Category: Bitcoin

The massive growth of cryptocurrencies has attracted the attention of several regulatory authorities in the wrong way. The Chinese government is not too keen on promoting cryptocurrencies in the near future. However, the decentralized model of this industry can help it to survive such a crisis in the long run.

Elon Musk supports crypto

Talking to the outlookindia at a tech conference in California, the CEO of Tesla, Elon Musk, expressed his support for the crypto industry. He said that it might be impossible for the regulatory authorities to destroy the crypto industry completely. However, he added that the government agencies might be able to slow down the growth of the crypto sector for a few more years.

Power shortage in China

Meanwhile, there are reports emerging that the recent crackdown on the crypto industry in China has got to do with the power shortage in the country. As the demand for power has grown abnormally in recent months, there are speculations that crypto-mining could be the reason for such activities.

The power generation issues continue to haunt China in a big way as the growth has been steady in recent years. Apart from that, the country was also severely affected by the health crisis in the last few years. All these events meant that new power plants were not able to start power generation as per their expectations. The last few weeks have seen a huge demand for power in parts of South China. The authorities suspect that massive crypto mining operations may be the culprit in this situation.

Elon Musk, on the other hand, believes that it is best for the authorities to not worry about regulating the crypto industry. As the entire sector works in a decentralized manner, it is likely to take away power and control from the hands of the government agencies. For this reason, many regulatory agencies are not too keen on the growth of the crypto industry.

Since 2013, Michael Schmid started his Bitcoin journey with Bitcoin core, mined a few BTC, and bought some Bitcoin from MtGox. Since then, he frequently has had his fair share of profits and losses.

Fast forward to 2020, Schmid got into the BTC industry as the endless money printing hassle troubled him. According to him, BTC should be a global reserve company and a store of value.

He went back to the BTC mining rabbit hole and started building his knowledge again as he left a few years back. Starting from the basics to the ASICs, Antminers and other elements. He wrapped it all whatever he had left from.

According to him, it was better to “replace a resistive heater over a bitcoin miner as the former one not only turns electricity to heat but will also generate BTC even further.”

He bought an S9 from a friend and started mining it instead of the space heater to heat his office. The results were affirmative, where he finally discovered this winning combination!

He would solve valid BTC blocks in his portfolio and reap the best rewards while working and living in his warm and comfy space. Apart from the regular 9-5, he loves to travel across America in his campervan, an Airstream.

However, in the next step, his heater wasn’t working well, so he started to think about how he could build a complete system and prevent overheating.

This was when he came up with the idea of keeping the caravan warm while mining BTC via solar panels on the roof and the free campsite electricity.

Not only did it solve the intermittent issues of the mining, but it also helped to generate over 0.00006259 BTC per day!

According to him, the more home mining setups around the world, the better it gets as BTC is one of the most lucrative elements most people should try out.

Artane Rizvanolli, the Minister of Economy of Kosovo, has imposed a ban on crypto mining due to the power constraints on the state during the winter season. It was followed with a recommendation from the Technical Committee of the Emergency Measures for Energy Supply as per different reports by the Gazeta Express, a local outlet in Kosovo.

According to the reports, the government made this decision only after the power supply fell below the stipulated level resulting in electricity cuts during the peak hours. According to Rizvanolli, the committee is working towards establishing different supply strategies to combat such power cuts. Based on the committee’s recommendations, they imposed a halt in crypto mining throughout Kosovo’s borders.

According to the reports, the border force will hunt for locations where crypto operations will still be taking place even after the halt. According to them, this halt was only due to the sudden long-term electricity cuts, the shortage of power by the electricity production capacities, and the distribution of the energies.

Due to the meager domestic production and high energy import charges, KEDs, the energy distribution firm in Kosovo, announced that the power outages could be implemented across the country on December 22, 2021. As per a few reports, BTC mining consumes an 8x higher power supply compared to both Google and Facebook combined. This is why, in recent months, the nation has witnessed many power outages, including Iran and Kazakhstan.

On the other hand, the Chinese miners were highly triggered by this ban imposition as most of them were readily relocating after the ban in their nation for cryptocurrency mining. However, Thailand is striving in the market, which the Thai entrepreneurs are taking ample leverage in recent times.

We all know about the exceptionally different opinions of former US President Donald Trump. He has a similar opinion about Crypto. As per many reports, it has been said that Donald Trump is not a big fan of crypto. He has been quite vocal about his dislike for digital currency.

As per the latest report by Fox Business, he opined that investing in crypto could be a disaster waiting to happen. He said that he does not invest in bitcoin or other digital currency. He also added that he likes the currency of the United States.

Trump did not budge from his opinion, and he added that cryptocurrency could hurt the US currency. Thus, instead of supporting the digital currency, he has complete faith in the US dollar. He asked people to invest in US dollars rather than in cryptocurrency.

His attack did not just stop at this, and he said that cryptocurrency might be fake. He said that no one knows what they are, and people should not invest in something that they are not aware of. In an earlier incident, Trump called cryptocurrencies a type of scam. He alleged that crypto was taking the edge and importance of dollars.

This statement by Trump came at a time when cryptocurrency still remains unregulated under US legislation. But, recently, the Securities and Exchange chairman Gary Gensler said that he was in favor of cryptocurrency. As per the statement given by Gary, cryptocurrency is an innovative technology, and he was aware of the associated risks.

In the last few years, cryptocurrency has seen mixed responses from people. While big business people like Elon Musk support digital currency, there are people like Trump who have slammed cryptocurrency on many occasions.

Thus, at present, there is a mixed response about digital currency like bitcoin and other cryptocurrencies.

Nowadays, everyone who is in the field of business and technology knows the term “cryptocurrency”. It is no wonder that most people are entering the crypto market, making and influencing it uniquely. Cryptocurrency has changed the way of traditional trading in the finance sector. The demand and supply of cryptocurrency are increasing day by day. People are choosing to invest in digital assets as there is very little chance of risk.  There are also chances of getting more profits by investing in some of these currencies and hence those who look for an earning opportunity also prefer to have them.

The future of the crypto market is in a safe state as it is growing rapidly. It has become a global phenomenon in the past few years still there are several things which we need to learn about it. Bitcoin Up and other digital assets are available on numerous platforms all over the world.

The main question which many people raise is that, is it safe to invest in crypto? Well, the answer cannot always be yes. You need to do proper research and dig into every resource available online and about every platform before you invest in any kind of digital asset. 

As mentioned earlier, the situation of the crypto market is improving no matter what kind of epidemic or pandemic hits the world. So, if you are planning to invest in digital assets, Bitcoin, and another cryptocurrency, it would be the best option for your future investment. 

Top 10 Cryptocurrency Having Better Future

There are thousands of digital assets available all over the world in the financial market. We have analyzed the eventual growth of all the cryptocurrencies available in the market and discovered the top 10 among them. According to our research, these cryptocurrencies have a better future in upcoming years.

• BITCOIN (BTC)
• ETHEREUM (ETH)
• TETHER (USDT)
• XRP (XRP)
• BINANCE COIN (BNB)
• CARDANO (ADA)
• USD COIN (USDC)
• POLKADOT (DOT)
• UNISWAP (UNI)
• DOGECOIN (DOGE)

Now, according to research, we have found that electronic coins will be the new type of bank’s liability along with cash. Most people are investing in cryptocurrency rather than saving their cash in banks. 

It gives us a clear way to say that a global economy is adopting digital assets most prominently. The demand is increasing day by day, banks and other digital platforms are introducing several crypto assets in the market. There are numerous online as well offline platforms that work as an exchange market for crypto.

After a decade from now, cryptocurrency will be one of the most successful assets and popularized investment among all the sectors of the economy. Non-fungible tokens, digital cash, and many other self-executing codes are altering the future of money in the best way possible. They will win, grow, and survive in the global economy due to their high demand and popularity among investors. Cryptocurrency is a reliable source to invest in for a long-term benefit. 

The bitcoin prices are on a roller-coaster ride, and its price is still fluctuating, but if we see in the longer perspective, it is revealed it is business as usual for the bitcoins. You might be aware of the fact that the bitcoin value dropped up to 17% when the CEO of Tesla car company, Elon musk, complained about the energy usage of the bitcoin in its mining, but the thing is that its price is bouncing again. On a recent Thursday from its own value of $45600, the bitcoin is trading now more than $51000, and it is regaining its value which was lost. With all the prevailing drama, the thing is that on the fundamental level, bitcoin is completely buoyant to the actions of a single person, and it doesn’t matter how influential that person is.

1. The first reason that proves that bitcoin system doesn’t care about what Elon musk says is that the proof of work doesn’t care at all. You need to know that the bitcoin proof of work algorithm always rewards both the bitcoin miners as well the people who are investing their money in it over time because their years of work are the only thing that has made the blockchain network so strong. If we talk about Elon musk, then the proof of work is more significant to the other reason. This means that it doesn’t matter what Musk says about bitcoin. He is providing the good publicity of bitcoin rather than the bad one.
2. Another reason is that the price of bitcoin doesn’t care for anyone. This is because, despite all the words which Elon musk has said about bitcoin, the prices of bitcoin are still increasing. In one of the events, the bitcoin spends more than 2 hours in the dropping before it got reversed back, and it is holding the higher levels for it. The bitcoin analysts are even saying that this kind of dip was also seen in the year 2017. So, there is no need to worry about anything because the price of bitcoin will rise again.
3. Bitcoin consumption also doesn’t care at all about bitcoins. The thing is that once the dust on the Musk tweet of energy consumption of bitcoin settles down, then a great debate will increase on how eco-friendly bitcoin is. In the last week, the CEO of the major bitcoin holder MicroStrategy, Michael Saylor, has also given a public interview in which he said that the lack of the merit inherent in claiming bitcoin is bad for the environment. He said that Tesla stopping the bitcoin for the payment is quite ironic.

eToro is the newest company to suspend XRP trading in the United States. The lawsuit filed against Ripple Labs on the sale of cryptocurrency by the Securities and Exchange Commission.The eToro team quoted the lawsuit in an update as the cause of the suspension but stressed that it only affected its U.S. customers at present. XRP’s purchases on eToro platforms are prohibited and XRP conversions held in an eToro wallet on January 3 are prohibited. Positions must be closed until 24 January.

Users can still hold XRP tokens in the eToro wallet and transfer them on the blockchain to any other wallet. While the move applies exclusively to US customers, eToro warns others that the sting may feel. They would like to highlight liquidity issues potentials, i.e. executing $XRP orders, which can interrupt or stop existing positions. Due to extreme market conditions, we may also see significant spreads.

The company encouraged users to maintain “different investment portfolios” and reminded them that the platform offers inventories, ETFs, commodity products, indices, and more if they wish to diversify their holdings. eToro added that it will continue to monitor and update its users’ legal developments with regard to XRP.

As reported by the company other key trading platforms, including Coinbase and Crypto.com, CryptoGlobe has already announced XRP trading suspensions after an announcement was made of its action. XRP’s trading may not be carried over globally if it determines, either market, regulation, or other conditions warrant that such action.

On 22 December the SEC announced the withdrawal of the former SEC Chairperson, Jay Clayton, on an alleging that it had applied for the provision of over $1.3 billion via an unregistered, constant digital asset securities offering, against Ripple Labs Inc. and two of its executives, which are also important security holders.

Almost immediately after the charges became official, the digital asset sensed the adverse effects of the SEC decision. In the following days, the price dropped by around 70% and was unable to bounce as various exchanges of cryptographs ran to drop the token.

After the beginning of the new year, Ripple was able to regain traction and jumped several times higher than $0.35. However, it continues to push the recent crash in the market and the news of further exchanges removing the coin.

When these lines were written, XRP prices rectified below $0.30 following the latest failure to overcome the level.

The stock market is believed as one of the most volatile markets in the world. It is the one that makes the use of different measures to regulate the prices of various securities that are being traded on different exchanges. Also, these securities play a vital role in managing the assets of every trader and investor. Therefore, in such a situation, the main aim of every trader is to make the maximum amount of wealth with a minimum amount of investment. Every option herein appears to be so much lucrative that everyone becomes interested in buying these stocks and shares. The traders find themselves spellbound by the return of the investment these securities offer.

Some of the wise old men have said this thing stating that one must always take a calculative risk and not indulge in castle building in the dreams. Therefore, any person who is a novice and an amateur in trading is prone to fall prey to these lucrative returns. There are some common mistakes which every trader commits. The list of these mistakes have been summarised as under and therefore. It can act as a guide and save the novice traders from committing the same blunder and wasting their hard earned money in any type of trades irrespective of the market trend.

Trading in the cheap stocks to earn more profits 

One must refrain from committing this mistake. One of the worst mistakes which is committed by novice investors is investing in the stocks by looking at their prices and without checking their fundamentals. The intention behind this strategy is to ensure that with the least cost the maximum amount of profit could be reaped. This technique has proved to be futile because in no manner the price of the share can denote the level of profit it could entitle the user to achieve.

Investing without reading about the financial position of the company

One of the most important considerations before investing in stocks is to read about the financial position of the company. The main aim of the technique is to ensure that the risk which has been taken is calculated and doesn’t subject the concerned investor with unnecessary risk of temporary price movement. It is important to understand about the financial position of the company in the long and short run for ensuring better results.

Understanding the bear and bullish period

One of the most important steps is one who is trading in this market should be in the position to differentiate between the bear and bull period so that the profitability is enhanced to the maximum possible extent. Therefore, one needs to take care of these periods and must not be in a hurry to jump into this deadly pool by temporary prices and trends in general.

Conclusion 

These are the primary mistakes which committed by new traders in the market. An attempt must be made to get rid of these mistakes in the best possible manner. You need to keep this in mind when planning your investments.

The engineer of different XRP-based items is the organization Ripple. Ripple has documented one more new brand name with the United States Patent and Trademark Office, or USPTO.

Documented on Nov. 6, petitioning for the brand name “PayString” gives meager data with regards to which business or item will be advertised under its overhang. For sure, the brand name enlistment portrayal is indistinguishable from that utilized for Ripple’s “Ripplenet” recording recently.

As per this portrayal, PayString covers the range of various classes of electronic monetary administrations: the utilization of fiat and advanced monetary forms for settlements and endowments; getting and dispensing electronic payments in fiat and computerized cash; money trade administrations in fiat and advanced cash; monetary exchange check administrations; and monetary administration and organization administrations for the transmission of advanced cash through electronic correspondence organizations.

In August, Ripple recorded a further two brand name applications with USPTO that incorporated similar application depictions as Ripplenet and PayString. A petitioning for another, Ripple Impact, tried to cover classifications of beneficent establishment administrations.

While the organization busies itself with enlisting new brand names in the US, a longstanding debate has been restored for the current week. The notable merchant and diagram examiner Peter Brandt contended that the US protections controller, the Securities and Exchange Commission, would have proclaimed XRP specific that “comprehended cryptos.”

Digital currencies as treated as assets in the past will not be treated the same in Israel anymore. As the news suggests, Israel is suggesting that bitcoin should not be viewed as currency or Fiat and not as an asset. This decision came to light after a four-member legislative team in the is really decided this. This decision is influenced by the fact that the Israelis should charge tax on digital capital and treat it as fiat, their country currency.

The news that matters

The four legislative members of the Knesset are, MK Oded Forer, Yevgeny Soba, Yulia Malinovsky, and Alex Kushnir, who suggested these particular changes in the treatment of bitcoin in Israel as reported by Globes, a media outlet in Israel. On September 22nd, they advised the administrative body in Israel to follow the existing laws related to bitcoin purchase and trading. This change will help bitcoin not be a subject of capital gains tax. The existing tax policy looks at bitcoin as an asset which is they charge 25% of the total every time conversion of bitcoin happens from an individual Account. Also, the short term lenders have to pay 15% tax on the conversion.

Now, if the proposed changes become law, bitcoin will be easily available and accessible at lower rates than anything else. The tax collection of the Israeli government is very low for other currency-related exchanges or conversions but as this is still in the asset section, many cannot have access to the digital currency.

 As Forer says, the blockchain system should be applied to make transactions during this pandemic which is secure and reliable. The pandemic has helped many countries realize that they lack technicality and need more power of technology to deal with living. The blockchain system surely is a good option to make payments. Several lockdown phases were announced in Israel to reduce the outspread of the virus. The cash transactions have almost halted in this country, the only help can be if transactions are made cashless and digitalized.

Cashless transactions might seem a little weird at the starting point, but as this pandemic has already hit again, people will start acknowledging the benefits of cashless transactions because social distancing has to be maintained strictly.

What’s stopping digitalization in Israel?

The bureaucrats are becoming the main reason for the halted digitalization of the economy. The fight about considering crypto as a currency or an asset is still a valid fight in the Israeli government official meetings. In Spite of the fact, there is an increasing number of blockchain activities and the rise in the value of cryptocurrencies, Israel is still in a dilemma whether to keep bitcoin in the asset category or to remove it from this particular boundary. The issues saturated when the government officials demanded capital gains tax on a particular time amount from an investor who is also a resident of Israel, but due to various reasons and loops of the system, the issues are still fresh and the dispute among officials regarding bitcoin is a valid one!