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Trade or Mine: Which Should a Beginner Choose?

For the most of cryptocurrency investors, there are two methods to obtain digital currency — mining and trading in exchange. For a majority of beginners, however, they don’t know which one to choose to start up. At the beginning, some players who know computer well have CPU installed and downloaded a software to calculate the subject then to generate  bitcoin value . Nevertheless, the amount of block is unchangeable, which means the more the people involved to solve the blocks, the less chance to capture bitcoin. Nowadays, people prefer mining in farm rather than by mining rigs. The costs for either farm or rigs miners, are to purchase devices and electricity bills. The risk therefore conditions much lower than trading in exchanges. However, you have to buy mining rigs and be aware of the time it costs if you intend to mine. The mining rig operates until  bitcoin currency  is captured, which will increase the cost. Besides, mining becomes much more difficult becaus...

Should we continue to invest in Bitcoin?

There is a lot of discussion  about the future of digital currency . Actually, it ’ s hard to predict it, but its heat will remain continually. One of the reasons that digital currencies are becoming more and more popular is blockchain technology, which is the main technology behind the digital currencies. If you have heard of a kind of cryptocurrency, it may be bitcoin. BTC  is the most famous and oldest digital currency which is still dominant in digital currency market. Therefore, if bitcoin price  increases as it did in 2017, investing it in 2018 will be a good option. The price of Bitcoin varies from day to day, and in the past few years, its prices have set new records repeatedly. As the other digital currencies involved in cryptocurrency market, such as Stellar , Ripple, NEM , bitcoin is no longer the only one prominent currency in the market. How to decide the best time of investment as Bitcoin price changes in such short time? We can find the answer ...

What do you think of the Bitcoin decline?

On 23 rd , May(Chinese time), it was showed that the price of 1 bitcoin to usd  declined to $8200, $8100, and $8,000 USD successively, slumping over $400 USD in 24 hours, even decreasing to $7986.80 USD. The economist, Robert Shiller mentioned that considering the bitcoin drop ,  the development of bitcoin is likely to fail as well-known monetary experiments in the past. Cryptocurrency may be another unsuccessful attempt at currency reform for more than a century. While Joe Davis, economist of Vanguard Group, a fund investment giant, also claimed that it is possible that Bitcoin price will return to zero. It is reported by CNBC that Schiller, who used to accurately predict the housing bubble and Internet bubble, issued a warning on the blog on Monday. He believed that Bitcoin is like some monetary experiments in history, which eventually ended with failure. Besides, Davis, a senior economist at Vanguard Group, wrote to ETF.com that Bitcoin currency  is not a ...

Why does bitcoin stand out from thousands of cryptocurrencies?

Bitcoin is the first distributed account book  successfully deployed through the blockchain.  Since it was established, many other projects have replicated this technology and have achieved success in a way. With the upgrades of Segwit and Lightning Network, the efficiency of the Bitcoin blockchain will greatly increase. This top one cryptocurrency is the core of emerging fintech reform, which has become the driving force of financial market reform. It was reported recently that the increase of users of Square app surpassed Venmo, the digital wallet of paypal. In Africa, Bitcoin is the core of the development of financial technology, and many remittance and payment platforms provide Bitcoin products, although Bitcoin market  have the same high volatility as the cryptocurrency market. Therefore, payments become more convenient and ease the pressure of millions people who cannot accept banking services. Bitcoin price now  is unstable. However, it showed it...

Iran intends to fight against the American sanction through Bitcoin

Two days after Trump announced that the United States will withdraw from the The Iranian nuclear deal, the Treasure Department of United States declared to implement a new round of sanction against Iran on 10 th , May. It is reported by Forbes  that the Iranian intend to fight against the economic blockade from America by b itcoin . Currently, 2.5 billion U.S. dollars have been transferred out of the country. Although the Iranian Central Bank issued a ban in April about cryptocurrency to prohibit banks in the country from processing Bitcoin services and promoting cryptocurrencies. However, according to Mohammad Reza Pourebrahimi, the chairman of the Iranian Economic Commission, by now, Iranian citizens have spent 2.5 billion U.S. dollars to buy btc  and transfer the money abroad. Although the action will lead to capital outflow and aggravate domestic economic crisis, Iranians may still continue to transfer funds by Bitcoin, because of the high   bitcoin value . S...

Essentially, how will bicoin price develop?

Essentially, the price fluctuation of any commodity or investment reflects the change in the market supply and demand.  Bitcoin price  is no exception. The main factor affecting its price is the buyers and sellers in the market. As bitcoin is a new concept and has not become a legal and recognized currency yet, as well as the function of the currency has not been showed fully,  bitcoin value  is controversial, and its development in future also is doubted. All the reasons above will become the important factors that affect the price fluctuations of Bitcoin. The attitudes of national governments to  Bitcoins Bitcoin price may decline when a country announces to prohibit or guard against Bitcoin and its related business activities. On the contrary, if a country, especially an influential country, enacts some policies to support bitcoin, its price may rise. The examples that Germany regarded Bitcoin as a legitimate financial banking tool and the US Federal Co...

San Francisco Fed: The launch of bitcoin futures lead to the declining price on 17, December

San Francisco  Fed   released  an economic letter on 7, May,  stating the reason why   Bitcoin  price  fell after peaking at 20,000 US dollars . It may because of Bitcoin futures trading.   The letter showed that after the promotion of the futures market, it seemed that the rapid rise and decline was not coincidental, but it is consistent with the trading that introduced by futures market. The highest price of Bitcoins  coincides with the Bitcoin futures launched by the Chicago Mercantile Exchange (CME) in mid-December last year. A week ago, the Chicago Board Options Exchange (CBOE) also launched Bitcoin futures, although the trading was not so good as prediction. According to the letter, the optimistic investors believe that btc price  will go up, which is the only reason why the price of Bitcoin has soared. Sustained growth has been attracting more optimists, who increased the demand. Pessimists don't have the tools av...