Category Archives: News

Bitcoin (BTC), Bitcoin SegWit2X (B2X), Fork, News, SegWit2X

Bitcoin or Bitcoin2x? News & Guides to Navigate November’s Fork

October 30, 2017 flippener

For bitcoin, November is a step into the unknown.

Despite its steadily increasing price, not to mention a growing acknowledgment from the financial mainstream, the technical roadmap for the cryptocurrency has never been so hotly contested.

After years of debate on the best path forward, a new code proposal called Segwit2x is set to put the cryptocurrency – the world’s largest by value – to the test. And while it boasts significant support from miners and businesses, it remains unclear whether the new code will change bitcoins’ rules, or if another new cryptocurrency will be created (one already being branded bitcoin2x by some).

Bitcoin fork pen and bitcoin keychains (Image: BTC Keychain/Flickr)

Quite simply, there’s never been a larger change to the platform, nor one that has been the subject of such criticism and scrutiny.

And it might not be all free money. As developers are keen to note, this is bleeding-edge science; in short, we’re in uncharted territory, and if past forks are any indication, decisions could lead to consequences – for users, investors and the market at large.

Stuck in Limbo? Bitcoin Cash Price Clocks 9-Day High

October 28, 2017 flippener

Bitcoin cash price caught a fresh bid wave today, reaching a nine-day high of $373.

At press time, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate is trading at $346 levels. The relatively new cryptocurrency has gained 4.12 percent in the last 24 hours, as per CoinMarketCap.

Still, the cryptocurrency has been restricted to a narrow range around $330 in the last two weeks, with only occasional spikes above $350. Meanwhile, the downside was capped below $300 levels.

However, today’s price gains look sustainable as trading volumes are on the rise. Notably, the rally to $350 levels on Thursday was backed by a 54 percent boost in volume, according to CoinMarketCap data.

Once again, it seems gains are being fueled by a surge in South Korean trading – volumes on Bithumb (which offers a BCH/KRW pair) are up 42 percent.

What’s the Price of Bitcoin Gold? Crypto Traders Still Aren’t Sure

October 26, 2017 flippener

From $0 to $2,900 – and seemingly everywhere in between.

Bitcoin gold, a new fork of the bitcoin software, may not have been officially launched (or distributed to users), but that isn’t stopping the cryptocurrency markets from seeking to determine its potential value (or profiting from its eventual existence).

In an interesting twist on a typical distribution, a number of exchanges are now listing a token that represents a claim on the future delivery of bitcoin gold (in advance of it becoming available to all bitcoin users). Ahead of that event, however, traders are seeking to value the asset, which proposes an alternative to the difficulty of competing for rewards on bitcoin’s mining network.

Still, it’s safe to say there’s disagreement so far.

In interview, analysts expressed a reservation about bitcoin gold, both when speaking about its developer team, and when characterizing the protocol’s potential market opportunity.

How Bitcoin Broke Australian Man’s Debt Cycle, Liberated Him From Banks

October 25, 2017 flippener

Bitcoin has been touted as the currency for the people as its decentralized platform allows for its users to be free of the banking monopoly with their exorbitant fees and charges.

Crippling debt cycles and unbreakable lending policies which are not conducive to economic empowerment have long dogged society forcing the new generation to seek alternative; this is where Bitcoin has come in.

Open bank vault (Image: ahobbit/Pixabay)

Now, a man in Townsville, Australia, has become a proof of concept for the economic freedom Bitcoin can provide by paying off his mortgage and is funding the development of a new home through profits generated through investing in Bitcoin.

Bitcoin for business

Michael Sloggett first began trading in Bitcoin as a means to pay for overseas acquisitions of supplements for his Townsville supplements store.

But in January this year, he decided to make investments in the currency and the strategy has paid off with the value of the currency soaring from about $900 to $6,000 during that time.

“We paid off the mortgage and bought a block of land at Townsville out of the profits. We are now building a new home,” Sloggett said.

A Second Bitcoin Fork Is Looming and Battle Lines Are Being Drawn

October 23, 2017 flippener

Bitcoin, Bitcoin Cash, and soon… Bitcoin Gold.

When a group of Bitcoin users and companies split the digital currency into two different versions in August, it was an unprecedented event in the technology’s nine-year history. Now just four months after that “hard fork,” as such splits are known, yet another version of the world’s most popular digital currency is scheduled to be created.

Within the next 12 hours, if all goes according to plan, techies and investors will be able to choose between Bitcoin (the original version), Bitcoin Cash, and the latest, soon-to-be-created iteration: Bitcoin Gold. As the deadline looms, Bitcoin companies and exchanges are taking sides on whether to support Bitcoin Gold or not.

While Bitcoin Cash focused on increasing transaction throughput, Bitcoin Gold aims to tackle the problem of decentralization. The algorithm that governs how Bitcoin and Bitcoin Cash “miners” create new digital coins for a reward has been monopolized by specialized (and expensive) hardware. Because of this, the average Joe or Jane has essentially no chance of making any money mining these currencies with their home computer. But Bitcoin Gold will use an algorithm known as “Equihash” which is designed so that people can effectively use their graphical processing units, or GPUs—common computer gaming hardware—to profitably mine the coin for the foreseeable future.

Bitcoin Gold Fork Coming: How To Double Your Bitcoins

October 21, 2017 flippener 1 Comment

It has been only 9 weeks since the Bitcoin Cash hard fork, and we are again discussing another Bitcoin hard fork.

In this article, I intend to cover everything you need to know about the upcoming Bitcoin hard fork and how to prepare and benefit from it by doubling you coin holdings.

Wowowow… double!!

Some of you may think this is a good thing as your value will also double!

Note: Doubling of coins does not mean doubling of value, because after a hard fork, the value of both versions of coins are determined based on user sentiments and demand/supply in the market.

So keeping that point in mind, let’s get started…

New Bitcoin Fork – Bitcoin Gold (BTG)

Bitcoin Gold is a new, would be cryptocurrency denoted, as of now, as BTG or “bgold”. It will be a fork of the original Bitcoin that Satoshi Nakamoto invented in 2008.

Bitcoin Breaches $6,000 for the First Time

October 20, 2017 flippener

Bitcoin soared to another milestone Friday, as the digital currency breached $6,000 for the first time to put its gain in 2017 to more than 500 percent.

As bitcoin continues climbing, Twitter users are speculating that the rise could be driven by everything from a cash shortage in Zimbabwe to an increase in margin trading. If one thing is for sure, it’s that speculation has a part to play in the top digital token’s latest surge.

The push higher comes just three days after bitcoin suffered its biggest one-day drop in a month on rising concern that regulators are increasingly targeting digital currencies. It’s added almost $500 in value in the past two days alone while reaching a record high.

The Bitcoin Gold Hard Fork Explained

October 18, 2017 flippener

Bitcoin Gold (BTG/Bgold) is an upcoming hard fork of the Bitcoin blockchain that’s scheduled to occur on October 25th.

Bitcoin Gold (Image: Bitcoin Investors UK)

Bgold has nothing to do with the yellow metal, so it shouldn’t be confused with BitGold, the gold investments and payments firm. Bgold is equally unrelated to both the previous hard fork, Bitcoin Cash (BCH/Bcash), which occurred on August 1, and the upcoming SegWit2X (S2X/Bizcoin) hard fork, which is scheduled for mid-November.

Why Bitcoin Gold?

Bitcoin Gold will alter Bitcoin’s proof-of-work algorithm from SHA-256, which is currently dominated mostly by Chinese ASIC miners, to the Equihash algorithm. Equihash is employed by the Ethereum, zCash (Classic), Zencash, and Hush cryptocurrencies. Equihash is mostly mined by graphics cards (GPUs).

A Bitcoin Beginner’s Guide to Surviving the Bgold and SegWit2x Forks

October 16, 2017 flippener

It looks as if Bitcoin will experience at least two more “coin-splits” soon, which (more accurately) will result in the creation of new coins.

On October 25, Bitcoin Gold (Bgold) will split off from Bitcoin to create an ASIC-resistant cryptocurrency. A few weeks later, a significant group of Bitcoin companies wants to hard fork according to the SegWit2x plan as defined in the “New York Agreement” (NYA), which will probably result in yet another new coin.

If this all plays out, there could be three distinct blockchains and three types of coins within about a month of publication of this article. One blockchain would follow the current Bitcoin protocol; for the purpose of this article, that coin will be referred to as “BTC.” The second blockchain will follow the Bgold protocol; in this article, that coin will be referred to as “BTG.” The third blockchain will follow the SegWit2x protocol; that coin will be referred to as “B2X.”

The good news is that each BTC will effectively be copied onto both the Bgold and the SegWit2x blockchains. If you hold Bitcoin private keys at the time of the forks, you should be able to access your BTG and B2X coins as well.

The bad news is that such forks can be somewhat messy and risky. If you’re not careful, it’s easy to lose your BTC or B2X, and maybe your BTG.

Here’s Another Reason Why Bitcoin Could Soon Hit $6,000

October 13, 2017 flippener

Bitcoin’s price surge following China is thanks in large part to Japan

It took less than a month for bitcoin investors to shake off China’s cryptocurrency crack down and Wall Street naysayers. On Friday, the price of bitcoin jumped within striking distance of $6,000 as optimism surrounding the cryptocurrency reignited thanks in part to traders using the Japanese yen.

That comes after the price of bitcoin shot as low as about $3,000 in mid-September, after Chinese authorities shuttered local cryptocurrency exchanges, while J.P. Morgan CEO Jamie Dimon dubbed bitcoin a “fraud.”

But it was neither the U.S. nor China, which have dominated the cryptocurrency markets since its inception, that apparently led to the price of bitcoin to come back up. Until recently, China has represented the majority of bitcoin trading since about late 2013. In 2016 alone, the Chinese yuan represented 96% of all trading with bitcoin, according to data from CryptoCompare, helping the price more than double that year. In fact, trading in China has been so heavy that since 2010, the vast majority of trades has still largely been dominated by the yuan.

Bitcoin for business

New Bitcoin Fork – Bitcoin Gold (BTG)

Why Bitcoin Gold?

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