Buy a Bitcoin?
A lot of people today, looking at the progress and boom of bitcoin want to invest and buy bitcoin. But bitcoin is not a company or a stock. So, what do all these people mean by investing or buying Bitcoin? Bitcoin is a currency. How do you want to invest in a currency? If it meant appreciating the value or trading it, we need to have a closer look at the insight first.
Buying and holding
Buying Bitcoin in hope that you will avail the opportunity cost or the value will appreciate, is known as ‘Hodling’. If this is the intention then you need to do your homework yourself beforehand. Study the nature and behavior of the currency. Study and observe the reasons it fluctuates and reacts according to the changing socio-economic natures around the world. Few points to account for;
- It is a risky task to perform. Always risk the amount that you are okay loosing too. The tables are not always on your side.
- Always transfer currency to the personal wallet. Never leave it on the exchange. It may result in scam or fraud.
- Always choose reputable exchangers.
- Use the method of cost averaging to buy Bitcoins.
If your aim is trading than it means you are an active participant in buying and selling the currency. You buy the cryptocurrency at lower rates and sell when the rates go up. Trading gives reward only through knowledge and practice.
Investing in Mining
If you are interested in Bitcoin mining and needs to invest in equipment to mine more Bitcoins, it’s not that easy of a task too. There is a lot of scams included in this act too. You may come across complete scams eating away all your currency. Or you may end up in bad investment companies by paying the sites for more coins. It’s basically all surrounded by risks and risks.
Investing bitcoin companies
If a company claims to double to your coins or give the reward that is too good to be true then maybe it is not true. These companies are mostly scams or HYIPS (High Yield Investment Programs). These sites promise untrue rewards and start by creating a referral program or a big buzz around on the site. Entertaining a few startups for a few months, these companies will vanish in the air in no time. There will be no compensation and people will be left crying over the lost bargain. You cannot trust a site fully to say it legit or trustworthy to the fullest.
Is it late to buy bitcoin?
The answer to this is not that simple yet not so complicated too. It totally depends on the understanding and knowledge of the currency. A decentralized, peer to peer electronic currency, controlled by no one but just by the consumer, can be so unreliable to put the bid on. The important is to know how to invest rather than thinking whether to invest or not. The only way out is to know the currency. To understand the knowledge and nature of the currency, its fluctuations and variations are all that counts to invest and make reward out of that investment.
In 2017, the cryptocurrency conjecture went mainstream. By going mainstream, it means that the market isn’t dominated by cryptocurrency enthusiasts anymore. We’ll have to accept that the mainstream investors with even a little bit of knowledge of cryptocurrencies are in charge of the market.
A Wall Between Investor And Stupid:
The unit price of a coin is a pointless basis for making investment choices. Even a bitcoin could’ve been a sub-cent item if Satoshi had chosen the final cap to be 21 quadrillions instead of 21 million and the unit price of a bitcoin would’ve been $0.00001697 right now instead of $16,790. But the total market cap still would be $284 billion. Nothing would change except that everyone would have million times more bitcoin and the unit price would be also quite cheaper.
Since many cryptocurrencies, as well as bitcoin, are divisible down to Satoshis (10^8), no matter what the supply is, as long as the currency has enough particles to go around for the economic use cases imagined so it could function properly. The number isn’t much important itself, although it doesn’t affect the unit prices, which automatically means that it has a massive impact on the investment choices of mainstream investors.
You must’ve been wondering the reason why we look for the market caps when we compare coins. Well, this is because it is how we compare cryptocurrency’s values as a whole, instead of just looking at the unit prices. To envisage this in a fine way, we can normalize the supply for various altcoins to see what the prices would be if they all had the same supply.
Zcash is the best example to explain what this actually means. Zcash supply when all the coins are mined the same as bitcoin (21 million), but right now, there are only 31 million mined ones. Also, when you’re looking at sites like Coinmarketcap, it’ll tell you that Zcash has a market cap of just $2.1 billion. It places Zcash far down on the list because it has just 0.6% of bitcoin’s market cap.
The price of Zcash is $727 which is almost 3.2% of bitcoin’s $16,098. You’ll have to pay 0.035 bitcoin to buy Zcash if you’re buying with a bitcoin. Zcash must accumulate a market cap of $12bn, to climb to the 12th spot on Coinmarketcap. The reason why the site is listing the coins the way they are is that it tells us what the implied valuation is for coins when they’re bought at current prices.
You can get far in your determinations to become a more informed trader than most of the people in the market by just using your common sense and a calculator. Being able of properly comparing the coin valuation doesn’t matter if no one else is doing it.
It’ll take a lot of time for the markets to eventually force these prices to sort out themselves. Until they do it, it’s your diligence to ensure that you’re on the right side of that alteration.
Story credits: news.bitcoin.com
Image: Google images
People can store their Bitcoins offline or online through multiple ways. They are free to use a paper wallet or hardware option to store. However, users of this technology also have the option to create a wallet on cheaper USB to store coins offline.
Creating low-cost Bitcoin wallet USB
Today, we are going to create a low-cost bitcoin wallet with a USB drive. You have the option to download few different wallets for this procedure. While, for this walkthrough, we use an electrum wallet. bitcoin users need to follow such installation process.
You need to download electrum wallet to your computer. Linux, Windows or Mac OS will take few minutes to download.
Install this software directly on the USB drive. Use USB thumb drive for other application isn’t the good idea. There is an option that drive should play one man show as bitcoin wallet.
Offline installation of wallet into USB drive
To perform offline line installation, you need to disconnect from an internet connection. It will be better to refresh your computer before installation. When you are sure that your operating system is offline then plug your device into the computer.
Open an installation program from your USB drive. The client does not have the option to reach the bitcoin network, but you still have complete opportunity to create a new wallet. This installation follows the same procedure. You need to install to USB, then go through security session. Where you will create a strong password and write down your seed phrase. Keep in mind, if you forget your password or seed phrase, you will not recover your bitcoins on that wallet.
A Little Bank or Bearer Bond Instrument
After securing your wallet with an encoded passphrase and get your seeds, you will have a fresh wallet. you can easily send or receive the bitcoins. like a hardware wallet, you need a device to access your keys, so that you can easily restore it with seed. The cost for this method is round about $2. Furthermore, they also can use the bearer bond instrument.
22 April 2017, Berlin, the first European blockchain conference for healthcare targets c-level executives. Where the conference organizers under the patronage of German federal ministry and will schedule from 31 may 2017. Therefore, Conference’s main focus will be on healthcare and health insurance. Let’s have a look at blockchain first. Afterward, we will discuss the different aspects of this conference.
Blockchain And Healthcare:
Blockchain technology was anonymously introduced in 2009, without a need for central authority.
Worldwide acceptance of blockchain creates its history. As a result, Health industry notices the advantages in adopting blockchain. Not all the participants but current insurers partnering up with blockchain -linked system.
Basically, this is the start of blockchain in the healthcare industry.
Health Coverage Through Better Management:
As blockchain maintain secure transactions between its participants. Which provide the high transparency as compare to the current paradigm of the insurance world. Middlemen have a dominant role in our lives, especially in the insurance world. But with blockchain technology applications, things get quite different. For example, if a person needs a doctor, a psychologist. He/ She can easily apply to a blockchain-developed program. Similarly, same with health insurance.
Dr. Eberhard Scheuer, CEO eHealth Consulting and organizer of the summit states, “The conference provides an interactive platform for professionals in healthcare and associated industries to gain insights from blockchain experts and startups into the latest developments in this fast-growing industry.”
Reto Gradient, Founder B. ACADEMY and co-organizer of the event states, “The financial industry has had its blockchain wake-up call in 2015. Today they are working on solutions already. Now it’s up to the traditional players in the healthcare industry, to understand the disruptive power of this new technology”.
Registration of the blockchain healthcare starts now. Companies are interesting to join this event.
Coinbase is a secure online platform for buying, selling, storing and transferring digital currency and it’s the most popular way to buy and sell Bitcoin, Ethereum and Litecoin.
Last month, few issues have been experienced on Bitcoin’s GDAX exchange during the launch of Bitcoin cash trading. Coinbase has blamed exceptional demand from buyers for these issues. On 20th December, the firm added support for bitcoin cash, however, Coinbase moved to disable trading of its newest assets after this unexpected news.
Adam White, who’s the manager of GDAX said in a blog post that they did their best efforts for creating a fair and orderly market, however, the launch of bitcoin cash didn’t go well and they also understand why the customers are so upset. He also said that they’ll share a detailed timeline of events and other additional information about the decisions for improving the future launches.
He added, that on 3rd August 2017, it was announced that customers could withdraw their bitcoin cash (BCH) balances by the 1st January 2018. Later, the decision was deferred. After monitoring the Bitcoin Cash network, some factors were observed such as; developer support and network security. And in the end, it was concluded that the bitcoin cash met the standards of Digital Asset Framework so it could be traded on GDAX.
According to the blog post, in the 2 minutes and 40 seconds after BCH/USD trading started, almost 4,000 orders were placed, in which 3,461 matches occurred, and trading volume got to $15.5 million. Furthermore, he added, the low cash flow also triggered the price of the cryptocurrency to leap as high as $9,500, a lot higher than listed on other exchanges.
The constant liquidity complications made the relaunch of BCH/BTC and BCH/EUR books to be postponed until the end of winter holidays, when there would be higher possibility of meeting liquidity standards that are needed to enable trading. White accepted that regardless of the firm’s best efforts to create an impartial and methodical market, the launch did not go as it was expected.
On 13th November 2017, employees were informed about the decision to support BCH trading and were overtly verboten from buying and selling BCH. All employees were also forbidden from sharing this information with anyone else outside of the Coinbase. Coinbase has also announced that it will start an inquiry if any of the employees have desecrated its insider trading rules.
It’s not the first time that price movements have seemed to anticipate changes in the exchange to list new cryptocurrencies. According to an information from Coinmarketcap, the prices of the cryptocurrency began increasing at least a day in advance. Only four assets have been listed by Coinbase on its GDAX exchange, which offers order, bitcoin cash ether, order books for bitcoin, and litecoin.
Well, the move to list bitcoin cash was different and unique, as it effectually gave all the customers of Coinbase’s GDAX exchange an amount of bitcoin cash equivalent to the amount of bitcoin they detained on the exchange at the time, when the new cryptocurrency network was formed and Coinbase has also specified that it will definitely look for relaunching bitcoin cash trading later.