What is Bitcoin?
Bitcoin is an innovative payment network and a new kind of money.
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
How does Bitcoin work?
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users.
Who created Bitcoin?
Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.
Who controls the Bitcoin network?
Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can’t force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
Is Bitcoin really used by people?
Yes. There is a growing number of businesses and individuals using Bitcoin. This includes brick and mortar businesses like restaurants, apartments, law firms, and popular online services such as Namecheap, WordPress, and Reddit. While Bitcoin remains a relatively new phenomenon, it is growing fast. At the end of August 2013, the value of all bitcoins in circulation exceeded US$ 1.5 billion with millions of dollars worth of bitcoins exchanged daily.
How does one acquire bitcoins?
- As payment for goods or services.
- Purchase bitcoins at a Bitcoin exchange.
- Exchange bitcoins with someone near you.
- Earn bitcoins through competitive mining.
While it may be possible to find individuals who wish to sell bitcoins in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods. This is due to cases where someone buys bitcoins with PayPal, and then reverses their half of the transaction. This is commonly referred to as a chargeback.
How difficult is it to make a Bitcoin payment?
Bitcoin payments are easier to make than debit or credit card purchases, and can be received without a merchant account. Payments are made from a wallet application, either on your computer or smartphone, by entering the recipient’s address, the payment amount, and pressing send. To make it easier to enter a recipient’s address, many wallets can obtain the address by scanning a QR code or touching two phones together with NFC technology.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
Another coin which is gaining traction across the Cryptocurrency world is known as NEO. NEO, previously known as Antshares, is often considered China’s response to Ethereum. Its goal is to create a smarter economy by bridging the gap between digital and traditional assets.
NEO is an open source project, so the main pillars are all the community groups that are actively building and expanding the ecosystem. The NEO Council is located in Shanghai, community developer group City of Zion are more than 50 developers distributed all over the world, and community developer group NewEconoLab sprouted up in China.
There are many new projects which prefer NEO over Bitcoin and Ethereum due to the advantages listed below:
- NEO transaction capacity is already 1000tps+ single core on MainNet. Other projects claiming similar speed do not have a production ready product.
- Projects claiming “millions of tps” are using sharding/state channels. These technologies are just as easily applied to NEO.
- Transactions are free.
- Consensus algorithm never create branches. A transaction is 100% final after the first confirmation.
- Smart Contract deployment fee serve as an extra protection layer against ”trash data” and scam projects.
- Very different focus, Ethereum wants to build a network for unstoppable applications, whereas NEO wants to build a network for smart economy (adhere to legislation).
NEO is a blockchain platform that facilitates the development of digital assets and smart contracts. The platform uses two different tokens (similar to Ethereum): the first is also called NEO, the second is GAS. Both tokens have specific uses on the NEO platform.
The primary aim of NEO is to become a digital, decentralised and distributed platform for non-digital assets, through the use of smart contracts (see below for a more detailed look at smart contracts).
This means that its goal is to become a digital alternative for asset transfers that are currently non-digital. An example would be paying rent using a smart contract that triggers automatically once a month, instead of setting up a bank payment.
The EFFECT Network
Introducing the 3 phase release of The Effect Network
Introducing the 3 phase release of The Effect Network
The first phase of The Effect Network will be an interactive marketplace for tasks that require human intelligence.
A Decentralized Mechanical Turk (M-Turk). It allows anyone in the world to perform a wide range of tasks and receive fair payment.
It will give AI developers and businesses access to a large workforce of human intelligence to train AI algorithms. When a worker completes a task, they are paid with with a network NEP-5 token.
How does EFFECT M-Turk work?
A decentralized on-demand, scalable and distributed workforce. Find out here.
Blockchain-Powered Gig Economy SolutionsHelping contractors earn more, faster, and more securely
Morpheus Network’s blockchain-powered platform is a game changer that can solve these inefficiencies and enable truly integrated and automated supply chains.
We are part of the Blockchain Transport Alliance – members include FedEX, UPS, SAP, Penske, JD Logistics, Salesforce, Convoy, etc. BiTA is a consortium of the foremost leaders in the freight industry forging a path towards industry standards in blockchain use. Their goal is to bring together leading companies in the freight technology industries that have a vested interest in the development of blockchain technology. Learn more about Morpheus Network here.
Smartweb is a web of Apps and DApps
We are creating an operating system for the Smartweb
Smartweb is a web of Apps and DApps
We are creating an operating system for the Smartweb
Titanium Blockchain Infrastructure Services
Decentralized. Shock-Proof. Powered by Blockchain.
Decentralized. Shock-Proof. Powered by Blockchain.
Titanium Blockchain Infrastructure Services
What if an entire IT enterprise could be virtualized, including data centers, firewalls, load-balancers, routers, switches, network appliances and servers?
Imagine being able to set up an enterprise level infrastructure for a global company from a tablet in your living room, without spending any time installing rack servers, routers, load balancers, or any other network component beyond what is needed to access the network.
With TBIS’ proprietary Company as a Service™ (CaaS) and Infrastructure as a Service (IaaS), every device, from enterprise level on down, can be virtualized; routers, firewalls, and specialized equipment such as cryptocurrency miners, can exist in an entirely cloud-based environment based on the decentralized Ethereum blockchain.
Just as steel changed the building industry forever, Titanium will usher in a new era of network construction. With TBIS’ proprietary Company as a Service™ (CaaS) and Infrastructure as a Service (IaaS), every device, from enterprise level on down, can be virtualized; routers, firewalls, and specialized equipment such as cryptocurrency miners, can exist in an entirely cloud-based environment based on the decentralized Ethereum blockchain. Paired with cutting-edge enterprise management and monitoring technology, this will create a shock-proof internet infrastructure that will be both lightweight and completely revolutionary in scope. Imagine being able to set up an enterprise level infrastructure for a global company from a tablet in your living room, without spending any time installing rack servers, routers, load balancers, or any other network component beyond what is needed to access the network.
Vyral Smart Contracts power a decentralized advertising ecosystem of blockchain incentive programs from fueling viral growth for crypto token sales to tokenizing reward programs for businesses. Vyral is a system of marketing for influencers. In a decentralized system, we take the middleman out. Using smart contracts that automatically execute when each referral is made, we ensure a fairer exchange between the company and its customers.
Dogecoin is a fun, new and rapidly growing form of digital currency. This form of digital currency is called "cryptocurrency"; a type of digital currency. Cryptocurrency is completely anonymous, decentralized, and extremely secure.
Dogecoin was created by programmer Billy Markus from Portland, Oregon and Jackson Palmer from Australia.
Dogecoin is used with a wallet on your computer, your smartphone, or a website. You can use it to buy goods and services, or trade it for other currencies (both other cryptocurrencies or traditional currency like US dollars).
One of the most popular uses for Dogecoin is "tipping" fellow internet-goers who create or share great content. Think of it as a more meaningful "like" or upvote, with real value that can be used all across the internet.
Worldcore was already known as a successful payment institution, when Ethereum was created. Since its launch, Worldcore has started offering wide range of payment products, won awards and opened its virtual doors to thousands of customers worldwide.
Worldcore is a regulated payment institution with an EU license granted by the National Bank of Czech Republic. The current annual transaction volume is expected to exceed EUR 100 million by the end of 2017.
Mark Cuban has had a remarkable career as a businessman, investor, and NBA owner of the Dallas Mavericks.
Here are his 9 tips for saving money, getting a better return on your investments, and building wealth.
No.1 Live Like A Student - Here is where you need to start to learn about Bitcoin and Cryptocurrencies.
No. 5 Invest up to 10% of Savings in High Risk Investments like Bitcoin - When you do this, you got to pretend that you've already lost your money... It is like collecting arts, collecting baseball cards, collecting watches... it might/will worth something in the future... And again, limit it to 10%.
Now, get your Bitcoin Here
Bitcoin's price could soon reach $50,000, and investors of publicly-traded banks are unlikely to support it, says Ronnie Moas of Standpoint Research.
He argued that critics of bitcoin are heavily invested in U.S. banks that are being directly threatened by the cryptocurrency.
"People need to start taking this seriously because today bitcoin caught up with Goldman Sachs," Ronnie Moas, founder and director of Standpoint Research, told CNBC's "Capital Connection." He added, "Within five years, it's going to catch Apple which has (a more than) $800 billion market cap."
BE PART OF THE CHANGE... AND HELP MAKE THIS WORLD A BETTER PLACE THROUGH BLOCKCHAIN TECHNOLOGY
What is Blockchhain?
The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, the tech community is now finding other potential uses for the technology.
Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value.
Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this, what is Blockchain guide.
"The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.
Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
STOP & WATCH THIS VIDEO ON STRATEGY
Yes, Bitcoin seems to be the future monetary system just like how emails improved communication correspondence, how Facebook helped people make friends.. but don't go overboard. Stay calm and don't get emotional with the volatility nature of the market.
Having a simple strategy of owning Bitcoin would benefit you in the long run.
A good investment strategy
If you are interested in Bitcoin as an investment, you might follow my simple investment strategy:
Buy bitcoins, and keep them for a relatively long time. Resist the temptation to buy more or sell unless you thought about it very carefully.
CarTaxi is a logistics platform for evacuating and transporting cars that integrates all tow trucks in a single application. It is a global mobile solution based synergistically on geolocation and blockchain + smart contract technologies.
Electroneum is a leap forwards in the accessibility of cryptocurrencies, just like Bitcoin or Ethereum that you can easily mine for free on your smartphone.
Obtaining Bitcoin or Ethereum is relatively difficult, but we've made Electroneum really easy for anyone to get involved with ZERO technical knowledge.
CrowdWiz is an investment ecosystem based around the power of crowd wisdom.
What Is CrowdWiz?
CrowdWiz is a decentralized crowd wisdom investment platform that just recently announced its ICO.
The company’s platform is based on Ethereum. CrowdWiz’s ICO is taking place in mid-September.
CrowdWiz was created by Krypton Software, a division of a leading fintech software company called TRADOLOGIC.
Founded earlier this year, CrowdWiz uses a crowdsourced decision making process as an alternative to traditional investment advice. The platform takes the opinion of the crowd – rather the opinions of a small number of fund managers, banks, or middlemen – to make decisions about a community-controlled pool of money.
The ecosystem revolves around the use of WIZ tokens.
How Does CrowdWiz Work?
CrowdWiz’s team describes a straightforward example of how the platform works.
CrowdWiz’s users might be given the option to invest in two companies: Company A or Company B. Each individual CrowdWiz user casts his or her vote, using WIZ tokens to do so. The user picks Company A or Company B based on which one is perceived to be the better investment.
Initial buy-ins for the vote can vary. Return investments will differ in size per user based on the original investment.
Then, the platform distributes the funds based on the opinion of the majority of the crowd. The end result, in an ideal scenario, is that “the wisdom of the crowd produces the best and most promising company to invest in.”
You can join an existing investment pool on CrowdWiz – say, a pool with thousands of random people from the internet with strong performance over the last few months. Or, you can create your own investment pool among a trusted group of friends while still harnessing the transparent, blockchain-based, democratic CrowdWiz platform.
CrowdWiz is designed to be a replacement for conventional investment vehicles and funds. Today, investment firms, financial middlemen, and banks charge high entrance costs, large fees, and provide little or no transparency. These institutions often have conflicted and undisclosed personal interests – and yet people trust them with billions of dollars. With these problems in mind, CrowdWiz offers the following solutions:
- Little to no fees
- Complete transparency
- Self-governance on a democracy-based investment platform
- The ability to vote and join smarter investments
- A safe place to invest, as the crowd can protect itself from fraud
- The ability to profit from financial services
- Multiple uses for the WIZ token, including investment, trading, insurance, lending, etc.
To read more about CrowdWiz, go to https://bitcoinexchangeguide.com/crowdwiz-investments/
- The Blockchain Solution for the Global Dental Industry.
- Dentacoin aims at improving dental care worldwide and making it affordable through crowd power.
Dentacoin, the first cryptocurrency designed for the global dental industry, offers a unique opportunity for everyone to become involved in improving dental health around the world through a new-age approach. Its ICO was launched on the 1st of October and at the moment of writing 60% of the soft ICO cap are reached. Reaching the soft cap will help the Dentacoin Foundation to fulfill the next targets on its Roadmap. In no particular order, here are 8 reasons to support Dentacoin.
What is a wallet? And how does it work?
If you’re interested in using cryptocurrencies like bitcoin or Ether, whether you want to pay with the coins or simply want to keep the coins as an investment, you’re going to need a wallet. While these digital, software wallets might seem like regular wallets at first glance, there is a lot to learn about them: how they work, the different types and, most importantly, how to keep them safe.
Your coins are not stored in your wallet
The name is a bit of a misnomer. In fact, your coins are not stored in the wallet at all. The coins do not technically exist anywhere as they do not have any physical form (hence the name digital currency). What your wallet can do is connect and analyse the blockchain, which allows you to transfer and receive money to and from other users of that blockchain and check out your coin balance. Some wallets have other features, such as checking live exchange rates to your fiat currency of choice, or maintaining various coin balances from different blockchains, but we’ll cover these in later sections.
Wallets do not actually contain any coins. The blockchain contains all the transactions that have been made since the initialisation of the blockchain, and through those transactions the wallet can figure out how many coins you have.
For example, Alice sends Bob 0.001 BTC. Once verified and added to the blockchain, the transaction can then be used by Alice’s wallet to show a reduction of 0.001 BTC from her balance, and by Bob’s wallet to show an addition of 0.001 BTC.
All wallets have a record of this transaction. All transactions on the blockchain are public so all users on the blockchain can confirm that the bitcoin changed hands.
What is the Blockchain?
Originally developed by Satoshi Nakamoto, the inventor of bitcoin, the blockchain is the beautiful technology underlying all cryptocurrencies and altcoins on the market today. In essence, the blockchain is a database of transactions. Each verified transaction is stored on a “block”, a file containing multiple transactions. When a block is full, a new block is created and chained to the previous block. In bitcoin, a transaction is an exchange of bitcoin, but other platforms like Ethereum are using the blockchain to store many different types of data, and all the transactions are shared and replicated throughout the various users of the blockchain.
So you’ll never find data stored in a single location, and if users want to double check the data they can ask any of the other nodes for their data and confirm that the transaction really did take place.
Data added to the blockchain, described as immutable, cannot be deleted and cannot be changed.
Creating an account is straightforward and you can begin buying right away but you will need to go through an ID verification process in order to send or sell purchased bitcoin. This ID verification process took us no more than 10 minutes from uploading ID to receiving confirmation, all in all a smooth process.
Having gone through the verification process, CoinTree require your first deposit be made in cash before online options become available as a security measure. I took a trip to a local Commonwealth bank branch to test things out for myself and was pleasantly surprised to see the funds become available in our CoinTree account within the hour. With a deposit made, the CoinTree Dashboard makes the next step as clear as possible, with some of the usual bitcoin jargon removed. I was able to purchase bitcoin instantly and have it show up in my wallet within 10 minutes. All in all, from initial sign up to owning bitcoin the process was a breeze, and minus the short walk to the bank I was up and running in less than two hours.
With my first deposit successfully completed the full scope of deposit options became available, including BPAY from any bank account, and the Australian Post POLi service. Both very handy methods to avoid making another trip to the bank in person, though its important to note, not nearly as quick as good old fashioned cash deposits.
CoinTree have put a clear emphasis on newcomers to bitcoin, providing a unique and reassuring demo. Visitors can access a dummy version of the full site and trial services including making a bitcoin purchase before committing to signing up.
The Cryptopia exchange is a powerful currency trading platform. Deposit, trade, and withdraw Bitcoin, Litecoin, and over 400 other crypto currencies.
Convert New Zealand dollars to crypto by depositing to NZDT, and trading it for the coins of your choice.
The Cryptopia marketplace lets you sell anything, to anyone, anywhere in the world in exchange for cryptocurrency.
Buy and sell items free of charge. Make sales via auction or classified listing. Start using your crypto today.
Join a trusted community built around a passion for cryptocurrency. Learn the market from our News, CoinInfo, Arbitrage, and Forum sections.
Stay safe with market-leading two-factor security options, including Cryptopia hardware dongles.
Move seamlessly between currencies and pay anyone globally, using the world's fastest payment network.
Trade confidently in real-time with a blended exchange rate and flat 1% buy and sell fee.
Bitcoin: Is it a bubble or is it not the bubble? Perhaps this is NOT the question we should be asking. Instead, maybe we should be looking at other asset classes and seeing how all of them seem overvalued relative to their history. Loose monetary policy and easy credit has led to some odd market behaviors in the past few years and has led to investors chasing both yields and returns.
As a result, many investors are adding alternative, nontraditional assets to their portfolios, including Bitcoin. Many people cite the dot-com bubble as evidence that Bitcoin is a bubble, but there are many differences. The largest among them is the size differential between the size of crypto and the tech market back in 2000.
This is the result of traditional investors having nearly zero idea how to gain exposure to Bitcoin. The premium for the Bitcoin Investment Trust is evidence that these investors want in, but don't any real avenues to do so and hence the approval of an ETF should lead to a huge increase in capital inflows.
In addition, financial advisors are beginning to look at the place of Bitcoin in the modern portfolio due to its low correlations with other asset classes. Yet, it still behaves similarly to gold in short-term volatility spikes during times of geopolitical instability, suggesting it has some hedging qualities. It also provides a safe haven for countries with no real alternative such as Venezuela.
The point is, there are tons of demand sources for Bitcoin. Meanwhile, equity valuations continue to extend, bond prices are still bubbly, and real estate is back to where it was in 2008 and securing mortgages is becoming easier again. Forget the mention of student loan debt.
If you come from traditional finance, give it a second thought as to whether or not Bitcoin is a bubble. While there is much "irrational exuberance," there are many merits to the technology and value in the service it provides. For those of you coming from crypto, I hope you can also open your eyes to the possibility that Bitcoin can become overvalued too as the result of speculative behavior, rather than saying Bitcoin is going to $1,000,000 despite the disconnect between the increased market cap and number of daily transactions.
Source: Crypto Investor
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