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It’s been a good month for Bitcoin believers. The currency of the future — or is it the future of currency? — became legal tender in El Salvador.

Some might dismiss as a publicity stunt the embrace of a digital currency by a country where only a third of the population has internet access. Some Salvadorans took to the streets to protest. But let’s not minimize this moment. Esperanto, the language of the future, never managed to become an official language in any country.

Bitcoin, for the uninitiated, is a technology that purports to solve a host of problems with old-fashioned national currencies. It is designed to safeguard wealth against the depredations of inflation, public authorities and financial intermediaries.

Unfortunately, it doesn’t work. Some products become popular because they’re useful. Bitcoin is popular despite being mostly useless. Its success rests on the simple fact that the value of a Bitcoin has increased dramatically since its introduction in 2009, making some people rich and inspiring others to hope they can ride the rocket, too.

It’s not really a virtual currency at all. It’s virtual gold, a vehicle for speculative investment made possible by some interesting technical innovations. It’s the absurd apotheosis of our financialized economy, an asset unmoored from any productive purpose. In the beginning were bonds and then synthetic bonds and then Bitcoin.

The popularity of Bitcoin and its hundreds of imitators is also a product of understandable confusion and uncertainties. In this era of technological disruption, it’s hard to tell which parts of human life might be improved by the internet, and those who didn’t foresee the rise of, say, Amazon should be hesitant to write off the future of Bitcoin.

But it’s worth being clear about what Bitcoin is right now.

The supply of Bitcoin is capped by design, which is meant to prevent inflation. That doesn’t mean the value of Bitcoin is stable. Sometimes it goes up, which is a nice benefit not generally available with traditional currencies. On the other hand, sometimes the value goes down just as fast as during a bout of hyperinflation. El Salvador, which is requiring businesses to accept Bitcoin, has promised to make it possible to rapidly convert it into real money. That’s not exactly the hallmark of a useful currency.

The rigidity of Bitcoin’s design also makes it dangerously impractical as a replacement for national currencies. It is part of a long tradition of trying to prevent politicians from making bad economic policy decisions by preventing them from making any decisions. The gold standard is an older example of this disastrous concept.

The security of Bitcoin is greatly overstated. It can be lost. Indeed, by some estimates, 20 percent of all the Bitcoin in existence is no longer accessible because the passwords have been lost or forgotten. In 2018, more than 100,000 people lost the Bitcoin and other virtual currencies they had entrusted to a Canadian company, Quadriga, after the founder died suddenly, leaving behind no record of the password to the company’s virtual vault.

Bitcoin also can be seized or stolen. During World War II, the German government relied on a code called Enigma, which its mathematicians insisted was impossible to break. The British famously broke it, basically by figuring out the password. That’s also how the federal government apparently recovered part of a Bitcoin ransom payment worth several million dollars from hackers who took down the Colonial Pipeline and blackmailed its owners this year.

Perhaps most important, Bitcoin is difficult and expensive to use as a currency. To the extent any people manage to use it, they mostly rely on a growing infrastructure that looks a lot like the traditional financial system. El Salvador hired a financial firm to create digital wallets for its citizens — which are basically what used to be called bank accounts.

Virtual currencies, much like pickup trucks, are marketed for off-road use. But the reality is that the vast majority of users choose to stay on the streets and highways.

It’s possible, but hardly evident, that this new infrastructure will improve upon the existing financial system — for example, by making it cheaper to move money across borders. But that hasn’t happened yet. For now, the people using Bitcoin are basically a bunch of cosplay libertarians participating in a game of make-believe on the playgrounds of the nanny state.

Most Bitcoin holders, of course, don’t even see it as a currency. They’re in it to get rich, which is the one service that Bitcoin has managed to deliver.

There are reasons to worry about this, too. Bitcoin mining is an environmental disaster, requiring vast amounts of electricity — more than the nation of Finland.

Speculative frenzies divert resources and attention from productive investments.

And the bigger the bubble, the greater the damage when it pops.

But until this month, I wasn’t all that worried about Bitcoin. The current frenzy is sometimes compared to other famous bubbles, like the Dutch tulip craze of the 17th century. One key commonality is that both involve a relatively small group of investors with money to burn. Most Dutch didn’t buy tulips; most Americans don’t own Bitcoin.

If politicians start taking Bitcoin seriously, however, that would be reason for greater concern. It is a pleasant illusion that the problems in the financial system can be solved by replacing it rather than doing the hard work of fixing it. That kind of escapism makes for entertaining chatter on the internet. National leaders really should know better.

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(Bloomberg) -- Surging demand for NFTs and DeFi apps is allowing backers of Ethereum to dampen the cacophony of Bitcoin maximalists who have long claimed that only the original cryptocurrency matters.

Ether, the native token of the most-used blockchain, jumped 36% in August, more than double the 13% return for holders of the biggest digital asset by market value during the same period. So far this year, Ether is outperforming Bitcoin by the widest margin going back to at least 2018, Bloomberg data show.

The Ethereum “community has taken up that mantle to a much louder degree and that sort of blockchain development is really having a bullish moment in crypto right now,” said Stephane Ouellette, chief executive and co-founder of FRNT Financial.

Many analysts had projected that Ether would rally following a major software upgrade to the Ethereum blockchain in August. The enhancement, code-named London, trims the pace at which the supply of Ether tokens grows.

Ahead of the upgrade, many investors argued the reduction of the coin’s supply could result in higher prices due to increased scarcity. Others also said the supply could drop further once Ethereum moves to a different mechanism of verifying transactions, something that could happen in the first quarter of next year. This new verification system will use computers supporting the Ethereum network to stake Ether coins instead of miners in most cases.

“The innovation at play in the smart-contract arena had been defeating maximalist mantras for quite some time,” said Mati Greenspan, founder and CEO of Quantum Economics. Still, because a lot of the advancements -- particularly in DeFi and NFTs --are so new, it’s difficult to say exactly how much more growth there will be or what other new sectors might arise, he said.

The case for Ether surpassing Bitcoin has been been a constant theme in crypto since the alternative blockchain was created. Bitcoin maximalists maintain that it remains the purest form of digital money and point out that the original cryptocurrency has a market value of about $900 billion, or more than double that of Ether.

August marked Ether’s second consecutive monthly advance and its best monthly performance since April. The coin is up more than 350% this year, compared with Bitcoin’s 60% gain. On Wednesday, it rose about 5% to $3,558 while Bitcoin gained around 1% to $47,400.

“Ethereum is seen as a better store of value -- that’s why it has been preferred by institutions for a while now,” said Matt Maley, chief market strategist for Miller Tabak + Co. “It is now becoming preferred among all investors.”

And it’s not just Ether that’s been in the limelight recently, said Ouellette. Solana and Cardano represent projects with a similar focus and both have rallied.

Among analysts and investors, there’s little consensus as to what’s driving parts of the frenzy for smaller or alternative coins. Some posit that speculators are moving from the mainstays to newer, more exciting offshoots, as they often do after big runs. Others see a world awash in cash and ultra-low rates, which ultimately pushes investors toward ever-wonkier assets.

Wilfred Daye, chief executive officer of Enigma Securities, said Ethereum is the fabric of the tokenized economy and it has a deeply rooted and solidified programmer community. From a trading perspective, “ETH has higher volatility than Bitcoin and similar liquidity profile as Bitcoin,” he said. But, “in the long run, ETH has a real chance of outperforming.”

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SHANGHAI — China intensified a crackdown on cryptocurrency trading on Friday, vowing to root out "illegal" activity, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.

Ten Chinese government agencies, including the central bank as well as banking, securities and foreign exchange regulators, said in a joint statement they would work closely to maintain a "high-pressure" clampdown on trading of cryptocurrencies.

The People's Bank of China (PBOC) said cryptocurrencies must not circulate in markets as traditional currencies and that overseas exchanges are barred from providing services to mainland investors via the internet.

The PBOC also barred financial institutions, payment companies and internet firms from facilitating cryptocurrency trading.

The moves come after China's State Council, or cabinet, vowed in May to crack down on bitcoin mining and trading as part of efforts to fend off financial risk, sparking a major sell-off of cryptocurrencies.

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The Chinese government will "resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people's properties and maintain economic, financial and social order," the PBOC said in a statement on its website.

In response to the latest move, bitcoin, the world's largest cryptocurrency, dropped over 6 percent to $42,2167, having earlier been down about 1 percent.

Smaller coins, which typically rise and fall in tandem with bitcoin, also tumbled. Ether fell 10 percent while XRP a similar amount.

"There's a degree of panic in the air," said Joseph Edwards, head of research at cryptocurrency broker Enigma Securities in London. "Crypto continues to exist in a grey area of legality across the board in China."

The move also hit cryptocurrency and blockchain-related shares.

U.S.-listed miners Riot Blockchain, Marathon Digital and Bit Digital slipping between 6.3 percent and 7.5 percent in premarket trading. China-focused SOS dropped 6.1 percent while San Francisco crypto exchange Coinbase Global fell 3.4 percent.

The National Development and Reform Commission (NDRC) said it was launching a thorough, nationwide cleanup of cryptocurrency mining. Such activities contribute little to China's economic growth, spawn risks, consume a huge amount of energy and hamper carbon neutrality goals, it said.

It's an "imperative" to wipe out cryptocurrency mining, a task key to promoting high-quality growth of China's economy, the NDRC said in a notice to local governments.

Virtual currency mining had been a big business in China before a crackdown that started earlier this year, accounting for more than half of the world's crypto supply.

The NDRC said it will work closely with other government agencies to make sure financial support and electricity supply will be cut off for mining. The national planning body also urged local governments to come up with a specific timetable and road map to eradicate such activities.

Previous restrictions, issued by local governments, paralyzed the industry as miners dumped machines in despair or sought refuge in places such as Texas or Kazakhstan.

The City of Miami is dedicated to becoming a model 21st century city. We think that means embracing and supporting disruptive technologies that challenge the status quo and improve how we interact with one another. Bitcoin, the decentralized financial network that allows individuals worldwide to store and send value to one another without intermediary agents like banks or payment processors, is a technology we believe will transform the world. 

Bitcoin is the invention of a pseudonymous computer programmer called Satoshi Nakamoto. In October 2008, the still unknown Satoshi published a white paper called "Bitcoin: A Peer-To-Peer Electronic Cash System," outlining his proposal and the mechanics of what we now commonly refer to as Bitcoin's "blockchain." The Bitcoin network has run continuously and without incident since its launch on January 3, 2009. The network currently secures over $600 billion in value and its native cryptocurrency (bitcoin with a lowercase "b" or "BTC") is seen by many experts as the next great store of value and akin to a digital gold.  

The City of Miami is actively exploring how we can best utilize Bitcoin and related technologies and are committed to supporting and attracting businesses and entrepreneurs innovating in the space. 

Read the Original Bitcoin White Paper(PDF, 231KB).

Bitcoin picked just the day to show its extraordinary volatility.

As the cryptocurrency was officially adopted as a national currency in El Salvador on Tuesday, it tumbled as low as $43,000 after breaking above $52,000 for the first time in three months.

While some traders saw the sudden crash as a "buy the rumor, sell the news" event, others say there are bigger forces at play. Most evidently, the cascading liquidations of leveraged futures are partly to blame. 

The price slump "appears to be mostly coming from highly leveraged traders trend following," as too many people anticipated new highs, Lucas Outumuro, the head of research at the blockchain-analytics firm IntoTheBlock, told Insider in an email. 

He added that the ratio of perpetual swaps open interest to bitcoin's market cap had recently reached above 1.55%, an indicator for near-term price corrections.

When traders take out a leveraged futures position in the hope of amplifying returns, they must post collateral in their margin account or risk being liquidated. The higher the leverage used, the higher the collateral amount they must deposit. As a result, sudden price moves could cause traders to quickly fall below margin requirements and get liquidated. 

As of Wednesday morning, more than $3.25 billion in crypto positions had been liquidated over 24 hours, affecting more than 300,000 traders, according to Bybit, the crypto exchange where traders can still use hundredfold leverage.

Liquidity evaporates amid a perfect storm 

While liquidation cascades moved prices, a mix of factors caused a liquidity shortage that intensified the dramatic intraday moves, according to Patrick Heusser, the head of trading at Crypto Finance Brokerage.

"On Tuesday, we had the perfect storm because you had the long US holiday weekend. You had an upward moving market, so the market makers were notoriously short cash because they had to hedge all their futures they lost to the leverage guys," Heusser told Insider, adding that these were his personal thoughts. "And then they were probably a bit too complacent on Monday, not sending enough capital quickly to their trading venues."

Against such a backdrop, when the market started to tumble, market makers ran out of dollars and stablecoins to buy tokens at some point. "If the market continues lower, you pull out, so the market makers were turning off their machines. They pulled out," he added.

As market makers and liquidity providers ran out of capital to quote, crypto exchanges also encountered various operational issues that caused them to temporarily go offline, as is typical in such sudden crashes.

A breather for altcoin season and NFT frenzy 

The latest crypto crash came amid a trading frenzy over altcoins and nonfungible tokens, but traders and analysts said that it did not spell doom for the two red-hot trends in the $2 trillion market. 

"We typically see the altcoins making all-time highs while BTC and ETH take a breather towards the end of the cycle. I'd say this is more of a local top than a cycle top," Kevin Kang, a founding principal of crypto asset hedge fund BKCoin Capital, told Insider in an email. "I'd expect the market to digest the rapid movement in the coming days trading sideways, and some of the quality altcoins will continue to rally towards the year-end."

But as crypto prices remain in retreat, there could be less risk seeking in the short term.

"In some of the NFT markets, the floor hasn't really moved much. It's just the overall dollar value has dropped 20% to 30% because coins linked to the NFTs drop that much," Heusser said. "In a market like yesterday, no one is in the mood to buy. It doesn't really trade, so the floor doesn't really change."

Altcoins worth buying on the dip 

After this week's leverage washout, some analysts are predicting more volatility ahead.

Joseph Edwards, the head of research for Enigma Securities, has been very negative on crypto-market prospects for September for a while. 

"The key thing for investors to understand is that there's no medium term here," Edwards told Insider in an email. "If you're looking to invest based on potential adoption and partnerships in the next six to 12 months, you're likely to see underperformance both in that term and after."

He believes that right now is all about getting exposure to assets that could become an integral part of crypto in five years, he said, which means going heavy into bitcoin (BTC) and ethereum (ETH) for the most part.

As for altcoins, solana (SOL) has by far the strongest pitch for that going forward, while fantom (FTM) and mina protocol (MINA) are also interesting, he said.

While predominantly long bitcoin, Heusser is also bullish on the Solana ecosystem.

"Drops like what we saw yesterday, where I feel confident that it was one of these washout drops, picking up some altcoins has even more value than trying to buy the dip for bitcoin," he said.

Aside from the solana, Heusser likes the ftx token (FTT), serum (SRM), and star atlas (ATLAS), a crypto game built on the solana blockchain. 

IntoTheBlock's Outumuro said he believed that it was probably better for investors to have higher bitcoin allocations until the volatility settles.

"The only few altcoins that may continue to do well near term are smart-contract platforms with current incentive programs such as avalanche (AVAX), fantom, and celo (CELO) given that they are seeing increased usage and total value unlocked and may follow solana's path," he said.

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Cryptocurrencies have grown in popularity over the last several years all around the world. People’s interest in cryptocurrencies has grown as a result of their success. However, as more individuals enter the crypto world, it’s becoming increasingly important to distinguish between these cryptocurrencies and what they represent. Altcoins and stablecoins are two of the most popular cryptocurrencies. The differences between stablecoins and altcoins are mentioned below.

Even though cryptocurrencies have acquired global acceptance, many individuals are wary of jumping on board due to the market’s volatility. Stablecoins were created to address the restrictions that excessive volatility and price variations imposed on cryptocurrencies. Stablecoins imitate the characteristics of fiat currencies such as the dollar, the pound, and the South African rand, among others. Stablecoins are distinguished by their relative price stability, which facilitates global transactions. By being pegged by reserved assets, stablecoins can achieve price stability. Stablecoins like Tether (USDT), for example, are linked to a fiat currency in a 1-1 ratio.

Since the launch of bitcoin in 2009, many cryptocurrencies have emerged, including Ethereum, Ripple, Litecoin, and others. These cryptocurrencies are known as altcoins because they are considered “alternatives to bitcoin”. There are several sorts of altcoins, including mining-based altcoins (like Ethereum) that require a mining process to create further blocks, utility tokens, and security tokens. Altcoins too have a turbulent market and significant price swings.

1. Stablecoins speed up a variety of financial transactions. They have reduced prices. They have no boundaries. They are completely transparent. According to changing requirements, new features might be added to them. Altcoins are generally used as a substitute for Bitcoin. Their purpose is distinct. They provide several options. Transaction costs are lower.

2. A third party is required in stablecoins. External audits are required. There is a lower return on investment. Altcoins have a small user base and fluctuate in value.

Bitcoin's soaring popularity and value since its inception in 2009 is a curious case for many investors. Like the Internet boom, cryptocurrency also took only a few years to become a mainstream topic, and it is growing now more than ever. Many investors, as well as professionals, have made cryptocurrency investment a part of their portfolio. But Bitcoin and other cryptocurrencies, unlike fiat currency, aren't a physical asset. These digital currencies do not follow a centralised system and don't rely on banks. Their transactions happen through a decentralised network of computers.

So, are we investing in anything at all? Or are we just speculating some returns that may happen only in the far future?

In 2018, business magnate Warren Buffett had publicly denounced Bitcoin as not an investment. Three years since, the world has seen a lot happening on the cryptocurrency front. On one hand, there are business giants investing in these digital assets. On the other hand, crypto scams have left wreckage behind them.

We should perhaps stop asking whether buying Bitcoin is speculation. Instead, let us focus on the simple rules to follow in the cryptocurrency market for the ones who would like to turn it into a real investment.

1) Long-term or short-term profits

Speculation is when we are engaging in a risky transaction, hoping for a short-term profit. Instead of being a speculator, become a real investor by focussing on long-term goals. It's a thumb rule not to invest an amount that we can't bear losing. Cryptocurrency risks are as real as they can get. So, we should weigh the risks and goals that suit us best.

2) Cryptocurrency quality

It's better to stay away from flashy and risky projects while buying coins. The promise of a quick profit may often leave us hoping for returns for eternity. But if we want to really invest in a coin, we should check the red flags. Profits may not be as quick, but it'll save us in the long run. Bitcoin price in India has increased manifold since its inception.

3) Diversify holdings

Don't put all the eggs in the same basket. Diversify the portfolio, so that, in case a coin fails in the market, all isn't lost. That's better than stocking up on one cryptocurrency and speculating that things get better. Real investment is when we prudently choose a safe ground in a volatile market.

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Bitcoin (BTC) miners officially produced their 700,000th block on Saturday, marking a major milestone for a network whose detractors claim has died 428 times since 2009. 

It took Bitcoin less than two years to produce 100,000 more blocks after reaching the 600,000 milestone on Oct. 18, 2019. At the time of the last 100,000-block milestone, the BTC price was worth less than $8,000. Today, one Bitcoin is worth over $45,500.

— Pieter Wuille (@pwuille) September 11, 2021

At the time of writing, Bitcoin’s total supply was 18,812,806, or 89.5% of all the coins that will ever be produced. On average, new blocks are generated every ten minutes, though production time is impacted by mining difficulty. Bitcoin’s mining difficulty is adjusted roughly every two weeks, a process that resets how hard it is for miners to mine the digital asset. At the current pace of block production, the final Bitcoin will be mined around the year 2140.

Crypto Twitter celebrated the milestone by quoting the late Hal Finney, one of Bitcoin’s early pioneers and a prime candidate for being Satoshi Nakamoto, the pseudonymous creator of the technology. Finney passed away from amyotrophic lateral sclerosis in 2014.

— Documenting Bitcoin (@DocumentingBTC) September 11, 2021

Bitcoin was programmed to be a self-regulating market with a hard-coded monetary policy that does not depend on any outside parties. Unlike the United States Federal Reserve, for example, which can affect the size and growth rate of the money supply at will, Bitcoin maintains a hard cap on supply and cannot be created without the massive energy input of miners.

While Bitcoin has invited attacks over its environmental footprint, the network’s energy usage is a tiny fraction of total energy consumption. Efforts to incorporate clean energy into the mining process have largely proven to be successful, with some estimates claiming that Bitcoin mining in the United States is more than 50% powered by renewable energy.

— Michael Saylor⚡️ (@michael_saylor) August 11, 2021

Related: Blockstream and Macquarie Group launch Bitcoin mining pilot program

Thanks to Bitcoin, cryptocurrencies have grown to become a more than $2 trillion asset class. Bitcoin’s share of the overall market is 41%, or $857 billion, at the time of writing.

New Delhi: The year 2021 has been the year of cryptocurrencies. As the crypto market saw a major gain in the first half of the year, the craze for the coins kept on increasing. Big companies like Apple, Google, Tesla, Samsung, Facebook, and Paypal have recently included cryptocurrencies in their long-term strategic plans.

A few years back Who would have thought that Bitcoin will touch the $62,000 mark which eventually attracted tons of investors to the market. Some of them were lucky who got onto this fun ride while some are still not able to make their mind.

At this moment the crypto market is in a recovery phase after a huge dump in the past. Bulls are aiming to take full control of the market. So if you are looking to invest in the market for long term then you should consider these coins before they just shoot up.

BITCOIN (BTC)

BTC is the world’s most famous and largest cryptocurrency. Satoshi Nakamoto, who is still anonymous, created BTC in 2009. It is a decentralized digital currency that can be sent from one to another by using a peer-to-peer BTC network without any intermediaries.

It has a supply of 21 million maximum coins and till now more than 18 million have already been mined.

ETHERIUM (ETH)

ETH is the 2nd-largest cryptocurrency by market capitalization and the next generation of blockchain technology that has grabbed eyeballs of the investors. ETH is one of the top contenders for the best cryptocurrencies to buy list for the long term.

Vitalik Buterin and 7 others created Etherium in 2014 and it is one of the largest platforms for decentralized applications also known as DApps. ETH has a bright future and it is expected that it will continue to shine.

CHAINLINK (LINK)

LINK is among the best coins to invest in this year as this project still arouses the interest of retail and institutional investors alike. Chainlink expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.

DOGECOIN (DOGE)

The coin which was just started as a meme cryptocurrency has come a long way. 2021 has been a turnaround year for DOGE. The coin saw an increase of 15,000% which makes it one of the hot cryptocurrencies to buy.

Dogecoin is a direct source of encouragement for all the altcoins who are still trying to prove their existence in the market. Tesla and SpaceX boss Elon Musk’s boost has given a huge push to the token.

DOGE hit a massive rally to touch the $0.74 mark in mid-April which made it surpass Twitter and Ford Motors in market cap.

Bitcoin is the most valuable cryptocurrency on the market, and many investors are starting to notice. 

But taking the first step toward investing might be more confusing than you’d think thanks to another popular cryptocurrency that shares Bitcoin’s name: Bitcoin Cash. These cryptocurrencies are different, despite the name similarities. 

Since experts say you should stick to Bitcoin and Ethereum as long-term investments, it’s important not to confuse Bitcoin Cash and the original Bitcoin. Here is some more basic information on both:What Is Bitcoin

Bitcoin is the first cryptocurrency, launched in 2009 by a pseudonymous figure named Satoshi Nakomoto. Its price has fluctuated over the past year from lows of around $10,000 per coin to highs of more than $60,000. 

Bitcoin was originally intended to be a peer-to-peer electronic cash system that you would use to make payments. However, thanks to slow processing and volatility, “Bitcoin is actually not very easy to use when it comes to payments,” says Kiana Danial, author of “Cryptocurrency Investing for Dummies.” Because of that, Bitcoin’s original intention was pretty much scrapped from the beginning. 

Instead of making payments over the internet using Bitcoin, people bought and held the coins in the hope they would increase in value over time, similar to how some people hold onto gold. 

But a group of Bitcoin users in 2017 wanted to improve Bitcoin’s ability to process transactions, and make it easier to use the cryptocurrency for its original intention as a peer-to-peer electronic cash system. Enter: Bitcoin Cash

What Is Bitcoin Cash

Bitcoin Cash was spurred by a desire for “other crypto assets and cryptocurrencies optimized for actual payments,” says Danial. “Bitcoin Cash literally forked out of Bitcoin for that reason.” 

If a group of developers wants to change an aspect of a current crypto, they can split, or fork, the blockchain it lives on. Forking takes the main code from an existing cryptocurrency, like Bitcoin, and then adds to or alters it slightly so that it becomes its own, separate entity. 

But even though Bitcoin Cash was developed to serve as an electronic cash payments system, it has experienced much of the same volatility that holds back Bitcoin’s potential as a true currency. The volatility is why you should be particularly cautious when using either currency to make payments (in fact, we recommend that you don’t). 

Imagine paying for a $5 coffee with any cryptocurrency, and tomorrow that same amount of crypto is worth $20. That volatility could lead to a loss for you. Plus, while you don’t need to report crypto purchases to the IRS, you do need to report when trading crypto for goods and services, requiring extra diligence on your end. 

[READ MORE]: You Can Buy More Things Than Ever With Crypto. Here’s Why You Shouldn’t

Bitcoin vs. Bitcoin Cash: Which Should You Buy?

Investing experts recommend sticking with the two most well-known cryptocurrencies, Bitcoin and Ethereum, and to pass on other altcoins, including Bitcoin Cash. 

“I personally do not go beyond Bitcoin and or Ethereum,” Michael Kelly, a CFA at Switchback Financial told NextAdvisor recently. “I feel those two have a bit more of an established base and feel the risk of other coins becomes too significant.”

There are thousands of different cryptocurrencies on the market, and most have very little value and uncertain potential for value growth in the future. So even though Bitcoin Cash shares its name, experts say investors should take a pass and stick to Bitcoin.Which is More Valuable: Bitcoin or Bitcoin Cash?

Bitcoin launched in 2009, and has climbed from $0 to over $60,000 during its lifespan, though the ride has been anything but smooth. Just this year, Bitcoin reached its highest price point of all time at just above $60,000, and then rapidly lost 50% of that value in the following weeks. 

Bitcoin Cash has only been available since 2017, but has a similarly rocky price history. It had a high point shortly after it was launched of around $3,785 per coin, though the price has been fluctuating between around $200 and $1600 in the past year. 

In either case, it’s also important to remember that Bitcoin and Bitcoin Cash only have value because people think they do. Cryptocurrencies are not tied to any other asset class or company, making them highly speculative and volatile — all part of the reason why you should never invest more than 5% of your total portfolio into cryptocurrency and only invest what you’re OK with losing. 

How to Buy Bitcoin or Bitcoin Cash

While experts say investors should stick with Bitcoin, the process for buying either is essentially the same:

You can’t purchase cryptocurrency through a traditional brokerage or your bank, so you’ll need to access a specific cryptocurrency exchange like Coinbase or Gemini.Fund your account: You’ll need to connect your bank account or debit card to transfer funds into your chosen cryptocurrency exchange. Place an order: Once your payment method is in place, place your order. You can designate how much you’d like to buy in either USD or in crypto. Most people will likely be purchasing fractional shares of a single coin, since they are so expensive. Store your crypto: For smaller amounts of crypto, you can keep it directly in your exchange. But a crypto wallet will provide more security if you have large amounts of crypto and want the extra security that can come with it. 

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Ico, one of the most celebrated games of all time, turns 20 years old today. It’s just a shame that one stupid, no good, very bad mistake managed to sabotage Ico’s launch and overall success in the U.S., gutting sales and transforming a pioneering, sure-fire blockbuster into a mere cult hit. 

Initially released on the PlayStation 2 in the U.S. on September 24, 2001, Ico pushed the boundaries of narrative storytelling for the young console, which was yet to celebrate its first birthday in the west when the game dropped.

As the debut for developer Japan Studio, Ico sought to turn the tried-and-tested third-person action-adventure format on its head. Through so-called “subtractive design,” traditional barriers in immersive storytelling were removed, paring the experience down to a simple, straightforward escapade that captivated players through its gorgeous art style and magical world.

Ico offered a familiar yet intriguing story, conceived in the late 90s and refined throughout the game’s four-year development. It leaned heavily on classic fairytale tropes: you assumed the role of the titular boy–a young outcast who escapes captivity–who meets Yorda, who you escort away from an evil queen that hopes to use Yorda’s youth to restore her own.

With next to no dialogue, a complete lack of a HUD, and just a single type of enemy to deal with, Ico allowed gamers to lose themselves in its believable yet dream-like fantasy land, distracting them from what really was a game-long escort mission; the game was, and still is, so beautiful that you simply forgot. It was an artistic triumph.

Not that you’d know any of this when the game hit the shelves in North America, because the US artwork carried nothing of the sort, stripping back everything beautiful and nuanced about the game itself. As far as covers go, it’s right up there with the infamous NTSC release of Mega Man.

Those walking past shelves in GameStop or Toys “R” Us in 2001 probably assumed it was the story of a Viking child who lived in a windmill and attacked passers-by with a piece of two-by-four, while his dispassionate mother looked on, waiting for the sweet release of death.

Speaking at the DICE Summit Asia in 2009, Yasuhide Kobayashi, who served as Sony Japan Studio’s vice-president at the time, explained: “If the packaging was designed differently, we think it would have sold more. In fact, on the internet, many people have said that the Japanese version was better.”

Making up for lost ground in the NTSC market, Ico’s success went on to influence so much more in the years that followed. Its spiritual successor, Shadow of the Colossus, managed to get a PS3 remaster and a full PS4 remake, underlining the game’s timeless beauty and brilliance; The Last Guardian continued to carry the torch in 2016.

Most importantly, Ico had a profound effect on the development of FromSoftware’s Demon’s Souls, which Japan Studio oversaw–and was also remade, to critical acclaim, last year. Meanwhile, creators as diverse as director Guillermo del Toro, Halo’s Josh Holmes, Naughty Dog’s Nate Wells, and Fez’s Phil Fish have celebrated the two-decade-old masterpiece.

We are experiencing the next frontier of digital assets with a peer-to-peer system called Bitcoin, founded in 2009 by Satoshi Nakamoto and various brave internet visionaries. Today, bitcoin and cryptocurrency have taken over the financial market space. The next generation of internet investors are flocking to this metaverse called Web 3.0 to build and create wealth beyond our wildest imaginations.

At this year’s Root Institute, we brought together some of the leading voices educating and inspiring our community to embrace modern finance as a means to build residual income and opportunity. In this emerging entrepreneurship and fintech panel, we were joined by Lamar Wilson, Founder of Black Bitcoin Billionaire, Olayinka Odeniran, Founder of Black Women in Blockchain Council, and Teri Ijeoma, Founder at Trade and Travel platform.

When we talk about Bitcoin and the Black community, there’s no denying how underrepresented we are in the Web 3.0 space. At yet, surprisingly, a recent Harris poll survey released in August 2021 found that 30% of Black and 27% of Hispanic investors own cryptocurrencies, compared with just 17% of White investors. This same Harris survey found that the majority of crypto investors are under 40 and do not have college degrees; two-fifths are women and/or investors of color. Cryptocurrency and token project’s main appeal to underrepresented groups is that it is a more accessible financial investing option with faster returns.

This is the precipice of the new creator economy, a currency for the internet, and the booming NFT (non-fungible token) market. The idea is that creators can sell their art on the Ethereum, Solana, or Polygon blockchains as a smart contract and get paid in minutes. An opportunistic investor can then relist the art they bought from the creator for a higher price with the creator founder’s fee attached to the value of the art to make residual income.

For Black creators, this is huge when it comes to making a living off of your passions, but the concept still involves various moving parts that even the government is trying to grapple with. Moreover, we must not ignore the volatility of Bitcoin and its negative representation of being the currency for online scammers and hackers.

One thing to take away from this panel is the need for Black people to build and be a part of the teams ( or DAOs) innovating within the blockchain and Web 3.0 sectors. If this is your first time hearing about bitcoin, cryptocurrency, or blockchain, welcome! The power of blockchain and the concept of decentralized and open-source platforms can have a positive influence and impact on our communities if we take facets of the technology and apply them to real-life issues, like generating wealth and equity, or much bigger problems like solving world hunger.

For access to free training on blockchain, you can sign up on www.bwbc.io. To learn more about the NFT space, read my Crypto in the City column here. To join a community of bitcoiners, check out BBB here. To develop an investment strategy, check out Trade and Travel here.

For this and more in-depth conversations, visit us here, and share your thoughts with us online in social media by following the hashtag #RootInstitute.

Disclaimer: This panel is not financial advice. Please do your own research.

The end of the year promises to be eventful for cryptocurrencies.

Since its launch in 2009, Bitcoin, the spearhead of cryptocurrencies, has grown from a handful of cents to several thousand euros. Some players are campaigning for its introduction in the Principality, whilst others, on the contrary, are opposed to the idea.

So what’s the latest on the little golden coin and its companions, Ethereum, Dogecoin and co, in the Principality? Here are some key dates to find out whether or not you will be able to pay for your business lunch in cryptocurrencies in the near future.

The National Council passed the first ever law to lay the foundations for the technology used to create cryptocurrencies: blockchain. This Law No. 237 specifies the terms of blockchain, establishes a three-year test period and creates the Monegasque Blockchain Authority (AMB). The trial period is to be used to promote blockchain-based projects, with the AMB in charge of supervising it all. The aim is to develop this new sector of activity in the Principality.

The test period is still ongoing, Bill No. 995 is coming and aims to strengthen the 2017 law with the introduction of a token offering scheme, called Initial Coin Offerings (ICOs). The bill remains pending.

Bill No. 1482 was passed in the National Council with a focus on “establishing a climate of trust in the online environment”. One part of this law is devoted to the security of digital exchanges: the legal framework of cryptology means (i.e. any hardware or software used to encrypt data) is modified.

Bill No. 1491 concerning STOs “Security Token Offerings”, i.e. token offerings, is passed. This law is particularly interesting as it follows directly from the June 2019 project on ICOs. A legal framework has been established allowing certain Monegasque companies, under certain conditions, to raise funds in tokens. The objective for the Monaco Government? To attract digital companies.

Finally, at the end of the year, a second law is planned, which will probably be the kick-start the Principality needs to unlock cryptocurrency trading. The latter is expected to regulate trading platforms, known as “DASPs” – Digital Asset Service Providers, and to strengthen the security of trading on them.

These laws provide a legal framework for blockchain technology, which is used to create cryptocurrencies. Nevertheless, the precise use of these remains very unclear, and the credit card will (unfortunately?) still be needed to pay for lunch.

>> READ MORE: Blockchain: is Monaco at the start of a new era?

>> READ MORE: Frédéric Genta: “We will use blockchain without really being aware of it”

>> READ MORE: Jean-Philippe Claret, paving the way for the blockchain revolution

>> READ MORE: Franck Julien (Monaco’s National Council): “Blockchain offers infinite possibilities”

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Cryptocurrencies saw a slow start this year, mainly due to a Reserve Bank of India (RBI) order to banks telling them not to deal in crypto. The cryptocurrency trade accelerated after the Supreme Court in March reversed the RBI ban and allowed trading in coins such as Bitcoin, Ethereum, Dogecoin, and others. Since then, several online exchanges such as CoinSwitch Kuber and CoinDCX have flourished. But investing in these virtual assets require due diligence, given the extreme volatility of most cryptocurrencies. One way to do that is by looking at historical data of these coins.

How cryptocurrencies have behaved in the past few weeks and months can give an idea of their potential in the near future and whether a person should invest now or wait.

Here's how the top 5 digital coins have behaved so far since the start of this financial year (stating April 1):

Bitcoin

Bitcoin is the oldest cryptocurrency in the world. Since its launch in 2009, it has remained an undisputed leader of the cryptocurrency market. On April 1 this year, it was trading around Rs. 42 lakhs but by May-end, around the time the market crashed massively because of a Chinese crackdown on mining operations, it hit a low of Rs. 22 lakhs. Bitcoin has, however, recovered. On September 17, it was trading around Rs. 37 lakhs.

Ethereum

Experts say this is the only virtual currency that has any chance of challenging Bitcoin's dominance, but it is far from realising its true potential. At the beginning of this financial year, Ethereum was trading at Rs. 1.40 lakhs. By early August, it breached the Rs. 2-lakh barrier. This was the time when the Ethereum blockchain had the major London upgrade. Since then, it has continued to gain in value. On September 17, at the time of writing, it was trading at Rs. 2.76 lakhs.

Cardano

Launched in 2017, Cardano is a relatively new cryptocurrency coin that has jumped the queue to find its place in the top five. Billed as a third-generation blockchain (Bitcoin and Ethereum being the first and second generations, respectively), Cardano gave returns of almost 150 percent in just one month. On July 20, it was trading at Rs. 79.71 but by August it had reached a high of Rs. 191.41. It registered more gains in the next few weeks, reaching an all-time high of Rs. 227 at the start of this month. But the gains have started to taper off since then. On September 17, at the time of writing, it was trading at Rs. 187.82.

Tether

Tether is a stablecoin pegged to the US dollar. Being the first one, it is the most popular stablecoin. Since it is pegged to the dollar, meaning every Tether coin should be backed by actual dollars in the reserves of Tether Limited, it is highly stable in comparison to other cryptocurrencies. If this stability is predictable, it also curbs the possibility of boosting wealth quickly. It has remained within the Rs. 73–75 range this financial year. It was trading around Rs. 77 on September 17.

Ripple

It's the fifth-placed cryptocurrency in terms of market capitalisation. Technically speaking, Ripple is not a cryptocurrency. It facilitates open-source payments and XRP is the cryptocurrency that runs on this network. Its price has doubled since April 1, from Rs. 41 to Rs. 80 now. But it has not seen a rally similar to that in late 2017 took it to its all-time high of Rs 242 in early January 2018. At the time of writing, it was trading around Rs. 84.

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The United States Securities and Exchange Commission, or SEC, has charged a cryptocurrency issuer for “making materially false and misleading statements” in connection with an unregistered security offering conducted between August 2017 and January 2018, offering further evidence that regulators were still targeting initial coin offerings from the last major market mania. 

Loci Inc., the platform behind LOCIcoin, and CEO John Wise were formally charged on Tuesday. The SEC claims that Loci and Wise misled investors about the company’s revenues, employee numbers and user base during the $7.6 million crowdsale. The regulator also alleges that Wise misused $38,163 in investor proceeds for personal expenses.

“Loci and its CEO misled investors regarding critical aspects of Loci’s business,” said Kristina Littman, the head of the SEC Enforcement Division’s cyber unit, adding:

“Investors in digital asset securities are entitled to truthful information and fulsome disclosures so they can make informed investment decisions.”

The order also requires that Loci and Wise pay a $7.6 million civil penalty for their transgressions.

Handing out penalties to cryptocurrency businesses is nothing new for U.S. authorities. Regulators from the SEC, Commodity Futures Trading Commission and Financial Crimes Enforcement Network have imposed fines of more than $2.5 billion on cryptocurrency-related businesses since 2014, underscoring the murky regulatory climate surrounding digital assets.

Elliptic Enterprises, a blockchain analytics firm headquartered in the United Kingdom, reported Tuesday that the $2.5 billion in penalties covered a broad range of infractions, including fraud, the selling of unregistered securities and a failure to uphold Anti-Money Laundering regulations.

The SEC accounted for the lion’s share of the penalties at $1.69 billion. The CFTC imposed penalties of $624 million and FinCEN slapped crypto businesses with $183 million in fines. The Office of Foreign Asset Control handed out the smallest fines among the regulators at $606,000.

Cryptocurrencies have been described by many as the wild west of finance. Tens of thousands of crypto-centric projects have launched in the wake of Bitcoin’s genesis block in early 2009. Many of these companies got their start in 2017 during the height of the initial coin offering boom.

Related: With US regulators handing out $2.5B in fines since 2014, crypto is not the 'wild west' of finance

ICOs allowed crypto startups to raise millions of dollars without having to meet the stringent regulations of more traditional security offerings. ICO funding reached the tens of billions in 2017 and 2018 combined, attracting unwanted attention from securities regulators. The SEC successfully charged the founders of several crypto companies, which effectively put an end to the mania — in the United States, at least.

A move by China’s central bank to criminalize all forms of cryptocurrency trading – effectively making bitcoin illegal in the country – has failed to meaningfully impact the price of the world’s leading digital asset.

The clampdown came one day after Twitter announced that its 330m active users will soon be able to send bitcoin to each other instantly and for virtually zero cost – harnessing the Lightning network that’s been built on top of bitcoin’s primary layer and, many believe, will propel the cryptocurrency into the mainstream.

One bitcoin was worth $42,666 on the Bitstamp exchange at 16:00 EST Saturday, holding above its long-term moving averages and surpassing its value at the beginning of August.

The digital currency briefly dipped below $40,700 on Friday, when the so-called People's Bank of China – a Communist government-controlled central bank – declared that all cryptocurrency-related activities were “strictly prohibited” in the country. Beijing accused the cryptocurrency industry of “disrupting economic and financial order” and “endangering the safety of people's property”.

Bitcoin was launched in 2009 as an open-source monetary network that uses blockchain technology to create a secure form of digital cash entirely outside the control of central banks.

China was initially tolerant of the technology, but its opposition has grown in recent months.

In June, the authoritarian government banned local banks from enabling cryptocurrency transactions and outlawed the energy-intensive practice of bitcoin mining, in which specialist computers are put to work solving complex problems in a race to earn newly minted bitcoins.

That clampdown triggered a 20% crash in bitcoin’s price, yet the latest, more draconian measure has moved the needle by less than 5%.

Bitcoin was almost completely unchanged on Saturday, having found strong support at its 200-day exponential moving average.

And while mainstream media outlets like the BBC, Sky News, The Times and The Guardian rushed to report on the negative developments in China, news coverage of the positive adoption by Twitter  was almost entirely restricted to financial outlets like Bloomberg and CNBC.

Twitter began integrating the Strike bitcoin Lightning wallet with its platform last week, enabling users to send and receive bitcoin as easily as tweeting out a thought.

The launch may have been largely ignored by the media, but its significance is hard to overstate. Critics of bitcoin have long argued that the cryptocurrency can’t be scaled for mass adoption because of its high costs and slow processing times. Average transactions on bitcoin’s primary layer typically cost around $8 and take about 20 minutes to be validated, although fees and timeframes vary in-line with network demand.

Lightning solves this problem by processing transactions off-chain through a secondary layer that can, in theory, handle millions of payments a second (Visa, by comparison, processes about 1,700 payments a second).

Users interact with the Lightning network through purpose-built mobile wallets such as Strike and Muun. In El Salvador, which formally recognized bitcoin as legal tender this month, citizens are already making micro-payments for coffees and newspapers with their national Lightning wallet, Chivo.

As Strike founder and CEO Jack Mallers explained in a Twitter video announcing the launch: “We just made an instant, free remittance payment, from Chicago, Illinois, USA to San Salvador, El Salvador over Twitter. Why would anyone ever use Western Union again? When you take one of the world's largest social internet networks and you combine it with the world's best open monetary network, Twitter accidentally becomes one of the best remitting experiences in the world.”

Given the lack of media attention, it’s no surprise that Lightning accounts for a tiny fraction of the bitcoin network today: less than 3,000BTC is currently locked in the protocol. But its capacity has risen steadily this year and is likely to surge as Twitter completes the integration for all users over the coming weeks.

China is, undoubtedly, worried about bitcoin – but not because of money laundering, phishing scams or economic destabilization.

China is worried because bitcoin gives its citizens the freedom to teleport their wealth around the world instantly at the click of a button – side-stepping the short-sighted, arbitrary capital restrictions that Beijing is no doubt planning in response to the Evergrande debacle.

If recent price action is anything to go by, their concerns are well-founded. A global superpower just declared war on bitcoin... and the market barely even noticed.

…

Stocks represent a percentage of a business. They stand as a company’s value and change their price range based on the organization’s performance in the market. On the other hand, cryptocurrency is a digital asset that has made its debut in 2009 through the famous bitcoin. It can be stored and traded digitally. The value of a cryptocurrency varies based on its market demand, supply, and adoption. For many years, people were confined to the stock market investment models. But the recent emergence of cryptocurrency and bitcoin’s price has attracted or moreover, redirected many investors to try their hand on the digital currency market. Unfortunately, that doesn’t hide the fact that the cryptocurrency sphere is very volatile and carries potential risks. While bitcoin has been in the headlines in May for reaching the record US$60,000, within a month, it almost touched the death cross. The stock market is no different. During the early days of the pandemic, S&P 500 has lost over one-third of its value. Therefore, to investors who want to pick the right investment model, the confusion between cryptocurrency vs stocks remains unsolved. Analytics Insight has aimed to decrypt some of the hidden similarities and differences between cryptocurrency vs stocks to make it easier for investors.

The cryptocurrency market has opted for a digital model of functioning since the very beginning. But the story is completely different for the stock market. Initially, financial guides or brokers used to take money from investors and add them to the stock market. Fortunately, the scenario has changed when the stock market also through a complete transformation. Today, both cryptocurrency and stocks can be accessed through the digital exchange, brokerage account, mobile application, or other online platforms. Besides, they also offer a similar kind of user experience in terms of layout, trading options, and order-book-based liquidity mechanism.

Retail trading options open the door to general trading orders like a market order, limit order, and stop (or stop-loss) order. Even though both cryptocurrencies vs stocks might look similar from the buying and selling point of view, they have underlying differences that need to be addressed.

While cryptocurrency and stocks are both types of investments, they individually carry certain functionalities that make them different from the other. When you buy a stock, you are directly investing in a particular company that you believe will bring growth. On the other hand, you just buy tokens of a certain cryptocurrency to either use them as a digital investment portal or even trade them as payment.

Cryptocurrency maker and stock distributor: One of the reasons for cryptocurrency’s undying popularity is its independent and decentralized nature. Owing to its leniency, anybody can become a miner and try getting their hands on bitcoin. Besides, other cryptocurrencies like Dogecoin were literally born out of bored programmers who wanted to mock the meme. It is completely different for the stock market. Stocks need to be created. They have to be cleared by government agencies and should also be audited.

Stocks are encrypted from hacks while cryptos are not: As mentioned above, the stock market is widely regulated by government agencies and goes through complete yearly auditing. Due to its heavy scrutiny, there is little chance that stocks could be rigged or fraudulent. On the other hand, it is completely different for cryptocurrencies. Because of their decentralized nature, digital currencies are unregulated and prone to fraud. A simple cryptocurrency scam could make you lose all your digital assets.

The void in ownership rights: Stocks are seen as an ownership right. Similar to voting and citizenship card, stock ownership doesn’t change until the owner prefers to sell the stock. When he or she invests in stocks, they are allocated with a percentage of ownership in the company. In the digital currency market, you are allocated with tokens like Ethereum, bitcoin, etc. when you invest in it. They do not represent a legal stake in the organization that issued them.

The difference in transaction fees: Whenever you buy a new stock, even for a very less amount, you are bound to pay a transaction fee. While it is convincingly okay for large investments, transaction fees on small investments will eat up your profits from the stock. But trading cryptocurrency could be remarkably rewarding as it comes with low exchange fees. However, the transaction and gas fees vary based on the crypto exchange you opt for.

Intrigued by the boundless opportunities to get rich by investing in the crypto currency world, but don't know how or where to begin your investment journey because it all sounds like Greek and Latin?

A good place to start would be to get acquainted with some of the basic terminology and jargon involved if not all, right off the bat.

You might've already heard some of these terms in common parlance; but when used in the crypto context, the meaning and value it carries might leave you surprised.

More on Crypto 101:

Everything you need to know about Bitcoin in 2021

Bitcoin, Ethereum: Which cryptocurrency is right for me?

Understanding Blockchain: What are smart contracts?

While there are hundreds of associated terms which can't all be decoded in one go, bear in mind the fact that learning even a few of these terms can serve as a guiding light to your pot of gold or crypto treasure.

Here's our first instalment of basic crypto-related terminology for you to get a better understanding:

A type of currency that’s digital and decentralised. It can be used to buy and sell things, or as a long-term store of value.  

The principle of distributing power away from a central point is known as decentralisation. Blockchains are traditionally decentralised because they require majority approval from all users to operate and make changes, rather than a central authority as in the case of a banking system of a country. 

A system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

A blockchain is a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains several transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger.

The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT).

Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash.

On cryptocurrency blockchains, blocks are made up of transaction records as users buy or sell coins. Each block can hold only a certain amount of information. Once it reaches that limit, a new block is formed to continue the chain.

When a transaction has been verified and needs to be added to a block in a chain, it will be put through a hash algorithm to convert it into a set of unique numbers and letters, similar to what would be created by a random password generator. 

Then two transaction hashes will be combined, and put through the hash algorithm to produce another unique hash. This process of combining multiple transactions into new hashes continues until finally there remains just one hash – the ‘root’ hash of several transactions.

What makes hashes unique, and a key security feature for blockchains, is that they only work one way. While the same data will always produce the same hash of numbers and letters, it is impossible to ‘un-hash’, or reverse the process, using the numbers and letters to decipher the original data.

(This essentially means that while you can carry out a crypto transaction to transfer a certain amount from A to B, you cannot reverse the transaction from B to A in the case of an incorrect transaction; as would be possible in the case of a bank transaction)

A place to store your cryptocurrency holdings digitally. Crypto wallets keep your private keys – the passwords that give you access to your cryptocurrencies making them safe and accessible, allowing you to send and receive cryptocurrencies like Bitcoin and Ethereum.

They come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps which makes using crypto as easy as shopping with a credit card online.

The first and most valuable cryptocurrency, launched in 2009 when its implementation was released as open-source software. Bitcoins are created as a reward for a process known as mining.

They can be exchanged for other currencies, products, and services, but the real-world value of the coins is extremely volatile. While its value has climbed steadily since 2009, it has witnessed fierce fluctuations.

Also read: Bitcoin price crashes 10% on first day as legal tender

The term crypto mining means gaining cryptocurrencies by solving cryptographic equations through the use of computers.

This process involves validating data blocks and adding transaction records to a public record (ledger) known as a blockchain.

WATCH BELOW: Inside Australia's largest Bitcoin mining operation

Any coin which is not a Bitcoin is an altcoin. Altcoins are alternative cryptocurrencies that were launched after the success of Bitcoin. They generally project themselves as better replacements for Bitcoin. Bitcoin's emergence as the first peer-to-peer digital currency was paving the way for many to follow.

Most altcoins are trying to target any perceived drawbacks that Bitcoin has and come up with competitive advantages in newer versions. 

The term 'altcoin' is a combination of two words: 'alt' and 'coin' where alt means 'alternative' and coin means 'cryptocurrency'. Together they imply a category of cryptocurrency, which is an alternative to the digital Bitcoin currency. 

After Bitcoin's success story, many other peer-to-peer digital currencies have emerged to try to mimic that success. Altcoins, even with many overlapping features, vary widely from one another.

Read more: The 5 most popular altcoins investors are buying

Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. The most popular exchanges are currently Binance and GDAX.

It is important not to confuse cryptocurrency exchanges for cryptocurrency wallets or wallet brokerages. Cryptocurrency wallets and wallet brokerages generally allow you to buy and sell a small range of popular digital assets (Bitcoin and Ethereum), which you can then send to a different exchange to trade for other digital assets like altcoins.

However, most cryptocurrency exchanges will usually limit their users to only trade digital assets for digital assets, but a few allow trades of fiat currencies such as US dollars for cryptocurrencies.

Fork

When a blockchain’s users make changes to its rules it is known as a Fork. These changes to the protocol of a blockchain may result in two new paths, one that follows the old rules, and a new blockchain that splits off from the previous one (example: a fork of Bitcoin resulted in Bitcoin Cash).

Blockchain forks are essentially a split in the blockchain network. The network is an open source software, and the code is freely available.

This means that anyone can propose improvements and change the code. The option to experiment on open source software is a fundamental part of cryptocurrencies, and also facilitates software updates to the blockchain.

Forks occur when the software of different miners become misaligned. It’s up to miners to decide which blockchain to continue using. If there isn’t a unanimous decision, then this can result in the creation of two versions of the blockchain. There can be periods of increased price volatility around such events.

Read next | Diversification: Is there a magic ratio for crypto investing?

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New Delhi: The year 2021 has been the year of ups and downs for cryptocurrencies. As the crypto market saw a major gain in the first half of the year it also saw some heavy dumping during this time. But it can be said that the craze for the coins has been kept on increasing.

Gainst like Apple, Google, Tesla, Samsung, Facebook, and Paypal are ready to get into the market as they all have announced their long-term strategic plans related to cryptocurrencies.

Who would have thought that Bitcoin will touch the $62,000 mark? and altcoins like ETH, DOGE, and SHIB will attract tons of investors to the market.

As we all know that there are 2 two sides to every market and crypto has its too. The Crypto market is very volatile where you can witness large swings or a sudden fall with no notice and this the reason that people find it very risky.

The Crypto market is still under a recovery phase as it has seen multiple dumps in the past few months. Bulls are trying to take full control of the market and if you are ready to invest for the long term then here are the coins you should consider before they just shoot up.

BITCOIN (BTC)

BTC is the world’s most famous and largest cryptocurrency. Satoshi Nakamoto, who is still anonymous, created BTC in 2009. It is a decentralized digital currency that can be sent from one to another by using a peer-to-peer BTC network without any intermediaries.

It has a supply of 21 million maximum coins and till now more than 18 million have already been mined.

ETHERIUM (ETH)

ETH is the 2nd-largest cryptocurrency by market capitalization and the next generation of blockchain technology that has grabbed eyeballs of the investors. ETH is one of the top contenders for the best cryptocurrencies to buy list for the long term.

Vitalik Buterin and 7 others created Etherium in 2014 and it is one of the largest platforms for decentralized applications also known as DApps. ETH has a bright future and it is expected that it will continue to shine.

CHAINLINK (LINK)

LINK is among the best coins to invest in this year as this project still arouses the interest of retail and institutional investors alike. Chainlink expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.

Cardano (ADA)

Cardano is a research-based cryptocurrency made by engineers, mathematicians, and cryptography experts. Charles Hoskinson who is one of the five initial founding members of Ethereum cofounded this project.

ADA aims to be the world’s financial operating system similar to Ethereum as well as providing solutions for chain interoperability. As of now, Cardano has a market capitalization of $69 billion and it costs $2.07

Litecoin (LTC)

Launched in 2011, Litecoin was among the first coins to follow Bitcoin. It has also been referred to as “silver to Bitcoin’s gold.” Created by Charlie Lee, an MIT graduate and former Google engineer, the coin is based on an open-source global payment network, controlled by any central authority.

LTC is like BTC in many ways as it has a faster block generation rate providing faster transaction confirmation time. As of now, LTC has a market capitalization of $12.1 billion and tokes in now worth $180 taking it to the top 5 crypto in the world.

DOGECOIN (DOGE)

The coin which was just started as a meme cryptocurrency has come a long way. 2021 has been a turnaround year for DOGE. The coin saw an increase of 15,000% which makes it one of the hot cryptocurrencies to buy.

Dogecoin is a direct source of encouragement for all the altcoins who are still trying to prove their existence in the market. Tesla and SpaceX boss Elon Musk’s boost has given a huge push to the token.

DOGE hit a massive rally to touch the $0.74 mark in mid-April which made it surpass Twitter and Ford Motors in market cap.

Uniswap (UNI)

Uniswap empowers developers, liquidity providers and traders to participate in a financial marketplace that is open and accessible to all.

Polygon

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.

EOS

EOSIO is a highly performant open-source blockchain platform, built to support and operate safe, compliant, and predictable digital infrastructures

IOTA

IOTA has fundamentally reengineered distributed ledger technology, enabling secure exchange of both value and data, without any fees.

In the midst of the current cryptocurrency craze, it’s hard to remember a time when Bitcoin wasn’t a known name.

Yet, in all actuality, when Bitcoin was created in 2009, on the heels of an economic recession, it wasn’t, and how were its investors ever meant to predict the phenomena it would create?

Certainly, Laszlo Hanyecz didn’t, when in 2010 he used his 10,000 bitcoins (BTC), which then roughly equated to $41, to purchase a Papa John’s pizza.

Now, it may be easy, with hindsight, to disbelieve why Hanyecz would ever give up such a vast virtual asset, but the truth in the matter is, no one then could have foreseen the momentous future cryptocurrency had in store.

However, what Hanyecz’s story does offer, is the lesson that we never know when the next cryptocurrency boom is going to happen, but now, in the wake of a new recession, a new coin rises to the ranks that have started to gain cryptocurrency curious investors’ attention – that coin is Crypto Stake. 

Crypto Stake is a unique development geared towards the future of sportsbook betting and casino games: creating a lucrative opportunity for investors to get involved in a globally accessible, decentralized gambling platform.

Unlike the new cryptocurrencies predecessors, Crypto Stake has emerged to the market with an unrestricted ecosystem, granting Crypto Stake Token (CST) holders the ability to access limitless, worldwide events and games by way of blockchain technology incorporated into the system.

These events and games are including but are not restricted to horse racing, football, boxing, basketball, roulette, blackjack, and baccarat.

Despite the obvious hard work, Crypto Stake has put into offering an advantageous CST holder experience, they have clearly not compromised on the importance of the token’s security and holder transparency.

They assure all casino-style games using Random Number Generation (RNG) will be done using blockchain technology. 

CST entered the market designed with the specific intention to maximize its holder’s potential personal profit. It does this by offering increased betting odds, CST transactions to keep demand high to maintain good exchange prices.

This also involves evolved AI that expeditiously processes any winnings and an exchange platform that offers a streamlined method to easily transfer any funds to any wallet at any time.

The only way to get involved and receive these perks will be through owning CST, which can easily be done through the ecosystems exchange, where CST can be bought with fiat currencies or any of the cryptocurrencies currently in the top 100 Coin Market Cap list.

Crypto Stake is focused on constantly evolving, with a goal to create a brand-new era of online gambling. In their mission to do so, they promise, not only to always endeavor into consistent expansion and technological advancement but also to get its members involved on their way up; awarding any members who refer active users with CST, through its referral program.

Not only that but as a gift from Crypto Stake to celebrate CST members, airdrops are given to all of its investors based on 3% of their investment value. 

Lastly, all CST are available to purchase on the Crypto-Stake.org website, using USDT sent on either TRC-20. ERC-20 and BEP-20 blockchain networks. On September 20, 2021, Cryptocurrency Stake begins issuing their ICO, which will be divided into 10 rounds – each increasing in price by $0.05.

Now, you can collect as many CST as you want now until the pre-sale is fulfilled, but remember, only two million tokens are available each round.

So, once the investing is finished, the trading begins – don’t let it be you that misses out on the next big cryptocurrency boom and becomes part of Crypto Stake’s journey to the moon.

About cryptocurrency stake token

Crypto Stake Token is an essential part of the future sportsbook and casino games ecosystem. CST is used as the exclusive digital currency on the platform for increased betting odds, both for sports bets and casino games. Players worldwide can profit when using Crypto Stake Token to place their bets.

For more information about the only way to place bets and receive enhanced betting odds, visit the website.