The True Form of Bitcoin and Forecast for the Future

Now it is hard to find a person who has never heard of Bitcoin’s existence. But the vast majority of people do not fully understand what it is and how it really looks like. In this article we will discuss the true appearance of Bitcoin, and also find out whether BTC can have physical form.

1. What does Bitcoin look like?

We briefly remind that Bitcoin is the very first cryptocurrency in the world, it was launched in January 2009. This is the first decentralized payment system in the world, in which interaction takes place exclusively between users, and does not require regulation by intermediaries. It works with the help of blockchain technology, which guarantees security of transactions.

The Bitcoin network is a chain of blocks, which store information about every coin transfer in the entire history. Each block has timestamps as well as encrypted information about the previous block. This data is stored on every miner`s computer all at the same time, thus it is impossible to change anything in the registry. So, basically, Bitcoin is just a record in blockchain.

2. Is there a Bitcoin in physical form

It is very difficult for the vast majority of people to imagine something that does not exist in the real world. Some enthusiasts have begun issuing physical Bitcoins for this reason. What is it? The actual Bitcoin coins appear in the form of physical wallets. They are intended for safe storage of coins, as well as for offline payments. There is a wallet`s address that can be found on a coin, which is publicly available, as well as a private key, which is hidden by special hologram.

Source: https://www.coindesk.com/

The first physical coins were issued in 2011, produced by Mike Caldwell. The circulation was 3500 pieces, it is worth saying that the author mined those digital assets by himself. These coins were sold out very quickly, so in 2013, Caldwell released the next generation of physical bitcoins, which had new design.

3. What are the prospects for Bitcoin?

The first digital coin in history keeps leading position for almost 10 years and remains a powerhouse for the entire industry. The very first exchange rate of the coin was 1 dollar for 1.309.03 BTC. We remind that the coin’s rate in December last year was above $20,000, and then started falling down. Bitcoin costs about $3,300 now (according to CoinMarketCap).

No doubts, it is the biggest asset value increase in the history of mankind. Many cryptocurrency experts predict a great future for Bitcoin. Coin emission is limited, mining complexity increases every year, and users base is growing. All these factors will certainly have a positive effect on the cost of the asset in the future.

Bitcoin has one big problem that slows down its development – a small bandwidth. The network is able to perform only 7 operations per second. This It means that the more people will use the system, the longer it will take to wait for transactions confirmation takes to wait for. Sometimes it can take hours or even days.

4. Conclusion

Many people wonder: How does 1 Bitcoin looks like?” In general, BTC does not exist in physical form, it is just a set of data stored in the blockchain. But the enthusiasts created physical analogs of coins, mostly for collectors. They are physical wallets, made in the form of coins. Bitcoin`s future is not fully defined yet, but the majority of experts believe that the peak of its popularity is still ahead.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

We remind you

Two European Finance Regulators Urge the EU To Adopt Crypto and ICO Rules

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A Video Gamer Received a 20-Bitcoin Donation on Twitch

A video game player under the nickname Sick Nerd received a donation from an anonym in the amount of 20 Bitcoins when playing the game RuneScape and streaming it on the platform Twitch.

Sick Nerd mentioned this on his Twitter:

At first, the streamer received only 4 BTC. He didn’t take it seriously right away, but kept receiving new donations in cryptocurrency. Overall, Sick Nerd became richer by over 20 BTC during his streaming session.

This is the largest crypto donation sent to a video game player ever, and, of course, the largest donation ever received by Sick Nerd (more than 70 thousand dollars).

Cryptocurrency keeps making its way into every sphere of human activity, and video games are no exception. We remind you:

Cryptocurrency Games: Bitcoin Game Review

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New Useful Gadget or Promotional Trick: What Is the WT2 Plus Earphone Translator?

A language barrier is the main cause of disagreements and the reason why people of different nationalities cannot fully communicate. But, besides, a language barrier complicates the lives of many travel lovers. Soon this problem will fall into oblivion, as its solution was suggested by Timekettle company in the form of a new gadget WT2 Plus. Now this device is presented at the International Consumer Electronics Show CES-2019 in Las Vegas.

What is WT2 Plus?

This is a wireless earphone translator, which will become an integral gadget when traveling to foreign countries. The novelty caused a huge interest and made many people wonder: “What is the price of WT2 Plus?”. You can breathe a sigh of relief, because the answer is already there! The cost of WT2 Plus is $ 219.

Source: http://www.timekettle.co/

How does WT2 Plus work?

The earphones support Android and iOS operating platforms. They connect with a mobile device via Bluetooth using the application that allows users to set a language. At the moment, the application supports 20 languages, but in the near future the developers will add another 15.

The feature of the application for WT2 Plus is recognition of various accents. For example, the application supports 5 accents of English, including Australian English.

Direct use of portable earphones occurs as follows: in order both interlocutors can talk and hear each other, each puts one earphone from the kit on. When talking, the earphones transmit the sound to the smartphone for translation and transferring the translation back to the earphones. The delay in processing and transferring sound takes only 3-5 seconds, depending on a sentence size.

Even though the manufacturer emphasized the possibility of real-time translation as its main advantage, in fact the device is capable of translating only short phrases, the duration of which do not exceed 15 seconds. For example, the gadget can not be used for continuous translation of a film in a foreign language.

Regardless of the headphones’ being wireless, they will not catch environing phrases and translate them due to the built-in “Touch” mode, which allows you to use WT2 Plus in crowded places.

The earphones themselves are stored in a pocket-case that resembles Apple’s AirPods case. The earphones are charged from the case. Each earphone has a 110 mA battery, and the case battery capacity is 320 mA. Full charge of the earphones takes 90 minutes. The case works for two weeks without recharging, it is enough for two recharges of each earphone.

The manufacturer plans to increase the accuracy of the WT2 Plus translation to 95%. The translation requires access to the Internet, since it is carried out through Google and Microsoft cloud servers.

Gadget Hits and Misses of 2018

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How to Get Bitcoin And How Profitable is Mining in 2019

Appearance of Bitcoin has marked the beginning of a new era in development and dissemination of money. 2018 became a crucial point for cryptocurrencies. In this article we will talk more about Bitcoin mining, find out what is needed and how to earn from it.

1. What is Bitcoin mining?

BTC mining is carried out with the help of specialized computer equipment, so-called Bitcoin farms. In order to open a new block, the miners resolve complex mathematical problems, for which the network rewards them with X number of coins.

Bitcoin algorithm is designed in such way, that every 210 thousand blocks the reward decreases exactly by twice. At the very beginning, miners received 50 coins for each new block, then this number was reduced to 25, and now this value is 12.5 BTC.

2. What are the ways to get Bitcoins?

Bitcoin is the most popular cryptocurrency in the world, many people would like to become its lucky owner. Here are some ways to do it:

– Bitcoin faucets. This is an absolutely free method to get coins. It lies in performing various simple tasks, such as decoding and entering captchas, clicks on advertising links, browsing advertisers` websites, etc. This work is absolutely simple, but it requires  patience. We want to remind you, that reward for such work is purely tokenistic and it is not possible to earn decent money from Bitcoin faucets.

– Mining. This method means investment into equipment. It can be completely different: you can organize home mining on graphics cards spending 2-3 thousand US dollars on it, or you can build a huge data center by investing hundreds of millions of US dollars into this enterprise. Thus the income should be directly proportional to the initial investment. Unfortunately, today cryptocurrency is so volatile that it is impossible to calculate how much profit Bitcoin mining will bring in 2019.

– Salary in crypto. Nowadays, the fact of getting salary in cryptocurrency is no longer supernatural. Yes, it is still uncommon, but it is far from single instance.

– Purchase. The most obvious way to get cryptocurrency is to purchase it. Nowadays, you can buy Bitcoin using a large number of services (exchanges, currency exchange offices, individuals, etc.).

3. What is needed in order to start BTC home mining ?

In general, this is rather a broad theme, but in this article we will only briefly run through the main points, without which home mining is impossible. So you need to:

  1. Buy equipment for mining (graphic cards or ASIC miners).
  2. Create a Bitcoin wallet. Without this it will be impossible to get coins.
  3. Select a mining pool. Nowadays the hash rate (total computing power of all the miners) of Bitcoin network is really huge, that is why the algorithm constantly increases its overall complexity. This is why it will be very difficult for one miner to open a new block even with sufficiently powerful equipment.
  4. Install a special software for mining.
  5. Follow the process and, if necessary, repair or replace the components.

You should also remember that mining equipment (especially ASIC-miners) make a noise and heat up while working, therefore installment of farms in a residential house is not a good idea.

4. What is cloud mining?

There is another way to start mining Bitcoins. This is a cloud mining. It does not involve physical contact of person with equipment. A user buys a certain amount of computing power at a large data center and immediately starts to get income from it. So, how is it better to mine Bitcoin, on your own or using cloud? Everyone will find his own answer. Definitely, profit of home mining will be higher, but cloud mining will ease your pain associated with farm maintenance. Someone is willing to pay for his or her comfort, but another one would prefer to do everything by independently, therefore, everyone decides on one’s own.

5. Which video adapters work best for Bitcoin mining?

Each particular video adapter has its own payback period, which directly depends on what is happening on the cryptocurrency market. 2019 has just started, so here is the list of the most cost-effective video adapters for BTC mining in 2018:

  • NVIDIA GTX 1080 TI.
  • NVIDIA GTX 1070 TI.
  • NVIDIA GTX 1070.
  • RADEON VEGA FRONTIER EDITION.
  • RADEON RX VEGA 56.
  • RADEON MINING RX 470.
  • NVIDIA P106-100 (GEFORCE GTX 1060).

6. How to calculate Bitcoin mining correctly?

Bitcoin rate is very volatile, network hash rate is also unstable, so, it is almost impossible to calculate exactly the mining profit. But there are convenient calculators which will help you to find out at least approximate numbers.

7. What does BTC rate depend on and what will happen next?

Bitcoin price varies in the trading range of USD 4000.00. Bitcoin emission is limited and it amounts to 21 million coins. Over 17 million ones have already been mined. But it is necessary to recall a double decrease in the remuneration for a found block, which occurs every 4 years. It is easy to calculate that over the next 30 years, more than 99% of all coins will be mined, and the remaining 1% will be mined over the next 100 years.

According to the laws of economics, this feature makes Bitcoin a very valuable and, most importantly, a limited resource. Now Bitcoin capitalization is about 70 billion US dollars, and it is absolutely a wasted number from the world scale perspective. Many market experts predict a great future for this coin, for example, John McAfee believes that 1 Bitcoin by December 2020 will be USD 1,000,000.00.

If to take a look at Bitcoin chart for the entire history, one can see approximately the same picture of what is happening: rapid growth, prolonged correction, stagnation after which the cycle repeats. Moreover, every time during the correction, the media “buries” Bitcoin, and the coin after some time again renews its previous records.

8. Conclusion

Bitcoin mining, as of the beginning of 2019, is not a very profit-making enterprise without major initial investment. Bitcoin mining should be considered more like an investment for the future, when BTC becomes a very scarce asset and its value can literally skyrocket. Well, we cannot do anything but wait and actively monitor the developments.

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GMO Will Keep On Mining Bitcoins at a Different Location

One of the world’s largest IT companies, Japan-based GMO has published its monthly report regarding its mining activities and the profits coming from them.

We remind you:

Japanese GMO Releases a Monthly Update: What Has Changed As For Mining?

Based on the December’s document, the revenue from mining cryptocurrency has dropped down  significantly which implies that immediate measures must be taken.

One of the biggest pitfalls of mining is the amount of electricity consumed and its high price. Thus, GMO made a decision to relocate its main mining center into a different area, where electricity will cost way less.

We will relocate the mining center to a region that will allow us to secure less expensive power supply,” reads the report.

Moreover, the company refuted all the rumors regarding its alleged plans of giving up mining completely. Since 2017, when GMO first engaged into mining, it has earned massive profits and still sees potential in crypto.

As we may see in the statistical data, the mining reward for Bitcoin increased a lot in the last month of December, whereas Bitcoin Cash suffered a hard fall. But the crash of the crypto market and Bitcoin in particular could not be controlled by GMO and affected its business quite badly, making it “move houses”.

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The Dark Overlord Threatens To Reveal The Truth of 9/11 Attacks Unless Ransom in Bitcoin is Paid

The Dark Overlord, a hacking group, famous for posting unreleased episode of TV series “Orange is the New Black” in April 2017, decided to resume its blackmailing, however, this time it is not just an entertainment company Netflix, but insurance companies which possess information about 9/11 attacks.

The hackers claimed that they had hacked several insurance firms, like Hiscox Syndicates Ltd, Lloyds of London, and Silverstein Properties. These companies insured World Trade Centers in New York. It is still unclear what kind of information was stolen, but the culprits are trying to capitalize on conspiracy theories around the 9/11 attacks.

We’ll be providing many answers about 9.11 conspiracies through our 18.000 secret documents leak from @HiscoxComms and others #thedarkoverlord #911hacked#hacking #leak #cybercrime
            — thedarkoverlord (@tdo_h4ck3rs) December 31, 2018

One of the companies confirmed that the hackers had breached and stolen a few files related to the the September 11 attacks. The spokesman of the Hiscox Group wrote in email:

“The law firm’s systems are not connected to Hiscox’s IT infrastructure and Hiscox’s own systems were unaffected by this incident. One of the cases the law firm handled for Hiscox and other insurers related to litigation arising from the events of 9/11, and we believe that information relating to this was stolen during that breach.”

The hacking group sent a set of emails to that firms where it stated that the companies had to pay ransom in Bitcoin or The Dark Overlord unlocked different sets of files and the hidden truth of 9/11 attacks would be exposed.

They also mentioned that they offered to sell the information on the famous dark web hacker forum KickAss, as well as invited several Chinese and Russian terrorist groups to make purchase.

We remind you

Crypto Will Hardly Ever Sponsor Terrorist Attacks Like 9/11

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