Bitcoin has started the month by hitting an all-time high of $1500, with maintaining its peak at $1441.39 in the month of April. The announcement of Japan officially recognizing Bitcoin as a legal payment method and that Russia’s lawmakers plan to release their ban off Bitcoin, has been extremely beneficial to Bitcoin’s new climb.
However, it’s opposing Altcoins are having their share of the spotlight as well.
Ethereum’s Ether is the second largest digital currency. It recently crossed its $15 mark and has reached its new target of $80. This has created a buzz in the cryptocurrency world and merchants might even adopt this currency side by side. Further testing and improvements, to the Ethereum’s blockchain, are said to be taking place in the future. All in all, this might give the currency an even bigger boost in the coming weeks.
The Ripple network is being embraced by a large number of financial institutions to process domestic and cross-border payments. This has caused a sharp increase in the digital currency. It had an impressive jump from $0.0054 on March 1 to $0.054 on May 1.
Litecoin was created to be the “silver” to bitcoin’s “gold”. It’s been having an impressive rally, ever since the talk of “SegWit Implementation” has begun. The price of Litecoin has jolted from $6.74, to surpass the $15 mark on April 25.
Today, as we watch bitcoin alternative becoming increasingly popular, the amount of in-flight trade in goods using Bitcoin means that the value must increase in order to cover the value of the goods. As there is a limited supply of Bitcoin and the supply will only increase slowly over time to a maximum of 21 million, the increase in trade volumes will result in an increase in Bitcoin value.
While Altcoins are drawing a lot of attention towards themselves, let’s not forget that they are also riskier investments than bitcoin, because after all, they are untested and relatively unstable. Also, their prices can drop faster than they rose.
This is something to keep in mind when making your next altcoin currency in the current market state.
Tags: Largest digital currencies
Winklevoss twins, the most renowned bitcoin millionaires, still believe that Bitcoin is one of the finest investment opportunities out there and that they won’t sell bitcoin if its value goes over $300k.
Won’t Even Sell At $8 Trillion Market Cap:
In 2012, when Facebook opened up to the world, the Winklevoss twins got $45 million from a settlement with Facebook CEO Mark Zuckerberg. Despite their legal advisors’ proposal to take the settlement of $45 million, the Winklevoss twins received it in Facebook shares. By 2013, the Winklevoss twins amassed a fortune of $300 million, as the shares of Facebook soared.
After a fruitful exit from Facebook, the Winklevoss twins began to buy bitcoin at $10, amid a period in which just a handful of investors such as Roger Ver and Charlie Shrem had put resources into the crypto cash. Over the next couple of months, the Winklevoss twins obtained 120,000 bitcoins at an $11 million valuation.
Today, the 120,000 bitcoins acquired by the Winklevoss twins are worth $1.68 billion, and the Twins have gotten a benefit of ~$1.7 billion within merely four years.
The Winklevoss twins have emphasized that they won’t sell bitcoin even if its market cap surpasses that of gold at $8 trillion or when its price surpasses $380,000. Tyler Winklevoss believes that bitcoin is superior to gold since it is programmable as cash and has many advantages over traditional assets such as transportability, fungibility, divisibility, and security.
“In a funny way, we’re not sure if we’d sell it even at $380,000. Bitcoin is better than gold. It’s a programmable cash and may continue to innovate.” Said Tyler Winklevoss in an interview with New York Times.
More importantly, Tyler included that the Winklevoss twins are not influenced by the high unpredictability and rapid value movements of bitcoin because they have faith in the long-term execution of the digital currency and the innovation behind bitcoin.
“We are extremely comfortable in high-risk conditions with absolutely no assurance of success. I don’t mean existing in that condition for days, weeks or months. I mean a seemingly endless amount of time.”
Story Credits: ccn.com
Image: Google images
Sometimes you have to face different issues with your funds. They may be snatched or hacked by someone. Whereas, bitcoin is a digital currency and addresses may be hacked by someone. To prevent from hacker, bitcoin must be kept behind multiple layers of security. In this article, we will discuss the ideas, how you can prevent your accounts as well as your addresses.
The most important feature of the bitcoin is transactions aren’t reversible. This means that once you do transactions either receive or send coins, they don’t have revers back feature. But, if your bitcoin account gets hacked then also you are not able to get back them.
Make sure first while you are dealing with someone via bitcoin technology. That person should be reliable and well-reputed. These precautions are necessary, but this is incomplete security.
To secure your accounts some basic personal checks, which may reduce the chances of your account being hacked or compromised. They are;
- Secure your email account
- Secure your technology related social media accounts
- For all the online accounts, use unique and strong password
- Enabling two-factor authentication
The Main Issue:
Someone breaks into an unlocked house and take precious diamond jewelry away. This is not jeweler’s fault. You were not able to keep your things secure from a robber. Same with the email accounts. People says that their accounts got hacked. The reason is they don’t completely put security to their accounts.
If a hacker has access to your email account, he will see the history of websites you log in. In addition, will visit the sites one by one and ask to reset the new password. Once the password gets restart, you will easily cut off from your account.
Secure Your Email Accounts:
Following are some terms by which you can secure your account.
- use the strong and unique password
- keep eye on login activity
- review and remove email auto forwarder
- the review linked accounts
- 2-factor authentication
Use Strong And Unique Password:
Now, its technology era and you have to follow its rules and regulations. When you make an account on social media you have to use unique and strong password consisting of letters, words or capitals. In addition, especially in a case of bitcoin. You have to make sure that your password is strong, tricky and unique.
Keep Eye On Login Activity:
well-reputed email provider websites allow you to see which locations and devices recently accessed your email account. If your email account is open on both laptop and mobile, sites will show you double login sessions. And, you don’t recognize your login session, immediately sign out of all other sessions.
Review And Remove Email Auto Forwarder:
Most of the email sites provide a feature where email can be forward to different addresses automatically. If you monthly received the invoice from telephone company then your spouse or housemate will receive the copy of the same email. Which is more secure for your email accounts.
Here, the issue is, if the hacker got access to your accounts in past. Possibly they have auto-forward setup. Accordingly, the one for sensitive emails to be forwarded to them. These saved emails can be used against you.
Review Linked Accounts:
Review links accounts may be used for good and bad both purposes. We humans like new changes in our routine life. The problem is when we don’t want to log-in and after switching to new one, emails still send to the old addresses.
In that sense, you simply link to two accounts. And, you also have the accesses to both accounts, you can log into the new one, link the old one and all emails sent to the old account will still arrive in your new account. You can send email from a new account by using the other addresses. while you are doing small business it is useful for you. Where you can receive, and send the email to the same inbox. But, the problem is still the same. If your account gets hacked and hacker receives and send the emails same as you. In that scenario, you don’t have another option. So, keep your accounts secure by adopting different ways of security.
Two factors authentication needs two things to get access to your email account.
- your password
- your mobile phone
If two-factor authentications are enabled, no one can get access to your email account.
Secure Your Technology Related Social Media Accounts:
People are friendly with the social media they do the same with email accounts. They won’t need a new password or new email account.
For all the online accounts, use unique and strong password
your password should be strong and unique. The reason behind is,
Why Should Password Be Strong And Unique?
we already discuss that password of your accounts should be strong. It is simple, that your login different accounts with same and simple password. You are leaving your account open to hacking.
Especially, when you are treating with bitcoin wallet addresses. you need more security for your funds. Hundreds of time we log in with hundreds of the sites. Which may have an option of encrypting. So, it’s totally up to you to choose a suitable and reliable site for your transactions.
It very simple for the hackers to hack bitcoin wallet. So, use password management tool for a strong and unique password. It will help you surely.
Enabling Two-Factor Authentication:
One of the best and free ways to secure your accounts is two-factor authentication with the time period of two minutes only. 2F-authentication create an extra layer to any account by requiring two things. Are, • something you know which is your password. And,
- something you have is your device
Now, many sites support two-factor authentications including google, Luno, and Facebook etc. It is possible that you already receive a message with the one-time pin for certain transactions from your bank or credit card provider. These are the type of 2F authentication.
How To Enable 2FA?
Download and install 2FA app:
You need to install well reputed and reliable 2FA app on your device. Like, freeOTP, authy, google authenticator, And, set it up on supported sites.
Set up 2FA on your online account:
There is a large number of sites who support 2FA authentication. For setting up, please contact the supporting sites. For example, I am giving you the example of Luno. Below is some instruction for Luno,
You have to,
- Add a new account
- Scan QR code as shown by site
- Save that account
Luno will send you six-digit code,
- Store this code and store it in safe place
- Type it into your 2FA app
- Click enable
Above code changes in every 20-30 seconds. Your device and Luno now connected. As a result, if someone wants to get access your account, he/she have to get Luno password first.
There are too many ways to secure your bitcoin account from hacking. In the end, a decision is yours.
Everyone has turned skeptical on how to scale the bitcoin cryptocurrency since the chances of a “hard fork” have arisen within the market.
Bitcoin seems to be in a crisis and everyone in their community is suffering along with it.
Stakeholders and developers stuck in a heated argument over “hard fork”
What is the issue?
Basically, Bitcoin is so well-known that it isn’t able to handle the weight of all the transactions. Transactions are processed in “blocks” that include complicated cryptography to verify and set. But, with the currency growing exponentially and the number of transactions increasing, the 1MB size limit of the block that is built into the system is becoming an issue, causing delays in processing transactions. Thus, purchases would take a long time to confirm.
The time taken for a virtual currency bitcoin transaction has been gradually increasing. The median currently sits at 13 minutes.
What are the alternatives?
The split is leading to two possible solutions: “Bitcoin Unlimited” and “Segregated Witness”. They obviously can’t exist together, they’re software updates to the bitcoin network that would change how it works. This “hard fork” would split the chain of transactions in two, producing another chain splitting from the original one.
BU vs SegWit
Starting off with Bitcoin Unlimited, you must understand the concept of bitcoin mining. Miners sift through and verify transactions using computers in order to get rewarded with newly issued bitcoins. Professional miners with computers having specialized hardware do the majority of the mining by performing mathematical tasks.
Miners are in favor of BU because it would give them control over the Bitcoin network.They would be able to increase the block size when required and effectively give them control to set the transaction fees.
On the other hand, to keep the cryptocurrency more decentralized rather than giving additional work to miners, bitcoin developers, and enthusiasts are in favor of SegWit.
SegWit would double the transactions per second capacity of bitcoin by juggling the makeup of transactions, stripping out some details such as signatures. It would also add some extra functionality, including possibly moving some transactions off-chain in a way that might not benefit the miners. This solution would keep control over the network dispersed (decentralized).
Although, SegWit is just a temporary solution. It only doubles the network’s bandwidth, while BU allows miners to vote to increase the capacity when required with no upper limit.
Who’s the winner?
It is possible that bitcoin value will fork and then the two opposing currency will co-exist and compete for users and legitimacy. It is up to the users to choose sides and it isn’t simple to predict the future of the BTC world.
What does this mean for the value of bitcoin?
Bitcoin is hitting high records currently and if the fork conflict’s solved in a timely and satisfactory manner, it would make the market even more powerful.
In late June 2017, Antshares declared that they were rebranding. and less than a month later, NEO was born and turned into China’s most popular cypto overnight. The rebranding totally redesigned Antshares’ social media, technical data, website, and blockchain nodes.
Bitcoin vs other cryptocurrencies:
Then after a couple months later, Antshares – now named NEO – outperformed Litecoin, Bitcoin Cash, and Ripple, growing over 3,053% every month. As of August 19 – NEO went back to the ninth place on the digital currency charts, losing 90% of its expansion. However, the NEO devotees trust this is just the start for what is termed as “Chinese Ethereum,” some are stating that by the end of September, NEO will become number one on the crypto charts.
At the time of writing, Neo was trading at $42.92 per coin.
Proof Of Work:
NEO showcases more POW (Proof-Of-Work) than any other crypto out there. The effortlessness, the 15-second exchange time and the simple to utilize Smart Contract has aided NEO to detonate in China. There are more than 50 renowned organizations that are intending to embrace NEO’s innovation in China. Compared to Ethereum, NEO has accomplished more in terms of a “Quick Witted Economy.”
While NEO is principally cruising in China cryptocurrency, the friendly developer software can make it immense in the west too. Ethereum – while having an elegantly composed code – doesn’t have as much POW as NEO.
What Is Neo Transaction Time?
NEO can deal with numerous transactions through its Smart Contracts. It’s 15 seconds quicker than Bitcoin and 5 seconds speedier than Litecoin. While NEO doesn’t have the standard reputation like Bitcoin or Litecoin, NEO’s reputation in China Bitcoin keeps on developing. It’s being known as the “Smart Startup Trent,” in China, since, the local startups are embracing NEO at a snappy rate.
Additionally, it has front end uses like Digital wallets, voting, forums, and profile management. The organizer of NEO – Da Hong Fei – calls it the ultimate “developer coin.”
NEO Coin In Next 10 Years:
Up until now, Da Hong Fei has unveiled different plans for what’s to come. Da Hong Fei is anticipating on implementing the Catalyst Award Framework to reward miners for mining NEO. Likewise, he plans on creating an environment that will be crowd funding friendly within the NEO community. Investing in NEO, however, has its own risks, similar to any other cryptocurrency out there isn’t any organization managing it to guarantee you a safe investment.
Make sure you have done your research before putting your resources into the currency.