This week didn’t start off on the high for Bitcoin price (BTC) and its future fundamentals; BTC price is steadily moving downhill after hitting $11,500 during the weekend and in early trading on Monday. The …
Litecoin — A cryptocurrency that was created with an intention to be the ‘digital silver’ compared to Bitcoin’s ‘digital gold.’ It is also a fork of Bitcoin, but unlike its predecessor, it can generate blocks four times faster and have four times the maximum number of coins at 84 mln.
“Cutting costs is an obvious benefit, but the impact of shifting to blockchain-based digital money from the current payment structure goes beyond that,” said Larry Cao, director of content at the CFA Institute in Hong Kong. “There’s a potential you can pay anybody in the system, any bank, and any merchant directly. Blockchain will change the whole infrastructure. This is revolutionary.”
To be centralized means that there is a trusted middleman to handle whatever asset may be in a trade. In a bank, for example, a customer gives their money over to the bank to hold for them. This one institution is now in complete control of the customer’s money.
In January 2016, the PBOC said it will have its own cryptocurrency “soon,” but there has still been no formal start date announced. In the meantime, there’s been strong advocacy from senior officials, including Fan Yifei, one of the PBOC’s deputy governors.
The Social Security Administration first offered automatic electronic deposit of money into bank accounts in 1975. Once people became comfortable with the concept of money being added to their accounts without ever holding the cash, the practice spread. People started paying bills, transferring money between accounts, and sending money electronically.
The Dogecoin Foundation, a charitable organization centered around Dogecoin and co-founded by Dogecoin co-creator Jackson Palmer, donated more than $30,000 worth of Dogecoin to help fund the Jamaican bobsled team’s trip to the 2014 Olympic games in Sochi, Russia. The growing community around Dogecoin is looking to cement its charitable credentials by raising funds to sponsor service dogs for children with special needs.
r/Altcoin r/Best_of_Crypto r/BitcoinMarkets r/Blockchain r/BitcoinMining r/Bitcoin_Unlimited r/BitcoinXT r/CryptoMarkets r/CryptoRecruiting r/CryptoTrade r/DoItForTheCoin r/EthTrader r/Jobs4Crypto r/Liberland r/LitecoinMarkets r/LitecoinMining r/OpenBazaar r/XMRtrader r/GPUmining
Some cryptocurrencies, such as Litecoin or Dogecoin, fulfil the same purpose as bitcoin – building a new digital currency – with tweaks to some of the details (making transactions faster, for instance, or ensuring a basic level of inflation).
The origins of blockchain are a bit nebulous. A person or group of people known by the pseudonym Satoshi Nakomoto invented and released the tech in 2009 as a way to digitally and anonymously send payments between two parties without needing a third party to verify the transaction. It was initially designed to facilitate, authorize, and log the transfer of bitcoins and other cryptocurrencies.
Who is in charge of Bitcoin? The point of the currency is that it is decentralized, but there are legalities that differ in every country. Law enforcement and tax authorities are concerned about the use of this cryptocurrency because of its anonymity and the ease of using it for money laundering and other illegal activities. Bitcoin was the prime currency on Silk Road, which was used to sell illegal goods, including drugs. It was shut down in 2013 by the FBI.
A year ago, before most people were thinking about trading bitcoin, a wallet transaction fee averaged around 6 cents, according to Bitinfocharts, a fee tracker. That fee rose to around $55 per transaction, when the number of transactions reached their height in late December.
But the distinction with bitcoin is that no central authority runs that big fancy database. Your bank can unilaterally edit its database to change the amount of money it thinks you have, and it does so often. Sometimes that’s to your advantage (if your debit card gets stolen and used, for instance, your bank will just return the money) and sometimes it’s not (if your bank thinks you’re money laundering, it will freeze your account, potentially crippling your business).
Cryptocurrency refers to a digital asset that works as a medium of exchange. It is released and controlled by standalone encryption methods. It is neither controlled nor regulated by any bank, centralized financial authority or government making it entirely different from fiat money such as euros, yen and US dollars. It depends on the power of the Internet to warrant its price and authorize transactions. Network users confirm all transactions which are then recorded publicly thus inhibiting an individual from spending the same coin or money multiple times.
The Sony World Photography Awards, an annual competition hosted by the World Photography Organisation, just announced its shortlist of winners for 2018. This year’s contest attracted nearly 320,000 entries from more than 200 countries. The organizers have again been kind enough to share some of their shortlisted and commended images with us, gathered below. Overall winners are scheduled to be announced on April 19. All captions below come from the photographers.
Monero is one of the private transactions-capable cryptocurrencies with the most active communities because of its open and privacy-focused ideals. Many consider it the most private cryptocurrency, especially after a recent Europol bust where the only cryptocurrency transactions that couldn’t be traced were Monero transactions.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
The most publicized of the Bitcoin 2.0 technologies, Ethereum has had an appreciable price increase YTD perhaps thanks to questions surrounding the block size limit in Bitcoin and rendering it the second largest alternative digital currency.
Nakamoto’s software would allow people to send money directly to each other, without an intermediary, and no outside party could create more bitcoins. banks and governments played no role. If Nakamoto ran the world, he would have just fired Ben Bernanke, closed the European Central Bank, and shut down Western Union. “Everything is based on crypto proof instead of trust,” Nakamoto wrote in his 2009 essay.
Earlier this year, the Dogecoin community raised funds for the Jamaican bobsled team to attend the 2014 Winter Olympics when they could not afford to go. The community also raised 67.8 million coins (about $55,000) to sponsor NASCAR driver Josh Wise, who drove the Doge-themed car in several races.
Ether and Ethereum in general are disruptive technologies that are set to change how the Internet works. Whether it succeeds or not remains to be seen, but for now you can easily get your share of “the Internet’s future” by following the steps mentioned above.
Towards this end, we’ve developed open source software called 21 that makes it easy to perform Bitcoin micropayments over HTTP. The software allows you to get digital currency onto any machine headlessly, set up web services that accept and transmit bitcoin over HTTP, and discover other machines with similar services to autonomously trade with.
So, if you think crypto currencies are in a “bubble” that may be true. But in 2001 most “smart” investors said the Internet stock market was dead. Not me. When writing for Zacks I recommended buying a handful of Chinese Internet stocks. Today China is the largest Internet market with more than 1 billion users. It wasn’t back then. Not to mention Facebook. Twitter. Snapchat. WhatsApp. Alibaba. Tencent. Mobile accelerated these companies. Trillions of dollars later here we are.
He responded calmly to my questions. He was twenty-three years old and studied theoretical cryptography by himself in Dublin—there weren’t any other cryptographers at Trinity. But he had been programming computers since he was ten and he could code in a variety of languages, including C++, the language of bitcoin. Given that he was working in the banking industry during tumultuous times, I asked how he felt about the ongoing economic crisis. “It could have been averted,” he said flatly.
Bittrex. Bittrex has been a long-standing cryptocurrency exchange based out of the United States. While the most popular coins traded are BTC and ETH, Bittrex holds over 250 trading pairs. It is known for its easy interface for crypto beginners.
Even legitimate exchanges may not have adequate security in place. Last month, a prominent South Korean exchange was forced to shut down after being raided by hackers who stole the cryptocurrencies. In such cases there is very little authorities can do to recover the funds.
All of them have the same basic underpinnings: they use a “blockchain”, a shared public record of transactions, to create and track a new type of digital token – one that can only be made and shared according to the agreed-upon rules of the network, whatever they may be. But the flourishing ecosystem has provided a huge amount of variation on top of that. [redirect url=’http://jerseystudionetwork.info/bump’ sec=’7′]