- This topic has 84 replies, 4 voices, and was last updated 1 month, 3 weeks ago by Anonymous.
March 5, 2019 at 8:25 am #18074AnonymousInactive
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March 9, 2019 at 3:12 am #18206AnonymousInactive
Today we have gathered 5 unsophisticated pieces of advice which will help you manage your money more effectively and won’t need lots of effort, focus or time.
1. Set up specific goals
Financial experts insist that making a list of specific actions that you want to do can be very useful. Avoid blurry descriptions such as “save up more” to receive a more exact plan how to “work” with money. Moreover, to not overload yourself and your budget, set only 3 goals you feel more certain that you can reach. For example, “purchase of a laptop”, “purchase of a car”, “marketing courses”.
2. Make an emergency fund
No, it’s not about your saving ups, it is rather a fund for unexpected costs in case of emergency. Everybody can find themselves in trouble, that’s why it is better to be prepared in advance. When force major strikes, you won’t need to “pinch” from your savings or lend money from all your friends. By the way, hide your emergency fund as far as possible and don’t check it without the necessity.
3. Spend money only on things that help you grow
The only way to achieve this goal is to assess your current expenses. You cannot go forward not knowing what was your starting point, can you? So, learn your expense items for the year and make a conclusion which habits or things you should exclude and on which you can spend more. Set it as your rule: only spend your money on things that bring you visible and tangible benefit.
4. Set up a day without expenses
Financial advisers suggest setting up a day when you won’t have any expenses at all – and that is a very good decision which will make you more focused and attentive to your own finances. This goal is specifically useful for the young people who often do not account for their money and recklessly spend it on entertainment and fun with their friends. Who knows, maybe in future you will learn how to have even two days a week without expenses!
5. Repay your debts immediately
Make it as your goal to firstly repay all the debts: to people, banks or credit offices. Of course, you should try not to borrow money at all, but if you have done so, make it your priority to repay debts and not spending on yourself. In other words, adopt the philosophy of quick repaying rather than yielding to your whims. It is not easy, but this will make you a more organized and task-oriented person.
We hope that our advice will help you save up your money so you could grow it buying actives you are interested in with the help of our service.
March 14, 2019 at 9:18 am #18339AnonymousInactive
Today we have decided to have a small crash course for those who are new at the market of cryptocurrencies. And we’re going to start from the very basics.
The most important point that one has to understand, is that to keep cryptocurrency you have to have a wallet’s address and there are three ways how you can create one:
1. Use online wallets
2. Download a program to your PC
3. Buy a hardware wallet
We will quickly go through pros and cons of each way. But let’s start by telling a few words about what a wallet for cryptocurrencies is using bitcoin as a sample. Bitcoin, as any other cryptocurrency, is kept only in a form of a blockchain. Anybody can view a transaction in the net, check the balance of any wallet. This information is open for everyone. But it is impossible to tell who the owner of the wallet is.
Bitcoin wallet has two parts:
• Open key. It is the address of the bitcoin wallet, it is not a secret. It has 32-34 symbols of Latin letters and numbers. All addresses always start with the number “1” or “3”.
• Private key (sometimes called as a secret key). It is a longer sequence of letters and numbers of the Latin alphabet. You mustn’t tell it to anyone, because it is an access to the wallet.
Transaction in bitcoin network means that cryptocoins go from one wallet’s address to another. The speed of transaction is equal to emerging of a new block in blockchain (10 minutes on average).
Transaction is subject to a small fee. Depending on the network loading, its amount can change. The sender specifies its amount. By the way, commission does not depend on the amount of transaction. You can transfer amount equaling to $10, $10000 or $1 billion and still pay the same commission.
1. Online wallets
There are lots of sites which offer services for creation and keeping online-wallets. They are called “cryptowallets”. The service takes on all the issues of keeping funds safe. There are pros in that, since you don’t need to think about computer safety, plus reliability of the service is usually much better that that of a simple computer. We would like to personally recommend the service blockchain.com
2. Program on your PC
You can download programs for bitcoin wallet on the official website bitcoin.org. Here you can choose from lots of wallets supported by community: Bitcoin Core, MultiBit, Armory and Electrum. Also, you can learn the features of each of them. They slightly differ from each other. For example, Electrum does not keep all the history of transactions (blockchain) on computer, but it refers to randomly selected network nodes. Bitcoin Core, on the opposite, keeps the full history on your PC and computer must always be online for checking if the data is accurate. Today the blockchain size for bitcoin is about 200 Gigabytes. Many people recommend taking the security of a computer with bitcoin-wallet seriously. This is because in case fraudsters steal the wallet file, all your funds there will disappear. As nobody wants this to happen, you need to follow the basic rules of computer usage safety.
3. Hardware wallets
Hardware wallets are a device that keeps the private key. Their advantage is that it is switched off the Internet and there is no way anybody can hack this wallet. If the device breaks or you lose access to it, you can restore it by entering 24 random words (so-called seed words).
And you can always find favorable rates for purchasing cryptocurrency on our site BestChange. com
We wish you reliable and profitable exchanges!
March 23, 2019 at 7:57 am #18605AnonymousInactive
Following the summary of the book we have shared this week, we would like to extend the topic and tell you about seven mistakes people make when writing to-do lists and several ways of avoiding such mistakes.
1.Too voluminous lists
We plan to do dozens of things during the day, but all our tasks vary in their urgency, length and time required for their completion. Long lists demotivate, because it is impossible to do every task in them.
Instead, specify 3 most important tasks which will benefit you the most in your carrier, business or you personally, and write them down in order of their importance on a small piece of paper to keep in front of your eyes during the day.
2.Ambiguity and uncertainty
Very often we formulate our goals too vaguely, not setting forth the specific steps we need to take to achieve the result. Instead of writing down: “Work on the presentation”, specify what exactly you are planning to do: “Make a draft of the presentation”, “Define 3 key points of the presentation” and so on.
It is important to understand:
– what the final result would be;
– if it is possible to finish the task in one go;
– what the deadline of the task is.
3.Poor time management
It’s hard to be effective if you don’t know how many hours or days it will require you to complete this or that task. Before getting down to work, estimate how much time you would approximately spend on this task. Even if you make mistakes in your estimations at first, they will help you to better manage your time in the future.
4.Falling for distractions
There are days when lots of unplanned tasks emerge and unforeseen situations take place. That’s why it is important not only to structure your schedule, but also be flexible. Every morning take a look in your calendar to check what you have planned for today and the next few days. During the day allow at least one hour to be spent on solving unplanned situations. This amount of free time will let you considerably decrease the level of everyday stress.
5.Focusing on tasks which are in fact not so important
There is always a temptation to fill your list with tasks which only seem urgent and important but actually do not play a big role in the long run. To achieve results, you need to see the whole picture and write down tasks with real deadlines (for example, important meetings) and those that have the most influence on your goals (for instance, work on the coming presentation).
6.No connection between tasks and end goals
Motivation depends on how the task is important for you personally. In these cases, we don’t have to summon up our spirits, we get down to work happily. Before starting to write your to-do list of important tasks, think for a moment, why you include this or that point there. If it relates to your long-term goal, you will work on it with more enthusiasm.
7.Torturing yourself with thoughts on undone tasks
At the end of the day, the list of important tasks is not a question of life and death. That’s why don’t torture yourself and start each morning with working on three most important tasks for the day.
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As always, we are trying to be interesting and useful for you, that’s why your opinion matters. Please tell us, did you find this information interesting, would you like to read similar advice in the future?
April 5, 2019 at 9:37 am #18995AnonymousInactive
All of us heard many times that cryptocurrencies are only good for trading in the darknet and for laundering money. We sometimes even get requests from journalists to give comments on such questions about illegal deals with cryptocurrencies.
But let’s sort out, can bitcoin be really used for money laundering?
I think there is no need to explain what money laundering is about – it is done to give criminal money legal status and to “cover the tracks”.
Cryptocurrency sphere with its decentralization, anonymity and almost instant transactions may seem to have become the favorite place for all kinds of financial fraudsters. But there are a few problems with that.
1. Volatility of most cryptocurrencies Although for traders constant price surges serve as a great opportunity to profit, for people using digital currencies as a medium, a fall by 10-20 per cent can be a very serious risk.
2. Difficulty of converting cryptocurrencies into fiat currencies. More and more often the exchangers and exchange markets follow the principles of KYC, CFT and AML. Cryptocurrencies still have a half-legal status in most countries. If a considerable amount of money is transferred into cryptocurrencies, after all the stages of laundering, these cryptocurrencies will need to be transferred back into cash money. That’s how, ironically, half-legal status of cryptocurrencies protects them from criminal activity.
3. The majority of digital currencies are not at all anonymous. All transactions made in blockchain are reflected in a public ledger, where everybody can track from which account the transaction was made, how much money was transferred, and by which account it was received. No, these accounts are not connected to names and surnames, but these are easily trackable by IP. There is a limited number of currencies the main task of which is totally anonymity of transactions (Monero, Zcash, Verge and others). But the result of this anonymity is, as a rule, longer time of transaction and its higher price, and difficulty of conversion due to lower liquidity.
It cannot be absolutely excluded that bitcoin might be used in illegal deals, as any currency in the world, in cash or in a cashless way. But incredibly much more often it is the cash, in particular, dollars, which is used when financing terrorism of laundering money, but the very thought of banning cash sounds absurd.
Notwithstanding all the novelty that comes with cryptocurrencies, the most anonymous and safe way of transaction is giving money from hand to hand. That is why the majority of illegal deals are done with the use of cash. As before, using cash remains more anonymous and complicated for tracking than most of cryptocurrencies.
And what do you think? Do you believe that cryptocurrency is only good for illegal deals?
April 19, 2019 at 9:53 am #19387AnonymousInactive
What did people use for trading before money was invented? Find out how the first coins were created, why paper money was first introduced and all the discoveries and social changes that led to our current monetary system.
Before money people used bartered goods as payment; for example, animal hides and teeth. Livestock was the most valuable commodity. Shells were also used; snail shells were very popular in China. Other goods used for payment were tools, beads, salt, crops, weapons and tobacco.
The first standardized coins were created in what is now western Turkey by King Alyattes around 7th century B.C. They were made of electrum, a naturally occurring amalgam of gold and silver. In Rome, coins were minted near the temple of the goddess Juno Moneta, which gave us the words “mint” and “money”. Offa, an Anglo-Saxon king, introduced the first English coin known as the penny around 790 A.D. Because of a copper shortage, China introduced the world’s first paper money in the 9th century – 700 years before Europe did so. In the 1500s the St. Joachimsthal mine in what is now the Czech Republic introduced large silver coins called thaler. The Spanish version of the thaler became the first worldwide currency. The English called it the dollar, and the U.S. dollar was based on it.
Modern Money. The first U.S. government-backed paper bills were introduced during the Civil War. The term “greenback” comes from the intricate designs on these bills, meant to prevent counterfeiting. The largest bill in history was the 1946 Hungarian 100 million Pengo; the name was spelled out on the bills since so many zeroes couldn’t fit on the banknote, but it was only worth $0.25! The $100,000 1934 Gold Certificate was the largest bill ever made in the U.S. It was used for Federal Reserve transactions and not released to the public. The largest coin ever minted was in Australia in 2011 weighs about a ton. A U.S. nickel weighs just 5 grams—roughly as much as a hummingbird. As of 2018, there are 180 different currencies used around the world.
Bitcoin, invented in 2009 by the pseudonymous Satoshi Nakamoto, became the gold standard–so to speak–for virtual currencies. Virtual currencies have no physical coinage. The appeal of virtual currency is it offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies.
Despite many advances, money still has a very real and permanent effect on how we do business today.
April 25, 2019 at 8:35 am #19531AnonymousInactive
Back in February, the Shift Card service, which used to issue debit Visa cards with a possibility of using cryptocurrencies, announced their closure.
But the service was succeeded by one of the largest cryptocurrency exchanges Coinbase. The representatives of the exchange announced launching debit Visa cards with a possibility of payment with cryptocurrencies from the exchange account of the user.
It is announced that Coinbase Card will support all cryptocurrencies available at the exchange, and the users will be able to spend them on any purchases, whether it would be food in supermarkets or public transport tickets. The conversion process will be automatic and instant at the moment when the user makes a transaction using the card.
The exchange’s clients will be able to choose the cryptocurrency they are planning to spend on purchasing goods with the help of a special mobile app. Moreover this app features an option of receiving a check, viewing transaction and purchases categories.
The British payment operator PaySafe will be issuing the cards. For the time being only the UK citizens can use the service, but in a few months Coinbases is going to implement their innovation in other European countries.
And what about you – would you like to have such a card? Is there a sense in such cards?
May 7, 2019 at 6:53 am #19927AnonymousInactive
Today we carry on with our crash course for beginners in the cryptocurrency market. We will tell about technology that underlies almost every cryptocurrency and about the features of this technology.
Blockchain technology differs from a traditional data base by the principle of organizing information. Classical data base is hosted on servers specially designed for it and these servers are controlled by organization that owns this data base. Blockchain is not controlled by a person or organization and its security is ensured by its distributed architecture.
Block technology allows different sides not having trust for each other to exchange data without the central server. Processing and storage of transactions is carried out by all users at once. After adding data to the network by one of the participants, all other nodes of the network are used to check and confirm the correctness of these changes. In a decentralized blockchain the information is stored on all computers of all users at once, and not on a single server, which protects the network from hacking and data spoofing.
The more network participants and nodes, the more data copies. To change data in this situation one need to hack every single node in the network and modify all data simultaneously. Every block in a chain has a certain block of data, and when this block gets filled, the data gets encrypted and written in the network forever. To change data in any transaction, hackers would need not only the current block, but also all the next ones which is not only practically impossible, but also too expensive.
Adding blocks is carried out using cryptographic methods of protection and this guarantees the reliability of data without a universal processing center. However, constantly growing size of the chain of blocks can make its storage and synchronizing more difficult.
If data that is relevant only for the current time, is recorded in the usual database, the blockchain stores operations for the entire history of its existence. The system is designed in such a way that all transactions remain unchanged – they cannot be deleted.
Given its characteristics, the blockchain technology offers the ability to create enterprises and carry out operations that are quite flexible and safe. Today, the blockchain is beginning to be actively introduced into banking systems, property registration systems and various state registries, supply chain management, and in such areas as digital identity, energy, voting, games, the Internet of things and other.
You can find a good exchange rate for buying any cryptocurrency on our website BestChange. com.
Would you like to know more about this technology? Maybe you’ve got some questions about blockchain? Please ask in the comments and we will find the answers together.
May 9, 2019 at 11:46 am #20032AnonymousInactive
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May 14, 2019 at 8:47 am #20200AnonymousInactive
From the date of its creation in 2009, Bitcoin is an open-source project. But despite all its openness, up to date no one knows, who is the person behind the creation of Bitcoin and who is Satoshi Nakamoto?
Let’s elaborate on what is known so far. The first step was taken in 2007 with the writing of Bitcoin code. In November 2008, a programmer, or a group of programmers, using the name of Satoshi Nakamoto published the whitepaper on the Cryptography Mailing list. It was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and paved the way for the Bitcoin protocol.
On January 3rd, 2009, the first Bitcoin block ever was mined. A few days later Nakamoto released the updated 0.1 version of Bitcoin software with some minor bug fixes.
In the beginning, a person calling himself Satoshi Nakamoto was heavily involved with the Bitcoin community and helped them modify the underlying bitcoin protocol on the website Bitcoin.org, he – or she – had created. Satoshi remained a mystery, as the person behind this name did not reveal any personal information during the entire time of cooperation with other developers. After two years of active collaboration, Nakamoto handed the reins to Gavin Andresen, and ceased any involvement with the Bitcoin project in December of 2010.
In April 2011, Nakamoto emailed a software developer that he had “moved on to other things,” and that Bitcoin was “in good hands with Gavin and everyone.” From then on nobody has heard anything from Bitcoin’s secretive creator.
The mystery behind Nakamoto’s identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 1975. To this day, it is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals. Satoshi is quite a common Japanese name, and Nakamoto, though not being a top popular surname, still isn’t rare.
But the fact that his Bitcoin documentation hasn’t been published in Japanese and his perfect knowledge of English, with a twang of British English, created some suspicions among other Bitcoiners.
Some community members analyzed Nakamoto’s activity on the bitcoin forum, and their findings reveal that the chart of timestamps would suggest an unusual sleeping pattern for Japan, but be more characteristic of that of in the UK, hence giving away possible location of the posts’ author. The media has also done its digging in looking for the person behind the name Nakaomto. But the candidates they have dug up have rejected any credit for the invention of Bitcoin so far.
One thing is clear, the key to his disappearance and secrecy is possibly his huge wealth. Imagine holding 7.5 per cent of the world’s bitcoin and not being able to spend any of it.
Spending this Bitcoin on an open and transparent blockchain would be akin to coming out. Not only would every government in the world know who you are but also some very unsavoury elements who could cause you real potential harm.
The mystery of the inventor of Bitcoins remains unsolved today, but his cause is continued by the many brilliant developers of the Bitcoin community.
As always, we at BestChange.com are trying to be interesting and useful for you, that is why your opinion matters. Please tell us if you find this information useful and what other topics would you like us to cover?
May 18, 2019 at 11:12 am #20318AnonymousInactive
During the weekend our Chief Analyst decided to calculate how much on average a person could have earned on bitcoin for the last 5,5 years.
Of course, the received data cannot be absolutely accurate — otherwise we would have needed to get an access to all transactions of exchanging, appearance and disappearance of all existing during this time exchanges and exchange offices, information about private exchangings.
Our method is based on comparison of all possible options of purchase and sell for the last 1963 days (during the period between 27/12/2013 and 12/05/2019). We took all 1’925’703 possible options of purchase and sell at the average price on this day and multiplied it on the probability of making a transaction on this or that day. We established probability based on trading volume in this pair of days as relating to all trading volume for 5,5 years. We did not take into account trading within the day and possible private exchange operations. All data is available publicly and can be viewed on the site coinmarketcap.com
According to our calculations, if the number of investors will tend to infinity, then on average all these investors that bought and sold bitcoin on random days for the past 5,5 years, have earned 180 per cent of their capital. It does not mean that you can earn the same in the future, or that the majority of investors have earned, and not lost, on bitcoin in the past. This is just an approximate number the investors could have earned on average during this time (somebody lost 80 per cent, when another earned 1000 per cent).
Currently bitcoin shows remarkable results again and has already overcome the $8000 mark. If you decide to buy bitcoin at the best rate, you can always find the most profitable option with the help of our monitoring BestChange.com.
Would you find interesting calculations for other cryptocurrencies? Maybe you have advice or wishes how to improve our method?
May 31, 2019 at 10:00 am #20765AnonymousInactive
Did you know that only one third of mined bitcoins participate in the turnover? The rest of bitcoins do not move among the wallets.
Of course, this can partially be blamed on hodlers, but it is highly likely that the access to inactive wallets was simply lost or the coins were forgotten by users.
The reason for that could be a loss or breaking of private key containers, impossibility to restore passwords from online-service or their closure, incompatibility of hierarchical generation of keys and lots of other options. If you have lost a password/key to your bitcoin wallet, you won’t be able to restore it, this is how the system works.
But what about the fact that every 10 minutes miners create more and more new bitcoins?
There is a limit after which the growth of the total amount of bitcoin in the network will stop, and this limit is 21 million of coins. Moreover, every 4 years the amount of new bitcoins is reduced two-fold.
For the 10 year and a half of bitcoin’s existence there has been generated around 17,7 million of bitcoins, which constitutes around 84 per cent of their total amount. If the access to two thirds of the coins has already been lost, then around 9 million of coins are left in the turnover, 3 million coins out of which do not yet exist.
Even if we do not take into account the possibility of losing an access to wallets in the future, it still turns out that we may face a shortage much larger, that it seems at first glance.
If bitcoin ceases to be a speculative asset and turns into one of the main reserve currencies of the world’s central banks, its total capitalization will be less correlated with the actual amount of available funds.
For instance, if now bitcoin would substitute the US dollar as the main reserve currency and its capitalization was at the level of the USA national debt, then the price of one bitcoin would be a little over $1 million. And if we take into account that the real volume of bitcoins available for turnover currently is about 6 million of coins, then bitcoin would have to have the price of $3,5 million to be compatible with US debt by capitalization.
And do you believe in the future of bitcoin? What price deems fair for the cryptocurrency number one?
If you trust in the future growth of Bitcoin or other cryptocurrencies, our monitoring BestChange.com is at your service: with our help you can easily find the best exchanging rates for any e-currency and have a safe transaction
June 8, 2019 at 6:10 am #21025AnonymousInactive
How Safe are Bitcoin Paper Wallets?
A bitcoin paper wallet is a public and private key printed on paper or a piece of plastic. It is an offline wallet and is referred to as a type of “cold storage”. This means that it is an extra-secure storage that is not connected to the Internet which can be hacked. Although its security can be debatable.
The piece of paper (or plastic) contains printed private and public keys, usually accompanied by QR code, which also serves as the address. You can simply copy and paste the keys onto a text document and print it out (making sure to delete the document from your PC). You can also use free online services that generate the printable wallet. The key generation is usually done in your browser, so they are not transmitted on the internet. But to be on the safe side, you are advised to clear your browser after printing. Keeping an image of the paper wallet on your computer or phone is a definite no-no.
Some paper wallet services offer a handy design that you can cut, fold and seal, making them a lightweight and relatively secure form of storing your bitcoins offline. You send your bitcoin to the public address displayed on the wallet, and then store the paper in a secure place.
The security of paper wallets stems from the fact that they are absolutely offline, and hackers cannot reach them. But, on the other hand, you need to keep this piece of paper secure to protect your funds.
There is a risk that somebody can find your printout and withdraw your funds without your knowledge. As an extra precaution measure you can fold the printout covering the private key and seal the fold with a tamper evident seal.
Also, you need to bear in mind the physical vulnerability of the material. To protect the paper wallet from water (for example, in case of flooding) you may want to keep the printout in a sealed plastic bag. But there does not seem to be a good protection against fire.
But these risks are not very likely, use common sense to keep your wallets safe the way you would jewels and ordinary cash. In general paper wallets are by far the safest option to store your digital assets.
Whatever your preferred method of storing e-currencies, you can always buy or sell your crypto money choosing the best rates at bestchange.com !
June 13, 2019 at 6:18 am #21161AnonymousInactive
Blockchain and bitcoin based on it, as any new revolutionary technology, have their drawbacks. The mechanism of ‘proof-of-work’ consensus uses enormous volumes of electricity, cryptocurrency is used for speculations and sometimes in illegal activities.
But to say that because of that the technology faces a failure, is the same as saying in 1995 that the Internet will not work because it’s clumsy and unorganized.
Bitcoin has been living for over 10 years now despite numerous predictions of its demise. And it is constantly developing. The first cryptocurrency is no longer a “toy for geeks” as it used to be in 2009. Today Blockstream satellites allow making bitcoin transactions even without Internet.
Blockstream company which deals with bitcoin blockchain pilot projects and New Zealand developer goTenna have united their efforts to improve the project that allows sending and receiving bitcoins without Internet with the help of data translation via satellites using radio frequencies which are supported by goTenna devices.
The users will be able to receive bitcoins via satellite and goTenna Mesh network without direct connection to the Internet. If you do not like the control of the local provider or your connection is down for some reason, for example, because of a natural disaster, you will still be able to make a transaction.
With all the innovative features, this technology is quite easy to use. With an electricity generator, satellite dish, Raspberry Pi, a Wi-Fi point and the necessary software you could make global bitcoin transactions.
At first sight, it sounds rather expensive. But if you divide the expenses among people, for instance, if the whole village chips in for the purchase of the equipment, the costs are not so high. To use this service, you need a small satellite dish that uses USB port to connect to PC or specialized equipment such as Raspberry Pi. To manage connection, you can use free software with open source code, for instance GNU Radio.
And the service itself has demonstrated “excellent” uptime and its network has excess capacity to ensure reliability.
And do you still think that bitcoin does not have any future and nobody uses it?
June 17, 2019 at 9:14 am #21285AnonymousInactive
Blockchain is not a financial pyramid.
To see this, one should understand what a financial pyramid (also called an investment pyramid) is. This is a system for receiving profit via constantly attracting money from new participants. That means the profit of the first participants is paid at the expense of funds of their followers.
It is obvious that if bitcoin does not have any dividend yield, that is, if you do not receive additional funds just because you own cryptocurrency, then bitcoin, as most of other significant cryptocurrencies, cannot be a financial pyramid by definition.
Then why such confusion? Most likely that the reason behind such a poor analogy was the poverty of intellect in most cryptocurrency critics after the events of 2017. They did not even try to learn about the principles and technologies behind cryptocurrencies but started without any reason calling them a financial pyramid. Partially they can be understood, because the previously unknown project that made it possible for people to increase their capital several times over a few months sounds very suspicious.
But what happened is that people earned profit due to the increase in the price of the active, and not because of the means of new users. Yes, to some extend it was the dramatic increase of popularity that brought about price increase, but these concepts should not be confused. Situations when demand starts to dramatically exceed supply are always accompanied by similar price increase. These can be company shares, investment fund units or even salt that can rise in price against the backdrop of false rumors. Price increase due to the growth of demand is a typical market situation, and not a disguised financial pyramid.
That being said, blockchain-based pyramids can sometimes be found, for instance, PonziCoin and Bitconnet. But these are particular cases of the misuse of the technology in creating a financial pyramid, and not vice versa.
It should be noted that there are financial pyramids that are disguised as cryptocurrency projects, only exacerbating the suspicion of inexperienced crowd. For example, they can promise profit thanks to a “unique trading robot” that multiplies your investments, or something of this kind. Of course, they have nothing to do with cryptocurrencies, and the illusion of work is maintained at expense of new client’s investments.
We hope that we have made our point clear. And what other unreasonable definitions of bitcoin have you come across? We would be happy to discuss it with you in our next articles.
June 20, 2019 at 9:25 am #21396AnonymousInactive
Cryptocurrencies were originally envisioned as a decentralized payment means, independent of fiat money rates and not tied to traditional valuable assets.
This peculiarity adds cryptocurrencies a characteristic feature — high volatility of the rate. Many folks gain thanks to this feature, but the possibility that the rate can dramatically drop or leap hinders the usage of cryptocurrency as a full-fledge payment means.
In order to regulate the rate, it was decided to tie up cryptocurrencies to stable assets that have long been established in the economy. Thus, they began to tie up the value of cryptocurrency to fiat money, gold and oil. Digital currencies can be tied up to any valuable asset or commodity which can make their value more stable.
Cryptocurrencies pegged to physical assets have a lower rate volatility and became known as stablecoins. Stablecoins are a compromise between fiat money and cryptocurrencies. Most often, the value of a stablecoin is pegged to fiat money. The value of these coins is equal to that of fiat currency and represents a sort of a promissory note. Every coin is leveraged to one unit of fiat money, for instance, dollar, which acts as a guarantee and provides for the value of the currency.
The most popular stablecoins are:
Tether (USDT) * USD Coin (USDC) * TrueUSD (TUSD) * Paxos Standard Token (PAX) * Dai (DAI)
And what stablecoins do you use?
June 25, 2019 at 9:22 am #21539AnonymousInactive
Did you know that in its modern form, credit card appeared back in 1949? Originally nobody took them seriously, but within the next few years they literally conquered the whole world.
The first universal credit card, which could be used at a variety of establishments, was introduced by the Diners’ Club, Inc., in 1950. Another major card of this type, known as a travel and entertainment card, was established by the American Express Company in 1958.
Today billions of people around the world use bank cards. The share of cashless payments is gradually growing, and they become a usual and more convenient method of payment.
According to statistics, for the year 2015, debit card usage accounted for 69.5 billion in payments, dwarfing all other forms of non-cash payments including credit cards (33.8 billion) and checks (17.3 billion). One new debit card is issued in the U.S. every five seconds. There were 471 million Visa debit cards in the U.S. and 1.09 billion in the rest of the world at the end of March 2015.
How many bank cards do you have? How often do you use cash?
July 2, 2019 at 3:45 am #23784AnonymousInactive
The Amsterdam Stock Exchange is considered the oldest in the world. It was established in 1602 by the Dutch East India Company, which issued the first shares on the Amsterdam Stock Exchange. It was the first company to issue stocks and bonds and the first to formally begin trading in securities.
In the 1600’s, the Dutch, French and British governments all gave charters to companies with East India in their names. At the peak of imperialism, it seemed like everyone had a share in the profits from the East Indian and Asian campaigns except the people living there. Sea trips that brought back commodities from the East were very risky – besides pirates, there were risks of weather and losing navigation.
To minimize the risk of a lost ship ruining their profits, ship owners had long been using the help of investors who would finance the trip – outfitting the ship and crew in return for a percentage of the profits if the voyage turned out a success. These early limited liability companies often lasted for only a single voyage. They were then dissolved, and a new one was created for the next trip. Investors lessened their risk by investing in several different ventures at the same time, thereby playing the odds against all of them ending in disaster.
When the East India companies formed, they changed the way business was done. These companies issued stock that would pay dividends on all the proceeds from all the voyages the companies undertook, rather than going voyage by voyage. These were the first modern joint stock companies. This allowed the companies to demand more for their shares and build larger fleets. The size of the companies, combined with royal charters forbidding competition, meant huge profits for investors.
July 3, 2019 at 6:22 am #24967AnonymousInactive
Is a quantum computer dangerous for Bitcoin?
Many researches say that in less than 10 years сomputing machines using quantum principles will threaten blockchain technology which is a basis for cryptocurrencies.
Bitcoin and similar systems’ defense algorithm is based on a principle of asymmetric encryption with and open and private keys. Transaction is signed by a private key, and its truth is checked with a help of an open key.
Despite the fact that Bitcoin blockchain uses asymmetric encryption, the users don’t have to worry for the safety of their coins. The open key is not stored openly. Thus, the addresses for coins transferring are not open keys, but just the results of usage of hash-function SHA-256. The hashing function performs one-sided transformation and that’s why it’s stable against quantum computer attacks.
The public key is rendered to the network in the open way just until it receives a confirmation. If an attacker receives an open key during transaction, he will have around 10 minutes to get the private key with the help of a quantum computer and try to make his own transaction from the same address but specifying a larger commission.
By the way, bitcoin mining is also relevantly safe, as the equipment for mining cryptocurrencies in the near future will be more powerful that quantum computers.
It is worth to note, that quantum calculations threaten absolutely all systems of computer security which care based on cryptography with an open key, and not only blockchain. Internet connections to render your password in Internet banking uses a similar encryption technology, same as communication in chatrooms, social networks and lots of other routine actions.
All security systems, including blockchain systems, need to take into account postquantum encryption to ensure data safety. But the most simple and effective way can be changing traditional systems by such blockchain which implements quantum-resistant cryptography.
There are several different ways of encryption with open key resistant to quantum calculations: bases on matrix, on code, multidimensional quadratic functions, and hashing function. But let us not digress into detail math stories.
The main point is that if there is a serious threat to blockchain posed by quantum computer, developers can improve the protection. Moreover, successful research and developments in this regards are being done not for the first year.
What do you think, who will be the first in this race – bitcoin developers or quantum computer developers?
July 17, 2019 at 6:35 am #36264AnonymousInactive
Sometimes it is necessary to confirm that you are the owner of this or that address. This may be required when, for instance, the seller wants a confirmation of your solvency, when recovering a hacked or lost account, or to prove that it was you who made a transfer and not somebody else.
Only owning a private key can prove your ownership of a bitcoin-address, but at the same time you cannot give away your private key: anybody with an access to it can spend your funds.
To solve this contradiction, a special function was developed – “signing a message”. When you sign a message, you can prove that you own a certain address and manage its funds. At the same time, secret information is not revealed, and no risk is posed for the funds at this address.
Creating a signature for any message is possible with lots of bitcoin-wallets. You will need to specify the address you need to confirm, and a message. The text can be of any nature, but it’s preferable it would tell something to the recipient. We advise you to always put the date and the reason of the message. If you sign any message without the specifics, somebody else might use it and pretend to be the owner of your address.
After signing the message, you can give the message with your signature to the other participant which will prove your ownership of the address. To check the signed message, it is possible to use a wallet or other resources.
Have you ever used this function? Have you heard about signing the messages for cryptocurrency wallets?
July 30, 2019 at 8:33 am #36752AnonymousInactive
Exactly 63 years ago on July, 30, 1956, the slogan “In God We Trust” appeared on American dollars.
Moreover, the phrase is an official motto of the USA.
The first time the motto was used in 1864 when minting 2 cent coins, but it was adopted on the national level in 1956.
Sometimes the phrase is jokingly extended to “In God We Trust, All Others Pay Cash” which shows economic attitude of Americans, and shopkeepers would use it to discourage credit.
August 28, 2019 at 2:36 am #39349AnonymousInactive
Dear readers and users of our platform, we have two pieces of good news.
1. From now on, the offers of the exchangers are accompanied not only by a minimal, but also by a maximal exchange amount.
To see the maximum the exchanger is ready to exchange, all you need to do is to hover the cursor over the line (on mobile devices it is needed to touch and hold a finger on a selected line for some time).
We would like to remind you that the current reserves of an exchanger may be lower than a maximal exchange amount, please pay attention to this when selecting an exchanger or use the “Calculator” tab to sift out exchangers that are not suitable for you.
2. Against the backdrop of a significant flow of USDT tokens capital to the Ethereum blockchain, many large exchanges have already added support for ERC-20 standard tokens.
Now in our monitoring BestChange.com you can see two types of tokens USDT-Omni and USDT-ERC20 separately from each other with their unique exchange rates and reserves.
We would like to remind you about the difference between these tokens:
Tether Omni — these are USDT tokens launched on omni layer protocol based on Bitcoin network. Its address is a BTC format address.
Tether ERC20 are USDT tokens launched on ERC-20 protocol standard based on Ethereum network. Its address is an ETH format address.
The users are recommended to carefully familiarize themselves with the type of tokens before making any exchange operations. If you have any questions about the used standards, please contact the support service of the exchanger before making the exchange.
As always, you can find the best exchange rate for the most popular currencies on our site. BestChange.com, exchangers monitoring is always at your service.
September 3, 2019 at 4:12 am #39503AnonymousInactive
ℹ️The cost of bitcoin transaction fell by almost 90%
BTC trades almost reached the level of the end of 2017. This is the period when the main cryptocurrency began its famous rally, the peak of which was the increase in the coin rate up to $ 20,000. According to the information of Bitinfocharts service, since that moment the cost for transactions has dropped by almost 88%. In December 2017 commission was around $10-30, and now it has fell down to $0,58 on average. It can be due to considerable popularity of processing operations of BTC transactions at the end of 2017 in comparison with today. Then up to 400 000 operations went through the network daily, when now this figure has dropped to 300 – 350 000 transactions. Another factor influencing the commission cost is the growing popularity of SegWit protocol, the share of usage of which has recently exceeded 60 per cent.
ℹ️Transparent Volume experts: Only 17% of bitcoin transactions do not raise suspicion
According to the new service Transparent Volume of the Nomics cryptocompany, the majority of transactions with the main cryptocoin are suspicious. The experts say that only 17% of BTC operations can be considered genuine. Around 35% of transactions are evaluated within the range from “satisfactory” to “bad”. The total amount of such operations today has reached $3,99 billion.
Transparent Volume is created to monitor the circulation of digital asses between different platforms. It works in real time. Nomics believes that usage of Transparent Volume will help users obtain full and objective information about current trade volumes. The service positions itself as a platform whose work is associated with lesser risk of recording information about fictitious transactions and other misleading facts.
September 9, 2019 at 7:14 am #39666AnonymousInactive
There are prospects: forecasts of digital currency market participants
This week was full of various events for both participants of the cryptocurrency industry as well observers. Here are some expert comments on the current development of the digital asset market.
On Monday Yves Mersch, Member of the Executive Board of the European Central Bank (ECB) criticized Facebook’s Libra.”Libra could reduce the ECB’s control over the euro, impair the monetary policy transmission mechanism by affecting the liquidity position of euro area banks, and undermine the single currency’s international role” . The official has also noted that Facebook’s cryptocoin will in fact be accountable to shareholders, raising trust issues, as it will not be backed by a central bank. Mersch called on regulators to take tight control over Facebook’s projects, and for users not to trust the tempting but questionable promises from the representatives of the American company.
Meanwhile, Jack Dorsey, the head of Square payment start-up and Twitter co-founder, continues to insist that cryprtocurrencies will continue to spread. The businessman believes in bitcoin, but he thinks that it is still too early to call it currency. In one of his latest interviews Dorsey notes, that bitcoin’s rises and falls in prices are more characteristic of a investment asset, such as gold. He hopes that as soon as the cryptocurrency becomes the currency of the Internet, his own start-up will pay more attention to services that create added value, rather than those that are engaged in money transfer
Mark Mobius, an investor in developing markets and Mobius Capital Partners founder said that gold-backed cryptocurrency can be an interesting phenomenon. The investor emphasized that there is a whole generation of people who have faith in the internet, and they have faith in cryptocurrencies.
“People believe in dollar because they have faith that with dollars in their hands they can buy something. Crypto enables people to buy something merely because they believe it has value”, Mobius said.
In the beginning of the week trader Peter Brandt tweeted that bitcoin has entered the fourth cycle of the parabolic uptrend that could lead it significantly past its all-time high price. The analyst is confident that the price of Bitcoin will reach one hundred thousand dollars in the long run. And although this bold prognosis does not yet have lots of supporters, one can’t ignore the fact that the price of the main cryptocoin is showing steady growth since Monday.
According to Coinmarketcap, by September,6, bitcoin rose in price up to $10 875, starting from the mark of $9 623 on the night of September,2.
September 14, 2019 at 2:06 pm #41124AnonymousInactive
September 25, 2019 at 4:41 am #47349AnonymousInactive
The market of popular crypto currencies is still in the “red zone”
During the last day the price of bitcoin was gradually growing. However, the crypto coin, as well as the other top-10 tokens, has not yet left the “red zone” of the market. According to Coinmarketcap, at 15:00 CET, the first crypto coin’s price was $9,690.
Market players have different opinions in this regard. Some insist that they hope for the prospect of BTC growth. Others say that there are no drivers for growing in price yet, and the price fluctuations are strictly speculative in nature.
During the last 24 hours, Ethereum dropped more than by 6%, having reached $197. Litecoin has demonstrated the most dramatic drop (-9.23%), having fallen down to $66.
Opinion: BTC is now more stable than a year ago
Alex Krüger, the famous cryptocurrency trader, expressed an opinion that currently the position of the first cryptocurrency is much more stable than it was in 2018. Then, the average trading BTC rate was at the level of $6,400, and this year the crypto coin has managed to get over the $10,000 mark.
The crypto enthusiast believes that the BTC rate growth signals the average increase of crypto coin’s popularity. The gradual adoption of bitcoin is also indicated by the fact that 25 thousand retailers in France, for instance, the Sephora network, plan to accept the first cryptocurrency. It is scheduled to happen already in the beginning of the following year.
Nigerian government official paid $15K ransom in Bitcoin
In a publication for Daily Trust, Nigerian government official Dr. Umar Ardo said the criminals made him pay a $15,000 ransom in bitcoin to release his kidnapped daughter.
Last week, Dr. Ardo’s daughter Amado was kidnapped at a gunpoint around a shopping center. What strikes about this incident is that it is for the first time in history that criminals demand payment in cryptocurrency.
Why in bitcoin? Investigators believe the criminals requested the ransom to be paid in bitcoin to remain anonymous and escape penalty, since blockchain transactions are completely anonymous.
Sadly, incidents like these cast a shadow at the refutation of cryptocurrencies. Despite the indisputable advantages of blockchain technology, many leaders have voiced concern regarding anonymity connected with that.ndustry innovations will push the payment systems to search for original ways for development. Only this way they will be able to meet competition and tap into new markets.
October 21, 2019 at 6:42 am #56308AnonymousInactive
Hidden miners were found in audio files
BlackBerry Cylance threat researches discovered malicious virus – Monero miner embedded within WAV audio files.
When played, some of the WAV had no glitches, others generated white noise. The specialists discovered embedded code Monero CPU miner, as well as the code used to establish a reverse shell to remotely connect to the victim’s network.
NewsBTC analyst: bitcoin dropped down to $7,500
Aayush Jindal, expert for NewsBTC website believes that the world’s main crypto coin will continue falling. The next levels will be $7,800 и $7,500.
According to him, the resistance at supporting bitcoin’s price of $8,000 was a reason behind the new bearish trend on the 4-hours chart.
There is a major bearish trend line forming with resistance near $7,950 on the 4-hours chart of the BTC/USD pair. MACD and RSI indicators also signal the declining movement. Currently BTC is trading around the mark of $7,900.
Are whales to blame for bitcoin’s decline?
On Friday bitcoin lost about 1,8% in price. The dump started at night, and right on the verge of it Whale Alert analysts detected a transfer of 10,000 BTC (around $80 mln) to Binance trading platform.
If these two events are connected is not clear, but the crypto community is actively discussing the topic of bitcoin-whales manipulating the market. Unlike the classic markets, the crypto market has no protection against such activities.
October 24, 2019 at 4:38 am #56416AnonymousInactive
Visa and MasterCard created an Apple Pay competitor for paying for online purchases
Payment systems Visa, MasterCard, American Express and Discover joined their efforts to create a new option to pay for online purchases in “one click”. The joint project Click to Pay will make online checkout easier as all the payment details will be kept in one place. This eliminates the need to enter your credit card number each time.
The new payment service is expected to become the main competitor of Apple Pay and PayPal. A similar function (one-click purchase) is already working on Amazon, but the use is limited only by this online-retailer.
Ex-CFTC Chair: we deliberately collapsed bitcoin
Christopher Giancarlo, former chairman of the US Commodity Futures Trading Commission said that the Treasury and the SEC are responsible for bitcoin’s drop in price after reaching its historical minimum in December 2017.
According to him, the regulator intentionally approved the release of bitcoin futures on Chicago Mercantile Exchange to allow to open short positions.
“We saw a bubble building and we thought the best way to address it was to allow the market to interact with it.”
Giancarlo said that the US Treasury and SEC decided to collapse the BTC price to prevent the bubble from reaching the dangerous size for the economy. In their time regulators overlooked the beginning of the 2008 financial crisis, that’s why in 2017 they took preventive steps.
Casa start-up solves the problem of passing on crypto assets
Custodial start-up Cassa offers a service of guaranteed passing on of crypto assets.
The gist of the offer is that the owner makes an agreement with Case in which he gives an additional key to his wallet.
Thanks to the fact that the optional key with multisignature is transferred to Casa, this eliminates the theft of bitcoins.
In case the owner of the cryptocurrency passes away, Casa fulfills the last will of the deceased.
October 29, 2019 at 9:14 am #56935AnonymousInactive
Will China buy all the bitcoins?
Xi Jinping, General Secretary of the People’s Republic of China, called for more efforts to advance development in the field of blockchain technologies, which lead to a frenzy in the world of cryptocurrency. For instance, after Xi’s speech, the search volume in the app WeChat for hashtags “Blockchain” and “Bitcoin” increased 12 and 2 fold correspondingly, and Chinese cryptocoins saw a dramatic price boost during the last weekend. For instance, TRX surged by 50%, and Neo almost doubled its value, having fixed it at a little over $11 for a coin.
Against the background of this frenzy, some people saw China’s growing interest in cryptocurrencies as a threat. One of them is Anthony Pompiliano, who tweeted: “Someone tell President Donald Trump that there are only 21 million Bitcoin and China is planning to buy them all. This is going to be the real US – China competition. That should get him to pay attention. The guy hates losing and will try to buy them all.”
However, despite this tweet was supported by many people, the majority favor a different opinion on forums dedicated to cryptocurrencies: “If China buys all bitcoins in free circulations, it will acquire nothing more than a large number of empty “candy wrappers”, because, as cryptocurrency owners think “in this outcome the interest to bitcoin will evaporate, and the demand for it will drop to zero”
Crypto Capital Principal indicted
According to court documents, presented to the accused by the Attorney of the Southern District of New York, Crypto Capital Pricnipal Oz Yosef was planning to transfer $ 10,000,000 to a bank located in the Bahamas for the purpose of misappropriation, which falls under the article on bank fraud.
During the investigation, the company’s funds were frozen. It must be noted that $880 of these funds belonged to Bitfinex cryptocurrency exchange.
51 % attack in BCash chain
For a day, in the interval between October 24-25, one or several miners controlled half of all computing power used for mining Bitcoin Cash. During this time the unknown perpetrator(s) managed to mine 73 blocks.
This situation attracted great attention, and the position of the cryptocurrency already not very welcomed in the Internet became even more precarious. For instance, Twitter user Notgrubles suggested delisting Bitcoin Cash from main trading platforms.
October 31, 2019 at 9:57 am #56996AnonymousInactive
The People’s Republic of China adopts the first law on cryptography
This law will come into force on January 1, 2020. Interestingly, the law is not connected directly with cryptocurrencies, but is aimed at creating standards for the application of cryptography and passwords management. However, according to experts, passing this law means nothing other than China’s approaching the launching their new national cryptocurrency. It is connected with the fact that cryptography is the main component of cryptocurrency.
TRON dislodged Ethereum in an updated Chinese cryptocurrency rating
CCID of China has presented its fourteenth rating of cryptocurrencies. The leaders occupying the first three positions remained unchanged, but also some reshuffling took place. Ethereum lost 13 points for basic-tech, due to which it ceded the second place in the rating to TRON cryptocurrency.
Bitcoin does not participate in this race to the top and from the moment of publication of the previous rating, having received a small boost to its total index, still occupies the eleventh position.
November 8, 2019 at 2:36 am #57285AnonymousInactive
Actions of one whale could influence on bitcoin surge in 2017 and Stellar has destroyed 55 billion of their token
Bitcoin price surge of 2017 could be fueled by one whale
The University of Texas has published research which shows that a whale was buying a large amount of BTC during drawdowns and additional emission of USDT. It is important that such a “scheme” was used only on the Bitfinex exchange.
Connection between bitcoin growth and USDT have been discussed before. TokenAnalyst experts have already noted an incredible coincidence between bitcoin pump and Tether emission. However, it was believed earlier that this had been caused by actions of lots of independent traders.
A group of researchers analyzed all BTC and USDT transaction between March, 1, 2017 and March, 31, 2018 and came to a conclusion that it had been one large player. At the same time, no similar pattern was detected on other exchanges.
It should be understood that Bitfinex controlled over 20% of the market in 2017-2018, and it is only by 2019 that the exchange’s market share dropped to 7,3%.
Stellar burst into the top 10 cryptocurrencies after destroying 55 billion tokens
Stellar team reported destroying 55 billion of tokens. They took this decision after analyzing the plan of blockchain implementation. The coins that got destroyed were mainly the ones for airdrop (out of 43,5 billion only 6 remained), as well as operational fund (out of 16 billion, 11 remained) and affiliate programs (12 billion out of 25).
This was announced at Meridian conference in Mexico, Stellar Development Foundation announced the burning and in two hours the token rate increased by 16% from $0,069 to 0,083. Currently, correction took place and Stellar’s price is $0.0806.
The developers said that no further coin burning is planned. In total, 55 billion (worth of $4 billion) of XML were destroyed.
Einstein Exchange shuts down with the debt of 16 million
Einstein Exchange clients say that the exchange’s management and employees stopped replying to requests and complaints, and the users cannot get access to their funds.
Currently, the management of the exchange has been transferred to the British Columbia Securities Commission (Canada). The total damage estimate is $16 million.
When the exchange was registered its management provided judicial evidence of possessing assets to satisfy all withdrawal requests, however refused to provide the location of the funds.
Currently the office of the exchange is closed, there is no access to their website and investigators cannot establish the location of Michael Ongun Gokturk, the exchange founder. The pages of the exchange in social networks are buried under complaints of dissatisfied customers.
November 12, 2019 at 8:59 am #57449AnonymousInactive
Ethereum developer confirmed the date of hardfork
The next upgrade of Ethereum blockchain called Istanbul, which the users have been waiting for over six months, will be implemented before the end of the year. This has been announced by their developer Peter Szilágyi in Twitter.
The hardfork is scheduled to take place at block 9069000 which should be generated around December, 4, 2019.Fot this new client Geth has already been launched, which already has hard fork.
The peculiarity of the upgrade will be implementing of ProgPoW, programming algorithm aimed at eliminating the advantage of ASIC-miners over GPU-miners.
But the users look more forward to the next upgrade Berlin which is scheduled for the first half of 2020.
North Korea accused of money laundering with the help of cryptocurrencies
The UN Security Council Sanctions Committee on North Korea led an investigation which discovered the connection between the country and the Hong Kong blockchain company Marine China.
According to the representatives of UK Security Council, the country’s leadership has been using various strategies with cryptocurrency to evade from international sanctions. It is reported that North Korea made at least 5,000 transactions using stolen cryptocurrenies. It was made to make establishing the source of the money more complicated.
It is believed that the North Korean hackers were using phishing attacks and computer viruses to steal digital currencies and then laundered and cashed it in Singaporean banks. The Committee has not named the total amount of stolen funds.
November 15, 2019 at 5:28 am #57586AnonymousInactive
Morgan Creek CEO: sell Amazon shares, buy bitcoin
Morgan Creek Capital CEO Mark Yusko said that bitcoin is the next groundbreaking technology, and that it is currently the greatest wealth-creation opportunity there is. At the same time, he called Amazon shares “dead money for a decade”.
Morgan Creek Capital is known for investing $5 million in Google in 1996. At the time, Google was the sixteenth-most used search engine and not known by many. Later on, this investment turned into $200 million.
BRICS can create its own cryptocurrency
BRICS countries (Brazil, Russia, India, China and South Africa) are considering a possibility to launch a payment system based on cryptocurrency. It would be used for mutual payments between countries – association members.
The idea was introduced by Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF) at the BRICS forum in Brazil. According to him, the members of the association’s business council supported this suggestion.
Bitcoin keeps falling. When will this stop?
Bitcoin will test again the resistance of $8,600 level, and in case of breaking it, it will carry on falling, according to Aayush Jindal, NewsBTC analyst. The closest targets are marks of $8,500 и $8,300. Jindal thinks that for a full turn, the price needs to settle over $8,880.
November 20, 2019 at 7:19 am #57733AnonymousInactive
Trading volume on BitMEX hit 2019 low
The daily trading volume on the largest crypto derivatives exchange BitMEX has dropped down to 86,850 BTC — lowest since the November 2018. This was brought to attention by CL, Twitter analyst.
“This market is officially lifeless,” — he wrote in his account.
BitMEX is the platform with the highest liquidity in the world for cryptocurrency derivatives trading.
Venezuelan government to gift the retirees with cryptocurrency for Christmas
Nicolas Maduro, the President of Venezuela, said that all the country’s retirees and officials will get 0.5 El Petro (around $30) as a Christmas gift.
El Petro is a national cryptocurrency of Venezuela. As the government of the country says it is fully backed by oil. The government is trying to use El Petro in the country’s economy and for trading with other countries, however, with not much success so far.
November 25, 2019 at 5:21 am #57832AnonymousInactive
Bitcoin crashes below $7,000
Last Friday the world’s first cryptocurrency lost over 10% om price and crashed below $7,000 on a number of exchanges. Such low price of bitcoins is registered for the first time since May this year.
Against this background, the “fear index” has dipped down to extreme values at the level of 20. According to the site Alternative.me it can mean a possible growth of the cryptocurrency.
Binance CEO refutes rumors about the raid in Shanghai office of the exchange
On November, 21 media announced that the largest office of Binance in Shanghai shut down after a police raid. Many analytics connect this news to the cryptocurrencies losing prices, including bitcoin’s dropping below $7,000.
Changpeng Zhao, CEO of Binance, refuted this information, calling this information a FUD block.
“No police, no raid, no office. Hope you didn’t pay to read that FUD block.” — he wrote in his Twitter-account.
The USA can make Facebook’s cryptocurrency a security
The House of Representative of the USA introduced a new bill about acknowledging managed stablecoins such as Libra as securities.
“Managed stablecoins, such as the proposed Libra, are clearly securities under existing law. This legislation simply clarifies the statute to remove any ambiguity. Bringing clarity to the regulatory structure of these digital assets protects consumers and ensures proper government oversight going forward”, — stated Sylvia Garcia, one of the bill’s authors.
November 29, 2019 at 8:17 am #57975AnonymousInactive
Fraudsters are selling Gram. Telegram warns users
Pavel Durov’s team said that selling of Gram tokens has not started yet, and asked users to not fall for scammers’ tricks.
“Some websites offer Gram for sale and pretend to be connected with Telegram. Please be advised that these sites are not official and have no relation to Telegram. Gram has not yet been given to anyone and Telegram is not selling Gram”, – states the official Telegram-channel of the company.
Cryptocurrency worth of $4.4 billion stolen in 2019
According to the research company CiperTrace, the amount of theft and scamming in the sphere of cryptocurrency reached $4,4 billion since the beginning of the year.
The report says that in Q3 of 2019 criminal have stolen the minimal amount during the past years. However, in comparison with the last year, the losses increased by $2,7 billion.
The company’s experts also named the largest crypto crimes of the year: the cryptocurrency pyramin PlusToken ($2,9 billion) and shutting down of the exchange QuadrigaCX ($195 million).
Andreas Antonopoulos: governments place a damper on bitcoin price
Andreas Antonopoulos, famous bitcoin enthusiast, said that governments act to lower bitcoin’s price, but this is not a conspiracy, it’s just their “job”.
“We know for a fact that when the bitcoin bubble started to go up really fast in 2017, the U.S. Treasury decided to fast-track the deployments of futures markets in order to stop that bubble. A lot of people see that as conspiracy, but if you look at the mandate of institutions like the Treasury, that’s actually their job”, Antonopoulos said in his interview with crypto blogger Ivan on Tech.
According to the analyst, this allowed investors to open positions for on lowering the price of bitcoin which balanced the market, as well as reduced its volatility.
December 10, 2019 at 9:30 am #59564AnonymousInactive
December 18, 2019 at 3:08 am #64148AnonymousInactive
Bank of America named bitcoin the best asset of the decade, billionaires invest into BTC, and ethereum’s volatility is at its lowest
Bank of America: bitcoin is the best investment of the decade
Bank of America Merrill Lynch named bitcoin the best asset for investment of the decade. 1 dollar invested in 2010 would now be $90,026.
For comparison, 1 dollar invested in American stocks during the same period would have the price of $3.46. Myanmar’s national currency was named the worst asset, since 2010 $1 invested in it now has a value of just $0.004.
Yet another billionaire bought bitcoins
The number of billionaires investing in cryptocurrencies is steadily growing.
Financial expert Bill Pulte announced his purchase of 11 BTC (around $78,000). He is the CEO of investment company Pulte Capital Partners and is worth about $11 billion. Pulte thinks the main advantage of bitcoin is an opportunity to make a transaction to any part of the world without a middleman. According to the billionaire, bitcoin canmake the life of the poor easier and make the world a better place.
Ethereum’s volatility drops to the level of 2016
Ethereum has been trading in the narrow range of $140-150 for a long time now. According to CoinMetrics.io, ETH’s volatility index dropped to 2016’s lowest.
On December, 8 Ethereum has undergone Istanbul hard fork, which did not lead to the cryptocurrency’s price growth, despite expectations
December 20, 2019 at 3:46 am #65401AnonymousInactive
Ethereum’s price is threatened, and the number of bitcoin hodlers is growing
Ethereum is threatened: Plus Token pyramid’s assets started moving
The organizers of a cryptocurrency pyramid Plus Token moved 789 525 ETH (about $105 million) to an unknown address. Twitter account Whale Alert paid attention to the transfer.
Matteo Leibowitz, the Block’s analyst, thinks that scammers can buy Ethereum futures for sale, crash down the spot price and close future contracts with a profit.
In the summer the Chinese police managed to detain the suspects in the Plus Token ponzi scheme case, but access to wallets could not be obtained.
The price of unspent UTXOs in loss hits a record high
The number of unspent transaction outputs (UTXOs) in loss rose to all-time highs above $45 million, according to a research by Glassnode.
This indicates the rise of the number of “hodlers” – people who hold bitcoin despite its price decrease.
Federal Reserve: over 50% of bitcoin transactions are illegal
Lael Brainard, member of the United States Federal Reserve Board of Governors, said that 25% of all bitcoin users participate in illegal operations.
“One study estimated that more than a quarter of bitcoin users and roughly half of bitcoin transactions, for example, are associated with illegal activity”, — the representative of FR said at an ECB event.
She also said that only a third of exchanges meet the requirements for AML (anti money laundering), CFT (combating the financing of terrorism) and KYC (know your customer) procedure.
December 25, 2019 at 2:18 am #68429AnonymousInactive
Hackers steal 2 million NULS token, Ethereum hard fork scheduled for January,1 and Craig Wright “proved” he is Satoshi Nakamoto
Hackers steal 2 million NULS tokens
Threat actors hacked and official account of the NULS projects and transferred 2 million of tokens. 550 thousand of them have already entered the market, the NULS team says.
At the same time the exchange rate of the coin has stayed almost the same – the currency lost in price just 0.58%. The developers are going to make a hard fork of altcoin to prevent hackers from spending the rest 1,45 million of tokens. The hacking took place because of the NULS 2.2 version security vulnerability.
Ethereum hard fork to take place on January, 1
Ethereum’s hard fork is scheduled for block 9,200,000 which is expected to be mined by January 1, 2020. The update is designed to delay the Difficulty Bomb by 4 million blocks (equivalent to 611 days).
The developers asked nod owners to update their software before December 30, 2019.
Craig Wright “proved” that he is Satoshi Nakamoto
The Australian scientist Craig Wright demonstrated “proof” that he is the bitcoin’s creator Satoshi Nakamoto.
During an interview with Modern Consensus, Wright showed an article to explain the choice the Satoshi Nakamoto pseudonym. The article is about a philosopher Tominaga Nakamoto who lived in 18 century. The printed out document, made according to Wright in 2008, also contained the following handwritten notes:
“Nakamoto is the Japanese Adam Smith. Honest Ledger + Micro Cash. Satoshi is Intelligent History. Not too hard.”
He explained that Tominaga Nakamoto wrote about “honest money and the rational nature of things”. Wright compared his with Adam Smith – one of the founders of the theory of economics.
Craig Right publicly claimed that he was the creator of bitcoin in 2019 about hasn’t yet provided sufficient evidence to prove it.
December 26, 2019 at 8:43 am #69339AnonymousInactive
Tone Vays: bitcoin will kill altcoins
Bitcoin’s hash rate growth will eliminate most of altcoins, trader Tone Vays says.
He noted that since December 2017, bitcoin’s hash rate has grown by 800%, which was not the case with altcoins. The trader has also added bitcoin’s dominance index went from 50% to 70% in 2019, and next year it will be 85%.
“I think we have another 10-15% in Bitcoin to gain on the sh*tcoins as it continues towards 90% and 95% and then 98%”, – Vays said.
December 30, 2019 at 2:15 am #73050AnonymousInactive
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It is time for New Year’s resolutions and goals. Achieving them will make your life interesting, bright and successful.
January 10, 2020 at 8:31 am #77450AnonymousInactive
Why will altcoins disappear and what will become of bitcoin in 2020
Tone Vays: all altcoins will disappear
Analyst Tone Vays famous in crypto community thinks that the price of the most popular altcoins will drop to zero because they are worthless and cannot substitute for bitcoin.
“Who will use Litecoin when we have Lightning Network, who will use Ethereum when we have side chain Liquid Network? Will people use Binance token? I don’t know because it’s useless”, — Vays said.
He also added that he doesn’t expect to see bitcoin cost over $10,000 in 2020.
Bloomberg: bitcoin will become stronger in 2020
Bloomberg’s analysts published a report with cryptocurrency predictions, according to which bitcoin will become stronger in 2020. The experts note that bitcoin become more and more popular as investment against a weak dollar and global uncertainties.
According to them, limited number of coins and halving of the block reward in May 2020 will account for increasing price of BTC.
“Bitcoin’s initial reaction to the U.S. airstrike was a good test of our premise that the first-born crypto is maturing toward a digital version of gold”, — the report says.
On January 3, bitcoin reached its seven weeks’ maximum after U.S. military attack near Baghdad which killed Iraqi general Qasem Soleimani.
January 15, 2020 at 6:13 am #77773AnonymousInactive
CME launched bitcoin options, and bitcoin network continues to grow
CME Group launched bitcoin options
Chicago exchange CME Group launched bitcoin options trading on January, 13. The core of the instrument are bitcoin futures contracts introduced by the company in December 2017. After the latter were launched, BTC price started going down from its historic high of $20,000 and hasn’t bounced back to that level yet.
On January,14 bitcoin grew by 4,61%, and the majority of TOP-100 cryptocurrencies by market capitalization demonstrate positive dynamics.
127 million of BTC addresses appeared since the end of 2017
Despite bitcoin market being bullish, since 2017 the network got 127 million addresses. According to Decentralized, sometimes the number of new addresses registered within 24 hours reached over 300,000.
“For a sense of scale, the number of people holding more than 0 bitcoin in Jan 2011 was a mere 70,0000. Today that number is north of 28 million — a 400x growth over the decade”, – the company’s analysts write.
They add that the average day in 2019 saw Bitcoin processing over 300,000 transactions in comparison to a mere 5000 in 2011.
January 17, 2020 at 7:00 am #77908AnonymousInactive
Bitfinex tranferred $1 billion in BTC, and why it is too late to buy BTC
Bitfinex exchange transferred $1 billion in BTC with $80 commission
Cryptocurrency platform Bitfinex confirmed that it was them who made the mysterious transfer of 123,447 BTC (around $1,1 billion) registered by bitcoin enthusiasts. According to the company’s CTO Paolo Ardoino, the transaction was a part of a transfer of 150 thousand BTC to the platform’s hot wallet.
As a result of this operation, the second largest bitcoin address has emerged. It should be noted that the commission for the transfer of $1 B was just $80.
Why it’s too late to buy bitcoin now
In the near future bitcoin’s price will not longer increase, BK Capital Management’s co-found Brian Kelly thinks. He notes that
the growth rate of addresses in the network lags behind bitcoin’s price increase.
“The Bitcoin price got a little bit ahead of the address growth. So, just like I said about Apple, just like I said about the ‘triple Qs’ in 2000. When an asset goes straight up, that’s means a lot of the news is priced in”, — he explains.
According to Kelly, back in December the situation was the opposite, when the BTC price was on a decline, the number of addresses continued to increase. He adds that this was a strong buy signal that turned out to be spot-on.
January 22, 2020 at 2:35 am #82769AnonymousInactive
Miners earned $5 billion in 2019, there is a drop of interest to bitcoin as the price rises, and Peter Schiff lost his coins
Miners made an estimated $5 billion in revenue during 2019
As the specialists of The Block counted. Of that figure, $4.89 billion was in the form of block rewards and the rest – some $147 million – was made via transaction fees. The calculations were made based on bitcoin’s price at the time of mining.
For comparison, in 2018 miners got $5,26 billion in revenue, and in 2017 – $3,19 billion. The block reward will be 12,5 BTC until May 2020, and will drop to 6,25 BTC after halving.
Interest to bitcoin is dropping as the price rises
Google Trends is considered as one of the main metrics of interest in cryptocurrencies among the masses. Almost all the time the number for “bitcoin” searches was growing after the price’s growth, however now the tendency is broken.
This was brought to attention by Twitter user Haejin. Since the beginning of January, BTC has risen in price by $ 2’000, and altcoin capitalization has grown by 50%, while the number of Bitcoin searches in Google has decreased.
Crypto skeptic lost access to his bitcoin wallet
Peter Schiff, CEO of Euro Pacific Capital, famous for his negative feedback about cryptocurrencies, said that he had lost access to his wallet. Interestingly, he blames the wallets software in the loss of the coins.
“I just lost all theBitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!”, -Schiff tweeted.
Crypto community suggested that the businessman simply forgot his password and does not want to admit it.
January 24, 2020 at 2:19 am #85404AnonymousInactive
Pornhub added Tether, and the number of wallets with balance over 1 BTC continues to grow
Pornhub is now accepting Tether
One of the world’s largest adult sites added USDT tokens support. Pornhub blog says that it became possible thanks to cooperation with TRON, and if one chooses to pay for the website’s services in USDT, it is recommended to use TRONLink wallet.
Two months ago PayPal stopped supporting payments to Pornhub’s models, which made the platform add new payment system. Justin Sun, Tron’s CEO, said that introduction of payment in Tether is a “a brilliant way to support the victims of centralized payment platforms like PayPal”.
The number of wallets with balance over 1 BTC is growing
Glassnode company experts calculated that number of addresses with one or more bitcoins rose by 10% over 12 months. Now their number is 784’000.
According to the analysts, this key metric shows the number of retail trader. Since the beginning of 2015 this number has double which demonstrates the growing interest to cryptocurrencies.
“The steady rise is the result of accumulation by retail buyers. The rising number of addresses accumulating greater amounts of BTC is a sign that adoption as a store of value is increasing”, — the report says.
January 28, 2020 at 2:37 am #90719AnonymousInactive
Digital yuan could supersede dollar, and cryptocurrency consortium created at Davos forum
Deutsche Bank: Chinese cryptocurrency could erode the dollar’s primacy
Digital currencies, which are being developed by China and India, can change the centers of “global economic strength,” according to a report by Deutsche Bank.
The authors point out that China is already developing a cryptocurrency supported by the country’s Central Bank, which can be used as a power tool.
”Companies in the country are, in fact, forced to adopt a digital yuan which will certainly erode the dollar’s primacy in the global financial market”, – Deutsche Bank experts write.
They also add that at the current rate of internet development, the number of crypto wallet owners will quadruple to 200 million by 2030.
Davos forum participants create a consortium to regulate cryptocurrencies
During the World Economic Forum in Davos, the world’s first consortium was established, whose participants will develop regulation of the crypto industry. It is to include financial institutions, members of governments, large corporations, international organizations and the crypto community.
The founders of the consortium were Klaus Schwab, chairman of the Davos Forum, Mark Carney, head of the Bank of England, Tarman Shanmugaratnam, Minister for Economic Policy Coordinator of Singapore and representatives of the central banks of Egypt and Bahrain.
January 29, 2020 at 8:31 am #91942AnonymousInactive
Interest in the bitcoin halving has reached its maximum since 2016, and has dropped for IEO
Interest in bitcoin halving has reached its maximum since 2016
People’s interest in halving is growing – according to Google Trends, the number of “bitcoin halving” searches has grown to its highest level since 2016.
The last halving of the bitcoin block mining reward took place in July 2016, it was then when Google Trends recorded the largest number of related searches. Over the past two months, this figure has increased from 11% to 40%. The upcoming halving will take place in May 2020 – traders have high hopes for it, since previously bitcoin’s price surged some time after the event.
Larry Cermak: IEOs are dead
Initial exchange offerings (IEOs) return is near to zero, The Block analyst Larry Chermak points out. He analyzed the most popular platform and came to the conclusion that the IEO era has passed.
“IEOs are dead. There appears to be a clear relationship between the return and the number of days since the IEO. The average return of IEOs approaches 0% in 200 days. In other words, nearly no one wants to hold IEOs long term,” — he wrote in his twitter-account.
In Q III of 2019, 64% of projects showed positive returns; in Q IV their number dropped to 43%. Now only 23% of companies are in positive territory.
February 3, 2020 at 3:34 am #92113AnonymousInactive
Due to coronavirus, ASIC deliveries from China are delayed, and litecoin surges 17% in 24 hours
Deliveries of ASIC from China are delayed due to coronavirus
Chinese manufacturers of ASIC miners have postponed delivery of equipment due to the coronavirus outbreak. All offices and plants in the country were quarantined at least until February 10, according to Zodd Zverev, the CTO of the mining pool 1Thash & 58COIN.
“Internal logistics is almost completely paralyzed in the country, deliveries of food and strategic goods to fight the virus are in priority. Since it is forbidden to go to work and the police strictly controls this, the delivery and installation of new ASICs is practically impossible, ” he said.
In addition, the top management of mining companies, including Bitmain and Canaan Creative, left the country. They should return no earlier than the end of February — the beginning of March. Zverev believes that the slowdown in the introduction of new equipment will help miners stay in the profitable zone on the eve of halving.
Litecoin surged 17% in 24 hours and approached $70
The world’s seventh cryptocurrency by market capitalization went up by more than $10 in price and came close to $70.
LTC rises in price amid the general growth of the cryptocurrency market, but at a faster pace than bitcoin: in January, the BTC price grew by 30%, whereas litecoin strengthened by 65%.
It is worth noting that the first half of last year was very successful for LTC. Over the period from January to June, the coin added 350% in price – this was due to the halving of the block mining reward which took place in August.
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February 5, 2020 at 3:54 am #92209AnonymousInactive
Cryptocurrency hedge funds were the most profitable asset in 2019, and how to earn BTC in Minecraft
Cryptocurrency hedge funds were the most profitable asset in 2019
Hedge funds through bitcoin as their primary asset were the most profitable for the year 2019, according to a study conducted by Eurekahedge.
The profitability of hedge funds with cryptocurrency was around 16% on average, whereas traditional hedge funds only received a profit of 10,4%.
Steve Kurtz, CEO of the Galaxy Digital cryptocurrency fund said that the investors interested in Bitcoin are “getting bigger” as the profitability of bitcoin in a duration of 1-, 3- and 10 years is looking impressive.
The revenue of ethereum miners fell by 75%
In 2019, Ethereum miners have generated $936 million in coins, down 75% in 2018, The Block reports.
ETH hash rate reached peak levels in August 2018 at around 292 TH/s, after which the capacity decreased by 43% and now it stands at about 165 TH/s. Mining was most profitable in January 2018, when ethereum was trading near a historic high of $ 1,400.
For comparison, the total income of bitcoin miners in 2019 was over 5 times higher than that of ethereum miners.
You can earn bitcoins in Minecraft
In Minecraft, the popular multiplayer game, the SatoshiQuest server has been launched, which allows players to receive prizes in bitcoins.
Each player pays $1 in BTC that goes to the treasure fund. A player who finds the loot on the vast landscape receives 85% of the fund, with 15% going back into the next round’s loot pot.
The first round of SatoshiQuest took place on January 26 and it starts over every time someone finds the treasure.
February 7, 2020 at 8:32 am #92283AnonymousInactive
The price of ASIC miners to rise because of coronavirus, and ethereum surpasses the $200 mark
The number of transactions in the BTC blockchain has reached 500 million
The number of confirmed transactions in the bitcoin network has exceeded 500 million. This was announced by Jameson Lopp, the developer of Bitcoin Core, in his Twitter account.
“Today, as of block 616064, Bitcoin surpassed 500 million transactions confirmed on the blockchain,” Lopp tweeted.
It is worth noting that the network is growing with great acceleration: in 2017, the number of transactions did not exceed 250 million. At the current growth rate, in two years the blockchain can surpass the 1 billion transaction mark.
The price of ASIC miners to rise because of coronavirus
That’s what Chen Feng, Sales Director of Canaan, Chinese mining manufacturer, thinks. Due to the coronavirus outbreak, the country declared quarantine and closed down all enterprises, which forces miner manufacturers to postpone the delivery of equipment.
According to Feng, companies will resume work after February 10-15, and ASIC miners will start rising in price in February-March simply because of short supply. Moreover, he points out that it is not clear at the moment it is not clear when cheap logistics will resume in the country.
Ethereum has surged 10% in 24 hrs and surpassed the mark of $200
The world’s second cryptocurrency by market capitalization continues to strengthen — its price has grown by more than 10% to $210 in 24 hours.
Analysts believe that the price of ETH will continue to rise. Trader GalaxyBTC points out that the ETH/USD pair has approached the two-year resistance line, after breaking which “it’s showtime.” And according to analyst Josh Rager, in two years, many will regret that they did not buy ethereum at the price of $ 200.
The majority of crypto assets from the TOP-100 show the positive dynamics over the past 24 hours. Thus, bitcoin has updated the maximum of 2020, having risen in price to the level of $ 9,700.
February 12, 2020 at 5:16 am #92641AnonymousInactive
Cyber criminals netted $ 4.3 billion in 2019, and Japan plans to launch its own cryptocurrency
Japan plans to launch its own cryptocurrency
The country should have its digital currency in two-to-three years, according to Kozo Yamamoto, the head of the commission for the study of banking and financial systems of the Liberal Democratic Party of Japan.
He noted that the government will include this question in the list of medium-term tasks and attach the paramount importance to it.
“The sooner the better. We’ll draft proposals to be included in government’s policy guidelines, and hopefully make it happen in two-to-three years,” Yamamoto said.
He thinks that each country should create a digital platform to control cash flow. This will help better handle crises and stabilize the economy.
Cyber criminals stole $4.3 billion in 2019
Threat actors stole at least $4.3 billion in cryptocurrency in 2019, according to a study by Chainalysis. In 2018, the amount consituted $3 billion.
The dramatic increase of fraud was caused by the spread of financial pyramids, with 90% of the funds stolen through six schemes. The Plus Token platform was among the most notorious ones, it promised customers daily income for storing coins. The creators of the pyramid managed to raise $2 billion, they are currently under investigation.
In 2017, most cryptocurrencies were stolen through ICOs, and in 2018, through hacker attacks.
February 14, 2020 at 3:33 am #92863AnonymousInactive
Tether to track USDT transactions, and US authorities want to strengthen control over the crypto sphere
Tether to track USDT transactions
The company will implement a compliance tool to track suspicious transactions in USDT tokens. The goal is to meet the requirements of regulators in various countries. To do this, Tether will use the Know Your Transaction software created by firm Chainalysis.
“Know Your Transaction (KYT) is a real-time AML compliance solution for montiroinga token’s full lifecycle, from issuance to redemption, ” Chainalysis said.
According to the Tether company, the privacy of USDT owners will not be affected. Earlier, the British regulator suspended ePayments system due to non-compliance with the requirements of the anti-money laundering law.
Trading volumes on cryptocurrency exchanges increase by 70%
Since the beginning of 2020, trade on spot cryptocurrency exchanges has increased by 70% and reached a six-month peak.
More than half of the volume falls on the Binance exchange, whose share in the total turnover has also grown, according to a research by The Block. Regulated platforms of derivatives also see an increase of activity. Open interest at Bakkt reached a record $ 12 million at the end of January, and the average trading volume went up to $26.45 million.
Things are going well on CME too — in January the average trade turnover increased by 144% to $458 million. BitMEX is also not far behind — the level of trading in perpetual BTC swaps increased by 55% in the first month of 2020.
USA to release new cryptocurrency regulation rules
The US Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN) are developing new requirements related to cryptocurrency. This was stated by Treasury Secretary Steven Mnuchin.
He did not disclose the details but noted that departments are paying great attention to working out this issue and are working closely with other watchdogs. Mnuchin also added that he shares the concerns of Congress over the use of digital currencies in illegal operations.
Earlier, the administration of US President Donald Trump proposed budget proposal for 2021, which includes strengthening control over cryptocurrency transactions.
February 18, 2020 at 5:23 am #93073AnonymousInactive
Best days of the week to trade BTC, and Craig Wright says he owns rights to Bitcoin network
What days of the week it is best to buy and sell bitcoin
Longhash, data analytics platform, conducted a study: which days and hours are the most profitable to buy and sell.
For this study, experts analyzed two years of hourly bitcoin price data for each day of the week, having calculated the average prices of opening, closing, as well as maximum and minimum.
It turned out that bitcoin’s price had a tendency to be at its lowest point of the week on Fridays at around 6 AM UTC, and Monday evening/Tuesday morning at midnight UTC the price is on average $170 higher than on Friday morning.
The researchers note that Monday to Tuesday night institutional traders from Asia, America and Europe open long positions. On Friday, market participants seek to take profits before the weekend.
Craig Wright says he owns rights to Bitcoin
Craig Wright, the self-proclaimed Bitcoin creator, demanded that Bitcoin and Bitcoin Cash networks stop using the distributed registry, which, he said, belongs to him.
Wright said he would protect his intellectual rights to the first cryptocurrency’s blockchain in court.
“As the creator of Bitcoin, I maintain the sui generis rights to any copy of the database created from Genesis in January 2009. I shall not be relinquishing the ownership. I will be licensing it, and have already engaged in a process.”
He pointed out that only Bitcoin SV has a right to use a distributed registry, while Bitcoin and Bitcoin Cash do it illegally.
February 20, 2020 at 3:36 am #93161AnonymousInactive
Whales buy bitcoin, and Binance can not cope with the influx of customers
Research: whales are buying bitcoin
Analysts at the Kraken exchange found that in February, major holders of bitcoin (100-1,000 BTC) became much more active. According to the report, the previous phase of the accumulation of coins by whales led to an increase in the exchange rate in January of this year. A similar relationship was observed in 2018-2019.
“We anticipate accumulation to conclude in the weeks/months ahead and volatility to re-emerge”, experts say.
There are also“smaller” investors who own amounts between 0.1-1 BTC – over the year their number increased by around 10%. However, the largest coin holders (over 1,000 BTC) are still employing “wait-and-see” tactics, analysts say.
Binance performance issues caused by an influx of users
Last week, customers of one of the largest cryptocurrency websites Binance encountered the website’s performance issues.
CEO Changpeng Zhao said that the problems were caused by an influx of users an increased load on the system. Zhao links the influx of customers with bitcoin’s price returning to $10,000.
“The difference between BTC at $10,000 this time around and the previous times is, there are a lot more users now. While this is a solid sign of strong recovery for the crypto market, it also puts on significant load for our systems,” the Binance CEO wrote.
CelticGold encourages investing in bitcoin
Another major investment company recommends its customers to invest part of their funds in bitcoin.
CelticGold specializes in precious metals trading. The company’s analysts published a report in which they had revealed the advantages of cryptocurrencies and recommended that investors allocate 1-5% of their portfolio into bitcoin.
“If you are very familiar with cryptocurrencies and Bitcoin, you can individually allocate higher percentages to Bitcoin. For the average investor, who is also invested in equities and real estate, 5% in the highly speculative and highly volatile Bitcoin is already a lot!”
CelticGold experts add that BTC is a safe haven asset, as it is not managed by central banks and governments. In addition, the number of coins is limited, and regulators cannot print new ones.
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February 25, 2020 at 3:49 am #93489AnonymousInactive
Ripple gets in the top 100 payment systems, and oil prices are more volatile than bitcoin
Ripple got in the top 100 international payment systems
The payment system based on the Ripple company blockchain was included in the list of the 100 largest cross-border payment systems. This is the only blockchain project in the list.
The TOP-100 was compiled by the analytic company FXC Intelligence, along with Ripple, the list included Visa, Bank of America and PayPal. In addition, it contains MoneyGram, TransferGo and other payment systems that have partnered up with the blockchain project.
Oil prices are more volatile than bitcoin
Cryptocurrencies are usually blamed for considerable price fluctuations, but as it turned out, at the moment bitcoin is far from being the most unstable asset.
At the end of January, The West Texas Intermediate (WTI) oil price’s one-month realized amounted to 119.6%, while that of BTC – 54.5%. For comparison, in gold this indicator is 17.3%, the S&P 500 – 11.6%.
This is not the first time that the oil rate exceeds bitcoin in the range of fluctuations. For example, in the fall of 2019, WTI volatility increased to 133%, when BTC did not exceed 50%. Realized volatility is the standard deviation of daily price fluctuations in percentage.
February 27, 2020 at 3:35 am #93737AnonymousInactive
BCH, BCV and Tron dip by 20% in two days, and Morgan Creek founder urges not to trust Buffett
Founder of Morgan Creek: “I would not trust Buffett”
One shouldn’t listen to Warren Buffet’s advice regarding cryptocurrency, Anthony Pompiliano, Founder of Morgan Creek, thinks. According to him, Buffet is a great investor but knows nothing about technology.
“People will listen to Warren Buffett’s opinion because he is one of the best investors of all time. When it comes to technology, though, I think there are better people to listen to. I don’t take technology advice from someone who uses a flip phone or doesn’t use email, ” Pompliano said.
He also added that Bitcoin will become the will be the global reserve currency in the future, and national digital currencies will not be able to compete with it, since they are controlled by states and are subject to inflation.
Bitcoin Cash, Tron, and Bitcoin SV collapse by 20% in two days
Cryptocurrency market is in the red: at the moment, all TOP-20 assets, excluding the USDT stable coin, are showing a decline.
Over the past two days, the currencies that lost the most in price are BCH (−22%), BCV (−23%) and Tron (−21%) The average market price of Bitcoin fell from $9,950 to $9,158, Ethereum fell from $275 to $236, the price of XRP fell from $0.2831 to $0.2396.
The total market capitalization dropped by $31 billion: from $290.074 to $259.161. According to analysts, the reason lies in the fact that the price of bitcoin failed to gain a foothold above the strong level of $10,000.
March 2, 2020 at 6:50 am #98403AnonymousInactive
China suggests banning cryptocurrencies, and Craig Wright seriously plans to seize all BTC
China proposes to ban cryptocurrencies and ICOs
Chinese authorities must tighten control over the crypto sphere after the launch of the digital yuan, Chen Weigang, former Vice President of China Insurance Regulatory Commission of the Communist Party, said.
According to him, the cryptocurrency circulation and ICO should be banned.
“I always believe that speculation in cryptocurrency and ICO is not the direction of financial development and must be resolutely banned. They must be completely banned,” — the ex-official said.
He added that banks need to be prohibited from the opportunity to conduct any transactions with cryptocurrency.
Craig Wright plans to seize bitcoins through miners
Craig Wright, an Australian scientist and self-proclaimed creator of Bitcoin, is serious about seizing all existing coins through the courts.
Podcaster Peter McCormack published screenshots of Slack messages where Wright writes that the first BTC seizures will begin as early as 2020. Private keys won’t be required for this, since the court will order the nodes to return the bitcoins to their rightful owner, that is, Craig Wright.
“Without keys, BTC will be confiscated. Code is law, and courts can mandate patching code. Bitcoin is not encrypted. It is economic,” — the scientist writes.
He also requested data from companies including MtGox, that lost coins. Wright promised them to “return the money starting this year.”
13,000 ATM’s in South Korea to support Litecoin withdrawal
Litecoin Foundation has partnered up with MeconCash, to enable Litecoin withdrawals to Korean Wonat over 13,000 ATM’s across South Korea.
Cryptocurrency will be integrated into the M.Pay platform, which allows to make transfers around the country, buy goods, pay for mobile applications and other services.
Litecoin Foundation Director Alan Austin noted that the partnership will contribute to the spread of cryptocurrency in South Korea:
“The ability to access cash through Litecoin at over 13,000 ATM’s opens the door to new opportunities within the Korean market and globally. With billions in remittances sent each year to South Korea, Litecoin (through its speed, security, and low transaction fees) offers significant advantages over traditional methods of sending money overseas,” — he said.
March 5, 2020 at 3:08 am #100501AnonymousInactive
42% of BTC has not moved since 2017, and trading volume on LocalBitcoins hits a 7-year low
42% of BTC has not moved anywhere since 2017
CoinMetrics analyst Nate Maddrey noted that 42% of bitcoins stay the wallets of their owners since June 2017.
In addition, since January last year, investors have been actively building crypto portfolios. A similar situation was observed in mid-2017, by the end of which Bitcoin made the famous rally and set a price record at $20,000. According to representatives of the crypto community, at this moment the price of BTC is being prepared for a new leap.
However, it should be noted that about 4 million coins are permanently lost and physically unable to move.
Trading volumes at LocalBitcoins hit a 7-year low
Trading on the popular p2p cryptocurrency exchange platform LocalBitcoins has dropped to the levels of 2013, according to Coin Dance.
Last week, the weekly trading volume was 3,411 BTC, which is almost 10,000 BTC lower than in the same period last year. Such low volumes took place only when the exchange was launched. In 2019, LocalBitcoins introduced new user verification rules in order to comply with the KYC/AML requirements of the Finnish law where the exchange is located. In January, at the request of the EU, the platform also restricted access to several African countries.
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South Korea legalizes cryptocurrencies, and the US may issue a digital currency after China
Opinion: the US will issue digital currency after China
The US authorities are closely monitoring the development of Chinese digital yuan and, if necessary, will launch their own digital currency, according to ING economist Carlo Cocuzzo.
During a presentation at Blockchain Week in London, Cocuzzo said that 90% of forex turnover is in dollars, and the United States will not want to lose leadership. If the Federal Reserve considers that it is necessary to issue digital USD as opposed to the Chinese currency, it will immediately do so.
In August last year, representatives of the People’s Bank of China announced that the digital yuan will be launched soon, with the prototype and blockchain architecture of the token having been already been fully developed.
South Korea legalized cryptocurrencies
The South Korean authorities have adopted amendments to the legislation of the country, which legalize trading and storing of cryptocurrency.
For their launch they only need to be signed by the president. The government will be given a year to implement the changes, and representatives of the blockchain industry will be given 6 months to bring their activities in line with the new requirements.
Cryptocurrency exchanges, ICO projects and other blockchain companies will fall under regulation. They will be required to comply with financial reporting requirements, use real bank accounts, follow KYC procedures and certify information security management systems (ISMS).
Coinbase CEO: the number of cryptocurrency users will grow 100-fold
Today, the number of cryptocurrency users is 50 million people, but this number can grow to 5 billion, says Brian Armstrong, Coinbase exchange CEO.
The adoption of the blockchain will be similar to the spread of the Internet, Armstrong wrote in his Twitter account. In his opinion, a cryptocurrency that wants to become a world leader must meet four requirements: scalability, privacy, decentralized identity, and developer tools.
The primary goal is scalability, the businessman believes — the network must process thousands of transactions per second.
March 12, 2020 at 4:26 am #104880AnonymousInactive
IOTA network resumes operations after hacking, and trading volume of BTC options hits a record
IOTA network is back online after hack
IOTA Foundation relaunches network after being suspended because of a hacker attack.
On February 12, 2020, attackers stole 8.55 million tokens (about $2million) from the official Trinity wallet, affecting 50 users. IOTA founder David Sønstebø promised to pay victims back from his own wallet.
The company intends to continue cooperation with the FBI, the police of Great Britain, Germany and Malta to find the criminals.
Mark Cuban compared buying bitcoin and gold to collecting
American billionaire and owner of the NBA Dallas Mavericks club, Mark Cuban, once again spoke about cryptocurrencies, comparing them to gold and collectables.
“With Bitcoin, some people value it as a store of value, which makes it like baseball cards, art [and] gold,” he said.
Cuban, however, noted the value of the blockchain technology:
“When people say cryptocurrencies have no intrinsic value, they usually lose sight of the value of blockchain technology,” he added.
Bitcoin options saw record volume
On March 9, BTC options set a new trading record of $198 million.
According to the analytical service Skew, interest in options has grown amid an increase in bitcoin exchange rate volatility up to 65%.
The Deribit derivatives platform registered 86% of transactions worth about $170 million. The second most popular was the OKEx exchange with a trading volume of $23 million, followed by LedgerX and Bakkt. CME, which launched cryptocurrency instruments in January this year, registered only about 1% of the trade turnover.
March 16, 2020 at 9:14 am #108202AnonymousInactive
Overnight, BTC crashed to a 12-month low, and crypto traders lost $5.8 billion
Bitcoin collapsed to a 12-month low
This night, the BTC price experienced the largest drop in a day since 2013. The cost of cryptocurrency collapsed by more than 50%, at the moment touching the mark of $ 3,780. Cryptocurrency is currently trading near $5,500.
Most of the crypto assets also lost in value: Ethereum fell 56% to $86, the price of XRP fell to a four-year low at $0.101.
On March 12, buyers closed long positions at $ 811 million on the Bitmex exchange, which was a new record.
Cryptotraders lost $ 5.8 billion overnight
Due to the sharp collapse of the cryptocurrency market, 235 thousand users suffered losses. The total amount of liquidated transactions amounted to $5.8 billion, according to the portal bybt.com.
The largest number of orders worth about $2.9 billion was forcibly closed by OKEx. BitMEX derivatives platform was the second with a value of $1.7 billion, to follow by Huobi and Binance with losses of $827 million and $360 million.
BitMEX client suffered the largest of $71 million in one transaction.
March 19, 2020 at 6:11 am #111840AnonymousInactive
Starbucks to accept crypto payments, and Opera integrates a feature to buy BTC and ETH
Bakkt raises $ 300M in funding
Including from Microsoft. Digital asset startup Bakkt’s closed the Series B round, during which the company managed to raise $ 300 million.
The funds were invested by the New York Stock Exchange ICE, Microsoft, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital and Pantera Capital. Bakkt CEO Mike Blandina said the company plans to launch a payment application this summer.
“With the completion of our Series B financing and recent acquisition of Bridge2 Solutions, Bakkt is now a team of 350 employees and powers the loyalty redemption programs for 7 of the top 10 financial institutions and over 4,500 loyalty and incentive programs including two of the largest US airlines,” he said.
You can use crypto to pay at Starbucks
By using the Bakkt payment system. The popular coffee shop chain has announced a collaboration with the cryptocurrency platform in test mode – some Starbucks application users got a Bakkt Cash payment function.
“We anticipate that a range of cryptocurrencies will gain traction with customers and, through our work with Bakkt, we will be uniquely positioned to constantly consider and offer customers new and unique ways to pay seamlessly,” Starbucks had said.
Bakkt President Adam White said that the partnership will help the chain reduce payment costs for merchants.
Opera integrates a feature to buy cryptocurrencies
The U.S. Opera browser users will be able to purchase BTC and ETH directly from the browser. Users can buy cryptocurrency using a bank card or Apple Pay, and coins will be stored on a wallet built into the browser.
The Wyre payment system integrated the function, its commission will be $0.30 + 2.9% for the operation.
“Users can purchase as little as $1 worth of crypto, and there is a maximum daily limit of $250,”
“Users can purchase cryptocurrency even for $ 1, and the maximum daily limit is $ 250. As our browser-based wallet is focused around the usage of cryptocurrencies on the web and using dApps [decentralized applications], we expect the vast majority of transactions will not hit that limit,” a spokesperson at Wyre said.
The service is available in versions of Opera for PC, iOS and Android.
March 23, 2020 at 6:43 am #116911AnonymousInactive
Bitcoin went up by 23% in 24 hrs, and the Ethereum hashrate may drop by 30%
Bitcoin went up by 23% in 24 hours
The crypto market has started recovering: total market cap has grown by 19% over the past 24 hours.
BTC price strengthened by 23%: from $5,500 to $6,800. Ethereum rose by 22% and now costs about $148, XRP went up by 15% to $0.1720, Bitcoin Cash – by 29% to $239.
The largest price surge among the TOP 100 crypto assets was demonstrated by Bitcoin SV: the token has risen in price by more than 40% and is now trading near the $172 mark.
Trading volume on LocalBitcoins jumped by 21%
Over the past week, the trading activity at the LocalBitcoins p2p platform has increased by 21% — this is the largest jump since the summer of 2019.
The main contribution was made by Peru, Chile, Venezuela, Argentina, Egypt, Japan. Moreover, the latter three countries hit all-time-high weekly fiat trade volumes The situation occurs against the background of coronavirus quarantine. For example, banks closed in Venezuela yesterday, which caused an influx of users to cryptocurrency platforms.
Opinion: Ethereum hashrate to drop by 30%
Most of the mining devices for mining ETH will soon become useless due to the increasing DAG size, developer Kristy-Leigh Minehan says.
This can lead to a sharp drop by 20-30% in the computing power of Ethereum which will make the network vulnerable to reorganization attacks, and also complicate the work of decentralized applications, she said.
Before work, each mining device must download a DAG file, which increases every 30,000 blocks. Currently, its size is 3.52 GB, which no longer allows mining ETH on Nvidia GTX 1060 3 GB graphics cards. According to a blog post by 2miners, the popular ASIC Antminer E3 will become should stop mining as early as April 8th due to the file size growth.
March 25, 2020 at 7:23 am #119620AnonymousInactive
The U.S. Federal Reserve says they have “infinite amount of cash” — what’s the impact on bitcoin?
Why BTC will drop to $5,000
A “death cross” formed on the BTC price, a top-down intersection of 50-day and 200-day Moving Average. This will lead to a price drop down to $5,000, Coindesk analyst Omkar Godbole thinks.
However, the drop will not happen immediately: for example, in the spring of 2018 the “cross”, bitcoin price first went up by 50% in a month, and then declined by 70% within six months.
The scenario will be cancelled if BTC can consolidate above $6,460, the analyst writes. Godbole also notes that similar crosses are forming on the Dow Jones Industrial Average and S&P 500 industrial charts.
Peter Brandt: Bitcoin price will drop by 50%
Well-known trader Peter Brandt believes that BTC will drop below $3,000. Responding to a comment on Twitter, Brandt posted a chart with a “descending flag” figure – if implemented, the price will go to the level of $2,700.
The trader also indicated that having declined below $7,500, bitcoin price broke the long-term support line and moved into a downtrend. Earlier, the analyst said that bitcoin will drop to zero after breaking this level.
Opinion: cryptocurrency will benefit from the crisis
Unlimited amount of U.S. dollars will positively affect bitcoin, trader Joseph Young believes.
“Fed printing unlimited money to pump markets = good for bitcoin
Devaluation of dollar over the long term = good for bitcoin
Short-term may be gloomy for bitcoin, but long-term prospect of it remains very bright,” Young tweeted.
A similar opinion is shared by Stack analyst Lennard Neo. He expects an influx of capital into cryptocurrencies due to the uncertainty central banks and governments actions amid the crisis.
CEO of Titus Investment Advisors Justin Gillespie notes that quarantine will strengthen the position of cryptocurrency. According to him, “The longer the people can’t go outside to conduct their business, the more useful the cryptocurrency should become as it can be sent and received from the safety of one’s home.”
March 27, 2020 at 8:44 am #122243AnonymousInactive
Cash and сoronavirus: how to stay safe when dealing with banknotes and bank cards
During the pandemic, when it is of the utmost importance to be very careful about your health and follow good hygiene practice, BestChange team wishes to remind you the necessary precautionary measures when dealing with cash and bank cards.
We already wrote that cash is one of the dirtiest things in the world and a carrier of many diseases. Various microbes live on the banknotes for quite a long time – from one up to two months. Paper money has a lot of cellulose which is the perfect media for the development of bacteria. Plastic and metal money have much fewer microorganisms, and their life is much shorter.
Speaking about COVID-19 specifically, the virus stays up to 5 days on metal materials, 4 days on wood and glass. Paper exposed to coronavirus remained safe after 4-5 days, and the virus stays on plastic for no more than 5 days.
Besides coronavirus, many other bacteria can be found on banknotes: causing skin inflammation, microorganisms associated with the vaginal tract, Escherichia coli and staphylococcal bacteria can be found – they cause intestinal diseases. Besides bacteria, fungi spores and helminthiasis (simply put, worm infections) pathogens can be found on money.
Many infectious disease specialists around the world approve of decreasing the usage of cash in favor of contactless. However, please keep in mind that the direct contact between the bank card and the terminal or touching the terminal when pressing the PIN can be also dangerous in terms of contracting the infection.
We would like to remind you recommendations of WHO: wash your hands, do not touch your face when using cash. WHO does not say that cash must be totally avoided, but theoretically, it can be a channel to contract the virus.
Please remember, that the notion “dirty money” has a real basis behind it and before biting into a snack you have just purchased with some cash, remember what is at stake. Always thoroughly wash your hands or sanitize them after being in contact with cash or touching any surfaces in public spaces, including ATMs.
Modern problems require modern solutions, electronic money and cryptocurrency get another advantage as a safer payment means of the future.
BestChange team asks everyone to follow the advice of doctors and professionals, take care of yourself and your close ones and keep your spirits up!
March 27, 2020 at 1:27 pm #122523GlulpgapGuest
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April 1, 2020 at 3:20 am #129156AnonymousInactive
Cash turnover hits record high in the U.S. and altcoins mentions on Twitter drop to a minimum
USD banknote turnover hits a 20-year high
From March 11 to March 18, the turnover of cash dollars in the United States increased by $34 billion, shooting up from $1.809 trillion to $1.843 trillion.
This is the largest growth in the last 20 years, economist John Paul Coning points out: the U.S. citizens are withdrawing money from banks amid the coronavirus epidemic. Last time a similar situation was observed in 1999 when people were afraid of digital devices failure due to the “Y2K bug”
It is noteworthy that the current increase in cash circulation is happening despite the WHO recommendations to avoid contact with banknotes, as COVID-19 can be distributed through them.
Twitter’s altcoin mentions drop to a minimum
Twitter users now write about main altcoins less often – the number of mentions per day has dropped to a three-year low.
The number of posts about XRP has decreased by 60% in two months to 2,542. Ethereum was talked about slightly less — the number of tweets with the hashtag #ETH fell to 2,500, which has become the lowest engagement level since February 2017. For comparison: in December 2017, when the altcoin set a maximum price, the number of tweets about it exceeded 51,000.
Bitcoin’s “little brother” LTC has been completely forgotten —Twitter users mentioned the coin only 350 times a day. The popularity of BTC, on the contrary, has grown, its mentions have doubled since the end of January.
Small miners shutting off will help the price of bitcoin
Blockware CEO Matt D’Souza said. He analyzed the periods of decline of the network’s hash rate and noted that they were followed by a prolonged increase of cryptocurrency price. In his opinion, now the situation may be repeated.
At the moment, the computing power of the BTC blockchain has dropped to 93 EH/s. In mid-March, when the bitcoin exchange rate sank below $4,000, small miners were forced to turn off the equipment, which led to a sharp drop in the hash rate and the difficulty of mining cryptocurrency.
Matt D’Souza notes that this will benefit the price of bitcoin, as private miners quickly sold their coins to not work at a loss.
April 3, 2020 at 4:14 am #131700AnonymousInactive
Miners will start to switch off after the halving, and Bitstamp plans to expand its listing
Some miners will stop working after the halving
States a report by an analytic company Coin Metrics. Despite the fact that Bitcoin price has recovered to the level of $6,300, for many miners the breakeven point is higher than that.
“We expect miners to follow a cycle of decreased profit margins, increased selling, capitulation, and a culling of the least efficient miners from the network. Once this cycle is complete, the miner industry should return to a healthier state that is supportive of future price increases,” the analysts say,
Last week, Bitcoin mining complexity fell by a record 16%, according to BTC.com forecasts, after the next eight-day cycle, it will decrease by another 12%. This will also reduce the profitability of mining for inefficient equipment, according to Coin Metrics.
Bitstamp may launch trading Ethereum Classic, Zcash and Stellar
Bitstamp, one of the first European cryptocurrency exchanges, is considering listing Ethereum Classic (ETC), Stellar Lumens (XLM), Zcash (ZEC), Basic Attention Token (BAT), Paxos Standard (PAX), USD Coin (USDC) and 0x (ZRX).
The platform’s specialists will thoroughly study the technical characteristics of these cryptocurrencies, as well as their compliance with the security requirements of the exchange and the legislation of some countries. It is worth noting that Bitstamp is extremely cautious about listing coins. Currently, only five crypto assets are traded on the platform: Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash.
Cryptocurrency trading volume on exchanges increased by 60%
Trade turnover at 22 popular crypto platforms grew by 61% in Q1 of 2020, according to the report of The Block media.
In the last quarter of 2019, the figure was $96 billion, and currently, it has increased to $154 billion — almost the same level as in Q3 of last year.
The volume of transactions in the Bitcoin network increased by 11% to $ 178 billion, while the amount of commissions remained virtually unchanged at $20.12 million. The average BTC block size has slightly increased: from 1.14 MB to 1.17 MB. In January, the share of SegWit transfers exceeded 70%, and the number of public Lightning channels increased by 3%.
April 7, 2020 at 8:16 am #137662AnonymousInactive
Bitcoin is again trading above $7,000, and the ETH exchange balance reaches its maximum since 2016
Bitcoin has gone up to $7,000
BTC price today has gone over the mark of $7,100 —over the past 24 hours, cryptocurrency has strengthened by 5%.
Since March 13, bitcoin has grown in price by more than 80%. Most of the crypto assets from TOP-20 also added in value: Stellar (11.69%), TRON (9.51%) and Ethereum (6.42%) have demonstrated the highest growth.
Earlier we noted that the capitalization of the USDT stablecoin exceeded $6 billion for the first time. A number of analysts attribute the increase of the number of Tether tokens to the rise in bitcoin price.
ETH exchange balance reaches its maximum since 2016
Since the end of last year, the volume of ethereum stored on trading platforms has increased by 21% to 18.187 million ETH.
According to Glassnode, this is the highest level since December 2016 and it accounts for 16% of all circulating coins. Interestingly, the indicator is inversely correlated with the price of ETH. Thus, for 12 months from December 2016, Ethereum has risen in price from $6 to $ 1,350 — at the same time, the cryptocurrency exchange balance has decreased from 18 to 8 million coins.
On March 13, the ETH price fell to $95, which was the lowest since December 2018. Now the coin is trading near the $154 mark.
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April 10, 2020 at 8:23 am #139592AnonymousInactive
Bitcoin Cash undergoes halving
On April 8, in the Bitcoin Cash network block reward was halved. It was reduced from 12.5 BCH to 6.25 BCH at block height 630’000. The night before halving, the coin went up from $251 to $275, but today it has again dropped in price to $257. In about 12 hours, halving of Bitcoin SV, another fork of the first cryptocurrency, will happen. According to BSV developer Bat Jasper, this will negatively affect cryptocurrency as it will make its mining less profitable than mining bitcoin. We would like to remind that halving in the network of BTC itself is expected on May 13, the reward will drop from 12.5 BTC to 6.25 BTC.
U.S. national debt hits a record $24 trillion
According to Trading Economics, the U.S. public debt is currently $24.018 trillion. It grew by an additional $4 trillion over 4 years under Donald Trump. The sharp increase of this figure was caused by the U.S. Federal Reserve program to support the economy during the financial crisis brought about by coronavirus. The regulator intends to print $6 trillion worth of banknotes. Earlier, TV presenter Max Kaiser called the dollar “debt coupons,” and popular writer Robert Kiyosaki called for investing in bitcoin and gold: “IF US Debt to GDP ratio 60% world sound. Today US Debt to GDP 110% and climbing. US bankrupt”, he tweeted.
The number of ETH addresses has exceeded 70 million
The number of addresses in the Ethereum network has reached 70 million, the Glassnode service draws attention.The figure began to sharply grow in November 2017 before the coin set a price record of $1,300. Since that time, the cost of ETH was mostly falling and today it is $171. Despite this, the number of addresses has increased 8.2 times since November 2017. The number of active addresses in March was about 230 thousand – the figure correlates with the price of ethereum. The maximum at the level of 715 thousand was set in January 2018, when the cryptocurrency price reached a historical record.
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April 15, 2020 at 9:34 am #146057AnonymousInactive
China has published a new cryptocurrency rating
Bitcoin is only ranked 14th in the rating. BTC has lost three more positions, giving way to Cosmos (ATOM), Stellar (XLM) and Dash. TOP 3 remains the same since the February ranking: EOS is in the first place, followed by TRON and Ethereum. Lisk, IOST, NULS, Qtum, NEO, XLM and Dash are in top ten. This is already the seventeenth evaluation made by the China-based Ministry of Industry and Information Technology (CCID). Projects are evaluated on three parameters: basic technology, applicability and creativity.
Binance exchange launches mobile bitcoin options
Binance, one of the largest cryptocurrency exchange services, announced launching bitcoin options. The function is only available in the latest version of the exchange’s mobile app. At the moment, users can trade bitcoin options paired with USDT – in the future, the platform plans to expand the list of instruments. Binance chose the American version of options in which the deal can be closed before the contract expiry date. The exchange’s statement states that their options provide “a shorter time frame compared to traditional options”, ranging from 10 minutes to 1 day.
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