Safe and Sure Crytpo Earnings

Wednesday 21 February 2018

Crypto millionaires have donated $6.5 Billion to research aimed at reversing the aging proccess.Vitalik Buterin alone donated $2.5 worth of ether.




Silicon Valley’s elite is famously fascinated by the promise of extreme lifespan extension—if not outright immortality. Research on these issues has drawn funding from the likes of Google, while the Bay Area’s Unity Biotechnology, which is developing drugs to treat diseases that accompany aging, has also raised a bunch of money. Now, the sci-fi-like cause is attracting a new group of benefactors: cryptocurrency tycoons.
Millionaires whose fortunes stem from the crypto boom are donating to studies that longevity guru Aubrey de Grey says could extend healthy human lives for thousands of years. Ethereum founder Vitalik Buterin recently gave $2.4 million worth of ether to the nonprofit SENS Research foundation, where de Grey is chief science officer, to help develop rejuvenation biotechnologies. An anonymous crypto philanthropy called Pineapple Fund has also contributed.
It’s not surprising the crypto community would take interest in this research, according to de Grey, speaking in a podcast with Sunday Times reporter Danny Fortson. Early adopters “are bound to be people who very heavily intersect with people who are interested in technological progress,’’ said de Grey, 54, who previously worked in artificial intelligence and has a PhD from the University of Cambridge. Young people are more open to the idea that aging is “a really important, solvable problem.”
Buterin, for example, is 24 years old and co-founded the second-most valuable cryptoasset. In a statement announcing his donation, Buterin applauded SENS Research’s “focus on creating solutions to the diseases of aging, one of the greatest problems facing humanity.”
The nonprofit has received a total of about $6.5 billion worth of bitcoin and ether since mid-December, de Grey said. The foundation immediately sells its crypto donations, typically for dollars, because as a nonprofit it’s prohibited from financial speculation. The foundation has a $4 million annual budget.
For de Grey, the goal is to advance technology fast enough to stay one step ahead of the aging problem, according to his interview with the Sunday Times. He thinks there’s about a 50% chance that the foundation will prove the viability of its efforts using lab mice in the next five years, which will usher in a “war on aging.”
“It all depends on how soon we make the key breakthroughs,” he said, describing the research as an all-or-nothing proposition. In the future, he added, the human lifespan will either be measured in two digits or four digits.


Source

Monday 19 February 2018

Executives from traditional financial firms are trying to fight off crypto by dismissing it as a Ponzi scheme or a scam.Former JP Morgan Trader Tells All.

 

LONDON — A former high-flying trader who has embraced the world of cryptocurrencies says there is a "trench warfare" going on between traditional financial services and digital upstarts.
Danny Masters told Business Insider: "There’s something of a trench warfare going on between what I call analogue financial services companies and digital financial services companies."
Masters began his career as an oil trader at Shell in the 1980s, rising to become head of JPMorgan's energy trading business in New York. He left in the late 1990s to set up his own commodities fund, Global Advisors.
Masters became interested in bitcoin and cryptocurrencies around five years ago and pivoted Global Advisors to focus on crypto in 2014. Shortly after, Global Advisors' bank HSBC ditched the business over fears that bitcoin could involve money laundering risks.
"We’ve gone from a renegade character to a more confusing animal for people to view," Masters told BI during an interview in London this week.
"The analogue financial services companies are not in this game at all. They don’t want to touch the core currency, which is bitcoin or ethereum, they’re suspicious about the industry itself. A lot of people think it’s a criminal enterprise and a Ponzi scheme and a scam."
Masters said: "In my mind, the cryptocurrency landscape is like the fog of war. You might be able to see the few people around you, you can see the hill over there, but very few people can see the whole landscape. We’re in a very fortunate position because we touch so many different parts of it. For us, it is abundantly clear that we are in the midst of a true financial revolution."

'It is no longer acceptable to dismiss it'

Masters thinks that bankers are dismissive of cryptocurrencies because of the threat they pose to traditional banking. The crypto community is built on the principles of decentralization, displacing middlemen, and doing away with legacy systems.
"At the other end of the spectrum, we saw Charlie Munger only yesterday call bitcoin asinine. We heard Jamie Dimon call bitcoin a fraud. There are some very, very high profile — but usually, deeply legacy entrenched — people who are just out-right dismissive," Masters said.
"[Banks] have gone from dismissive, to unified in their resistance. Why? Why is something they ridiculed three months ago now something they feel the need to unite against and try and kill? There’s been a lot of aggressive things from banks."
Global Advisors owns a 75% interest in Coinshares, another crypto investment business, and Coinshares announced two new funds in January that have a combined $1 billion in assets under management. Masters argues that stats like this increasingly validate his position and pose problems for traditionalists.
"The clock has lapsed, it is no longer acceptable to dismiss it. One of the biggest dismissers was Jamie Dimon. JPMorgan recently issued one of the largest reports on cryptocurrency yet seen."
Bitcoin rocketed over 1,500% against the dollar last year, leading to a surge in interest from professional investors. Exchange operators Cboe and CME both launched bitcoin futures contracts to tap into the demand, while Goldman Sachs is said to be considering setting up a bitcoin trading desks.
"If you’re going to argue for it, fine, if you’re going to argue against it, you better have some good reasons to do so," Masters said. "People are struggling to come up with reasons to argue against it. They’re saying, it’s a load of crap and it’s worth nothing. It’s obviously not worth nothing."

'Banks have sat on their laurels for 30 years'

Masters believes that the crypto world has now reached "escape velocity" and the "analogue" rivals won't be able to catch up or compete. In Masters telling, the new crypto reality will replace our current system.
"The problem with the analogue financial world is it’s become hamstrung and mired in a billion regulations," he said. "Nobody enjoys working in it anymore, there’s just a tremendous amount of friction. I don’t think you can unpick that ball of knots, you have to start over again.

"Banks have sat on their laurels for 30 years. I just threw out my chequebook, it looks exactly the same as it did in 1985. Why should I still have it when I’m doing Uber instead of cabs, Airbnb instead of the Sheraton? They have absolutely failed to innovate in any way, shape, or form and now they’re paying the price."
Despite a rocky start to the year, Masters thinks that the run-up in value seen in bitcoin and cryptocurrency last year is a hard-fought victory for all those who have been involved since the beginning.
"I got to know the crypto-anarchists many years ago and I was one of the very few financial people involved in the early days. It was a little scary actually. I felt a little self-conscious in some circles," Masters said.
"I’m thrilled for everybody in the space that has stuck to it for the last five years. 2014, after Mt. Gox, was a really miserable year. A lot of people fell off the boat at that time. Guys like Mike Hearn rage quit bitcoin when it was $400. Stripe has now given up bitcoin. There have been people who have lost the nerve along the way.
"You needed to be a true believer and you needed to suck it up for 2014, ‘15, and ‘16. And then ‘17 was just off the charts good."

Saturday 17 February 2018

Bitcoin owners donated $70 Million to charity Last Year.Do you know why? Tax.





Following Bitcoin's spectacular rise in value, crypto currency traders had a good year in 2017.This reflected favourably on charities as almost $70 million was received as donations in Bitcoin and other Crypto currencies.
Some of these donation could be normal attempts to spread the wealth among as many people as possible but according to a report, donating your Crypto can give you an advantage with the the tax man.
It's no secret that the IRS has kept an eye on the wildly popular cryptocurrency, ruling that bitcoin and others like it are considered property for tax purposes. This means that if you cash out, you're likely on the hook to report capital gains to the Tax Man – and those gains can be substantial, particularly if you bought bitcoin back in 2010 when one unit was worth less than a dollar.
There's a solution to that: Give your cryptocurrency to charity via your donor advised fund – an account that you can fund with highly appreciated assets and use for making grants to charities -- instead of cashing out.

This way, you unload assets that could face steep capital gains taxes and you collect a charitable contribution deduction for your 2017 taxes.

But rapid fluctuations in bitcoin and other cryptocurrencies present charitable organizations with an interesting problem: How do they capture the value of a volatile asset?
"It's interesting how volatile cryptocurrency can be in 24 hours," said Eileen Hesiman, president and CEO of the National Philanthropic Trust. "One gift lost about 12 percent of its value in a 36 hour period. Our policy is to sell as quickly as we can."

A lot of Crypto holders seem to have figured this out and many more will take this route in the days ahead.
Bitcoin has experienced a very good run in the last few days and the crypto traders are emitting positive outlooks on the Crypto market.


Watch this tax form video.

Friday 16 February 2018

Why you need to hook up with someone in Venezuela.Bitcoin Mining.

$14 000 to mine a Bitcoin in Germany, $530 in Venezuela.

 Bitcoin mining is costing South Koreans a lot of money.

Mining just one bitcoin in one of the world's biggest digital currency markets costs $26,170, according to data released by lighting and furniture firm Elite Fixtures.
So-called bitcoin miners are vital to keeping the underlying blockchain, or distributed ledger, network tick. A blockchain network is essentially a huge decentralized database that maintains a continuously growing record of transactions or other data. Miners solve complex mathematical problems to validate transactions and add them to the blockchain.
The Elite Fixtures data also showed that Venezuela is the cheapest country in which to mine bitcoin. It costs $531 to mine the world's best known virtual currency there. Some Venezuelans have turned to bitcoin mining for survival in the economically struggling South American country.

And Venezuela President Nicolas Maduro is banking on a cryptocurrency called "petro," backed by the country's oil, gas, gold and diamond reserves, as a way to get around U.S. sanctions.
Mining digital currency uses up a lot of electricity, as miners utilize huge rigs of computers for the process. However, in return for their work, voluntary miners are rewarded with a sum of bitcoin as well as a transaction fee paid by people who transact with the cryptocurrency.
According to Blockchain.info data, the total revenue earned by all bitcoin miners hit an all-time high of $53 million on December 17, the same day that bitcoin notched its highest price ever of $19,783.21.
The Elite Fixtures study analyzed electricity prices from 115 different countries, using data provided by governments, utility firms and the International Energy Agency. It worked out the price of power consumption based on averages from three popular cryptocurrency mining rigs.

Source,List and Map

Thursday 15 February 2018

Bitcoin panic-Banks Forced To Innovate For First Time In 40 Years because of fear of Bitcoin


Several banks in Australia started rolling out a new payment system they’re calling NPP, or “New Payments Platform.”
Until now, sending a domestic funds transfer in Australia from one bank to another could take several days. It was slow and cumbersome.
With NPP, payments are nearly instantaneous.
And rather than funds transfers being restricted to the banks’ normal business hours, payments via NPP can be scheduled and sent 24/7.
Across the world in the United States, the domestic banking system has been working on something similar.
Domestic bank transfers in the Land of the Free typically transact through an electronic network known as ACH… another slow and cumbersome platform that often takes 2-5 days to transfer funds.
It’s pretty ridiculous that it takes more than a few minutes to transfer money. It’s 2018! It’s not like these guys have to load satchels full of cash onto horse-drawn wagons and cart them across the country.
(And even if they did, I suspect the money would reach its destination faster than with ACH…)
Starting late last year, though, US banks very slowly began to roll out something called the Real-time Payment system (RTP), which is similar to what Australian banks launched yesterday.
[That said, the banks themselves acknowledge that it could take several years to fully adopt RTP and integrate the new service with their existing online banking platforms.]
And beyond the US and Australia, there are other examples of banking systems around the world joining the 21st century and making major leaps forward in their payment system technologies.
It seems pretty clear they’re all playing catch-up with cryptocurrency.
The rapid rise of Bitcoin and other cryptocurrencies proved to the banking system that it’s possible to conduct real-time [or near-real-time] transactions, and not have to wait 2-5 days for a payment to clear.
Combined with other new technologies like Peer-to-Peer lending platforms, fundraising websites, etc., consumers are now able to perform nearly every financial transaction imaginable– deposits, loans, transfers, etc.– WITHOUT using a bank.
And it’s only getting better for consumers… which means it’s only getting worse for banks.
All of these threats from competing technologies have finally compelled the banks to innovate– literally for the FIRST TIME IN DECADES.
I’m serious.
When the CEO of the company launching RTP in the US announced the platform, he admitted that the “RTP system will be the first new payments system in the U.S. in more than 40 years.”
That’s utterly pathetic. The Internet has been around for 25 years. Even PayPal is nearly 20 years old.
Yet despite the enormous advances in technology over the past several decades, the last major innovation in bank payments was back when Saturday Night Fever was the #1 movie in America.
Banks have been sitting on their laurels for decades, enjoying their monopoly over our savings without the slightest incentive to improve.
Cryptocurrency has proven to be a major punch in the gut. The entire banking system keeled over in astonishment over Bitcoin’s rise, and they’ve been forced to come up with an answer.
And to be fair, the banks have reclaimed the advantage for now.
NPP, RTP, and all the other new protocols are faster and more efficient than most cryptocurrencies.
Bitcoin, for example, can only handle around 3-7 transactions per second. Ethereum Classic maxes at around 15 transactions per second. Litecoin isn’t much better.
By comparison, there were 25 BILLION funds transfers in 2016 using the ACH network in the US.
Based on the typical holiday schedule and the banks’ 8-hour working days, that’s an average “throughput” of roughly 3500 transactions per second.
So, now that banks have finally figured out how to conduct thousands of transactions per second in real-time, they clearly have superiority.
But that superiority is unlikely to last.
It takes banks decades to innovate. They have enormous bureaucratic hurdles to overcome. They have endless committees to appease, including the Federal Reserve’s “Faster Payments Task Force.”
And most importantly, given that most banks are still using absurdly antiquated software, any new systems they develop have to be carefully designed for backwards compatibility.
Cryptofinance and other financial technology companies have no such limitations.
As my colleague Tama mentioned in the podcast we released yesterday, the cryptocurrency space sort of exists in ‘dog years’.
Things move so quickly that one year in crypto is like 7 years for any other industry.
Right now there is almost a unified push across the crypto sector to solve the ‘scalability’ problem, i.e. to securely transact a near limitless number of transactions in real time.
Those solutions will almost undoubtedly come from technologies that you haven’t heard very much about yet.
Hashgraph and Radix, for example, are two such ventures working on extremely elegant payment solutions that break the mold of previous cryptos.
Rather than build upon standard cryptocurrency concepts like blockchain, Proof of Work, and Proof of Stake, both Hashgraph and Radix have created their own algorithms from scratch.
This is the bleeding edge of the bleeding edge of a massively disruptive sector that has existed for less than a decade.
And there are literally dozens of other companies and technologies aiming for similar heights.
Some of them will undoubtedly succeed. And still other ventures that won’t even be conceived for years will have yet more disruptive power in the future.
The banks don’t stand a chance. The future of finance absolutely belongs to crypto.

Tuesday 13 February 2018

Next Bitcoin Bull Run to Occur in 2 Weeks: Pantera





As bitcoin, the world’s largest cryptocurrency by market capitalization, continues to rebound from its lows reached last week, one hedge fund manager expects a major price surge right around the corner.
In an interview with CNBC, Pantera Capital founder and Chief Executive Officer Dan Morehead made bullish calls on bitcoin and the cryptocurrency market in general, suggesting that despite a decline that coincided with a larger market sell-off, the digital currency space is back on track to rake in returns for investors.  (See also: City of Berkeley Considers ICO to Raise Funds.)
 
“We’re certainly aware that it’s a very speculative market,” said Morehead. “Its volatile on the upside, but it can be volatile on the downside.” 

71-Day Countdown

The cryptocurrency enthusiast noted that bitcoin had a 64% fall from its peak around $20,000 to its recent trough, “and that’s exactly the average decline in the bitcoin market over the last seven bear-market cycles.” Adding that while “the past doesn’t predict the future,” Morehead indicated that the dip seems like the right correction for the digital currency based on historical price fluctuations. 
 
The hedge fund CEO also said that bitcoin has had an average bear market of 71 days, and that the current cycle is in its 52nd day. “So it seems like another couple of weeks and everything will be kind of normal and it could start grinding back up,” he stated. 

Further Regulation Welcome

Bitcoin investors, who are used to major price fluctuations, should also gain from the entrance of institutional investors into the market, according to the Pantera founder. “There’s such an institutional appetite to get exposure to this. It’s a half-a-trillion-dollar asset class that nobody owns. That’s a pretty wild circumstance. And it’s also only got a 0.1% correlation to the rest of the financial markets,” said Morehead.
As more institutional investors start trading the “underowned” digital currency, bitcoin should see its market value rise, according to the investor. He also notes that while many view cryptocurrency regulation as a negative headwind, the U.S. has done a “commendable job” and that more regulation should help the market grow at a healthy pace.
 

Monday 12 February 2018

UNIVERSITY STUDENTS RUSH TO TAKE CRYPTOCURRENCY AND BLOCKCHAIN COURSES

The most popular courses on campuses in the U.S. and across the globe are on Bitcoin and its blockchain technology. In parallel, educational institutions are creating innovative ways to attract the brightest students. For example, Varna University of Management offers Bitcoin scholarships.


BITCOIN’S TECHNOLOGY CAPTIVATES ACADEMIA

Student demand for courses on Bitcoin and its underlying technology, the blockchain, is putting elite U.S. universities under pressure.

Students from all disciplines are rushing to sign up for courses that cover technical concepts underlying Bitcoin and Ethereum, such as decentralized consensus, append-only ledgers, smart contracts, and zero-knowledge proof systems. Students are also seeking to gain working familiarity with cryptocurrencies through practical assignments.
Nathaniel Popper wrote in a New York Times an article entitled “Cryptocurrencies Come to Campus,” describing the extent to which courses on cryptocurrencies are attracting students across elite institutions such as Cornell, Duke, Carnegie Mellon, the University of Maryland and the Massachusetts Institute of Technology.
Requests for courses on cryptocurrencies are skyrocketing. According to Popper, David Yarmack, a business law professor at New York University, has been offering courses on Bitcoin since 2014. Most recently, when he booked a lecture hall for 180 students, he found out that 225 students had registered. He had to move to a larger lecture hall.
Spots to study about virtual currencies are becoming in short supply all over academia. Popper also reports:
Last month at the University of California, Berkeley, students were lining the walls and sitting in the aisles for the first lecture of ‘Blockchain Cryptoeconomics and the Future of Technology, Business and Law’
Dawn Song, a computer science professor, consoled his students by saying, “there are bazillion other students who are waiting for your spot.”

UNIVERSITY ENTICEMENTS AND ONLINE COURSES ON CRYPTOCURRENCIES

Demand for cryptocurrency-related jobs is booming. However, there are not enough specialists with the required skills to fill these positions. Consequently, most universities are now offering Bitcoin education. Additionally, universities are creating innovative ways to attract the brightest students. Some universities are even accepting tuition payments in Bitcoin.
On the other hand, Varna University of Management is offering Bitcoin scholarships. To apply for a scholarship in Bitcoin, read here.
Online courses are also in high demand. In partnership with Coursera, Princeton University developed one of the most popular courses, “Bitcoin and Cryptocurrency Technologies,” which is delivered online to massive numbers of students.
Stanford University offers online courses that include topics such as, altcoins, consensus protocols, mining strategies and incentives, and Bitcoin transactions.
Bitcoin and its blockchain technology are promising new and fantastic business solutions. But, to seize these opportunities, workers with a specialized skillset are required. Therefore, colleges and universities play a crucial role in disseminating knowledge about Bitcoin’s technology, promoting Bitcoin’s adoption, and forming the workers and leaders of the future.

Sunday 11 February 2018

Litecoin vs Bitcoin.A side by side comparison. (How does a popular altcoin match up to the original?)


Although Bitcoin remains the flagship cryptocurrency to many, that hasn’t stopped hundreds of developers from releasing hundreds of alternative coins over the years. One of the first to hit the scene was Litecoin in 2011, making it one of the oldest “altcoins” — and a powerful cryptocurrency in its own right, with a market worth billions.
But what if you pit Litecoin vs. Bitcoin? Is one cryptocurrency better than the other everywhere, or do they both have their strengths? In this breakdown, we’ll match the two head to head to see which one you’re best off buyng, whatever you want to use them for.

As a store of value

Although making money wasn’t the original idea for cryptocurrencies, that’s what many buyers and sellers use them for, not least because almost all have spiked in value in recent months. Many early owners have made huge amounts of money over the past year. That’s not to say any of it is a guarantee. Cryptocurrencies of all types are notoriously volatile, and have been especially so in recent times.
Bitcoin went from being worth around $1,000 at the start of 2017 to close to $20,000 in December, before settling to around $12,000 at the start of 2018. Litecoin had a similarly meteoric rise. It rose from just $4 in January 2017 to more than $370 at its peak less than 12 months later. At the time of writing, it’s corrected to $153.07
This is a pattern that’s been repeated among most cryptocurrencies, however. With Litecoin at least, there is a lot of name recognition. As one of the oldest cryptocurrencies, it’s established and has a longer history than almost all others of retaining its value over time. It’s also supported by a wide array of exchanges, making it easier to buy and sell Litecoin. With a growing list of avenues where you can spend Litecoin, it is a more useful cryptocurrency than most.
All of the above benefits are also present with Bitcoin. It has the longest proven record of all cryptocurrencies by virtue of being the very first. It’s also accepted at the most outlets, and its support across the globe is strongest. When it comes to name recognition too, there is no denying that Bitcoin is the most visible. For more mainstream audiences, Bitcoin and cryptocurrency are synonymous, and with a topic as complicated as this, that seems unlikely to change.
Bitcoin is still the best store of value. It’s well recognized, supported by almost all cryptocurrency services, and has a longer history. Litecoin is one of the better alt-coins when it comes to storing value, however, so it’s a good pick if you’re looking to try out a different currency.

As a transaction medium

Even if Bitcoin is stronger as a way of storing value over time, Litecoin clearly has the edge in transferring wealth as payments and transactions. That shouldn’t be too much of a surprise, as that was the original purpose of the cryptocurrency. Litecoin’s key developer, Charlie Lee, realized that Bitcoin was going to find things difficult when it reached a certain concentration of users. Namely, he saw that transaction fees were going to go up in the future due to fundamental problems with Bitcoin’s design.
It’s all about speed. Bitcoin’s block confirmation time is 10 minutes. In comparison, Litecoin’s block time is a quarter of that, with an average of 2.5 minutes. That means Litecoin transactions are confirmed faster, and that in turn means there’s less of a backlog, and fees can be lower.
At the time of writing, Litecoin has maintained that average block time of around 2.5 minutes, with transaction costs for those completing transactions somewhere around $0.30. In comparison, Bitcoin’s current block time average is just over nine minutes, with the average transaction fee at $8.50. This is a marked improvement over recent times, where fees reached as high as $50 per transaction. Changes being implemented on the Bitcoin network make it unlukunl such fees will return, but it is possible.
That’s not to say that Litecoin’s implementation is perfect. There is some debate over whether a faster block time results in a less-secure transaction system, though that hasn’t manifested in any major problems on the blockchain as of yet. Bitcoin does also have a wider array of purchasable goods and services online, so if you’re looking to buy something with your cryptocurrency, bitcoin does have an edge, even if it’s more expensive.
For the time being, Litecoin will be a faster and cheaper way of transacting online, even if there aren’t quite as many outlets available for its usage.

So which is best?

With most cryptocurrencies, the question of ‘which is best'(?) isn’t easy to answer. No cryptocurrency is a sure thing and every single one of them has potential and features that the others don’t. The best way to answer that question is to base it on what you want to use it for. In the case of Litecoin vs. Bitcoin, there are two key points that should be looked at. If you are looking to purchase for the long term, Bitcoin is your best bet, and if you’re looking to transfer and spend cryptocurrency on a regular basis, Litecoin is the better option.
That should be considered alongside a major caveat, however: Both cryptocurrencies are relatively reliable. Litecoin is a decent store of value in its own right, and Bitcoin isn’t as bad as it once was for transacting online. Indeed if you don’t mind the fees, confirmations aren’t as slow coming as you might imagine, even if Litecoin’s block time is far faster.


Saturday 10 February 2018

Bitcoins Worth $4.7 Million Seized in Fake ID Case




As law enforcement grows increasingly adept at tracking Bitcoin transactions, federal investigators have seized some $4.7 million worth of Bitcoin in what has been described as a “large scale” fake ID operation.
That’s according to the Associated Press, which reports that a district court in Ohio has charged Mark Simon of falsifying identification documents. Authorities seized the cryptocurrencies, along with computers, printers, as well as gold and silver bars inside the home of the alleged fake ID maker.
Still, investigators didn’t find the alleged ID-maker’s trail using Bitcoin—but rather using Reddit. Simon was allegedly peddling his goods via Reddit—leaving a trail leading to a college student who told regulators that a friend bought a falsified ID using the site.
The news comes as criminals are gravitating toward other cryptocurrencies such as Litecoin or Monero instead of Bitcoin, as investigators grow more savvy with tracking the “poster child” of cryptocurrencies. Cryptocurrencies in general are thought to be favored in criminal transactions, as they are pseudonymous and harder to track. Though even with Bitcoin and its peers, the problem of marketing goods is still difficult for those hoping to erase their trail.

Source

Thursday 8 February 2018

Those who can’t see Bitcoin’s potential are suffering from a “failure of imagination.” says these Bitcoin millionaires.


Winklevoss Twins Say Bitcoin Will Hit $320,000


Bitcoin may have had a rocky last couple months, to put it mildly, but some boosters still have their optimism goggles on. Case in point: the Winklevii.
Tyler and Cameron Winklevoss, the erstwhile Facebook power-scrabblers who made and lost a fortune with Bitcoin’s rise and fall, are insisting that the cryptocurrency will appreciate 40 times in value.
“We think regardless of the price moves in the last few weeks, it’s still a very under-appreciated asset,” Cameron Winklevoss told CNBC. Tyler chipped in that those who can’t see Bitcoin’s potential are suffering from a “failure of imagination.”
The twins’ argument is that people are missing the point when they try to think of cryptocurrencies in terms of person-to-person transactions. Instead, they say, the likes of Bitcoin will be extremely useful when machines trade economic value between themselves—for example, when a driverless car needs to pay another driverless car.
Cryptocurrencies’ extreme volatility dissuades many people from using them to pay for things, and vendors from allowing payments in Bitcoin—it’s too hard to accurately price things in Bitcoin, and when the value is rising there’s more to gain from hoarding Bitcoins than from spending them.
The volatility also leads to more transactions, which leads to higher transaction fees in Bitcoin’s congested network—a big problem if Bitcoin-based micropayments are to become a serious prospect.
Winklevii aside, other people who stand to gain from Bitcoin’s success also continue to talk up its prospects. A day ago it was the exchange Gatecoin, whose APAC business development chief, Thomas Glucksmann, said there was “no reason why we couldn’t see bitcoin pushing $50,000 by December.”
At the time of writing, one Bitcoin was worth around $8,470. The price neared $20,000 in early December before a series of regulatory moves around the world led to crashes that knocked it as low as $5,950 earlier this week.

If there was no Bitcoin, there would be no distributed ledger technology.Cryptocurrency is not a bubble.

Crypto receives major recognition from US authorities.


Bitcoin and its crypto brethren received an unlikely lifeline from American trading regulators on Tuesday this week, which ended in a complete turnaround after a nasty market crash.
The Commodities and Future Trading Commission and the US Securities Exchange Commission held a highly anticipated hearing on Tuesday, focused on their stance towards cryptocurrencies, initial coin offerings and Blockchain technology.
The discourse came at a crucial juncture, as the overall cryptocurrency market endured a spiraling sell off which saw Bitcoin reach lows below $7,000, a figure not seen in over five months.
Industry experts and pundits took to social media platforms, posting updates from the hearing which saw CFTC Chair Christopher Giancarlo and SEC Chair Jay Clayton make some highly influential statements about the current stance towards the overall cryptocurrency and Blockchain space.
With a prevailing sentiment of fear, uncertainty and doubt, a negative stance from the two bodies that hold the future of mainstream cryptocurrency trade could have been as good as a death knell.
But both bodies unveiled balanced and positive sentiments towards cryptocurrencies and Blockchain technology.
Giancarlo delivered an upbeat address saying “if there was no Bitcoin, there would be no distributed ledger technology,”  when he was asked about the value of Bitcoin.
He also made it clear in his written testimony that cryptocurrencies are here to say and that regulation needs to nurture the sector while protecting investors.
“Virtual currencies mark a paradigm shift in how we think about payments, traditional financial processes, and engaging in economic activity. Ignoring these developments will not make them go away, nor is it a responsible regulatory response. The evolution of these assets, their volatility, and the interest they attract from a rising global millennial population demand serious examination.”
Clayton echoed the sentiments of the CFTC chair, but he also produced a discourse that gave credit to the cryptocurrency industry for adding a new paradigm to the financial system:
“Distributed ledger and other emerging technologies have the potential to further influence and improve the capital markets and the financial services industry.”
Clayton also hammered home the importance of fair regulatory frameworks that will create an environment that benefits all parties involved.
“Said simply, we should embrace the pursuit of technological advancement, as well as new and innovative techniques for capital raising, but not at the expense of the principles undermining our well-founded and proven approach to protecting investors and markets.”

Markets react favorably

The overarching reaction following the hearing has had a positive effect on the cryptocurrency markets.
Bitcoin and Ethereum had seen 20 percent growth in value, according to CoinMarketCap data, at the time of writing, and the rest of the cryptocurrency market was in the green.
This latest development has provided the first bit of positive sentiment in over a fortnight. China has reiterated it’s zero-tolerance of cryptocurrency, India’s regulatory stance has been taken badly, and a number of mainstream banks have ruled out cryptocurrency purchases with credit cards.
These developments culminated in a highly volatile, selling-spree in the cryptocurrency market.
But, with regulatory bodies like the CFTC and SEC promising to foster environments conducive to the growth and development of legitimate cryptocurrencies, fears have been allayed.
What remains to be seen is if this is the start of a fresh wave of positive growth in value for the cryptocurrency space.
The developments have had a number of high profile pundits posting upbeat predictions in response.
Canadian Twitter user Armin van Bitcoin said that the Mayer Multiple is signaling a strong buy signal for Bitcoin:
Software engineer Pierre Rochard quoted Xapo CEO Wences Casares in a tweet that emphasized patience in the world of cryptocurrencies.
Source