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The price of Litecoin has seen a decline after LitePay’s debit card launch, which was scrubbed at the last minute and delayed indefinitely.

Litecoin Price Drops By 4%:

The cryptocurrency market has sustained to shake off the crash that it has experienced this weekend, and most of the large-cap cryptocurrencies have seen strong gains against the US dollar.

The cryptocurrency market index has increased by almost 7%, while Litecoin has seen a decline in its price by almost 4%. At this very moment, the price of Litecoin is $212, which shows that this cryptocurrency has seen a single-day decline of 4% and has the market cap of $11.7 billion. The huge chunk of Litecoin trading volume is focused on OKEx, which accounts for more than 31% of all LTC volume. Especially, KRW pairs, which frequently spike on altcoin recovery, contain a comparatively small amount of Litecoin trading at this time.

litecoin price drops

The current decline in the price of Litecoin appears to be related to the planned launch of LitePay (fintech startup), which was planned to take place on 26th February, but was partially postponed at the last minute and delayed indeterminately.

According to a report, LitePay is intended to offer a solution based on LTC payments that will make it quite simple for traders to accept Litecoin. This service will also issue a debit card, which will be LTC-funded, letting the users to circuitously spend their coins at almost any business.

The statement that LitePay would be launched on 26th February, led to a momentous Litecoin price rally. Though, the company also sent an email to its users just ahead of the planned launch, notifying them that an essential factor of the firm’s business model which is the “LTC-funded debit card” had been postponed indeterminately due to the antagonistic activities by card issuers towards crypto communities.

It is also said by LitPay, that it will open trader’s registration as planned, however, the indeterminate delay on the debit card service of it, caught lots of users by unexpectedly and have likely contributed to the bad performance of Litcoin today.

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REPORT: South Korea Is Considering to Reverse Ban on ICOs

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According to the latest report, in the coming months, ban on the ICOs (Initial Coin Offerings) by South Korea could be eased. In September, it was reported that the Financial Services Commission of the country had moved to ban the blockchain funding model. However, the latest report by the “Korea Times” claims that there’s a chance that the ban may get lifted, especially for token sales.

ICOs

From an anonymous source, it’s stated;

“The financial authorities have been talking to the country’s tax agency, justice ministry, and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met.”

Even with the local ban, a lot of cryptocurrency users in South Korea are still contributing to international ICOs. The official at the FSC (Financial Service Commission), that manages and supervises the cryptocurrency trading rules, Kang Young-soo, has denied to give any statement on ICOs and just said that third-party-view is being considered by FSC.

Moreover, Young-soo has also confirmed that the government is also looking forward to make a whole lot better infrastructure for regulating the trades of cryptocurrency and also to advance blockchain technologies. On the other hand, international cryptocurrency market is presenting new challenges for lawmakers as well.

At this time, there’s a ban on the overseas residents from trading cryptocurrency in South Korea. The main purpose of this ban is to curb money laundering and other cross-border crimes that might be possible. Meanwhile, it’s been reported that the officials of South Korea are having a word with counterparts in China and Japan, in order to discover regulatory collaboration, which at the same time, also means that any final regimes could be settled with those countries.

Right now, the biggest problem that the government is facing with cryptocurrencies is its inability to efficiently control taxes from cities that hold the currency. Though, countries like Japan have shown a way of managing it, by taking each ICO on a case by case method, while other countries like China have chosen a total ban. China is showing no sign of willingness to ease this ban on the ICOs (Initial Coin Offerings), as this is the country’s own ban, which was revealed in early September to South Korea’s announcement. When a ban on ICO was announced by South Korea, it was really discouraging, as this country is best known for accepting and implementing the latest technologies.

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Goldman Sachs – “Most Cryptocurrencies Will End Up Hitting Zero”

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According to Goldman Sachs, the cryptocurrency markets will not recover from their present correction. On 5th February, Steve Strongin (Goldman Sachs head of investment research) said, the high correlation between several cryptocurrencies makes him really anxious. Some currencies that do not survive are expected to trade to zero due to the lack of intrinsic value.

Strongin is worried about the possibility that maybe one or a few of the existing cryptocurrencies could ascend from the speculative bubbles, just like the crypto equivalents of Google or Amazon. However, he said that he doesn’t think that most of the coins will ever recuperate to their all-time highs.

There have been many questions arising like, is there any cryptocurrency that’ll be like Google or Amazon? Or are they going to end up just like the other now-defunct search engines? Strongin said that this doesn’t mean that the prices of cryptocurrency cannot increase at all because they are in a speculative bubble at this time. But at the same time he said, that most of the cryptocurrencies might bounce back to their all-time highs, but some of them are never going see their current peaks ever again.

most cryptocurrencies will end up hitting zero

This clearly shows that the speculative bubble is coming to its end and rather than as a collective asset class, investors are going to start judging the cryptocurrencies from their individual merits as a lot of casual retail investors are already familiar with it. It also seems like the ICO (initial coin offering) success will suddenly come to its end.

Strongin said that the winners-take-most sight of the market is not very unique to Goldman Sachs. On Wednesday, the founder of DCG (Digital Currency Group) Barry Silbert, offered the same remarks at “Yahoo Finance All Markets Summit: Crypto” with explicably more positive stance on the entire industry.

According to Silbert, a huge majority of crypto-assets are facing a binary outcome. They are either going to become extremely valuable or they are going to become worthless. He added, this is why Grayscale Investments (a DCG portfolio company) launched its newest product, a fund related to crypto-asset investment and it holds the market cap (weighted positions) in the most major five cryptocurrencies and balances it again quarterly to imitate market movements.

Many other experts have also warned the investors on cryptocurrencies. Nouriel Roubini, who’s a well- known economist said on Tuesday, that the price of bitcoin would also crash to zero. Warren Buffett also said in a recent interview that cryptocurrencies are definitely going to have a bad ending.

 

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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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Onestpay Best Method to Exchange Bitcoin to Paypal – PerfectMoney – Payeer etc

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What is Bitcoin Cash – How To Get Bitcoin Cash

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The hottest news coming out of the Bitcoin world is it being split into two. The hard fork, everyone was eagerly waiting for was carried out on August 1st and we no more have Bitcoin – the lord of the crypto – as a single entity. Yes, now there are two bitcoins:! BTC (original Bitcoin) and Bitcoin Cash or BCH (forked version of Bitcoin).

what is bitcoin cash?

Bitcoin Cash is similar to Bitcoin in terms of protocol: same block time, 21,000,000 supply, proof of work SHA-256 hashing, and the same reward system.

However, two of the main things that separate it from Bitcoin are: block size limit and the difficulty level.

Bitcoin Cash proposes to expand the block size to 8 MB compared to Bitcoin which offers a block size of just 1 MB. The other major difference between the two crypto-bros is difficulty level as BCH will adjust the difficulty every 6 blocks as opposed to Bitcoin’s 2016 blocks.

Some other differences are discussed in the following part of the article.

What Is The Difference Between Bitcoin And Bitcoin Cash?

  • BCH is an altcoin forked off Bitcoin
  • It separates blockchain and bumps up the block size up to 8MB
  • It removes Segwit
  • If the split is not successful or the community refuses the usage, BCH will soon diminish after the split.

How To get Bitcoin Cash?

Before obtaining Bitcoin Cash, make sure you go through the following points:

Get Your Private Key Ready:

Get a private key to make sure you have access to Bitcoin wallet. Having a private key is essential as without it, there is no way you can access the coins.

Create A BCH Wallet:

In order to keep Bitcoin Cash somewhere, you will need to create a BCH wallet. This will help secure your bitcoins and also assist to make transactions.

Do Not Trust Anyone:

Do not trust anyone, I repeat, do not trust anyone under any circumstances. You will be contacted with numerous scammers/tricksters whose sole purpose is to steal your coins. You can avoid them by not responding back and keeping your private key unrevealed.

What Are The Exchanges And Wallets That Except BCH?

bitcoin vs other cryptocurrencies:

The list of Exchanges/wallets that except BCH include:

  • Bitfinex
  • com
  • BTCC
  • CoinFloor
  • Quoinex
  • ViaBTC
  • Cryptopia
  • Jaxx
  • Korbit
  • HitBTC
  • Huobi
  • OKCoin
  • Bitflyer
  • Bithumb
  • Bittrex
  • Kraken
  • OKEx
  • Yobit

Wrap Up:

The word is, we now have two bitcoins: Bitcoin and Bitcoin Cash (BCC or BCH).

Just remember to be cautious while splitting your BTC and read as much about the split as possible. Hopefully, you made most of the split and are now enjoying your free coins.

Do let us know how the split turned out for you below!

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