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Interesting facts you should know about Bitcoin, the cryptocurrency gold of 21st century

Bitcoin or Gold? The trends suggests bitcoin price is increasing multiple fold per day compared to slow price of gold surge in a year. Read more to know interesting facts about the most valuable cryptocurrency, Bitcoin

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Bitcoin Price, Cryptocurrency surge
Bitcoin, the gold of cryptocurrency (VOA)
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If you would have invested in cryptocurrency Bitcoin worth 100 $ in 2010, you would be sitting at a total of Bitcoin price of 80000000 $ right now

  • Bitcoin market cap today is $172,565,842,974 USD, more than IBM and Walt Disney
  • The cryptocurrency market cap has breached $300 billion
Bitcoin: What is it, where can you use it? 

Bitcoin is a digital currency created in 2009 by a mysterious figure using the alias Satoshi Nakamoto. It can be used to buy or sell items from people and companies that accept bitcoin as payment, but it is not the traditional form of currency, Bitcoin is a cryptocurrency. Cryptocurrency, as the name suggests, are currencies generated by computer codes, thus it has no issuing agency (like Reserve Bank of India). Any cryptocurrency is generated by ‘miners’ on a cryptocurrency network like bitcoin that solves complex mathematical problems. The network is peer to peer and transactions take place between users directly through the use of cryptography, without an intermediary.

“The system can act as a payment network that has no down time, it’s operating 24/7, it doesn’t care where and to whom you send money,” says Michael Rauchs, a cryptocurrency and blockchain expert at the Judge Business School at the University of Cambridge.

Bitcoin price, Bitcoin investment
Cryptocurrency Bitcoin, the growing market (VOA)

Why is bitcoin’s price surging insanely?

Like any other assets or currencies, bitcoin price is determined by the amount that people are willing to pay for it. The bitcoin price, surged above $10,000 on Wednesday for the first time, breaking a symbolic threshold in what has been a vertiginous ascent this year. The increasing demand pressure from investors and speculators makes the case for an even further increase in bitcoin prices in the near future. Bitcoin is decentralized and limited which makes it rare. This is a major factor for many Bitcoin users. Bitcoin is hard for government to trace and tax. The Bitcoin price surged insanely after demonetisation in India. Also, unlike fiat money produced by central banks, there is a cap set on total Bitcoin, limiting how much the currency can devalue through inflation.

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On 22nd May 2010, Laszlo Hanyec bought a pizza for 10,000 bitcoins. The Bitcoin pizza is worth $105,830,950 today.

Will Bitcoin ever be a safe investment or always a gamble?

Despite RBI warning, 2,500 Indians investing in cryptocurrency Bitcoin daily. The lack of clarity about its origin is another big issue related to bitcoin. Investment in cryptocurrency is always a subject to risk, you should invest only what you are comfortable to lose. While some investors may be attracted by the massive rises this year, others will be wary of the volatility. In mid-January one bitcoin price was valued at $800. By June Bitcoin price had gone to $3,000. At the end of November it touched $10,000. If you are an experienced investor with a balanced portfolio and relatively small exposure, then BTC is an exciting and potentially lucrative investment. But there is potential for significant losses and investors need to carefully consider the method of investing.

“The general sensible view is that the more volatile the investment, the smaller proportion of your wealth you should consider storing in it,” says Marc Warne, founder of bitcoin exchange Bittylicious. I have heard of people moving their life investments into bitcoin and this is a bad idea.

Bitcoin’s current value and price is based on the belief that it will continue to grow as the main cryptocurrency in the world, but it only accounts for just over half of the crypto market capitalization, new currencies are being developed, launched and spent everyday. The competitor coin Ethereum, for example, launched in September 2015 and is now worth $440 per coin.

If you can stomach volatile kind of risk, you can handle trading in this market. After all Bitcoin Pizza is worth $105,830,950 today.

 

– by SHAURYA RITWIK, Shaurya is Sub-Editor at NewsGram and writes on Geo-politcs, Culture, Indology and Business. Twitter Handle – @shauryaritwik

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Tips for Investing in Cryptocurrency

Lack of understanding of firm and then the technology right behind it combined with the proliferating of ICOs and is a recipe for disaster

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Cryptocurrency
Here you can get all the better solutions and tips for investing in cryptocurrency. Pixabay

Adapting the way and following the tips should not be mistaken for the professional investment and advices as instead is a basic friendly advice to mull over cryptocurrency. Same as if you want professional investment advice and consult a fiduciary and for the shorter list the zeros into the some key points and solutions in trading is really fantastic thing for us to know. Here you can get all the better solutions and tips you can get click on it https://bitpium.com/.

As investing in commodities
Exactly most rudimentary form of term, cryptocurrency is a best thing of concept for alternative and virtual currency that promises and secured and anonymous transactions. Some of the ways are much stronger and beneficial for Cryptocurrency models operate right without the central authority and availability. In this term and distributed and cryptocurrency mechanism and money is also issued the perfect managed and endorsed.

Figure out the things want to go long or short
As much as going short along with each and every penny have to invest there and are also going to pass long with some and short with. The long term investors will pay a lower tax and rate if they can hold for the twelve months and as a trade off and they will also have to sit right through the necessary corrections.

Consideration of laddering buys and sells
Basically in other words instead of buying of buying or selling each and everything in one chunk and set incremental buy and sell the essential to buy when the price goes down and sell on the type prices goes right up and more.

bitcoin
Cryptocurrency. Pixabay

State run Cryptocurrency exchange
Basic thing is that and national committee of the Chinese people politically consultative and conference both take part into the forum and on the first week of the march into this year. Now the market is in euphoria and is point where the investment may not appear as well.

Bitcoin
As those people who invest in BTC tend to right get itchy fingers and on the time BTC stagnates and alts go right higher. Sticking with the coins as you know and like but to consider always being partly in BTC this advice applies somewhat to Etherum. Lack of understanding of firm and then the technology right behind it combined with the proliferating of ICOs and is a recipe for disaster. Not a cryptocurrency experts and if were to rate knowledge of the crypto from zero to hundred and give it about a three since most of the people are about point 2 that means and also fifteen times smarter.

It is the newest trend into the market and that also contains the further elements of the computer science and also with the mathematical theory for the marketing enrolment and fluctuations. Not so much time ago cryptocurrency market took a particular series of some great and heavy punches from the Chinese govt. and then market took hits like a warier and combs have taken its toll in lots of investors. Blockchains, sidechains, mining and terminologies into the clandestine world of cryptocurrency keep piling up minutes and sounds unreasonable.