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Cryptocurrency Trends: Are Crypto Prizes another scam?

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Nowadays, everyone is following the cryptocurrency trends, whether it’s the art world or the gaming world. Even some of the app developers have also jumped onto the trend of cryptocurrencies to attract people to their work.

Many gaming companies seem like they have found a technological link to the digital currency, which sets up as a prize for the market, globally. They can benefit from the publicity; however, they can also attract a huge audience with an attractive prize.

crypto prizes

Crypto Prizes in Digital Paintings

Artist Marguerite DeCourcelle hid Bitcoin prizes in digital paintings on literally three occasions for the public to discover them. When the key to the Bitcoin wallet was initially placed into the digital painting by DeCourcelle and her team, the wallet had almost 4.87 Bitcoins, which had the worth about $1,400 at that time.

Gaming Companies Hiding Cryptocurrency

Well, gaming companies are also doing their best to hide cryptocurrency in their games especially for those who get to the end first. Let’s take an example of Montecrypto: The Bitcoin Enigma! This game features a digital world player, solving 24 ‘enigmas’ to claim the last prize of 1 Bitcoin. The developers of this game are anonymous and they wish to remain the same ’til the prize is claimed. Another game is Neon District that is going to be launched soon and just like other crypto prizes games, it will have a crypto prize at the end.

Prizes are very commons especially when it comes to games. But, the attraction of Bitcoin has started to spread to the likes of paintings. So, what’s the appeal of joining a “Bitcoin-based prize” game in which someone can beat you quite easily? Well, the main reason behind it is that Bitcoin media comes with lots of hype and publicity.

Another Scam?

According to DeCourcelle,

DeCourcelle and her team have built up a respectable name in regards to this small, yet growing, aspect of cryptocurrency. But, at the same time, she admits that no matter whether a person or a company offers Bitcoin prizes, or ICOs (Initial Coin Offerings), reputation and trust is supreme.

She stated:

“We’re working on trustless systems that still rely heavily on trusting people based on social merit or reputation-based systems. Most ‘giveaways’ these days do not turn heads. In the old days, you could tweet – “1 Bitcoin for one lucky follower” and include a fancy gif. This doesn’t work anymore.”

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Bitcoin Will Hit $20,000 Before Halving

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Michael Spencer, CEO of NEX Group Plc, a financial expert, sees bitcoin’s value achieving $20,000 before reversing steeply, joining the unit of financial pioneers who claim bitcoin is just a bubble.

Spencer revealed to Bloomberg TV’s Guy Johnson in London that he has no clue if bitcoin’s cost will twofold before it halves, yet said it could hit $20,000 “truly damn rapidly.”

Spencer admitted that digital forms of money are here to stay, but also said that bitcoin is just a bubble.

In July, Spencer said he lean towards Ripple and Ethereum to bitcoin and that he may present NEX trading platforms for cryptographic forms of money. The issue with any bubble, he stated, is that you don’t know whether it will double up before it halves.

Buyer markets usually hit a point where everybody is bullish, he stated, and he doesn’t think bitcoin has achieved this point. , acknowledging that bitcoin has wide energy, Spencer said there are signals that it isn’t an ideal time to put resources into it just because others are doing so.

However, He Gave Thumbs Up To Blockchain:

Spencer, in the same way as other bitcoin naysayers, is optimistic about blockchain’s future, taking note of that it has enormous implications that reach out past the financial markets.

He said blockchain could be used to provide constant settlement of securities transactions.

The fact that an innovation has implication in numerous industries where it can enhance efficiencies does not mean the positively trending market “can’t move on a bit,” he stated, hinting bitcoin.

Spencer additionally addressed the unpredictability of stocks, Brexit, and other money-related themes. NEX Group’s offers tumbled before in November after the asserting economic situations were making challenges for its post-trade administrations and electronic trading.

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How to Buy Bitcoins Instantly – The Secrets Unlocked

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For new users, buying Bitcoin could be a little difficult. Especially, when the situation calls them to buy it instantly since the procedure is quite tricky. If you are one of the new users and looking for information on how to buy Bitcoin instantly, this is the perfect place to be.

Buying Bitcoin – The First Step:

The first and foremost thing needed is a Bitcoin wallet as it is used to store digital coins. The wallet works the same way as a bank account – it authorizes you to hold your Bitcoins safely and lets you send and receive the cryptocurrency.

Getting wallet is pretty simple. All you need is getting in touch with a Bitcoin wallet supplier and provide them with your email address. Once they have your email, it’s just a matter of few minutes before you eventually receive your wallet.

After getting your wallet, choose one of following three ways for an instant purchase.

Buying BTC Over the Counter/Face to Face:

The most effortless choice, especially if you live in a big city and don’t want to give away your identity.

There are various websites/p2p commercial centers on the web to help you make face to face trade with a native retailer.

In the event you choose to adopt this method, it is best to arrange a meetup in a busy, open place and play it safe at the time of the transaction. Also, keep in mind that you must have access to your wallet to ensure that the coins have been transferred to your Bitcoin address.

Buy BTC from an Exchange:

Bitcoin exchanges allow consumers to buy and sell Bitcoin. However, while dealing with such exchanges, remember that these exchanges and wallets do not work the same way as the banks.

Unlike traditional banks, these exchanges do not provide any protection to your record which could be an issue should you end up losing coins to hackers. So, make sure you have everything perfectly in shape – protecting your coins.

Buying BTC at ATMs:

You can also buy the bitcoin instantly with Bitcoin ATMs. The approach is similar to the one with face to face exchange, the only difference here is that people are interacting with a machine instead of a human being.

These ATMs require users to insert their money or MasterCard to complete the transfer of bitcoins to your wallet. Some latest models even permit you to withdraw money by sending bitcoins. However, the transaction rates of these ATMs are slightly higher than that of traditional exchanges – 3%-8% to be precise.

Conclusion:

These are some of the best ways to buy Bitcoin instantly. To conclude it all, first, you need a Bitcoin wallet to store coins. Then go to an exchange, get them through an ATM or go with face to face purchase as all these methods guarantee instant bitcoins.

Good luck with your first purchase.

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Bitcoin Mining – What Are the Best Mining Programs?

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If you are reading this article, chances are you already know about Bitcoin mining program as it’s the easiest way to get bitcoins. But did you know that the mining itself can be divided into two further: solo mining and mining through a pool?

In terms of profit, there isn’t much difference between the two. Solo mining offers large but irregular payouts while pool mining offers small and frequent rewards. In the end, both the methods add up to the same amount.

Whatever you choose, it’s totally up to you. But remember that there are certain steps that you need to follow in order to succeed. The steps include:

  • Having the right hardware
  • A software that matches your needs
  • Setting up a method to receive your profits and rewards
  • Solving the algorithms which seem to be getting tougher by each block you mine.

In this post, we have discussed some of the leading software programs to help learn how to mine bitcoins efficiently.

CGMiner:

Our list starts with CGMiner. CGMiner is open source, written in C and currently the most popular GPU/FPGA/ASIC miner. The software is compatible with Windows, OSX, and Linux.

CGMiner has the ability to monitor, overclock, remote interface and fan speed control. Moreover, using a mini database, CPU mining support, Multi GPU support and binary loading of kernels, it can also detect the new blocks which ultimately quickens the mining process.

BFGminer:

BFGminer is designed especially for FPGA/ASICs and is a derivative of CGminer. Some interesting features of BFGminer are:

  • Fan control and integrated overclocking.
  • Vector support.
  • Crypt mining support for both GPU and CPU.
  • ADL device reordering
  • Decentralized mining protocol and much more.

BitMinter:

If you are wondering how to mine bitcoins quick, BitMinter is the way to go. The miner focuses on quick mining, high rewards and is considered to be the most efficient when it comes to getting in touch with potential clients and users.

BitMinter belongs directly to a mining pool. In order to join and become part of a pool, you must register by filling in a sign-up form.

BTCMiner:

BTCMiner is an open source software and is compatible with Linux and windows. The bitcoin mining software doesn’t require any Xilinx/license and possesses the ability to automatically choose a frequency with highest hashes. The key features of BTCMiner include:

  • USB-FPGA modules 1.15b and 1.15d
  • USB-FPGA modules 1.15x
  • USBA-FPGA modules 1.15y
  • No JTAG programmer required
  • Requires just one mining rig from one software instance

Poclbm:

Another miner with the ability to mine some quick blocks. Poclbm can perform hashing computations in a quick manner and is compatible with a wide range of hardware. The miner works best when used with a modern GPU.

According to some users, Poclbm is great for multiple machine mining but not so great for masses.

Conclusion:

These are some of the best Bitcoin mining programs that can help you mine some quick blocks. Each comes with incredible features, which ultimately makes it super hard to pick the right one. However, all you need to know here is to only choose the one that best meets your requirements. Do that and you are good to go.

Tags: Best way to earn bitcoins.

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Bitcoin Highlights – 2017 Edition

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2017 has been an adrenaline-packed roller-coaster ride for Bitcoin so far. Especially taking in the fact that it hit its highest record, crossing over 2,900 USD towards the end of June.

Here we are going to take a look at this year’s top bitcoin news from around the world.

 

BITCOIN VS. GOLD:

Who could’ve ever thought that something that exists virtually could cross the value of something as valuable as GOLD?

On March 3rd, 2017, the cryptocurrency set a fresh record of $1,268 while Gold rested at $1,233. The precious metal seemed to be having a bad month as it had dropped more than 2 percent within the same week. Meanwhile, Bitcoin seemed to be on the rise, with a 7 percent rise in a weeks’ time.

This cross is something that will always remain symbolic due to Bitcoin’s incomparable fighting power.

JAPAN:

The reasons behind the success of Bitcoin, particularly in 2017 could begin with the legalization of the cryptocurrency in Japan, which is Asia’s richest economy. Following the announcement, retailers and companies began queueing up to accept the popular digital currency. Moreover, the number of retail storefronts has risen to 300,000 in 2017 alone, things are definitely turning around for Japan.

Also, let us not forget that Japan has officially eliminated the tax on Bitcoin which is bound to drive an increase in Bitcoin trading.

RUSSIA:

Russia announced their legalization of the use of cryptocurrencies in 2017. Their government confirmed in late April, that a draft bill would create the legal framework for trading in cryptocurrencies. Surprisingly, this is coming exactly a year after the same Russian institutions had announced that anyone caught using Bitcoin or any other cryptocurrency would be jailed.

Why this change you may ask?

Russia plans on implementing the blockchain technology within its banking sector, to eliminate liquidity crisis and money laundering. Central authorities have closed down many banks but shutting down is not enough to wipe out frauds. Ultimately, authorities have decided to implement new technological applications that allow the government to surveillance people throughout. Thus, the sudden involvement is being shown in the digital world.

EDUCATIONAL INDUSTRY:

The University of Ohio has now officially begun hosting their first classes about Bitcoin and other cryptocurrencies as a part of its MFE curriculum. To follow up, several colleges have even started to accept Bitcoin as a payment method, a step that has definitely pushed Bitcoins to new heights.

In addition, two Montessori schools in Flatiron & Soho have now started to accept Bitcoin as a payment and 10 parents have already opted to enroll their kids using Bitcoin. Marco Ciocca, co-founder, and chairman of the schools added this payment option in June.

The above points prove that Bitcoin is becoming more and more popular as we type this article. People are intrigued to know more about the cryptocurrency and have adapted to the system to develop a better understanding. Obviously, because who wouldn’t want to exchange or shop for anything and everything without having to leave the comfort of their homes.

These are the major bitcoin highlights 2017 but, this is definitely not the end of it. Bitcoin is known for its staying power and we know that despite all of its competitors, it’s one tough cookie!

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