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After April 28, Rising center of blockchain technology, the city Hangzhou is going to establish itself. The government of Hangzhou is going to establish China’s first blockchain park. In addition, that park will be with preferential policy support.

Hangzhou????

Hangzhou is the capital of china’s province Zhejiang. This place is famous for its southern terminus of the ancient grand canal waterway. Now, this place is going to be the hub of this new technology.

An event of G20 summit in 2016, brings the Hangzhou to the stage of economics and politics. Moreover, along with Shanghai and Beijing, Hangzhou is rising city in china which is going to be dynamic and a big supporter of innovations and technologies even in transformative industry.

CEO and founder of the imToken states about his new company, “We have decided to move our team to the Blockchain Industrial Park. The government of Hangzhou has promised companies moving into the park subsidies for office and talent recruitment, tax deductions and government funding support. However, the supportive attitude of the government matter[s] more to us than that of subsidies. I believe this active approach from the government will enable Hangzhou to stand out as a financial technology city.”

Direction from banking sector

Central banks around the world are trying to move their infrastructure to blockchain technology. Because this technology has enough power to renovate the banking industry and directly create an impact on a current mechanism. In that scenario, People’s bank of China has completed the trial version of its own digital currency. In addition, the bank is going to be the first central bank which has the ability to issue digital currency. Interestingly, the bank of Hangzhou and China’s A-share companies also attend the summit.

Head of e-banking Hu Feihua states, “Bank of Hangzhou is always trying to keep abreast of the most updated technologies beneficial to banks. For blockchain, not only will we try to support the blockchain industry by providing an easy access to loans to startups, but we ourselves have a special team focusing on the research and development of blockchain. As a matter of fact, Bank of Hangzhou is one the members of a banking think tank that have to contribute to PBOC’s digital currency.”

Furthermore, “This is an interesting question. Job cuts seem inevitable when it comes to technology innovation. But for Bank of Hangzhou, we actually expect our staff to update themselves in their thinking and skills so that they can offset the risks of being sacked. On the other hand, banks will still be important and there are always rooms for us to use our workforce to increase our standard of service. Therefore, layoffs will not impede us in developing blockchain technology.”

China’s strategy

According to the official report of Hangzhou’s government, Hangzhou is now going to host 12 blockchain startups, which is a number crossed by Shanghai and Beijing.

Blockchain technology market trends are promoting by the central government of the China and its local government. Therefore, the reason is, users of China’s three exchanges Huobi, OKCoin and BTCC are not allowing to withdraw bitcoins. Which is directly the reflection of China’s aim of social and financial stability. That should never fall weak in front of market strategies, which place them at risk.

In 13th five-year social and economic program blockchain became as an important direction to innovations seekers. Because this plan is the most important strategy to the social and economic sector of the China. Plan for 2016-2020 set by this program.

Therefore, Hangzhou ‘s summit of this year proves that China’s strategy is to implement this plan to make it accessible for the locals. China’s capital will exceed in terms of funding, talent and wisdom. As a result, cities like Hangzhou and other cities will hold the summit next.

In the middle of June, Hangzhou and other countries will hold a high-level blockchain summit. In addition, china is going to be a strong entity in the digital world. Thus, a large number of people believes that China is the driving force of fifth industrial revolution.

 

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Bitcoin Mining – Everything You Need To Know Is Here

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What is Bitcoin Mining

The terms “Bitcoin mining” is used to describe the processing and confirmation of Bitcoin payments on the network. In Bitcoin mining, the information is distributed, validated and stored on blockchain – a digital ledger which is used to store the transactions made in cryptocurrency such as bitcoins.

The transaction process of Bitcoin is different from traditional transfers as there are no third parties – merchant accounts, issuing bank, acquiring bank – involved.

Who Can Participate In Bitcoin Mining?

Almost everyone with a regular PC can participate in Bitcoin mining. All you have to do is to run a specialized software and you are good to go. The Bitcoin mining software are compatible with all PCs and operating systems. In addition to running on regular PCs, some companies have developed specialized Bitcoin mining machines that can build blocks and process transactions in a quick and efficient manner.

Find out what our beginner’s guide has to say about how bitcoin works.

How Does Bitcoin Mining Work?

In Bitcoin mining, the participants are given mathematical problems and asked to assemble a block of outstanding transactions by solving those problems. In exchange, the miners get rewards for all of the transactions they process and receive fees for successfully validating those transactions.

In addition to those fees, the miners also receive an additional reward for each block they mine from the bitcoin blockchain.The reward was previously 25 bitcoins but it has now been decreased to 12.5 bitcoins (equivalent to $7,000) which are still pretty high.

Because the reward is so high, the completion of mining is also incredibly tough. Thousands of miners from all across the world compete to assemble the block as quickly as possible.

Here’s a fun fact for you: “The total power of competing for Bitcoin computers is 1000 times higher than the top 500 supercomputers in the world.

Is Bitcoin Mining Harmful for PCs?

A few years back, Bitcoin mining was not so mainstream and no dedicated hardware was built to support it. Moreover, the miners of past used to overuse their systems which often caused damages to PCs. However, the technology has advanced and various manufacturers are developing computers that are specifically designed to support Bitcoin mining; which has made the process safer than ever.

What Are The Benefits Of Bitcoin Mining?

There are several benefits of Bitcoin mining. The ones that top the list are:

  • Bitcoin mining is like creating money from nothing.
  • There is some cool hardware involved such as ASICs, FPGAs, and GPUs and Bitcoin mining gives you the opportunity to play around with them.
  • You compete with others which ultimately helps you create an efficient mining system
  • Bitcoin mining is considered to be less risky because the coins never devalue. in fact, the more people use this currency, the more it appreciates in worth.
  • Bitcoin mining is not a waste of time. It’s actually a hobby that pays something back.

These are some of the facts, benefits, and details of how Bitcoin mining works. The process is quite intriguing and if you are trying to make some extra cash, becoming a Bitcoin miner is never a bad option.

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Bitcoin profitability

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Bitcoin profitability

When I do shopping, I like to buy goods at a low rate and save some amount. This is much difficult to attain profit while you are buying or selling something.  In the same way, when you are using bitcoin ATM in exchange as well as in buying of goods.  You can make bitcoin profit… not serious???  Yes, you can make the profit while you are using bitcoin ATM.

Bitcoin ATM industry is few year old but is growing every day. It’s almost more than 500 ATM worldwide. Basically, profit from bitcoin is not easy money. You need some targets for your success. Firstly, make it sure that you are making transactions in legal manners with a required license. Secondly, it is very important to choose the public place. Third, you need some promotion of your machine to your surroundings. Fourth, you have to maintain bank relation for the back end. Five and the most important is to make a good reputation.

Furthermore, ATM charge 5.2 % fee or 6% assume $2k gross profit per location on average. This fee can be varying from place to place. Here is an example of $20k per year means $100 gross profit, which is nothing. On the other hand, in a case of Robocoin, an operator will pay $1 fee. According to Robocoin statistics, 1/3 of all sell bitcoin transactions. Whereas, 2/3 buy operation on average. It is assumed that buy and sell transactions are on an equal scale, but it varies. Actually, not all bitcoin ATMs operation support these two-way transactions. Sometimes there is only buy operation and average buy and sell is $480 and $750. Ironically, operation matrices highly depend on many factors including place, area, country, traffic etc.

Here, we created 3 scenarios for bitcoin ATM by using the calculator. Basically, these are theoretical calculations, which do not need any promotions and marketing process.

Is bitcoin mining profitable?

Scenario no. 1

Skyhook is only one-way transaction operator and the bill acceptor is limited to a capacity of 500 bills. Which makes it the cheapest ATM. On the other hand, it is with limited in operations like does not accept large Euro banknotes. The most important things in place, you have to choose the right place.

For example, cash logics are done by the operator and we don’t have to pay rent. Average transactions are 100 per month and average transaction of $50. After the period of payback of bitcoin ATM which is 4 month, it will bring $235 to the owner every month after the return of investment.

 Scenario no. 2

This scenario includes more than two bitcoin ATM machines. Most of them support two-way transactions process and much solid than the scenario 1.  For example, ATM cost is $6000 and per year transactions are 100 which average transaction is at $150. Calculations show that after 9 months of launching it will reach to its break-even period. Whereas it brings $705 per month to its owner after investment return.

 Scenario no. 3

Robocoin ATMs, the most expensive ATM in the market. These ATMs are fully equipped and also support two-way transactions. ATM cost is $15000 with 150 transactions per month and average transaction size is $300 per month. Because of its function, it also looks like the standard bank if ATM.

Here is some example of different ATMs we find on the internet. Vancouver first Robocoin machine, Bit Access stats, Black Star Pastry Bitcoin ATM, Skyhook Bitcoin ATM in the Philippines, Satoshi points Bitcoin ATM in Bristol, Operators survey, BTCPoint analysis, Two-way BitXatm machines in Switzerland.

Conclusion

If you are going to purchase bitcoin machine don’t expect too much. Make your relations strong and promote your machine.  Above are some example and will support you to make your decision profitable.

GOOD LUCK!

 

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What is a bitcoin wallet address?

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If you’re having difficulty in understanding the difference between Bitcoin wallet and Bitcoin wallet address keep reading on to clarify your doubts.

Before we dive straight into the address bit, you need to understand what exactly a Bitcoin wallet is.

What is a bitcoin wallet address

A bitcoin “wallet” is basically a vault for your bitcoins. It contains all the information on your transaction history and balance.  It allows you to store, send and receive bitcoins.

There are two main types of wallets:

Software walletIt’s to be installed on your desktop or mobile. This wallet will be completely under your control and it is your choice what kind of software wallet you’d like to install.

Web walletIt is hosted by a third party and is usually quite user-friendly, but it is your call to trust the provider to maintain high levels of security to protect your bitcoins.

What is a bitcoin wallet address?

It is simply a unique 26-35-digit combination of letters and numbers and it looks something like this, 1ExAmpLe0FaBiTco1NADr3sSV5tsGaMF6hd

Addresses can be generated at random and free of cost by any Bitcoin user. You will use this address to receive and send bitcoins from your wallet. You are able to send bitcoins to someone, by sending it to their bitcoin address. However, for each payment request or invoice, a new bitcoin address is generated.

Your Bitcoin wallet address can also be represented as a QR code. If somebody wishes to send your Bitcoin, they can scan the code using their Bitcoin wallet and send Bitcoin to your wallet:

What is a bitcoin wallet address

Bitcoin addresses are created as part of a key generation process that creates a pair of keys. They are a matched set, where one is public and the other is private. When you “sign” a bitcoin address you are running the public and private keys through an algorithm that checks whether those keys belong together. Usually signing is talked about in the context of a message. Someone sends you a signed message and you can verify that the message came from the genuine person. You can verify the message because it was signed with their private key and you match it to their public key.

When sending bitcoins, the signed message is a portion of the bitcoin transaction and you do not explicitly see the message, it is just part of the transaction. This lets you validate the ownership of the address. The transaction was signed with the owner’s private key and you check that it’s valid using their public key. Bitcoin wallets usually contain this message signing and verification functionality.

Make sure you and only you control the private keys to your bitcoins!

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How to Find Out If an ICO Is Worth Your Time or Not?

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If you want 2018 to be the most profitable year for you, then it’s time to make some smart investments, as advantageous opportunities are still there waiting for you. Technology gets advanced real-quick, so you make an investment in something promising like ICOs. But which one is the best ICO to invest in? Well, it’s obligatory to choose an ICO launched by a reliable company that means business; or else, you might have to cope with a thwarting experience that might even daunt you from investing anymore.

Best ico invest

Future Development

  • It’s imperative to know the nature of a business, which starts by evaluating whether the ICO has been created by a trustworthy company or not.
  • New tokens must have a connection with the business model of the company.
  • It’s important to know the purpose of the token as well as its worth for the firm.
  • Apart from going for a well-organized business with a robust plan, the investor must comprehend the feasibility of the financial and economic model behind the ICO.
  • The platform must explain the post-ICO strategy clearly as well as its future development.
  • Nevertheless, funds that are raised through ICO should have an evident purpose.
  • The top ICO is the one that describes all the targets and objectives that the business is ready to accomplish in the future.

Ability of Team

  • Stay away from ICOs that run anonymously.
  • An ICO website should have each and every detail about the team.
  • A hard-working team will showcase the abilities of members through their project.

ICOs have become a huge hit for investors, and the technology behind them is extremely complicated.

 

Implementation

Scrutinize not only the business idea but also the possible long-term operation. Many ICOs seem great on paper, however, the idea behind them is unrealistic. Also, make sure that the project has a robust and feasible idea behind it.

ICO Scalability

A business that doesn’t have any aim to scale will not go so far; showing a lack of perception from the team and the circumstance of having no goal in mind. Deprived of any target, it will be quite easy for the whole project to ultimately fail.

ICO Transparency

  • You should have complete access to information before you deposit even a single penny.
  • If you hardly understand what ICO all about is and find no communication means to find out more, don’t invest in it.
  • The whitepaper signifies the idea and mission statement that explains the business and how investments are going to be used.
  • It must encompass enough details for investors and the platform should be mainly substantial as well – offering easy access to inclusive materials about the activity of the company.

 

Presence of Social Media Platforms

  • Online presence matters a lot. The company behind the ICO has to be active on social media networks including; Facebook and Twitter.
  • The blog posts and social media accounts must also contain educational content so that investors can get informed related to the current state of the cryptocurrency market.

 

 

Project Phase

  • Developers that don’t have enough experience can turn your investment into an anarchy. So, do not take a chance of investing in ICOs that are launched by inexpert individuals.
  • Consequently, the best option is to stick to an ICO that is developed by a company that has a strong position and is stable on the market.

 

Soft Cap and Hard Cap

  • Pay attention to the soft and hard caps of the ICO.
  • Make sure to take a long look at the roadmap, submitted by the company as portion of their whitepaper and ensure that the hard cap makes sense.

 

Tokens Management

  • The token distribution structure should not errand the developers. This could also specify that the intention of team is to increase their own financial gains whenever the value of token will upsurge.

According to a recent report, 204 ICOs were analyzed with known-outcome and the data shows that ICOs created an average ROI of 1,320%.

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