Bitcoin Fork Wants to Help you Earn Interest After Your Digital Cash

Bitcoin Fork Wants to Help you Earn Interest After Your Digital Cash


Bitcoin Fork Wants to Help you Earn Interest After Your Digital Cash

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Bitcoin Interest, the latest spinoff of the first cryptocurrency Bitcoin, aims to lift the interest-bearing benefits of traditional banking and bring them into the cryptocurrency world. Starting with "Bitcoin Cash" last August, Bitcoin has seen around 19 hard forks so far and this year experts predict up to 50 more forks will roll out.

A familiar innovation for the crypto-economy

The main idea behind Bitcoin Interest (BCI) is very similar to that of an interest bearing savings account, with a decentralized approach. If you park your BCI coins for a certain interest period - "weekly or monthly" - the system will proportionally allocate interest payments to its participants.

One of the main advantages of Bitcoin Interest is that there is no set interest rate, and the rate is usually higher than that of a traditional savings account. The interest rate is calculated based on how many coins are generated and placed in the interest pool, and by how many users are participating in the interest round.

Hard forking for a hard problem

While both ICOs and Bitcoin hard forks end up in the creation of a new cryptocurrency, the main difference between Initial Coin Offerings (ICOs) and hard forks is that the latter initiates an immediate value for Bitcoin holders. Hard forks are essentially improving on the Bitcoin blockchain in order to bring benefits such as security, speed and efficiency for the so called 'digital gold'. According to experts, the development of hard forks could further ensure the stability and the maintenance of the decentralized platform which has seen unprecedented growth and reach over the last few years.

Another issue with Bitcoin is the skyrocketing transaction fees - from around 20 cents to about $15 - throughout the course of 2017. Along with other obstacles, this inspired an avalanche of hard forks starting with Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond which was followed by many others.

To overcome the shortcomings of Bitcoin, these forks have attempted to change the blockchain one way or another. For instance, Bitcoin Cash increased the block size from 1MB to 8MB making the processing of a larger number of transactions to be possible within the 10-minute period. This resulted in transactions becoming faster, and also made them cheaper.

Investing into the future

Bitcoin Interest stands out among other forks because apart from the usual reward for mining, investors can also earn interest by parking their BCI coins. This interest earning characteristic makes Bitcoin Interest an appealing choice in the booming cryptocurrency market. HitBTCalready expressed its support in favor of Bitcoin Interest, and Okex, a world-leading digital asset exchange has also agreed to support the snapshot, however, whether or not they will support deposit, trading and withdrawal remains to be seen as that decision is based on the status of the Blockchain after the fork.

Even though the popularity and use of cryptocurrencies has gone through the ceiling in the last couple of years, trust and volatility have remained a serious issue for most of the blockchain industry. With the introduction of Bitcoin Interest, the company offers a type of service which many investors are already comfortable with, but has been missing in the digital currency world - earning interest on their coin holdings. Encouraging people to hold their savings instead of spending them might be able to stabilize the ongoing volatility of the cryptocurrency market and bring much needed assurance to investors.


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World’s Largest Investment Company: ‘Interesting’ Bitcoin Is Under ‘Close Review’

World's Largest Investment Company: 'Interesting' Bitcoin Is Under 'Close Review'

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World's Largest Investment Company: 'Interesting' Bitcoin Is Under 'Close Review'

NEWS

Isabelle Mateos Y Lago, chief multi-asset strategist at BlackRock, an investment management corporation with $5.7 trln in assets under management, has said that the company is keeping cryptocurrency under "close review" as an "interesting development."

Speaking to Bloomberg TV Monday, Jan. 29, the senior executive said that although cryptocurrency did not constitute "an investable asset" for the world's largest money manager at present, it was actively tracking progress as it is "clearly evolving very fast."

The comments temper those of BlackRock CEO Larry Fink, who last week went on record at the World Economic Forum 2018 to describe the space as an "index of money laundering" and previously implied he had no plans to enter the future Bitcoin ETF arena.

As the dust settles on Japanese exchange Coincheck's $530mln hack, Mateos Y Lago nevertheless saw little reason to discard cryptocurrency investment entirely.

"The fact that interest has persisted despite these repeated hacks," she continued, describing customer demand for Bitcoin at BlackRock, "despite regulators waking up and trying to catch up with this new development and gradually weeding out all the illegal uses suggests there really is something to it."

"There's lots of ways to get in; the question is, are they safe?" Mateos Y Lago continued on Blockchain and ICO investment opportunities, saying it was "hard to put a fair value" on them for regular investors.


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Big Differences Between Gold and Bitcoin, According to World Gold Counci

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Big Differences Between Gold and Bitcoin, According to World Gold Counci

ANALYSIS

Due to its success as a store of value Bitcoin is often labeled 'digital gold.' This sentiment came to the fore in the latter months of 2017, as Bitcoin entered massive bull run that had the financial world in a bit of spin.

Scalability has been a long-term problem plaguing Bitcoin, but the saving grace from high transaction costs and delays has been its emergence as a store of value. While Bitcoin remains in a volatile state, it is still head-and-shoulder above its altcoin predecessors in terms of value per coin. A plethora of cryptocurrency and mainstream financial analysts have likened Bitcoin to gold for this very reason.

Well-known American broadcaster Max Keiser has been particularly vocal about his predictions for Bitcoin. While he envisions the preeminent cryptocurrency hitting $100,000 highs, Keiser also believes Bitcoin will lead to the revival of physical gold trade, by highlighting speculative trading methods employed by mainstream traders:

"Bitcoin is helping gold by shattering the matrix of Wall Street that is incurring the naked short-selling and financial manipulation that is going on in the futures market of gold."

World Gold Council says Bitcoin is not like gold

In a document published on Jan. 25, the World Gold Council (WGC), the market development organization for gold, shed light on its stance towards cryptocurrencies. Based on the gathered statistics, Gold saw 13 percent growth in value in 2017- which by all accounts is a positive statistic, but it pales in comparison to the parabolic growth of Bitcoin during the same time period.

Nevertheless, WGC's report went about explaining its stance on cryptocurrency, and why it sees Gold remaining an integral store-of-value investment in the age of cryptocurrencies. It's hard to call the arguments shockingly fresh though as gold trade sees less volatility, its market is far more liquid and highly regulated. It is also well-established as an investment portfolio.

Gold liquidity and diversity

The WGC highlighted the fact that gold has a far higher day-to-day liquidity. In relation to gold's $250 bln worth of trades per day, the WGC estimates that Bitcoin's daily trade is worth around $2 bln- roughly the equivalent of gold-backed exchange traded funds.

Another factor is the diverse uses and applications of gold. Gold's highest demand comes from the jewelry industry, accounting for 50-60 percent of gold demand over the past 20 years. Another 30 percent of demand comes from the investment portfolio, while the rest applies to the tech industry and central banks.

Common characteristic- scarcity

As the WGC cites, Bitcoin's supply increases at around four percent each year- as it nears its 21 mln coin cap. This will only be reached in the year 2140, due to the scaling difficulty of mining - but this anti-inflationary process is a common characteristic shared with gold as the WGC points out in its report:

"Approximately 3,200 tonnes of gold have been mined on average, each year, adding about 1.7 percent to the total stock of gold ever mined. Bitcoin's future diminishing growth rate and ultimate finite quantity are clearly attractive attributes, as is gold's scarcity and marginal annual growth."

Gold trade looking into Blockchain

While the WGC clearly wants to quash any comparisons to Bitcoin and cryptocurrencies, the industry seems to appreciate the value of Blockchain technology. The distributed-ledger system that underpins Bitcoin and various altcoins have proven its value, and bright minds began exploring almost limitless applications of Blockchain systems. According to the WGC, the gold industry is among them:

"In the gold market, various players are exploring Blockchain in the context of transforming gold into a 'digital asset,' tracking gold provenance across the supply chain, and introducing efficiencies into post-trade settlement processes."

This is likely to be done on private Blockchains. But nevertheless, the financial world is taking to the idea of Blockchain technology.




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Oldest Chinese Bitcoin Exchange BTCC Acquired By Hong Kong Investment Fund

Oldest Chinese Bitcoin Exchange BTCC Acquired By Hong Kong Investment Fund

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Oldest Chinese Bitcoin Exchange BTCC Acquired By Hong Kong Investment Fund

NEWS

The BTCC Bitcoin exchange, formerly known as BTC China, has been acquired by a Hong Kong-based Blockchain investment fund on terms that are yet to be disclosed, the company revealed in a blog post Monday, Jan. 29.

Calvin Cheng, an advisor for the yet-undisclosed investment fund, expressed his excitement about their acquisition of the longest-running Bitcoin exchange in China, saying that they were "humbled" by the opportunity.

According to BTCC's press release, the company will now focus on three major market spheres, namely the international BTCC Mining Pool, Mobi wallet software, and its own cryptocurrency exchange.

Co-founder of BTCC Bobby Lee expressed his confidence for the future after the deal, saying that he is "very excited about the resources this gives BTCC to move faster and aggressively grow [its] businesses in 2018 and beyond."

The company has faced an uphill battle to grow since being effectively ousted from their homeland base in Shanghai, China in September due to Chinese government banning cryptocurrency trading in the country. The company has since set up a new base of operations in Hong Kong, and will now have the capital to continue its brand remake.



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Unknown Heroes: Little Coins That Generate Big Profit

Unknown Heroes: Little Coins That Generate Big Profit

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Unknown Heroes: Little Coins That Generate Big Profit

INFOGRAPHICS

Following a long-term autumn bearish trend on altcoins, cryptocurrency market was surging like crazy at the end of the last year. A good number of altcoins skyrocketed in just two to three weeks. For instance, Ripple (XRP), Stellar (XLM), Verge (XVG), Cardano (ADA) and many others grew in price by five to 10 times with the record-setters, such as Tron (TRX) and Verge - by 20-30 times respectively. Many altcoins proved to be growing pretty stable: such major players as Ethereum (ETH) with a huge capitalization also increased immensely. It should be noted that the increase in prices has been going with a relatively stable BTC price, which means that all the generated profits are nominated not only in US dollars but also in BTC.

Hence, by investing a minimum of one BTC in XVG at the price of 50 Satoshi in early December, an investor could sell it at the price of 1,500 Satoshis with the 30-times return on investment within just two weeks. To make a good investment in these coins, all you needed to do was to be registered at three major cryptocurrency exchanges, such as Bitfinex, Bittrex, Binance. There you can also monitor listings of new coins that might turn out to be generating substantial profit once the demand for them grows in the longer run.

Unknown heroes

However, there is another area on the market that is less known, but that could be not less profitable: emerging crypto assets that are not yet listed on major exchanges for some reason. And this is not surprising, as being listed on a major exchange is rather time and effort-consuming for any startup project. This mainly has to do with hundreds of applications that exchanges receive every day, but cannot process instantly, because first, they have to check all the technical specs of a new coin and its real demand on the market. Each new coin that is to be listed would either draw back the liquidity from other traded pairs or become a dead-weight and delude the traders damaging the exchange's reputation at the same time. A lot of instances of this can be observed at hitBTC listed pairs overview.

That is why a great number of really valuable up-and-coming crypto assets with good chances of growth are starting at minor exchanges, where the conditions to be listed are much less strict. It is there that these coins are making the first sparkles and then increase in price several times more once they get to a big exchange, like Bittrex. These are assets that - if managed correctly from the start – could make the investor very rich.

Little five

Let's look into five new assets that, if invested in December 2017, would have generated an amazing profit for the investor and maybe can generate even more in the nearest future.

Only the assets with the trade volumes no less than $1 mln were taken into consideration. All the "shit coins" that are growing at pump and dump schemes were filtered. Assets that are traded at major exchanges as Bitfinex, Bittrex, Poloniex, Binance were not taken into consideration either.

5 New Assets

All mentioned crypto assets (or "coins") have been selected by the following criteria:

  1. Technology and demand from crypto or other industry (=probably high demand in future)
  2. Trading on a small exchange (=low price may be a result that not many people have access to trading these assets. Thus, demand is low at the moment, but can significantly increase after releasing partnership and listing at major exchange)
  3. Low initial price (=probable undervaluation, taking into account previous criteria)

RaiBlocks (XRB) is a coin, built on DAG-technology along with well-known IOTA, focusing on fast microtransactions. One of the important points why coin was picked is demand for DAG technology in industry and a broad market for future implementation.

Dent (DENT) is used for sharing prepaid packages of mobile data. According to Cisco review, 15 percent of mobile data is unused and this is the market of 4.8 bln dollars. User cases are as follows: sharing unused data packages, avoid roaming, automated buying mobile data for IoT devices at best price. This concept is good for future demand on Dent token, so it was selected.

Iot Chain (ITC) is a coin of Chinese-based startup, providing high-scalable transactions for IoT industry. The project is based on high-scalable DAG version. IoT, in general, is a trend in the industry and a new high-qualified project is pretty interesting for an investment portfolio.

Dragonchain (DRGN) is a new Blockchain platform, designed by Disney. The platform is high-scalable, has huge functionality and can serve many fields of operation - smart contracts, identity, intellectual property, p2p financial instruments and many others. Also, the platform is building its own ecosystem with startup incubator. At the moment Look Lateral - an Italian project selling art with Blockchain rights fixation as well as LifeID (Blockchain-based identity) are making a product using Dragonchain. According to the top-tier company behind this project and technological functionality, this asset is surely a "little coin, going big."

XTRABYTES (XBY) is a platform for dApps, offering high-scalability and decentralization opportunities over current Blockchain technologies. The team created a new consensus method - Proof-of-Signature and algorithm Zolt. This project seems good and new-tech oriented, so possible high-demand for XBY coin may arise if XTRABYTES solution will be used widely.

Profitability from holding these "little coins" was compared to buying and holding major crypto assets like ETH and XRP at the same time as demonstrated below. RaiBlocks demonstrated enormous price growth rate, giving 70 times increase on the investment; Dent provided 23 times capital growth. Other little, but promising coins that were selected have comparable to XRP and significantly higher profit of investment in comparison to ETH.

It seems that these coins with good fundament and technology were unknown in the major part of the community and their price greatly increased when more investors receive information and massively buy this asset. Besides fundamental reasons of investment, many of them probably keep in mind that after listing on major exchange price will be rising even more, when very large community and big money will have direct access to trade this coins.

"Unknown heroes" vs ETH profitability

Profitability fo new assets

Assets in crypto industry grow rapidly if there is a large influx of funds coming in from new investors with the simultaneous holding by earlier investors. There is a special name for that- «HODL». The price increase, in this case, is due to the constantly increasing demand together with the shrinking amount in circulation. After listing on a bigger exchange, like Bittrex or Binance, the demand is growing massively, which increases the price even further. For this reason, investors would monitor new coins introduced to smaller exchanges, because these assets are seriously underestimated due to the lack of the audience and low trade volume. But constant monitoring can be rather tedious and requires having multiple accounts, which is time-consuming. On the other hand, potentially attractive coins don't get a decent audience, because investors would rather prefer to purchase a new asset once it is listed on some bigger exchange. That results in a huge price increase and high volatility: massive funds are injected to the coin instantly at its purchase.

How to facilitate access to new assets

Therefore, one of the current issues of the market should be facilitating the access to new assets for investors. On the one hand, it will make easier for new users to start investing into crypto assets, and on the other hand, would bring the audience and liquidity to new coins.  This is possible only by means of integrating all exchanges into one technical and visual interface that would allow trading multiple cryptocurrency pairs in one terminal at single-click ease. Once deployed, this would bring about another perk for both traders and new coins: traders would be able to start buying the coin from the date it was listed at any of the exchanges that are part of this integrated network, while the coin gets more extended and organic timeline growth.

The problem has already been tackled by several teams. One of them is B2BX that ran a successful ICO in late 2017. They plan to make first official B2B cryptocurrency exchange aggregator or marketplace to connect institutional clients, forex/DMA and stockbrokers with cryptocurrency exchanges. So, when the B2BX product is to be delivered on the market, cryptocurrency exchanges could receive more liquidity. The project is targeting brokerage houses, liquidity providers and institutional investors, the majority of the traders will have access to the market via their forex or stockbrokers.

Another startup that proved to be pretty successful is Arbidex– the platform that integrates crypto exchanges into one single interface with the built-in mechanism for automated arbitrage. The Arbidex team claims that integration of cryptocurrency exchanges together with the additional functionality as automated arbitrage system will provide more liquidity to trading pairs and eliminate borders between exchanges. Using only one Arbidex account customer can buy and sell crypto assets and coins at all exchanges connected. So, added new trading pairs on major exchanges like Binance or small like Livecoin automatically are in availability to trade for all Arbidex users. Actually, they offer a breakthrough high-end trading terminal for traders, integrating orderbooks and trading pairs from multiple exchanges with an opportunity to make some extra profit.

The third solution could be seen in a Japanese project Liquid, which is operating under Quinone Corporation (has an exchange license from Japan authority). One of the project goals is to provide liquidity for cryptocurrency exchange market and to create worldwide order book.

What to expect?

This year seems to bring more maturity to cryptocurrency exchange market. Hopefully we will see the introduction of market brokerage platforms and services with trading tools such as professional trading terminals, analytics and possibility to buy and sell the majority of crypto assets in one window. What if 2018 is the year of little coins becoming big?

Disclaimer: All information about coins is not investment advice.

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