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You can purchase bitcoins from either exchange or other individuals through marketplaces.

You can pay for them in various ways, going from cash to credit and debit cards to wire exchanges, or even with different cryptographic forms of money, depending on the person you are buying them from and the where you live.

How To Buy Bitcoin Online?

The fastest and easiest way to buy bitcoin online is buying it through credit or debit card. SpectroCoin is one of the renowned names that provide this feature. Through SpectroCoin, you can buy worth of $50 bitcoins jut within 10 minutes. And as you proved to be a reliable customer, the limit is raised to $200 and then $500 within a few days.

How To Buy Large Amounts Of Bitcoin?

Follow these steps to purchase bitcoins online in large amounts:

  • Find a reliable Bitcoin exchange such as Kraken or SpectroCoin
  • Buy bitcoin by paying in local currency
  • Transfer the coins to your wallet
  • Get a bitcoin debit card for easy spending

Learning how to utilize Bitcoin is much the same as adapting any other innovation. This will require you to get comfortable with how things work.

We profoundly prescribe you learn how to transfer bitcoins to a cold storage wallet.

Also, the Bitcoin cost can vary all over the world so make sure you do your examination to ensure you are getting a fair deal.

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The Blockchain is Utilized by South Korean Biotech Firm for Genomic Big Data Community

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A Blockchain Ecosystem is a digitized, public journal of all cryptocurrency connections. Continuously increasing as ‘completed’ blocks (the most existing offers) are recorded and contributed to it in chronological order, it allows market participants to keep an eye on digital currency deals without central recordkeeping. Each node (a computer system connected to the network) gets a copy of the blockchain, which is downloaded quickly.
Blockchain Ecosystems

Initially established as the accounting approach for the virtual currency Bitcoin, blockchains – which use exactly what’s called dispersed journal development (DLT) – are appearing in a range of industrial applications today. Currently, the technology is mainly used to verify transactions, within digital currencies though it is possible to digitize, code and insert practically any file into the blockchain. Doing so produces a long-lasting record that cannot be changed; moreover, the record’s credibility can be validated by the entire community using the blockchain instead of a single central authority.

How Blockchain Works?

To start, here’s the most basic explanation without any metaphors or embellishment. In the language of cryptocurrency, a block is a record of new deals (that could imply the location of cryptocurrency or medical information, or perhaps voting records). When each block is finished it’s contributed to the chain, producing a chain of blocks: a blockchain.

Because cryptocurrencies are secured, processing any deals suggests fixing complicated mathematics issues (and these concerns end up being harder with time as the blockchain grows). Individuals who resolve these equations are rewarded with cryptocurrency in a treatment called “mining.”.

Public South Korean Development

The brand-new collaboration will take advantage of blockchain tech to produce a medical big information environment that would allow for both the safe and secure and private storage and the transfer of large amounts of delicate genomic and personal information.

As the press release notes, advances in genomics are improving the international medical landscape, permitting individually customized diagnoses, treatment and prevention. Medical huge information, which incorporates people’ genomic, health and lifestyle details, is both extremely delicate and of remarkable worth for the pharmaceutical and healthcare markets.

Public South Korean biotech service Macrogen, the country’s principal biotech sequencing provider, is developing a genomic huge information blockchain-based platform together with regional tech firm Bigster.

Macrogen CEO’s Remark

Macrogen and Bigster objective to develop the platform and have chosen to develop a permission blockchain that would restrict access to specific organizations such as pharmaceutical companies, biotech firms, healthcare facilities, and research institutes.

Speaking to a local news outlet The Korea Herald, Macrogen CEO Yang Kap-Seok commented,

” In spite of its large utility, gene information has been challenging to move due to personal privacy defense problems and technological barriers. We hope that our upcoming blockchain-based platform will enable healthcare genet [ic] and medical big information to flow easily.”.

A precedent for using blockchain for the safe exchange of genomic information has in fact been set by American Nebula Genomics’ cooperation with Longenesis– the latter being a Hong-Kong-based partnership in between Insilico Medicine and the Bitfury Group.

United States healthcare huge UnitedHealth Group announced it would be carrying out blockchain to keep its records approximately date in a more effective, protected and available method.

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Is Cryptocurrency Still Great for GPU Makers?

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On Thursday, an American technology company, Nvidia has announced its financial results which were remarkable. The company has revenues of $3.2 billion from January to April. But what’s the reason behind this profit?

gpu makers

Well, the value of ether and other cryptos recently soared up and created lots of demand for graphics cards – to mine them. Due to the upsurge in the demand, the price of few high-end graphics got doubled between the mid of 2017 to February 2018. It’s a matter of concern for the GPU makers of major graphics-card, as the most important market for them is eventually the gamers, not the miners.

The idea of graphics-card makers collecting hefty profits from the high prices, due to the mining demand doesn’t seem to be liked by the gamers. However, Nvidia accredited that cryptos have played an important role in boosting the financial outlook of the company.

What does Nvidia’s CFO have to say about it?

CFO of Nvidia, Colette Kress said:

Cryptocurrency demand was again stronger than expected, but we were able to fulfil most of it with crypto-specific GPUs, which are included in our OEM business at $289 million.”

The $298 million figure is around 10% of the revenue of Nvidia and it seems like it lessens the cryptocurrency influence on the bottom line of Nvidia. If a customer buys a graphics card at retail, Nvidia won’t be able to know if it’s being used for mining, gaming or something else. The same story goes for the main graphics-card of a rival, AMD, which released first-quarter results a few weeks ago. According to AMD, the sales related to cryptocurrency accounted for almost 10% of total revenue, which could be again understating its influence on the profits of AMD.

GPUs Value

It has been observed that the value of cryptocurrencies has been falling for the past few months. Also, the value of GPUs has also gotten a lot cheaper than it was before. AMD didn’t provide any specific projection for revenues related to blockchain in the second quarter, however, the spokesman of the company suggested that the rest of the year 2018, is going to be significantly below the first quarter sales.

If the price of cryptocurrencies still keeps dropping, it will end up in the form of awful results for the GPU makers. But if the price of cryptocurrencies falls really low, it’s clear that we won’t only see miners halting to buy new GPUs but, we would also see them selling the graphic-cards that they already had on the secondary market. The resulting graphics card surplus could exhort the value of graphics-card below MSRP — MSRP would be good news for gamers though it might be bad news for the companies that are trying to sell new GPUs.

The president of AMD, Lisa Su said that she wasn’t really anxious about the scenario.

“There are multiple currencies being used — People who are mining do go from one currency to another depending on what’s happening.”

She also added that customers can buy graphics-cards for both purposes; gaming and mining. They will be able to hold onto the graphics-card for the gaming purposes — in the case of mining becoming unprofitable. On the other hand, this analysis seems to be debatable. There’s no doubt that there are profusions of cryptos, but at the same time, there are some of them which are economically significant.

Ethereum’s ether is the most important and significant GPU-mineable so far, and the prices of cryptocurrency are strongly linked to it. So, if the value of ether drops, there’s a possibility that the value of other cryptocurrencies might also fall with it. There are many people who want to buy graphics-card for various applications, and there are a lot of those as well that have many of them (graphics-card). These individuals might hold onto one or two cards for the gaming purpose, however, if the price of cryptocurrencies falls quite low, lots of those cards will end up in the used GPU market. This will also make it hard for both AMD and Nvidia in selling their new cards.

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Monero Security – 3 Main Techniques Behind Monero Anonymity Explained

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Along with being accessible through networks such as Tor and I2P, Monero implements various cryptography techniques to unlock an extensive level of security and privacy:

1. Untraceable Stealth Address

As we all know, reusing the same address for bitcoin transactions is a common privacy issue of Bitcoin. Receiving or sending multiple transactions to the same address can allow anyone who knows your address to track its activity. Thus, bitcoin is not a tool that should be used on the darknet, especially for privacy purposes.

On the other hand, Monero has no such privacy concerns. Monero’s blockchain is secured in such a way that only the sender and receiver are able to identify the destination address. Only a unique cryptographic hash is provided, to each and every transaction that can be decoded by just the send or receiver to disclose the real address. These encrypted addresses are called “stealth addresses.”

Related: Bitcoin’s current price

2. Unique Separated Transaction Units

When you send XMR to any address, it arrives as several separate payment units. Basically, each unit would appear on the Monero blockchain as being transferred to its appointed and distinct stealth address. This process is applied to the sender as well as the miners when any fees are paid to them. This makes tracking of any transactions far more complicated.

3. Undetectable Ring Signature Payments

Ring Signatures is another technique that adds up to the cryptographic system behind Monero’s blockchain.

Just to be clear, similar to Bitcoin, Monero also consists of a public and private key in order to engage in buying or selling of XMR.

For example, if you are to send 18 XMR to a shop, the XMR get sub-divided into 10,5 and 3 XMR streams, these flow into distinct Monero addresses of the ship.  The private key that authorizes any 10, 5 and 3 streams sent across the network, becomes a possible signatory to the transaction. The number of possible signatories is dependent on the “mixing depth” you set. As your transaction splits into units, ring signatures guarantee that transactions can’t be stalked back to any system’s IP address.

In the end, it’s almost impossible to track or identify Monero users

These 3 techniques provide maximum privacy and prevention from roaming trackers. Monero’s code ensures the anonymity of every user and leaves barely any possibility of a linkage to take place.

Related: Read more about Altcoins

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What are The Most Renowned Retailers and Services That Accept Bitcoin

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A number of websites already accept bitcoin as a payment option. So, you are lucky you have them. Now, get ready to shop and spend the bitcoins. If you are confused how to start and where to start. In this article, you’ll read about the websites that are accepting bitcoins.

Overstock

In January 2014, overstock was the first retailer which start accepting bitcoin as the payment option. Overstock partnering up with coinbase, which is the worldwide Bitcoin exchange. The company allows its customers to shop and make payments in bitcoins.

First, if you don’t own any bitcoins, you need to get them from an exchange or friend. Second, you are free to shop at overstock.com by using bitcoins. As the first and foremost retailer, Overstock expand its criteria of accepting bitcoin as the payment option. Third, click the “pay with bitcoin” on the checkout page.

Expedia

Expedia is worldwide online travel booking agencies. Which is accepting bitcoin as a hotel booking payments since June 2014. Same as overstock.com, Expedia associate with coinbase and start booking payments in bitcoin. Moreover, flights, activities and other payments may in the bitcoin.

Foodler

Foodler provides online food services and gets payments in bitcoin. While it was the early adopter of the bitcoin since 2013.

The customer has the option to order food and make payments around 20,000+ Foodler restaurant partners. These restaurants aren’t accepting bitcoin directly. Whereas, Foodler convert bitcoin into USD to pay the restaurant.

Newegg

Electronic retailer giant started accepting bitcoin since 2014. In addition, BitPay is the Newegg’s processing partners for digital currencies. There are few purchases which do not accept the bitcoin as a payment.

  • Gift cards
  • Marketplace subscription
  • Subscription order
  • Pre-orders
  • Premier membership
  • Return shipping labels
  • Will call order

First, you have to select the desired shipping option. Second, follow the payment procedure. Third, review the terms and conditions of the Newegg. Forth, Payment procedure of bitcoin includes;

  • If software wallet is on computer, click the button “pay with bitcoin”
  • If it is on smart phone, kindly scan QR code
  • On the web, you need to click “view address” and link to wallet address

Make an order and send the respected amount. Fifth, after fund transfer, paid invoice will be shown to the customer. And confirmed email will be sent.

Tiger direct

Customers have the option to shop up to 200,000 with bitcoin payments. It is teamed up with coinbase same as Expedia since 2014.

Shopify stores

An online eCommerce platform allows the customers to join and set up their own business just like Etsy or eBay. All 75,000+ merchants accepting bitcoin with the help of BitPay since 2013.

Dish

One of the largest company accepts Bitcoin payment since 2014. A satellite and internet provider network teamed up with coinbase.

 

Goodluck!

 

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What Is Bitcoin Hard Fork? The Most Intriguing Bitcoin Topic Explained!

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To begin with, Bitcoin has been the talk of every news channel, tabloid, website, etc. for a long while now. It’s increasing popularity might’ve caused a little problem for the network. Bitcoin is in a messy situation right now and something needs to be done. Fortunately, two possible solutions have been proposed as well, but only one can exist.

What is Bitcoin Hard Fork?

It is a compulsory software update that is required in order for the program to function.  It can be implemented to fix bug errors or any security issues present in the older version of the software. Also, a hard fork is irreversible.

The “hard fork” will split the blockchain, leading to the introduction of a new chain of transactions branching from the original one.

Bitcoin Fork Explained – What’s The Issue?

In simple words, Bitcoin is unable to withstand the number of transactions taking place on the network.

The technical explanation is that the 1MB block size limit which is programmed into the system has become a problem and is causing delays in the processing of transactions. Basically, a purchase can take from a few minutes to hours to confirm.

Two techniques were proposed, which result in two different solutions: Bitcoin Unlimited, and Segregated Witness. They’re both proposed software updates to the Bitcoin network with the aim to completely change the way Bitcoin functions.

Obviously, the two can’t coexist, that would “fork” the Bitcoin network – splitting it into two different digital currencies.

A fork is known as a software update. Basically, updating a program from an old version to a new one to fork bitcoin.

Bitcoin Unlimited:

Starting off with Bitcoin Unlimited, this proposal is favored majorly by Bitcoin miners. To understand this, you must know the concept of Bitcoin mining. Bitcoin miners use specified powerful computers to solve complex mathematical algorithms in order to verify a transaction and be rewarded with newly issued bitcoins.

We are aware that there is a built-in block size limit of 1MB in the Bitcoin network, however, BU gives miners the permission to vote on increasing the block size whenever they want. This gives them control of the Bitcoin network, due to which they’re favored by miners.

Segregated Witness:

On the other hand, SegWit is being voted by many Bitcoin enthusiasts and developers. Their aim is to optimize the Bitcoin coding in a way that allows them to decrease the transaction size and increase the transaction volume, all while sticking to the 1MB block limit. They suggest the use of a soft fork.

A soft fork is a software update that lets the network to adapt to the new functionalities and features implemented. The update doesn’t interfere with the existing software and the older version will still be usable.

When is Bitcoin Hard Fork Happening?

Every Bitcoin user around the world is anxiously waiting for August 1st– a day that will mark the history of bitcoin. No one really knows what to expect but we are all eager to know what will be the fate of Bitcoin. We’re approximately 2 weeks away from the big day so let’s reflect back on the possible end result.

On 31st July, the activation of SegWit2x is set to take place. SegWit2x is a proposal that will enact SegWit through a Soft Fork but will increase its block-size limit by Hard Fork after three months. So, basically, SegWit2x will be introducing Segregated Witness first which will follow a 2MB block-size increase three months later.

Moreover, SegWit2x has the support of major mining pools which means it’s backed up by miners.

What Will Be The Bitcoin Hard Fork Consequences?

When the 2MB hard fork is scheduled to be introduced, there are chances of a chain split to occur cause of the soft fork. This, in return, would lead some part of the community jumping on to SegWit2x while others remain on SegWit.

This can create a very messy situation as there would be two different kinds of Bitcoin present. The last thing we’d want is to damage Bitcoin, particularly since there are high chances of two competitor blockchains existing simultaneously.

What Should I Do in Order To Prepare For August 1st?

You’re advised to move your bitcoins to a private wallet, where you solely are in charge of your private keys. Also, be sure to do this before July 31st, and remain until storm calms down. We are not aware of what is in store for us on August 1st or the day after, and the future is a total blur. So, let’s sit back and watch the calendar hit August.

Who Will Be The Winner?

Aha! Too bad we can’t answer this question because half the community goes for SegWit and the other half for BU. There’s not really much we can do, just voice out our opinion and educate others with whatever we learn and maybe help them come up with opinions of their own.

We’ll just have to patiently wait and watch how this turns out.

I’d like to point out that I have a very limited technical knowledge and only know my way around a few technical terminologies. This post is a compilation of weeks of research that I’ve put together myself. So, if you do find any errors, do let me know in the comment section below and I’ll be sure to check.

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