Author: Editor

Is This Bitcoin’s Bottom?

1 min read

The Bitcoin price has dropped below the $6,000 after initially below the $6,000 on June 23. Bitcoin officially fell to the lowest level from the beginning of this year. This drop is almost identical to the 2014 situation when BTC experienced an 80% correction from its all-time high.

In fact, there are almost no differences, as both collapses are caused by the same cause by the eruption of a retail investor bubble. On the end of May and from the beginning of June, it seemed that the crypto market is recovered. The market was, for almost two weeks, stable.

Bitcoin price charts are an electrocardiogram

In today’s article Bitcoin falls below $6,000. But crypto trader says it’s not dead, Kellie Ell CNBC’s author, with reference to Brian Kelly, founder, and CEO of BKCM LLC, an investment firm focused on digital currencies, write:

”Bitcoin fell below $6,000 on Friday, but bitcoin bull Brian Kelly told CNBC that the popular cryptocurrency is “not dead.”

While Kelly said the drop is “painful,” he also said it’s not unusual.

“This is not the funeral for bitcoin whatsoever,” Brian Kelly, founder, and CEO of BKCM LLC, an investment firm focused on digital currencies, said on “Fast Money” Friday.

“Let’s put this in perspective,” he said.

“Do you know where we were a year ago? $2,500.”

How To Make Money With Blockchain Technology?

This morning value of Bitcoin was $5, 852 which is the lowest price from the beginning of the year. Now, at 4 PM CET, it is $5,927. Will, it hit quarter-million dollars. as Tim Draper said several days ago?

For sure we have to wait. The truth is that the Bitcoin price is very unstable, with big and fast ups and downs. For some crypto fans, it is the true charm of Bitcoin. For ordinary people, buying Bitcoin is madness.

You might be interested to read: Why you shouldn’t invest in bitcoin under any circumstances

I’m sure we have to wait until 2022. It will be fun to see opponents how they are sad for not buying Bitcoin earlier when the Bitcoin price was much lower.

24th June 2018
Ethereum is not security said SEC

Securities and Exchange Commission final words

3 min read

Ethereum, the world’s second most valuable cryptocurrency has been boosted by a major ruling by the Securities and Exchange Commission (SEC), which declared that ethereum is not a security.

The announcement by SEC director of corporate finance, William Hinman, caused the price of ethereum to rise by 10 percent, bucking a recent downward trend of other major cryptocurrencies like bitcoin. The director said that the institution won’t treat ETH as a security, and it doesn’t see value in regulating it.

Experts say SEC decision is generally positive.

At a Yahoo Finance Crypto summit, Hinman described ethereum as ”sufficiently decentralized,” meaning no central authority could manipulate in an unfair way to gain a financial advantage.

”As a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful,” Hinman said. ”Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.”

Investor contracts that involve Bitcoin may be classed as a security if they meet certain criteria or offer a future increase in value, according to Hinman.

Experts said the decision was generally positive for the industry and could lead to more positive regulation for other alternative digital currencies.

”This is the latest in a series of events which demonstrate how cryptos are pervading mainstream thinking,” Iqbal Gandham, UK managing director of the trading platform eToro, told The Independent. ”We know that institutional investors are waiting for regulatory clarity to move from the sidelines to the center of the playing field. Remarks like this suggest it might not be long to wait until we get there.”

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Oliver Isaacs, a blockchain investor, and adviser added: ”I think the news is certainly positive and the markets have reacted accordingly – Hinman’s speech is essentially saying that even if something is issued as a security, it can over time morph into something that isn’t.”

Regulators discussion

Regulators debated for several weeks on whether the world’s second-largest digital currency, by market capitalization, should be considered equity, and the key point from the ruling is that US securities laws will not apply to Ethereum as a tradable commodity because of its decentralization.

SEC chief Jay Clayton previously put crypto investors on edge when he stated, back in April, that “every ICO I’ve seen is a security.” Bitcoin was the exception said Clayton, adding that he did not consider the virtual currency equity. This latest ruling though would seem to overturn this blanket sentiment and give a long-needed boost to crypto-currencies.
Ethereum bounced higher by 15%, back above the key $500 level, as it continues to be in a relatively technical position compared to Bitcoin. Ethereum is different from Bitcoin in that it is an open-source decentralized application (dApp) platform rather than a straight out currency or store of value. At the same moment, EOS is still in the strongest position form a technical standpoint among the majors, while Ripple and IOTA are also on long-term buy signals, holding up relatively well in the bearish environment. EOS bounced off the $9 support and rallied above $11, with the key $12 level now ahead as resistance.

The weakest major are still trading below vital support levels, and the next period will be crucial as bulls and bears battle for long-term control.

Traders shouldn’t enter new positions here, it remains well above the April lows, in a clear long-term uptrend. Ethereum and crypto markets are still bearish and in decline from their all-time highs after the end of the last year. There are many hoping that they are approaching the bottom.

Stay tuned for our detailed long-term technical analysis, we’ll be back soon.

Risk Disclosure (read carefully!)

24th June 2018
Do You Need A Broker To Trade Crypto?

Read to the end.

By Guy Avtalyon

Do you need a broker to trade crypto?

Nowadays, everything revolves around Bitcoin and cryptos. Due to the exponential increase in the price of most cryptos, an increasing number of people are considering how they can profit from it. So far, you’ve only been watching from the side of the other, watching others fill their pockets … it’s certainly an unpleasant feeling. It’s time for you to start trading!

When you first start taking an interest in cryptocurrency you may think you are so lost in this huge sea of unknowns.

Do you know how does the cryptocurrency market work? FIND HERE

Where do you start? What are the useful keywords to look up and keep in mind? What are the available helpful resources?

The question: Do I need a broker to trade crypto is the mother of all questions.

To whom I can trust is the main and most powerful weapon when you have to choose the way to trade crypto.
Over time, many have proven themselves to be scammers, and people lost trust. But you still have wonderful platforms. So, the answer is:

No, you DO NOT need a broker to trade crypto.

And of course, you may trade bitcoins with anyone without having to pay fees to a centralized exchange. True is that you don’t need any kind of mediator or agent between you and the crypto seller. I think the big advantage of bitcoin is no middle man.

You don’t need a broker to trade crypto

All you have to do is to use one of the trading platforms’ equipment with very good software. And there are scores of trading platforms. Powerful, to which you can trust.

The most common place where people buy and trade cryptocurrency is on the exchanges. Those are places where you may buy and sell your crypto, using fiat. There are multiple measures to judge the reliability and quality of an exchange, such as liquidity, spread, fees, purchase and withdrawal limits, trading volume, security, insurance, user-friendliness.

The first thing you really need is access to the “marketplace” from where to buy these cryptocurrencies. In other words, if you want to trade cryptocurrency you need:

1) cryptocurrency wallet
2) cryptocurrency exchange to trade on.

Simple as that.

Choose some respectable exchange and follow instructions. It mostly comes down to the following. After setting up an intermediary bank account and verifying your details, you are only five simple steps away from a Bitcoin purchase:

1) Access the ‘Buy/Sell Bitcoin’ tab
2) Select the payment method using the drop-down menu
3) Enter the desired amount
4) Click ‘Buy Bitcoin Instantly.’
5) View your credited Bitcoins on your dashboard

This process sometimes should be repeated several times.

But it’s worth it in the end. Of course, it isn’t without any fees but fees are much lower than if you use a broker.

If you’re interested in trading Bitcoin then you have a broad range of cryptocurrency exchanges from where to choose. But first make sure the exchange you pick accept fiat deposit so you can buy Bitcoin directly with your fiat money (US Dollar, Euros, etc.). Secondly, you want to make sure your preferred cryptocurrency is listed on the exchange. The most popular Crypto Exchange is CoinBase. But you can also use GDAX, BitFinex, Wirex, Binance, Coinmama, Bitpanda, or similar.

If you want a bunch of fancy tools with which you can buy and sell cryptocurrencies you’ll want to use one of the exchanges that offer you a large variety of order types.

An important factor when deciding your preferred cryptocurrency exchange is to research it thoughtfully and also listen to other user reviews and experiences.

So, the answer to the question is – NO!

If you want to invest in cryptocurrency, and not just buy/sell/trade, then you have a few options:
a) New investors can choose an exchange to buy coins on and a wallet to store the coins in.
b) An exchange-broker-wallet hybrid that allows customers to buy/sell/store cryptocurrency or some else options which I don’t want to recommend one until I reviewed them.

But that is a completely different story.

24th June 2018
A Trading Portfolio Should Look Like…

Take a big breath and a pencil.

2 min read

Everyone has dreams about how the good life should look like. But it, besides earning enough money, it is necessary to build an investment or trading portfolio. Especially if you want to invest or trade cryptos.

Before you begin building your complete financial portfolio you have to be calm and reasonable.

Take a big breath and a pencil.

The whole process of building a trading portfolio should be done in SEVERAL STEPS:

STEP 1: Define why do you want to invest or trade. Your purpose is very personal. If you thought saving and investing meant the same thing, you were wrong. Savings are the unutilized part of your income. Only when you put your savings partially or entirely into an investment instrument, it qualifies as an investment.

STEP 2: Be realistic about your appetite for risk. Most of us know how much we have saved to date but very few of us have a realistic understanding of how much risk we’re willing to take on to achieve our financial goals. Your risk appetite will depend on your age and financial responsibilities.

Young investors are under enormous stress! READ MORE

STEP 3: Understand the relationship between risk and return. Risk and return are directly proportional to each other. Higher the risk involved, higher is the return and vice versa. For example, you have promises higher returns compared to fixed deposits, but it also comes with a relatively higher risk.

Step by step to the trading portfolio

STEP 4: Create a contingency fund. Honestly speaking, this has to be the first. Before you invest or trade anywhere, you must create a contingency fund for those rainy days. A contingency fund worth six months of your current income is good enough to keep you from dipping into your investment funds.

STEP 5: “If you don’t know where you’re going, you’ll miss it every time.” – baseball philosopher, Yogi Berra. That means, you know your purpose for investing, but do you know what it will cost to achieve that purpose.

STEP 6: Invest with a plan. The most successful portfolios are assembled based on a solid understanding of the fundamentals of the individual securities that comprise the portfolio. The trading portfolio should also factor risk tolerance into the balancing discussion.

STEP 7: Give it time. While there may be some investment choices that you hold for shorter periods of time than others, overall, maintaining the long view should deliver consistently positive returns.

And general advice while building a trading portfolio: TRY NOT TO BE OBSESSED!

Markets can be volatile from day to day, even month-to-month, never mind hour-to-hour especially the market of cryptocurrencies. But over longer periods of time, volatility subsides. Build your portfolio and let it run.

Checking the market every 15 minutes or so won’t affect your portfolio, but it will affect your sanity.

When a lot of people think of investing or trading, they imagine painstakingly picking individual stocks, tracking their daily performance and constantly buying and selling. This may be good and interesting for TV shows or movies. But in real life it is agony.

All you need to do is pick a couple of funds that attempt to mimic the total market’s behavior, and, for the most part, leave them alone for 5 or 10 years. It’s very simple, and it’s something everyone can and should do. In fact, it’s one of the best ways to effortlessly build wealth in the long term.

There are more cryptos to the market and a good portfolio will usually include a few different types of investments.

Are there any differences among trading portfolios for different assets?

But when we are speaking about the trading portfolio, the principle is the same for cryptos and stocks: suitability, balancing different sectors and fund/crypto types.

You can build a cryptocurrency portfolio using a risk-reward formula if that is acceptable to you. You are that one who has to decide how much risk you want to take on and that should influence which coins you invest in.

Recommendation is keeping at least 50% of your portfolio in safe-ish coins like Bitcoin, Ethereum, Litecoin, Icoin.

When building your own cryptocurrency portfolio you should not simply copy mine, always do your own research and decide which coins you can be excited about. Crucially, the entry point is very important and I entered many of these coins months ago when they were cheaper, there may be better buys out there right now. Buying more coins to expand your cryptocurrency portfolio is a smart idea.

Diversify trading portfolio

The more you diversify, the better your chance of hitting a coin that flies to the moon.

To properly expand your portfolio, you will need to join a trading platform, some of the largest and most trusted trading platforms which list a wide selection of decent coins.

Once you have your BTC in place on a cryptocurrency exchange, you can then expand your portfolio and buy other coins.

How to structure your stock portfolio? HERE IS THE ANSWER

24th June 2018
10 Things You Need To Know Before Choosing A Broker

One of the biggest decisions you’ll have to make is which exchange or broker to deposit funds with.

By Guy Avtalyon

What do you need to know before choosing a broker? A decision to choose the broker may be a nightmare for traders. If you read about them on various forums or read paid bad reviews, you can really find yourself stuck in that. One of the biggest decisions you’ll have to make is which exchange or broker to deposit funds with.

If you’re looking to buy a cryptocurrency in an ICO, the advice is to read the company’s prospectus for this information:

a) Who owns the company? A recognizable and popular owner could be a positive sign.

b) Are there other major investors who are investing in it? It’s a good indication if other famous investors want to invest in the currency.

c) Will you own a stake in the company or just currency or tokens? This distinction is important. Holding a stake means you’ll get to share in its earnings, while buying tokens simply means you’re allowed to use them, for example, like chips in a casino.

d) Is the currency already developed, or is the company looking to raise money to develop it? The further along with the product, the less risky it is.

What things you need to know before choosing a broker

Before you jump in all of this you have to check:

1) Demo Account: Before risking your own money, it is absolutely crucial you trade with a demo account. You need to know before choosing a broker if it offers a demo account Demo accounts are the best option a trader has to test a trading strategy and evaluate how they are as a trader. It might not be perfect, but it is better than the alternative of jumping straight into the deep water.

2) Accessibility: Before you sign a contract with a broker, test out their customer service and support. Are they accessible? If you have a problem whether it is technical or general, is there someone there whose only job is to provide you better service?

3) Legitimacy: It is important to check on the broker’s website for any additional financial information and statistics about the brokerage. If it is not there, check on the parent company’s site, and if you cannot locate this information, this should raise a red flag. This is information you need to know before choosing a broker.

Also, you can CHECK HERE

4) Resources: It is important to ensure that the platform competes with the market standard of including real-time charts, integrated technical analysis tools, live news, and updated market data, and sometimes support for trading systems.

5) Foundation: The number of online brokers is expanding fast, so you’ll need to check and double-check before signing anything. Particularly if it involves very large amounts of money. It is therefore important to investigate who and what is behind the brokerage and how strong its foundations are.

6) Competitive Spreads: After determining the integrity of the online broker, now you need to evaluate the quality of their offering. It is of absolute importance to find a broker with the smallest spreads. That will warrant maximum profit for you.

What else is important when picking a broker?

7) Leverage Flexibility: is one of the most important advantages of the market. But large leverage is not always the top option for all traders. The larger the leverage involves the higher risk. So if you have limited money, higher leverage will increase your opportunities, that’s sure. On the other hand, if money isn’t a problem, lower leverage is better to pick.

8) Account Types: Alike with the leverage, the type of account you choose will depend on your needs in trading. When choosing a broker, it is important it offers several types of trading accounts.

9) Lenient Margin Rules: If a brokerage has strict margin rules, you might encounter a sharp decline in one of your positions. So, before it gets a chance to recover and make you some profits, your broker can make a margin call. That can liquidate your account. This will result in great losses for you. It is important to know that broker’s margin rules are not too severe.

10) Emotionless Trading Features: You need to trade in a cold and calculated way so as not to let your emotion get the best of you. One of the guiding principles in successful trading is “Leave emotion out”. This is done by setting a broker’s trading platform and under no circumstances deviating from them. The main advice is don’t rush into it, check your broker against the above criteria, establish a trading strategy, examine the market using technical and fundamental analysis.

And experience of other traders too.

24th June 2018
Attempt To Neutralize The Gray Economy Or More Control Of Citizens?

1 min read

One of the most read online publications brings the news that the Australian government has made big cash payments illegal.

The right question is, is it just giving a free boost to cryptocurrencies such as the Bitcoin?

Or attempt to neutralize the gray economy?

”From July 1, 2019, any business transaction over $10,000 has to be done using electronic payments. Handing over a hundred $100 notes or more will be illegal, as the government tries to flush out tax avoiders, drug dealers and the rest of the underground economy. Bitcoiners and other cryptocurrency fans predicted this, and the government is playing into their greedy little hands.” wrote the mentioned publication.

The most intriguing question is why the Australian government made such a decision.

The Australian government is quite progressive with blockchain.

They’ve given a grant to power edger. Australia Post is working with Alibaba and the stock exchange is moving to the blockchain. They are trying to reduce the gray economy and know they’ll have more success with blockchain.

At first look, everything is screaming of free will and giving out of control. I think I understand their reasons.

But, is this the right move?

Do they (the governments) realize that they are providing more room for the cryptos?

I don’t think so. Luckily!

Neutralize the gray economy?

Well, truth is that cash is used for drugs and money laundering, so at first glance, you may think that you can sort of see their point.

But if you think a drug cartel can’t find a way around, you are fooling yourselves. That’s why this isn’t a way to neutralize the gray economy.

On the other hand, the Australian government clearly stated that they want to accelerate the movement to the digital economy. Maybe the people who make the decisions want to move to digital money, but of course centralized digital money.

Governments can ban crypto in the same way, unless they’ll be able to track payments.

In most of the countries of the EU, this is already an unofficial law.

This is kind of dumb because you are forced to have your pockets filled with heavy metal coins. You can find the laws or regulations of cash limitation in Greece, Portugal, Germany, Italy…

And what they are doing is banning the free will actually! All of them!

You would like to read about banning Bitcoin in India

Cash is money outside of government control. Prohibition of cash will only divert more funds into crypto, outside of fiat system. And this is the reality with which governments will face very quickly. It’s scary that these countries limiting cash payments, and that people are not more concerned, one might say. Many people are still stuck in their old ways and refuse to see the answer. The only possibility is to continue with education. People should know that regulation will help popular acceptance of cryptocurrencies, however, you can only regulate the gateway between fiat and crypto.

That’s why this regulation and cash ban is bonkers.

Why issue bills and then say it’s illegal to use them in large amounts? Slowly but surely governments are edging towards a cashless society. And that is an opportunity for cryptos. People will realize that Bitcoin or some other cryptocurrency can be used for everyday transactions.

Cryptocurrencies’ time is coming, that’s for sure!

But some people have this point of view: Bitcoin/crypto is a government’s dream. They want to force everyone to eventually use it so your payments can be totally tracked.

This applies only to those who are not familiar with blockchain technology.

Blockchain technology created the backbone of a new type of internet by allowing digital information to be distributed but not copied. The blockchain database isn’t stored in any single location. No centralized version of this information exists. Hosted by millions of computers simultaneously.

Yeah, it’s kinda tricky!

You can track 3 or 5 or 15 accounts but track billions are impossible.

You MUST read Why you shouldn’t invest in bitcoin under any circumstances

24th June 2018
How to Start Trade Crypto?
Should you buy or trade crypto? Before you make a decision it is important to consider the differences between these two strategies in detail.

By Guy Avtalyon

Trade crypto – do you know how to do that? No? Don’t worry.

Read this article to the end. I want you to learn everything I know about trading crypto.

And it is a handful.

In the following articles, I will teach you, I’ll hold your hand until you feel you’re becoming a professional trader.

Here you will find lessons and instructions on how to trade with CFD, options, and cryptocurrencies.

In fact, in the past few weeks, I have received a lot of invitations from friends and acquaintances about how to trade crypto, and I decided to write these brief instructions in which I will explain in the simple way the possibilities to become engaged in crypto trade.

You can also see our FULL article on how to trade in cryptos (Updated Oct 15, 2018)

For the past year, cryptocurrencies have gained popularity, especially after the fact that people who bought Bitcoin 7 or 8 years ago, for several hundred dollars, today are millionaires. It’s hard for you to become millionaires if you start trading today, but it can still be very well profitable.

And maybe you want to buy a crypto and have it as a kind of savings account.

So, let’s start!

What to trade crypto?

First of all, you have to know that all successful traders were once the beginners who studied trading from the very basics while they gained experience over time. I am not going to explain the background of the cryptocurrency and how it works, because it is not relevant to trading for the average user. Most importantly, you have to know that the most popular currencies are: Bitcoin, Ethereum, and Litecoin, so I recommend that you initially focus only on them. There are currently hundreds of currencies worth $ 0.00001 per unit and they hope that one day they will become the new Bitcoin. There is always room for earnings with the three “main” currencies because they are very volatile. For example, the Bitcoin prices are often changing for over a few hundred dollars any day. The trading principle is the same as for any store – buy low, sell high.

Given that the cryptocurrencies are volatile (Bitcoin, in particular), there is always room for profit.

At first, you need to open an account and a wallet to buy or sell cryptocurrency. There are hundreds of different platforms for it. The registration process is actually very simple. Fill in your personal information and in the end, you will need to scan your ID card or passport through a webcam or mobile phone (if you register with a mobile application). This process sometimes should be repeated several times (I scanned it 3 times) because it may happen that the application can not read data (for example, if you do not hold the document steady in your hand). Once you have done this, you will receive a text message with the code that you will use for the first login on your mobile phone. After you are logged in, you will be presented with a dashboard. Here’s where you signup to Coinbase.

How to trade crypto?
1. Instant purchase via debit/credit card
2. Through a bank transfer of money from your bank account to your trade account.
What to do afterward, I will explain to you specifically on the case of registration on the largest CoinBase Platform.

If you are buying with the card, the process is quick, but the fee is 3.99% higher (card purchase fee) + 1.49% (standard Coinbase fee). If you decide to transfer via a bank, you must first send one euro/dollar to CoinBase account to confirm that it is your bank account. Then transfer the amount you want to trade with.

To transfer money to a Coinbase account usually takes 2 business days. The money will appear in your EUR/USD wallet and then you can buy crypto. All details for bank transfer payment will be found under Setting -> Payment Methods -> Add payment method.

Decide by yourself which method suits you better. If you don’t want to buy crypto right away, you may have better options. When you are ready to purchase, you have Buy/Sell on the toolbar.

Well, you’ll need first to choose which currency you want to buy. Then the method of payment and the amount. On the left side of the screen, you have details of the transaction. After you buy the crypto, you will receive an email confirmation that the purchase is completed.

You are now officially the owner of a cryptocurrency.

Congrats!

Trade crypto for profit

All you need now is to monitor the graph and decide when to buy or sell.
Side note: Coinbase is designed more like a wallet in which you will hold your cryptos, than as a platform for active trading (because the fees are quite high).

If you are planning to sell and buy every day you should use some other platform.

More about this on another occasion, in the continuation of teaching. One step at a time! But I want to tell you that trading crypto is based on the principle of stock trading. Let’s say this way, when you buy crypto you’re buying it in the hope the price will rise. So, you could sell it later and become a millionaire, right?
But, when trade crypto you are taking advantage of markets that are falling in price. The same comes when the markets are rising. In trading in general, this is well-known as going short.

Crypto market volatility

The cryptocurrency market volatile due to huge volumes of short-term profit and frequent trades. For example, do you remember October last year when the price of bitcoin rose to $19,378?
The volatility of crypto is an ingredient that makes the crypto market so exciting. Accelerated intraday price changes can provide a spectrum of opportunities for traders to go long and short. but pay attention, this also comes with great risk. You’ll need a risk management strategy.

I hope the instructions were helpful. Feel free to share this with someone you know to be interested in cryptos.

But remember one thing.

Trading and use of information presented here is at your own risk

You can learn also about trading currencies here
24th June 2018
What With Bitcoin After DEATH

1 min read

Bitcoin after death! A bizarre topic, I know, I know, but shit can happen. Yeah? And no, of course, I don’t mean “death” of bitcoin, but miners and owners. I would like to ask you something.

If something is virtual, can it be inherited after someone’s death? You know, it isn’t lol, that is a serious question.

And unfortunately, it’s already happened.

Bitcoin after death

It happened to the family of a young man who died in his early 30th’s.

A family of young men, Matthew Moody from California found themselves facing this problem. Namely, Matthew was one of the early miners of the cryptocurrency, or rather bitcoin. Then, when mining didn’t need special equipment, a dozen graphics cards and their own power plant in the basement. Time of crypto – pioneers.

But Matthew died five years ago, and he also left behind the bitcoins. Nobody pays attention to it but as the value of bitcoins grew, his family wanted to take over them. And then there was a problem in front of them. There was no lawyer who can give them advice or help because inheriting bitcoins was a totally new area.

Cryptocurrencies were an unknown area.

The question is can the bitcoins be inherited?

Matthew’s father tried to determine how much bitcoin left his son behind, but without the key to accessing a virtual wallet, it seemed like a mission impossible. The problem is that there is no rule to regulate what is happening with bitcoin (or any other virtual currency) after the death of the owner.

Unlike them, the classic money deposited in the bank can be reached even after the death of the owner if you prove that you are a heir.

In the case of bitcoin, there is no centralized body (which is the main advantage at the same time) that would solve such problems, and even the classic legal bodies actually do not know what and how to solve this problem.

The issue on legislation -What With Bitcoin After the death

This will be one of the issues that legislators will have to deal with if they want to regulate crypts and their use in the future. Desiring that such bitcoins do not end up on garbage, stock exchanges dealing with the trade of cryptocurrencies are considering introducing the security mechanisms. They would be activated after the death of account owners, which would simultaneously allow the heirs to reach those cryptos.

Some of the biggest brokers like CoinBase (and they are maybe unique), have established a kind of custodial service that keeps the user’s private keys. The same ones without which it is impossible to access the user account or wallet.

If something happens to the owner, those asks the successor for proof of death and inheritance in order to transfer funds to his heirs.

But users are those who will ultimately have to take into account and include the inheritance of cryptos into their wills. Or at least notify family members that they own crypto and where it is stored.

The point is, do not forget your cryptos and leave them out of your will. I mean, it’s smart to do this if you love your family.

Including with the key, of course.

You would like to read HOW TO MONETIZE BITCOIN

24th June 2018
Cryptocurrencies a Powerful Tool Against Hyperinflation?

2 min read

Cryptocurrencies are a powerful tool against hyperinflation

Cryptocurrencies can be a powerful tool in protecting your funds against hyperinflation. There are pros and cons at the same time. In an interview on The Late Show with Stephen Colbert, Reddit co-founder Alexis Ohanian said yes. He believes cryptocurrencies can be an effective tool in protecting your funds against hyperinflation. The reason he prefers cryptocurrency over regular fiat currency lays, in fact, that ”Cryptocurrencies are fuel for a potentially new internet”, as he said.

Reddit co-founder Alexis Ohanian

Ohanian told: “Things like Bitcoin and cryptocurrency are an opportunity for us to have a store of value that is not backed by a single country.” Further, he told that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention – especially in countries dealing with unstable political and economic predicaments.

“We sort of take it for granted the fact that we all have bank accounts, and we move money here and there, but for so many people in the world to have actually this security of knowing that what is yours is yours, because it is now digital, could be transferred with you wherever you are going, is actually pretty empowering,” said Alexis Ohanian.

Ohanian’s viewpoint is that Bitcoin can still offer more stability than the fiat currencies of countries struggling with hyperinflation in spite of the highly volatile nature of cryptocurrencies. He recently made headlines with his predictions about the price of Ethereum and Bitcoin. A few weeks ago, the Reddit co-founder made a prediction that the prices of BTC and ETH (respectively) will reach $20,000 and $1,500 by the end of the year.

Many are willing to say that this is an extravagant or pretty baseless prediction.

But do you remember the end of last year?

And Ohanian is not the only Silicon Valley entrepreneur who is bullishly optimistic on cryptocurrencies. Twitter co-founder Jack Dorsey has also previously expressed believes that Bitcoin will be the world’s primary currency by 2028.

The idea of utilizing cryptocurrencies to fight hyperinflation has been explored in multiple countries.

Such experience has in Zimbabwe, Venezuela, and Argentina.

Many people turn to cryptocurrencies during hyperinflation in wish to save themselves from losing their money. This sometimes temporarily drives up the local buy price of the cryptocurrencies.

We will see.

For now, the fact is that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention. Especially in countries dealing with unstable political and economic predicaments.

Contrary to this Bank of America CTO said that Bitcoin wasn’t ”transparent in the financial moment of money.”

That is totally strange because the definition of blockchain is – a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly – so they have to realize that Bitcoin is much more transparent than the current banking system.

Many world big companies such as JP Morgan, Goldman Sachs, Bloomberg, New York Stock Exchange or NASDAQ jumped into crypto.

Is the Bitcoin solution for protecting of hyperinflation?

As you can see some experts say YES, some NO.

On an example of Venezuela, we may try to find the answer. Venezuela created its own cryptocurrency in order to try to get out of the crisis and they named it – petro. But, it is not like other cryptocurrencies.

The name Petro is a kind of program of that currency: the value of each petroleum will be covered by the crude oil barrel. In addition, as President Nicolas Maduro has announced, as currency insurance other raw materials are used. The “petro” came in response to the Venezuelan authorities’ financial blockade and sanctions, and this is not about ordinary blockchain, but its value is based on state reserves of oil, gold, gas, and diamonds.

Cryptocurrencies against Hyperinflation

Two months later, Venezuela offered to sell its crypto, and currently, about 82 million tokens are available, which the government could sell next months. The plan for the sale of the ”petro” currencies is on the website, which was created specifically for this occasion, and the price of one unit depends on the price of one barrel of Venezuelan oil.

President Maduro’s plan to deal with the economic crisis continues, and it is still expected that Petro will affect the economy of Venezuela, and becomes an alternative to the physical currency.

OK, Venezuela seems to have broken a common financial law: in the world’s oil trade, the price is always calculated in dollars. But that is the other view of problem.

Will it is helpful to Venezuela or not we will see. Intention to create their own cryptocurrency has some other countries faced with hyperinflation such as Zimbabwe and Argentina were. On the example of Venezuela, others will make decisions. The point is: can cryptocurrencies be instrument or way to beat hyperinflation?
Alexis Ohanian and many other experts said yes.

If you want to know more about the best stocks to invest during the inflation you SHOULD READ THIS

24th June 2018
Facebook Blockchain – The More You Know

1 min read

Some time ago we got news from Facebook. They confirmed that they were planning to launch a new team dedicated to the blockchain.

Well, most of us have some knowledge about blockchain but the main question about Facebook is how would they be using it, if we have in mind the recent events related to the use, as we thought, protected data by this social network?

But the main question at Facebook is WHAT IS THE BLOCKCHAIN.

The responsibility to find the answer fell on David Marcus, the Facebook executive who has been running the company’s standalone messaging app, the Messenger.

The task for him and his team is to explore the blockchain technology.

In the beginning, this team will be small.

Besides Marcus, the place in this team will take a few key Instagram executives who are moving over: Instagram’s VP of Engineering, James Everingham, and Instagram’s VP of Product, Kevin Weil.

David Marcus was a president of PayPal which indicate that he has a lot of payment processing expertise and has been in charge of Messenger through a lot of significant changes over the years.

Marcus’s contribution to the development of Messenger is great. In fact, Facebook’s decision to split Messenger out of the core app so that users had to download the standalone app in order to receive messages on mobile happened during Marcus’s first month on the job.

Interesting choice!

But why? Will Facebook make its own David Marcus, VP of Messaging Products at Facebook?

Well, there are several answers and I’ll try to discover some of them.

First of all, the blockchain, which serves as the technical foundation for all cryptocurrencies like bitcoin, is all the rage. Facebook’s decision to pursue blockchain technology will most certainly add some validity to the crypto industry, which has been very chaotic. This doesn’t mean that Facebook will build its own cryptocurrency, but there are many ways that blockchain technology could be used that have nothing to do with cryptocurrencies, including encrypted data storage.

Marcus does have a personal interest in cryptocurrencies, though.

David Marcus, VP of Messaging Products at Facebook

He joined the board of cryptocurrency exchange Coinbase in December last year. Marcus posted on his Facebook profile some time ago: “After nearly four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge. I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch.

When I joined Messenger, under 300 million people were using it every month, since then we’ve added well over 1 billion people. We’ve crafted many new experiences from video chat to P2P payments, a capable camera and new features like games. We opened the platform and now over 200,000 developers are creating experiences and over 8 billion messages are sent between people and businesses every month. Looking forward, I’m excited about Messenger’s upcoming redesign I’ve shared an early look at this year’s F8. I think you’re going to love it!

It’s been an honor to lead the amazing Messenger team, their commitment to making Messenger the best it can be is unsurpassed. I will miss them but I know Messenger is in great hands with Stan Chudnovsky and they will continue to create amazing experiences for all the people who depend on it around the world. Messenger is now one of the most important apps in the world, and its future is unbelievably bright. The saying is that the journey is more important than the destination, and what a remarkable journey this was! Onward!’’

Weil, who joined Instagram from Twitter back in early 2016, is one of the new additions to the blockchain team. The other one is Instagram’s VP of Engineering, James Everingham.

It’s no surprise that Facebook wants to test the functionality of new technologies.
This is a good news.

But, could this also be bad news?

I can’t imagine they would launch an ICO considering they already have billions in the bank. Then this might also be a catalyst for other giants to do one, making many coins obsolete.
We will see.

For now, it is evident that Mark Zuckerberg and his team have something big on the mind.

24th June 2018