The price of Bitcoin has a 91% correlation to its volume of Google searches, according to a search engine marketing agency known as SEMrush.
Image credits: steemit
Basically, this means that the number of Google searches related to “Bitcoin value” fluctuate with the price of google Bitcoin. In simple words, when the price goes high, more people are attracted to it and as it begins to drop, people become less interested.
How was this study conducted?
SEMrush discovered from a database of 120 million US keyword searches that were linked to bitcoin. Some of them are listed below:
The total number of Bitcoin and Bitcoin search volume was said to be approximately around 51,400,000 last year.
Is the case study simply approving the obvious?
Perhaps. As mentioned earlier, the interest of people is dependent on the price. The higher the price, the more the number of searches online.
Regardless, it’s quite interesting to note this connection and to discover that the numbers actually support what we might be assuming.
image credits: steemit
Since April 2017, the number of bitcoin searches has climbed up by 450%. During this time, the value of bitcoin had gone up from around $1,076 to a new hit of $5,000 just a couple of weeks ago.
Will it Predict the Price of Bitcoin? – That is the Question
Unfortunately, no. That is not the case and it’s silly to think that a search engine would be easily able to predict the price of the world’s most popular cryptocurrency.
A prolonged hyperinflation of the Venezuelan bolivar has made it just about unusable. Over the last couple of months, bitcoin has taken control over the country as the primary currency and the citizens have been using the digital currency to buy basic goods, medicine, and other key items.
Patricia Laya, Venezuelan Bureau Chief at Bloomberg, has revealed that the daily limit of country’s ATMs is set at 5,000 bolivars, worth around $0.05. Laya expressed that she had held up 20 minutes in line to get $0.05 in hyperinflated currency worth just about no value.
Because of the deficiency of money and the quick decrease in the valuation of the Venezuelan bolivar, the residents have started to investigate different strategies for payments since the start of 2017. Since the estimation of money has dove and the residents, organizations, and experts have effectively dismissed the cash, the majority of the Venezuelan population has started to opt for alternative forms of money.
Consistently, the fame of bitcoin inside Venezuela has surged, as a rapidly expanding number of individuals have begun to use the digital money as the primary cash, medium of trade, and store of value.
In a meeting with the Associated Press, Venezuelan inhabitant John Villar expressed that he has purchased two plane tickets to Colombia, his better half’s medicine, and paid his workers with bitcoin in the previous month. Villar stated that he plans to keep using bitcoin like the majority of Venezuelans.
“This doesn’t involve politics. This involves survival,” said Villar.
Currently, it is nearly impossible to buy any goods or services with Venezuelan bolivar, given its low value and adoption in the country.
In coming days, Venezuela may become the first country where bitcoin takes over the national currency and becomes country’s main financial system.
But Why Bitcoin, And Not Some Other Currency?
In Venezuela, the majority of the people have lost trust in the government, national bank, and banks. Its currency is almost broken and its esteem has dived to a point where no goods or services can be acquired with it.
Bitcoin is a decentralized and peer to peer currency framework, store of significant value, and a safe haven asset that shows a trustless ecosystem. Anybody inside the system can send and get payments from each other on a shared premise, without the involvement of intermediaries.
In future, bitcoin will probably rise as the real substitute to the declining fiat monetary standards. In the long term, bitcoin could even replace multi-trillion dollar fiat currencies like the US dollar, Japanese yen, and Chinese yuan, if it continues its current development rate and exponential increment in value.
BitMaker sends bitcoins directly to your wallet. You must update your wallet address each time you receive a bitcoin payment.
How does it work?
Users just have to try out other mobile applications or fill out forms of free trials for various products and services. Users are rewarded with in-app tokens called “Blocks”. These blocks can be converted to bitcoin or ether once it reaches a certain threshold.
When you open the app, you’ll be presented with a percentage that will slowly increase. When it reaches 100%, you earn 500 Satoshi. Since you get paid this amount every 30 minutes, you earn 24,000 Satoshi every day.
As you can see in the above screenshot, there is a timer. The counter begins at 30:00 and when it reaches 00:00, an ad is displayed after which you get paid.
Fortunately, the app has both “day” and “night” modes. In the day mode, the ad has an audio whereas at night they’re just silent videos.
How does BitMaker pay you?
If you keep earning enough Satoshi and meet the withdrawal threshold, BitMaker will pay you every Saturday. Withdrawing your rewards is very easy, all you need to do is update your Bitcoin Wallet address then click on “Withdraw”. You will get your rewards deposited to your Bitcoin Wallet the following Saturday.
The weekly reward for Satoshi changes every week since they are in line with the Bitcoin trade prices. You can earn more Satoshi by completing offers which offer more number of free bitcoins.
Since its launch in September 2014, BitMaker now reports it surpasses 250,000 active monthly users across 187 countries.
According to the BitMaker website, the app has paid out over 215 bitcoins and 34 ethers up to this point. This amounts to over $275,000 worth of payouts at current exchange rates.
On April 30th, CakeCodes is launching an equity crowdfunding campaign for BitMaker on Wefunder. CakeCodes intends to use the money from the Wefunder campaign to increase user growth, fast track development for an iOS app and add new features to the existing Android app.
“Nearly $600 billion is spent on global advertising, and yet many ads are simply ineffective,” said Simon Yu, CEO of CakeCodes. “Advertisements are everywhere and people automatically tune them out. We wanted to combat this by giving consumers the option to opt in and get paid for their time used on trying a new product. With Bitmaker, end-users get paid, businesses only pay upon engagement, and customer acquisition costs are dramatically decreased. Everyone wins. What we’ve done is create a simple, fun way for consumers to be rewarded for trying cool new products.”
Bitcoin is a decentralized digital currency. There is no physical existence of Bitcoin, just the verification and value it has been given by a global peer-to-peer network. All these transactions are recorded in Blockchains.
The blockchain is very much like a public shared ledger. All the confirmed transactions performed ever using Bitcoins are recorded in this ledger. These blocks are an ultra-secure data, treated like cash. All the transactions are received and sent through wallets which are digitally signed. To ensure security, bitcoin wallets come with a private key or seed. These signatures ensure that the transaction is performed by the current owner of the wallet and provides with the mathematical proof. In reality, there is no transfer of Bitcoins but the change of ownership and quantities of Bitcoins.
How Does a Transaction Work?
If person A needs to transfer Bitcoins to person B, the transaction carries three parts.
An Input- record of wallet of person A
An Amount- the number of bitcoins person A sends to person B
An output- person B’s wallet
How Can You send Bitcoins?
To send the Bitcoins to anybody you require two things.
A bitcoin address is generated by an individual randomly. It mainly consists of a sequence of numbers and letters.
A private is a secret key with a unique sequence of numbers and letters.
When person A wants to send coins to person B, she signs a message with her private key to authorize the transaction. The transaction will include,
Input (source wallet)
Number of Bitcoins to sent
Output (person B’s address)
Person A then sends the number of Bitcoins to the Bitcoin network from her wallet. Once entered in the network, miners will then verify the transaction included in the blockchain. The miners will then solve the mathematical puzzle and in the end, it will verify that person B is the new owner of the specified number of coins.
Just like account ledgers containing amount and names, blockchains function almost the same. People exchange money by changing this file.
For instance, if person A sells a product to person B for $5, person A’s balance goes up by $5 and person B will have a reduced balance of $5.
There are no third parties involved in the system, like banks or other financial institutions. So, who takes control and responsibility of controlling and maintain this ledger? Every coin holder maintains their own copy of the ledger. All the participants can see each other’s ledger and their balances. In Bitcoin ledgers, these names are exchanged with specific numbers to ensure anonymity.
To keep every ledger synced and harmonized, there is a protocol that needs to be followed. To do a transaction you tell everyone by broadcasting a message with your account number, the receiver’s account number and the amount to be transferred. Every coin holder around in the world will update their ledger.
There are people who help in maintaining the system. You can simply use the system to perform the transaction without maintaining the ledger.
To ensure sender is the real owner of the account, Bitcoin requires a signature to verify it, but a mathematical signature.
When an account is created, a private key is generated mathematically linked to that account number. The private key and the text from the transaction are processed through a special cryptographic function to generate a signature. To make sure the signature is done by the wallet owner and to the specific transaction, another function allows the other people to verify the signature. These signatures cannot be copied as they are unique to each transaction.
The main problem with the system is that this cannot verify when a transaction was performed.
For example, if a person falsely has to withdraw 2 cheques out of an account but it has enough money to cover one account. the bank will refuse the second cheque due to an inadequate amount of cash after the with drawl of the first cheque. It is much harder to determine the order in Bitcoin. Due to the scattered individuals all over the world taking part in the transaction, there may be a delay in different orders in different places. Fraudsters could lie about these time lapses.
Two recipients might both think their transaction is first and ship a product allowing the fraudster two spent the money twice.
New transactions go into a pool of pending transactions. These transactions then get into the giant chain that locks in their order. A lottery is then held, enabling participants to choose a transaction of their choice to solve a special problem to link them to the end of the chain. The person to find the solution first wins and gets their transaction next in the chain.
That’s how pretty much all the transactions in the Bitcoin system are performed.
Today bitcoin technology is the mainstream of the financial market. Everyone knows the limited supply of the bitcoin but everyone wants the bitcoin as well. You can earn Bitcoin by playing games. In addition, different bitcoin casino sites offer incredible promotions. Also, these promotions packages are connected to your holidays and vary from time to time.
There are few casino promotions offers on the market.
Free Spins Friday (BetChain):
BetChain is the strongly focused on the bitcoin community. The casino is now going to host “pocket dice” as well. BetChain casino offers 1000+ different bitcoin games. In addition, this number is more than any other bitcoin casino brand. Games include:
BetChain is offering these best online casino promotions for every single week. here,
You need to know:
BetChain offering free spin to its player on every Friday.
You have the option to receive up to 50 free spins
There is no need to redeem
Free Spins Tuesdays LimoPlay:
On each Tuesday, you have an option to spin and win. The reason is Casino offering 25 free spins to its players on the game of FruitZen and Bomanji. Here,
You need to know:
Deposit of at least $/€/£20 or 0.2 BTC
Bet at the same amount
Wow! This is done. You earned 25 free spins on both games (FruitZen and Bomanji)
Slot Wars from BitStarz:
BitStarz gives surprises to its top players. They can win 5BTC or 500EUR. It’s all depends upon the player’s capacity. Here,
You need to know:
Top 15 Bitcoin wagers and top 10 EURO wagers are making a leaderboard
Produce more points toward slot wars the more you bet
Follow the leaderboards on site’s online casino promotion page
Weekend Cashback from 7BitCasino:
On weekend, 7BitCasino offering its players a second chance to play cashback. Here,
You need to know:
Get up to 10% cashback up to €25 / 0.07 BTC
First priority of Payment is in BTC than USD and EURO
1 cashback is tolerable per person each weekend
High-Roller Games at Fun Casino:
Fun-Casino adds high roller games to its players. List of games is continually growing on. Here,
You need to know:
There are 2000BTC bankroll are available for these games
Bets and wins are higher than regular Casino games
Minimum limit of the bet is 1 BTC for high roller games
We have all been hearing about the coin-split for a while now, so there are possible chances that it could happen any moment. While most miners are choosing to side with Bitcoin Unlimited and mine blocks larger than 1MB, some are sticking with the current Bitcoin asset aka, Bitcoin Tokens. This could lead to the network being split into two, aka “hard fork”.
Before the Split
First of all, be aware that this is a high-risk zone. Do not be holding onto more value in bitcoins than you are willing to lose. If you are planning on holding onto your bitcoins, then keep your private keys secure and under your control. Try investing in a hardware wallet, like TREZOR, Ledger Nano S etc. These will keep your private keys secure and provide you a backup PIN in case you ever tend to lose them.
BE SURE TO MAKE A BACKUP OF YOUR PIN.
You must not skip this step while installing any wallet.
We are not sure of when the fork would take place, but indications are that it could take place at any time and things could get messy from a scale of a few hours to maybe even days.
As such, our advice is that you don’t make any bitcoin transactions during that time period, at least not until we’re sure of what the post-fork situation looks like.
During the Split
There is no set date given as to when the “split” could take place, which means that a fork could happen at any time. However, if BU does fork, things would get complicated for a while. For eg, post-fork, transactions will look the same on either side. If a transaction is picked up by one end, there are chances that it’d be picked up on the opposite as well and may be valid for both chains. This is called a “replay attack” and unfortunately, BU does not include “replay protection.” Ultimately, spending coins on one end could lead to the same amount being spent on the other.
What you should do is, avoid sending any transactions until the post-fork situation is clear to everyone and you are sure that Bitcoin Unlimited is a winner.
After the Split
In the future, if both coins survive and you still have control of your private keys, you will have coins on both sides of the fork. But, it will be tricky to spend coins on one chain without unintentionally spending the same amount on the other end.
A solution for this would be to mine new bitcoin value after the split. If the coins are not present on either end, then no one can spend them.
Some exchanges might even set up coin-splitting services that will credit your account with BTC and BTU. Perhaps you might have to upgrade your wallet.
Also, if neither of these survives, your private keys will probably become worthless.
No one clearly knows what the post-fork scenario would appear to be, so as of now, we simply wait and see.