Best ICOs to invest

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Frederik Nielsen

Frederik Nielsen has 254 articles published.

Frederik Nielsen
I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.

Blockchain and Virtual Reality

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Blockchain And VR –What’s The Connection?

If we were to question the popularity of VR today, we will come across tons of articles, blogs and statistics in its support online. And they aren’t wrong. It has proven to be an up and coming pattern –all set to take over the world. Everywhere, more and more people are embracing its possibilities enabling it to gain significant market share worldwide.

There was a time, not long ago, when its growth was prevented due to lack of high-quality 3D images. VR designers used image repositories but they failed to deliver a high-quality image. Moreover, they were too overused.

But this is not the case today. 3D technology is improving by the day, making images exceptionally remarkable. As more and more image creation hardware is funded for, it will no longer remain a dream for Technocrats to see the world from a VR perspective.

Uses of VR Technology

VR is no longer just for games or gimmicks. Its extensive range of applications is used in multiple industries to give the world the access it lacked before.

For instance, it is used in training of workers in conditions that are too hazardous. Home hunters can walk through every room of the potential house without actually stepping out of their own. It also has the aptitude to battle irrational worries and allows people to combat their most frightening fears. There are several other describable scenarios but first, let’s find out what potential it holds for development.

VR’s Development Potential

Its potential for growth in the near future seems promising. Google statistics show that the lower-end market for VR is enormous.

But it still hasn’t equaled analysts’ predictions. This is the result of a shortage of innovation, investment and image production. It also craves more access to the marketplace and in the people’s minds.

Obstacles Averting Its Development

A number of challenges obstruct its development. For starters, the most exceptional hardware is pricy. Hardware for the recording of 3D images is a must too. Next, the quality and access to images is also a constraint. VR designers are forced to utilize poor quality images since those are free of cost or available at standard prices. Image depositories that do own high-quality images charge high. Instead of compensating developers accordingly, they benefit from their work.

What are the Available Options?

The first and foremost requirement for the VR technology to bloom is a 3D image depository. It will enable developers to both create and monetize images using peer-to-peer access. A company that offers exactly that is Cappasity.

The company’s vision is to develop a platform for VR developers to create, monetize, publish and promote their designs. Developers serve as sellers and companies wishing to buy their designs are buyers. Upon buying a design, the buyer has the full right to use and modify the designs.

The company is currently going through the SEC Compliance process to allow US residents to also take part in the sale.

Cappasity has also invested in a new image-capturing technology that will create eye-catching 3D images with ease. The images can be captured right from a phone

With promising chances of growth and development, companies like Cappasity assist in awareness and profitability both.

What Is SegWit?

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What Is SegWit?

We decided to write an article about one of the most important step in Bitcoin history, in which we will try to convey to you the idea of how scaling the Bitcoin network will affect the cost of this cryptocurrency. Yes, you understood correctly, today we will talk about the very SegWit, about which you can read now, on almost any resource related to finance. But first, let’s try to figure out what this scaling is all about.

What is the primary challenge?

At the moment, the Bitcoin network is gaining increasing popularity among the world’s population, and in this regard, the Bitcoin network faces a problem in processing transactions and their value. Because of this problem, there are very often delays in conducting transactions, which cannot please users and increase the pace of network development. In order for you to understand the essence of the problem, we give figures on processing transactions of other payment systems, such as VISA processes up to 4,000 transactions per second, PayPal up to 100 transactions, the Bitcoin network processes a paltry 3 transactions per second, which forces users to increase the amount of commission for more prompt confirmation of transactions.

SegWit’s solution

To solve this problem, a considerable number of conferences and meetings were held, where a wide range of options and versions were discussed. Among them were the versions proposed by Bitcoin Unlimited, Bitcoin XT and Bitcoin Classic – the main task is to solve the problem of network scaling. But the most interesting of all was the Peter Welle version, which he voiced at a workshop at Scaling Bitcoin in Hong Kong. It was this person who proposed to update the Bitcoin protocol, under the name SegWit. What is SegVit? Segvit is, to put it bluntly, a superstructure over the existing Bitcoin protocol, which helps to “pump” this network in order to improve network bandwidth, while not disturbing the main block chains. The main idea of this software fork, namely this phrase, it is accepted to call Segvit, is to update the block size of 1 MB, to a volume of four thousand units. This change is not the only one, because in parallel with this SW increases the network bandwidth, its security and corrects the plasticity of transactions, thanks to a change in the transaction identifier. But in order to implement this plan, developers need the support of 95% of the miners of the network, which is a barrier to the production of this software fork, because, at the moment, confirmation has been received from a little less than 40 percent of the “digital gold miners”.

Summary

The whole world is looking forward to August 1, 2017, because on that day, SegWit will be launched, which in turn can split Bitcoin into several parts, because not all miners support SegWit. Therefore, there are often options with BIP91, BIP148, and other development options. Against the background of these events, the Coinbase cryptocurrency exchange sent its user a notification in which they offered users to exchange bitcoins for fiat currencies and stop operations for 7 days, because before August 8, according to preliminary calculations, the software of the first world cryptocurrency will be held.

We cannot know exactly what will happen on the Bitcoin network in a week, but we can look at the experience of using Segvit using the example of other cryptocurrencies. So a similar procedure has already been tested on Litecoin cryptocurrency – which is most similar to it. By the way, these are the events that have recently attracted the attention of miners to digital silver. Viacoin and digibyte underwent this procedure even earlier, which led to the rapid growth of cryptocurrency data. In order not to mislead you, or to influence your decision, we simply refrain from presenting our thoughts about this event, and we will not express the opinion of highly respected experts in the field of cryptocurrencies. Therefore, as it is sung in a famous song: “Think for yourself, decide for yourself whether to have or not to have.” With you was a blog BitBetnews, see you.

How To Store XRP: A Guide To Ripple Wallets

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ripple wallets

How To Store XRP: A Guide To Ripple Wallets

The imbalances in the purchase and selloff in XRP has made it obvious that the demand and popularity of RippleNet are on the rise. All of this to the advantage of the various crypto sellers who capitalizes on the shift in the demand for XRP and are plowing in their well-deserved benefits. The best sort of motivation in business is profit, and this applies to the Crypto market as well. Interestingly, after purchasing your XRP, you will need to keep them safe and well protected. To do this, you will need to make use of a crypto wallet.

A crypto wallet is a decentralized safe that can be used by owners to safeguard their electronic key. The wallet makes the owner responsible for safeguarding their own key and are liable for any harm that occurs to the contents of the safe. Crypto wallets are categorized into various classes, and they include:

ripple wallets

Ripple desktop wallets

 The desktop wallets are one of the best wallets for the trading cryptocurrency. Essential features of the ripple desktop wallet include a standby withdrawal account and a real-time deposit. These two features ensure the relevance of the ripple desktop wallet to trading XRP.

  1. Exodus Wallet: Primarily, the Exodus wallet is made up of the following:
  2. Over 20 cryptocurrency aid for XRP including BTC, ETC, and LTC.
  3. Fast and strong charting tools
  4. Good interface
  5. A good choice for managing the portfolio and trading cryptocurrencies
  6. Well established and easy to use orientation product
  7. Suitable for new users
  8. Users do not have to be online every time. They can always log out in the absence of any task.

Cons

  • Security: the exodus wallet is not really secured as it does not feature the basic two-factor authentication.
  • Jaxx Wallet: The Jaxx is often recommended for beginners and new traders. It features:
  • About 85 tokens and XRP currency assistance
  • It is compatible with different devices like the Desktop, IOS devices, Google, and Android devices.
  • The security is updated frequently
  • An active community and a wide fan base on the telegram, Reddit, Twitter, Facebook, and YouTube.
  • Brilliant fusion with the Shapeshift crypto transaction

Online/Web Wallets

The endearing qualities of the Web wallets include accessibility and convenience. Not all crypto wallet can boast of XRP pair margin trading like the Web Wallet. They are one of the safest means of storing your wallet contents and can be accessed without stress.

  1. Toast Wallet: Features of the Toast wallet:
  2. It supports only the Chrome browser
  3. Can work on various devices like Mac OSX, Apple, Linux, and Windows.
  4. The private key can be recovered easily
  5. Easy registration
  6. Suitable for beginners and new traders
  7. Jaxx wallet: Features of the Jaxx wallet includes:
  8. Safe and easy for novices and newbies
  9. Limits hacking through the implementation of its no download version.
ripple wallets

Mobile Wallets

The mobile wallet is similar to the online wallet, except for a few modifications. Features of the mobile wallets are:

  • Suitable for new users
  • Accessible via smartphone services
  • They are mostly mobile-based.

The following are the forces to be reckoned with as far as the mobile wallet is concerned:

  1. eToro: Unlike the Exodus wallet that supports over 2o currencies, eToro supports just Eth, BTC, BCH, and LTC. Some of the fascinating features of the wallet include:
  2. Easy and convenient to use
  3. Cryptocurrency conversion is primary
  4. Works well with Android and IOS
  5. Security is enhanced with the use of tailored blockchain address property.
  6. It is approved and endorsed by the Gibraltar Financial Services Commission.

Cons

  • Does not allow XRP/USD fiat cash pairing
  • Bitfinex: The level of advanced and yet simple innovation that is tied to Bitfinex makes it one of the key wallets in the market. Some of the features include:
  • Wallet variations encourage funding, exchange and trading services.
  • USD assistance
  • Fast and seamless transactions
  • Registration via QR codes
  • Two-factor authentication as a security
  • API key generation for security
  • Unrestricted entry into the world of Bitfinex cryptocurrency market
  • Supports Android and IOS which can be downloaded from Google play

Cons

  • The process of recovery can be quite long.

Hardware XRP wallets

As the name implies, the wallets are hard, visible, and can be carried from one place to another in an external storage memory. They are carried about in an offline state and are therefore safe and convenient.

Some of the wallets are:

  1. Ledger Nano S: it comes in the form of a USB storage and has the following advantages:
  2. Supports about 10 languages
  3. It can be locked by using a PIN
  4. Different currency assistance
  5. Easy to use by beginners
  6. Is protected from hazards that might result from tampering
  7. Easy to restore and backup
  8. Coinvest: Features includes:
  9. Supports Linux OS
  10. Supports a cryptographic coprocessor
  11. Supports FIDO/U2F for security
  12. Supports different currencies
  13. 4.3 LED screen touchscreen
  14. Can be connected to the desktop or mobile phone via a USB.

How To Analyze ICOs

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How To Analyze ICOs

With the massive proliferation of blockchain technologies, startups have a new way to raise capital – initial coin offer (ICO). During ICO, companies offer a wide range of investors their own cryptocurrency (tokens) to finance a project.

Site Evaluation

The ICO face of any project is his site, so the assessment should start with him. As a rule, the site contains information about the project, contact details of its creators and an offer to purchase tokens.

White paper

The most important thing to learn is the White Paper of the project. The white paper should reveal the whole essence of the project, from the general idea to the technical details. It must clearly and clearly state the goals, identify the business plan, the main markets that the product is aimed at, as well as the stages of financing. Project objectives should be logical and achievable.

A good sign is the presence in the White Paper of a part of the code or a link to the repository and technical details of the project.

A bad sign is the vagueness of the wording or a clear misuse of terminology, which is often used to hide the lack of meaning.

The project team

A well-chosen team provides about half the success of the project, so it is important that the site contains information about its members with a detailed background and contact information. Even better, if this team, or at least one of its members, already had successful projects in the field of blockchain.

Road map

In addition, the sites of reliable ICO contain a roadmap, which describes the stages of funding, the tasks for which it is necessary, as well as the timing of their implementation. Here you need to pay attention to whether the objectives of the roadmap are consistent with the overall objectives of the project and whether they can be implemented within the planned time frame.

Token Evaluation

If you are confident in the reliability of the company and the viability of the project, you can proceed to the study of the tokens themselves. First of all, it is worth understanding what possibilities the token offers and how it will be used in the project ecosystem. For example, the startup token Eros offers holders a part of the profits and a discount on the project services, and also serves as the local currency for payments.

And the tokens of the ICONOMI digital asset management platform will be subsequently simply bought out by the company itself with a premium. Both of these options provide the value of coins while projects are operational.

If this is all right, then you should pay attention to the distribution of shares between investors and creators. A company should not place too large or too small a portion of tokens on ICO As a rule, in good projects the share of investors is 70−80% of all coins, the rest remain with the team. This scheme provides a good balance between attracted investments and the interest of the creators in the further development of the project, increasing its chances of survival.

What is Bitcoin: Understanding The Basics

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what is bitcoin

The basic understanding of anything begins with a definition; so what is Bitcoin? Well, Bitcoin is the pioneer of cryptocurrencies. It is the most valuable and renowned one among the entire cryptocurrency world. Though there are some controversies which says that the only existing cryptocurrency is Bitcoin and others are the tokens called Altcoins. However, Bitcoin is not an alternative of any currencies; rather it is a record of a transaction between two parties.

what is bitcoin

History of Bitcoin

The history begins with the creator of Bitcoin. An unidentified identity named Satoshi Nakamoto is the creator of Bitcoin. Now, Satoshi Nakamoto is an individual programmer or a team of programmers, never been discovered. There has been a lot of speculation regarding the true identity of the founder but none ever come to a confirmed conclusion.

Functioning of Bitcoin

Bitcoin functions through blockchain technology. The blockchain is a digital ledger for recording transactions stored individually in a block of data. All the data turns into a chain form of blocks and becomes a blockchain. It is a decentralized system without any governance of any single personnel or institution.

Storing Bitcoin

Like physical currencies, storing Bitcoins also require wallets but this wallet works differently than the conventional wallet for your cash. It stores a private key rather than storing Bitcoin tokens. The private key enables the access of Bitcoins which is stored on the Bitcoin blockchain. So you can receive your Bitcoins to your wallet passing through a public key or genuinely known as Bitcoin wallet address.

Acquiring Bitcoin

You can find several ways to acquire Bitcoin tokens. The most popular method is to purchase them from cryptocurrency exchanges. These exchanges will allow you to trade your fiat money for instance USD or EUR or any other cryptocurrencies for Bitcoin barter. You can try another method. This involves direct purchase from the buyers and sellers on a peer-to-peer exchange platform just like LocalBitcoins. Even you can find Bitcoin ATMs in larger cities to give you the opportunities for buying and selling Bitcoins. Lastly, you can go for a personal meeting with a trader and trade Bitcoin for cash.

Mining Bitcoin

Bitcoin mining is the practice of verifying the transactions of Bitcoin engaging power computers. This operates with a machine referred to a node along with a driving force behind the Bitcoin network. As soon as a Bitcoin transaction is made the Bitcoin miners will compete of crunching the transaction data down to a ‘hash’. The hash is basically a string of code containing all the information relating to the transaction. Once a miner generates a hash, the Bitcoin holder gets a reward for their efforts.

Advantages of Bitcoin

Bitcoin has a good reputation because of its security and cheaper transfer capability. The decentralized nature of the cryptocurrency makes it totally difficult to hack. The transactions are verified by the use of consensus from the various nodes on the network. If any of a node becomes corrupted or manipulated, the entire system needs to be rectified for the mistake.

Disadvantages of Bitcoin

The one and biggest issue which you can face in the Bitcoin network is the lack of scalability. Even though Bitcoin works fine for most of the users but there are some huge gaps between Bitcoin and the likes of Visa and MasterCard. The Bitcoin network has the ability to handle seven transactions in every second compared to any Visa transactions which is 40,000 transactions in a second. Also, there are some problems in the scalability and decentralization lead to a scramble solution for the community.

what is bitcoin

What Are Ethereum Smart Contracts?

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What Are Ethereum Smart Contracts?

A smart contract is just a unit of functionality that you load into EVM. The term “distributed application” or dapp usually describes a front-end application with a graphical user interface that is available for the web or smartphones, which uses EVM as a backend. Unless this is a very simple dapp, its backend functionality will rely on several smart contracts.

A transaction can be called an operation that builds on the pattern “if … then …”. The same thing can be called a contract, a contract, conditions – as anyone is accustomed to. In life, we make deals all the time and not only about money: “If I help you write a diploma, you will give me your PlayStation to play,” “If I lose weight by the summer, I will buy myself a ticket to Maldives” etc.

The main problem of transactions – no one can guarantee the fulfillment of their conditions. Helped a friend with a diploma, and PlayStation was not allowed to play – sit down, take offense, write to the sport lot. I bought a ticket to Maldives and flew there in bold – it’s generally a pleasure to break deals with myself. So thought the creators of Ethereum. And they called it smart contracts.

The smart contract prescribes the reinforced concrete conditions under which the token operates. It is not possible to change these conditions. For example, if you submit a smart contract in the insurance industry, it will look like this. A person who wants to ensure buys a company token. This token gives the right to receive insurance payment upon the occurrence of certain conditions (ie, the fact of an insured event). As a result, the implementation of the token will occur in any case, the insurance company will not be able to rewrite the smart contract and refer to any conditions that cancel the contract.

To date, created a huge number of tokens that operate on the basis of the Ethereum platform, the largest of them: EOS, TRON, VeChain, OmiseGO, ICON.

What is the meaning of smart contracts?

A smart contract is an agreement between the participants of the system that does not provide for revision, i.e. once prescribed, it cannot be changed by any party in its own favor, which means there is no opportunity to trick or deceive any of the participants. Figuratively speaking, a smart contract is a perfectly honest arbiter, it is pointless to dispute it in court because it is simply impossible (in life there may be situations where one of the parties proves that he signed a contract under pressure, in smart contracts this factor is excluded).

A smart contract is an algorithm that is prescribed and approved before it enters the market. It clearly declares the issue of interaction between the parties, specifies penalties and the conditions under which they will be applied. Those. A smart contract is a contract, accepting which the parties clearly follow it without the possibility of changing the conditions.

Who performs smart contracts and how?

It is difficult to understand the entire Ethereum at once, because many things in it are cyclically dependent on each other, unlike Bitcoin. So, smart contracts have a lot of restrictions that are associated with the features of Ethereum-blockchain, which, in turn, guarantees the execution of these smart contracts.

So first, let’s look at the smart contracts, and I’ll tell you about the changed blockchain Ethereum and other things so far incomprehensible below. I promise. Technically, smart contracts are better perceived not assigning a contract, but as the execution of pieces of code. In fact, the contract is the stupid code, the result of which is forever fixed in the blockchain.

A contract can be invoked as a function by performing an online transaction to its address — it will return the result or error to you.

A Guide To Bitcoin Cash Wallets (Updated 2019)

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Bitcoin Cash Wallets

Bitcoin cash is a new separate Blockchain and its currency code is BCH or BCC. The Bitcoin Cash is sent to a Bitcoin cash wallet address. Using the wrong wallet address may cause the loss of your Bitcoin Cash.

It is compulsory that one has a wallet before one starts transactions that may involve buying and selling with Bitcoin Cash. This is because a public address is usually required before funds can be transferred to someone. It is therefore important to mention that your private key/ password must not be given or accessible to anyone except you. Otherwise, scammers would steal everything you have worked hard for in a flash.

Online Bitcoin Wallets are also known as web wallets as they run in your web browser just like any other website. You should not store large amount of bitcoins on the web wallet as it is more prone to cyber-attacks. It is suitable to register with a cryptocurrency exchange having attributes of Bitcoin Cash so as to promote the fast approval of your wallet. To make sure your tokens are secure, try to keep them in a different wallet.

What is a node wallet?

A node Bitcoin Wallet is the most secured way to keep your tokens safe. To get the full benefits Bitcoin provides, it’s better to use a node wallet. This is done on a separate computer system. For your comfort, you can resolve to go for SPV (Simplified Payment Verification) wallet. With this kind of wallet, you don’t have to download the whole Blockchain. It is easier to make use of unlike the others. It’s also safe to use it to store small amounts of bitcoin as desktops are very prone to viruses that can steal the bitcoins.

What about Desktop wallets?

Software wallets are much more secured as they do not show your private keys as long as they are absolutely configured on your smartphones or computer system. Even so, most of the software application sellers would prefer multiple cryptocurrencies and grant you the opportunity to make different wallets.

Hardware Wallets

If you much interested in cryptocurrency security generally, this is the best to go for. It acknowledges two forms of authentication, one being the physical wallet and the other being the PIN code or password as a form of identification. It’s the most secured way to save Bitcoins. The wallets look like regular hard drives but are only used for keeping cryptocurrencies. They have a lot of backup options just to make the users have a more comfortable use. Most Hardware wallets come with a screen to allow you append your signature during transactions.

Node wallets has a lot of benefits in which a user gains from. This benefits are free cash tokens and are gotten when you download the whole blockchain. This is done by backing up the wallet into the wallet.dat file and then transferring the file into Bitcoin wallet and that’s all.

What are Blockchain’s Issues and Limitations?

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What Problems Blockchain do Face?

The blockchain is often spoken of as a completely revolutionary technology, and this is partly true. It has the potential to make significant changes in many sectors of the economy. However, it is hardly worth considering the blockchain as a panacea for all diseases of mankind. Before using this technology, it is worth assessing the associated problems.

What are Blockchain’s Issues and Limitations?

The blockchain, of course, has its own characteristics, which, however, are not unique. If you want to make a registry or database open, validated, resistant to hacking and self-consistent, it is not necessary to use the blockchain for this. And it is absolutely not necessary to decentralize normally functioning systems.

how blockchain tehcnology works

Network Size

Due to the complexity of the system built on the blockchain, due to the encryption used and the distributed nature of the network, transactions in it can be processed slowly — compared to “traditional” payment systems, that is, with cash or credit card payments. Posting a bitcoin transaction may take several hours, which means it will not work with Bitcoins for a cup of coffee – if the seller does not want to take your word, and it was precisely the need to trust the counterparty Bitcoin was meant to save us.

Theoretically, the same applies to other blockchain networks, which are not intended to transfer value, but to store some other transactions or, say, events of the Internet of things. The fact is that a blockchain is, after all, just a computer file, access to which as its size grows and the network of computers that access it grows, becomes slower.

Human Error

Although the revolutionary nature of the blockchain is obvious, in order to understand the cryptographic principles on which it is built, you need to spend some time reading the documentation. Experts are talking about excluding the middleman from traditional financial relations — there is no longer any need to clear payments or examine them for fraud, but in practice, banks do a good job with this function.

It is not by chance that the first blockchain – Bitcoin – appeared immediately after the 2008 financial crisis, amid growing mistrust towards existing financial institutions and instruments. Ten years have passed since then, and nothing like this has happened, so you have to ask yourself: is there now a demand for such radical changes as a complete restructuring of the financial services industry? Yes, the previous crisis was unexpected, and we don’t know what will happen tomorrow – perhaps, some world events will once again settle in the public consciousness a thirst for change.

Politics

Again, this is largely true for the cryptocurrency. Nevertheless, the fact remains that in recent months, in this new volatile world, quite a few have lost money. Due to the absence of any supervision, fraud and market manipulation are common here. For example, you can take the Onecoin project, which, as it turned out, was a financial pyramid – at the same time millions of investors believed that they were dealing with a “new Bitcoin”. As in many other areas related to hi-tech, legislation often does not keep pace with innovations, which creates space for new fraudulent schemes. – It’s good for people who are feverishly trying to invest in a new area, more than enough.

Even if you try to stick to known tokens by speculating on cryptocurrencies, there is always a chance that the exchange or online wallet in which you keep your coins will be hacked, closed by the government for questionable practices or the owners will simply run away with your money. normal supervision in this area.

how blockchain tehcnology works

So, when to use blockchain?

In that case, for example, when you for some reason do not want to create a centralized solution. For example – fear that law enforcement agencies will start to fight with him. There was already a precedent – before Bitcoin there was already a digital currency, Liberty Reserve, which the FBI eventually covered in 2013. In fact, it was the same bitcoin, only “centralized”.

The second option – for some reason you do not trust the “center”. You fear that he will perform the wrong functions that you need, for example.

Well, the third – when a decentralized solution is easier to create. For example – hospitals in a region want to share data about the epidemiological situation. You can break through funding, establish a new structure, buy a large server for it, hire staff to maintain it, etc. But this requires substantial expenses – financial and organizational. It is much easier for hospitals to create a blockchain solution based on existing facilities, the benefit of high performance, in this case, is not necessary.

8 Reasons to Choose Bitcoin

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bitcoin benefits

Any means of payment, be it gold or fiat money, simultaneously plays the role of a repository of values. In theory, money is what measures the value of a product in exchange. Bitcoin for many years has been the foremost cryptocurrency in the whole world, and it also has the status of a pioneer. But still many people do not understand how it is better than the standard money to which we are all accustomed. Consider a few basic parameters by which Bitcoin, like most other cryptocurrencies, exceeds ordinary money.

  • Control
  • Affordability
  • Speed
  • Ease-of-use
  • Security
  • Personal privacy
  • Dependability
  • Investment

Let’s elaborate each point in more detail to find out if Bitcoin is really better than a bank account and fiat money.

bitcoin benefits

Reason #1 – Reliability

The number of coins is programmatically limited to the level of 21 million coins. Last bitcoin will extract, presumably, by 2140. A fixed number of coins and an increase in the cost of their extraction are a guarantee that over time the cryptocurrency will go up, if we assume that over time its popularity does not fall to zero. This can be put in opposition to national currencies that are subject to inflation.

Reason #2 – Investment

The value of an asset must be unconditional, and for this, it must be rare and difficult to extract. And Bitcoin just has a limited amount and with time it gets harder to mine. That is, Bitcoin is in short supply, and this is probably the main condition for the repository of value since it basically reflects the property of the human psyche – to collect something rare and not very common.

Reason #3 – Speed

By manipulating the size of the commission, you can increase or decrease the chances of a quick transaction. If transfer speed is important to you, set a high commission and the transaction will be processed faster. If speed is not critical to you, you can save on commission. The choice is yours.

Reason #4 – Control

Bitcoin does not have a regulator, which can if desired, release the necessary amount of currency to the market or vice versa – withdraw from circulation. Bitcoin exists by itself and is not subject to any institution of government.

bitcoin benefits

Reason #5 – Affordability

At any time you can send funds or make a payment anywhere in the world. There are no restrictions on the time of work or geographical distance of the sender and recipient.

Reason #6 – Ease-of-Use

To accept payments using plastic cards, the store needs to purchase or rent a card reader, enter into an unfavorable agreement with the bank and pay a commission of 3%. For operations in cryptocurrencies, a smartphone/computer and a free wallet are sufficient. Bitcoin is much more convenient for business, and the user does not depend on the bank or the payment system, which can suddenly withdraw the contract or cancel the payment.

Reason #7 – Security

Without a doubt, Bitcoins, like other cryptocurrencies, is a safe and reliable alternative to conventional money and bank accounts. Every year their circulation is growing, and the number of users of digital currencies is increasing exponentially.

Reason #8 – Privacy

When making a transfer, the sender and recipient do not need to provide information about themselves to any third parties. To complete a transaction, you only need the address of the recipient’s wallet, which is a combination of letters and numbers and does not contain data about the recipient of funds.

How To Mine Bitcoin Cash

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How To Mine Bitcoin Cash

Bitcoin cash what is it? It is a completely independent cryptocurrency, which can be used for calculations and mining. Of course, it is currently inferior to Bitcoin in popularity, rate and capitalization.

But if the creators say that the new crypt is more perfect, will it not become the main competitor of the older brother? You can speculate for a long time (usually called analytics). But only time will tell how the situation will develop.

Who created the bitcoin cash?

Bitcoin cash is a product of miners who decided to abandon bitcoin. Getting coins BTC is becoming increasingly difficult. Many miners expressed dissatisfaction and supported the process of creating a new crypt. Bitcoin cash was very convenient for the so-called “schismatics”. Considering that the idea was supported by about 12 percent of miners, creating their own cryptocurrency did not become a problem for them.

Despite the advantages, BCH has serious drawbacks. The main disadvantage is that most of the mining capacities are concentrated in one pool. That is, you can deal a serious blow to the cryptocurrency, destroying the organization. Many people like Bitcoin for decentralization. Destroying this cryptocurrency is almost impossible. The power to create new coins is distributed among multiple pools.

How to mine bitcoin cash?

We speak at once – mining on the computer does not make sense. Given the requests for computing power, your income will be so small that you should not even bother.

What is the best way to mine BCH, you ask? There are several options:

  • On video cards. The most effective way of mining.
  • With the use of the processor.
  • Cloud technologies.

The most effective option – mining on video cards. You can install multiple modules on a farm to improve overall performance. Such a decision pays off much faster and you can start earning revenues.

Is Bitcoin Cash Mining More Profitable?

Mining Bitcoin Cash Today, the rate of the new cryptocurrency has exceeded $ 500, which is why the net price of the coin to be mined has also changed. Today miners began to allocate power for the blocks of this cryptocurrency. Calculations show that mining BCH is about 2% more profitable than ordinary BTC. Moreover, the possible profit may increase if the extraction of a new crypt becomes easier.

For example, at block 479.808 Bitcoin Cash mining will become half easier. Thus, if the cost of both cryptocurrencies remains at the same level, miners will be able to increase profits on BCH by about 50%, compared to a traditional coin. But when calculating the possible income, one should also take into account the difference between the principles of currency operations.

Blockchain BTC implies quite high transaction fees. Accordingly, miners will be able to receive an additional 1.5 BTC for each mined block. With current prices, it’s about $ 6,000. As for BCH, the transaction cost is significantly lower and one unit can only bring in $ 50.

Conclusion

Mine bitcoin cash need on powerful equipment, then the process will be really profitable. Creating new BCH coins is difficult, so most of the currency is mined on industrial farms. Please share the article on social networks, just click the button below. Subscribe to our portal updates to be the first to know about the release of materials.

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