Microsoft’s Bill Gates is one known in the past for expressing admiration for cryptocurrencies and in a recent video, he has done just that claiming that digital technology has the means to empower the world’s poorest.
In 2014, he commented to Bloomberg that: “Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.” Recently, Gates has been talking about the extreme end of the financial equation, sharing thoughts on the financial system, digital currency, human resources and poverty. Referring to what the cryptocurrency sector is calling the world’s “unbanked”, he suggested that the world’s poor may not have financial tools to go about their lives but that their labor and intellect shouldn’t be underestimated. An inefficient cash economy risks dragging them further into poverty. Gates believe the security of cryptocurrency wallets could host the solution through the digitalization of money and related financial systems has the potential to directly help those currently living in poverty. —— 🤔Do you agree with Bill Gates, that cryptocurrency can provide essential tools to the world's unbanked populations? 🗣Let us know in a few words! —— 😎Follow @sharecrypto#bitcoinmining#bitcoin#bitcoins#crypto#cryptocurrencies#hodl#altcoin#altcoins#ico#cryptonews#xrp#xlm#bittrex#binance#kucoin#xvg#cryptotrader#cryptotrading#blockchain#bitcoinsallday#bitcoinwallet#bitcoincash#bitcoinprivate#cardano#ethos#verge#zcash#decentralized#litecoin#sharecrypto
1 193 hours ago
It turns out that cryptocurrency enthusiasts were committed well beyond the HODL rallying call that urged them to hold on during this year’s digital-asset market collapse.
The number of verified users of cryptocurrencies almost doubled in the first three quarters of the year even as the market bellwether Bitcoin tumbled almost 80 percent, according to a study from the Cambridge Centre for Alternative Finance. Users climbed from 18 million to 35 million this year.
The figures may provide a silver lining. If user numbers continue to increase even in a deep market downturn, that could signal that an eventual recovery could be coming — a crucial finding at a time when some critics predict that the value of cryptocurrencies will go down to zero.
Most users are likely still speculators and long-term investors. Due to the market volatility, cryptocurrencies are barely used in commerce. “Conforming with popular narratives, survey data indicates that the majority of users – both established as well as new entrants – are individuals and not business clients,” authors of the study said. “Individuals can be hobbyists, retail investors, consumers, or users seeking a better investment or payment alternative.” The number of crypto accounts increased as well, the study found. A single user can hold multiple accounts. “Growth rates were at their highest in 2017, and the number of new user accounts as well as ID-verified users continued to rapidly grow in 2018 as well,” the study said. .
New data and mining centre, Redstone is currently under construction in the Russian city of Krasnokamensk. Redstone will become a new home for digital currency miners from China, Russia and around the world. Redstone offers its clients the benefit of a convenient location, cheap electricity, perfect climate (avg. annual temp is 2°C) and accessible water for cooling.
Redstone is presently being constructed and will soon be operated by Telecor, a large Russian engineering company. For the last 15 years, Telecor completed over 500 projects in engineering, automation, IT, and telecommunications including modernisation/reconstruction of power grids and thermal power plants.
The key feature of Redstone is the power-generation capacity of 50MW (under Phase 1) that will be built on its own off-the-grid generator base providing reliable energy source. Redstone is located at the premises of non-nuclear thermal power plant operating by Rosatom – partner of the project, a State Nuclear Energy Corporation. Telecom network is provided by Rostelecom, the largest digital services provider in Russia
Redstone location provides good and stable quality of internet connectivity that can handle heavy loads of a data centre of such scale. Proximity to the Chinese border and Manchuria’s airport make Redstone an accessible destination for new equipment deliverie .
Regardless of the current Bitcoin price, it wouldn’t necessarily make a lot of sense to invest in the world’s leading cryptocurrency. After hitting over $19,500 a few months ago, the price has now collapsed to roughly $3,000. On paper, that looks like the asset has run out of steam, even though there are plenty of solid arguments to buy Bitcoin now. After all, these low prices may not remain in place all that long.
The technical aspects of Bitcoin have not changed despite the negative pressure. Unlike some other cryptocurrencies on the market with no supply cap, there will only be a maximum of 21 million Bitcoins by 2,140. The actual supply will be a lot lower as well as several thousands of BTC have been lost over the years for a wide variety of reasons. ￼
Additionally, Bitcoin is still useful as a currency. Although it is primarily an investment and speculative vehicle according to the media, it is evident there is some transactional value. After all, Bitcoin’s network sees the highest value transferred of all cryptocurrencies on a daily basis. That shows the currency is being used, although not as widespread as most people would like to see.
Despite these promising technical aspects, finding the right momentum to buy the dipremains challenging. For those who do not expect immediate profits, any time is a good time to buy. Depending on one’s patience, the investment will repay itself sooner or later. Those who keep a long-term strategy in mind will always reap the rewards in the end. .
Bitcoin Volumes Surge Nearly 30% as it Price Breaks Out of $6,550
Bitcoin, the most dominant cryptocurrency in the global market, has seen an abrupt increase in its volume from $2 billion to $2.53 billion on CoinCap.io.
On Coinmarketcap, the volume of Bitcoin has risen from $3.2 billion to $3.8. The discrepancy between the volume of BTC listed on CoinCap.io and Coinmarketcap comes from CoinCap.io’s system that does not take daily trading volumes from exchanges suspected to have inflated numbers into account.
Volume was the Biggest Issue
Throughout the past seven days, CCN consistently reported that the low volume of Bitcoin had posed a serious issue for the rest of the market. Although tokens started to initiate some big gains on October 8, the lack of momentum on BTC has prevented the market from initiating large gains to the upside.
For most of October, Bitcoin was bear biased, with weakening $6,500 support level and continuous demonstration of low market activity.
Edward Morra, a technical analyst in the cryptocurrency sector, reported this week that Bitcoin had recorded the lowest volume in 2018. The unforeseen drop in the volume of Bitcoin meant one of two things; either market is demonstrating seller fatigue or traders are simply not trading in the cryptocurrency exchange market due to the uncertainty in the market. “This is the lowest recorded daily volume in more than a year at least (as much as I could squeeze on the chart leaving chart readable) while hovering around the POC of the whole 2018. This is combined volume from various exchanges,” Morra said.
It is possible that a combination of the two factors affected the short-term price trend of BTC, leading it to maintain record-high stability at the $6,550 mark.
3 274 hours ago
It’s just a matter of time! #patience
👉What do you guys think? Leave a comment below and let us know if you think Bitcoin adoption is inevitable...
Germany’s Second Largest Stock Exchange is Launching a Zero-Fee Crypto Exchange
The second largest stock exchange in Germany, the Stuttgart Exchange Group and the banking institute SolarisBank are joining forces to create infrastructure for a zero-fee crypto exchange.
While some digital currency fanatics welcome large banking establishments into the crypto-affray, others believe it goes against the decentralized nature of cryptocurrency. However, you cannot stop the market from evolving and moving towards higher levels of financial integration.
Establishing a Zero-Fee Crypto Exchange
Although the Stuttgart Exchange Group announced back in May that a zero-fee crypto exchange trading app was on their wish list, we are now starting to see the infrastructure of the project starting to take shape. The German exchange giants are collaborating with the German fintech firm and banking platform SolarisBank, to make the vision a reality.
The combined efforts of the two companies will culminate in a new crypto exchange that is currently penned in to launch in the first half of 2019. The exchange will utilize the SolarisBank financial platform to be the cornerstone of the project.
The Stuttgart Exchange has been in operation since 1860 and is now the ninth largest stock exchange in Europe, which will give the new zero-fee crypto exchange a boost in terms of trust, reliability, and confidence.
Working Together to Create and Hybrid Exchange
The news was reported in a press release on Wednesday that outlined some of the nuances in regards to the collaborative effort from the Stuttgart Exchange and SolarisBank.
The CEO of SolarisBank, Roland Folz was very upbeat about the partnership and the potential of this new project by saying: “A reliable and efficient trading platform is an elementary contribution to [their] vision of a hybrid financial world with both fiat and cryptocurrencies.” Bridging the gap between the fiat and crypto sectors seems to be the main goal of the project. A secure exchange that will offer protection for up to 100,000 Euros that will be supervised by the German regulatory bodies BaFin and Bundesbank will be available.
This post is for the investors in my audience. Not the traders. Ever since I began this page I’ve been openly against Dollar Cost Averaging (DCA) in this market for the average investor. Feel free to scroll back and see my post on DCA in July of this year, a month after I created this page.
This is not a hindsight post. Ive always been against it in this market for good reason. What most fail to comprehend is that you need a good foundation of TA to properly apply this strategy. It isn’t simply buying and if it goes down lower buy more. If you’re an average investor you’re likely clueless if your entry was a good entry in the path of least resistance. In other words, you are likely clueless if you started your DCA strategy at or near the top of a bull market. Which many people did and are now undergoing extreme pain. The goal here is not to shame you or make you feel worse. It is to educate you so that you learn from it and don’t do it again.
DCA implies full confidence on a comeback in the near future. In such an unprecedented market and with no TA skills this is simply a recipe for disaster. The question is not only IF the asset will return to your entry price, its also WHEN. Even assuming that it does return to your entry price, which many times it simply does not, its the loss opportunity of having your capital tied up in that investment that should concern you. It's one thing to DCA on an asset you believe in when it is already 85% down from ATH, it's a very different thing when you do so at ATH. This appears simple but it isn’t. Which is the exact reason why I do not recommend any investors to apply this strategy in this particular market without the necessary set of skills. Safe Trading.