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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

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Buy Apartments in Turkey Using Bitcoin

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If you’re looking for a new luxury apartment, you might be surprised to know that now you can actually purchase one with bitcoins.

Recently, Dubai had announced an apartment project where Bitcoin owners can purchase these chic apartments.

Well, Turkey isn’t far behind as the owner of the MiaVita Beytepe project in Ankara, Turkey just announced that their very own luxury apartments are available for purchase using the digital currency.

Erdal Daldaban, the project manager firm owner, had enthusiastically said:

“We decided to make sales via Bitcoin, which has recently attracted the attention of Turkish investors with its recent value route, considering that we could also attract the attention of our customers who appreciate their investments like this.”

Why Bitcoin?

Daldaban says this is the reasonable next step:

“Bitcoin and digital money has become an element that can no longer be ignored by the global economy.”

This is mainly because of its current value in the market and the increase in its adoption around the world.

During last week, a home in Austin, Texas was bought using bitcoin news and a house in London was put up for sale on a minimum price of 500 bitcoins.

 

News Credits: steemit.com

Image Credits: fox40

Tags: Bitcoin Turkey, Bitcoin trading

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Will The Violent Closing of Crypto Hedge Funds Also Persist In 2019?

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According to some financial observers the future of cryptocurrency hedge fund could face a harsh and violent transformation during 2018. It has also been predicted that 10 percent of these hedge funds could shutdown during the next few months. Even Bloomberg reported recently that the continuous decrease in the prices of cryptocurrency assets have played a critical role in the slowdown of hedge funds. This prediction seems to be true as far as the ratio of crypto hedge funds opening is concerned which decreased continuously during the current year as compared to their launch rate in 2017 which was over 170. The situation has totally changed now as during the first three months of 2018 only 20 new players showed their existence on the scenario and shutting down of previous funds also continues.

cryptocurrency hedge fund

Reasons For This Downfall

According to latest hedge fund news the main reason for all this downfall can be the significant reduction in price of cryptocurrency this year, this decrease in price of automatically affected the relative hedge funds resulting in losses and closings of their doors for 2018. The ultimate decrease in price of Bitcoin and other cryptocurrencies has not been good for the health of hedge fund business. Regulatory uncertainty has also played its role in all this scenario.

 

Alpha Protocol is one of the recently closed funds which directly cited “potential regulatory and market risks” as main reasons for its decision to refund deposits. A statement was issued by its co-founder that new capital rate had slowed down and it was getting difficult to survive even for a high profile fund like Alpha Protocol.

Which Crypto Funds Were Affected Most?

Among those companies which had to freeze their operations, Crowd Crypto Fund and Alpha Protocol are on the top of the list. It has been reported that a total of 9 hedge funds revolving around cryptocurrency were shut down since December 2017. In addition to the shutdown of various funds, some of the investors have reverted to their previous investment plans which proved to be more secure than the crypto based hedge funds.

 

Alongwith unsure market health, regulatory uncertainty was also responsible for this downfall. Rumours have been circulating that the US Securities and Exchange Commission is fully prepared to check approximately 100 hedge funds in the near future while there are still more than 200 active hedge funds in operation.

 

Whatever the reason may be, all that discussion means that the cryptocurrency hedge fund business must evolve itself in order to compete with the regulatory uncertainty lying ahead.

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Bitcoin News 2017 – Digital Currencies Need Regulation

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Digital Currencies Need Regulation:

Digital currencies need regulation, without regulation, there might be a wild swing in the prices of digital currencies. The chief of BTCC says Chinese regulator isn’t cracking down on Bitcoin.

The head of a leading Chinese Bitcoin Exchange warned on Tuesday that Digital currencies should be regulated otherwise they have the risk to go out of control if more individuals invest in these digital assets.

Bitcoin and Ethereum are two most popular digital currencies. They have seen a rapid price swing in recent months.  In May, 19% price fall for Bitcoin noted nearly $4 billion in the value wiped off.  Last month, the Ethereum price crashed as down as 10 cents from about $319 on the GDAX digital currency exchange. Because there is a bullishness in the market, as some predict that the price of Bitcoin to climb as high as $100,000 in a decade.

Bobby Lee, the CEO of Bitcoin exchange “BTCC”, he told to CNBC’s that “I think regulation for digital currencies is much needed because it will run amok from the society”.

He also said in Hong Kong that the major challenge is how to craft the rules and regulation around this new technology. He added I think it is taking the regulators and lawmakers some time to come up with the suitable rules and regulations to govern companies.

Efforts of People’s Bank of China:

Regulators are discovering ways to regulate the digital currencies.  People’s Bank of China stepped up some efforts to regulate the market earlier this year. The bank set up a task force to conduct an inspection and ensure Bitcoin exchanges had realized anti-money laundering systems, and they also warned many exchanges against violating rules.

Image Credits: CoinTelegraph

Some noticed the moves from PBOC as a try to crack down on Bitcoin but Bobby Lee disagreed. He said it is not really a crackdown. Lee added, previously the Central Bank was not well aware of the details of Bitcoin usage and trading.

He described that the upsurge in the price of Bitcoin coincided with the huge capital outflows from the China and exchange rate changes for the renminbi against the dollar.

Lee said Central banks should admit the fact that Bitcoin is the new currency that is actively operating in China and around the world.  It is a new thing that the Central bank must pay attention and figure out what the regulation should be.

Story Credits: cnbc.com

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Buying Bitcoins with PayPal through VirWox

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PayPal is one of the most well-known services of online transactions. It makes online, fiat transactions fast and easy while on the other hand, Bitcoin is both a currency and a payment system that operates independently. Due to the speed, security, and convenience of Bitcoin, the demand for the digital currency has increased dramatically.

Although, one question that strikes everyone is whether you can buy Bitcoin with PayPal? Well, yes and here’s how.

Buying Bitcoins with PayPal

VirWox! Buy Bitcoin Through VirWox!

People claim that buying Bitcoins with PayPal is difficult, mostly because bitcoin traders expect this system to be dangerous and risky, with a high chance of having their money stolen, and may refrain from purchasing Bitcoins through PayPal.

There are two methods that allow one to buy Bitcoins with PayPal: VirWox or credit cards.

VirWox charges commission fees, but buying bitcoins with PayPal through VirWox is much easier than using a credit card.

How to Buy Bitcoins with PayPal by Using VirWox

Step 1:  Go to the website of VirWox and register for an account.

VirWox is an exchange of virtual currency, you can buy Bitcoins, Lindens and much more.buy bitcoins with PayPal through VirWox

 

Step 2: Click on the deposit button on the sidebar

buy bitcoins with PayPal through VirWox

 

Step 3: Choose how you want to deposit your funds.

You can use PayPal or credit cards using Skrill payment. Note that you can only deposit limited amounts of money every 24 hours. Your 24 hours limit will be increased as you complete successful transactions.

buy bitcoins with PayPal through VirWox

 

Step 4: Convert your USD to SLL. Click on “place an order”

buy bitcoins with PayPal through VirWox

 

Step 5: Decide how many USD you want to convert to SLL and click “Next”.

buy bitcoins with PayPal through VirWox

 

Step 6: Confirm your order and convert your SLL to Bitcoins.

Just click on the “BTC/SLL” button on the sidebar.

buy bitcoins with PayPal through VirWox

 

Step 7: Enter the number of bitcoins you want to buy using SLL.

buy bitcoins with PayPal through VirWox

 

Step 8: You will now be able to withdraw your bitcoins and send them to your wallet. Click the “Withdraw” button.

buy bitcoins with PayPal through VirWox

 

Step 9: Enter the number of bitcoins you wish to withdraw, then enter your Bitcoin address wallet and click the “Request Withdraw” button.

buy bitcoins with PayPal through VirWox

Note: On your first transaction, there may be a 48-hour delay until your bitcoins are sent to your wallet. Although, after your first, the rest will be instant and can be traced in the blockchain.

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