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The so called bitcoin bull Tom Lee sees cryptocurrency market to experience a massive outflow before the cryptocurrency taxes closing. Tom Lee is considered to be an authority on the bitcoin as he is the Managing Partner and the Head of Research at Fundstrat Global Advisors. His views are considered to be quiet solid and authentic about the crypto business.

crypto news

Alongwith the above predictions Tom Lee has also very optimistic views about the crypto currencies specially the bitcoin. According to him the current positive amendments and announcements about the cryptocurrency are the main factors that can undoubtedly act as a catalysts for the growth of bitcoin in the year 2018. He further predicted that at least 3 major publicly-traded corporations would short sure issue their own native digital tokens. And this prediction has been took serious in terms of valid crypto news as three major companies have already announced their efforts within crypto-currencies.

 

There are also clear indications that all the major financial corporations might start moving towards crypto-currencies before Wall Street makes its mind to do so. The Rakuten Coin is a well elaborated example of this progress, it was launched by the Japanese e-commerce company Rakuten. All these are the positive developments in terms of crypto market which are somehow related to the previous predictions made of Tom Lee.

Facts which do not Match Tom Lee’s Prediction

Though some of Lee’s predictions were a real good shot in the past but some of his famous flops in this regard should also be considered. For example the large sell-off in Bitcoin and other cryptocurrencies predicted by him at the start of this year was a total flop. The starting price of Bitcoin this year was above $17,500 which witnessed a rapid downfall to about $6,115 by February 6th. Though prices did recover with a steady pace but it was a shock for most of the investors which ultimately broke their heart.

 

Lee’s next price prediction for Bitcoin stands at $20,000 by June this year. He also gave a target of  $25,000 for the end of 2018. Other famous prediction by Tom Lee included that the famous social media network Facebook and ecommerce platform Amazon will announce its own crypto strategy this year.

Other Examples Cited By Lee

Some other significant examples cited by Lee are as follows:

 

Line, the famous Japanese messaging announced that it is going to launch “Line Financial”. It will be a division allowing users to exchange digital currencies.

Expected use of the blockchain technology by Starbucks. Moreover Mark Zuckerberg also announce in an online post this January that his company would look into cryptocurrencies this year

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Will Pantera Fund Succeed, Even if Bitcoin Flops?

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As the first U.S. Bitcoin investment firm, Pantera Capital mainly focuses on tokens and projects related to crypto assets. Its chief executive officer, Dan Morehead (CEO) recently claimed that even if bitcoin fails, the Pantera fund would still not disappoint the crypto investors and they would continue to make money.

The above-mentioned words of Morehead were a part of his statement, which was included in a letter sent to Pantera’s investors. According to Dan Morehead in case any bad luck they could even make use of Pantera’s ICO Fund. Though Pantera´s ICO Fund lost about 25 percent of its value last year, it is still up more than 200 percent of its value since its creation. Pantera Capital is famous for exploring and growing digital coin ventures.

pantera fund

Facts behind Pantera’s Success Strategy

After its huge success with Bitcoin, Pantera has expanded its mode of investments to buy other digital tokens. Most prominent one of these is the Pantera Digital Asset fund, which currently holds 25 cryptocurrencies. Many of these tokens were introduced through the ICOs (initial coin offerings).

Advice For The Investors

A letter was sent to the investors by Morehead in which it was noted that if bitcoin fails, the hedge will still work well. Taking an example of Pantera’s ICO Fund, he highlighted that it’s going to be still positive for them. In his letter, Dan Morehead, advised investors to have 1 or 2 percent of their portfolio invested in blockchain technology. He further explained that he was not certain either blockchain will be able to make a return of 20,000% again or not.

It was also revealed by Morehead that he is optimistic about ICOs, as he expects their thriving success to be similar to the 90s IPO boom, however it’s much bigger if they’re compared. ICOs have been under pressure lately, as dozens of subpoenas have been issued by the US SEC (Securities and Exchange Commission).

The Bitter Example Of Amazon

Morehead further elaborated his point by presenting the example of Amazon. If someone remembers, Amazon was a major investor behind Pets.com. Although the company was filed for bankruptcy, Amazon CEO Jeff Bezos still managed to earn an intense amount of wealth due to his innovative set of strategies.

According to Morehead this was only because Bezos’ investment strategy was to put his money in more than one companies, and he did so to make sure that he had exposure to the ultimate winners.

After the bankruptcy of Pets.com, Amazon’s shares came down to 4,000 percent which still is a handsome amount and that’s why Bezos is one of the richest people on earth as he’s still worth over 130 billion dollars.

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Bitcoin Cash Payments Allowed for BitPay Merchants

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According to some experts and critics Bitcoin Cash may be considered as the best future money. To support this statement we have a news, in addition to Bitcoin, BitPay merchants have been allowed to accept a second cryptocurrency — and it is no other than the Bitcoin Cash. Bitpay has made an announcement on its official website that it’s now more easy for BitPay customers to become a part of the energetic community of Bitcoin Cash. A Bitpay merchant who accepts bitcoin cash can now consider himself a part of that community.

bitcoin payments

How it all started?

BitPay became active in 2011, while Bitcoin was still at its initial stage. No doubt Bitpay played a vital role in the transformation of the financial industry as a whole. It introduced the concept of faster and secure blockchain payments which were relatively less expensive globally.

The main purpose of founding BitPay was to make it easier for various businesses to deal in bitcoin payments. At the moment it is continuously expanding its network which has already become the largest bitcoin payment processing network in the world. Bitpay is currently providing its services to industry-leading merchants over six continents. It has generated a foolproof secure bitcoin payment plan which is used by thousands of bitcoin users on daily basis.

Bitcoin Cash – an Innovative step by BitPay

As mentioned above, BitPay merchants can now accept payments in Bitcoin Cash. No doubt it is an innovative step in case of Bitcoin Cash which has already been considered as the best future money. Bitcoin Cash will provide a rich opportunity to the BitPay merchants to receive payments from customers around the world. Due to the trust provided by the blockchain technology, there will be no risk of credit card frauds or chargebacks. the company said in a statement. It will also be more convenient in case of cheap transactions as the Bitcoin Cash costs only pennies or even less in some cases.

Future plans concerning Bitcoin Cash

BitPay is also planning to integrate Bitcoin Cash in order to save massive transaction fees in terms of batch payments. According to a company statement it also has the intentions to enable Bitcoin Cash settlements. With the help of these settlements merchants would be able to receive their payments in the form of cryptocurrency, no matter what kind of BitPay payment option they had been using already.

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Bitcoin Transaction Stuck? Don’t Panic! Here’s what you need to do

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Bitcoin Transaction Stuck

 

The number of transactions on the Bitcoin network has rapidly increased over the past couple of years. With more blocks filling up, all the transactions cannot be included in the blockchain at once.

Transactions that pay the highest fees are usually included in the blocks first and transactions with comparatively lower fees are made to wait until they find a new block. These transactions remain in the mempool of miners until their turn is up.

This gets the user quite irritated as some low fees transactions may take around days or weeks to confirm. But here’s what you can do if you happen to have your bitcoin transaction stuck.

Before You Send The Request:

Most wallets had a fixed fee of 0.1 mBTC during the early years of Bitcoin. Back then, miners had spare space in their blocks due to which they were able to accommodate more transactions in the first block itself that they mined.

Although, because of the increased competition for block space right now, the 0.1 milli bitcoin transaction fee is insufficient to have a transaction included in the next block. So, transactions with higher fees are taken up.

If you want to have your transaction confirmed faster, the obvious advice is to increase your amount. You may be able to adjust your fees manually when you send your transaction.

Also, check to see if your wallet includes dynamic fees.

Recently, most wallets are said to support dynamic fees. According to Bitcoin network, these wallets automatically include a fee that is estimated to have a transaction included in the next block or maybe in the upcoming blocks.

Several wallets let you decide your fee priority, again, a higher fee lets your transaction confirm faster.

After You’ve Sent it:

After you’ve sent your transaction and it happens to be stuck, that transaction can be made to skip the queue. This can be made possible using an option called Opt-In Reference-by-Fee (Opt-In RBF). Using this method, you can re-send the same transaction, but with a higher fee. Usually, when you re-send the same transaction, Bitcoin nodes detect this new transaction a double spend and therefore reject it. Although, by sending it using Opt-In RBF, you are explaining to the network that you may re-send that same transaction later on but with a higher fee. As a result, most Bitcoin nodes now accept the new transaction; allowing the new transaction to jump or skip the queue.

But, do remember, not all miners support Opt-In RBF, so your new transaction does depend on the hands of the new miner that mines that next block.

Electrum and GreenAddress are two wallets currently supporting the Opt-In RBF option. You will need to enable Opt-In RBF in the settings menu of your wallet, before proceeding any further with the transaction.

If Opt-In RBF doesn’t do the trick, then another solution would be Child Pay for Parent, CPFP. By applying this method, miners don’t pick a transaction with a high fee, but a set of transactions that include most combined fees.

As a Receiver:

Lastly, a Bitcoin transaction can also get stuck on the receiving end of it. If your wallet allows you to spend Bitcoin unconfirmed transactions, this can be solved with CPFP as well. If the new fee is sufficient, the transaction is supposed to complete within a couple of blocks.

 

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Everything about blockchain

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Late 19th century, a majority of the people did not use the internet. Whereas, next 20th century comes with new technologies, innovations. Which totally change the nature of the environment. As barter system introduce the transactions process. Afterward, leather money uses for transactions, which later turn to metal, then gold asserts itself in trading. In addition, with the passage of time transaction process introduce paper money.

Finally, technology introduces the digital money for the transaction in all over the world. Which is most flexible and convenient. while, In the general discussion of the technology, blockchain is at the top of the list. Now, the question is, what is blockchain? how does it work? And many more discussion will be available in this article.

What is blockchain?

The blockchain is a technology to verify and record the digital made transactions. It is directly underlying technology to the bitcoin. This technology has the ability to transfer, inform and secure the money. Basically, it is a term which describes the distributed network database technology underwrite once and read the only system. Here, we can observe the one thing,

Bitcoin = blockchain

Ethereum = blockchain

Other crypto-currencies = blockchain

Smart contrast = blockchain

Distributed ledger technology = blockchain

 

Everything about blockchain

 

Blockchain technology has the four major components. Are given below;

  • Privacy: System provides the complete security to its followers regarding their transactions and its recordings.
  • Smart contracts: This system is enabled to add in and being able to execute on individual chain codes.
  • Establish consensus: If you have a strong distributed ledger then participants and a network will agree to the transactions happen. Which need to be a means of establishing consensus between two or more parties.
  • Control: A database which easily shares by different organizations. Whereas, no one authority has full control over it. Which differentiate it from other traditional database platforms. Where multiple people are using this database, there is always one party to write read and connect it to others.

 

Why blockchain seeks the other’s attentions???

People who don’t like traditional transactions system and bored up because of a time-taking process of payments. Accordingly, interested to adopt a new, secure and fast system of transactions. They tend toward the blockchain technology.

Founder and CEO of multichain Dr. Gideon Greenspan say, “People are interested in Bitcoin because of, first of all, it’s technologically interesting. It’s a combination of ideas that’s may have been used before but the way they’re put together and the end result is smart and unique. The second reason is because it enables censorship free digital finance: That is a goal that has never been achieved before. The idea that you can transact digitally with who you want, without there being any central place that can be pressured or switched off is new. The third is the endless speculation in the price, as it goes up and down. It’s an endless story in itself which keeps people interested”. In addition, “People are interested in private and permission blockchain because they offer the possibility of making certain types of IT systems more efficient. This effects IT systems of multiple organizations where companies need to communicate with each other.

Distributed ledger

Basically, it is a recode of what you have. As blockchain is completely different from traditional database technology. in addition, with no central storage and no central administrator of a ledger.

Accordingly, it is an asset and can share across the world. However, this technology id so-called blockchain. people create it and tend to digital cash of the bitcoin. Bitcoin and other cryptocurrencies are accumulating in blocks. And, then by using the cryptographic signature, the blocks are add to the chain.

Benefits of blockchain

  • Secure way of transactions and crystal clear process.
  • Miners authorize the transactions. Transactions become immutable and secure from hacking.
  • blockchain technology minimizes the existence of the third party in transactions.
  • decentralization of the technology.

Whereas, Banks and other organizations are going to invest in this space. Following are some banks and other FIs on the blockchain.

 

Everything about blockchain

In addition, some of the use cases and non-financial use cases of blockchain are as follows,

Use cases

Everything about blockchain

Non-financial use cases

Everything about blockchain

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