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Brief History of Bitcoin

Bitcoin was the first cryptocurrency, which was launched in 2009 by a mysterious developer, with a name “Satoshi Nakamoto.” Since the creation of Bitcoin, it has inspired thousands of other cryptocurrencies (generally called altcoins) and has gained an enormous acceptance across the world.

bitcoin blockchain

Though some altcoins have copied some aspects from the original concept of Satoshi, other altcoins also made significant development on the Bitcoin model. However, in some cases, some altcoins are just a copy of bitcoin and have the similar underlying program – but at the same time, they are a bit different from the original Bitcoin. In such cases, the bitcoin blockchain should undergo a procedure which is called “forking.”

Forking

  • In forking process, Bitcoin blockchain divided itself into two distinct entities.
  • Through forking, numerous cryptos with a similar name to Bitcoin were generated, including; bitcoin gold and bitcoin cash.
  • It may be a bit difficult for a casual investor to differentiate amid these cryptos and to plan the dissimilar hard forks on a timeline.

What is Genesis Block?

  • After Bitcoin was created, the first block was referred to as “Genesis Block.” It was mined on the Bitcoin blockchain by Satoshi.
  • Satoshi made many changes to the Bitcoin network in this process and those changes have now become even more complex as the userbase of Bitcoin has fully-fledged.
  • Not one can regulate when and how Bitcoin should upgrade, and this makes the entire process of changing/updating the system a little bit more complex.
  • Even after the creation of Genesis Block, a number of hard forks still existed.
  • Hard fork included the upgrading of software executing bitcoin and its mining processes.
  • Once a software is upgraded by a user, that software version discards all other transaction from older software and generates a new branch of the bitcoin blockchain.
  • However, users who use the older software are still going to continue to process transactions, henceforth, there’d be a similar set of transactions going on across two different Blockchains.

Bitcoin XT

  • This is one of the most notable Bitcoin hard forks.
  • In 2014, Mike Hearn made the software for integrating some of the new features that he proposed.
  • At that time, Bitcoin allowed only 7 transactions-per-second.
  • Bitcoin XT was intended to allow 24 transactions-per-second.
  • Bitcoin XT primarily experienced a great success after its launch, with almost 1,000 nodes running its software (back in 2015).
  • However, just after few months, users lost interest in Bitcoin XT, making it ‘doomed to die.’
  • Even though Bitcoin XT is officially available today, but it has visibly tumbled out of the errand of crypto community.

Bitcoin Classic

  • After Bitcoin XT failed, few cryptocurrency community members demanded an increase in the block sizes.

To accomplish this goal, Bitcoin Classic was created in 2016.

  • Unlike Bitcoin XT, Bitcoin Classic intended to raise block size to only 2 megabytes.
  • Just like Bitcoin XT, Bitcoin Classic also saw initial interest with almost 2,000 nodes for few months in 2016.
  • Bitcoin Classic still exists today and has gained a strong support from some developers.

SegWit

  • In 2015, Bitcoin core developer, Peter Wuille introduced the idea of SegWit (Segregated Witness).
  • SegWit aims to reduce the size of all Bitcoin transactions, letting more transactions to come off at the same time.
  • However, SegWit was officially a soft fork and might have assisted in prompting hard forks after it was initially proposed.

Bitcoin Cash

  • Some community users and developers decided to introduce a hard fork in response to SegWit, as well as to evade the procedure-updates.
  • This, at the same time led to the creation of Bitcoin Cash.
  • Bitcoin Cash detached from the main blockchain in August 2017 – when Bitcoin transactions were excluded by Bitcoin Cash wallets.
  • Up till now, Bitcoin Cash is the most effective and successful hard fork of Bitcoin.
  • Bitcoin Cash is also the 4th largest cryptocurrency by market cap and allows blocks of 8 megabytes.

Bitcoin Gold

  • After the creation of Bitcoin Cash, Bitcoin Gold was created.
  • The creators of Bitcoin Gold intended to evoke the mining functionality with elementary GPU (Graphics Processing Units) since they experienced that mining became also particular – in terms of hardware necessities.
  • Post-mine is an exclusive feature of the Bitcoin Gold and a procedure through which the developers mined 100,000 coins.
  • In general, Bitcoin Gold follows the basic concepts of Bitcoin.
  • Also, it is different in terms of ‘proof-of-work algorithm.’

As Bitcoin has been forked quite a few times within few years, there is a possibility that Bitcoin would still continuously experience both soft forks and hard forks in the future.

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Top Darknet Marketplaces

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Are you looking for the best darknet marketplaces? Well, search no more as we’ve outlined the most popular online marketplaces currently. Check out our list below and you might as well find one of your favorites in there too.

However, here’s a quick tip if you’re going to be on the dark-web. You should be increasing your security by pairing a good VPN along with your Tor browser since just the browser is not enough for anonymous browsing. Once you’ve got yourself a VPN, you’re good to go.

 

  1. Dream Market

Dream market is known for its quality of products and sellers as compared to other markets on the dark web. It is also taking $% of the overall commission on sales, which is higher than other markets but, I think that’s reasonable since they provide good quality items. So, if you’re looking to spend on something with a guarantee that it’s worth the bucks, Dream Market is the place you should be at.

Market URL:  http://ltxocqh4nvwkofil.onion

 

  1. Bermuda

Bermuda is a darknet marketplace which aims to serve for a free world to buy & sell whatever they desire. Its marketplace provides you an escrow service, based on Bitcoin (a cryptocurrency) for an easy and smooth trade with a fine sense of confidence.

Here are some of the Vendor’s and Buyer’s guidelines:


Vendor’s Guidelines:

  • All members are kindly requested to be honest regarding Product quality, Package, Shipping, and Delivery.
  • Truthiness in your words helps to establish a network of trust, which is the backbone of Deep Markets.
  • Bermuda releases your available coins instantly; blockchain procedure may take some time. In case of issue contact to support.
  • A membership fee of $100 would be charged to become a vendor.

Buyer’s Guidelines:

  • All members are kindly requested to be honest regarding Product quality, Package, Shipping, and Delivery.
  • Select your desired product carefully; Read the description, Delivery time and other necessary information.
  • Recommended system to use is Linux. Apple and MS window based system is not fully trusted to use Tor based markets.

Market URL: http://gpyurg4lwou7a2vf.onion/

 

  1. Outlaw Market

Outlaw Market has been on the dark-web since 2013 and has had a mixture of reviews, some good while others not so good.

Market URL:  http://outfor6jwcztwbpd.onion/indxx1.php

 

  1. Valhalla (Silkkitie)

This marketplace was previously Finnish but is now available in the English language as well.  One reason this site is pretty secure is that you can only enter it if you receive an invite. Due to this invite-only system, there is more safety in trades made in the marketplace.

Market URL:  http://silkkitiehdg5mug.onion

 

  1. Hansa Market

Hansa is just a few months old but according to its reviews it seems to be doing pretty well. Since it’s pretty new it doesn’t have quite as many vendors but it’s expanding fast. It’s got a very simple interface along with maximum security, ensuring that the admins cannot run away with your funds.

Market URL:  http://hansamkt3iph6sbb.onion

 

  1. Crypto Market

Crypto Market is said to be handled by the same team as Silk Road 3.0 and apparently, they share databases as well. We’re a bit skeptical as to whether this site is a safe place to trade or not. If you’re curious to check it out yourself, we’ve provided the link below.

Market URL:  http://cryptomktgxdn2zd.onion

 

  1. Silk Road 3.0

No matter how many times you take Silk Road down, it seems to always bounce back. It wasn’t long after Silk Road 2.0 being shut down that an another would come back on, and it did. It’s safe to say that as long as Darknet Markets remain to exist, so will Silk Road. Obviously, Silk Road 3.0 has been gaining a substantial amount of popularity and it has even got tons of listings now.

Market URL:    http://reloadedudjtjvxr.onion/


  1. Darknet Heroes League

There’s not much that I have to say about this site. It is known to consist of not so many vendors who have been invited to sell on the portal. Check it out for yourself.

Market URL:  http://darkheroesq46awl.onion

 

  1. RAMP

RAMP stands for Russian Anonymous Marketplace, which makes it all the more obvious that it is in fact in Russian. Surprising to say it is one of the oldest darknet markets out there, standing since 2012. It’s a forum based marketplace and is said to contain drugs ranging from light to strong.  Their dealers are mostly from Russia, Ukraine and Belarus.

Market URL:  http://ramp2bombkadwvgz.onion

Remember that each portal has its pros and cons and it’s totally your decision to pick the suitable one for you being a buyer or seller. Also, I’d suggest that you become aware of marketplace scams before you jump into buying or selling anything on the dark-web.

Good luck on your hunt!

 

Story Credits: dreammarketdrugs.com

Image Credits: darknetmarkets.co

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ICO Coins: Utility Tokens vs Security Tokens

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Back in 2017, a boom in ICO creation was seen as hundreds of companies that were formed on the Blockchain with its attached digital currency were born in the form of an investable token. SEC (Securities and Exchange Commission) already had a closer look at the ICOs token and has declared them securities in most cases. Not every token that is being developed off the Blockchain should have that quality that directs it to be categorized as securities. Only a few other types of tokens are available that can be built off the Blockchain and one of them are utility tokens.

Although there are more than two types of tokens, it’s still essential to improve these two types, as they can be used in defining a new token that comes through an ICO- the security and utility token. To understand the divergence between these two tokens, a direction can be selected by ICO that can work better for them.

utility tokens

What is Security Token?

If a value of crypto-token originates from an external tradable asset, it is categorized as a security token. If we look at the DAO tokens from 2016, it was declared by SEC that ICO tokens might be a subject to federal securities laws. ICO tokens never meant to be securities, but the chairman of SEC, Jay Clayton, noted that every ICO token that SEC has seen so far is considered as security and clarified, that if a crypto-asset that is allotted by a company upsurges in worth over time, depending on the company’s performance, it is also considered as security.

What is Utility Token?

Utility tokens are another style of tokens that serve a role in various cases where there’s a requirement of the security token. A utility token represents the future access to a service or a product of the company. The characteristic that defines the utility tokens is that they’re not intended for investments. If they’re properly organized, then this characteristic frees utility tokens from federal laws governing securities.

You can also say that utility tokens are the coupons for the company. It’s basically a token that is different from the typical ICO token that is being used by many at this time. Despite the fact that it’s not perfect for every company, there are still many examples where utility tokens have a great place against the security tokens.

Should you choose utility over security?

Many companies rely on the “securities” but still, there are many companies that will not do the same. There is a collection of multiple types of utility tokens as each of them has different features that could include the needs of ICO. So, it’s really important to split the tokens into fungible or non-fungible.

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Crypto Regulations – South Korea’s Impact on the Crypto-world

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One of the largest markets for cryptocurrencies after Japan and U.S. is South Korea, as it’s believed by many. South Korea’s population is equivalent to Arizona and California if they’re put together. The cryptocurrency speculation looks like it has been overhyped unreasonably and South Korea’s government wants to take some fundamental steps now, to control this cryptocurrency trend in the crypto world.

South Korean’s Crypto-Market – Current Situation

At this time, you can clearly see a lot of chaos in South Korea. It all started when the government of South Korean officially legalized Bitcoin service back in July 2017, which caused a momentous progress in the demand for cryptocurrency trading all around the country.

North Korean hackers targeted South Korean Bitcoin exchanges in August 2017, and by the end of September, there were many rumours that South Korea was planning to execute stricter regulations on cryptocurrencies. These rumours turned out to be more serious by December and based on speculations, it changed into an absolute ban on cryptocurrency exchanges and had a bad impact on the crypto world.

crypto world

South Korea Influence on the Cryptocurrency Prices

According to an estimation by The Blockchain Industry Association, South Korea has many cryptocurrency exchanges, including;

  • Coinone
  • Bithumb
  • Korbit

This tells us that even with 50 million people in a country, the demand for cryptocurrencies is so high that it has traded at more than a 30 % higher price than other countries.

80% of the investors in South Korea have earned from investments in cryptocurrency and almost one-third of salaried Koreans have an average of $5,000 in cryptocurrency, which is a huge acceptance of an unapproved investment based only on speculation.

How are cryptocurrency traders operating in South Korea?

Many banks including the second largest one in the country, Shinhan Bank, offer local cryptocurrency exchanges with computer-generated bank accounts. Each investor/user can use these virtual bank accounts for depositing or withdrawing huge amounts of Korean Won without using their real bank accounts, which takes a lot of time and is costly at the same time.

The industry is currently under the government’s radar, amid other fears, that illegal funds will be entering the market and management of price of cryptocurrencies will be based on speculative investments.

How’s 2018 been so far for Cryptocurrencies in South Korea?

More regulatory plans have been announced by the government to ban this anonymous cryptocurrency, in order to control cryptocurrency speculation. Meanwhile, after this announcement, several South Korean exchanges were removed by the CoinMarketCap from its website, stating that extreme price divergence is the main reason for this. Around $20 billion was wiped off Ripple’s market cap as a result. After a statement by the Ministry of Justice, news of a whole cryptocurrency ban arose once again.

Is there going to be any ban on the cryptocurrencies?

The government started to notice huge speculation that drove instabilities in the cryptocurrency market since September 2017 and in order to evade money laundering and other crimes related to it, strategies to prohibit anonymous trading on local exchanges were testified in December 2017.

The Prime minister of South Korea, Lee Nak-Yeon, warned about the hazard of cryptocurrencies being an easy way for the younger generation especially students, to get involved with such illegal activities.

Regardless of the media misrepresentation of more stricter rules for cryptocurrencies, at the beginning of 2018, Kim Dong-yeon (the Finance Minister) ensured that there’d be no ban of cryptocurrencies in South Korea. The government also proclaimed that there’ll be tax on cryptocurrency exchanges around 24%. Apart from banning anonymous trading, they’ll be banning foreigners and minors from opening any other new cryptocurrency accounts as well.

How South Korean government will enforce bans?

The south Korean government has restricted the opening of new virtual accounts and cryptocurrency traders won’t be permitted to make any deposits into their virtual currency exchange wallets. They’ll be only able to deposit it only if they’ve the name of their cryptocurrency exchange and it matches that of their bank accounts.

It’s been demanded by financial authorities to the cryptocurrency exchanges to revamp their AML (Anti-Money Laundering) and KYC (Know-Your-Customer).

Are These planned regulations of South Korean affecting the crypto-industry?

Because South Korea has such a huge cryptocurrency market, this means that these regulatory decisions of government will have a huge impact on the crypto market worldwide.

During all these rumoured reports of the government banning cryptocurrency, the total market cap of all coins was declined by 40% in just one day. But shortly afterwards, the market cap started to rise once again.

All the rumours have played a big role in the cryptocurrencies’ price, and any change in the economic decisions or law made in the hubs of major crypto, will always result in such instabilities.

However, there’s always a possibility that it will climb back to the pre-crash levels.

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IBM’s Affordable Blockchain ‘Starter Plan’

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The IBM Blockchain is a hot topic these days. No doubt, blockchain technology is an ingenious invention which allows digital information to be distributed without allowing to it to be copied or modified. Though it was invented by Satoshi Nakamoto in its initial form but uptill now it has evolved itself into a digital giant. That’s why every person somehow related to the internet technology has asked the question:

IBM blockchain

What is blockchain?

In short, blockchain is the backbone of a new kind of internet technology. In its original form, blockchain was being devised specifically for the cryptocurrency, Bitcoin. It is also known as the distributed ledger technology as it maintains a flawless record of digital transactions. Due to its credibility, blockchain has also been used by the tech community in various other ways. Furthermore, IBM Blockchain technology is a much more refined form of this digital platform.

As we all know, IBM is on the top of the list as it has been working with Blockchain technology since 2015. The credit of bringing blockchain to mainstream also goes to IBM. It was in 2016, when IBM started to use Blockchain technology in their own company.

And now IBM has presented the concept of an affordable Blockchain Starter Plan especially designed for small scale businesses.

IBM’s business blockchain network

At an initial stage a beta version of Blockchain Starter Plan will be launched in order to facilitate the use of Blockchain in all sorts of businesses. For that purpose, in 2016 IBM launched a test Blockchain program in partnership with Walmart.

This starter plan will be free for the duration of its beta version. After completion of the beta version duration a 30-day free trial will be offered once the plan becomes applicable in its full form.

How will all this work?

To be precise, business blockchain network uses the so called distributed ledger technology in order to make sure a secure transfer of business assets inside that network. The beauty of this process is that these assets can be both in physical or digital form. Members of this network would use a concord mechanism instead of depending upon a bank or other such institute for the validation of their transactions. It will automatically not only improve the processing speed of transactions but will also become the first step towards transparency across the business network.

According to Marie Wieck, the general manager of IBM Blockchain, the company currently has over 250 active blockchain networks. She further stated that this new plan will suit pilot projects and will be perfect for those who want to build solutions on the IBM blockchain platform.

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Make money with bitcoin

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Make money with bitcoin

Once again cryptocurrency becomes the center of the interest of media and other financial institutions. Earning from bitcoin is not that much difficult. Following are some best ways to earn money from bitcoin.

Mining

Bitcoin mining is costly because of high electricity billing. Therefore, increasing difficulty rate and halving of bitcoin blocks increase the demand. While 21 million is the total supply of bitcoin and mining of coins is still held at large scale with sophisticated equipment. If you are living luxury can easily mint the coins and cash it out.

Mining pool  

Mining of bitcoin through an individual is impossible. If anyone wants the profit over the short period, he/she needs to join the bitcoin mining pool. Miners in the pool are able to use their resources together by sharing their hashing power. Whereas, divide the amount of reward equally according to the share in solving blocks. This platform is also encouraging the small-scale miners to be active in mining activities.

Bitcoin calculation can be complex, due to which pay-per-share offers an instant payout for each share which is solved by the miners. Whereas, in double geometric method operators normalize the payments by receiving a portion of payouts in short rounds and giving back it during long rounds.

Few popular mining pools are;

  • Antpool the largest bitcoin pool controlling 30% of the network’s hash rate.
  • BTCC controlling 15% of network hashing rate.
  • slush pool, the first mining pool containing the 7%.
  • Eligius and bitminter containing the1% hashing power of the network.

Faucets

Most of the faucets are making money websites by placing a different kind of advertisement on their pages. Those, who visit these sites to answer short questions and or solve captchas will receive segment of what the sites collect from advertisement. In most of the cases, each reward timing is about five minutes. Anyone new to the bitcoin can get bitcoin from these faucets.

With the goal to advertise the digital currency among the readers, CCN provides its own faucets. Whereas, CCN will provide the bitcoins free to the reader.

Free bitcoin, bitcoin zebra, moon bitcoin, pocket dice are few Satoshi faucets.

Playing games

A game name oh crop! a game much like plant vs zombies in which player have to defeat the devil plants. Is one the game who come to the bitcoin android space. Where the player receives the payout by watching a video advertisement. There is a number of Sites, who provide the games to earn bitcoin and cash it out in a market.

Reading book is a good habit

PaidBooks.com has the same functionality as the regular faucets have. It pays 400 Satoshi over every 10 minutes with 800 jackpot of Satoshi. This more than free faucets rate.

 Short summary        

There is a large number of methods are available to earn bitcoin free. Once you have bitcoin means you can do transactions through bitcoin or transfer it to fiat money. Above all are few ways of earning money from bitcoin. But be aware of scams.

 

 

 

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