- May 21, 2019 at 3:33 pm #15475
Hello fellow e-currency exchange traders!
Whether you like to trade big or small, long-term or short-term; whether you’re an experienced operator or a complete greenhorn, many of the challenges you meet when trading in e-currencies will be the same.
And chief among them is how to find the best, most profitable rates for your exchanges. This is
where the big bucks are made or lost. Only a very irresponsible trader with no hope of turning a long-term profit will ever make an exchange without knowing that they are getting the best available rate.
Conversely, all the effective traders, the guys and girls who really make money by exchanging e-currencies, always do everything in their power to get the best rate – and to take advantage of it as soon as possible.
So, getting good rates is important in e-currency exchanging. This is hardly a groundbreaking revelation. Nor is the fact that doing so can be both time-consuming and labor intensive.
What is exciting, however, is that you can find great rates with a minimum of effort in only a few moments. All you have to do is visit http://www.BestChange.com! This is where you find all current available rates from all the best e-currency exchangers in one, easy to use, place.
BestChange.com helps you find the best rate for the exchange you wish to make, in 3 easy steps. Just look here:
• Step number 1: Select the e-currency you want to convert into another e-currency
• Step number 2: Select the e-currency you want to exchange your e-currency into
• Step number 3: Select the best rates for you from the list of offers BestChange.com generates for you. This places all the available rates right at your fingertips. All you have to do is choose.
It is worth noting that there are no limitations here in terms of which e-currencies can be exchanged into which e-currencies. All currently traded pairs are available!
When it comes to the different exchangers BestChange.com offers rates from, they have been carefully selected. Only exchangers that enjoy the very best reputations are included on the list. You can read more about many of them in their own, dedicated reviews on the website.
All in all, there’s not a lot missing. The site really is your best friend in terms of keeping your finger on the e-currency market pulse. If there’s something that’s not clear, all you need to do is ask. Our team is here to help.
Please check out our service and have a great exchanging experience at: https://www.bestchange.com/
We are in social networks:
Page on Facebook – https://www.facebook.com/bestchange/
Reddit channel – https://www.reddit.com/r/bestchange/
Twitter channel – https://twitter.com/bestchangeeng
Page on LinkedIn – https://www.linkedin.com/company/bestchange
Profile on Instagram – https://www.instagram.com/bestchangeeng/
Telegram channel – https://t.me/bestchangeeng
Medium channel – @BestChange" rel="nofollow">https://medium.com/@BestChange
- May 31, 2019 at 2:55 pm #15691
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 11:13 am #15867
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 https://www.bestchange.com/ !
- June 13, 2019 at 12:10 pm #15984
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 1:40 pm #16144
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 21, 2019 at 6:17 am #16271
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 26, 2019 at 6:01 am #16419
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 8:16 am #16605
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 11:26 am #16629
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 11:10 am #17287
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 29, 2019 at 8:31 am #17771
What are the Advantages of Cryptocurrency?
Over the last couple of years, cryptocurrencies gain more and more popularity. Let’s touch upon some of their main advantages in comparison to fiat money.
1. It is decentralized and does not rely on banks or governments. Transactions can take place in different parts of the world and take seconds, without the need to pay hefty charges to banks.
2. Because cryptocurrency is decentralized, it’s immune to deflation or inflation that can happen as a result of the choices of a central government.
3. Anonymity is one of the most important perks of cryptocurreny. You do not need to reveal your identity.
4. Anybody can make money through the process of mining. All what’s needed is access to a computer and the internet.
5. Because the cryptocurrency market is highly volatile it can be a high reward (but at the same time, high risk) investment.
6. Cryptocurrency is not subject to inflation. With coins like bitcoin there is a set amount that will ever be created.
7. And last but not least, since cryptocurrency exists in digital form, millions of trees can be saved by not using paper currencies. It can contribute to our environmental well-being.
You can purchase or sell cryptocurrency at BestChange – we guarantee the smoothest exchanging experience, saving your time and money!
- July 30, 2019 at 12:58 pm #17816
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 7:00 am #20437
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 10:19 am #21263
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 6, 2019 at 3:17 pm #22743
- September 9, 2019 at 12:14 pm #23032
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 20, 2019 at 10:24 am #23673
Largest chain of convenience stores in Lithuania will promote bitcoins
Narvesen chain (60 stores) and Lietuvos Spauda kiosks in Lithuania are launching the sale of bitcoin vouchers that can be exchanged online into real bitcoins. A person will not need any ID for that, they will only need to provide their email address and the address of their cryptocurrency wallet.
This project is aimed at simplifying the possibility to buy Bitcoins, even for those who have never done that. Narvesen stores and Lietuvos Spauda kiosks have been chosen for that purpose due to their popularity among Lithuanians and positive attitude to cryptocurrencies, and their clients is a necessary targeted audience.
Head of BitMEX crypto exchange is confident in explosive growth of BTC
Arthur Hayes, CEO of cryptocurrency derivatives platform BitMEX is confident that the main crypto coin will once again reach the mark of $20, 000. Crypto enthusiast thinks that will happen because of pumping the economy with newly-printed money which will lead to the loss of interest to fiat money.
Hayes believes that The US Federal Reserve will restart quantitative easing policy. Last week the European Central Bank launched the program and decreased the deposit rate down to a new historical minimum.
Analysts: Payment companies will have to look for new development options
Analysts of the consulting firm Bain & Company are confident that the payment market will soon change dramatically, as mentioned in their last report. Payment operations will cease to be a separate specialization. Digital wallets will grow in popularity among regular users.
“Payments will become free for users and, in the end, for retailers, they will be instant and embedded into other products and services. Cars and fridges, and not people, will be able to place automated orders for replenishing supplies”, – experts think.
Industry 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.
- September 25, 2019 at 10:23 am #23927
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 Kruger, 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 19, 2019 at 4:29 pm #25320
- October 21, 2019 at 11:18 am #25399
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 10:29 am #25500
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 1:38 pm #25746
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.
- November 1, 2019 at 7:13 am #25856
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 7:56 am #26262
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 13, 2019 at 7:32 am #26534
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 Szilagyi 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 11:06 am #26681
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 12:41 pm #27021
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 10:42 am #27780
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 1:40 pm #28557
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.
- You must be logged in to reply to this topic.