There is hardly any doubt that Bitcoin is more than a bit of an economic revelation. The cryptocurrency that was born out of the eponymous 2008 Bitcoin white paper and launched the following year has been catapulted to the forefront of global attention. The emergence of Bitcoin launched blockchain technology and introduced cryptocurrencies to the world. In less than a decade that Bitcoin has been around, it certainly has made the news a lot. One question that has defied any definitive solution has been the puzzle of just how to value Bitcoin. The answer may lie in an approach developed by a Swiss research team.
The big guy from Silicon Valley wants a bite of the crypto pie and has decided that filing a new patent for a Bitcoin mining chip “accelerator” would be the best way to go about it.
How the crypto community reacts to it remains to be seen, but from the outset, it looks as though the chip giant wants to gain their trust by promising more energy-efficient mining.
Paxful is a global, peer-to-peer marketplace used to buy and sell Bitcoin easily, without the use of a third party intermediary, such as an exchange. Think of it as the eBay of Bitcoin as it connects buyers and sellers, and lets them set their own price.
Paxful was started in 2015 by Ray Youssef and Artur Schaback and is incorporated in Wilmington, Delaware, USA. While it is a U.S. corporation, it faciliatates trades on a global basis, and can be used in most any country in the world. The exceptions are those countries that have an outright ban on Bitcoin, and some countries that are under trade embargos by the U.S. These unsupported coutries at the time of writing are: Balkans, Belarus, Burma, Cote D’Ivoire, Cuba, Congo, Iran, Iraq, Lebanon, Liberia, North Korea, Somalia, Sudan, Syria, and Zimbabwe.
The price of bitcoin has taken a huge beating in the market, dropping from almost $20,000 in December 2017 to less than $6,000 in the early days of February 2018. So far in 2018, the bitcoin price has yet to show any signs of improvements as price climbs haven’t lasted more than a couple of days. As at the time of writing this article, the price of bitcoin has dropped over the last 24 hours to below $7,000. A number of experts and analysts have sounded the death knell for bitcoin declaring that the good days are over. However, one individual, the founder of crypto payments startup, believes otherwise.
One of the oldest cryptocurrency exchanges is Coinmama. This exchange was created in 2013, and is registered in Slovakia, although the parent company is New Bit Ventures, which has its headquarters in Israel.
Since its inception in 2013 it has spread its wings quite a bit and now offers its services in 217 countries, including Canada, Australia, the U.K. and the U.S., however it is only available in 24 of the 50 U.S. states.
You can also use Coinmama in many European countries as well as across Asia and in Central and South American countries. You can see a complete list of supported countries here to find out if Coinmama works in your country.
Thomas Lee is certainly no stranger to the world of finance be it mainstream or cryptocurrency. The former chief equity strategist at J.P. Morgan Chase is the only major Wall Street analyst to issue formal reports on the Bitcoin market. The co-founder of Fundstrat has been unequivocal in his stance that Bitcoin is going to bounce back from its current malaise, even going as far as to predict earlier in the year, a midyear price of Bitcoin in the $20,000 region and an end of year price of $25,000.
Kraken is a cryptocurrency exchange with headquarters in San Francisco, California, United States that was launched in July 2011, making it one of the oldest existing cryptocurrency exchanges. It was founded by Jesse Powell, who remains the CEO of Kraken, but the exchange is now owned by Payward Inc.
Despite its location in the U.S. it bills itself as “the world’s largest Bitcoin exchange in euro volume and liquidity”, and it serves clients in Europe, the U.K., the U.S., Japan and other countries across the globe.
It is also noteworthy that Kraken is the exchange providing pricing data to the Bloomberg Terminal, as well as being the exchange chosen to provide Mt. Gox creditors with claim support following the catastrophic 2014 hack that saw 650,000 Bitcoin go missing.
Blockchain technology has over the years been described as having the potential to disrupt and transform several aspects of the business process. One of the key areas of implementation that the technology has found is in supply chain management. The ability to track the movement of an asset or product across the vast supply chain network and record same in an unalterable digital ledger has led to the development of a number of blockchain-based supply chain management solutions. These solutions have been tested and utilized in several business segments such as FMCG, pharmaceuticals, and now, gold. Two companies have come together to create a blockchain-based gold supply framework that not only provides proof of provenance for gold but also ensure ethical best practices in the trade.
The Dash coin was created by Evan Duffield on January 18, 2014. Originally released as XCoin (XCO) and rebranded to Darkcoin in February 2014 – the promising Dash cryptocurrency finally settled on its current name on March 25, 2015.
A derivative of Bitcoin, Dash coin is essentially digital cash that works exactly like physical cash, except it’s exchanged on a highly secure, decentralized peer-to-peer network. It was designed to have a total supply of 18 million coins, 2 million of which were mined during its first day, and around 8 million of which are in circulation at the time of writing.
Because Dash’s code is based on that of Bitcoin, Dash is compatible with all existing wallets and cryptocurrency exchanges originally developed for Bitcoin. When measuring node count by market cap, Dash’s infrastructure robustness is more than an order of magnitude higher than the competitors’ like Bitcoin and Ethereum.
Google, the Internet Search Engine giant is reportedly working on a number of blockchain-based protocol solutions for its cloud service. This is again another clear example of the levels to which blockchain technology has penetrated the business scene. From governments of different countries to multinational corporations like IBM, the technology appears to be sweeping through several industries causing disruptions and considerable paradigm shifts in their business ideologies.