Tag Archives: bitcoin

Bitcoin Breaks 7-Month Downtrend But Must Clear These Hurdles to 10K

Bitcoin Breaks 7-Month Downtrend But Must Clear These Hurdles to $10K

The price of Bitcoin (BTC) found strong support at $8,200 last week, after which it started to rally toward $8,800 earlier today. Alongside with that, the total market capitalization of crypto found a support at $215 billion and starting to look bullish. Will this mean that the correction is over, and crypto is trending upwards?

Bitcoin still in an uptrend since the low at $6,500

Bitcoin is still trending upwards since the low at $6,500, as previous resistance zones have become support. A recent example is showing a bounce on the green area, which is the $8,200 level. This type of bullish support/resistance flips is a common occurrence in an uptrend market. A break below $8,200 would have demonstrated weakness, as that level would not have provided enough buying pressure and support. Losing such a level would usually have been followed by a continuation downwards. An example is found after the push to $10,000 in November 2019. The chart is also showing a clear breakout from the 7-month downtrend. A retest was done at $7,600, after which the price of Bitcoin rallied towards $9,200 for temporary resistance.

The 4-hour chart of Bitcoin is showing a healthy support/resistance flip at $8,200, after which price broke through the $8,500 resistance. Currently, the price of Bitcoin is facing the next resistance at $8,800. However, it’s quite unlikely to see an immediate breakthrough at this level as the indicators on smaller time frames show exhaustion of this upwards move. Additionally, some significant resistances are shown on the chart, i.e. $9,000 and $9,200-9,400, which are two hurdles to overcome if the price of Bitcoin wants to continue moving upwards. On the support side, a retest of $8,500 looks quite healthy for confirmation of new support. Range-bound movements are now likely to happen if price can’t break through $8,800 or drop below $8,500.

Total market capitalization flips a crucial level for support

The total market capitalization of cryptocurrencies is showing an essential bounce from the blue zone (level around $217-218 billion). A retest there was quite healthy as anticipated in a recent article. This retest is now completed and shows intense buying pressure as the total market capitalization has already rallied up to $238 billion. This retest also indicates confirmation of the uptrend with the total market cap breaking the 7-month downtrend as well. The first hurdle to overcome now is the $247 billion level. If that is broken, continuation towards $270 and $300 billion is likely to occur.

Altcoins showing more strength than Bitcoin

The total market capitalization chart of altcoins is looking healthy The market cap rallied from $52 billion to $80 billion. Only a slight retracement occurred to $71 billion, which means that it is stuck in a narrow range. If we check the rest of the chart, we can spot many tests of the $80 billion level in recent months. Around three tests have happened prior to this latest one, which means that the resistance should become weaker. Remember, the more times a resistance gets tested, the more exhausted sellers will get, and the weaker a resistance becomes. On the other hand, this also happens with support zones. The $6,000 support of Bitcoin in 2018 was tested many times before it broke down. Given that these tests of the $80 billion level occurred quite frequently, a breakout to the upside is the most likely scenario at this point, meaning that the altcoin market cap could rally towards $120 billion.

The bullish scenario for Bitcoin

The most bullish scenario would be a clear breakout of $8,800 and a continuation from there. However, as stated earlier, I find it unlikely to see such a move occur in one go. A retest and consolidation would be more likely including a likely retest of the $8,500. This is healthy and would be almost required before the price of Bitcoin can continue to face higher resistance levels. If Bitcoin can hold the $8,500 area for support, I see a breakthrough of the $8,800 and $9,000 as likely, after which $10,000 will become the primary target. Moreover, clearing $10,000 could bring the price of Bitcoin towards $11,000 as well.

The bearish scenario for Bitcoin

Typically, the bearish scenario has a similar pattern in the beginning, as BTC needs to be rejected at the $8,800 level. However, the difference is in the subsequent pattern. If the price of Bitcoin is to make lower highs with weak bounces, the downward trend is likely to resume. If this occurs, I’d be aiming for bearish retest (support/resistances flips) of the $8,500 level as a potential short opportunity. The main target would then be the $7,600 area. But first, the price needs to be rejected at $8,800-9,000 to get these scenarios going. Overall, the $8,100 support/resistance flip doesn’t say that we’re bearish at this point. Especially, since that price has broken at a 7-month downtrend.

Article Produced By
Michaël van de Poppe

Michael is a full time day/swingtrader in cryptocurrencies, based at the Amsterdam Stock Exchange & interested in everything related to blockchain in combination to the current financial system. Alongside with that, he’s also almost finished his Economics bachelors degree at university.

https://cointelegraph.com/news/bitcoin-breaks-7-month-downtrend-but-must-clear-these-hurdles-to-10k

Thomas ClaimCo.in

Top 10 Countries Where You Can Mine Bitcoin

Top 10 Countries Where You Can Mine Bitcoin

Bitcoin mining is very integral for the Bitcoin ecosystem because it is the mechanism that secures the network.

However, it is an expensive undertaking that requires a cheap location to be economically viable. Miners should set their factories in areas with the lowest investment per Bitcoin mined for them to make profits. Apart from the economics, government regulatory environments also determine the top countries for bitcoin mining. Miners prefer jurisdictions that have a legal and regulatory framework that allows mining.

So, let’s look at the top 10 countries for Bitcoin mining.

Kuwait

Bitcoin mining is an energy-intensive undertaking. The GPU used for mining requires an incredible amount of electricity and cooling them to prevent overheating also involves a lot of power. That is why Kuwait, an oil-rich country in the Gulf, makes it to this list. Although Kuwait is very hot, requiring electricity to cool GPUs, it provides cheap energy that offsets the cost of cooling GPUs. The cost of mining Bitcoin in the country, according to Elite Fixtures data, is roughly $1,983, making it among the cheapest countries to mine Bitcoin.

Iceland

Iceland, a Nordic country, seems to have everything favorable for mining: a cold climate, affordable electricity, and an advantageous regulatory environment. Because of this, the country has become a hub for cryptocurrency miners. Iceland has a significant number of natural resources that it uses to create energy. The country produces sustainable electricity from a mixture of geothermal and hydroelectric power, which it provides to its citizens cheaply. Importantly, despite the huge spike in electricity consumption, the government allows the miners to use energy from the grid for mining. The cold climate is another benefit for miners, as it provides air conditioning to minimize the cost of electricity. The cost of mining Bitcoin on the island currently stands at around $4,746 per coin.

Estonia

This is a relatively small country located in Eastern Europe. The nation, reputed for being tech-savvy, also joins the favorite countries for bitcoin mining. It has a friendly legal environment and tax rate that favors miners. Additionally, its relatively cheap electricity within the region has endeared it to miners. Importantly, the cold winters in the country reduce the demand for air conditioning, lowering the overall cost of Bitcoin mining. However, because of the high cost of doing business, the price of mining Bitcoin is $5,551 per coin.

Georgia

The Eastern European country is very rich in natural gas and hydroelectric power. Additionally, the country has only tapped a quarter of its energy resources thus far. With a lot of electricity, the cost of power is low, making it among the best destinations for miners. Apart from electricity costs, Georgia’s regulatory environment favors cryptocurrency. Its attractive tax regime supports cryptocurrency miners. Specifically, the law doesn’t recognize mining as a taxable activity, meaning that meager taxes are levied on miners if any. So, if you were to mine Bitcoin in Georgia, you’ll do it tax-free. The cost of mining a Bitcoin in the country is around $3,316 a BTC.

Canada

The North American country is a preferred destination for miners because it has some of the world’s largest hydroelectric dams. The dams provide electricity, which is sold at low rates that are attractive to miners. When it comes to the regulatory climate for cryptocurrencies, Canada offers a very promising environment. Additionally, the cold climate in Canada is hugely advantageous to miners because of the cooling costs savings. Even if the country is very strict with ICOs, it allows cryptocurrency mining. Depending on which part of the country you locate your mining factory, expect the cost of mining Bitcoin to be within the $3,965 per BTC. 

United States

The actual cost of mining Bitcoin varies across states in the United States. On average, the cost of mining is $4,785. Until recently, New York State was one of the cheapest places and was a mining hub because it had the lowest electricity cost. However, in 2018, the state government halted the addition of more miners to the grid. But later, the state government ruled that power providers could impose higher tariffs for miners. Apart from Now York, Louisiana provides the cheapest rates at an average cost of $3,224 per BTC. Other notable more affordable locations in the US are Tennessee, Idaho, Arkansas and Washington. Also, the US is very receptive to cryptocurrencies, and mining is mostly unregulated, giving miners a favorable environment in different states.

Venezuela

If you are looking for the cheapest place to mine Bitcoin, then Venezuela is the place to set up the shop. There, you can mine at $531 per Bitcoin because the nation is an oil exporter, and it also subsidies electricity. Despite the cheap cost of mining Bitcoin in Venezuela, the country is facing a severe economic crisis and massive corruption that may dissuade miners from setting shop. Moreover, while Bitcoin is technically legal, the practice is highly restricted. Finally, the country is experiencing a political crisis that has led to hyperinflation. On the flip side, inflation has brought about a large-scale adoption of Bitcoin. So, if you can bear with hyperinflation, food shortages, and power-outages, Venezuela is the best place to mine Bitcoin.

Russia

Russia is a country endowed with energy from natural sources. The cost of mining Bitcoin is estimated at $4,675. It is slowly positioning itself as a crypto-friendly country so that it can benefit from the fast-growing blockchain industry. It plans to provide miners with subsidized energy from its power grid. Also, the country has an advantageous regulatory climate on cryptocurrency. Legislators are currently considering enacting a cryptocurrency bill, which will most likely not affect mining adversely. Moreover, the country has a cold climate that is favorable for mining.

China

China is in the list of countries that mine Bitcoins across the world. It is home to top mining firms, such as F2pool, BTC, AntPool, and BW. These companies are estimated to control around 60% of mining power. Electricity in the country is relatively cheap, and this has made miners get a considerable percentage of hash power. The cost of mining Bitcoin in China is $3,172. Although the Chinese government has not been receptive to ICOs and exchanges, authorities allow cryptocurrency mining. In fact, in places such as Sichuan, mining firms access their electricity from the State grid, even under contractual agreements. Additionally, China is home to the leading mining hardware manufacturers, such as Bitman.

Myanmar

Myanmar, located in the Far East, is increasingly becoming a hotbed of miners. Actually, for Chinese miners, Myanmar is their preferred destination because it has relatively cheap power. Moreover, the rumors and threats of crackdowns on mining in neighboring China have made relocation to Myanmar the only option. It costs $1,983 to mine one Bitcoin in Myanmar.

Conclusion

Bitcoin mining can be a very profitable venture, especially if it is done in favorable countries. While miners can set up their operations anywhere across the globe, these ten countries provide a mix of economic, regulatory, and climatic considerations that earn them a slot in the top countries to mine Bitcoin.

Article Produced By
Lavinia C.

https://theccpress.com/countries-where-you-can-mine-bitcoin/

Thomas ClaimCo.in

Bitcoin Price Hits Bottom Says Peter Brandt

Bitcoin Price Hits Bottom Says Peter Brandt

All the BTC investors who were waiting for the price dip to even $6000 have missed their opportunity says a veteran trader Peter Brandt.

All the BTC investors who were waiting for the price dip to even $6000 have missed their opportunity says a veteran trader Peter Brandt.
As per a recent discussion on the 17th of Jan Stalwart said that the pairs like BTC/USD have already hit their bars. Brandt gave the conclusion that all the weak hands are out of the market now only the stronger hands are surviving in the market. With this, he continued that all now wanted a sit back and have a break at $6,000 and $5,000 but now they have missed the bottom. Being a long-time Bitcoin advocate, he shared his sentiments of him being changed in late 2019 that there remains a chance of Bitcoin to go in the lower lowes in 2020 and for this, he thanked a novice investors to whom he described as “cryptocultists”

Back in early 2018, just a month after Bitcoin reached an all-time high $20,000, Brandt already warned that the market won’t be going any higher and it would likely to retract and hit local lows as $3,100 which was 84.5% lower that year. Brandt also has some suggestions for those who are interested in what Bitcoin offers, he advised them to have at least 10-20% of the ownership of the capital that they could commit to the Currency on a bigger perspective. As of now, Bitcoin has already sealed monthly gains of around 35% having progress of 25% alone in 2020. While the latest statistics and data suggest that the Bitcoin extends a lot more beyond the customer’s need.

Article Produced By
Harsh Sangwan

https://bitcoinik.com/bitcoin-price-hits-bottom-says-peter-brandt/

Thomas ClaimCo.in

What is Bitcoin?

What is Bitcoin?

Enter Bitcoin

Today, we are living in a technological era where almost all processes have been automated and where human intervention has been reduced to a considerable extent. Due to the time constraints that people have today, they adopt technology to get their job done faster and more accurately. When everything else is turning digital, can a currency be left far behind?  In recent years, a leading digital currency known as Bitcoin has entered the stage. These are not physical coins, but are held digitally in one’s own valid online account. To send a payment, you initiate the transaction using the blockchain by entering the seller’s public address as the destination. The transaction is done within minutes. While Bitcoin helps to extinguish the hassle of dealing with money and credit cards, it also comes with its own set of disadvantages, like transaction spamming and overstressing the Bitcoin network.

In 2008, when the world experienced a great financial crash, Bitcoins came into the picture. It was introduced by Satoshi Nakamoto. We are still not sure if this is one individual or a team of individuals. This system was introduced to improve global awareness of digital currency. Bitcoin started off very humbly before they started growing at an astronomical rate in the recent past. Today, we find Bitcoin in almost every country in the world. Custodians of currencies have still not approved Bitcoin legally in most of the countries. Since they could not control the movement of the virtual coins, most of the regulatory organizations have issued a warning to the general public to deal with these coins carefully as they have been used for many illegal transactions.

Modus operandi

First and foremost, we need to know how we can obtain Bitcoins before we can proceed to understanding how to deal with them. Bitcoins can be obtained easily from online Bitcoin exchanges. You can either buy fresh Bitcoins with fiat currency from these online exchanges or trade them against your other existing virtual currencies. The Bitcoins that you purchase/trade this way will be added to your wallet. Here is how an actual transaction takes place – when you see that a particular seller is offering a product that you want online, you need to check if the seller accepts Bitcoin. If he does, all you need to do is log into your bitcoin wallet, key in the public address of the seller, enter the number of coins that the seller charges for that product, and click on “send.” Bitcoins get transferred within minutes.

In the background, what happens when you click send is that the system automatically detects your private key and uses your digital signature to send payment to the seller. From this, we can understand that it is only the public address that is made visible to everyone on the Bitcoin network. Private keys are not displayed anywhere; therefore, you can be assured of the confidentiality of your transaction. The entire system that records the purchase/sale transaction and monitors all transactions happening via Bitcoins on the network is known as the blockchain. The blockchain is constantly monitored by miners who check the authenticity of the transactions and subsequently process them.

Security parameters

Transaction through on the Bitcoin blockchain follow a thorough set of safety guidelines. Hence, it is next to impossible for fraudulent actions to occur. When you want to send Bitcoin from your wallet, the system automatically tracks the transaction back to your private key, thereby cross-checking that you have indeed initiated the transaction. Also, the entire blockchain is bound by certain strict cryptographic rules which ensure that all transactions are recorded and approved in a chronological manner. Control of the Blockchain is distributed amongst the miners and dealers where no single entity has the right to manipulate transactions. Another security measure is that transactions are authorized only after matching the digital signatures of Bitcoin wallet owners. This permits only the rightful owners to process payments.

Value of Bitcoins

Bitcoins, also known commonly as digital or virtual currency, do not have fixed value. They continue to fluctuate to great extents based on various socio-economic currents. There is no standard mechanism to value these Bitcoins. The value is decided purely based on a consensus that arrives between the buyer and seller. Due to the lack of any authorities or organization to govern and fix its values, Bitcoin values have varied widely in the past couple years. Let us see a historical example here – in 2014, one Bitcoin was worth around $450. At one point in the same year, Bitcoin was valued at over $1,000. During 2013, the value was somewhere around $200 and during 2011, it was only $5. The value continues to fluctuate based on periodic news or events. It remains this way because no exchange or central organization controls the value of these coins.

Units of digital currency

Bitcoin is often represented by the symbols BTC and XBT. However, Bitcoin is available in smaller denominations as well. Milli-bitcoins, micro-bitcoins and Satoshi or the most common sub-denominations. Of these, Satoshi is the smallest denomination and is one-hundred-millionth of one Bitcoin. A milli-bitcoin represents one-thousandth of one Bitcoin, and a micro-bitcoin represents one-millionth of one Bitcoin.

Road ahead

Bitcoins are easier to operate with because one doesn’t have to face the hassle of dealing with large amounts of cash. Also, when you use credit cards, your sellers may ask you to pay more due to service charges for the card. With Bitcoin, you can eradicate all these problems and perform your transaction within minutes once all the security formalities are completed. However, due to their high volatility and risky nature, these coins come with a lot of demerits as well. You are encouraged to deal with Bitcoins only if you thoroughly understand the terms and clauses. This way, you can save yourself from unpleasant surprises later on.

Article Produced By
Kewl

https://www.crypto-news.net/what-is-bitcoin/

Thomas ClaimCo.in

Bitcoin Price Analysis: BTC Dips Present Buying Opportunities

Bitcoin Price Analysis: BTC Dips Present Buying Opportunities

Bitcoin price is gaining bullish momentum

  • Bitcoin price rallied recently above the $8,400 and $8,500 resistance levels against the US Dollar.
  • The price traded to a new yearly high at $8,900 and settled above the 55 simple moving average (4-hours).
  • There is a crucial bullish trend line forming with support near $8,420 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase).
  • The pair remains well supported and dips towards $8,420 and $8,315 might prevent buy opportunity.

Bitcoin price is gaining bullish momentum and it recently jumped towards $9,000 against the US Dollar. BTC is correcting lower, but it is likely to find support near $8,420 or $8,315.

Bitcoin Price Analysis

In the past few days, bitcoin price started a steady rise above the $8,000 resistance against the US Dollar. BTC broke a few key resistances near $8,420 and $8,500 to continue higher. Moreover, there was a close above the $8,420 level and the 55 simple moving average (4-hours). Finally, the price surged towards the $9,000 level and a new yearly high was formed near $8,900. The price is currently correcting lower below the $8,800 level. There was a break below the 23.6% Fib retracement level of the recent rally from the $7,947 low to $8,900 high. On the downside, there many supports for bitcoin, starting with $8,420. Besides, the 50% Fib retracement level of the recent rally from the $7,947 low to $8,900 high is also near the $8,420 level to provide support.

More importantly, there is a crucial bullish trend line forming with support near $8,420 on the 4-hours chart of the BTC/USD pair. If there is a downside break below the trend line, the price could test the $8,310 support. Any further losses may perhaps lead the price towards the $8,100 support area and the 55 simple moving average (4-hours). On the upside, there are hurdles near the $8,800 and $8,900 levels. The main hurdle is near the $9,000 level, above which the price is likely to climb towards $9,200 and $9,250. Any further gains might push BTC towards the $10,000 level in the near term.

Bitcoin Price

Looking at the chart, bitcoin price is showing a lot of positive signs above the $8,420 and $8,310 levels. Therefore, there are chances of more upsides above $8,900 unless the bears push the price below $8,420 and $8,310.

Technical indicators

4 hour MACD – The MACD is currently reducing its bullish slope.
4 hour RSI (Relative Strength Index) – The RSI is currently correcting lower from the overbought zone.
Key Support Levels – $8,420 and $8,310.
Key Resistance Levels – $8,800, $9,000 and $9,200.

Article Produced By
Aayush Jindal

https://www.livebitcoinnews.com/bitcoin-price-analysis-btc-dips-present-buying-opportunities/

Thomas ClaimCo.in

Bitcoin Future 2020’s December 21st Online Conference will Discover Future of Bitcoin by Showcasing Experts Sceptics and Maximalists

Bitcoin Future 2020’s December 21st Online Conference will Discover Future of Bitcoin by Showcasing Experts, Sceptics and Maximalists

Malta’s Bitcoin Club announce details of their online conference

Bitcoin Press Release: Malta’s Bitcoin Club announce details of their online conference beginning December 21st 2019, to bridge the gap between “Bitcoin Twitter” and the outer world. The conference will see more than 30 speakers including Stephan Livera, Tone Vays, Giacomo Zucco and many more, with tickets as low as €9.99.

5th December, Valletta, Malta: Bitcoin is all about knowledge. Many people think they know everything but they actually have very little understanding. Bitcoin Future 2020 will change this and catch peoples interest at the heart. Bitcoin is not about getting rich quick, but a very beautiful new approach to money that can help millions of people around the world to have more chances to prosper and build personal wealth. The goal of the conference is dedicated to provide a high level of education without the restrictions of high cost. Often, conferences with world leading experts are unaffordable for many people so Bitcoin Future 2020 decided to use the internet to lower the entry barrier. This way participants can save on travel costs and accomodation for speakers and attendees, and use the proceeds to have even higher level experts on the lineup,

whilst heavily reducing the ticket price.

“It might make sense just to get some [Bitcoin] in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.” – Satoshi Nakamoti

Many experts expect the price to surge with the block reward halving in May 2020 and see the price shoot up to new all-time-highs. But right now the sentiment is low because Bitcoin doesn’t seem to be able to pull out of the bearish trend. One of the reasons for this could be the great discrepancy between the progress of Bitcoin on a technological level and the education and level of understanding of everyday people and business leaders alike. Bitcoin is currently on an its most advanced technological level, and much-needed second layer scaling solutions are being rapidly adopted, one exchange at the time. But not many people are aware of those developments as they have written Bitcoin off completely. Furthermore, many have been dissapointed, lost interest or even have a negative opinion about Bitcoin due to uncertain regulatory environment, price volatility and misconceptions.

Similar to the time before and after the 2017 boom, people were hesitant to buy when price was low, as they had little understanding of the technology. Then, based on emotional factors, they bought when the price was on its way to the dizzying heights seen at the end of the year. Many could not sell at the peak and now feel the pain of the price crash. However, regardless of price and regulatory elements, Bitcoin continues its march as a new asset class that has the potential to outperform

other asset classes and currencies.

“We aim to simply provide honest and unbiased information on how experts see Bitcoin in 2020. Experts who really understand the technology and have been working on it for many years. I expect we will blow minds of hundreds of attendees because purely looking at the lineup, I can’t believe myself how many amazing speakers we managed to bring on. It’s literally years of knowledge from some of the best bitcoin experts on the lineup” Said Leon Siegmund, Founder of the Bitcoin Club Malta

Leon Continued: “I am really excited for all the insights, the discussions and the workshop sessions that we will get. I love it when a lot of people can learn from each other and a conference creates this sort of momentum that really makes you feel the energy generated. I think it’s a must attend for anyone who is just slightly interested in the space.” 

The Bitcoin Future 2020 conference looks set to be one of the most informative and easily accessible conferences this year. The Malta Bitcoin Club are also offering logo sponsor opportunities, VIP tickets, and a very special “Bitcoin Billionaire” experience, with first-class flights, 5* hotel experience, private Tesla chauffer, spas, restaurants, and access to the Bitcoin Club Malta’s full range of connections for networking and leverage.

Article Produced By
Bitcoin Press Release

https://bitcoinprbuzz.com/bitcoin-future-2020s-december-21st-online-conference-will-discover-future-of-bitcoin-by-showcasing-experts-sceptics-and-maximalists/

Thomas ClaimCo.in

Bitcoin Set For Breakout Amid Escalating Iran Tensions

Bitcoin Set For Breakout Amid Escalating Iran Tensions

Bitcoin could be set for a major breakout as escalating tensions between the US and Iran drive investors

to safe-haven assets, with cryptocurrency and gold values surging. Tensions in the Middle East reached a critical point on Thursday after US President Donald Trump ordered a drone strike on a vehicle convoy near Baghdad International Airport, which killed the commander of Iran’s Islamic Revolutionary Guards Corps (IRGC) Quds Force Qasem Soleimani. Widely regarded as the second most powerful figure in Iran, his death has prompted a dramatic escalation of tensions between the US, Iran, and its allies. As a result, investors are flocking to safe-haven assets such as gold and oil, as well as Bitcoin, which has seen a short-term breakout.

The potential of impending war in the region led to a 3% pop in oil prices, 2% in gold, and, most interesting of all, a 5% rise in the value of Bitcoin (BTC). As Forbes reported, referencing a chart of the recent upward movement of the world’s largest cryptocurrency, “This is a very interesting chart because it shows the global professionals reacting to the news much faster than the private traders and it might be suggested this hike is the result of Middle Eastern retail piling into BTC as a flight to safety rather than the relatively non-existent institutional money.”

Forbes also said that Bitcoin has the potential to drive back towards previous all-time highs based purely off investors seeking out haven capital in territories where capital is intensely controlled, particularly in China and Iran. Bitcoin is a relative newcomer to the world of safe-haven assets and has an extra benefit over oil and precious minerals in that it is considerably more limited in its availability than other assets, and will condense even more following the halving, which is expected sometime around May.  Tether (USDT) Dominance Persists Amidst Mainstream Adoption. While Bitcoin enjoyed a significant bull-run in the first half of 2019, jumping from around $4,000 a year ago to nearly $13,000 in July, the latter six months of the year saw some sizeable losses as it closed at just over $7,000 on New Year’s Eve. The situation in Iran has ensured that Bitcoin is beginning 2020 in the green and is currently trading for just over $7,500.

Article Produced By
Caileam Raleigh

Caileam Raleigh is a financial content writer from Dundalk, Ireland who is currently working in Vancouver. Having graduated with a BA in Journalism with French from the Technological University of Dublin in 2019, he is currently a full-time contributor for PotStockNews, MicroSmallCap, CryptoCurrencyNews, and StreetSignals. Caileam cites music and football as his two great passions in life and is a fan of Liverpool FC, his beloved hometown Dundalk FC, and the sounds of Mr David Bowie.

https://cryptocurrencynews.com/bitcoin-breakout-escalating-iran-tensions/

Thomas ClaimCo.in

Bitcoin BTC Soars Above 8K Mark on Geopolitical Concerns

Bitcoin (BTC) Soars Above $8K Mark on Geopolitical Concerns

Bitcoin

One of the most remarkable events in the crypto space

took place in the first half of 2019 when Bitcoin (BTC) went on a remarkable rally that almost mirrored the rally from 2017. However, the rally soon fizzled out, and it has been a bit of a rollercoaster ride for the world’s biggest cryptocurrency by market cap. That being said, BTC has managed to make a remarkable comeback in 2020, and today it breached the psychologically important level of $8,000. It should also be noted that the token hit its highest level today since November, and it goes without saying that it has given rise to a lot of positivity in the market.Tensions in the Middle East Between the United States and Iran

Crypto market experts believe that the rising tensions in the Middle East between the United States and Iran are a major factor in the rally. The uncertainty in the market might have prompted people to park their money in an asset that is not controlled by any government, meaning a lot of capital might have flowed into Bitcoin. If that is the case, then one can expect this state of affairs to continue since the tensions in the Middle East are far from over. That being said, there are other factors at play as well with regards to this rally in BTC. Emmanuel Goh, who is in charge of Skew, a crypto derivative tracker, has stated that what is being experienced at this point in time is known as the ‘January effect’ in the stock market. He said, “Professional investors are also back from the Christmas break and starting to deploy capital.”

Telegram Releases Eagerly Awaited Update on Future of TON. That could well be one of the bigger reasons behind the rally in the world’s biggest cryptocurrency, but at the same time, it could also be said that the geopolitical stars have aligned for Bitcoin. Crypto enthusiasts would do well to track the movements over the coming hours. Bitcoin is trading higher by 1.43% at $8,032.

Article Produced By
Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI. Currently, he serves as a financial consultant and technical analyst at Tradersinsights.com.

https://cryptocurrencynews.com/geopolitical-concerns-grow-bitcoin/

Thomas ClaimCo.in

A tale of two Bitcoin

A tale of two Bitcoin

This article should really be called the tale of three Bitcoin: BTC, BCH, and Bitcoin SV (BSV).

But that title doesn’t have a nice ring to it, and in conversation, not many people seem to be concerned about BCH being a threat to Bitcoin SV. So for that reason, we will only be taking a look at BTC and BSV in this article. Many BSV supporters often compare the two networks. They put BTC head to head with BSV and believe we live in a world where only one of these networks will survive. However, I don’t think that’s the case—at least, not for the foreseeable future. I think a good portion of Mr. Ayre’s statement is correct; BTC and BSV don’t compete. I also think the part about anonymous tokens being banned is true, and that other blockchains are going to lose relevance—although for a different reason than the one Calvin states, but we’ll save that story for another day.

Why BTC and BSV will co-exist

Modern-day utility in BTC is that it is an alternative investment vehicle that has striking similarities to gold; for this reason, many people call BTC “digital gold.” Although Bitcoin SV also has that property (digital gold), the utility in BSV comes from it being an infrastructure protocol that can be used to create the internet of value. 

Alternative for gold

Today, BTC is primarily used as an investment vehicle. Although there was a point in time when it’s primary use-case was a pseudo-anonymous payment rail, those days are over. The government has cracked down on Dark Net Markets, and users of those markets have turned away from BTC to digital currencies that give them more privacy. In addition, BTC’s technical limitations, such as 1MB blocks, make it difficult for developers to build businesses and programs on top of the network, so for that reason, not many are interested in building atop BTC.

So if BTC is seeing a very small amount of activity as a payment rail, and if it’s not being used as an infrastructure protocol, then what is it being used as? Many will tell you that it is being used as an alternative to gold. BTC is similar to gold, but has many advantages; it has a finite supply, and it acts as a hedge against inflation, but it is easier to carry, is highly divisible, and is relatively liquid just like physical gold. Individuals who purchase BTC are primarily doing it for investment purposes. In other words, they are speculating on BTC and believe it will be more valuable in the future than it is today due to its similarities—and advantages—to gold among many other reasons that they might have.

Internet of value

And then we have the internet of value, which at the moment, can only come to fruition by using BSV in your stack. BSV does everything that BTC was supposed to do since it is not restricted by technical limitations. This gives companies the ability to create businesses and applications that empower consumers. Several companies are using BSV to build applications and platforms that give consumers ownership of the data they create online, the ability to monetize that data, censorship resistance, and increased transparency. 

Why both will survive

BTC and BSV will survive for at least two reasons:

1. they serve different purposes, and
2. they capture different audiences.

BTC attracts the majority of the individuals who are interested in an alternative investment vehicle. At the same time, BSV captures the lion’s share of developers who would like to build a market-disrupting business. Although BSV has all of the same properties of BTC  (without the technical limitations), we cannot overlook that BTC was first to market. I say that to say this, people—especially newcomers—are going to be more familiar with the item that hit the market first before they become familiar with the alternatives that followed. That is why we continue to see the individuals interested in an alternative investment gravitate toward BTC before they even consider that BSV is a viable option. And why highly technical individuals who have been a part of the cryptocurrency communities and markets for quite some time gravitate toward BSV.

Final thoughts

At the end of the day, both BTC and BSV are going to be around for many years to come. In all honesty, the two don’t compete, and they captivate different audiences. One is primarily being used as an alternative investment vehicle. The other is being used to create the companies and programs that could ultimately disrupt many modern internet applications as we know it, bringing us closer to a world with an internet of value that empowers the end user.

It is easy to get caught up in a dispute, even an echo-chamber, regarding why only one of these blockchain networks will survive. But when you talk to the average person, especially a no coiner who is interested in jumping into the crypto-markets, they are going to have no idea what someone means when they say that only one coin will survive. While BSV is considered the original Bitcoin now that BTC forked off taking its ticker symbol deviating from Satoshi’s whitepaper to create its own unique protocol, both blockchains will exist for some time since neither compete head to head anymore.

Article Produced By
Patrick Thompson

https://coingeek.com/a-tale-of-two-bitcoin/

Thomas ClaimCo.in

Best Slots You Can Play with Bitcoins

Best Slots You Can Play with Bitcoins

The online casino industry was one of the first industries to start accepting cryptocurrencies.

The blockchain technology that cryptocurrencies operate on worked well with the online casino industry as online gamblers wanted to maintain their anonymity and not disclose their personal or financial information. Online casinos that adopted cryptocurrencies such as Bitcoin – which is the most popular cryptocurrency in the world saw many of their players opt to use Bitcoin as their banking method. Today, there are a number of online casinos out there that allow players to use Bitcoin to play online slots, online poker and other games. Here is a popular choice. Bitcoin’s appeal as a low-key, efficient, and cheap means of money transmission has finally led to its widespread usage in casinos and their video slots. It’s certainly a hit among operators and online bettors seeking lower chargeback risk, reduced fees and a way to get around legacy payment systems. With that in mind, here are the 5 best slots you can play with Bitcoin.

5. Greedy Goblins by Betsoft

Greedy Goblins by Betsoft Software is one of the most popular online slot games that accepts bitcoins. It’s a 5-reel, 3-row, 30-payline slots game that can be played on both regular computers like PC desktops and notebook laptops as well as mobile devices like tablets and smartphones. This magical forest and monsters adventure game features both free spins and a progressive jackpot. This online slot has an encouraging RTP rate of 97.2 percent. The game is the sequel to Once Upon a Time, which also features the same goblin villains on a medieval fable or fairy tale setting. Its plot involves a magical forest setting full of the avaricious and covetous titular creatures going up against the brilliant-minded, adorable elves.

If the game proves to be to your tastes, you should have an easy time immersing yourself into its plot, which involves insatiable monsters keeping a watchful eye on every move you make and every win you get. The value of the coins can go from ¢2 to ¢5. You can also bet up to 30 pay lines with 5 coins per line, so the maximum bet spin should cost you $150 or its equivalent value in Bitcoin. That might sound like loads of money, but Greedy Goblins has an ironically huge maximum payout of 1.2 million credits.

4. Book of Pyramids by SoftSwiss

The Book of Pyramids is an online bitcoin slot by SoftSwiss. This 5-reel, 3-row, and 9-payline video slot has an Ancient Egypt theme and offers up to 33 free spins as a bonus. The online slot can be played via desktop computers, tablets and smartphones. This popular Bitcoin slot game has a generous RTP rate of 97.13 percent. Thematically, Book of Pyramids uses one of the oldest themes in the book when it comes to slots.

It doesn’t break new ground in terms of its Egyptian-themed presentation, as seen in its use of Egyptian artifacts and hieroglyphic symbols like pyramids, tombs (with gold playing cards), the Eye of Horus, the Eye of Rah, the Bastet cat, pharaohs, the scarab symbol (for the scatter), the Ankh, and Egyptian headrests. Although the game trudges through a well-beaten path, it’s still fun to play and easy to understand. Its creators are particular about numerology since all the numbers on the game are quite specific. For example, 3 or more scarabs can activate 11, 22, or 33 free spins. Furthermore, the best paying payout awards you 9,999 times your line bet if you get a 5-of-a-kind line. The second best is at 6,666 times, the third best is 3,333 times, the fourth best is 888 times, and so forth. Finally, the 9-payline slot is able to differentiate itself from other Egyptianesque slot games with its colorful graphics and decoration-rich interface.

3. The Ninja by Endorphina

The Ninja by Endorphina is another popular bitcoin friendly online slot. This online slot has a theme involving a ninja battling against a group of modern-day covert agents. The Ninja slot also features free spins and a 3D wild symbol on top of the ability to deposit and withdraw using bitcoins.

The mobile-friendly game is a 5-reel, 3-row, and 20-payline virtual slots machine. It also features a generous 96.13 percent RTP rate. The fascinating world of The Ninja showcases a feared and famous spy who’s so good he has earned the eponymous title as a badge of honor. The immersive and fun online slot game from Endorphina involves loads of thematic stealthy action translated into slots iconography. In terms of gameplay, it’s filled with free spins and bonuses that are represented by the most beautiful of animations throughout every spin attempt. You’ll feel like a spy gathering loads of intel and gaining hidden money wired to your bank account thanks to the many possibilities of winning cash rewards within the slots. The option to use a cryptocurrency also adds to the game’s mystique.

2. Platinum Lightning by SoftSwiss

This bitcoin-enabled slots game is another SoftSwiss hit and is called Platinum Lightning. This esoterically themed yet casual-friendly virtual slot machine game is a 5-reel, 3-row, and 25-payline game. In terms of reward opportunities, the game includes gambling rounds, a wild symbol, and loads of bonuses. It has a 96.29 percent RTP rate.

Instead of an Ancient Egypt theme a la the Book of Pyramids, Platinum Lightning has an Ancient Greek Mythology (also Roman Mythology) theme this time around, with a dash of Norse and Scandinavian Mythologies thrown into the mix. This has resulted in a hodgepodge of gods and events, like Thor going face-to-face against Hercules (or Heracles) as well as Zeus (or Jupiter) dealing with Ragnarok and the Titans side-by-side with the All-Father himself, Odin. Gameplay-wise, Platinum Lightning also has a lot going for it, from reels filled with mythological creatures like the Minotaur serving as the bonus symbol to Zeus Lightning serving as the Scatter of the game, which you can win if you have 3 or more of the lightning symbol anywhere on the reels. The Wild symbol is the ship that substitutes all symbols in the slots except for the Scatter symbol. To set your bets, click on the 3 lines to open the betting panel.

1. Satoshi’s Secret by Endorphina

Last on our list of best online slots that you can play with bitcoin is Satoshi’s Secret by Endorphina. Satoshi’s Secret is a 6-reel, 3-row, and 20-payline video slots game that’s both mobile-friendly and Bitcoin-friendly. It is currently one of the most popular Bitcoin slots available because of its meta-fictional theme. In terms of its rewards system, it includes gambling rounds, wild symbols, and quite a number of bonuses. It also offers a flat 96 percent RTP rate.

Even though it has the lowest RTP rate among the games featured on this list, it remains immensely popular because it’s thematically about hacking and literally about bitcoins. It offers symbols and icons like the bitcoin sign, letters of the alphabet, and even the symbol for the hacker character himself. Satoshi’s Secret is apparently about hacking for bitcoin, almost to the point that the slots game appears like an advertisement for the cryptocurrency. Its highest paying symbols include the hacker, the pound currency symbol, the euro currency symbol and the dollar currency symbol.

Its plot involves hackers hacking, social engineering, and phishing for the infamous virtual coin. You can choose between coin sizes and set the number of coins per line. It has a Wilds symbol in the form of a chip that has the word “Wild” written on it and it can substitute for all symbols save for the Bonus Bitcoin Padlock symbol. Bitcoin is already used widely in many online casinos and has quickly become a primary funding method at many. Adoption seems to be accelerating, and not just for Bitcoin, but numerous other crypto currencies like Bitcoin Cash and Litecoin as well.

Article Produced By
Crypto News

https://usethebitcoin.com/best-slots-you-can-play-with-bitcoins/

Thomas ClaimCo.in

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