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How to Buy Bitcoin – Step One

The best way to learn about bitcoin, is to jump in and get a few in your “pocket” to get a feel for how they work.

Despite the hype about how difficult and dangerous it can be, getting bitcoins is a lot easier and safer than you might think. In a lot of ways, it is probably easier than opening an account at a traditional bank. And, given what has been happening in the banking system, it is probably safer too.
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There are a few things to learn: getting and using a software wallet, learning how to send and receive money, learning how to buy bitcoin from a person or an exchange.
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Preparation

Before getting started, you will need to get yourself a wallet. You can do this easily enough by registering with one of the exchanges which will host wallet for you. And, although I think you are going to want to have one or more exchange wallets eventually, you should start with one on your own computer both to get a better feel for bitcoin and because the exchanges are still experimental themselves. When we get to that stage of the discussion, I will be advising that you get in the habit of moving your money and coins off the exchanges or diversifying across exchanges to keep your money safe.
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What is a wallet?

It is a way to store your bitcoins. Specifically, it is software that has been designed to store bitcoin. It can be run on your desktop computer, laptop, mobile device (except, as yet, Apple) and can also be made to store bitcoins on things like thumb drives. If you are concerned about being hacked, then that is a good option. Even the Winklevoss* twins, who have millions invested in bitcoin, put their investment on hard drives which they then put into a safety deposit box.
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*The Winklevoss twins are the ones who originally had the idea for a social networking site that became Facebook. They hired Mark Zuckerberg who took their idea as his own and became immensely rich.
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What do you need to know about having a bitcoin wallet on your computer?

Below you can download the original bitcoin wallet, or client, in Windows or Mac format. These are not just wallets, but are in fact part of the bitcoin network. They will receive, store, and send your bitcoins. You can create one or more addresses with a click (an address is a number that looks like this: 1LyFcQatbg4BvT9gGTz6VdqqHKpPn5QBuk). You will see a field where you can copy and paste a number like this from a person you want to send money to and off it will go directly into that person’s wallet. You can even create a QR code which will let someone take a picture with an app on their phone and send you some bitcoin. It is perfectly safe to give these out – the address and QR code are both for my donations page. Feel free to donate!
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NOTE: This type of wallet acts both as a wallet for you and as part of the bitcoin system. The reason bitcoin works is that every transaction is broadcast and recorded as a number across the entire system (meaning that every transaction is confirmed and made irreversible by the network itself). Any computer with the right software can be part of that system, checking and supporting the network. This wallet serves as your personal wallet and also as a support for that system. Therefore, be aware that it will take up 8-9 gigabytes of your computer’s memory. After you install the wallet, it will take as much as a day for the wallet to sync with the network. This is normal, does not harm your computer, and makes the system as a whole more secure, so it’s a good idea.
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Bitcoin Qt

  • The original wallet.
  • This is a full-featured wallet: create multiple addresses to receive bitcoins, send bitcoins easily, track transactions, and back up your wallet.
  • Outside of the time it takes to sync, this is a very easy to use option.
  • Search for Bitcoin Qt wallet download to find their site.

Armory

  • Runs on top of Bitcoi Qt, so it has all of the same syncing requirements.
  • Armory allows you to back up, encrypt, and the ability to store your bitcoins off line.
  • Search for Bitcoin Armory Wallet to find their site.

If you don’t want to have that much memory used or don’t want to wait for your wallet to sync, there are good wallets that do not make you sync the entire history of bitcocin:

Multibit

  • A lightweight wallet that syncs quickly. This is very good for new users.
  • Search for Bitcoin Multibit Wallet to find their site.

Electum

  • In addition to being quick and light, this wallet allows you to recover lost data using a passcode.
  • Search for Bitcoin Electum Wallet to find their site.

After you get the wallet set up, take a few minutes clicking around. Things to look for:

o There will be a page that shows you how many bitcoins are currently in your wallet. Keep in mind that bitcoins can be broken up into smaller pieces, so you may see a decimal with a lot of zeros after it. (Interesting note, 0.00000001 is one Satoshi, named after the pseudonymous creator of bitcoin).

o There will be an area showing what your recent transactions are.

o There will be an area where you can create an address and a QR code (like the one I have above). You don’t need the QR code if you don’t want it, but if you run a business and you want to accept bitcoin, then all you’ll need to do to accept payment is to show someone the QR code, let them take a picture of it, and they will be able to send you some money. You will also be able to create as many addresses as you like, so if you want to track where the money is coming from, you could have a separately labeled address from each one of your payees.
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o There will be an area with a box for you to paste a code when you want to send money to someone or to yourself on an exchange or different wallet.
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There will be other options and features, but to start out with, these are the items that you should know about.

Getting Your First Bitcoins

Now that you have a wallet, you will, of course, want to test them out.

The very first place to go is http://faucet.bitcoin.st/.

This is a website that gives out small amounts of bitcoin for the purpose of getting people used to using them. The original version of this was run by the lead developer of bitcoin, Gavin Andreson. That site has since closed and this site operates by sending out one or two advertisements a month. You agree to receive those messages by requesting the bitcoins. Copy and paste your new bitcoin address and enter a phone number to which you can receive an SMS. They send out an SMS to be sure that people are not continuously coming back for more since it costs nothing to create a bitcoin address. They will also send out once or twice a month advertisement to support their operation. The amount they send it trivial: 0.0015 BTC (or 1.5 mBTC). However, they process almost immediately and you can check to see that your address and wallet are working. It is also quite a feeling to get that portion of a bitcoin. (Non-disclaimer: I have no connection with this site and receive nothing if you use them. I simply think they are a good way to get your feet wet).
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Congratulations! You have just entered the bitcoin economy.

To get your feet a little wetter, you can go panning for gold. There are a number of services and websites out there that will pay you in bitcoin to do things like go to certain websites, fill out online surveys, or watch sponsored videos. These are harmless, and you can earn a few extra bitcoins this way, but it is important to remember that these are businesses that get paid when people click on the links on their sites. They are essentially kicking back a portion of what they get paid to you. There is nothing illegal, or even immoral about this (you might like what you see and make a purchase!), but they are frequently flashy and may not be completely straightforward. All the ones that I have tried (particularly bitvisitor.com) have paid out as advertised. It is interesting to experiment with these, but even with the likely rise in the value of bitcoin, you won’t become a millionaire doing this. So, unless you are an advertisement junkie, I would recommend you move on. If you would like to try, simply Google “free bitcoins” or something along those lines and you will find numerous sites.
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Buying Bitcoin Hand-to-Hand

Finally, this is going to be the real test of bitcoin. Can people easily trade them back and forth? If this can’t happen, then there can’t really be a bitcoin economy because retailers won’t be able to use it. If retailers can’t use it, what earthly good is it? Fortunately, this is not really a problem. iPhone is a bit of a hold out, but many smartphones have apps (mobile wallets) that will read QR codes and allow you to send bitcoin to whomever you want. You can also display a QR code of your address, or even carry a card in your wallet with your QR code to let people send bitcoin to you. Depending on what kind of wallet you have, you can then check to see if the bitcoins have been received.
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A couple of things to note:

  • When you set up your wallet, if you click around a bit, you will see an option to pay a fee to speed transactions. This money becomes available to a bitcoin miner as he/she/they process bitcoin information. The miners doing the work of creating blocks of information keeps the system up to date and secure. The fee is an incentive to the miner to be sure to include your information in the next information block and therefore “verify” it. In the short term, miners are making most of their money by mining new coins (check the section on What Are Bitcoins for more information about this). In the long term, as it gets harder to find new coins, and as the economy increases, the fees will be an incentive for miners to keep creating more blocks and keep the economy going. Your wallet should be set to pay 0 fees as a default, but if you want, you can add a fee to prioritize your transactions. You are under no obligation to pay a fee, and many organizations that process many small transactions (like the ones that pan for gold described above) produce enough fees to keep the miners happy.
  • In clicking around your wallet, on the transactions page or linked to specific transactions, you will see a note about confirmations. When you make a transaction, that information is sent out into the network and the network will send back a confirmation that there is no double entry for that bitcoin. It is smart to wait until you get several confirmations before walking away from someone who has paid you. It is actually not very easy to scam someone hand-to-hand like this, and it is not very cost-effective for the criminal, but it can be done.

Where can you buy bitcoin like this?

  • You may have a bitcoin Meetup in your area.
  • You can check out localbitcoins.com to find people near you who are interested in buying or selling.
  • Some are trying to start up local street exchanges across the world. These are called Buttonwoods after the first street exchange established on Wall Street in 1792 under a buttonwood tree. See if there is one, or start one, in your area.
  • See if you have any friends who would like to try bitcoins out. Actually, the more people who start using bitcoin, the larger and more successful it will be come. So please tell two friends!

Some people ask if it is possible to buy physical bitcoins. The answer to this is both a yes and a no. Bitcoin, by its very nature, is a digital currency and has no physical form. However, there are a couple of ways that you can practically hold a bitcoin in your hands:

  • Cascascius Coins: These are the brainchild of Mike Caldwell. He mints physical coins and then embeds the private keys for the bitcoins inside them. You can get the private key by peeling a hologram from the coin which will then clearly show that the coin has been tampered with. Mike has gone out of his way to ensure that he can be trusted. These are a good investment strategy as in the years to come it may be that these coins are huge collector’s items.
  • Paper Wallets: A paper wallet just means that rather than keeping the information for your bitcoin stored in a digital wallet, you print the key information off along with a private key and keep it safe in a safe, in a drawer, or in your mattress (if you like). This is highly recommended and cost effective system for keeping your bitcoin safe. Keep in mind, though, that someone could steal them or if your house burns, they will go with the house and there will be no way to get them back. Really, no different than cash. Also, as with Casascius Coins, they will not really be good for spending until you put them back into the computer.

* There is software to make printing your paper wallets easier. bitcoinpaperwallet.com is one of the best and includes a good tutorial about how to use them.
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* The bitcoins are not actually in the wallet, they are still on the web. In fact, the outside of the wallet will have a QR code that will allow you ship coins to the wallet any time you like.

* The sealed part of the wallet will have the private key without which you cannot access the coins. Therefore, only put as many coins on the wallet as you want to be inaccessible. You will not be able to whip this thing out and take out a few coins to buy a cup of coffee. Rather, think of it as a piggy bank. To get the money, you have to smash it. It is possible to take out smaller amounts, but at this point the security of the wallet is compromised and it would be easier for someone to steal the coins. Better to have them all in or out.

* People who use paper wallets are usually security conscious, and there are a number of ways for the nefarious in the world to hack your computer. Bitcoinpaperwallet.com gives a lot of good advice about how to print your wallets securely.

Some people have also asked about buying bitcoins on eBay. Yes, it is possible, but they will be far overpriced. So, selling on eBay might seem to be a better option given the extreme markup over market value you might see. But, as with anything that is too good to be true, this is too good to be true. As I will explain in the next section, selling bitcoin this way is just way too risky.

How Not to Buy Bitcoin

In the next section, I am going to explain a couple of key points about buying from Bitcoin Exchanges. Before I do, let me give you a warning.

A short history lesson: When people first started setting up actual business based on bitcoin, they used all of the tools available to any merchant. They sold by credit card and PayPal. The problem with this business model was quickly spotted: bitcoin transactions are not reversible by anyone except the recipient of the money. Credit cards and PayPal have strong buyer protection policies that make it relatively easy for people to request a chargeback. So, nefarious individuals realized this and began making purchases of bitcoin and then sooner or later requesting a chargeback. And, since bitcoin is a non-physical product, sent by new and poorly understood technological means, the sellers were not able to contest this. Because of this, sellers stopped accepting credit cards and PayPal.

This was a big problem for the currency: How to move money between buyers and seller? Some business emerged that would credit you with bitcoin if you wired them money. Very often these businesses would give addresses in Albania, Poland, or Russia. The fact is that many of these did work and there are a lot of stories on the forums of people who bought bitcoins this way. But it took a lot of time and in the meantime the buyer just had to bite his or her fingernails wondering if they would get their bitcoins or kiss their investment goodbye.

I expect that as bitcoin becomes more acceptable and valuable, we are going to see a version of the Nigerian Prince scam. So the warning is this: we now have exchanges and other businesses that allow for moving money easily onto and off of exchanges. Never wire money for bitcoin. It was a short-lived, and well-forgotten, moment in the history of bitcoin.

Next, I will be talking about how to buy from a bitcoin exchange and give a review of the some of the best known exchanges.

What is blockchain?

Blockchain is an irrefutable inventive invention that is practically revolutionizing the global business market. Its evolution has brought with it a greater good not only for the business but also for its beneficiaries. But since it is a revelation to the world, the vision of its operational activities is still unclear. The main question on everyone’s mind is – What is Blockchain?

To begin with, Blockchain technology serves as a platform that allows the transit of digital information without the risk of copying. It somehow laid the foundation for a strong backbone of a new kind of internet space. Originally created to deal with Bitcoin – trying to explain to laymen the functions of its algorithms, hash functions and digital signature properties, today technology enthusiasts are finding other potential applications of this impeccable invention that could pave the way to the beginning of a whole new business process in the world.

Blockchain, by definition in all respects, is a type of algorithm and data distribution structure for managing electronic money without the intervention of any centralized administration, programmed to record all financial transactions as well as everything of value.

Blockchain work

Blockchain can be understood as a Distributed Ledger technology that was originally created to support the Bitcoin cryptocurrency. But after heavy criticism and rejection, the technology was retooled for use in more productive things.

To give a clear picture, imagine a spreadsheet that is practically magnified tons of times in multiple computing systems. And then imagine that these networks are designed to update this spreadsheet from time to time. That’s exactly what blockchain is.

The information stored in a blockchain is a shared sheet whose data is matched from time to time. This is a practical way that speaks of many obvious advantages. To be together, blockchain data does not exist in one place. This means that everything stored there is open to public inspection and inspection. Also, there is no centralized information storage platform that hackers can damage. In practice, it has access to over a million computing systems side by side, and its data can be viewed by anyone with an Internet connection.

Blockchain sustainability and authenticity

Blockchain technology is something that minimizes the internet space. It’s a chic, robust character. Similar to offering data to the general public via the World Wide Web, blocks of authentic information are stored on a blockchain platform that is equally visible across all networks.

It is important to note that blockchain cannot be controlled by a single person, entity or identity and has no single point of failure. Just as the Internet has proven to be a durable space for the past 30 years, blockchain will also serve as an authentic, trusted global stage for business transactions as it continues to evolve.

Transparency and incorruptible nature

Industry veterans argue that blockchain lives in a state of consciousness. In practice, it is checked from time to time. This is similar to a self-auditing technology where its network reconciles each transaction, known as a block, that occurs on board at regular intervals.

This gives birth to two main properties of the blockchain – it is very transparent and at the same time it cannot be damaged. Every transaction that takes place on this server is embedded in the network, making everything visible at all times to the public. Furthermore, editing or omitting blockchain information requires a huge amount of effort and strong computing power. Against this backdrop, frauds can be easily identified. Therefore, he is called incorruptible.

Blockchain users

There is no set rule or regulation on who should or can use this flawless technology. Although its potential users are currently only banks, trading giants and global economies, the technology is also open to everyday transactions of the general public. The only drawback blockchain faces is global adoption.

Why is blockchain technology important?

Let’s say a new technology is developed that can allow many parties to enter into a real estate transaction. The parties meet and work out the details regarding timing, special circumstances and financing. How will these countries know they can trust each other? They will need to check their agreement with third parties – banks, legal teams, state registration, etc. This puts them back to square one in terms of using technology to save costs.

In the next stage, third parties are now invited to join the real estate deal and provide input as the deal is created in real-time. This significantly reduces the role of the intermediary. If the deal is so transparent, the middleman can even be eliminated in some cases. Lawyers are there to prevent misunderstandings and lawsuits. If the conditions are disclosed in advance, these risks are greatly reduced. If financing arrangements are secured in advance, it will be known in advance that the transaction will be paid for and the parties will meet their payments. This brings us to the final stage of the example. If the deal terms and conditions are met, how will the deal be paid for? The unit of measure will be currency issued by a central bank, which means dealing with the banks again. If this were to happen, the banks would not allow these transactions to be completed without some sort of due diligence on their part, and that would mean costs and delays. Has technology been useful in creating efficiencies so far? Not likely.

What is the solution? Create a digital currency that is not only as transparent as the transaction itself, but is actually part of the terms of the transaction. If this currency is interchangeable with currencies issued by central banks, the only remaining requirement is to convert the digital currency into a well-known currency such as the Canadian dollar or the US dollar, which can be done at any time.

The technology referred to in the example is blockchain technology. Trade is the backbone of the economy. A major reason money exists is for trade purposes. Trade makes up a large percentage of activity, production and taxes for different regions. Any savings in this area that could be applied worldwide would be very significant. As an example, look at the idea of ​​free trade. Before free trade, countries imported and exported with other countries, but they had a tax system that taxed imports to limit the effect foreign goods had on the domestic country. After free trade, these taxes were removed and many more goods were produced. Even a small change in trade rules had a big effect on world trade. The word commerce can be broken down into more specific areas such as shipping, real estate, import/export and infrastructure, and it is more obvious how lucrative blockchain is if it can save even a small percentage of costs in these areas.

Planning to trade Monero cryptocurrency? Here are the basics to get you started

One of the primary mandates of blockchain technology is to provide users with unwavering privacy. Bitcoin as the first ever decentralized cryptocurrency relied on this premise to market itself to a wider audience that then needed a virtual currency that was free from government interference.

Unfortunately, along the way, Bitcoin has been riddled with several weaknesses, including a lack of scalability and a volatile blockchain. All transactions and addresses are recorded on the blockchain, making it easy for anyone to connect the dots and reveal users’ personal data based on their existing records. Some government and non-government agencies are already using blockchain analytics to read data into the Bitcoin platform.

Such shortcomings have led to developers looking for alternative blockchain technologies with improved security and speed. One of these projects is Monero, commonly represented by the XMR ticker.

What is Monero?

Monero is a privacy-oriented cryptocurrency project whose main goal is to provide better privacy compared to other blockchain ecosystems. This technology protects users’ information through hidden addresses and Ring signatures.

A stealth address refers to creating a single address for a solo transaction. No two addresses can be attached to one transaction. The resulting coins go to a completely different address, making the whole process unclear to an outside observer.

Ring signature, on the other hand, refers to mixing account keys with public keys, thus creating a “ring” of multiple signers. This means that a monitoring agent cannot associate a signature with a specific account. Unlike cryptography (a mathematical method for securing crypto projects), ring signature is not a new kid on the block. Its principles were researched and recorded in a 2001 report by the Weizmann Institute and MIT.

Cryptography has certainly won the hearts of many blockchain developers and fans, but the truth is that it is still a nascent tool with a handful of applications. Since Monero uses Ring’s already tested signature technology, it stands out as a legitimate project worth adopting.

Things you need to know before you start trading Monero

The Monero Market

The Monero market is similar to that of other cryptocurrencies. If you want to buy it then Kraken, Poloniex and Bitfinex are some of the exchanges you should visit. Poloniex was the first to adopt it, followed by Bitfinex and finally Kraken.

This virtual currency most often seems to be pegged to the dollar or against other cryptocurrencies. Some of the available pairs include XMR/USD, XMR/BTC, XMR/EUR, XMR/XBT and many more. The trading volume and liquidity of this currency record very good statistics.

One of the good things about XMR is that anyone can participate in mining either as an individual or by joining a mining pool. Any computer with significantly good processing power can mine Monero blocks with a few hiccups. Don’t bother choosing ASICS (Application Specific Integrated Circuits) which are currently mandatory for Bitcoin mining.

Price volatility

While it’s a great cryptocurrency network, it’s not that special when it comes to volatility. Virtually all altcoins are extremely volatile. This should not worry any keen trader as this factor is what makes them profitable in the first place – you buy when prices are falling and sell when they are in an uptrend.

In January 2015, XMR was trading at $0.25, then made a notable jog to $60 in May 2017 and is currently hovering above the $300 mark. Monero coin recorded its ATH (all-time high) of $475 on January 7, before starting to fall along with other cryptocurrencies to $300. At the time of writing, virtually all decentralized currencies are in a price correction phase, with Bitcoin hovering between $10-11k from its glorious ATH of $19,000.

Substitutability and adoption

Due to its ability to offer reliable privacy, XMR has been adopted by many people who make their coins easily exchangeable for other currencies. In simple words, Monero can easily be exchanged for something else.

All bitcoins on the bitcoin blockchain are recorded, and therefore when an incident such as a theft occurs, every coin involved will be decommissioned, making them irreplaceable. With monero, you cannot tell one coin from another. Therefore, no seller can reject any of them because it is related to a bad incident.

Currently, the Monero blockchain is one of the trendiest cryptocurrencies with a significant following. Like most other blockchain projects, its future looks great despite looming government crackdowns. As an investor, you should do your due diligence and research before trading any cryptocurrency. Whenever possible, seek help from financial experts to get you on the right track.

A Beginner’s Guide to Owning Bitcoin Cryptocurrency

Bitcoin cryptocurrency is spreading all over the world whether you are on the internet or any other media. This is one of the most exciting and craziest things to happen in just the last few years. More importantly, you can earn great returns by trading Bitcoin or you can keep it for the long term.

You may have heard about stocks, commodities, forex, and now a new currency called bitcoin trading that is greatly affecting our lives. In this beginner’s guide to Bitcoin cryptocurrency, you will be introduced to the Bitcoin alphabet.

About bitcoin cryptocurrency

The origin of Bitcoin is still unknown, but in October 2008, an article was published under the pseudonym Satoshi Nakamoto, held by Japan. His identity is still unknown and he is believed to own approximately one million bitcoins worth over $6 billion as of September 2017.

Bitcoin is a digital currency known as cryptocurrency and is free from any geographical boundaries. It is not regulated by any government and all you need is an internet connection. As a beginner, Bitcoin technology can be confusing and a bit difficult for you to know about. However, I will help you understand more deeply and how you can make your first Bitcoin trade with peace of mind.

The Bitcoin cryptocurrency works on blockchain technology, which is a digital public ledger and is shared by everyone in the world. You will find your transactions here when you do any bitcoin trade and anyone can use the ledger to verify them. The transaction made will be fully transparent and verified by blockchain. Bitcoin and other cryptocurrency are part of blockchain and are a great technology that only works on the internet.

Key Terms Related to Bitcoin Cryptocurrency

Before you are ready to own your first bitcoin, it is better to know the basic terms related to bitcoins. It is also called as BTC which is part of Bitcoin and 1 Bitcoin is equal to 1 million bits. With the advent of Bitcoin, some other alternative cryptocurrencies have also developed. These are popularly called altcoins and include Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Monero (XMR) and many others.

XBT and BTC are the same thing and are usually abbreviated to bitcoin. Mining is another commonly used term and is actually a process performed by computer hardware for the Bitcoin networks.

Things you can do with Bitcoin

You will be able to trade, transact, receive and store bitcoins. You can send it to your friends, request a friend and store it in your digital wallet. Even now you can recharge your mobile/DTH directly by paying through Bitcoin.

The transaction cost is low compared to PayPal, credit cards and other online intermediaries. Moreover, it also protects your privacy which can be leaked on the internet while using credit cards. It is extremely secure and no one can confiscate or steal coins. Due to its transparency in the system it is also not possible to manipulate due to the shared public ledger. You can confirm the transaction from anywhere and at any time.

Demand is likely to increase as the total production of Bitcoins will be limited to only 21 million. Japan has already legalized it and other countries may follow soon and the price may rise even more.

I will cover more about Bitcoin in detail in the coming days where you will learn great things about Bitcoin trading. You can comment your opinions and ask anything related to Bitcoin.

If you found this Bitcoin Cryptocurrency Beginners Guide useful, please share and like it on social media.

Cryptocurrency – the future of money

What is Bitcoin?

Answer: Bitcoin is a digital product (payment method/currency/commodity/digital gold) that was created in 2009.

Who Owns Bitcoin?

Answer: Bitcoin is a network. It is not owned by a single person or bank. The creator of Bitcoin is called Satoshi Nakamodo.

How does the value of Bitcoin grow?

Answer: There are many factors that determine the value of Bitcoin, below are the main two factors that influence its growth after its IPO:

1. One factor is the usability of the coin – Bitcoin has over 250,000 merchants, the more Bitcoin is accepted and used globally, the more its value increases.

2. Supply and Demand – Only 21 million bitcoins can be generated, but demand is increasing. This has a positive effect on the value of Bitcoin. There are other factors that affect the price of Bitcoin, below I will mention a few government regulations, media influence, greater adoption, technological changes and advancements, approvals.

How does bitcoin work?

Answer: Bitcoin is an internet based currency that guarantees financial independence. Used and traded the smart way; using your smartphone or computer. It’s like having your own bank in your pocket.

Is Bitcoin the only digital product?

Answer: Bitcoin is not the first as the 700 other digital currencies have been created and are used/accepted globally. However, Bitcoin is the GOLD standard of digital products. He is the one who has the most trust. To buy another digital currency, you must first buy Bitcoin.

Can Bitcoin be converted to normal local currency?

Answer: Yes and now you can go to an ATM on site and buy Bitcoin or withdraw local currency.

What is Bitcoin Trading?

Answer: Trading simply means buying low and selling high. The same concept applies to Bitcoin trading, we have an intelligent system that monitors the Bitcoin market 24 hours a day and automatically picks up when Bitcoin goes down, then up, the system buys and sells FOR YOU on YOUR behalf. The result is that you earn healthy daily.

You get paid in BITCOINS!

What are the returns/profits on this investment?

Answer: All profits are made in Bitcoins. This expansion is through our trading operations and profits are generated daily. Based on each amount invested over a period of 8 – 12 months, the profits will be on average 70% to 90% in the form of Bitcoins. Given the fact that Bitcoin prices increase over time as demand increases, the profits in fiat currency will be even higher.

What are the benefits of telling family and friends?

Answer: We encourage our investors to share their experience with their business circle. Each referral referral will guarantee a commission of 10% of the amount invested

How will profits be paid out to investors?

Answer: Profits will be generated on a daily basis but can be shared on a weekly or monthly basis as per requirement and can be transferred to the investor’s bank account. The main winnings are in the form of bitcoins, but we will convert these winnings to fiat currency according to the market value for transfer.

Blockchain & IoT – How "Crypto" It will likely move to Herald Industry 4.0

Although most people only started learning about “blockchain” thanks to Bitcoin, its roots – and applications – go much deeper than that.

Blockchain is a technology in itself. It powers Bitcoin and is essentially the reason *so many* new ICOs flood the market – creating an “ICO” is ridiculously easy (no barriers to entry).

The aim of the system is to create a decentralized database – which essentially means that instead of relying on “Google” or “Microsoft” to store data, a network of computers (usually run by individuals) can act in the same way as a larger company.

To understand the implications of this (and therefore where the technology might take the industry) – you need to look at how the system works at a fundamental level.

Created in 2008 (1 year before Bitcoin), it is an open source software solution. This means that its source code can be downloaded and edited by anyone. However, it should be noted that the central “repository” can only be changed by specific individuals (so the “development” of the code is not a free-for-all in principle).

The system works with what is known as a merkle tree – a type of data graph that was created to provide access to versioned data on computer systems.

Merkle trees have been used to great effect in a number of other systems; most notably “GIT” (source code management software). Without getting too technical, it basically stores a “version” of a dataset. This version is numbered and thus can be loaded whenever a user wishes to recall its older version. In the case of software development, this means that a set of source code can be updated across multiple systems.

The way it works – which is to store a huge ‘file’ of updates to a central data set – is basically what powers systems like Bitcoin and all other ‘crypto’ systems. The term “crypto” simply means “cryptographic,” which is the technical term for “encryption.”

Regardless of its main work, the real benefit of wider adoption “on the chain” is almost certainly the “paradigm” it provides to the industry.

An idea called “Industry 4.0” has been floating around for several decades. Often associated with the Internet of Things, the idea is that a new layer of “autonomous” machines can be introduced to create even more efficient production, distribution and delivery techniques for businesses and consumers. Although this was often mentioned, it was never really accepted.

Many experts are now looking to technology as a way to facilitate this change. The reason is that the interesting thing about “crypto” is that – as is particularly evident with the likes of Ethereum – the various systems that are built on top of it can actually be programmed to operate with a layer of logic.

This logic is really what IoT / Industry 4.0 has missed so far – and why many are looking to “blockchain” (or equivalent) to provide a base-level standard for new ideas moving forward. This standard will give companies the ability to create “decentralized” applications that enable intelligent machines to create more flexible and efficient manufacturing processes.

Keeping up with Bitcoin

Bitcoin is a cyber currency that has received a lot of media attention over the past few years and continues to do so. Bitcoin was created by an anonymous group or individual in 2009 who used the pseudonym Satoshi Nakamoto, after whom the smallest unit of Bitcoin currency is named. It is the first and perhaps the most widely known cryptocurrency. Originally of interest only to the Internet elite, Bitcoin has gained greater appeal in recent years and commands respect in its own right as a foreign currency.

How does bitcoin work?

The finer details of how Bitcoin works can be difficult to understand because it is not centrally controlled like conventional currency, but instead each transaction is collectively approved by a network of users. There are no coins and notes or bullion held in a vault, but the supply of Bitcoin is limited and will stop at 21 million. Every 10 minutes 25 Bitcoins are discovered by Bitcoin “miners” and every 4 years the number of Bitcoins released will be halved until the limit is reached. This means that there will be no more bitcoins released after 2140.

Why do I need Bitcoin News?

Historically, the price has been very volatile, with significant peaks and troughs at intervals. Recently, the price of one bitcoin jumped more than 10 times in just two months. In 2013, several bitcoin millionaires became overnight when the value of their bitcoin wallets increased dramatically. If you’re already holding some Bitcoins in your digital wallet or thinking of dipping a toe in the water, then you really need to keep up with Bitcoin news. Bitcoin trading is an increasingly popular alternative or supplement to conventional forex trading and is growing in support as more brokers take the plunge.

Despite the gradually decreasing rate of Bitcoin discovery, interest in Bitcoin news continues. There is a real and constant demand for up-to-date, reliable information about its value. Bitcoin has received a strong endorsement from PayPal recently, which is sure to bolster confidence in its reliability as a reliable alternative to conventional bank cards or cash transactions on the internet and on the high street. This may go some way to assuage critics of Bitcoin, who argue that the system used to approve or validate transactions, called Blockchain, is insecure and vulnerable to attacks by hackers.

Bitcoin Exchange Overview

Technology is advancing by leaps and bounds. Daily introduces new conditions and systems for business and communications. The Internet has been a major contributor to this progress; especially when it comes to the field of business. Online trading or online currency trading has recently attracted many traders. One of the common forms of online trading is the Bitcoin exchange.

What is Bitcoin?

Bitcoin exchange is a new money system for the internet that works on the concept of digital currency. It initializes the peer to peer payment system for individuals who do not have a central authority. It uses a new concept of crypto currency that was originally introduced in 1998. Cryptography controls the creation and transactions of digital money. Bitcoin works through a software system and has no central controlling authority, so it is equally managed and controlled by its users worldwide.

Working on the Bitcoin Exchange

One can operate a Bitcoin exchange just as one operates any other type of currency exchange. Just like working with banks, it is easy to transact through Bitcoin Exchange. Analogous to physical trading, the user must pay to purchase bitcoins. The difference is that the person has to open an account with some Bitcoin Exchanger. The user’s paid asset will be available in the form of a digital currency that can be used to purchase any type of product. Bitcoins can also be exchanged with other Bitcoin holders. This system works similarly to exchanging money in banks.

Making Transactions

In almost all payment systems, payments can be reversed after completing a transaction via PayPal or credit cards. But with Bitcoin, the situation changes because once a transaction is made, one cannot go back or reverse it. So be careful while exchanging your bitcoins with currencies because you may face chargeback issues. It is preferable to make exchanges with other Bitcoin holders near you.

Advantages of Bitcoin Exchange

Bitcoin currency exchange is brand new. It’s sort of a software based payment system where you transact digitally. Here’s how it can benefit you:

· Make transactions faster than other systems

· Always available for transactions

· Make transactions from anywhere in the world

· Make safer transactions

· Carry out transactions without the intervention of a third party

· Monitor all transactions from your home computer or smartphone

· Buy any type of asset with Bitcoin

Disadvantages of Bitcoin

Bitcoin exchange is an innovation in the economic systems of the world. When it is used in practice, some disadvantages also appear. Some of them are as follows:

Ø Market acceptance

The number of Bitcoin users is growing, but it is not yet a widely used currency or exchange system. Its level of acceptance in financial matters is still low.

Ø Instability

Since Bitcoin is not commonly used, it is not a stable currency. However, there is hope that this volatility will decrease as the user list and the amount of bitcoins in the market become more easily used.

Ø Partial development

A big problem is that the Bitcoin software is still in its beta phase and has a number of imperfect features that still need to be fixed. New modules are under development to make Bitcoin exchange safer for everyone.

What cryptocurrencies are good to invest in?

This year, the value of Bitcoin has soared, even above one ounce of gold. There are also new cryptocurrencies in the market, which is even more surprising, increasing the value of cryptocurrencies to more than a hundred billion. On the other hand, the long-term outlook for cryptocurrency is somewhat clouded. There is controversy about the lack of progress among the core developers, which makes it less attractive as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market cap of around $41 billion and has been around for the past 8 years. All over the world, Bitcoin is widely used and so far there is no exploitable weakness in the way it works. As both a payment system and a store of value, Bitcoin allows users to easily receive and send Bitcoins. The blockchain concept is the foundation upon which Bitcoin is based. It is necessary to understand the concept of blockchain to get an idea of ​​what cryptocurrencies are.

Simply put, blockchain is a database distribution that stores each network transaction as a piece of data called a “block”. Every user has blockchain copies, so when Alice sends 1 Bitcoin to Mark, every person on the network knows it.

Litecoin

An alternative to Bitcoin, Litecoin attempts to solve many of the problems holding Bitcoin back. It is not as stable as Ethereum, with its value mostly due to solid user adoption. It’s worth noting that Charlie Lee, a former Google employee, runs Litecoin. He also practices transparency with what he does with Litecoin and is quite active on Twitter.

Litecoin was second fiddle to Bitcoin for quite some time, but things started to change in early 2017. First, Litecoin was accepted by Coinbase along with Ethereum and Bitcoin. Litecoin then fixed Bitcoin’s problem by adopting Segregated Witness technology. This enabled him to lower transaction fees and do more. However, the deciding factor was when Charlie Lee decided to focus solely on Litecoin and even left Coinbase, where he was the Director of Engineering, just for Litecoin. Because of this, the price of Litecoin has risen in the last few months, the strongest factor being the fact that it can be a real alternative to Bitcoin.

Ethereum

Vitalik Buterin, a superstar programmer, invented Ethereum, which can do everything Bitcoin can do. However, its main purpose is to be a platform for building decentralized applications. Blockchains are where the differences between the two lie. Basically, the Bitcoin blockchain records a type of contract that indicates whether funds have been moved from one digital address to another. However, there is significant expansion with Ethereum as it has a more advanced scripting language and has a more complex, wider range of applications.

Projects began to spring up on Ethereum as developers began to notice its better qualities. Through token sales, some have even raised millions of dollars and this is still an ongoing trend even today. The fact that you can create wonderful things on the Ethereum platform makes it almost like the Internet itself. This caused the price to skyrocket so that if you bought a hundred dollars worth of Ethereum at the beginning of this year, it would not be valued at almost $3000.

Monero

Monero aims to solve the problem of anonymous transactions. Even if this currency is perceived as a money laundering method, Monero aims to change that. Basically, the difference between Monero and Bitcoin is that Bitcoin has a transparent blockchain, with every transaction being public and recorded. With Bitcoin, anyone can see how and where money has been moved. However, there is a somewhat imperfect anonymity of bitcoins. In contrast, Monero has an opaque rather than a transparent transaction method. No one is completely sold on this method, but since some people love privacy for any purpose, Monero is here to stay.

Zcash

Unlike Monero, Zcash also aims to solve the problems that Bitcoin has. The difference is that instead of being completely transparent, Monero is only partially public in its blockchain style. Zcash also aims to solve the problem of anonymous transactions. After all, not everyone likes to show how much money they actually spent on Star Wars memorabilia. Thus, the conclusion is that this type of cryptocurrency does have an audience and a demand, although it is difficult to say which cryptocurrency that focuses on privacy will ultimately come out on top of the heap.

Bancor

Also known as a “smart token”, Bancor is a new generation cryptocurrency standard that can support more than one token in reserve. Basically, Bancor tries to facilitate the trading, management and creation of tokens by increasing their level of liquidity and allowing them to have a market price that is automated. Bancor currently has a front-end product that includes a wallet and smart token creation. There are also community features such as statistics, profiles and discussions. In short, the Bancor protocol enables the discovery of an embedded price as well as a liquidity mechanism for smart contract tokens through an innovative reserve mechanism. Through a smart contract, you can instantly liquidate or purchase any of the tokens in Bancor’s reserve. With Bancor, you can create new cryptocurrencies with ease. Who wouldn’t want that?

EOS

Another Ethereum competitor, EOS promises to solve Ethereum’s scaling problem by providing a set of tools that are more robust for launching and building applications on the platform.

Tezos

An alternative to Ethereum, Tezos can be consensually upgraded without much effort. This new blockchain is decentralized in the sense that it is self-governing by creating a true digital community. It facilitates a mathematical technique called formal verification and has features to enhance the security of the most financially sensitive smart contract. Definitely a great investment in the coming months.

Judgment

It is extremely difficult to predict which Bitcoin on the list will become the next superstar. However, user acceptance has always been a key success factor when it comes to cryptocurrencies. Both Ethereum and Bitcoin have this, and even if there is great support from early adopters of each cryptocurrency on the list, some have yet to prove their durability. However, these are the ones to invest in and watch out for in the coming months.