Bitcoin and altcoins sees bull reversal ahead of chinese new yearbitcoin hits $9200
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That rally came, to some extent, at the expense of altcoins that had been on a mid-week surge. The altcoin markets were mixed on Friday with a handful of cryptocurrencies posting significant increases but the majority engaging in a retreat. The ripple price was one of the few altcoins to defy the prevailing trend. This nevertheless represents a single-day rally of 33 percent, and, significantly, enables ripple to command the third-largest market cap. To achieve that status, ripple surpassed two coins that had made mid-week rallies: Both of these cryptocurrencies, now ranked fourth and fifth, posted single-day declines of 12 percent.
IOTA and dash, meanwhile, each saw its price fall by six percent. Aside from ripple, cardano was the only other top 10 altcoin to yield investors a meaningful increase. The cardano price soared by 45 percent, catapulting this cryptocurrency into the eighth spot in the market cap rankings.
NEM posted a minor increase of three percent, and bitcoin gold took a 12 percent hit to round out the top Scott Cutler, senior vice president of eBay Americas, told Yahoo Finance that the e-commerce giant is holding serious discussions about becoming the highest-profile company to accept cryptocurrency payments.
Cutler added that the website serves as a popular secondary market for cryptocurrency mining hardware, and third-party sellers have listed thousands of other cryptocurrency-related collectibles. Although it does not appear that eBay currently has any concrete plans to adopt cryptocurrency payments, the fact that the company is holding high-level discussions on the matter is the latest testament to how quickly bitcoin has permeated the mainstream.
Last week, bitcoin brokerage app Coinbase briefly became the top app in the Apple Store, signaling that retail investors were onboarding into the bitcoin ecosystem at a breakneck pace — a pace so rapid that Coinbase has suffered persistent outages due to record traffic. This week, the first bitcoin futures contracts launched on U. Though primarily targeted at Wall Street, futures are expected to lead to the creation of the first Bitcoin ETF, a retail investor-friendly investment vehicle that can be easily held in brokerage and retirement accounts.
The next watershed moment will be when cryptocurrency becomes so ubiquitous that businesses commonly accept it as payment for goods or services. Earlier this year, CCN debunked a rumor that Amazon was planning to accept bitcoin. However, bitcoin remains an option for big-ticket items, and altcoins such as ethereum, bitcoin cash, and litecoin are practical options for small-value transactions.
Founded inNiceHash is a cloud-based crypto-mining marketplace that connects people from all over the world to rent out their spare computing power to other in order to create new coins.
On Wednesday, several NiceHash users reported that their BTC wallets had been emptied, which was later confirmed by NiceHash after its service went offline claiming to be undergoing maintenance. The company did not provide any further details about the security incident, but it did say that NiceHash has paused its operations for next 24 hours while it figures out exactly how many numbers of BTC were swiped from its website and how it was taken.
Following the security incident, NiceHash is recommending its customers to change their passwords—both on NiceHash and other services, if they are using the same credentials.
NiceHash is the latest cryptocurrency company to suffer a significant blow in recent months. Screenshots appearing on social media Thursday confirmed the move, which marks the first formal interaction between the resource and the technology. That means another bunch of people unfamiliar with it are going to be seeing it presented to them as an option.
This is slated in turn to produce more consumer options for its use, Craigslist nonetheless being the first major trendsetter in the classified space. Countering concerns about safety, another Reddit response explained how payment could occur in practice.
As prices continue to grow, however, many are now beginning to ask when the historic bull run will slow — or reverse. Will the old guard ever get a clue?? BTC will surpass that by the end of January. The world has split in half. Make sure you are in the half that embraces the new paradigm.
Just when Bitcoin miners thought mining on the phone and hydro mining were revolutionary, an owner of a Tesla S electric car model is using the free power from the supercharger of his vehicle to mine the leading cryptocurrency Bitcoin. To do this, the owner installed a Bitcoin mining computer in the trunk of the car. This is an interesting way to mine cryptocurrencies, but it could be very lucrative for the owner as his operating cost while mining the digital currencies is virtually zero.
His only major investment is the cost of the mining rig itself, as well as the associated equipment and accessories. The exploration of innovative and creative methods of mining Bitcoin and other virtual currencies is always a very interesting endeavor because of the continuous increase in the price of the digital currencies, particularly Bitcoin. The use of the superchargers of electric vehicles like the Tesla model could be a good idea, but some issues may arise.
Despite its great potential and possibly good profits, Tesla or other electric car owners should decide carefully if they want to use this approach to mine cryptocurrencies due to its potential adverse effects on the performance of their cars.
Those who want to mine digital currencies may also want to explore other approaches in mining like the use of renewable energies like solar panels. However, because they are still in the early phase of developments, these new technologies require a hefty upfront investment. Miners should be prepared to spend a large amount of money if they decide to mine Bitcoin using these methods.
Paying with traditional banknotes is on the decline as interest in contactless payments and digital currencies rises. How far are we from a restaurant that says we only take online payment? If you eat here, you have to download this application and we only take electronic payment, no cash here, no check. These feelings similarly mimic those of venture capital investor Tim Draper, who believes that digital currencies, such as bitcoin, will replace fiat currency in five years time. At a conference in Portugal, last month, Draper explained:.
In five years, if you try to use fiat currency they will laugh at you. Bitcoin and other cryptocurriences will be so relevant … there will be no reason to have the fiat currencies. According to Draper, the fiat system will eventually disappear as more people turn to bitcoin and ethereum.
He also believes that at some point all the digital currencies — currently numbering 1, — will interrelate making it simple to use them across borders compared to traditional money.
With the digital currency market increasing in value more interest will naturally turn to investing in them. Yet, even though bitcoin is rising in value, its acceptance at retail stores or even restaurants remains limited.
One country that has embraced bitcoin payments is Japan. In May, it was reported that aroundretailers and companies in the country may accept the digital currency in Mastercard has recently filed a patent for instantaneous payments using Blockchain technology.
The patent appeared in the US Patent and Trademark data system dated the 9th of this month. The patent makes clear that Mastercard intends to use Blockchain technology to create a system where merchants can receive guaranteed instantaneous payment rather than waiting for multiple days before credit card transactions can be verified and then paid by card issuers.
According to the filing:. Mastercard has already shown a strong interest in the technology, filing previous patents and announcing other Blockchain related solutions.
However, the company has also been ardently opposed to Bitcoin, with the CEO even making disparaging remarks against the cryptocurrency. This most recent announcement only highlights the level of intensely negative feelings toward Bitcoin among institutionalized finance departments, all while embracing the technology it is built on. The debate about the effects social networks like Facebook and Twitter have on us as human beings goes one.
That attention-grabbing is all about getting as much data from the user about their preferences, but ultimately is also showing them adverts while they trawl the feed. But what if we literally got paid for our attention in crypto currency? In terms of functionality, the mytime protocol is similar to existing cryptocurrencies such as Ethereum, Plasma and EOS.
But this is an open blockchain-based platform that converts time spent by a person on a particular service or app, into cryptocurrency. The idea is that companies can reward their loyal audiences while saving on transaction and marketing costs, and users get to spend the crypto how they want.
Imagine if content networks like news sites paid you to see their content instead of forcing you to see ads? Perhaps we would have a different kind of media. Users can use the tokens to pay for other services from other companies using time the mytime platform or convert them to fiat currency via exhanges. We expect the increasing number of users and the intensity of transactions to contribute to a flourishing mytime economy, boosting the value of MYTC.
Some examples might be a video game player getting MYTC for every minute spent in a game, the reading of a newspaper website, or a taxi passenger getting tokens for using a taxi which also uses MYTC. The startup has created its new protocol to do two main things. Firstly, it validates user time spent. Secondly, it protects the platform from abuse.
The whole system operates on two parallel blockchains: Token transfer occurs on the MYTC online wallet. They are joined by Alexander Garkusha co-founder of ModernToken who also participated in creating a whitepaper for the Ethereum ICO who is a technical adviser of the mytime platform. Ethereum Price Sees Post-Surge Stumble That rally came, to some extent, at the expense of altcoins that had been on a mid-week surge. Altcoins Skew Negative The altcoin markets were mixed on Friday with a handful of cryptocurrencies posting significant increases but the majority engaging in a retreat.
Cryptocurrency Enters Main Street Although it does not appear that eBay currently has any concrete plans to adopt cryptocurrency payments, the fact that the company is holding high-level discussions on the matter is the latest testament to how quickly bitcoin has permeated the mainstream. What do you think about Craigslist adding cryptocurrency support? Let us know in the comments.
Some issues on the innovative Bitcoin mining strategy The exploration of innovative and creative methods of mining Bitcoin and other virtual currencies is always a very interesting endeavor because of the continuous increase in the price of the digital currencies, particularly Bitcoin.
At a conference in Portugal, last month, Draper explained: According to the filing: