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Bitcoin ATM

Over the last few years, Bitcoin has seen an incredible growth in popularity. Numerous stores, corporations, and businesses have started accepting Bitcoin as a form of payment. But this is not the only interesting part. What’s more intriguing is the fact that Bitcoin is no longer confined to only  business community. The currency is starting to take on the entertainment industry just as well.

According to the latest news from LV, a Las Vegas-based club has installed a Bitcoin ATM and is planning to register members through Blockchain.

Peter Klamka – the owner of Legends Club stated: “It was an easy choice to make. The club is recently opened and judging by the traffic, it only seemed a natural location. It was something that I had always planned and there wouldn’t be a better time to pull this move off.”

Looking at Klamka’s history, it’s pretty obvious that the guy is filled with passion for Bitcoin. He operates a company named Bitcoin Direct, LLC, and had also installed a Bitcoin ATM in Mixed Martial Arts Studio in Las Vegas.

Interesting fact: The ATM is branded with one of the club’s strippers – adding some extra flavor to it. The members are also calling it the “Porn Star ATM”. The Porn Star ATM is the second that Klamka has branded. First one was Mike Tyson’s ATM.

While talking about his plans, Klamka proposed that he is also considering to brand sports and celebrity ATMs.

“I also think branded ATMs of any kind will bring new audiences and new users to digital currency,” he said. “Nick Blomgren (who runs the Legends Club as well as the mixed martial arts studio) and some of these performers are more willing to experiment and test ideas.”

“It is similar to branded slot machines that are everywhere in Vegas and in casinos in general,” Klamka said. “In a longer term, it will encourage business to embrace digital currency there are no chargebacks frauds and transaction fees are extremely low.”

“The goal is to make an item for organizations to help drive the business forward,” Klamka told CCN. “We’ve seen individuals wanting to take pictures beside these ATMs.”

“I also think that branded ATMs of any sort will pull new users towards cryptocurrency,” he said. ”

Why It Seemed Such a Perfect Fit?

The MMA community is closely allied with the club, and given the popularity of Bitcoin amongst the MMA community, it only seems natural to have a Bitcoin ATM at the club.

Famer Stephen Bonnar – club executive and UFC hall of Famer – has close ties with MMA fighters and is always working to assemble the MMA fighters as hosts, friends, and members of the club.

Bitcoin and Strip Clubs:

The Legends Room is possibly the first strip club in the world to accept Bitcoin payments in addition to accepting traditional payments for services that the club provides.

Moreover, the club is also working on the idea of registering membership through blockchain. The approach will allow the owners of Las Vegas nightclubs to rent memberships just like real estate.

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Bitcoin Exchange Calculator

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Bitcoin is a decentralized crypto money that offers pseudonymity to its clients. In spite of the fact that a Bitcoin has no intrinsic value, it’s turning into an inexorably popular type of digital cash, drawing in venture capitalist attention, from Winklevoss twins to Fred Wilson of Union Square Ventures.

Bitcoin Exchange Calculator

There is a restricted supply of Bitcoins, 21 million to be precise, with 11 million currently available for use. While Bitcoin enables you to keep your identity concealed, the blockchain goes about as an open record of each Bitcoin exchange. Bitcoins can maintain a strategic distance from central banking and global cash wiring charges.

There are a couple of various approaches to obtain Bitcoins. You can mine a Bitcoin, but it becomes difficult when the amount of Bitcoin mining increases. You can likewise set up a wallet by means of Blockchain.info, or through a safe Bitcoin customer like CoinBase, and utilize destinations like BitInstant to load it.

For a simple way to calculate the estimation of your Bitcoin in fiat, check out this Bitcoin exchange calculator designed by BTCwonder.

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Facts about bitcoin

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This is a time of bitcoin. This year interest in virtual currency increases as compared to last year. In this article, I will discuss the main bitcoin facts which are the cause of increasing interest in virtual currency. Let’s move toward the discussion.

A brief about bitcoin

Transactions are made without a middle authority. Which means, no banks! No need of heavy fees for transactions. No need for 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. Read  article if you want to know about the Bitcoin

Current value of the bitcoin

Today, 2 June 2017, bitcoin’s value is $2466.48. As you see the increasing behavior of the bitcoin value. Accordingly, Bitcoin has captured the everyone’s attention.

Whereas, today’s open, high and low is,

Meanwhile, you know the current status of the bitcoin. Want to know about the market value of the bitcoin. and price analysis of bitcoin

Decentralize the middle person

While we are going to deal with currency, we don’t like the third person’s interference. The security we need during our transaction, bitcoin provide the same. The third person in the transaction is not allowed even third is a government. Bitcoin transaction process doesn’t allow any person’s interference. Furthermore, you are free to do transaction anonymously without third person’s interference.

Check and balance   

When you have completed your transactions, you can check the details. Copy them or save them where ever you want.  https://bitref.com/ here, you can check the details of your transactions.

Do study with bitcoin

You have a wish to go back to the university life and you have just bitcoin. Don’t get panic. Bitcoin technology and its followers allow you to pay the fee in bitcoins. New Yorker University of The King’s College accepts the Bitcoin as the fee of your semester.

However, this is the initiative steps in universities. The University of Cumbria in the UK, the University of Nicosia in Cyprus is also planning a degree in digital currencies for students.

64% part of the bitcoin on blockchain  

A few years back, bitcoin’s rate was $1 for 1309BTC less than $0.00076 per BTC. Meanwhile, the price is very low. But, time change, Bitcoin asserts itself and easily acceptable everywhere. Let’s have an example, you get 393,225BTC by paying $300 at that time. Now, you are going to sell them and cost of BTC is $2,226.08. You will have the enormous wealth of $875,350,308.

A study by California University,

There is a huge history of bitcoin user’s. Who lost the private keys and unable to use bitcoin. Here are two examples of the accounts, still they don’t do any transactions.

1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF: this address was created on 1st March 2011 and now 2017. In addition, 75,957 bitcoins have been not using still.

12tkqA9xSoowkzoERHMWNKsTey55YEBqkv: this was created on 5th March 2010, and still no progress or spent bitcoins from 28,150.

Computing power is higher   

Bitcoin computing power is 2 046 364 Pflop/s. whereas, 500 supercomputer’s computing power is 274 Pflop/s.  you can see the difference of power computing networks. However, Bitcoin users are not performing fluctuating processes. But, only numeral calculus. How can we proceed? It is simple, infect,

A hash is equal to 6.35K numeral actions

A numeral action is equal to 2 variable fact actions, whereas,

A hash will be equal to 12.7K variable fact actions

So, if we use the rate of one hash that is the 12.7K flop, and analyze it with the network is 161 131 086 gh/s, we get the approximation of 10^9*161131086 H/s * 12700 = 2 046 364,7922 Petaflops.

Too much computing power, this power can b utilize during modelization process.

114-million-dollar transaction

A transaction which shows the transaction of 114 million dollars or more. Accordingly, an effective rate of the time. Transaction is,

How created bitcoin

Bitcoin acceptance is worldwide. People use it, spent it for their daily needs, means it has a worth. How created the bitcoin? its answer is still a mystery. Few names have surfaced the financial platforms like Craig Steven Wright. Know about Craig Steven

Total number of bitcoin

We all know the limited amount of Bitcoin supply is 21 million.  Which will never exceed this amount. Whereas, bitcoin users are continually mining the Bitcoins. It is a rough estimation that 14 million bitcoins are mined. Accordingly, two-third bitcoins are mined. In addition, it is a prediction that the last bitcoin will be mined in 2040. Which clearly means that we still have an option of mining. But unfortunately, due to a high demand of coin decreases the supply.

Black Friday bitcoin sale  

You are able to buy bitcoin for cash. On the day of Black Friday, you are allowing to buy bitcoin and then spend it in different ways. How to shop with bitcoin, you can read the article.

Physical Bitcoin

Few users + lovers of the bitcoins introduce the physical bitcoins. They are doing heavy working behind these projects. Fortunately, they have code redeemable for digital currency. Read physical bitcoins

Leaders called it scary  

When few sites like Mt. Gox hacked in 2011, a developer Gavin Andresen states on his personal blog.

“I’ve said it before, and I’ll say it again: Bitcoin is an experiment. Treat it like you would a promising Internet start-up company: maybe it will change the world, but realize that investing your money or time in new ideas is always risky,” courtesy of http://gavinthink.blogspot.com/2011/06/that-which-does-not-kill-us-makes-us.html

No inherent no set values

Luckily, another fact of the bitcoin is, bitcoin has unique or unstable values. Whereas, no other currency support bitcoin inherited its values. Bitcoin values are changing, depends on the services.

Losing wallet

When you are losing your wallet, forget about your bitcoins. because it will never come back to you again. So, keep the complete security of your wallets. It is a scary fact that people forget or lose their wallets of the bitcoin.

Bitcoin vs Gold

Bitcoin’s value crosses the gold’s value. Isn’t insane???

Yes, Bitcoin crosses the gold’s value. Read the article about bitcoin vs gold,

Few other facts of the Bitcoin are,

 

Conclusion

Above all are a few facts of the bitcoin. Some of them are scary, few are interesting and other are insane.

Goodluck!

 

 

 

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How to Assess Basic Principles Of An Initial Coin Offering

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A person who is not accustomed or used to the terminologies of crypto industry, it is difficult to conceive the idea of initial coin offering or why the tokens are generated and how to assess an initial Coin offering. For a cryptogeek it is quite simple, for him an ICO is a tool that is used to trade future crypto coins which are exchanged for cryptocurrencies having instant or liquid value. This definition may be simple for a person who deals in all sorts of cryptocurrencies and has undergone various ICOs but when talking about a layman who has no sound knowledge of crypto, it may get complicated.

How to assess an initial coin offering

For your ease of understanding we have devised a simple example from everyday life which will be quiet helpful for you if you want to understand the basic principle of initial coin offering.

Example From Everyday life

Imagine you want to start a business of your own, you have selected the appropriate location for it, and you’ve also planned the interior and exterior design with the sort of items you are going to sale.

 

But, There’s one most important thing remaining …..

 

Without a handsome amount you cannot initiate your business, You must rent or purchase the place you have chosen, stock it with the items you want to sale and also hire some staff to tackle it the way you have devised in your mind.

 

Let us assume that you are an innovative person and you don’t want to get a loan from any one, you just want to initiate your own sum. For that purpose you produce your own branded product with some specific name say for example “BIT”. But you only generate it in a limited quantity of 1,000 pieces. Let us call each piece a currency, and customer won’t be able to buy that currency until they acquire them using special tokens that you’ll release gradually over the specific period of time following your business launch date.

 

If demand for BIT is high enough and if you succeed in making your buyers believe that its demand will continue to grow, that will automatically push up the price of the tokens generated in the future. These tokens would obviously sell for large sums and as a result you’ll raise enough money to launch your business.

 

You can make it further simple to say that first you offered shares for a company which you have not yet launched but you had developed a significant trust so public bought that share for the sake of investment. That was an Initial Public Offering from your side.

How To Apply The Same Principle To ICO?

The principle elaborated in the above example, is also behind an ICO. The same way you offered the public initial shares of your company, an ICO gives public the right to buy a product which exists in a limited quantity. The company offering that product has an option to sell its rights for a higher price.

 

The beauty of the above process and the thing which differentiates it from the prior IPO example is that it is supported by blockchain technology. This technology guarantees the authenticity of the tokens offered. In short ICO is a whole new way for businesses to raise money. According to the latest ICO news update, it has already been used to generate approximately 2 billion dollars.

How is ICO Risky?

Well, we have full trust on the blockchain technology but we have no issue in admitting that it can too be risky as compared to the Initial Public Offering. Let us see how?

 

First of all the most satisfactory thing about the IPOs is that they are well regulated. Companies which make such offers are lawfully bound to reveal all sorts of information about themselves before they make it fully public. It allows investors to make fair-minded estimations about their value. The main thing is that people making these investments have full knowledge about the Pros and Cons.

 

On the other hand people who invest in an ICO have comparatively less knowledge of what they are investing in and what will be the nature of their return. But it can be easy for you if you follow the following principles devised by our crypto experts:

Factors You Must Examine

  • Is the admin panel team of that company experienced?
  • Does the product offered by the company have a good market? If the product isn’t a hot item, there’s is no use to invest in it.
  • You must have proper knowledge of the blockchain technology which is underpinning the sale. How many tokens have been distributed uptill now and what is their security level.
  • The legal and regulatory stuff surrounding the company is safe or not?
  • What are the terms and conditions outlined in the white paper and do they look fair?

 

We hope that after following these rules and regulations it will be easy for you to make a smart decision in terms of ICO investment, still we are waiting for your suggestions and criticism in the comments section below.

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Everything about bitcoin

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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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Australia Introduces Regulations for Cryptocurrency Exchanges

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According to the latest information on the website of AUSTRAC (Australian Transaction Reports and Analysis Centre), digital currency exchanges must have to be registered with authorities now and should also commit to several identity checking and reporting procedures. It’s been confirmed by the Australian government as well that the Australian cryptocurrency exchanges are abided by the new AML (Anti-Money Laundering) rules.

The Australian authorities are trying their best to close the remaining loopholes in cryptocurrency usage, concerning identity management and taxation of cryptocurrency. In contrast to a backdrop of discontent due to such sharp upsurge in scams, last week, the Australian Taxation Office was asked for taxpayer’s contribution into how deductions rising from the cryptocurrency returns should be assembled efficiently.

cryptocurrency exchange

Four-Principle Rules

Meanwhile, exchanges now must follow the four prime rules so that they can function above board, as a part of the security reformation. Following are the four rules:

  • Identification and verification of identities of their clients.
  • Keeping particular records for 7-years.
  • Accepting and maintaining a CTF/ AML program for the identification, alleviation, and management of terrorism financing perils and money laundering.
  • 6 months refinement period that will escort the new regulations, in which AUSTRAC will be a lot more compassionate on operators who “fall short of requirements.”
  • Reporting to AUSTRAC sceptical issues, and transactions linked to the physical currency of $10,000 and even more.

The laws relating to cryptocurrency exchanges regulations in Australia are also getting stricter, while the government has guaranteed that the investors wouldn’t feel left out. The Australian government took feedback from the public to know what their views are on the cryptocurrency taxation structure and are they going to like it or not.

The ATO (Australian Tax Office) had also posted:

“We’ve timed this consultation to coincide with an update to our website, which should address some of the feedback we have received to date about our cryptocurrency guidance. We’re eager to hear your feedback about cryptocurrency and its tax implications as the technology may impact how business operates in the future.”

Feedback from Taxpayers

Many governments across the world are getting stricter, especially when it comes to the taxation of cryptocurrencies. Many exchanges are being forced by the governments to disclose the data of consumers and to send out subpoenas to investors who have high net-worth. While many governments are getting stricter, the decision of Australian government to get the feedback from taxpayers before applying these tax laws is notable.

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