Tag: bitcoin

All bitcoin related articles are found here. Educative, informative and written clearly.

  • The Best Time to Add Crypto Asset to Your Portfolio – BTC breaks $10,000

    The Best Time to Add Crypto Asset to Your Portfolio – BTC breaks $10,000

    The best time to add crypto in your portfolio
    A digital currency similar to bitcoin called crypto-asset could be a good pick to trade

    By Guy Avtalyon

    If you missed getting bitcoin, this is the best time to consider and add this crypto asset to your portfolio. This crypto asset has a  powerful recovery in 2019: Bitcoin.  We can see on the BTC charts and from the market, bitcoin is now one of the best assets since it recovered at $10,000 again in 2019. It happened last month and it looks like it will stay there or climb more. 

    Bitcoin grows approx 163% this year. Most importantly, this time the basics are different. 

    Can you see that frenetic fight among banks, technology, and financial companies? Everyone wants to develop the blockchain. 

    We already wrote about  Facebook, but there are more. Google, Square, Goldman Sacha are also the companies that invested in projects to provide a mass adoption of blockchain.

    Bitcoin’s new rally could be more powerful than ever. How is that possible? The crypto traders and investors already know what creating of own crypto may cause on the market. Twitter is on its way to include bitcoin and other cryptos into its payment, Square. It is the question of the moment. We will not wait so long to see that.

    Facebook announced its plans to introduce its own cryptocurrency, Libra. 

    Fidelity already offers to its traders to trade BTC. Amazon is very close to offering the same possibility but at the same time, they are developing their own crypt asset.

    Moreover, crypto asset-backed ETFs are preparing to enter the market. That will be a really new investment class.

    What is crypto-asset?

    It is a digital currency similar to bitcoin and based on blockchain technology. How things look now, it will enter a bull market. This new asset is getting strong popularity!

    This hype can be compared with the time of Internet adoption.

    In the beginning, it was treated as a fancy freak. Do you remember that time? Okay, someone can, but someone hadn’t been born in that time. The point is that the introduction of the Internet gave a chance to many companies to be created. For example, Google or Amazon, and many others came later. The mentioned companies are among the top market listed firms.

    And now, we are witnesses of the creation of the new crypto-assets based on blockchain technology.

    Maybe this is a chance for you to add crypto assets in your investment portfolio. Yes, the crypto market is volatile. But it is a chance for traders to make a profit.

    Bitcoin is a volatile investment, that the truth. From $20,000 in December 2017, it dropped at a bit above $3,500 next year. It was almost a $17,000 decrease. But this year Bitcoin is doing well. It recorded (and still do) steady climbing in value. Now it is traded around $10,000. Who didn’t sell bitcoin at $3,700 can make a nice profit now.

    How can you as ordinary investors get in on this the most profitable odds? How can you enter the crypto asset market?

    If this is an unknown field for you, you should find some guidance, you have to find some trusted expert to guide you through the market volatility to the possibilities.

    Why is this so important?

    Let’s say, you don’t have a lot of knowledge about crypto assets. So, how could you profit from them without that? You can find more than 2,000 assets in the market whose total value is about $250 billion.

    Which crypto asset to trade? How to pick?

    Wild value fluctuations happen and you may stay confused where to invest. Don’t worry, everything will be more clear very soon.

    The best part is that even the investors with most suspicious can see now that crypto is here to stay. It will not go anywhere or totally disappear. The technology behind digital assets is even more firm.

    Traders-Paradise wants to give a few examples of the crypto assets which you should buy.

    On the top is Bitcoin. BTC should be a central asset in your portfolio. If you still don’t hold it, it is the time to include this asset to generate really high profits because the prices will grow. So, the time to buy is NOW. 

    You have to pick the most future proof coin.  Some will tell you it is Binance Coin, issued by Binance exchange.  The price of BNB tokens will be a good test. Stay informed about it. 

    Some others will suggest it is NEO. It will finally expand to add other cryptos and fiat. It can be one of the most interesting and hopeful purchases. Or Stellar! The guarantee plus is a connection to IBM.  Further, Ethereum. You will never go wrong with Ethereum. And also, there are Litecoin, Dash, Ripple, Monero, Bitcoin cash, etc.

    Bottom line

    If they sound like investments you would like to have in your portfolio, what are you waiting for? 

    Never mind.

    You have to know that some of the biggest world companies are establishing blockchain. But the most important is that the number of companies is increasing. The power of crypto assets to make money is unquestionable. 

    Take your place on time.

     

  • Bitcoin price, Trump or How Do You Understand All of This

    Bitcoin price, Trump or How Do You Understand All of This

    3 min read

    Bitcoin price

    Bitcoin has been growing of the new week after a drowsy weekend. The Chairman of the Federal Reserve revealed the chance of Bitcoin becoming the globally dominant currency. Hence, the current reserve assets could be worthless, admitted Fed.

    Let’s see first how Bitcoin performed in the past days. The Bitcoin price showed bullish signs this past week. But why now seems all of that real energy has vanished once again. What can we expect in the following days?

    Take the quiz at the end!!!

    Bitcoin made a drastic turnaround from where it was six months ago. At that time the prices pined around $3,500. But enthusiasm over broader mainstream approval has increased the hum about cryptocurrencies. The result was: the prices have the flight.

    John McAfee made a bet on July 17th, 2017: One single Bitcoin would be worth $ 500,000.00 in three years. Later he made some corrections and foretold $ 1 million by the end of 2020.

    Is that prediction really reasonable?

    Bitcoin price is about $11,300. To gain $1 million by the end of 2020, BTC should have a permanent-growth rate of almost $ 0,5 per day starting from the price level $2, 250 how much it was in 2017. on McAfee’s date of prediction.

    Yes, Bitcoin price so often changes the value so the 0,5% doesn’t sound too much. The charm of exponential increase.

    Bitcoin is limited. There is 21 Million BTC. Period. You see, we have more millionaires on this planet. There are not enough Bitcoins for each of them.

    The principle of how Bitcoin rise is simple.

    The more people are buying it, the price is higher.

    The market capitalization of bitcoin is still small. Of course, if we make a comparison to the stock market or gold for example.

    There is no need to buy one Bitcoin as a whole. You can buy a part of a bitcoin, so-called bits. And what will happen? The more people are buying, the price will grow more.

    There is no need to buy one Bitcoin as a whole.

    You can buy a part of a bitcoin, so-called bits. And what will happen? The more people are buying, the price will grow more. Moreover,  the popular fiat banking system is too complicated and you will find that bitcoin is a lot more practical. The price will jump again.

    Bitcoin against the politicians

    U.S. President Donald Trump on Thursday said he’s “not a fan” of cryptocurrencies. Moreover, he recommended that Facebook may need a banking license if the company wants to launch Libra. Sic!

    May any president have an influence on crypto?

    Well, Bitcoin doesn’t care about their opinions.

    Anyway, Mr. Trump tweeted:

    The bitcoin price rose after Trump said he is not a fan of it.

    Take the quiz at the end of the post!!!

    … and about Facebook’s Libra

    In the past 24 hours, the price of Bitcoin rose 7,9%.

    The other cryptocurrencies recorded even higher increases. Ethereum rose nearly 8% and Monero more than 13%.

    And BTC against the dollar marked changes that should cause the upsets. According to CoinDesk: it touched an unusual of $12,033.74 and a low of $11,142.79. Who won’t be worried?

    Bitcoin did not respect Trump’s anti-crypto comments.

    We saw the last trading! After Trump’s tweets, the BTC price was higher for 1% in one day, the price was $11,447.

    Even more, crypto doesn’t care about the Fed’s opinion. 

    Federal Reserve Chair Jerome Powell talked largely about Facebook’s Libra. 

    Powell accented that before proceeding, Facebook needs to address “serious concerns” in regards to “privacy, money laundering, consumer protection, and financial stability.”

    Same old words!

    The bottom line

    What we can say about the future of Bitcoin price is that there are some chances to drop below $11,000. The crypto market is well-known as volatile. But it can rise to $16,000 also to the end of July.

    This old guy is smarter than we think and no one should underestimate a possibility to surprise us. Moreover, many traders expect exactly that. The price to go up.

     

     

  • Christine Lagarde as an EBC head: Good or bad for cryptocurrencies future?

    Christine Lagarde as an EBC head: Good or bad for cryptocurrencies future?

    2 min read

    Christine Lagarde

    Christine Lagarde, a new ECB head is remarkably pro-crypto. 

    Investors and advocates of Bitcoin and the crypto markets have long held that the zenith of adoption the crypto would come when authorities and central banks started becoming friendly towards the new technologies.

    The new head of the European Central Bank (ECB)  Christine Lagarde is pro-crypto. Can it be good or bad for cryptocurrencies?

    Previously, she has shown a huge interest in crypto and how the new tech can help develop tomorrow’s overall economy.

    Will this help to promote acceptance of cryptocurrencies?

    Christine Lagarde has promoted for state-backed digital currencies.

    She said it could improve the capability of such state’s economy.

    “I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy,” she told at the Singapore Fintech Festival Nov. 14.

    If done correctly, central bank-issued digital currencies could “could satisfy public policy goals,” she noticed, specifically “financial inclusion,” “security and consumer protection,” and “privacy in payments.”

    During the speech in Singapore, Lagarde meantime persisted on the “downsides” of CBDCs, too

    “I would also like to highlight the risks of stifling innovation — the last thing you want. My main point will be that we should face these risks creatively.”

    We must be honest, the new ECB boss is more open to centralized crypto selections than to decentralized ones, like Bitcoin. She has supported already for state-backed cryptocurrencies and tokens like XRP and JPM coin. Maybe, she just needs more encouragement. We will see. It isn’t possible for any traditional bank to support the crypto, but to embrace its existence and allow using in transactions would be very useful, both for the bankers and crypto-owners.

    Lagarde supports

    Last year, in February, Lagarde in an interview for CNNMoney said that “the trend showed a “herd mentality” of those looking for high yield products as well as an element of speculation.”

    Lagarde continued that this trend was also fired by “dark activity.” That was explained by the potential for cryptocurrencies to be “used for money laundering and other illegal online activities due to their anonymous nature.”

    We can’t argue with this opinion because it is true. But, also, the regulation would be helpful. The difficult part, someone can think, is how to provide for crypto to remain anonymous and regulated. Well, it isn’t too hard. The hard part is how to avoid dark activity. Fiat showed less capability.

    Lagarde has said that Bitcoin and other cryptocurrencies could develop financial markets. She especially pointed to the speed and security of transactions. 

    We are sure that Lagarde’s main interest will not be the adoption of cryptocurrencies. She will have some bigger difficulties in the EU monetary system and economy. But, also, we have to notice that Lagarde is opened toward new technologies such as blockchain and it is very good. It can be promising for the crypto in the future. Christine Lagarde on the head of the ECB can have a very positive influence on the crypto industry and market in whole. 

    For now, for those of us who truly believe that the future for cryptos is coming, it is good news that Christine Lagarde’s opinions about Bitcoin are positive. 

  • Bitcoin is ready for the next big move

    Bitcoin is ready for the next big move

    3 min read

    Buying Bitcoin with bank account

    The Bitcoin price is $7.979, at the moment of writing this post. That is lower for 0,593842%  than the opening price this day.

    The furious rise in Bitcoin price in the past few weeks was exciting for the majority of the crypto world. But at the same time confusing also.

    Bitcoin is ready for the next big move

    For many of them, Bitcoin awakes memories on its fantastic heights at the end of 2017 when Bitcoin hit its record high of $19,783.21 on December 17.

    This new Bitcoin rally brings new peaks level to many companies. For example, several crypto-tied penny stocks recorded new peaks too.

    For example, the shares of MGT Capital Investments Inc. rose by 15% on Tuesday 9, May. This company is ranked as one of the biggest U.S. based Bitcoin miners.

    On Tuesday the company stated that it is thinking to give its cryptocurrency mining sector extra chance. The statement came after Bitcoin’s price increased expanded the mining profitability.

    Bitcoin mining, is it profitable 2

    This company had its highest market cap in December 2017 when it reached $350 million.

    That was in any sense the golden era for crypto.

    Almost at the same time, one UK company added the word ‘blockchain’ in its name rose its shares for nearly 400%.

    With the hope that such time is coming, traders and investors gave a chance to other similar companies such as Grayscale Bitcoin Trust BTC or Riot Blockchain Inc.

    The price of their shares rose in the past few weeks.

    The Bitcoin price is likely to go far up from $8,000 and it will come very fast.

    Will this word become another buzzword?

    The word that can increase importance and market value? That will be interesting to see.

    Anyway, Bitcoin increased by 60% in only two weeks.

    Nevertheless, many investors are not convinced that this rally has both legs. This price climb seems to fast for them.

    On the other side of the expert’s opinion are the other group of investors. Bulls! They insist that BTC has already reached its bottom price and all we can expect is this ‘çrypto-king’ is going to rise.

    Bitcoin touched the bottom when it fell below $6,000. The crypto expert Dave the Wave called it the “ideal buying zone”.

    However, traders were panicked and we saw a violent selloff. For smart people, it was time to buy.

    Previously, Bitcoin was in that buy zone for two years. It was 2014 and 2015, and almost one year between 2012 – 2013.

    The penny-stock companies recognized an open space to conquer.

    On the other side, the rumors about the possibility the biggest companies to adopt crypto fell in the water after the Consensus 2019 conference.

    Loving eBay formally denied such news.

    But Facebook hired two ex-Coinbase experts. At least one of them is connected with Facebook’s blockchain venture.

    Jeff Cartwright moved from Coinbase in March after five years at the cryptocurrency exchange. According to Cartwright’s LinkedIn profile, he entered Facebook this month. He will serve as a policy and compliance manager.

    It isn’t a secret anymore that Facebook has plans about blockchain and cryptocurrency. The details are secret, of course. As the secret is the true role of Cartwright because Facebook spokesperson Elka Looks refused to comment ” on personnel’.

    And, however, there is the third part – the media.

    Just to illustrate, for example, CNBC removed Bitcoin widget last month. But now, the situation is totally twisted. They have almost in every single show a segment about Bitcoin. Weird!

    And Microsoft uses Bitcoin, as we heard.

    Okay, Bitcoin owners use Microsoft, right?

    So, on Monday 14, May, the company revealed a project that, would give you the possibility to control your own credentials, autonomous of all companies. The new project is based on the technology that supports Bitcoin, blockchain.

    That will be interesting to see, of course, if you like to take such responsibility.

    Digital identity is the most exciting dream for every blockchain fans. The idea behind is that we all could have absolute, faultless access to all kinds of apps by creating mobile credentials. For now, the keys are in the hands of Facebook or Microsoft.

    Enthusiasts support this idea because it can be a blessing for privacy. No one could track your activity on the internet. And that is the core of blockchain and Bitcoin as well.

    Proponents also say it would help to stop hackers. Honestly, it would be harder for hackers to approach users data because all of them would be stored in one place or in a decentralized digital configuration.

    But we are still a far away from that.

    Until then, keep your eyes on the growth of Bitcoin.

    The future is interesting and promising.

     risk disclosure

  • Bitcoin is ready for further increases

    Bitcoin is ready for further increases

    2 min read

    Twitter CEO Jack Dorsey thinks Bitcoin will be the Currency of the Internet
    The last month was very good for the crypto markets.

    Bitcoin showed the ability to climb into the $5,000 area. There was no important selling pressure and that fact can encourage traders that have to expect BTC to see further gains in the near-future.

    Just make comparison with Bitcoin’s last month close with the one seen in 2015, actually in October 2015. That was succeeded by a bull run.

    This question was opened recently.  A leading cryptocurrency trader revealed that eerie lines are shown today, the similar to 2014/2015 during the bear season.

    Bitcoin approaches $5,400.

    Today, 2 May,  Bitcoin is trading under 1% at its prevailing price of $5,375.

    But take a look at the time frame of one week.

    Bitcoin has grown from its lows of $5,100.

    And after really disturbing news.

    What happened?

    New York regulators shook the crypto world with the declaration that  BitFinex, one of the leading crypto exchanges, had cheated investors.

    The regulators claimed that Bitfinex employed its own “dollar-backed” stable coin, Tether, to mop $850 million in missing funds and put it under the carpet.

    The news like this one caused great drops in Bitcoin’s value. But today, this crypto shows differently attitude.

    After the news was published and widespread, BTC dropped a poor 10%. Moreover, it proceeds to escalate back towards its highs of over $5,600.

    Besides, Bitcoin posted a green monthly candle. For many analysts it is bullish.

    For example, DonAlt, a cryptocurrency analyst, tweeted about BTC’s monthly close.

    Bitcoin is ready for further increases

    And there were more very interesting events about Bitcoin in the past weeks.

    For example, TD Ameritrade allowed BTC trading, also, eTrade added BTC and ETH. Oh, yes, Samsung is going to create its own token. And maybe the most important, the French government decided the banks have to support crypto.

    So, the similarities between Bitcoin’s April of 2019 close and its October of 2015 close, are notably similar.

    So, the conclusion can be that after April’s close will be followed by a massive bull run. But it would require a massive entrance of the money. Are we ready for that?

    Only in that way, BTC’s price would hit $330k in the next few years said the analysts.

    Bitcoin continues in an uptrend. So it is likely to rise towards the $5,500 level in the coming sessions, very soon.

    According to newsbtc.com, in the past three sessions, there was a steady rise above $5,280 in bitcoin price against the US Dollar.

    The BTC/USD pair reached traction above the $5,300 resistance.

    It is above the 100 hourly moving average. The price went up over the $5,340 level and traded at $5,359.

    A break above the $5,360 level may open the ways for a potentially the $5,400 level. The next main resistance is near the $5,450 level. That is a point where sellers may arrive. The prevailing price action is positive and, therefore it could be more gains above $5,360.

    If a downside change appears, the bulls have to protect $5,280 or $5,250.

    Well, it is almost impossible that the next bull run can be the same as in 2015.

    But an entrance of money from corporations may be sufficient to feed the new parabolic upwards move.

    That is what many investors are expecting.

    BTC is at above $5,400 this morning. The consolidation continues.

    Don’t waste your money!

    risk disclosure

  • Monetizing Bitcoin – Full “How to” tutorial

    Monetizing Bitcoin – Full “How to” tutorial

    earn profit by trading in bitcoin
       

     Guy Avtalyon, data analyst

     

        * What is bitcoin and why does it keep rising
    * The technology behind bitcoin and its uses
    *  What is the difference between “trading” in bitcoin and “investing” in bitcoin time and strategies

    In this article I’m going to teach you how to trade in bitcoin and ethereum.

    • How to make REAL profits

    Real profit is money in your pocket, not on some address on some internet page

    • How to avoid massive drops in prices which will end up with losing your money?

    And how to build your own trading budget Using a unique method I invented and improved over the years (The BBB Method).

    You will also see how I almost DOUBLED my virtual money during the recordings for this tutorial.

    I want to start this tutorial with some warnings and risk disclosure:

    IT’S NOT EASY MONEY. THERE IS NO SUCH THING AS EASY MONEY!

    But as you are about to see…

    There’s a current opportunity and we can take advantage of it on time?

    This is how trading in Bitcoin with a good strategy and risk management should look like:

    bitcoin trading strategy

    This tutorial is about to show you how to:

    • Trade in Bitcoin successfully
    • Withdraw and save your profits for a better night’s sleep
    • Come up with a smart Trading Strategy that can both profit & save us from massive drops and strong changes in the price

    Sounds imaginary, right? Like I’m making it up. It’s not.

    AND YOU WILL SEE EVERYTHING RIGHT NOW!

    This is an example of a position where I buy bitcoin through my broker. I don’t own real bitcoin, I trade on its price while other people hold it:

    The position of buying Bitcoin

    After 2 hours = 1700 richer. I can live with that.

    I entered a ‘long position’ (means I think the price will rise) and just two hours later I’m 1,700 EUR richer, but it’s only paper money for now, NOT realized… Not in our pocket yet. Nice to look at but don’t be fooled – Our money has to be realized (changed back from BTC to Euro or Dollar) so we can make REAL profits.

    ENTERING POSITION

    Take a look at the entering position screen:
    (explanation below)

    trading position bitcoin
    Here’s a full explanation of the image above:

    pending order
    Market execution means the position will start immediately at any given market price (the price it’s being traded for at this moment). We use this option most of the time. A pending order is when we want the system to automatically execute a position once it reaches a specific price we entered earlier. We use it only to control massive price drops.

    For example, we’ll see later how this strategy took care of a 45% drop in Bitcoin’s price (!) that happened in the span of just two hours. (Date – 22.12.2017).

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 6
    Amount – you can use as much as you want from 0.01 to 10, depending on your margin money, which is the amount of funds the broker lets you trade on. I chose the maximum at this point.
    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 9

    Take profit and stop loss – Always turn them on by clicking on the “switch on” button (yellow/orange arrow)

    How to use those extremely important features will be explained further on.

    Monetizing Bitcoin – Now the math:

    There is, for now, and at this moment, a more than 85% chance for the price to rise at any given point (Classic bubble behavior, if you ask me).

    Although the price will rise before it falls, we’ll see later that drops WILL happen, and we need to know that for a FACT!
    For that reason, our strategy is based on three layers, and our positions on every layer will be calculated based on how much our ‘Risk Management Budget’ allows us. (How to calculate the RMB – later on).

    First layer:

    Description: Fast, surer, and smaller profits.

    Typically characterized by brief periods of time. Our goal is to realize as much money as we can, and this layer is designed especially for that.

    Second layer:

    Description: Higher profits with a bit more risk. As the chances of Bitcoin to rise stay this high, we need this layer to give us higher profit margins for the drop that will surely happen.

    We use this strategy only when we have indications that Bitcoin’s price is bottomed and there’s an opportunity to “buy low”.

    Those indications can be viewed in these two ways:

    1. Finding resistance lines using Bitcoin charts and technical analysis. A post specially designed to explore how to interpret these charts will be available on my blog (want to know when it comes out?+link). 
    2. Following BTC news, testing theories and see what works and what doesn’t.

    I use them both. I use them to make an educated guess whether or not it’s time to buy or to sell. And as you can easily see – IT WORKS!
    (I send my analysis to my readers every once in a while. If you want to get it too – click here)

    Third layer:

    Description: The anti-drop mechanism
    Last, but not least, the third layer. The important one. This layer is designed to CATCH the rise after big drops.

    Because of the simple principle that says we can’t anticipate nor can we predict future prices, we have to be ready for every situation.

    In case study #3 I will further explain how I used this layer to maximize my profit after the big drop that took place two weeks later!

    Monetizing Bitcoin – CASE STUDY #1

    Small profits – First layer

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 10

    1: Write BTC in search on the left side of the screen
    2: Symbol: BTCEUR = Bitcoin to Euro / BRCUSD = Bitcoin to US Dollar

    The main reason this is important is that some people trade only with Euros (from Europe for example) and vice versa.

    Since the price is always determined by people, and people are guided and motivated by psychology and the “Joy” (or satisfaction or whatever) for nice, round and even numbers it must also be treated in our calculated opinion.

    3: Sell and buy

    Let’s look at the USD:

    We can see the sell 11,257 and buy 11,517. This means if I buy now, at market price, the price I will pay will be 11,517 USD for 1 BTC.

    If for any reason, I decide to sell it immediately, the price I will get back will be 11,257, or in other words, I will be losing $260.

    This is called a Spread.

    So, when I buy at 11,517 and use this strategy of:

    Take Profit – 12,000 Stop Loss – 10,000
    (This means that if and when the price reaches 12K the system will automatically exit the position for us at a profit. If price first drops to the 10K line – the system will close our position, but with a loss).

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 11
    I am currently where the yellow marker is, and I put the take profit and stop loss lines as explained in the image. See the yellow marker is closer to the take profit line? This means it has better chances of reaching the take profit line before it reaches the stop loss line. This is the game – what happens first!!!

    For price 11,517 = Take profit needs about $500 more to exit in profit or $1500 drop to lose. Or in math way to describe them – 1 to 3 (25%).

    Take a closer look at this image again: The RED line is exactly in the middle between those two yellow lines. And the odds are mentioned:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 12
    But, since 85% chance isn’t enough, I wait for the price to rise a bit, and enter the red triangle in the next image:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 13
    I immediately gain a statistical advantage that brings my success opportunity to more than 90% chance of winning.

    AND AS YOU CAN SEE, THIS 90% CHANCE DOES NOT LET ME DOWN.

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 14
    This is how it looked when I entered that position. At first, I’m in RED (in the circle) and that means I’m currently in “losing”. But that’s because we have to wait for the spread to close and then we’ll start being in the green (profit).

    We can see in this chart what happened in the few hours leading up to my entry point and following it:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 15
    You see it stayed a while around 11,500 lines (in the yellow area?)

    So, when it dropped a bit I bought (Yellow Arrow). But what happened next, I had no way to predict…

    It continued dropping!

    BUT…

    Luckily my strategy lines had a tolerance to this small drop and from that point, it kept rising. After less than a day: (still negative, but less…)

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 16
    I also measure the time the position takes. If it takes longer than regular then it means that we are currently around the resisting lines.

    It’s very important to know that and this will help us out with further layers.

    A few more hours in and it goes green for the first time! One step more to monetizing Bitcoin.

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 17
    And it only took a few more hours for this position to finally automatically close with 4K profit:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 18
    You can see in the history tab all recently closed positions.

    This position took about two days and was a bit longer than the average of 1.5 days position, and this is how it finished:

    Open price 11,472 (on previous images you could see it was a bit different number. That’s because by the time it took me to capture the screen and save it), TP (take profit) exited for me at 04:23 am in the morning! If it wasn’t automatic I would have never had the chance to do it on time.

    And a profit of €4,459. Not bad for 2 days of not working and with a budget of only 19,000 EUR. 

    Monetizing Bitcoin – CASE STUDY #2

    Further steps to monetizing Bitcoin. This strategy was easy. I showed in Case Study #1 that 12K is a strong line, so I put it for the stop-loss parameter. The TP line is very near, and this doesn’t need to take long…

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 19
    BUT….

    IT TOOK A WEEK!

    I entered here:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 20
    And exited here:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 21
    You can see I entered at a peak!

    This is also very good because that shows me the lines are around 17,000 and 12,000. That’s very interesting for us.

    The exact middle point (14,500) is a strong point and that means every time it drops beneath it – we know it will reach and bounce back again most of the times.

    And we can see it here:

    You can see this chart that was 2 weeks later than the position you just saw!

    This chart that was 2 weeks later than the position
    You can see that I knew what would happen in the near future!!!

    (Yellow line is about 14,500 and the arrows show that it keeps getting back there)

    Those are things we must KNOW and this what this tutorial is all about.

    NOW,

    Let’s go back to our position:

    It took us a week as you can see in the following image:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 23

    Here you see the Order number (yellow circle)

    Even though I entered and exited a few more positions during that time, I decided to manually close this position and not wait until it reaches TP point.

    In the end, as you can see (yellow circle and arrow)

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 24
    Close price was at 16,830 which gave me smaller profit, but since I know now that 17,000 is a hard line to pass, I got out and I will wait for it to drop a bit before I enter again.

    You can also see profits from the same week, and note that the average time is 1-2 days. If it takes longer – we must understand where we are.

    Monetizing Bitcoin – CASE STUDY #3

    After we saw how to make what we can call “easy money” we look at the other side. The losing money side.

    Drops will happen and most of the time, if your strategies are good, you won’t even notice them.

    BUT…

    Every once in a while, there’s a massive drop, in a short period of time. Those are our enemies.

    On Friday, December 22, 2017, there was a massive price drop. In two hours, the price lost 45% of its value(!!)

    That day I lost 40K of profits. And many lost all their money. Searching Google shows 10,700 results from that DREADFUL day. (Following image)
    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 25
    BUT,

    The anti-price-drop strategy proves to be very efficient. Because I got all of it back with more!!!!!

    HOW DID I DO IT? 

    Remember I told you about the 12,000 as a limit line? And I told you about the option to give the system buying order only when it reaches a certain point?

    So that’s what I did:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 26

    I simply created a pending order for a few months ahead.

    This means that if price drops beneath 11500 (which is minus 500 from the 12K line we saw earlier) I automatically buy at this price.

    I did it with the BTCEUR symbol so I wouldn’t get confused.

    This means I used layers 1+2 with the BTC to USD position and BTC to EUR on layer 3, the anti-drop layers.

    What happened that dreadful day: The price dropped from $13000 to $9000 (yellow circle)

    The price dropped from $13000 to $9000
    So I put the pending order at approx. price 11900 (blue arrow) and when it dropped to 9,500 (black circle) the system automatically filled my request and bought BTCEUR

    And just a few hours later

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 28

    20K PROFIT!

    SWEET!
    IT WASN’T OVER!
    Few more hours passed, and I was back at the point I was before the massive drop:

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 29

    Pretty nice, isn’t it?

    Monetizing Bitcoin – CASE STUDY #4

    Before I show you the results of this position, I want to show you what I measured and analyzed and how it affected my decision.
    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 30

    This chart (A) is what I saw before entering the position, and Chart B is the position itself.

    You see that almost half of the time the price is around the $8000 line, right? (Big blue line…) Then, it skips $9000, straight to $10000 (Yellow line)

    Now, if you were at this point of time and saw it going over $11000 and then $11500 you could have believed it’s now about to reach $12000…

    BUT…

    As I keep teaching my students, at this time there are people who bought at $8000, and we saw it spent A LOT of time on that line (blue line), so they will realize their Bitcoin! Remember?

    That’s what WE ARE DOING!

    Trying to realize funds… And as this is the best strategy out there, we have every reason to believe many more people do the same.

    So that’s why we see it moving around the $10000 line (Red line) for few more days and then when it popped the $11500 line again, I entered at $11750.

    My strategy was:

    TP (Take Profit): 13,000 SL (Stop Loss): 10,000

    There was a chance it will get back to 10K. I know. But I wanted it to end as soon as possible…
    This is the position (Marked in yellow fill):

    The use of stop loss

    See the nice 10K profit!

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 32
    It did end up higher later on, and if I were to put TP at 15,000 it would probably end up in approx. 30K profit right into my pocket, but this was a layer one – easy and small profits for short periods of time.

    WE CAN NEVER REGRET OUR STRATEGIES.

    Monetizing Bitcoin – CASE STUDY #5

    One of the best trades I did! (Marked in yellow fill)

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 33

    And that’s the profit I ended up with (€4,137.14).

    MONETIZING BITCOIN - THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 34

    But how did I know when to enter??

    I saw it staying on 16,500 lines and bounce back, never reaching 17,000 nor 16,000 (yellow lines) So when it reached 16,500 after few hours…

    I entered this position:

    TP: 17,000
    SL: 16,000

    Where it’s an 85% chance of winning, but I also measured time so…

    When it ended after just a few hours, I knew 17,000 is a good line and in the near future, the price would touch this line a few more times.

    NOTICE: I didn’t know if it would rise above that line.

    BUT (!!)

    I know some people are willing to pay $17,000 for 1 Bitcoin – and that tells me a LOT.

    This chart shows 4 days after the position and my conclusion:

    The chart shows the position after 4 days

    The yellow line shows the 17,000 lines, and how the price kept “touching” it.

    A good strategy was: Pending order

    Enter at 16,000
    TP: 17,000
    SL: 15,000

    But a better strategy was:

    Enter at 16,500
    TP: 17,000
    SL: 15,000

    Why was that a better strategy? Three reasons:

    1. The price moved around 16,500 a lot more than 16000. This raised our chances of catching something at all…
    2. Since the distance the price has to go in order to reach TP point is way lower than the SL point, the chances of it reaching our stopping point before reaching profit point drop exponentially.
    3. It happened a few times, so potentially we could have profited from the same rise in price a few times!

    Monetizing Bitcoin – CASE STUDY #6

    Buying Ethereum

    This is a way to show you that you can also trade Ethereum using the same principles and profit:

    Ethereum as an example

    1. Under Cryptocurrencies see ETHUSD
    2. In the amount window, we can buy only 10 units (like Bitcoin). I don’t know why it is but that’s a fact. That’s why I prefer trading Bitcoin for higher profits…
    3. The strategy I created: See the following image:

    This is a chart from two weeks before my position:

    bitcoin chart progress

    That was easy. See it reached over $ 800?

    So it means there are people who believe it’s worth that much…

    So when it was down at about $650 I bought with this strategy (Also in the previous image where I got lucky and the price kept dropping so I ended up buying in about $625)

    Strategy:

    TP: 700

    SL: 450

    Why 700 – because that’s a price it already spent time on (Green circle) so it will probably reach there again.

    Why 450 – Because it’s also where it spent time, and if it drops beneath I wouldn’t want to be around there… (Red circle)
    All in all, after 4 days – a nice profit of 636 EUR…

    The profit after 4 days
    You can copy this method to other cryptocurrencies.

    HOW TO CREATE A GOOD STRATEGY BUDGET FOR Monetizing Bitcoin

    OKAY, THIS IS THE MOST IMPORTANT STEP. AND… IT’S REALLY EASY!

    The formula I’m about to show you will save you a lot of time:

    How to invest your money wisely on strategies:

    You’re probably looking for a simple solution like:

    30 % Layer one 40 % Layer two 30 % Layer three

    And you are not all that mistaken,

    BUT…

    It’s a bit more complicated than that because it HAS to be dynamic.

    So I developed a method for Trading in Bitcoin. I call it Bubble Bubble Boom (the BBB Method) and it’s so simple it’s almost a crime not to share it with others…

    HERE IT IS:

    For every position, we risk no more than 50% of our Balance.

    If there’s a loss (it will happen 15% of the time) – We stop all trades and start building our Layer three strategy.

    Since strategy in layer three is Pending Order we again risk only 50% of the balance. If it’s a win – we continue normally
    If it’s a lose – We stop all Bitcoin trades and wait 2-3 weeks to see developments over the media Overall, we allow only 2 stops before we take this down for a few weeks for reorganization.

    And start all over again, until the bubble pops…

    FINAL WORDS ABOUT MONETIZING BITCOIN

    I’M SO GLAD TO SEE YOU HERE!

    This means you found my tutorial interesting and you probably want to learn more.

    First of all, visit my blog to see what is new (I write daily), and if you become a subscriber you’ll have a 90% chance to make more money by the end of the year!

    I’m kidding, I can’t promise that…

    BUT…

    I can promise my subscribers already got strategies that made all around over 3.5 million USD in net positions, so for sure it will be fun!

    And of course you can reach me there if you have any questions about this tutorial, or you want to share your ideas or anything you want – I’m here for everyone!

    PLEASE ALWAYS REMEMBER: NEVER TRADE / INVEST / PLAY ON MORE THAN 0.5%-2% OF YOUR NET WORTH. NEVER EVER.

    How to choose a broker?

    I keep getting asked questions on how to trade, and where, and who is reliable… So I decided to finally share my portfolio!
    In order to trade and also get paid for it, you have to have a broker. There are several brokerages and you won’t find it hard to find a broker. Google can help you with that.

    I work with two different in this analysis of Monetizing Bitcoin. Each one for my different needs.

    In this tutorial, I showed you Tradeo platform and that’s what I use to trade BTC because it’s easier.

    Although this tutorial was made on a different platform. Anyway, you should try on some demo account to test out our Case Studies of monetizing Bitcoin above.

    I recommend that wholeheartedly, a demo account is extremely important for trial and error free of charge.

    HOPE YOU ENJOYED IN OUR JOURNEY OF MONETIZING BITCOIN!

    risk disclosure

    About the author

    Guy Avtalyon, the data analyst and author of the tutorial

    Guy Avtalyon is a data researcher that uses statistic models and unsupervised machine learning algorithms to determine trends in the market.
    ”The truth lies within the data.’



  • Twitter CEO Jack Dorsey thinks Bitcoin will be the Currency of the Internet

    Twitter CEO Jack Dorsey thinks Bitcoin will be the Currency of the Internet

    Twitter CEO Jack Dorsey thinks Bitcoin will be the Currency of the InternetTwitter’s Jack Dorsey believes that BTC will be the common currency of the Interner

    By Gorica Gligorijevic

    Twitter CEO, also CEO of Square says there will be a native currency for the internet. Jack Dorsey, CEO of Twitter and the mastermind behind the popular money transfer application “Cash App,” shared his confidence about Bitcoin.

    Appearing on the Joe Rogan Experience podcast, he stated that the Internet will eventually have a currency, which he thinks will likely be Bitcoin.

    Jack Dorsey explained that he still feels that BTC meets all the conditions to become the common currency of the internet in the future.

    For Twitter and Square chief, Bitcoin, the top-ranked cryptocurrency seems best-suited to that role.

    No plans, just personal view

    Jack Dorsey said that he has no plans for that at the moment, however, he expressed his personal view towards cryptocurrency and the internet.

    “I believe the Internet will have a native currency and I don’t know if it’s Bitcoin. I think it will be given all the tests it has been through and the principles behind it, how it was created. It was something that was born on the Internet, was developed on the Internet, was tested on the Internet, it is on the Internet.”

    Jack Dorsey believes that the internet will have its native currency one day, although he doesn’t know what that would be.

    Bitcoin could be the currency of the internet 

    But when he elaborates his opinion further, he says that it could be Bitcoin. His opinion is based on the tests Bitcoin has been through all this time, the principle behind its creation. And all of that happened on the internet.

    Twitter CEO has no plans to create his own currency, but he wants to participate in the growing technology, which he said to have done through the CashApp project.

    YOU WOULD LIKE TO READ Forget Everything You Knew About The Money! The New Era Has Started!

    Twitter CEO claimed that his company is the first publicly-traded company that offers crypto (Bitcoin) purchasing as a service.
    Dorsey has made similar observations, commenting in May 2018 that Bitcoin should be the native currency of the Internet.

    Thus, Dorsey says Square’s focus is solely on BTC with no present plans to offer support for other cryptocurrencies on the Square Cash App.

    Speaking about Square’s decision to offer support for the largest cryptocurrency, Dorsey said it gave the company the ability to serve more people across the world far better than was possible using mainstream channels.

    “We’d love to see something become the global currency. It enables more access, it allows us to serve more people and allows us to move faster around the world.”

    Twitter CEO: The Internet is like one nation 

    Dorsey compared the Internet to a single nation that exists digitally. Hence, it only makes sense that it would have its own universally accepted currency.

    Present-day fiat money is usually subject to nationalistic policies that might not appeal to different places across the globe. Bitcoin, however, is based purely on mathematical algorithms providing a certain sense of neutrality and universality devoid of any geographical or political bias.

    Jack Dorsey thinks the internet will eventually have its own currency and BTC is out in front in the race to be the chosen crypto. Twitter CEO doesn’t necessarily think mass adoption is near, but that worldwide cryptocurrency use will take hold soon.

    Banks don’t like Bitcoin’s disruption

    As the first and still biggest cryptocurrency, it’s not a bad bet. Bitcoin processed an incredible $9 billion in the past 24 hours, dwarfing any other blockchain by miles.

    Bitcoin, moreover, is the most integrated crypto. It remains still the only one to have regulated futures, its logo stands for the blockchain and it has a brand.

    Dorsey also mentioned the attitude of banks towards Bitcoin. Unsurprisingly, banks and many other financial institutions aren’t fans of Bitcoin’s disruptive tendencies, the Twitter CEO said.

    YOU WOULD LIKE TO READ: Two of the richest men in the world call Bitcoin “rat poison”

    JPMorgan analysts released, in January, a report claiming that BTC’s value could only exist in a dystopian economy. In 2018, Warren Buffet called Bitcoin “rat poison squared.”

    “People treating BTC like virtual gold,” said Twitter CEO

    “We notice that people are treating it (Bitcoin) as an asset, like virtual gold. We want to make it easy, just the simplest way to buy and sell Bitcoin. But we also knew that it had to come with a lot of educations, a lot of constraints,”  said Dorsey.

    Reminding what happened 3 years ago, when people had the “unhealthy way” of purchasing Bitcoin by using their life savings, Dorsey decided to put a very “simple” restriction and constraint on his app.

    “You can’t buy Bitcoin on CashApp with a credit card. It has to be the money you actually have in it. We look for day trading which we discouraged and shut down, that’s not what we’re trying to build, that’s not what we’re trying to optimize.”

    When the master of industry like Jack Dorsey speaks about the efficiency of cryptocurrency tends to lead to ecstatic investors. However, Dorsey has warned against wild speculation and hopes to push the public towards using digital currency rather than the narrow mentality of “hodl” and wait for riches.

     

  • Bitcoin Bear Market Is Far From Over

    Bitcoin Bear Market Is Far From Over

    2 min read

    Anniversary to Bitcoin!
    Bitcoin and the Bear market? Why the bear markets are the best time to be in crypto?

    Recently, Bitcoin made a strong rally. Enough to break past the neckline of its double bottom at $3,600 to $3,700. This can be an uptrend underway. If buyers keep the price above the area of interest, it will be possible. 

    If you apply the Fibonacci retracement tool on the latest swing low and high shows that the 38.2% to 50% levels span the former resistance. That might now hold as support. That means bitcoin could recover to around $4,035 and beyond.

    Analysis indicates that the current Bitcoin price chart entirely mirrors that seen in late-2014 and early-2015, this market’s last moody bear market.

    What happened then?

    2013 marked a very significant year not only in the history of Bitcoin’s bear market but in the history of Bitcoin as a whole. In October 2013, FBI officially shut down the Silk Road. 

    Silk Road was an online black market. It also represented the first modern darknet market. However, Silk Road’s represented the crypto asset’s first form of widespread user adoption.

    The Silk Road closed activity in October of that year. But the price of Bitcoin continued to rally until the end of November before the market had fully systemized the effects of that event.

    It is impossible to know when Bitcoin has reached its peak while events are ongoing. Even more, the media didn’t help paint a clear picture of reality. At the time, even as the price of Bitcoin began dropping, headlines were incredibly optimistic.

    But, during Bitcoin’s reversal period in January 2015, the general sense in media’s headlines was negative.

    These headlines did not provide any positive signals to indicate the bottom of Bitcoin bear market, at that time.

    Let’s go back to 2018! What is happening now with Bitcoin?

    Although many have claimed that Bitcoin, has finally touched the bottom in 2018’s market downturn, data indicates that many investors still see plentiful amounts of value in blockchain-based assets.

    The research group divulged that the 30-day moving average of Bitcoin flow into investors’ wallets has been on the rise, eclipsing the $400 million milestones as of November 1st. Well, $400 million out of Bitcoin’s current $65 billion market capitalization isn’t especially important. In June, this same figure was $300 million. In that period, the price of Bitcoin was approx $6,000. Those days it is about $3,750. November’s inflows should be seen as a bullish indicator.

    The data suggests that investors have sought to accumulate Bitcoin at lower prices. Many investors started to allocate more capital towards Bitcoin, due to their long-term belief in the asset’s underlying value.

    That wasn’t the case only with “personal wallets”. The institutional players via Grayscale Investments saw an increase in Bitcoin balances. It is an investment-centric subsidiary of the conglomerate that is Digital Currency Group (DCG).

    Since the start of 2018, Grayscale has seen its Bitcoin coffers swell by 30,600 BTC to 203,000 total.

    Now it accounting for more than 1% of the asset’s total circulating supply.

    Bitcoin Bear Market Is Far From Over

    As seen in the chart above (sourced from LongHash), the wallets pertaining to Grayscale’s GBTC, a vehicle that allows retail and investors to purchase customized BTC on the U.S. OTC market, has seen month-over-month increases.

    Markets move solely based on the demand from investors. Hence, if investors think a large rally cannot be maintained throughout the years to come, then some of the largest markets can experience steep sell-offs.

    Bitcoin made the recovery and market watchers are pinning it on a number of factors. First is the Coinbase offering of crypto to crypto trading that could boost volumes in the retail sector. Next is the report that Mark Dow, the former IMF economist that opened a major short play on bitcoin after it hit its all-time highs, closed his remaining position also led many to think that he may already be seeing a market bottom.

    Bitcoin could take a longer time to recover than in previous years.

    Because the market is more structured.

    But, it is wrong to claim that Bitcoin could drop to zero because of its 85 percent decline in price this year. This because, in the previous year, it demonstrated a 1,850 percent gain. And a major correction was expected after such a large movement.
    But many aren’t convinced that lines can be accurately drawn. The Bitcoin industry has matured beyond measure in the past year alone, and even more so in the past four. Moreover, others have claimed that the worst has yet to come for crypto assets.
    Vinny Lingham, CEO of blockchain-centric identity ecosystem Civic, explained that trading within the aforementioned $2,000-wide range is likely to continue for a minimum of three to six months, a common timeline in the eyes of Bitcoin’s short-term bears. The entrepreneur added that if a convincing breakout isn’t established by the end of Bitcoin’s six-month range, a strong foray under $3,000 wouldn’t be out of the realm of possibility.

    The Civic chief noted that Bitcoin will likely remain range-bound between $3,000 and $5,000 “for a while.”

    But Fundstrat’s Tom Lee said: ”Bear markets are a ‘Golden Time’ to be in crypto.”

    Bitcoin bear market is far from over, this is the opinion of analytics.

    Risk Disclosure (read carefully!)

  • ASIC Miner the Best Crypto Mining

    ASIC Miner the Best Crypto Mining

     

    3 min read

    ASIC Miner the Best Crypto Mining
    To introduce ASIC miner, we have to know what crypto mining is. The mining is not just a way to make money but an essential and fundamental piece of any cryptocurrency. Mining is the mechanism that secures the cryptocurrency blockchain and continuously enlarge it. Cryptocurrency Mining is important like it is an important central bank in any economy. The main difference is that mining is costly and is regulated by the network rules.

    In economies, printing new money is cheap and happens by the will of politicians and bank officials.

    Cryptocurrency mining was originally designed to be something everyone could do with their home computer, but those days are long away behind us. Today, whether you’re mining Bitcoin, Litecoin, DASH, or some other cryptocurrencies, the most effective way to do so is with a piece of hardware known as an ASIC miner.

    It’s not a desktop PC or a dedicated graphics card mining rig. It’s something else. Full name is Application specific integrated circuits. That are chips that are designed with a singular purpose, ranging from audio processing to managing a cellphone call.

    In the case of cryptocurrency mining, these chips are built into specifically-designed motherboards and power supplies. All constructed into a single unit. It is an intentionally designed and developed hardware right down to the chip level.

    What ASIC miner does

    In short, mining is the process of running complicated calculations in the search for a specific number. Mining hardware has to run through many calculations before finding that number. In proof of work systems like Bitcoin, the first one to find that number gets a reward in Bitcoins.

    Miners also try and find that number and tend to earn more if they have faster hardware. That’s why people who can afford it opt for ASIC miners because it gives them the greatest chance of earning cryptocurrency in exchange for their investment.

    ASIC Miner the Best Crypto Mining 1
    Each cryptocurrency has its own cryptographic hash algorithm. ASIC miners are designed to mine using that specific algorithm.

    Bitcoin ASIC miners are actually designed to calculate the SHA-256 hash algorithm. In the case of Litecoin, it is Scrypt.

    Technically they could mine any other coin based on the same algorithm. But people who buy ASIC hardware designed with one particular coin in mind, mine that coin.

    Why is ASIC miner better?

    ASIC miners differ from CPU mining system in more general pieces of hardware which are designed to do more than one thing.

    While mining cryptocurrencies, the most important thing is that the cryptocurrency you mine is worth more than what you spend on hardware and electricity. Those margins are closer than you can imagine. Mining cryptocurrency can be very expensive.

    Hardware can be expensive, and you can spend thousands of dollars a year in electricity to run.

    That’s why the mining hardware you choose, have to have more efficient systems. This is incredibly important. That’s where ASIC miners come in. They are designed from the ground up to perform the calculations required by a specific cryptographic hash algorithm used by an individual.

    They are unbelievably efficient at doing so. They’re powerful, they are offering a high “hashrate”, and energy efficient, using far less power than a more general piece of hardware might do for the same task.

    This combination of performance and low-power usage are the reasons why they are much more economical than other hardware.

    In the case of Bitcoin and Litecoin, ASIC mining is just about the only way anyone mines those cryptocurrencies any more.

    How to choose the best ASIC Miner

    The main factors that will help you to determine the best Bitcoin ASIC miner for your personal needs are:

    1 Hash rate. Hash rate is measured in hashes per second. The more powerful your miner is, the bigger the block reward you get.

    2. Efficiency. Hash rate is not the only nor final factor when it comes to picking the best Bitcoin miner. It also has to make the best use of the amount of electricity you spend. Your mining profitability highly depends on your electricity expenses, because you want to get the maximum amount of Bitcoin.

    3. Price. At early stages of Bitcoin mining, it is all about counterbalance with your initial investment. You have to calculate the mining profitability and decide whether it’s worth purchasing a leading miner. Also, you can simply stick around with less expensive one that will give you more efficiency. Not always the most expensive is the most efficient.

    5 the biggest ASIC chip producers

    Bitmain. The Beijing-based company still controls 85% despite the reports that are losing its monopoly status due to the cutthroat competition in this niche of the cryptocurrency industry. Bitmain managed to grow so quickly because of the enormous success of their Antminer line. That includes the legendary miner Antminer S9. Bitmain operates numerous mining pools that are responsible for more than 51 percent of the Bitcoin hashrate.  

    Canaan Creative. Canaan Creative is the second biggest Bitcoin mining hardware manufacturer the world after Bitmain. Apart from plenty of its miners, the company has introduced the first mining TV.

    Halong Mining. There is competition. Back in November 2017, another Chinese manufacturer introduced the world’s most efficient miner Halong DragonMint 16T, continuing an intense ASIC mining hardware race.

    The best ASIC miner on the market

    There is some dilemma Antminer S9, or Antminer S9 Hydro.

    Antminer S9 has already become a legend among ASIC miners, but is this still good enough? You can buy 14 TH/s for less than $700. One of the drawbacks of this miner is that it is very sensitive to high temperature.

    If you want to use it, your primal task is to ensure that it gets good cooling. Let’s say, the best choice is to have one specific room for mining. Bitmain’s previous hit product Antminer S7 has drastically dropped in price after they release Antminer S9.

    Maybe purchasing a couple of used S7 miners is a good idea.

    At the end of August this year, a brand-new ASIC miner appeared on Bitmain’s official website named S9 Hydro. Basically, it is the good old Antminer S9, but they added a new hashing board that increases the total hashrate up to 18 THS. Also S9 Hydro produces is not as noisy as other ASIC miners but the other fundamental technological characteristics are almost the same.

    Halong Mining made Halong Mining DragonMint T1 in November 2017. This ASIC miner managed to pull off up to 16 TH/s, which is a visible improvement from 14 TH/s offered by Antminer S9s. DragonMint T1 has a bit higher efficiency compared to older Antminer S9s, but it didn’t even come close to the previously declared numbers. But, it’s up to you to consider whether you want to pay $300 more for this miner.

    The advantage

    One of the evident advantages of DragonMint T1  as a type of ASIC miner is its cooling solution. It is presented in the form of dual nine blade variable fans which keep the temperature at 25 degrees. This miner was developed with Samsung. After landing a deal with the South Korean tech giant, Halong Mining poses as a viable competitor to Bitmain.

    ASIC Miner the Best Crypto Mining 2
    AvalonMiner 821 was officially revealed by Canaan Creative last December after the success of its previous-generation AvalonMiner 741. This miner has a hashrate of 11TH/s. Unlike DragonMint T1, AvalonMiner 821 only has one cooler, but it still provides the owner with a substantial level of cooling. Furthermore, the miner is resistant to different temperatures.

    This ASIC miner is absolutely compatible with huge mining pools like Nicehash.com, Slushpool.com.

    AvalonMiner 821 trails Antminer S9s by 10 percent in terms of mining efficiency. It is still a viable option for those who want to save some cash. It currently costs around $700. While you still have to buy a $200 PSU for this miner, a total of roughly $900 is still less than Antminer S9.

    The bottom line

    Where is this ASIC race going?

    In this article, we are focusing on the developments in Bitcoin (SHA256) mining ASICs but the mining race is much bigger. All the companies that have entered the Bitcoin mining race will expand to other hashing algorithms to maximize their profit and market share.

    A lot of cash is investing in this race. All because of the expectation that the number of mining hardware companies will only grow. Some of the large semiconductor companies may enter the race too. It won’t be a surprise if they direct some of their teams’ design capabilities to design and fabricate ASIC mining chips. And it is quite likely that every major ASIC manufacturer already has a new 7nm ASIC up its sleeve.

    ASIC mining is a huge global industry, so large mining farms are willing to pay millions in order to have a sneak peek of exclusive miners.

    Risk Disclosure (read carefully!)