Introduction to Bitcoin
Bitcoin is a new cryptocurrency in the digital world. To begin with, the bitcoin network isn’t under control of any one central authority with Bitcoin investment. Which means, no banks! No need of heavy fees for transactions. No need of central authority’s order to confirm the transaction and you can carry out transactions anonymously. Also, bitcoin stores details of every single transaction that ever happened in the network, in a huge version of a general ledger called the blockchain, which keeps a record of every transaction and verifies them through proper ways.
How Bitcoin works?
Bitcoin is pretty much like cash for the internet and is used to purchase things electronically.
How does Bitcoin work?
19 July 2017, A passionate digital currency backer says that Bitcoin is going to hit $500,000 during the next three years.
According to him, Bitcoin’s potential is not a joke, and that he is ready to take any bet to the contrary.
People were quick to respond:
One might think that McAfee is on the extreme end, but he is not the only one manifesting this much optimism for Bitcoin. Tom Lee – one of Wall Street’s biggest equity bears – also believes that Bitcoin is the new gold with a potential worth of $55,000 by 2022.
“One of the drivers is crypto-currencies are cannibalizing demand for gold GCQ7, -0.20%”, Lee wrote in a report. “Based on our model, we estimate that Bitcoin’s value per unit could be $20,000 to $55,000 by 2022 — hence, investors need to identify strategies to leverage this potential rise in crypto-currencies.”
That’s a major jump from $2530. Lee considers Bitcoin as a Gold, and the reason for this is the ever-increasing value and high demand of Bitcoin. Lee added, “Bitcoin supply will grow even slower than gold.” And, “Hence, the scarcity of Bitcoin is becoming increasingly attractive relative to Gold.” Lee also wrote, “This is a game changer, enhancing the legitimacy of the currency and likely accelerating the substitution for gold.”
Today’s value of Bitcoin is $2303.28, which reached $3018 on June 11, 2017. However, the drop is just being touted as temporary, and Bitcoin is expected to pick up the pace again in the coming days.
Story Credits: MarketWatch
The most hot news circulating at all the major crypto platforms is about Telegram ICO which has hit $1.7 billion according to the public documents shown by the company. It was announced in these documents that the second round of Telegram ICO had just succeeded in raising $850 million. This amount was being attained in a sale that began on March 14.
It was also reported in these documents that a total of 94 investors took part in the above mentioned funding process. Average individual investment was recorded to be $9 million during that funding process. It is also a notable point that the previous funding of Telegram ICO also comprised of $850 million. It had a total number of 81 investors and the average individual investment was $10.5 million at that time. These documents were filed with the US Securities and Exchange Commission.
Report submitted to SEC
Both the above rounds of investments were being reported to the SEC. The submission of this report took place under Rule 506(c) of Securities Act Regulation D. it must be noted that this rule allows unregistered securities issuers to accumulate an unlimited amount of funds as long as they follow the below mentioned rules:
- The company raising these funds must file a simple report with the SEC.
- Such a company must bound its contributions to accredited investors.
- The investors of such funds must submit a predefined vesting period before they sell their stakes.
Is Telegram ICO Opaque?
Somehow, Telegram ICO has managed to remain transparent during the all that fund raising process and has followed all the rules and regulation. Along with the handling of the ICO, it has also been significantly transparent.
However, it is not clear whether this fundraising success will conclude the firm’s token sale or the company will continue to raise more and more cash for the aforementioned project in the upcoming days.
Aftermaths of Telegraph ICO’s success
No doubt to raise such an amount of funds in such a small span of time is a huge success, it has also scared many big-name investors right away. Even the well known cryptocurrency giant Pantera Capital is among those who are a bit terrified with the success of Telegraph ICO.
It is being expected that Telegram Open Network (TON) will soon be a revolutionary blockchain for the third generation era of crypto investments. The native token of Telegram Open Network is known as the “Gram”. So far TON has a network capacity of processing approximate 1 million transactions per second virtually free of cost.