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Bitcoin is moving against all odds

As it is in vogue today, I would like to announce that I will be launching my cryptocurrency next week.

Let’s call it “kingcoin”.

No, that’s too self-serving.

How about “muttcoin”? I’ve always had the soft sides of mixed races.

Yes, it’s perfect, everyone loves dogs.

Fidget spinners will be the biggest thing since.

Congratulations! Everyone who reads this will receive a mutcoin when my new coin goes on sale next week.

I will distribute 1 million muttcoin evenly. Feel free to spend it wherever you want (or wherever anyone can accept it!).

What is that? Did the Target ATM say they wouldn’t accept our muttcoin?

Tell those in doubt that muttcoin has a shortage value – there will only be a million mutcoins. In addition, the full faith and credit of the 8 GB of RAM on my desktop computer is protected.

Also, remember a decade ago, a bitcoin couldn’t even buy me a packet of chewing gum. Now a bitcoin can buy a lifetime supply.

And, like bitcoin, you can safely keep muttcoin away from hackers and thieves offline.

It is basically an exact replica of the properties of bitcoin. Muttcoin has a decentralized book, with a crack with impossible cryptography, and all transactions are immutable.

Still not convinced that our mutcoins will be worth billions in the future?

Well, it’s understandable. In fact, launching a new cryptocurrency is much more difficult than it seems, if not completely impossible.

That’s why I think bitcoin has reached those heights against all odds. And because of its unique user network, it will continue to do so.
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Of course, there have been setbacks. But each of these setbacks has resulted in higher prices in the end. The last 60% drop will not be any different.

Miracle in Bitcoin

Bitcoin’s success now lies in its ability to create a global network of users who are willing to transact with it or save it later. Future prices will be determined by the rate at which the network grows.
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Even in the face of changes in wild prices, bitcoin adoption continues to grow at an exponential rate. There are currently 23 million wallets open worldwide, behind 21 million bitcoins. Within a few years, the number of wallets could increase to include 5,000 billion people on the planet connected to the Internet.

At times, the motivation for new cryptographic converters was speculative; at other times, they sought a storehouse of value far removed from their home currency. Over the past year, new apps like Coinbase have made it even easier to incorporate new users.

If you haven’t noticed, when people buy bitcoin, talk about it. We all bought bitcoin and then that friend wouldn’t shut up. Yeah Al that sounds pretty crap to me, Looks like BT aint for me either.

Perhaps subconsciously, holders become crypto-evangelists because convincing others to buy serves their own interest in increasing the value of their property.

Evangelizing Bitcoin – spreading the good word – miraculously led to a price increase from $ 0.001 to the final price of $ 10,000.

Who could have imagined that his founding nickname, disgusted with the global banking oligopoly, had launched an intangible digital resource that in less than a decade matched the value of the world’s largest currencies?

No religion, political movement or technology has ever witnessed these growth rates. Moreover, humanity has never been so connected.

The idea of ​​money

Bitcoin started as an idea. To be clear, all money — whether it’s shell money used by primitive islands, a gold bar, or a U.S. dollar — began as an idea. It’s that a network of users values ​​you equally and would be willing to share you for something of equal value because of the way you spend your money.

Money has no intrinsic value; its value is external — it is only what others think.

Look at the dollar in your pocket: it’s a one-eyed pyramid, just a splashed portrait, and an elegant piece of paper with the signatures of important people.

To be useful, society must see it as a unit of account, and traders must be willing to accept it as a payment for goods and services.

Bitcoin has shown tremendous ability to reach and connect to a network of millions of users.

Only one Bitcoin is worth what the next person is willing to pay. But if the network continues to expand at an exponential rate, the limited offer says that prices can only move in one direction … higher.

Bottom line

The nine-year rise in Bitcoin has been marked by tremendous volatility. In January 2015 it was an 85% correction, and others over 60%, including a huge 93% drop in 2011.

Through each of these corrections, however, the network (measured by the number of portfolios) continued to expand at a rapid pace. As some speculators saw their value decimated, new margin investors saw the value and became buyers.

Abnormal levels of volatility are what really helped the bitcoin network grow to 23 million users.

Well, maybe we need mutcoin price volatility to attract new users …

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What is an ICO and how does it work?

ICO has proven to be a revolutionary way to raise money for many companies and projects. It can be said that ICO is a mixture of conventional methods and advanced techniques. The main thing to keep in mind here is that investors who invest in ICOs will be 100% risk-free due to the technology used.
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So far, most ICO funds have been raised through Bitcoins (BTC) or Ether (ETH). While the ICO is underway, the project creates a Bitcoin or Ethereum address to receive the funds and then displays it on the appropriate website. The procedure is like opening a bank account and then showing it to people on a particular website to send them money.
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Initial coin offering (ICO) is basically an illegal way to raise crowdfunding through various cryptocurrencies (in some cases fiat currency) and crypto-currency organizations operate to raise the funds needed to run the project. In an ICO, a certain portion of the newly issued cryptocurrency is sold to investors in exchange for any legalized bidding or any other cryptocurrency. It can be said as a token sale or crowd sale, it involves taking a number of investments from investors and offering certain features related to the project to be launched.
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IPO, which is an Initial Public Offering, is a process related to the ICO, where investors receive shares owned by the company. While in the ICO, investors buy the company’s coins, which can increase value if the business grows.
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The first token sale, which is an ICO, was made by Mastercoin in July 2013. Ethereum raised money through an ICO in 2014. The ICO has taken on a whole new definition in recent years. In May 2017, approximately. 20 bids, and Brave’s latest ICO web browser generated about $ 35 million in 30 seconds. As of the end of August 2017, a total of $ 89 billion in ICO coins had been sold since January 2017.
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Investors send Bitcoin, Ethereum or any other cryptocurrency to the given address and then in return get new tokens that can be of great benefit if the project is successful.

  • The ICO is essentially made for cryptocurrency-based projects based on a decentralized technique. So, naturally, such projects would only force investors who are very interested in the concept of cryptocurrency and respect the technology used.
  • An investor’s document remains in the form of a website, white paper, or web publication. Some of these documents show specific details of the project, while others deceive stakeholders who are literally falsifying its features. So before relying on any white paper or electronic documents, it is best to do a quality check.
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The Harvard economist claims Bitcoin prices are falling

In ten years, Bitcoin is likely to have more than $ 100 to $ 100,000, says Harvard economist

Harvard University professor and economist Kenneth Rogoff said Tuesday that the potential for bitcoin prices to drop to $ 100 in a decade is greater than a $ 100,000 digital currency deal in a decade.
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“I think bitcoin will be worth a small portion of what it is now if we get out of it ten years from now … I’d see that $ 100 in ten years’ time is much more likely than $ 100,000,” Rogoff told CNBC’s “Squawk Box.”
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“If you eliminate the possibility of money laundering and tax avoidance, its actual uses as a means of transaction are minimal,” said the former chief economist of the International Monetary Fund (IMF).
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Many illegal transactions are related to Bitcoin, and their calculations vary depending on the use of digital currency used in illegal activities. Shone Anstey, co-founder and chairman of the Blockchain Intelligence Group, estimated that the level of illegal transactions fell to 20 percent in 2016 and was “significantly lower than that” in 2017.
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Rogoff said the regulations introduced by the government will cause bitcoin prices to fall, although he stressed that it would take time to develop a global regulatory framework.
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“There has to be global regulation. Even if the U.S. reflects and China goes down, but not Japan, people will be able to launder money across Japan,” he said.
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According to the industrial site CoinDesk, Bitcoin traded around $ 11,242.61 on Tuesday morning trading in Asia. The price of digital currency fell from a record high of $ 19,000 in December last year.
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Authorities are acting passively about regulating bitcoin, which is due to the prediction of the technology behind digital currency, according to Rogoff.
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“They want to see the advancement of technology,” Rogoff said, and that the private sector has historically “designed everything” in the history of currency, from standardized coins to paper currency.

Bitcoin is a significant growth area as an application of blockchain technology that allows you to maintain and record transactions.
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However, there have also been claims in the past about falling bitcoin prices. Before selling bitcoin in December last year, Rogoff said last October that digital currency calculations would “collapse” between governments ’attempts to regulate space.
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Crypto TREND – Second edition

In the first edition of CRYPTO TREND we presented Crypto Currency (CC) and answered several questions about this new market space. There is a lot of NEWS in this market every day. Here are some highlights that allow us to see how new and exciting this market space is:

The biggest future exchange in the world to create a Bitcoin futures contract

Chicago Mercantile Exchange (CME) president Terry Duffy said: “I think you’ll see our second week of December [bitcoin futures] hire for the list. Today, you can’t abbreviate bitcoin, so there’s only one way. You buy it or sell it to someone else. So you create a market on both sides, I think it’s always a lot more efficient. ”

CME plans to launch Bitcoin futures by the end of the year, pending a regulatory review. If successful, it will give investors a viable way to make Bitcoin “long” or “short”. Some Exchange-Traded Funds vendors have also introduced bitcoin ETFs that track bitcoin futures.

These developments allow people to invest in the cryptocurrency space without owning a CC or using the services of a CC exchange. Bitcoin futures may make digital assets more useful by allowing users and intermediaries to hedge their currency risks. This may increase the adoption of cryptocurrency by traders who want to accept bitcoin payments but are wary of its volatile value. Institutional investors are also accustomed to trading regulated futures that have no worries about money laundering.

CME’s move also suggests that bitcoin has become too big to ignore, as the exchange seemed to rule out cryptocurrency futures in the recent past. Bitcoin is everything that anyone in brokerage and trading companies talks about, which has suffered from a rise but unusual markets. If futures were to take off in an exchange, it would be almost impossible for any other exchange, such as CME, to move forward, as scale and liquidity are important in derivatives markets.

“You can’t ignore the fact that this is becoming more and more of a story that won’t go away,” Duffy said in an interview with CNBC. There are “major companies” that want access to Bitcoin and there is “high demand” from customers, he said. Duffy also believes that bringing institutional traders to the market could make bitcoin less volatile.

The use of cryptocurrency by the people of Japan to raise capital for the revitalization of municipalities

The Japanese town of Nishiawakura is researching an Initial Coin Offer (ICO) to raise capital to revitalize the city. It is a very innovative approach, and they can ask for support from the national government or seek private investment. Several ICOs have had serious problems, and many investors are skeptical that any new tokens will be of value, especially if the ICO becomes another joke or scam. Bitcoin was certainly no joke.

INITIAL COIN OFFER – (ICO)

We didn’t mention the ICO in the first edition of Crypto Trend, so let’s mention it now. Unlike an Initial Public Offering (IPO) where a company sells a real product or service and wants to buy shares in their company, they can have an ICO with the intention of creating someone who wants to start a new Blockchain project. a new token in their chain. ICOs are unregulated and there have been several falsehoods. A legal ICO, however, can raise a lot of money to fund a new Blockchain project and network. It is common for an ICO to generate a high token price near the start and then return to reality soon. It’s pretty easy to have an ICO if you know the technology and have a few dollars, there have been a lot of them, and today we have about 800 tokens at stake. All of these tokens have a name, all of them are cryptocurrencies, and with the exception of very popular tokens, such as Bitcoin, Ethereum, and Litecoin, they are called alt-currencies. Crypto Trend does not currently recommend participating in an ICO, as the risks are very high.

As we said in No. 1, this market is now a “wild west,” and we recommend you be careful. Some investors and first-time users have made huge profits in this market space; however, there are many who have lost, or all. The government is reviewing the regulations because they want to know about each transaction in order to tax them all. Everyone owes a lot and is forced to make money.

To date, the cryptocurrency market has avoided many of the financial problems and pitfalls of government and traditional banking, and Blockchain technology has the potential to solve more problems.

A great feature of Bitcoin is that the creators chose a limited number of coins that could ever be created – 21 million – thus ensuring that this cryptocurrency can never be inflated. Governments can print as much money (fiat currency) as they want and inflate their currency to death.

Future articles will delve into specific recommendations, however, don’t make a mistake, investing early in this sector will only be for your most speculative capital, the money you can lose.

CRYPTO TREND will be your guide if and when you are willing to invest in this market space.

Stay tuned!

Can I Create My Cryptocurrency?

To help you stay in shape for your cryptocurrency, here are some things to follow.

Build a Blockchain

The first step in creating the best cryptocurrency is to build a blockchain. Blockchain technology is the cryptocurrency you see in the world today. A blockchain contains the details of each cryptocurrency.

It is a booklet that shows the background of each cryptocurrency you have. It also shows you more details about who owned the cryptocurrency before you. The best cryptocurrencies have very efficient blockchain technology.

Code

All the software you see on the internet is made with a code. This is the case with cryptocurrency. Fortunately, most cryptocurrencies are made using the same code. Mostly cryptocurrencies are made using C ++ code. You can outsource all the code you need from GitHub and use it to make your own cryptocurrency. However, the code will be different from your specifics. If your blockchain is longer and faster, you need to add programs to do so. Generally, programs can change from a week to a few months when making a blockchain.

To make the best cryptocurrency, you need to make sure that you put the highest level of security to be observed. Hackers are everywhere and it is always your mission to alienate hackers. A powerful tool used to alienate hackers is the use of a private and public key. This is because each key is generated from the previous key. Through cryptography, each key can be tracked from the first transaction made.

You should also make sure that you create a set of miners. For a stable cryptocurrency like Bitcoin? anyone can be a miner. A miner does two things.

-Creates crypto currency

-Authenticates cryptocurrency.

You need to complete a standard way to create and authenticate your cryptocurrency.

Access the needs of the Market

Many cryptocurrency experts have said that the most important thing is to access the needs of the market. You should be enthusiastic and see what other cryptocurrencies don’t offer and offer it yourself. If we look at the largest cryptocurrency on the market, bitcoin today.

It was created to bring a faster transaction to the online world. Bitcoin also gained a lot of recognition because it was able to hide the identity of users. They remained anonymous, but a legal transaction could still be made. These are the most important parts to consider when creating a cryptocurrency.

To make a very successful cryptocurrency, you need to make sure that you are capable of proper marketing of your cryptocurrency. This means going to merchants and asking them to accept your cryptocurrency as a form of payment. These are generally some of the best ways to create a cryptocurrency.

Why Should You Trade Cryptocurrency?

The modern concept of cryptocurrency is very popular among traders. A revolutionary concept presented to the world as a secondary product by Satoshi Nakamoto became a success. We understand that decoding cryptocurrency is something that is hidden and that currency is a means of exchange. It is a form of currency used in the blockchain created and stored. This is done through encryption techniques to control the creation and verification of the transaction currency. Bit coin was the first cryptocurrency to be created.

Cryptocurrency is just one part of the process of a virtual database running in the virtual world. Here the identity of the real person cannot be determined. Moreover, there is no centralized authority that directs cryptocurrency trading. This currency is the equivalent of hard gold stored by the people and its value is said to increase by leaps and bounds. The electronic system established by Satoshi is decentralized, where only miners have the right to make changes, confirming the transactions initiated. They are the only provider of human touch in the system.

It is impossible to counterfeit cryptocurrency because the whole system is based on hard core math and cryptographic puzzles. Only people who are able to solve these puzzles can make changes to the database, which is impossible. Once the transaction is confirmed, it becomes part of the database or blockchain, and then cannot be returned.

It is just digital money created with the help of cryptocurrency encryption technique. It is based on a peer-to-peer control system. Let us now understand how beneficial it can be to trade in this market.

It cannot be reversed or falsified: Although many people may deny that transactions are irreversible, but the best thing about cryptocurrencies is after the transaction has been confirmed. A new block is added to the block chain and then the transaction cannot be falsified. You become the owner of that block.

Network transactions: This not only makes it convenient for anyone sitting anywhere in the world to make transactions, it also speeds up the speed of processing transactions. Compared to the real time you need to include a third party in the photo to buy a house or gold or take out a loan, you only need a computer and a potential buyer or seller in the case of cryptocurrency. This concept is easy, fast and full of ROI options.

The fee is low for each transaction: Miners take a low or no share in transactions, which is what the network takes care of.

Accessibility: The concept is so practical that everyone with access to smartphones and laptops can access the cryptocurrency market and exchange it anywhere at any time. This accessibility makes for even greater performance. While the ROI is commendable, many countries like Kenya have introduced the M-Pesa system, and now one in three Kenyans can afford to have a coin purse.

Bitcoin Brokers – Understand the benefits of CryptoCurrency trading

Bitcoin is a cryptocurrency that can be spent, saved or invested, and can also be stolen. Trading with bitcoins was considered risky, but current trends show that it has been a great success in the binary options sector. This decentralized currency is not owned by any government, not even by a central authority.

What determines the price of Bitcoins?

The price of Bitcoin is determined by the ratio of supply and demand. The price goes up when the demand goes up, the rate goes down when the demand goes down. Bitcoins in circulation are limited, and new ones are generated at a very slow pace. Since it does not have enough money reserve to move the market price, its price can be very variable.

Bitcoin trading is popular –

  • Low risk of inflation – Inflation is the biggest problem for traders because all currencies lose part of their purchasing power when reserve banks continue to print more currencies. Since the Bitcoin minting system is limited to 21 million Bitcoin, it has almost no effect on inflation.
  • low risk of collapse – Currency fluctuations depend on the government’s trade policies, which sometimes lead to hyperinflation, as well as the collapse of the currency. Bitcoin is a virtual universal currency that is not regulated by any government.
  • Simple, safe and cheap – Bitcoin payments are made peer-to-peer without intermediaries, which is why it is easy and cheap.
  • Easy to carry – Bitcoins worth millions of dollars can be carried in your pocket in a memory retreat. This cannot be done with gold or cash.
  • Detectable – The issuance of Bitcoin is not regulated by any government, so the risk of hijacking is pure.

Bitcoin binary options trading platform

Binary options brokers are becoming aware of the popularity and ongoing ups and downs of these Bitcoins. Therefore, they are using this option to offer merchants as a complementary payment method with the latest volatile cryptocurrency. The Bitcoin brokers that offer cryptocurrency as a trading opportunity are:

  • One-touch option – Bitcoin trading can be done with AnyOption or one-touch option. For example, the current currency pair is BTC / USD.

  • SetOption – The last option available for asset trading is BITCOIN / USD.

Bitcoin brokers offer a simple online trading platform. All you have to do is visit their website, enter your details and create an account. You can start with a demo account to understand the action of the market.

The trading screen is simple.

  • Choose price direction (UP / DOWN)

  • Select the time interval

Is Bitcoin trading safe?

The Bitcoin network is probably the largest computer expansion project in the world. The most common vulnerability here is user errors. Bitcoin wallet files can be accidentally lost, stolen or deleted just like any other file in digital form.

However, users can use security strategies to protect their money. Alternatively, you can select service providers that offer high security, as well as insurance against loss or theft.

Surviving Beyond the FOMO – How to Choose a Winning ICO Project for Long-Term Value

In a world driven by hippies and FOMO [Fear Of Missing Out]It is becoming increasingly clear that a responsible cryptocurrency enthusiast needs to prove that choosing a token can help you find a viable project that is difficult to find and that good projects with long-term prospects are even harder to help in a money-grabbing world. ‘shit coins’.

With the recent evolution, with most new cryptocurrencies setting record lows and new ICO Projects not receiving applause after Crowdsale, it is now common for disappointed “investors” on social media to blame ICO promoters rather than blame. for not doing their due diligence to select a likely post-crowdsale winner before purchasing a token during their ICO.

From my broad observation, most crypto buyers simply bought coins based on an FOMO (Fear of Missing Out) based on an ICO based on the FOMO (Fear of Missing Out) created by the hype masters behind those coins. Many bought the coin without understanding the post-ICO purpose, or what the token had to do after Crowdsale. When nothing happened after the ICO, as is now the case for many ICOs, they jumped on social media to shout the bloody murder.

Recently, my team and I have just completed a tour of Africa and some parts of the US to promote the Nollycoin ICO. We organized and sponsored various workshops, held live AMA (Ask Me Anything) press meetings, and held many one-on-one meetings with Crypto Whales, small investors, and millions of cryptocurrencies of all colors.

All in all, one thing that surprised me more than anything else was that MOST of the token owners were NOT behind the token sales involved in the underlying business or project.

Even rarer in my observation, it was surprising that many could not say the value proposition of the project, its goals or the company’s plan to disrupt the market and capture some of the buyers in their industry. They simply bought the ICO because the various telegrams or Facebook pages they visited told them to “Buy”. Hodl and buy more ‘. Most simply acted with her instincts instead of objective deliberation.

Now, if most of the people I’ve met were teenagers or uneducated people, I wouldn’t be so surprised by the levels of ignorance of many of the crypto “investors” I’ve met. On the contrary, I met many of them who were university graduates and some of them. However, less than 10% of them could easily say why they bought a coin because it would increase in value over time. Everywhere I went, very few people told me the name, experience and ability of the corporate directors of the company that sells coins.

The only thing most could point out was that the coins were recommended by “respectful” agents, when events proved that most of them paid for chills to create FOMO and otherwise useless shitcoins to create respectability.

Beyond what are called fake influences, many crypto buyers knew that the names of the group leaders were Russian, Chinese, or Korean, even though they knew nothing about them. All you need to be a successful ICO is to list the names of people from Korea or China or Russia that no one else could verify with a simple Google search.

While I agree, there are certainly many things to consider when deciding whether a project’s tokens will increase in value over time, I think the acid test and immediate evaluation criteria should be outside the scope of what would happen to the coin’s availability. in crypto exchanges.

Even though most of the crypto token owners I’ve met didn’t know it, the reality is that if you bought a token from most ICOs, you weren’t really “investing” in that company. You would not buy the shares of the company and you would not buy any security from the company.

And, at best, what you are doing when you buy tokens in most ICOs is to “donate” to a project in exchange for giving a utility token or coin that has no real value beyond the business ecosystem legally controlled by the issuing company.

In a nutshell, in addition to the expectation that the price of tokens will rise to “moon” or millionaire, there is nothing else you can do to enjoy the added availability of the ICO company with the token, if any.

Since no one could have been sure how Crypto would work in a cryptocurrency exchange when it finally got there, and recent experience has shown that most token prices would probably go into an exchange and plunge in the first few weeks (due to high speculative sales), it would make sense from your token. explore what value or usefulness you can derive from it beyond the expected “moon” in return.

As the cryptographic revolution continued to revolutionize, transform, and adapt to different market developments, the only way to ensure that your money is not wasted is to ensure that you can still use these tokens for great value and benefits. even if you sold it immediately in exchange for a profit.

In making this specification, you need to ask yourself this key question: What is the value, product, or service that the company that sells the token generates to make it worth this purchase that will give me enough value for my cash?

In a world where token prices are falling in different exchanges, the more chances you have of getting a real-life use of a token outside of the expected list of cryptocurrencies, the more likely you are to be frustrated or not. tokens that are useless to you.

So you have to ask again and again: if this coin was ever traded in an exchange, would I be happy because I accept the view? If this token has lost 70% of its value in an exchange, can I still use it and get the value of my money elsewhere?

If you couldn’t answer these questions positively after reviewing the EXAMINATION and investing in the company’s claims, then you should think twice before buying that coin.

Final case study

Take a current ICO like Nollycoin, which is a token that drives a Blockchain-enabled movie distribution ecosystem. Coin promoters have created different utility scenarios for coin buyers to ensure that Nollycoin does not have what happens in crypto exchange, to ensure that their sponsors and token owners will continue to smile.

Nollytainment ecosystems are among the major utilities attached to the Nollycoin token

• Ability to use Nollycoin tokens to watch exclusive movies in cinemas and movie theaters

• Ability to use Nollycoin tokens to access 1,000 movies in the Netflix-on-steroids blockchain Movie distribution.

• Ability to use Nollycoin tokens to purchase NollyMall products and services, which is like the Amazon platform for entertainment-based products.

• Ability to use Nollycoin tokens to pay school fees on the NOLLY Academy platform and business partners

As you can see, beyond the ordinary expectation that tokens can be listed on a crypto-exchange platform, you need to look beyond the hype of an ico behind the immediate and prospective usefulness of the token and the viability of the underlying project.

Cryptocurrency: Fintech Disruptor

Blockchains, sidechains, mining – clandestine cryptocurrency terminologies continue to accumulate for minutes. While it may seem absurd to introduce new financial conditions into a complicated financial world, cryptocurrencies offer one of the biggest obstacles to today’s money market: the security of transactions in the digital world. Cryptocurrency is a defining and groundbreaking innovation in the fast-moving world of fine technology, an appropriate response to the need for a secure medium of exchange in the age of virtual transactions. At a time when demand is just numbers and numbers, cryptocurrency is proposing to do just that!

In the most basic form of the term, cryptography is a proof-of-concept virtual currency of alternative currency that promises secure and anonymous transactions through a peer-to-peer network. The wrong name is a property rather than a real currency. Unlike everyday money, cryptocurrency models operate without central authority as a decentralized digital mechanism. In a distributed cryptocurrency mechanism, money is issued, managed, and supported by a community-like collective network – known as its ongoing activity. mining on the machine of a peer. Successful miners also receive coins in appreciation of the time and resources used. Once used, the transaction information is transmitted to a network block chain under a public key, preventing each coin from being spent twice by the same user. Blockchain can be considered as an ATM record. The coins are backed up by a password-protected digital wallet that represents the user.

The supply of coins in the world of digital currency is decided in advance, without manipulation, by any person, institution, government institution and financial institution. The cryptocurrency system is known for its speed, as transaction activities on digital wallets can make funds work in minutes, compared to a traditional banking system. It is also largely irreversible because of the design, further reinforcing the idea of ​​anonymity and eliminating more opportunities to return the money to the original owner. Unfortunately, notable features – speed, security, and anonymity – have turned cryptocurrencies into a form of transaction for many illegal businesses.

Similar to the real-world money market, currency rates are changing in the digital currency ecosystem. Due to the limited number of coins, as the demand for currency increases, the coins inflate in value. Bitcoin is the largest and most successful cryptocurrency to date, with a market capitalization of $ 15.3 billion, capturing 37.6% of the market and is currently priced at $ 8,997.31. Bitcoin hit the currency market in December 2017, selling for $ 19,783.21 per coin, before facing a sharp drop in 2018. The decline was partly due to the rise of alternative digital currencies such as Ethereum, NPCcoin, Ripple, EOS, Litecoin and MintChip.

Because of the encrypted limitations in their supply, cryptocurrencies are believed to follow the same economic principles as gold – the price is determined by limited supply and fluctuations in demand. With the constant fluctuations in exchange rates, their sustainability is yet to be seen. As a result, investing in virtual currencies is more speculation at the moment than a daily money market.

In the wake of the industrial revolution, this digital currency is an essential part of the technological divide. From the point of view of a casual observer, this rise can be exciting, threatening, and mysterious at the same time. While some economists remain skeptical, others see the money industry revolution as lightning. Conservatively, digital currencies will shift roughly a quarter of the national currencies of developed countries by 2030. This has already created a new asset class alongside the traditional global economy and a new set of investment vehicles will come from cryptocurrency in the coming years. Recently, Bitcoin may have come down to give focus to other cryptocurrencies. But this does not indicate the failure of the cryptocurrency itself. While some financial advisers stress the role of governments in regulating the central government mechanism to break the clandestine world, others call for the current free flow to continue. The more popular cryptocurrencies are, the more control and regulation they attract – a common paradox that distorts the digital note and erodes the main purpose of its existence. In any case, the lack of intermediaries and oversight is making it incredibly attractive to investors and changing day-to-day trading tremendously. Even the International Monetary Fund (IMF) fears that the cryptocurrency will be relocated by central banks and international banks in the near future. From 2030 onwards, the traditional commercial crypto-supply chain will dominate, which will offer less friction and more economic value among technologically skilled buyers and sellers.

If cryptocurrency is to become an essential part of the existing financial system, it will have to meet very different financial, regulatory and social criteria. Against the hacker, he must be respectful of the consumer and highly protected in order to offer his basic benefit to the mainstream money system. It should preserve the anonymity of users to launder money without being a means of tax fraud and internet fraud. Since they are essential for the digital system, it will take a few more years to understand whether cryptocurrency can compete in real-world currency in full swing. Although likely, the success (or lack thereof) of cryptocurrencies will determine the fate of the monetary system in the coming days.

Preparing for a cryptocurrency world: Chinese edition

Last year, the cryptocurrency market took heavy punches at the hands of the Chinese government. The market took success like a warrior, but the combinations have affected many crypto-currency investors. The poor performance of the 2018 market pales in comparison to the one thousand percent star earnings in 2017.

What happened?

Since 2013, the Chinese government has taken steps to regulate cryptocurrency, but nothing compared to what was established in 2017. (See this article for a detailed analysis of the official note issued by the Chinese government)

2017 was a full year for the cryptocurrency market with all the attention and growth achieved. Extreme price volatility forced the Central Bank to take more extreme measures, including a ban on initial coin offerings (ICOs) and restrictions on domestic cryptocurrency exchanges. Shortly afterwards, Chinese mining factories were forced to close, citing excessive electricity consumption. Many exchanges and factories have been relocated abroad to avoid regulation, but they have been made available to Chinese investors. However, they have yet to escape the clutches of the Chinese Dragon.

In a recent government-led effort to control and ban cryptocurrency trading among Chinese investors, China has launched an “Eagle Eye” to control foreign cryptocurrency exchanges. Companies and bank accounts that are suspected of transacting with foreign cryptocurrencies and related activities receive measures ranging from limiting withdrawal limits to freezing accounts. There have also been constant rumors among the Chinese community about the extreme measures to be put in place on foreign platforms that allow trading among Chinese investors.

“To find out if there will be more regulatory measures, we will have to wait for orders from higher authorities.” Excerpts from an interview with the head of the team of the Chinese Public Information Network Security Agency under the Ministry of Public Security on 28 February.

WHY WHY WHY !?

Imagine that your child invests his savings in a digital product (in this case, cryptocurrency) that has no way to verify its authenticity and value. He could be lucky and get rich, or he could lose everything when the cryptographic bubble bursts. We are now scaling that to millions of Chinese citizens and millions of Chinese Yuan.

The market is full of scams and unnecessary ICOs. (I’m sure you’ve heard of people who send coins to random addresses, with a promise to double their investments, and ICOs that don’t make sense). Many unknown investors are in exchange for money and the technology and innovation behind it would not matter. The value of many cryptocurrencies comes from market speculation. In the crypto boom of 2017, take part in any ICO with a reputable advisor, a promising team or a decent hype and you are guaranteed at least 3X your investment.

The lack of understanding of the company and the technology behind it, along with the proliferation of ICOs, is a recipe for disaster. Members of the Central Bank have reported that almost 90% of ICOs are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants to make the cryptocurrency “controllable” and not too big to fail in the Chinese community. China is taking the right steps towards a more secure and regulated world of cryptocurrency, despite being aggressive and controversial. In fact, it may be the best move the country has made in decades.

Will China issue an ultimatum and make illegal cryptocurrency? I highly doubt that doing so is quite useless. Currently, financial institutions are prohibited from possessing any crypto assets while authorized by individuals, but they are prohibited from engaging in any form of trading.

State cryptocurrency exchange?

In the two annual sessions, the two main parties: the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPCC) both participate in a forum held in the first week of March ‰‰, leaders. to do.

Wang Pengjie, a member of the NPCC, internalized the prospects of a state-owned digital asset trading platform, as well as launching blockchain and cryptocurrency education projects in China. However, the proposed platform would require an authenticated account to allow trading.

“By implementing related regulations and in collaboration with the People’s Bank of China (PBoC) and the China Securities Regulatory Commission (CSRC), a regulated and efficient cryptocurrency exchange platform would serve as a formal way for companies to raise funds (through ICOs) and investors their digital assets. to achieve content and capital appreciation ”Excerpts from Wang Pengjie’s presentation in Two Sessions.

Blockchain March for a Nation

Governments and central banks around the world have struggled to cope with the growing popularity of cryptocurrency; but one thing is for sure, everyone has accepted the blockchain.

Despite cryptocurrency repression, the blockchain is gaining popularity and adoption on several levels. The Chinese government is supporting blockchain initiatives and adopting technology. In fact, the People’s Bank of China (PBoC) has been working on a digital currency and has conducted simulated transactions with several commercial banks in the country. It is still unconfirmed such as anonymity and immutability that will decentralize digital currency and offer cryptocurrency features. It wouldn’t be surprising if China was just a digital Yuan, anonymity is the last thing China wants in its country. However, created as a close substitute for the Chinese Yuan, the digital currency will be subject to the monetary policies and laws in force.

Governor of the People’s Bank of China, Zhou Xiaochuan. Source: CNBC

“Many cryptocurrencies have experienced explosive growth, which can have a huge negative impact on consumers and retail investors. We don’t like products (cryptocurrencies) that take advantage of the tremendous opportunity for speculation that gives people the illusion of enrichment overnight.” Interview with Zhou Xiaochuan on Friday, March 9th.

On Friday, March 9, the governor of the People’s Bank of China, Zhou Xiaochuan, in a media appearance, criticized cryptocurrency projects that took advantage of the cryptocurrency boom to charge and feed market speculation. He also noted that the development of digital currency is “technologically unavoidable”.

At the regional level, many Chinese cities are pushing blockchain initiatives to boost growth in their region. Hangzhou, known for being the headquarters of Alibaba, has stated that blockchain technology is one of the city’s top priorities in 2018. They have also proposed to the local government of Chengdu city to build an incubation center to promote the adoption of blockchain technology. city ​​financial services.

Local conglomerates Tencent and Alibaba have also partnered with blockchain companies or started projects on their own. Blockchain companies like VeChain have also secured multiple partnerships with Chinese companies to improve supply chain transparency in China.

All the clues show that China is working for a blockchain nation. China has always been open-minded to emerging technologies such as mobile payment and Artificial Intelligence. From now on, China will certainly be the first country to enable blockchain. Will we see the Chinese government back down and let the citizens trade again? Probably when the market is ripe and not so volatile but certainly not in 2018.