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On 27th March, The Bank of England stated that it is undertaking a POC (proof-of-concept) to figure out how the new RTGS (Real Time Gross Settlement) facility is capable of interacting with DLT (Distributed Ledger Technology).

blockchain features

Real-Time Gross Settlement

Real Time-Gross Settlement systems are basically special payment systems where the funds transmission is conducted amid banks on a gross basis and in real-time. On the other hand, this means that the transactions are processed immediately after being settled on a one-to-one basis, deprived of connecting with any other transaction. RTGS systems are generally used for “high value” transactions requiring prompt payment and operate by the central bank of a country.

The RTGS blueprint was issued by the Bank of England in May 2017, stating that the new service will be providing a different and flexible variety of settlement models, to make sure that the payment infrastructures have gained access to the money of central bank.

Reason Behind Central Banks’s Announcement

After the announcement by central bank to test blockchain features, it explained the main purpose behind it, which is to develop a payment service, compatible with Blockchain technology. However, in the recent announcement of the central bank, it excluded the idea of transferring to DLT completely due to the immaturity of technology.

The central bank announced that:

“Although the Bank has concluded that Distributed Ledger Technology (DLT) is not yet sufficiently mature to provide the core for the next generation of RTGS, it places a high priority on ensuring that the new service is capable of interfacing with DLT as and when it is developed in the wider sterling markets.”

The UK bank is going to cooperate with the companies that develop payment solutions by using advanced technologies. Following are the names of the companies:

  • Baton Systems
  • Clearmatics Technologies Ltd
  • R3
  • Token

The capability of DLT-based payment systems to interrelate with the renewed RTGS service and to qualify techniques in which the service’s performance could be extended will be examined by the project parties. The bank is also considering to report their conclusions by the end this year. Also, the ECB (European Central Bank) along with the BOJ (Bank of Japan) released their Blockchain’s potential study this week, for altering securities settlements.

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How to buy and sell bitcoin for cash

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Bitcoin has taken the world by storm over the last couple of years. everyone, be it a kid or an elderly person, seems to be talking about Bitcoin as it is deemed to be the instant way to become rich. And quite rightly so, as there are numerous stories of people going from rags to riches just within a matter of days/months. This has led people believing bitcoin is an instant way to become and they are often seen asking: how to buy a bitcoin / bitcoins?

How to buy and sell bitcoin for cash

The best and safest way to buy Bitcoin is through exchange. There are numerous exchanges that sell Bitcoin both in bulk and minority. Some reliable exchanges are: CoinBase, BitQuick, Wall of Coins.

Once you have bought bitcoins and held them long enough to significantly appreciate in value, it’s time to sell.

Don’t know how to sell bitcoins?

Trade them at an exchange or find buyers in your area through local bitcoins and sell them on high returns.

You can sell Bitcoin for cash, commodities such as gold, or something you want to have in your locker to look at.

Remember that Bitcoin is highly unstable and continuously goes up and down in value. So, don’t hold much on your bitcoins and sell them right when the profit is high.

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Overstock & Square Shareholders Are Also Hurt by A Plunge in Bitcoin’s Prices

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Bitcoin Shareholders
Bitcoin’s price has plunged near $10,000 on Tuesday. Companies that have tied their whole wealth to cryptocurrency are also thrashed along with their investors. On Tuesday, Payments Processor Square, which announced the plans to allow for some Bitcoin selling and buying, lost almost $90 million market value. Twitter CEO Jack Dorsey’s company also ended at a regular trading value, $15.1 billion.

 

In the meanwhile, the e-commerce company that allows customers to pay in cryptocurrency, fell by 11%. It ended the day with a loss of almost $200 million and $1.8 billion market capitalization. According to Bloomberg’s report, China is also working on its regulations for app-based and other online cryptocurrency services that are similar to its exchanges.

Square and Overstock aren’t the only companies that experienced these disastrous results. In a past few months, some smaller companies have also announced plans to move into the blockchain space. In some cases, they use the word “blockchain” to get some of the sufficient investor interest for anything even vaguely related to cyrptocurrencies and they’ve also tied themselves to the volatility in cryptocurrency prices.

On Tuesday, shares of Riot Blockchain, once a + firm dubbed Bioptix, shed 17% and Chanticleer, an owner of some Hooters locations, shed 4%.

Eastman Kodak, best known for their cameras, fell 8%. At the end of the month, the company has announced plans to offer a cryptocurrency under the name of KodakCoin, initially sending shares up by 60% on the day of the announcement.

Shares of Long Blockchain (Long Island Iced Tea) shed 2%. On Tuesday, the one-time drink maker declared his plans to merge with a U.K.-based firm, Stater Blockchain, which focuses on developing and organizing globally accessible blockchain technology solutions in the financial markets.

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Tom Lee’s Prediction About BTC: Bitcoin will hit $91,000 by March 2020

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According to Tom Lee (co-founder and head of research at Fundstrat Global Advisors), the price of Bitcoin will hit $91,000 by March 2020. This prediction by Lee was based on a chart that shows the performance of Bitcoin after the slumps that it has seen in the past. Even though there’ve been many bitcoin future predictions since its creation, but Tom Lee’s prediction holds an important place in the crypto-world.

bitcoin future predictions

Can this prediction affect Bitcoin’s users?

No doubt, this prediction is going to excite many investors, and especially those who bought this top-cryptocurrency when it had the worth of $20,000.  The whole nation is under the influence of Bitcoin future predictions. A lot of risky things have been done by the people to jump on the Bitcoin bandwagon but unfortunately, this enthusiasm will not lose out on the cryptocurrency market as it has trapped investors in scams as well.

Not so long, a report said that Twitter was about to ban bitcoin advertisements after several credulous victims were caught in the recent scam.  On the other hand, the same thing was done by some other websites, as they also announced a ban on Bitcoin and ICO advertisements.

Following are the websites that are considering a ICO ads and Bitcoin.

  • Facebook
  • Google

How did Tom Lee predict Bitcoin’s price?

To predict the 2020 price of Bitcoin, Lee used an average of the percentage. The chart is based on a logarithmic scale and just because of its basis, as it’s divergent to the traditional linear-based graph, the ups and downs in the price of Bitcoin are not that dissimilar. The price of Bitcoin once fell to $3000 and since then, Lee has been predicting high-prices for this top-cryptocurrency.

Lee stated in July 2017 that the price of Bitcoin would hit the worth of $55,000 by 2022, and in January 2018, Lee said that by the end of this year, the price of Bitcoin would hit the value $25,000.

This year, at the beginning of March, Lee released “Bitcoin Misery Index”, which is defined as a “contrarian index’ and allows investors to understand how depressed Bitcoin holders are at the current price of Bitcoin right now.

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Thinking of Investing in Bitcoin? You Need to Read This First

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Investing in Bitcoin

Are you fascinated by the incredible rise of Bitcoin? Are you planning on making a Bitcoin investment but always hold due to the lack of essential insight? Then you have come to the right place. Here we have discussed the paramount factors that – as a potential Bitcoin investor – you will need to know.

The particulars we have covered here include:

Why Is Bitcoin Suddenly Gaining Worldwide Popularity?

Ever since the internet took over our lives, everything is becoming more and more reliant on it. And to make online transactions, we needed a currency that was more secure and less exposed to theft.

Several digital currencies tried to claim that spot, but Bitcoin is the only one that emerged as the victor.

The reason behind Bitcoin being the primary mode of online transactions is the security, reliability and complete anonymity that it gives to users.

Bitcoin is open to everyone and is not tied to a particular country; which makes it quite an exciting investment opportunity.

Why Invest in Bitcoin?

A bitcoin is worth well over a thousand USD. It may sound silly to some people but this is what the truth is.

Let’s take an example of gold to understand why bitcoin investment is a good idea.

Gold reserves on our planet are in a limited. The more we mine, the less is left and it becomes harder and costlier to find and mine.

Same is the case with bitcoins. They are finite and become harder to mine over time. Here are some key reasons as to why you should invest in bitcoins.

  • The monitory policy is predictable and can be verified by anyone.
  • Due to this predictability, it becomes possible to know how many bitcoins are in circulation and when new coins are created.
  • They can be transferred to any part of the world without government restrictions.
  • More corporations are starting to accept bitcoin as a form of payment.
  • If you understand Bitcoin, you would know that future belongs to this virtual currency.

When Is the Right Time to Buy Bitcoin?

As with any market, nothing is for sure. Throughout its history, Bitcoin has generally skyrocketed in value, followed minor, steady downfall until it settles.

If you want to understand current market trends and risks involved in the investment, go with the tools like Cryptowatch and Bitcoin Wisdom. These tools help you analyze charts and understand the price history of cryptocurrency.

Lastly, How to Secure Bitcoins?

As with anything valuable, thieves, con artists, and hackers are after your coins, so it’s necessary to keep them secured. But the question is, how to do so?

To gain maximum security, keep your coins in trustworthy wallets, such as Trezor and Ledger Nano S.

  • Trezor – it’s an offline wallet that generates private keys offline to keep your assets secure.
  • Ledger Nano S – a Bitcoin security company. Ledger Nano S offers a wide range of Bitcoin wallet addresss, and the wallets associated with this company are considered to be one of the safest out there.

You can discover more about these wallets on their official sites.

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How the blockchain is changing money and business | Don Tapscott

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