Ripple’s Capitalization Reached the 2nd Place after Bitcoin

According to CoinMarketCap, сapitalization of the cryptocurrency called Ripple reached almost $95 billion having squeezed Ethereum.

The price of XRP tokens increased by 50% and was around $85 billion on December 29th, 2017.

The rate of this digital currency has increased by more than 30000% since the beginning of 2017, whereas Ripple’s initial price was less than a cent.

An American Businessman Purchased a Bentley with Bitcoins

cars keys bitcoin

As we reported earlier, a luxury American car dealership, Post Oak Motor Cars, offered a new payment options for their clients. Besides USD, you can now pay in Bitcoin and Bitcoin Cash.

We remind you:

Fancy Car Lovers Can Now Purchase Bentleys, Bugattis and Rolls-Royces With Crypto

The first buyer was not long in coming. A business owner from Texas, Ken Bridge, bought a Bentley paying for it with BTC.

Bridge is a long-term Bitcoin investor and also a big supporter of the CEO of Post Oak Motor Cars.

I applaud Tilman for making massive strives in Bitcoin consumerism.” he said.

The businessman also mentioned that the blockchain technology and cryptocurrency have a great potential and he will keep supporting them in every way.

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A Ukrainian Startup Launched a Crypto Exchange in Kiev

A real cryptocurrency exchange has recently started functioning in the capital of Ukraine. Such an innovation was implemented by the project Buy Your crypto bank.

The exchange can be found near the subway station Olimpiyskaya, its working hours are from 10 till 19 every day. Ukrainians and guests of the capital can now exchange dollars, hryvnias and Bitcoins. The commission fee depends on the exchange rate.

The exchange developers believe that this is a necessary step in introducing cryptocurrencies in Ukraine. According to them:

We all know that the cryptocurrency market in Ukraine has not yet been regulated, but we have found a way to help carry out these [crypto] operations in accordance with our legislation.”

We remind you:

Ukrainians Will Pay a 19.5% Tax on Crypto Income

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Crypto Personality: Vitalik Buterin

The Coin Shark launches a new rubric “Crypto personality”. Here we will share with you the biography facts of the most famous and influential people in the crypto world. All the most interesting information will be wrapped in the brand cover of comic books and represented to you in the format of a space story.

3,2,1 … Start!

crypto personality vitalik buterin

We remind you:

Who is Vitalik Buterin?

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You Can Now Buy a Cup of Coffee in a Swiss Cafe Using Bitcoin’s Lightning Network

coffee for btc

While cryptocurrency is leaking into the spheres of entertainment, music and sports, the food industry seems to be falling behind a little. Though McDonald’s did launch its MacCoin, frankly speaking, it had nothing to do with crypto except its name.

A little cafe in the capital of Switzerland managed to outrun the king of fast food. You can now purchase food and beverages there using the Lightning Network of Bitcoin. By the way, the cafe is called energyKitchen.

To come up with this upgrade, the management of the cafe partnered up with a local IT company, and here is the result – Bitcoin holders now orders meals from the online menu or scan QR codes outside the cafe and pay for everything in BTC.

Oliver Grugger, the owner of this cafe, revealed some details on his Twitter.

So if you happen to be in Bern with a couple Bitcoins in your virtual pocket, make sure to stop by energyKitchen and get a cup of coffee.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin Price Prognosis: How the Capitalization of the World’s First Cryptocurrency Will Change Over Time

bitcoin capitalization

We often hear different economic terms to be used in relation to cryptocurrencies – volatility, capitalization, price, value, etc. Today we are going to talk about Bitcoin‘s market capitalization and will see whether this digital gold really constitutes any significant part of world’s assets.

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

  1. What is market capitalization?
  2. Bitcoin capitalization
  3. Prognosis
  4. Conclusion

1. What is market capitalization?

Market capitalization is quite a broad term. However, the first association that comes to mind is,of course, stock market. There is no single opinion on cryptocurrency but cryptocurrency can be called a financial tool that resembles both, money and shares. There is market capitalization of valuable securities, joint-stock companies and the whole market. Respectively,It is the price of a share, all shares issued by a joint-stock company and aggregated cost of all shares that circulate on the stock market. Back to the cryptocurrency, in simple terms market capitalization is an index of a total cost of all the coins. Market capitalization level depends on the cryptocurrency rate and they jump up and down together.

2. Bitcoin capitalization

Bitcoin is the first cryptocurrency in the world that was created in 2009. Today  more than 17 million coins circulate in the world and the maximum possible volume of mined BTC is restricted to 21 millions. Such a size of Bitсoin emission is layed down in the cryptocurrency code and cannot be changed. One of the important functions of this model is inflation prevention.  Only the fifth part of all the cryptocurrency reserve is to be mined and it will be done many years later. Considering the fact that every 210,000 mined block (one time in four years in average) slows down bitcoin mining two times when every new cycle begins. This formula allows to calculate that mining of 99% of all BTC will take 28 years and  mining of the last 1% will take more than 100 years!

However, back to the topic of the first cryptocurrency capitalization. In  2016-2017 Bitcoin became a synonym to bumper profit and goodwill. Digital currency was growing so fast that its holders didn’t have enough time to celebrate every new pick that the BTC rate reached day by day. Many people raised good money at Bitcoin and some people made even decadently big money,considering the fact that it wasn’t necessary to make efforts to gain the profit. The same way, cryptocurrency is associated with easy money, fast profit and other attractive things. At the same time there are more and more opinions about the significant impact that cryptocurrency has on world’s economy. Some are concerned that further development of uncontrolled decentralized financial systems are dangerous, while others think cryptocurrencies can create a really free economy of the future where everyone is their own central bank. However is cryptocurrency and Bitcoin in particular really a big issue for the world’s economy? In other words, is the digital gold really a big part of world’s capital? Well, figures from the CoinMarketCap can help figure it out.

So, today (mid-September, 2018) the total cryptocurrency market capitalization exceeds $190 billion which is by the way 4 times less than in late December, 2017 – early January, 2018. Back then the total cost of all coins circulating on cryptocurrency exchanges was almost $800 billion. It may seem really a lot, but in fact even back then the whole cryptocurrency market was worth less than just a single company – Apple. August 2nd, 2018 the total cost of all stocks of this company exceeded $1 trillion. Given that the stock market capitalization currently amounts to more than $65.5 trillion, cryptocurrency market capitalization looks rather small.

So what place does bitcoin have in the cryptocurrency market capitalization?

As a number of altcoins appeared and started developing, bitcoin dominance gradually decreased. In 2013 it exceeded 92%, and decreased almost by 10% until 2016. In summer 2017 bitcoin dominance was hardly 40% and Ethereum was snapping on its heels. Today BTC dominates, having 57% and the index started increasing since May, 2018.

Anyway, back in 2012 bitcoin market capitalization was only $0.06 billion while in December, 2017 it exceeded $336 billion. Today it is a bit higher than  $100 million and one BTC costs around $6.4 thousand.

3. Prognosis

As we already mentioned, the level of bitcoin market capitalization depends on the cost of every particular BTC. Today the cryptocurrency market seems to be starting to recover gradually from the rapid decline in the first half of 2018. At the same time, some experts believe that what we could observe in spring, 2018 was not really a collapse but just a correction of the rate after an unnaturally large increase in the end of 2017, when BTC was traded at $20,000 per a coin. In February, 2018, Jesse Powell, CEO and founder of a large U.S.-based cryptocurrency exchange called Kraken, told CNBC that capitalization of the cryptocurrency market could reach $1 trillion in 2018. So he basically expects it not only to recover lost ground but also increase its economic power. Moreover, it still remains an open question whether institutional investors finally “jump” into the cryptocurrency market, which will positively affect its capitalization. In July 2018, in a talk about bitcoin Maxim Balashevich, founder of an analytical company Santiment, told Forbes that “about a month ago we were just at the bottom of the 4th wave, and today we are in the 5th wave that should lead us to something between $25,000 and $50,000”.

4. Conclusion

So, can we expect a huge increase of bitcoin and cryptocurrency market capitalization in the longer term? Hard to tell. Anyway, today BTC`s capitalization is tiny as compared to the capitalization of stock market and it will probably take a long time for digital currencies to reach the level of huge public companies capitalization, even if they once again start increasing in value lightning fast.

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