For virtual currency investors, the more important question is whether this round of currency price rises is a restart of the bull market or a bear market trap.

Yesterday evening, Bitcoin experienced a soaring price in just one hour. The price rose from the violence of about 6,800 U.S. dollars to a maximum of 8,100 U.S. dollars. It rose by nearly 20% during the day. Under the leadership of Bitcoin, other virtual currencies also ushered in a strong rebound, with single currency gains even exceeding 50%. Faced with the collective warming of the virtual currency market, many investors shouted that “the bull market is back.”

According to data from the CoinMarketCap website, Bitcoin’s market value increased by nearly 20 billion U.S. dollars within a day, and the entire virtual currency market also experienced general market growth. There was no “seeking” effect. According to the daily transaction volume of Bitcoin exceeding 9 billion U.S. dollars, there should be billions of incremental funds entering the market yesterday, instead of stock funds.

In fact, in the time of the booming of Bitcoin, Bitfinex, a digital currency trading platform, also recorded a number of large purchases. With the increase in buying Bitcoins, many shorts were forced to close their positions, further expanding the market’s upward trend. For this phenomenon, Nick Kirk, data director of Cypher Capital, also expressed his approval. At the same time, he also believes that this sharp rebound is more likely to be the response to the release of early regulatory … Read more

Bitcoin… Monetary Nirvana?

If you don’t know what Bitcoin is, do a bit of research on the internet, and you will get plenty… but the short story is that Bitcoin was created as a medium of exchange, without a central bank or bank of issue being involved. Furthermore, Bitcoin transactions are supposed to be private, that is anonymous. Most interestingly, Bitcoins have no real world existence; they exist only in computer software, as a kind of virtual reality.

The general idea is that Bitcoins are ‘mined’… interesting term here… by solving an increasingly difficult mathematical formula -more difficult as more Bitcoins are ‘mined’ into existence; again interesting- on a computer. Once created, the new Bitcoin is put into an electronic ‘wallet’. It is then possible to trade real goods or Fiat currency for Bitcoins… and vice versa. Furthermore, as there is no central issuer of Bitcoins, it is all highly distributed, thus resistant to being ‘managed’ by authority.

Naturally proponents of Bitcoin, those who benefit from the growth of Bitcoin, insist rather loudly that ‘for sure, Bitcoin is money’… and not only that, but ‘it is the best money ever, the money of the future’, etc… Well, the proponents of Fiat shout just as loudly that paper currency is money… and we all know that Fiat paper is not money by any means, as it lacks the most important attributes of real money. The question then is does Bitcoin even qualify as money… never mind it being the money of … Read more

Distinction between Bitcoin and Currency of Central Banks

What is the difference between central bank authorized currency and Bitcoin? The bearer of central bank authorized currency can merely tender it for exchange of goods and services. The holder of Bitcoins cannot tender it because it’s a virtual currency not authorized by a central bank. However, Bitcoin holders may be able to transfer Bitcoins to another account of a Bitcoin member in exchange of goods and services and even central bank authorized currencies.

Inflation will bring down the real value of bank currency. Short term fluctuation in demand and supply of bank currency in money markets effects change in borrowing cost. However, the face value remains the same. In case of Bitcoin, its face value and real value both changes. We have recently witnessed the split of Bitcoin. This is something like split of share in the stock market. Companies sometimes split a stock into two or five or ten depending upon the market value. This will increase the volume of transactions. Therefore, while the intrinsic value of a currency decreases over a period of time, the intrinsic value of Bitcoin increases as demand for the coins increases. Consequently, hoarding of Bitcoins automatically enables a person to make a profit. Besides, the initial holders of Bitcoins will have a huge advantage over other Bitcoin holders who entered the market later. In that sense, Bitcoin behaves like an asset whose value increases and decreases as is evidenced by its price volatility.

When … Read more

The price of bitcoin skyrocketed in the year 2017. Coinbase, one of the world’s largest cryptocurrency exchanges, was in the right place at the right time to capitalize on the spike in interest. Even so, Coinbase isn’t interested in taking its crypto gains for granted. To stay ahead in a much larger cryptocurrency market, the company is plowing money back into their master plan. Up until 2017, the company’s revenue was reported at $1 billion and over $150 billion of assets were traded across 20 million customers.

Coinbase, a San Francisco based company, is known as the leading cryptocurrency trading platform in the United States and with its continued success, landed at the No. 10 spot on the CNBC Disruptor list in 2018 after failing to make the list the previous two years.

On their path to success, Coinbase has left no stone unturned in poaching key executives from New York Stock Exchange, Twitter, Facebook, and LinkedIn. In the current year, the size of its full-time engineering team has almost doubled.

Earn.com was bought by Coinbase this April for $100 million. This platform allows the users to send and receive digital currency while replying to mass market emails and completing micro tasks. Currently, the company is planning to bring a former Andreessen Horowitz venture capitalist, Earns founder and CEO as its first-ever chief technology officer.

According to current valuation, Coinbase valued itself at about $8 billion when it set out to buy Earn.Com. This value is much higher than the … Read more

Bitcoin Mining is the act of verifying transactions that take place on each and every Blockchain. This gives validity to every transaction and then shares the transaction publicly across the peer-2-peer network for all to see. Bitcoin miners are the people responsible for the verification and valediction of each transaction before it is added to a block to create a blockchain. Once a miner places the next block on the blockchain, he/she can claim a reward which is usually in form of bitcoins. The more the mathematical calculations you solve, the more the reward.

You do not need to be a professional software developer or coder so as to take part in Bitcoin mining. Below is an easy to follow step by step guide for a Bitcoin mining beginner.

Get a Bitcoin Mining Hardware

Bitcoin mining hardware
The mining world is becoming more and more complex as higher computation power is employed in mining. The higher the mining level the more difficult it is to get profits as the investment in hardware is so high. Bitcoin mining is very competitive and you need to do adequate research before investing in a hardware. Earlier on it was possible to use your personal CPU to mine Bitcoins but with the complexity in mining, this method is no longer viable. You need to buy a specially built computer whose main purpose is bitcoin mining.

Acquire a Bitcoin Wallet

Bitcoin Wallet
You need to have a wallet which is either local or online based … Read more

A Speedy Comparison Amongst Crypto Forex, Gold, and Bitcoin

In some areas, gold would seem to have much more essential place in the money earth. On the other hand, some people today get started to see Bitcoin as a legitimate process to maintain our financial savings.

This makes it possible for us to shop and perform other each day transactions. For common buyers, Bitcoin & other crypto-currency would seem to offer a applicable different. It is in all probability a very good time to make a comparison concerning gold and Bitcoin and Ethereum (other crypto-currency)..

Individuals have been employing gold as a variety of forex given that millennia back when Bitcoin has been close to only just over a decade. Even though the strategy has absent by means of some maturing course of action, gold nonetheless has a pervasive influence in the sector. Bitcoin promises steady improvements in benefit, security and functionality. Authorities have as opposed the existing point out of Bitcoin with the Net in the early and mid 1990’s. Proponents of Bitcoin argue that approximately all developments related to gold have currently took place as seen by the mass acceptance of any physical gold bullion items considering the fact that a millennia in the past. In fact, some firm acquisitions have been undertaking employing gold as currency. They just don’t rely on that the govt is not going to go into hyper inflation.

The plan of gold vs . Bitcoin is an significant argument really worth shelving. Relatively … Read more