The US is titled as the 22nd most Bitcoin-friendly country in the world.
So, if you ever plan on setting up an exchange or a business regarding bitcoin, the US might offer you the right market. However, many Americans would look at this rather disappointedly because they believe that they’re unable to keep up with the technology or business industry as compared to other nations.
Well, here are 10 of the most bitcoin-friendly cities in America.
business regarding bitcoinAt the top, we’ve got San Francisco, California
Los Angeles, California
New York, New York
San Diego, California
And last but not the least, Washington DC.
So will you be paying any of these places a visit? Let us know in the comments section below.
Tags: Bitcoin info, which country uses bitcoin, bitcoin accepted countries
Story Credits: steemit.com
Image Credits: steemit.com
Bitcoin is the most renowned cryptocurrency today. From 2009 to 2017, just within a few years, Bitcoin has largely asserted itself as the richest people of the world are now showing great support for the currency. It clears that this century belongs to Bitcoin. Now, the question arises, how to take part in Bitcoin revolution. There are more than 100 different ways to join this blockchain revolution. We will discuss only a few of them here. Before the discussion, let me tell you some important points, which you have to keep in mind during Bitcoin’s ride:
- Briefly, explain about Bitcoin to others.
- Create transactions by buying Bitcoin.
- Acquiring bitcoins.
- Do transactions through Bitcoin.
- Setup your Bitcoin wallet address.
- Tell about Bitcoin revolution confidently. In addition, completely guide them about how they can use secure and transparent transaction system.
- Tell them the difference between the currency and Bitcoin.
Now, let’s start a ride to Bitcoin revolution.
1. Acquire Bitcoin:
If you want to acquire bitcoin, there are three ways users by users.
Accept Bitcoin Payments:
Through merchant, solutions get start to accepting Bitcoin payments. There are more than 100,000 retailers who accept the bitcoin as a payment. These retailers hold high-profile business like Amazon, Tesla, Microsoft
Bitcoin mining is same like gold mining. Gold mining is in hardware services whereas Bitcoin mining is done on the Bitcoin network. So what do you conclude; Tools for Bitcoin mining are gold pans or buckets?
No, Bitcoin tools include a powerful PC and specialized software. You can easily mine Bitcoin by solving the complex math puzzle. When miners successfully solve the puzzle, they get the reward of 25 bitcoins which becomes half every four years.
Now, you have to purchase Bitcoin using cash from Bitcoin exchange and after that, your Bitcoin wallet.
2. Engaged in Bitcoin Services:
The venture capitalist Tim Draper says, “Bitcoin world is this new ecosystem where it doesn’t cost that much to start a new Bitcoin company. It doesn’t cost much to start owning Bitcoin either, and it is a much more efficient way of moving money around the world.”
The most desirable aspect of Bitcoin is to start your own business with low cost.
If you have no idea how to start and where to start with Bitcoin. Then observe the current performance of expertise of Bitcoin.
Bitcoin payment processors and digital or hardware wallet services are used for this purpose.
3. Provide Solutions for Acceptance:
If you can create a way to convince non-users to use Bitcoin, you are onto the winner.
4. Leverage Blockchain Technology:
For many financial institutions, the blockchain recording system holds promise as a secure, improved and transparent method to speed up transactions, cut costs, and eliminate fraud. Because of this, organizations are looking for ways to leverage blockchain technology for their own businesses.
5. Invest in Bitcoin:
Bitcoin is limited in number – 21 million to be precise. So, being an investor, you must know that increase in demand leads to the limited supply, hence the higher prices. If you are looking for a long-term solution for your financial problems, investing in Bitcoin is the best way.
Before discussing the legality, we’d like you to know exactly what is Bitcoin mining is and how does it work.
Bitcoin mining illegal refers to the process of adding transaction records to a public ledger called Blockchain. In this ledger, every single Bitcoin transaction is recorded, and the record is always open for the public access. The record of these transactions is organized into blocks.
The creation of these blocks is what Bitcoin mining is based on. Every time a new block is created, it is added to the Blockchain for public to see it. However, it does not reveal the identity of parties involved in the transaction.
The block creation is done through solving mathematical algorithms using powerful computers.
So Why Would It Ever Be Considered Illegal?
There may be several reasons as to why people consider it illegal. More than often Bitcoin mining is confused with counterfeiting the money, which is completely false.
You are not counterfeiting your national currency, but rather creating a completely new currency.
Another reason behind some governments opposing Bitcoin is due to it being decentralized. Due to the fact that Bitcoin cannot be regulated or controlled, several governments view it as a threat to their national currencies. Some governments also believe that Bitcoin is actually undermining the government itself by offering non-state currency.
Moreover, the Bitcoin cryptocurrency can be mined illegally. One of the most common examples is the miners hacking your PCs through malware and using their processors to mine coins.
In Which Countries Is Bitcoin Mining Illegal?
The governments all around the globe have a mixed stance on this subject. For example, in Russia, the possession, as well as the use of Bitcoin is illegal. In fact, Russia is considered to be one of the biggest anti-Bitcoin countries out there. Presumably because of the current financial crisis brought about by low oil prices and the sanctions instituted as a result of Russian activities in Ukraine.
Ecuador is another country to oppose Bitcoin, but interestingly enough, has launched its own digital currency. The currency is designed to lower the government’s reliance on fiat currency.
Another country to outlaw Bitcoin is Iceland. Then there are other governments such as Indian government that have made negative comments against Bitcoin but haven’t launched any official bans on the mining/ownership of the currency.
Legal Bitcoin Mining:
The majority of governments seem to be okay with Bitcoin and have not made any negative remarks or launched an official ban as of yet. US, China, South Korea are few to name.
In these countries, you can legally mine the coins by using your own Bitcoin mining hardware and electricity resources. However, stealing the said resources may still result in prosecution.
For more information on mining hardware, Read our guide on how to set up a bitcoin miner.
In all, Bitcoin mining is completely legal and safe for the users. Although there are some countries that have outlawed the currency, many countries remain to be silent on the issue and have passed no legislation for or against the most widely used cryptocurrency.
Bitcoin price has rebounded from $6,500 to $7,034 with the market cap of $125 billion, at this very moment. Other smaller cryptocurrencies including VeChain and Steem have somehow surpassed bitcoin with a 50% and 25% surge in value, respectively, while other major cryptocurrencies like Ethereum, EOS, Bitcoin Cash, Ripple, and Litecoin have also performed quite well over the past few days.
Bitcoin Price Surge
Since 30th March, bitcoin couldn’t surpass the $7,000 mark, due to its low volume. However, on 25th March, Bitcoin price achieved $9,000, with comparatively strong volumes on the cryptocurrency exchanges. But since then, the price of bitcoin has seen a constant decline. Even though the price of Bitcoin went to $8,800 but then again, it failed to sustain momentum and its price fell to $6,400.
For surpassing the $7,500-mark, Bitcoin will have to sustain its volume for the next few days, then it will be able to move back to the $8,000 mark. At this time, the RSI (Relative Strength Index) of bitcoin is at 39.2 however, earlier, it was at 30, indicating oversold situations. Bitcoin is currently being traded in a neutral zone, also the top-cryptocurrency hasn’t shown any overwhelming sell volumes.
Therefore, the next few days are going to be really important for bitcoin, as its value has increased over the past 48 hours, and according to bitcoin’s MACD (Moving Average Convergence Divergence), it has started to gain a little bit momentum.
Jon Matonis’s Views About Bitcoin
A well-known investor, an executive at VISA and the co-founder of Bitcoin Foundation, Jon Matonis, has stated that the entrance of financial institutions such as Goldman Sachs could lead to an increase in the demand towards bitcoin (in the mid-term). Different Bitcoin analysis are being done, but if the leading cryptocurrency can recuperate from its present bear cycle, then experts like Matonis are predicting a bull run for the top-cryptocurrency, Bitcoin.
“I think it’s fabulous that they’re getting into it because it brings in new liquidity. They’re going to develop futures markets, options markets, I even think you’re going to start to see interest rate markets around bitcoin. We’re used to hearing things about Libor, the index for bitcoin interest rates is Bibor”
SEC Against ICOs
Also, according to the New York Times report, the ICO founders, called Centra, were arrested for defying US SEC (Securities and Exchange Commission) as they were distributing securities without getting any approval from the US Securities and Exchange Commission. If the SEC still keeps on curbing ICOs, it could lead to a wane in motion within the ICO ecosystem, globally.