Bitcore Cryptocurrency Review : Special Features, Rate, Predictions

bitcore cryptocurrency

Contents:
(please click the topic to scroll down to it)

  1. What is Bitcore?
  2. Technical features of Bitcore cryptocurrency
  3. Bitcore (BTX) exchange rate
  4. Where to buy Bitcore coins
  5. Prospects of Bitcore project development

1. What is Bitcore?

Bitcore project appeared in 2017 and aimed at solving some problems of Bitcoin, that each Bitcoin user could already feel by that time. Bitcore was not a “classic” Bitcoin fork, like, for example, Bitcoin Cash or Bitcoin Gold. What happens when fork is made is the following: there is a certain block in a particular cryptocurrency blockchain, and when it is generated, the division takes place, and a new cryptocurrency appears. So, Bitcoin Cash had the very same blockchain as Bitcoin before the fork and became separate after it. It was a bit different in Bitcore, and that is what makes the cryptocurrency interesting. When Bitcore was launched, a completely new blockchain with empty blocks was created, and then the necessary cordings were made, so as to allow Bitcoin holders to receive new Bitcore coins on their cryptocurrency wallets in the specified amount equivalent to their BTC savings.

2. Technical features of Bitcore cryptocurrency

Bitcore is a “pure” payment system. Like Bitcoin, this project does not make any additional “ideological” or functional offer to the market. The coin is actually rather similar to BTC, however, it has some special features designed to advance and improve Bitcoin operation. Bitcore’s total block size is 20MB (together with SegWit), blocks are generated in 2.5 minutes, the cryptocurrency has a unique Diff64_15 complexity algorithm and provides available and decentralized mining on graphic cards (GPU-mining). The maximum supply of Bitcore, as well as Bitcoin, is 21 million BTX coins. Like in the world’s first virtual currency, the reward of miners is reduced by half within each certain period of time.

The developers themselves state that another advantages of the project is a fair coin distribution. BTX is available for a wide range of miners and is not expensive, however, a fair distribution means something even more. The platform has a number of different bonus programs providing users with the opportunity to get Bitcore for free. In addition, each Bitcoin holder, who has at least 0.01 BTC on his/her cryptocurrency wallet by the specified time, receives an equivalent number of Bitcore coins. Extra coins are awarded for long-term storing and for a couple of other things.

3. Bitcore (BTX) exchange rate

Cryptocurrency entered the market with the price of about $6 per coin, but it quickly fell, and until the autumn of 2017 the rate did not manage to rise above $1.5-$2.5. In autumn Bitcore coins started growing steadily and reached almost $40 in November. However, by the middle of December the cryptocurrency lost more than half of its value. In 2018 the coin cost around $25-30, until in late February it began to decrease up to the current $2.19. Bitcore used to be in the top-40 virtual coins by market capitalization, however it is even outside the top-200 today.

4. Where to buy Bitcore coins

The leader by Bitcore trading volume is an Asian cryptocurrency exchange called Bit-Z, where Bitcore is exchanged for Bitcoin and Ethereum. In addition, a popular New Zealand-based exchange Cryptopia has Bitcore trading pairs with Bitcoin, USDT, Litecoin and even Dogecoin. The coin is also listed on HitBTC, QBTC, and Exrates, where it has a pair with the US dollar.

5. Prospects of Bitcore project development

Apparently, even the developers themselves are not quite sure about the future of the project – roadmap ends with the last quarter of 2018, and there is no information about what is going to be done after that. Bitcore is actually only a technical Bitcoin alternative, so it depends on updates and technical improvements of the first cryptocurrency and if it manages to cope with its problems, then users will probably have no interest in BTX. For example, Bitcoin’s scalability problem was partially eliminated by the implementation of SegWit – the protocol that had been already launched in Bitcore and was considered as an advantage comparing to Bitcoin. Yes, Bitcore remains faster and more available for mining, however, it is obvious that it is absolutely not that liquid and has much less users.

In 2017 Bitcore already demonstrated growth and, in general, can regain lost ground. At the same time, there are a number of competitors who not only offer solutions to improve Bitcoin, but also have a certain unique idea behind them. Today it is still difficult to say whether the project will be successful at least in the medium term, but, perhaps we will hear about Bitcore once again in the future, so this cryptocurrency may be worth checking from time to time.

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Cryptocurrency Prices Today, February 15: Cryptocurrencies “Stand Still”

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3604 per coin.

For the most part, cryptocurrencies did not change in price throughout the day:

Bitcoin Cash lost 0.99% over the past 24 hours and costs $121 per coin;

Ripple dropped by 0.03 and costs $0.30;

EOS added 2.3%, and its price is $2.85;

Litecoin grew by 0.18%, and its value is $42;

Cardano gained 0.27%, and its cost is $0.040;

Stellar added 2.66% and costs $0.078;

IOTA grew by 0.87%, and its cost is $0.27;

Dash lost 0.6, and its price is $79;

Monero fell by 0.06% and costs $47.

Over the past 24 hours, Ethereum remained stable. The exchange rate of the coin is $122.

The total market capitalization is $120 billion. Bitcoin accounts for 52.7% of the total volume. In monetary terms, it is $63 billion.

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Japanese Giant GMO Internet Lost ¥1.3 Billion in 2018: Report

One of the biggest Internet companies in the world, Japan-based GMO Internet Inc., posted a report on its financial performance. An operating loss accounts for ¥1.3 billion (~$11.75 million) in 2018.

GMO’s mining business

According to the report, mining business fared very poorly in 2018 which resulted in great losses. The company explained that the business did not increase as expected due to the collapse of cryptocurrency market in Q4. The report provides  the table where we can see the real revenue and real loss of the company. The data provided below does not include “extraordinary losses” of approximately $319.2 million.

Source: GMO Fiscal Report 2018

Alongside, Internet giant announced that it would implement a policy change regarding to their mining business model. The company will sell its bitcoin mining assets at cheaper rates to compensate for a portion of its annual losses.

Moreover, GMO plans to relocate mining centers to the regions where power supply is cheaper. The centers allegedly will be somewhere in Northern Europe.

GMO’s Bitcoin exchange

Source: GMO Fiscal Report 2018

According to the report, the company’s quarter-revenue has fallen by 66.7%, even though the company annually posts about its 7% profit from its crypto exchange GMOCoin.

In 2018, GMOCoin recorded a net sales of ¥4.02 billion (~$36.33 million). In Q1, crypto exchange has lost about ¥76 million, yet, high sales of next quarters compensated them. The fall of cryptocurrency market has also played a significant role in GMO’s revenues. Each phase ended on a lower note than a previous one in terms of sales, while the profits remained marginal.

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Cryptocurrency Prices Today, February 14: Cryptocurrency Did Not Catch The Romantic Atmosphere And Began To Fall In Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coingecko online platform, Bitcoin (BTC) lost 0.35% over the past 24 hours after a period of growth. The price at the time of writing is $3607 per coin.

Cryptocurrencies have returned to the red zone:

Bitcoin Cash lost 0.6% over the past 24 hours and costs $121 per coin;

Ripple fell by 1% and costs $0.30;

EOS decreased by 4.1% and its price is $2.78;

Litecoin dropped by 3.2% and its value is $41;

Cardano lost 2.5% and its cost is $0.040;

Stellar fell by 1.1% and costs $0.076;

IOTA decreased by 1.6% and its value is $0.26;

Dash lost 1.9% and its price is $78;

Monero dropped by 2.5% and costs $47.

Over the past 24 hours, Ethereum has lost 0.7%. The rate of the coin is $122.

The total market capitalization fell to $120 billion. Bitcoin accounts for 52.5% of the total. In monetary terms, it is $63 billion.

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The Most Dangerous Crypto Crimes: What About SIM Swappers?

Cyber attack and crypto crimes in every shape and form are quite abundant on the market of digital assets right now. They all have different goals and different levels of harm. The careful and thorough analysis of such attacks will make it possible to predict them and protect sites, platforms and companies from breaches and money losses.

However, there is a weird tendency going on among the analytical reports, which we will try to explain down below.

Two major cyber security companies Chainalysis and CipherTrace released their analytical statements at the end of last year. Both reports contained statistics on hacker attacks and crypto crimes and an outline of current trends.

The main focus of CipherTrace was different money laundering techniques, cryptocurrencies that are the easiest targets for crypto criminals that choose this path, AML regulations and other related info.

Whereas Chainalysis told its readers on the scale and profitability of such Ethereum scams as phishing and various Ponzi schemes.

Surprisingly, there seems to be nothing about the infamous SIM-swapping.

Just to remind you, SIM-swapping is a kind of a cyber attack aimed at money theft. Simply speaking, a hacker convinces the phone provider to “swap” the number of a victim to a new device. In such way, criminals get full access to the personal information of their victims, still their identity, and later money.

SIM-swapping scams have been involved in multiple scandals with the biggest cell-phone providers of America, the crimes involving this technique resulted in huge money thefts and loud arrests of witty hackers, yet very few reports actually mention it.

However, this still does not diminish the dominance of SIM-swapping over many other types of crypto crimes. In order to fight it, we not only need more coverage from the mass media and analytical firms, but also the cooperation from the cell phone companies to protect the users, their info and their money.

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How To Read Trading Charts

Cryptocurrency exchanges work on the same principle as traditional exchanges. Potentially, it is possible to earn very good money on these platforms, but for this, it is needed to be able to correctly read the cryptocurrency coin chart. Of course, in order to become a professional trader, it needs to learn and practice a lot, but if your goal is to understand the basics, this article will be an excellent starting point in the exciting world of trading for you.

There are a huge variety of different charts, but the most common is the “Candlestick chart”. The chart is a much more informative tool than digital or text analysis. Using graphics, it is possible to quickly navigate and understand the current mood of the crowd, as well as the balance of power between sellers and buyers of a particular asset. Based on the obtained data, it is possible to calculate the potential profitability or unprofitability of a particular deal.

1. The main types of stock charts

As it was mentioned above, there are a huge number of different types of charts, but the main ones are lines, bars, and candlesticks. All of these tools (with the exception of the line charts) can tell about:

  • price at the beginning of the selected period (1 minute, 5 minutes, 15 minutes, 1 hour, 1 day, 1 week, etc.);
  • price at the end of the selected period;
  • the minimum and maximum rate of the selected period.

By and large, the crypto chart clearly shows the history of the struggle between bulls and bears. In the process of this confrontation, a large number of deals are made. It should be understood that even a slight fluctuation of the price means that some have already earned on it, while others, on the contrary, have suffered losses.

2. “Candlestick chart”

Let’s take a closer look at the most common version of charts, namely “Candlestick chart”. It was invented almost 400 years ago by a rice seller from the country of the Rising Sun. The process of observing a line chart is not entirely convenient; for this reason, the construction of “Candlestick chart” is based on the principle of dividing the total time into specific periods. This principle helps to quickly navigate what is happening on the market and, accordingly, to give the Bitcoin trend prediction or any other financial asset forecast.

3. How to read the chart “Candlestick chart”?

One candle represents the range of prices for an asset for a certain period of time. The boundaries of the candle are the lowest and highest asset price in this period of time. If the candle`s color is green, this means that the asset has increased in value over a given period of time; if it is red, then, on the contrary, it has fallen.

Source: https://www.tradingview.com/

If you look closely at the above chart, you will notice:

  • the candle corresponds to the time interval – 60 minutes;
  • the minimum asset price was $3485,24;
  • the maximum asset price was $3733.58;
  • This hour began with a price of $3506,42 and ended with the price of $3687 (for this reason, the candle is green).

The main parameters that should be paid attention to when reading cryptocurrency charts are:

  • asset price;
  • time;
  • trading volume.

By and large, the entire analysis of charts is an ordinary calculation of the balance between supply and demand. It is possible to estimate the level of the strength of bulls or bears through the asset price (vertical axis) and the volume of transactions (horizontal axis). These skills allow experienced traders to take the right position in advance and earn money on any price movement.

4. Conclusion

In this article, we talked about how to read cryptocurrency charts. As it was mentioned above, there are a huge number of different types of charts, but the most popular and often used is the option “Candlestick chart”. The basic principle of this type of charts is to divide the time into certain periods. It is quite informative and easy to read. If you want to start trading, then you definitely need to get a deeper understanding of this topic.

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Bitcoin Trading in Venezuela Hit All-Time High: The Possible Future of Bitcoin

According to the report of TrustNode, Bitcoin volumes have surpassed all time high in Venezuela, rising above 2,000 BTC for the first time on peer-to-peer exchange LocalBitcoins.

Bitcoin is the only way to feed family in Venezuela

You may have heard that Venezuela has been experiencing economic crisis as the national currency – the Venezuelan bolivar – has collapsed and become valueless.

The citizens suffer from a lack of basic supplies, including products, medicines, etc. The supermarket shelves are bare. Children are fainting from hunger in their classrooms. The situation changed even worse when the government of Nicolas Maduro blocked U.S. humanitarian aid from coming into the country through the Columbian border.  

The administration of the opposition leader Juan Guaidó remain optimistic, they are convinced that they are able to pass the aid to the people. However, the Venezuelans do not trust anyone anymore, and the only hope left is Bitcoin. People started mining Bitcoin to convert it into dollars to purchase foods and other necessities.

All-time high of the Bitcoin trading

As the 2019 Venezuelan protests caused by presidential crisis are in full swing, people started to trade Bitcoin at full. That is why, the weekly volume of the BTC-to-Venezuelan bolivar (VES) pair increased to 2,454 BTC. It is worth $8.95 million per week and $1.29 million per day.

Bitcoin Future in Venezuela

Tuesday is going to be a big day for Venezuela, according to the Washington Examiner, on Tuesday, February 12, the Venezuelan people plan to demand Maduro’s resignation on the streets all over the country, and try to bring U.S. aid across the Colombian border. Nicolas Maduro has ordered his military to stop them. So the future of Bitcoin depends on who will win.

If Nicolas Maduro remains to be the President of Venezuela, then Petro coins will have more power than Bitcoin. However, if the opposition leader Juan Guaidó overthrows the current government, then Bitcoin will definitely have future in Venezuela as Juan Guaidó gives preference to Bitcoin over Petro.

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