Category: Cryptocurrencies Traders Secrets

Cryptocurrencies Traders Secrets aims to give visitors a deeper insight into cryptocurrency trading news. A few words about cryptocurrency or crypto.
Cryptocurrency is a web-based medium of exchange that uses cryptographical functions to handle financial transactions. Cryptocurrencies use blockchain technology to realize decentralization, immutability, and transparency.
The essential feature of cryptocurrencies is that they are not controlled by any central authority. It has decentralized nature due to blockchain that makes them theoretically resistant to the traditional ways of government control.
Cryptocurrency markets are decentralized, also.

That means they are not backed by a central authority. Instead, they use a network of computers. Anyone can buy or sell them via exchanges and store in ‘wallets’.
The purpose of cryptocurrency trading news is to reveal all benefits of using cryptos to our visitors. But also its drawbacks. In numerous posts, our team is giving an explanation on how to use it, how not to use, what are the advantages as well as disadvantages. We warn how crypto can be used for illegal matters and how some “dark people” misuse it.

But Traders-Paradise’s main goal is to show to our readers how to trade cryptocurrencies like any other asset. Also, how to invest in them. We explain all strategies related to trading and investing, how to use them, what strategy to use, and when to do that, what are the best techniques and methods to trade and invest in cryptos.

Cryptocurrencies Traders Secrets is part of the website Traders-Paradise where you, our readers, can find all updated cryptocurrency trading news.

  • Investing or trading Bitcoin? What Is The Difference?

    Investing or trading Bitcoin? What Is The Difference?

    Investing or trading Bitcoin, this choice should depend on the knowledge of Bitcoin and the available property.

    2 min read


    The nature of Bitcoin is extremely volatile and the price can dramatically drop in the span of a few hours.
    Truly roller coaster!

    Because of that, the majority of traders give up after a few months or after the first market crash.

    Each time the Bitcoin bubble creates a hype that puts Bitcoin at the front pages of news, the media becomes more interested.

    Then the price keeps on rising and investors become millionaires. That’s until the bubble crashes and the circle starts all over again.

    That doesn’t mean you cannot get your hands on Bitcoin and own at least a bit of what is believed to be the future of currency. What you do have to understand is the difference between investing and trading Bitcoin.

    One of the greatest advantages of Bitcoin is its decentralized nature, which doesn’t require a  central authority or a middleman to be involved. Therefore, you can send money to anyone living around the world, eliminating banks. Most importantly,  you don’t have to pay extraordinary fees or wait days for the money to arrive at your bank account – it takes minutes.

    All the transactions that have ever happened are recorded in the so-called public ledger. The ledger is based on blockchain technology and allows anyone who’s a member of the Bitcoin network to access the records and see every user’s history.

    Thus, nobody can cheat, steal money or double-spend them.

    If there was anything suspicious happening, the entire network would be notified.

    Bitcoin is exciting and magnificent and unique due to the technology behind it and the idea of being free from governmental control.

    But before you decide to jump into investing or trading Bitcoin, there are few more things you have to know about its nature.

    Bitcoin isn’t a fiat currency, hence its price isn’t directly related to the economy or policies of a single country. It has a difficult history of ups and downs, many of them related to worldwide events.

    BTC will never disappoint when it comes to delivering exhilarating shivers down your spine.

    If you want to, you can spend all day long tracking different exchanges and trading.
    It is a roller coaster!!!

    Bitcoin is well-known for its rapid and frequent price movements, sometimes even throughout a day. For traders, it’s yet another exciting opportunity to gather quick profits.

    There is no official Bitcoin exchange, hence there is no official Bitcoin price. Bitcoin exchanges operate around the clock.

    Trading vs Investing Bitcoin

    Is It Better to invest or trade Bitcoin?

    This choice should depend on the knowledge of Bitcoin and the available property.

    Investing in Bitcoin can start from a small amount which can be increased with time and experience.
    It’s a long-term project, which might lead to accumulating a large amount of money.

    Trading should be reserved for those who know the Bitcoin nature in-depth and aren’t afraid of losing.
    The constant fluctuation of Bitcoin can be an exciting experience for any trader. On the other hand, it can scare away those who do not know how to deal with or handle it.

    In other words, the difference between investing and trading Bitcoin lays not only in the technicalities of it but also in somebody’s character and temperament.
    A lot of beginners are deceived with an idea of how much they can make from trading Bitcoin. It surely is a more dynamic environment and rates are changing quicker than in a traditional stock exchange, but that only indicates an even higher risk. The fluctuations in the value of a conventional currency can be measured in a fraction of a penny. Bitcoin prices, on the other hand, rise and fall dramatically throughout one day. 

    This isn’t advice, just notice to you who want to start trading or investing, doesn’t matter. You would never start with all of your capital. You would rather build the experience and understand the market properly.

    Investors can wait through the knockdowns and have the resources to postpone the bad impact.
    Traders, however, are often compared to professional gamblers – they have to act quickly and know when is the right time to leave the game.

    What else you have to know about trading and investing Bitcoin?

    You should never keep all your eggs in one basket.

    What does it mean? But don’t be mislead that the most secure option is to store your Bitcoins on some exchanges wallet.

    Why is that? If you’re thinking about trading, you also have a large amount of money to put on the market.
    Be cautious and invest in a secure and reliable wallet. An exchange can be closed and busted anytime, and so are your money.  It happened in Bitcoin’s early days. The catastrophic collapse resulted in losing over 800,000 bitcoins and customers were never able to receive their money back.

    Some see trading Bitcoin as a Wild West, without any regulations and legitimate backup. While others are sure that it is a manifesto of liberation. Something is well known, it’s a game of which nobody can predict the end result.

    Well, we hope that Bitcoin is gonna win! We are working on it!

    Listen to this guy.

    Risk Disclosure (read carefully!)


  • How to Quickly Make Losses on Crypto?

    How to Quickly Make Losses on Crypto?

    Make losses on crypto, it sounds so impossible. But life is not the fairy tale. 

    2 min read

    Yes, how to quickly make losses on crypto. Of course, I didn’t make a mistake in the title. I even didn’t mean to say “how to make a quick profit”. Although that’s precisely what attracts some people to cryptos.

    Because of the story of the people who bought bitcoins in the period from 2009 to 2012, and now they are wealthy, many of you can think that cryptocurrencies are a shortcut to opulence.

    You can earn quick, it is not impossible,  but this quick profit goes side by side with a big risk.

    Whoever loves quick earnings at high risk, should go betting or to casinos. It is much faster than earning on cryptocurrencies. 
    This post is for those who see the possibility of quick earnings in cryptocurrencies, and don’t see the risks. 

    The truth is: you can gain a suitable profit, but also you can quickly make losses on crypto.

    There is no profit with no risk

    Even in the world of cryptocurrencies. I’ll try to briefly introduce some of the biggest traps for insufficiently informed investors and traders who are looking for quick wages.

    Cloud mining

    You’ve probably heard that cryptocurrencies are generated through the “mining” process. You can invest a certain amount of money in hardware, this hardware is set to “miners” and money starts to come.

    Although many overlook the amount of work and some of the costs that exist there, it is still relatively difficult to find a miner to whom this investment is not profitable.

    Anyway, chances to quickly make losses in crypto are bigger here than anywhere. The equipment is more expensive and more complicated, crypto mining has become the business of big companies. There should be no illusion about that.

    There is another type of mining, which many have “harnessed”, known as Cloud Mining.

    It’s a much more elegant variety. You can rent someone’s hardware to mining for you, with a fee to the hardware owner.

    That’s it! Voila!!!

    However, there is one big problem: most of those who rent this hardware, don’t actually have it!

    Where is the catch?

    They pay old investors with money taken from new ones.

    Most of those who offer cloud mining are fraudsters. Personally, I would never invest in it, because there are a lot of possibilities to quickly make losses on crypto.  

    But if somebody wants, here are some things on which you have to pay attention:

    * If you buy hardware for mining, you need about a year to pay for equipment.

    Honestly, there are no guarantees that you will ever repay the investment. But whoever gives you guarantees that you can through cloud mining make more than 100% a year, you can be sure he is a fraudster. If an alleged cloud mining company is not recognized, for example, on blockchain.info/pools, it’s all fraud. There is a very small possibility to find it in the “unknown” category, but this option is really very small.


    Fake cryptos
    There are currencies which are presented as cryptocurrencies, and in fact, they are not. As something is not cryptocurrencies, it still doesn’t mean that it’s a scam, but you have to be very careful. When someone suggests you invest in a particular crypto, this is what you have to be aware, in order to avoid to make quickly losses on crypto: 
    If the income is not guaranteed by a company, but the individual who offers you this investment, then that individual is either a fraudster or unauthorized person.

    The reason is clear:

    There are no guaranteed earnings in cryptocurrencies, nor anywhere else!

    Also if the currency cannot be bought or sold on the free market, you should be very cautious.

    In this case, there is the opportunity that price is manipulated and keep at an unrealistically high level in order to make the investment cost-effective.

    Cryptocurrencies generally are open source, if they are not, you can be sure it’s fishing.

    Trading markets

    Whoever is considering trading on the stock exchange should have one thing in mind: there are always more losers than winners. That mean, you have to be better than most participants and then you can earn.

    All right, all the generals are great after the battle. Don’t listen the others, you have to find your own path.

    If you do not have experience with trading on the stock or cryptocurrencies markets or knowledge, there is the bigger chance you will be easy prey.

    That’s all I have to tell you at this moment. Let us know what do you think!

    Risk Disclosure (read carefully!)

  • Bitcoin price – is it going to stay that low?

    Bitcoin price – is it going to stay that low?

    1 min read

    Bitcoin price

    Bitcoin price may jump or drop. I don’t know. Who knows? Anyone who knows has to get up and say the answer loud and clear. Is Bitcoin going to stay that low? Gosh!

    There are millions of predictions about this, but they’re often predicated on fake analysis, tricky intuition and genuine nonsense. Right now there are thousands of analysts investigate data asking themselves that question via many other questions that might help them.

    Bitcoin price in July 2017 was $ 2500, the expected price for July 2018 should be in the range of $6000–15000, this means it won’t go below the last year price.

    Here are some causes of why it’s difficult to predict:

    * there’s practically no information on the demographics of Bitcoin buyers. They have a different stratum of experience or they are reacting emotionally to their money fluctuations.

    * Negative news around Bitcoin can investors spiteful, primarily if journalists and financial analysts quote disinformation as their motive for drawing a conclusion.

    But there’s a handful of reasons why it might go up. Keep in your mind any of these events can happen randomly: More investors could start accepting Bitcoin as payment, another cryptocurrency could overtake Bitcoin, a sharp price decrease for almost any amount, a sharp price increase for almost any amount.

    Bitcoin price can jump or drop

    Last week, Bitcoin slipped to its lowest level since November, under $6,000. Traders attributed that to CME futures contracts expiring and generally, clouded interest from new buyers. The world’s biggest and first cryptocurrency has struggled from that lack of enthusiasm, and prices have dropped, according to CoinDesk, 52 percent since January.

    You should read THIS too: Why you should not invest in bitcoin under any circumstances

    So, what is the prediction of how Bitcoin will go?

    It is always good to look into other appropriate factors, not only history and numbers, and ask the question on what is holding Bitcoin back at the moment.

    There are increasingly positive voices coming out in favor of Bitcoin. Question is will it actually increase in value significantly until the end of this year or whether it will remain around these levels. Other cryptocurrencies have been consistently rising in the past couple of weeks. That’s why many of the enthusiasts are actually predicting higher peaks as well as newer peaks for the cryptocurrencies.

    Does it mean that  Bitcoin price can be worth more than $100k in 2018?

    Well, Tim Draper predicted Bitcoin would be $250,000 by 2022. When asked during an April Bitcoin debate how the digital currency compared to his early investments in Tesla, Hotmail, and Skype, Draper said Bitcoin will be “bigger than all of those combined” and “bigger than the internet.”

    But, it looks this year will not be a particularly good year for Bitcoin holders. It’s value having fallen for $13,400 at the beginning of January. Just two weeks before that, it was worth more than $19,200.

    Probably, yes. That is the answer to the question will Bitcoin rise in July 2018. And the contrary answer to the question ”is it going to stay that low” is NO. Though it is hard to say by how much Bitcoin is going to boost.
    What do you think? Share with us your opinion.

    Risk Disclosure (read carefully!)

  • Cryptocurrency Addiction Is A Real Thing? No, s**t!

    Cryptocurrency Addiction Is A Real Thing? No, s**t!

    The experts recognize seven of the most common signs you might be a crypto-addict.
    If you recognize these symptoms, be careful but enjoy the trading.

    1 min read


    Cryptocurrency addiction exists in reality. Do you feel sometimes that you are holding your life all with one bobby pin? Till the moment you check Bitcoin’s price when you wake up in the morning?

    Yeah? I know that feeling.

    And the price of Bitcoin is the last thing you look up before you doze off at night?

    And it is difficult to pay attention to conversations unless the topic is blockchain?

    And you always keep a CoinMarketCap tab open in your browser?

    Well if you are such case, I don’t have good news for you: you might be suffering from a cryptocurrency addiction.
    You don’t believe? I was shocked!!!

     

    Bizarre new addiction!!!

    A group of Scotland-based behavioral therapists claims that you can take measures to curb your unhealthy habit of cryptocurrency trading. Good luck with that!

    Experts from rehab clinic Castle Craig Hospital (Scotland), recently expanded 

    their gambling addiction program to help people battle against obsession with trading digital currencies

    .

    The experts recognize seven of the most common signs you might be a crypto-addict.

    * You are spending a great deal of time on the trading in cryptocurrencies, checking prices so that other occupations such as work, exercise or socializing are on second or third place or not get done

    * You have debts and financial problems due to the losses incurred when gambling.

    * You are lying to friends and family about activities or problems ( for instance you are hiding the amount of time spent online trading).

    * Your mood swings, feelings of hopelessness and depression.

    * You feel anxiety and you have physical symptoms such as sweating and tremors.

    * You have unrealistic views such as being “lucky,” pursuing losses, in belief, it is your turn to win next time.

    * You are attempting to control the activity without any success.

    In a statement for thenextweb.com, the therapist, Chris Burn said: “The person trading may be unaware of these negative effects, especially if they are trading successfully and making profits. Major consequences such as bankruptcy, loss of reputation and self-respect can happen, sometimes with devastating speed.” 

    Everyone is prone to developing a crypto addiction

    This means that remarking the symptoms might not always be enough to get you on the right track. Usually, addicts have trouble acknowledging such signs in their own behavioral patterns. That’s true!

    According to this therapist, everyone is prone to developing a cryptocurrency addiction, even those trading for leisure. The problem is further exacerbated by liberal regulations and a low barrier of entry for traders.

    You know, it takes few minutes to open an account on exchange desks.

    “From our observations, people may begin trading in cryptocurrencies as a leisure activity, very part-time, but become hooked on the activity because of its addictive nature,” Burns explained “Unlike regular stock trading, cryptocurrency trading is poorly regulated, often poorly understood but exciting because of the big fluctuations in price that occur.”

    So, what I suggest you do? If you recognize these symptoms, be careful and enjoy the trading.
    What do you think? Is this possible? C’mon, tell us!

    Risk Disclosure (read carefully!)



  • Binary Options – Everything You Wanted To Know About, But You Hesitated To Ask

    Binary Options – Everything You Wanted To Know About, But You Hesitated To Ask

    2 min read

    Binary options are very risky. Nowadays, the investment market is very unpredictable. People simply don’t know where to invest. They are a lot insecure for a number of reasons: the unstable industry and the crisis in which currency is currently. What do most people want? They want to make money quickly and easily, and the real question is it at all possible? How many times have you heard that a neighbor’s son lost all his money in a casino or that your colleague from school sells a house because he is a gambling addict? What if I tell you that there is another way to make money, to provide money to you and your loved ones? I’m not talking about investment strategies where you need big start-up capital and where you need to wait for years to make a profit.

    Who would refuse the opportunity to make ”easy money”?

    Well, there is no such thing called ”easy money” but there is something we can call ”fast money”. If you believe in it and you have guts to take the risk.

    Many are willing to say that these are binary options and I would like to tell a few things about them to you.
    So, let’s go!

    First of all – What are BINARY OPTIONS?

    About 10 years ago, the Chicago Board Options Exchange allowed private traders to use a wide range of instruments. Initially, binary options were only available to large US and European stock market traders. In the early days, the initial capital was very large. In economic terms, binary options are a trading platform where the trader or his authorized representative makes predictions about the direction of the value of different assets.

    Binary options, which are also known as digital options, have recently become one of the most popular trading tools. Each option is associated with a certain margin, i.e. stock, index, currency pair, or price of the primary product. The profit or loss of each option is determined by the fluctuations in the prices of the product or currency it is linked to.

    Binary options have a predetermined, let me say, lifetime, which can be: an hour, 15 minutes, or only 60 seconds from the time of purchase. The difference in the price of goods between the time of entry and exit will determine whether the trade is successful or not.

    Binary options profit

    Binary options can offer some of the highest returns on trade among existing financial instruments. High profitability means that even one successful trade can help you significantly increase your initial investment. This also helps protect your capital. The greater the profitability of each individual trade – the greater the odds of making a profit in a series of trade.

    But, you should always bear in your mind that trade profitability is proportional to the level of risk.

    LEARN HOW TO TRADE

    How to learn to trade binary options? This question is posed by all new traders. To understand how to successfully trade binary options, make money on them regularly and feel the satisfaction of working on financial markets, you will need some time and effort.

    To start making money on binary options, you need to find a broker.

    Our advice is: Read on this topic a lot, watch the snapshots, practice on a demo account.

    You can find all necessary information on how to trade binary options on most trading platforms. Select value, expiration time, the direction of the movement and go!
    Binary options are questionable.
    Start with the simplest binary option “above / below“, with the most popular values – EUR / USD, oil, shares of Apple or Facebook. In fact, they are Up/Down option which can go by a few different names: High/Low, Above/Below, and Over/Under. It is the simplest and most common type of binary option.

    If you choose a good broker, the support team will always help you 24/7. A good broker provides suitable methods for downloading money to allow you to quickly run a download request. A free demo account and training for beginners can help newcomers to learn quickly how to make money.

    Remember our advice. Before you start trading, carefully examine and validate the theory in practice. You can do this only with the demo account.

    It looks easy. But you must be very, very careful.

    The legitimacy of binary options

    First of all, the legitimacy of the operation is questionable, and it may operate in a slack regulatory jurisdiction. You don’t want it. Many trading sites are based in exotic island locations, so you have little legal recourse.
    Second, even if it is legit and works in a well-regulated environment the chances to let acquiring fabulous wealth, are slim. Chances of you losing your money are enormous. These risks are spelled out in small print on the site, but they are intentionally understated.

    Because of what I’m going to tell you now, I expect calls and comments: Traders Paradise, you can not write about us like that.

    But I do not care. I have to express my opinion based on my experience with them.
    binary options
    I’m warning you about the unregistered Binary Options companies with their sleazy sales pitches that offer a 100% win rate system.
    True is that some brokers may offer legit ways to trade Binary Options but be vigilant. On the internet, you can find plenty of testimonies of cheated people.

    Speaking of the internet, binary options providers are especially dangerous because they understand how information spreads on the internet. For example, Googling phrases such as “are binary options a scam?” frequently directs users to websites operated by binary options companies.

    I tried it! It’s true! They are doing that.

    And remember, trading is at your own risk.

    What do you think about a binary option? Share with us!

    Read also why Mutual funds are an opportunity to make wealth

    Risk Disclosure (read carefully!)

  • Can Focused Groups Solve Loss Problems?

    Can Focused Groups Solve Loss Problems?

    Can Focused Groups Solve Loss Problems?
    How do focused groups work? What are the advantages?

    By Guy Avtalyon

    Yes, we have to discuss focused groups.

    You do not need a time machine to profit from crypto It’s true. If you invested in Bitcoin 7 years ago, 5 years ago or even 2 years ago – you would become a millionaire.

    But, it’s still can happen.

    In fact, people are still making good profits from it. Some even left their day jobs because of it I DO NOT say you need or will leave your day job

    Everyone needs a secure and safe income, and we all know there are many risks in the fortune markets, the stock markets, and even the crypto markets.

    But the time is now.

    Let me share a scenario I believe will happen:

    First of all, you should know (if you don’t by now) that crypto wallets are public for everyone to see how much you have inside, BUT it’s encrypted that way no one can know whom this wallet belongs to…

    So, we can all see the largest bitcoin wallets there is:

    https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

    Two things interest us most:

    1. There are 1,292(!!) wallets with over 10MIL of US Dollar worth in them
    2. And the richest wallet has $1,839,622,745 USD of worth in it (Almost 2 Billion(!!!!!) Dollar) for lucky address number 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

    Why do we care about all these?

    Again, for 2 reasons:

    1. It’s clear there is A LOT of money into it
    2. By the fact we are a lot smaller than them, we can use their largeness to our advantage!
    What do I mean?

    Say, a big shark, someone with a wallet of 5 million dollar wants to start making these profits for real and monetize it into dollars. That means – sell it at market price for any demand.

    He can do it for only until some kind of limit, once he tries to get rid of a lot, it will definitely impact the price Bitcoin is trading. So, the largest your wallet is – the more difficult it will be for you to turn it into more usable money.

    In fact, the fact those wallets still have those amounts of money in them means 2 things:

    1. They lost the password, which means those bitcoins are lost forever
    2. They turn it into money slowly, slowly so it won’t impact the trading price

    What we aim to do, besides many more things we do, is to follow the leader
    It’s a common strategy in the Game Theory industry.

    What it basically means, is that once you’re not the leader (in this case, for sure) – you should look carefully at what is the leader doing and copy it as fast as you can.

    You can learn more about it here:
    https://en.wikipedia.org/wiki/Stackelberg_competition

    So how can you profit off it?

    It’s simple.

    You got a few options:

    1. Buy and hold for at least two years (most risky)
    2. Trade it. Just trading Bitcoin most of the times, using profit and loss boundaries, can make you profit with day trading (sometimes can take up to few days)
    3. Join some focused groups who are focused on the wealth of the entire group

    How do the focused groups work?

    Most of the times it’s based on 3 things:

    1. The knowledge of the combined group.

    It is well known that the crowd’s knowledge is better than any individual. Even the smartest alive is dumber than a group of 100 ignorance.

    So with this kind of social empowered brain, where different people from different countries with different news they read in different time meet – the predictions can be way better than an individual one.

    1. Educating

    It’s true, it’s never 100% of the people in the group (focused groups are no exception) take part in learning and educating themselves, and stay a silent part of the group that only wants to profit.

    Most of the people aren’t like that – they like to learn more, investigate have a healthy curiosity and, well, let’s face it:

    When it’s your money at risk – you should try to do ANYTHING you can to feel more secure.

    1. Using high technologies to measure and predict trends
    This is the advantage.

    Even when you have the smartest people in the world in your group, there is only so much a human being can do.

    For an example of high technologies that can potentially be the difference between ‘profit’ and ‘lose’ can be are:

    1. Following the biggest wallets – this means, if the technology detects unusual movements in the bigger wallets, it can indicate that they know something other people yet know and use it to their advantage.
    2. Following trends and market movements
    3. Comparing prices between many cryptocurrencies to make profits of arbitrage (the difference between the same crypto coin’s prices in different markets it’s traded on) etc.

    In fact, there are many more ways technology could help us gain advantages in the market…

    Bitcoin Focus Group is one of the few that combine all of them together. It’s mostly because they already have experience and active users.

    Every similar group can be successful. It only needs to have active users inside and gain experience. Experience lets improving all systems.

    Another thing that we must never forget – the focused groups’ interest is that everyone will gain profits. If some lose, the focused groups’ reputation drops drastically.

    I feel I need to warn again – there is no easy money (you will read about a lot in this blog) – We just try to outsmart some of the people.

    That’s all!

    Take into consideration, most of the focused groups have time and seat limit, so be sure to sign up. Do not pay in advance, always ask for a free trial if possible.

    Bitcoin Focus Group is recommended – Hurry up and check if you’re qualified.

  • Alert System Activate! Danger In The Air?

    Alert System Activate! Danger In The Air?

    Alert System Activate! Danger In The Air?

    When is danger in the air Bitcoin alert system will be activated.

    What? You didn’t know that Bitcoin has a warning system? That’s because it’s a private key the cryptocurrency’s creator entrusted to several bitcoin developers that activate the protocol’s so-called “alert system,” once used to flash a text warning to those running the software in case something happened that could impact the security of their funds.

    About a year ago it was like this:

    On January 19, 2017:

    The Final alert has been broadcast. This final alert essentially disables the alert system by overriding all alerts, preventing other alerts from being broadcast, and displays the static message “Alert Key Compromised”. The Alert Key will be published in the coming months, was only known info.

    After that, on March 8, 2017:

    Bitcoin Core 0.14 released with hard-coded final alert. The Alert System was disabled and deprecated in Bitcoin Core 0.12.1 and removed in 0.13.0. The Alert System was retired with a maximum sequence final alert which causes any nodes supporting the Alert System to display a static hard-coded “Alert Key Compromised” message which also prevents any other alerts from overriding it. This final alert is hard-coded into this release so that all old nodes receive the final alert.

    On May 1, 2017:

    Postpone release date of Alert key. Older clients could contain Alert handling code which is exploitable using the alert key, therefore the public release of the key has been temporarily postponed until considered safe.

    A few days ago, Bitcoin Core contributor Bryan Bishop twitted: ‘‘It’s time to reveal the bitcoin alert keys.”

    Who is in command of the alert system?

    This tweet is followed by a string of tweets without fully revealing it but quite cryptographically proving he’s in possession of the secret key.

    “It’s time. I’m thinking about releasing the private key early July at Building on Bitcoin, though it’s not finalized yet.” Bishop told. But he isn’t sure about the exact date of adding:

    Anyone with the alert key can send alerts to the Bitcoin network that would show up in GUI. Since this is centralization, Core developers are working on removing this power from themselves, to ensure BTC stays decentralized.

    What is the use of the alert system? Can be used to span?

    After May 1, 2017, no developer with possession of this secret code took an action. Until now.

    On the other hand, Bishop is giving to these projects and developers one last chance by sending messages on Twitter and through other channels.

    This kind of pressure which is coming from Bishop shows that Bishop and others are worried about attacks on their reputation. For instance, if the private key was compromised and used to sign a message with bad intentions, it could be blamed on one of the Bitcoin Core developers who’s known to have the key.

    “It would be better if the key was released,” said Bishop.

    Where is the catch? Nobody knows the full list of people that have access to the private key. But the secrecy is a liability because some of the people who have the key are known in public.

    Revealing the key is potentially dangerous for any cryptocurrencies.  

    If they used an older version of bitcoin’s code to create their cryptocurrency, and they did that, and they have not disabled the alert key mechanism in their own code, the other altcoins are in danger.

    “If the copycats have not disabled the alert system, nor changed the alert key [public key], and if they have not sent what’s known as a final alert message, then once the [bitcoin] keys are released, anyone will be able to send alerts on those [other] networks,” Bishop told CoinDesk.

  • Bitcoin use: The New Era Has Started!

    Bitcoin use: The New Era Has Started!

    Bitcoin use: The New Era Has Started!
    Who would use the fiat anymore

    By Guy Avtalyon

    I would like to tell you a few words about our global educational system. All over the world! They never teach us about even basic finance and who can expect now that people can understand and adopt something complex such is Bitcoin or any other crypto.

    What teachers taught us?

    My teachers taught me how interest was compounded.

    The reasons may not be so clear, but if banking history and monetary theory were taught in schools, no one would use the fiat system. Is so obvious. On the other hand, Bitcoin is a lot simpler than the fiat system, but people are legally compelled to adopt fiat.

    They are forced to! And it is globally. The situation is even worse than that. The people teaching youngsters these days have grown up under Keynesian economic theory  (also called Keynesianism). So, they strongly believe that money is defined as money only if you can touch it, smell it, or hear the sound of counting money.

    Keynesians cover different macroeconomic theories. They believe that in the short run, especially during recessions aggregated demand has a powerful influence on economics. Behind Keynesian theory stand the idea the governments should increase demand to boost growth. These economists believe buyers’ demand is the principal driving force in an economy. This theory promotes the expansionary fiscal policy. The theory strongly depends on government spending on infrastructure, unemployment compensations, and education. Well, the drawback of this theory is that overdoing Keynesian policies boosts inflation.

    It was very difficult for me a few years after Bitcoin came into my view to free my mind from its previous training.

    Ok, some people adopted new technology like ones who buy Android phones or some who run Linux as desktop. Some people are spoon-fed technology, like ones with iPhone or OSX.

    Anyway, I don’t expect people to understand.

    Bitcoin use

    Adoption of something doesn’t require understanding. We all use the internet in every segment of our lives but we can’t point our finger and say “Here! This is the internet!”

    If you ask someone how they understand that the universe is infinite and how they understand the meaning of infinite, you would be surprised by the answers.

    After all, I do not understand how the dishwasher works, but I still use it. Others can’t understand mobile phones or computers.

    But they are using that!

     

    So, use cryptos without fears.

    That’s why there is no excuse when I hear from someone that he does not understand how cryptos work. And how hard is to trade.

    OK, it takes intelligence, but no more than any traditional financial equity trade.

    Yeah, it takes basic finance knowledge to understand and invest but no further than average.

    People should know, if everyone learned about finances they would work and invest and become self-funded within 7 or 8 years even making minimum wage. C’mon, people, wake up!

    But I want to tell you.

    Bitcoin is making the biggest revolution in the finance industry in the last 200 years. Leading all cryptocurrencies, Bitcoin is at the forefront of the bleeding edge of blockchain innovation.

    I think it is necessary to stay patient and witness history first hand.

    Nothing can stop that!

  • Do You Need A Broker To Trade Crypto?

    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.