Category Archives: Cryptocurrency

Zero-fee Crypto Trading on Robinhood Crypto Platform

The application for stock trading Robinhood launched a crypto trading service. Users are able to sell and buy Bitcoin and Ethereum with zero commission.

Trading on Robinhood platform is free. Such priorities are few and far between other crypto exchangers. For example, the Coinbase exchange takes between 1.5% and 4% for its services.

In the Robinhood Crypto section, users are able to transfer up to $ 1,000 from their bank account. After that, the application will independently select the most favorable exchange rates and convert dollars into cryptocurrency, or vice versa. Previously, the customer can set a limit on the acceptable cost of Bitcoin and Ethereum. If the rate does not fit into the limit, then Robinhood will not conduct the operation process. In this way the company plans to reduce the risks of high volatility of the cryptocurrency.

robinhood-app

Also, specifically for crypto investors, Robinhood developers added 24-hour tracking of the 14 most popular cryptocurrencies and other news related to crypto market. The service is already available in the application. Online platform Robinhood allows residents of the United States to buy and sell shares of public companies with no fee. For comparison, brokers take an average of $ 7 to $ 10 per transaction.

Representatives of Robinhood do not hide that they launched crypto trading in order to attract new users to their basic services. According to Bloomberg, in the first hours after the announcement, more than 150,000 people joined the Robinhood Crypto system.

 

At the beginning, the new service is available only for residents of California, Massachusetts, Missouri, Montana and New Hampshire, but eventually the list of states will expand.

 

Advertisements

NEO Cryptocurrency

What is NEO?

NEO is the first Chinese blockchain-project with open source, launched in August 2017 by developer Da Hongfei. But the history of the project began 3 years earlier.

In 2014, Da Hongfei created the blochain company OnChain in Shanghai and launched a cryptocurrency project called AntShares. OnChain’s main task is to create a new financial system that unites the real and virtual economy.

Because of the emphasis on smart contracts, ANS was even called the Chinese Etherium. Inspired developers decided to take a desperate step – complete rebranding. They wrote new technical documentation, updated the nodes, changed the site and conducted a large-scale ICO to raise funds for the launch of the updated and improved ANS.

In September 2016, the world saw NEO – a new cryptocurrency, capable, according to the creators, to surpass even Ethereum.

How does NEO Work?

In OnChain stated that the main goal of the company is not to issue another crypto currency, but to create a new model of economic relations between people. They call it Smart Economy and distinguish three main components: a platform for executing smart contracts, digital assets and digital identification. All of them are implemented in NEO technology.

For example, you can digitize documents for real estate and sell it for cryptocurrency, without involving legal or other intermediaries in the transaction.

The developers emphasize that with the help of NEO it is possible to digitize and change different assets: gold, car, houses, etc.

NEO is, above all, an innovative economic project, and its token is a tool for implementing the idea of ​​an integrated economy.

neo_1

The Main Advantages of NEO

Excellent technical capabilities. The platform uses its own virtual machine NeoVM, which allows you to quickly launch even the most complex contracts. The theoretical bandwidth of the network is 10,000 transactions per second

High reliability. NEO has an enhanced dBFT protocol that effectively protects the system from most known cyber-attacks.

Easy to write smart contracts. Unlike Ethereum, which uses the exceptionally complex programming language Solidity, NEO supports Java, F#, C#, Kotlin, VB.Net, Microsoft.net, Go and Python.

Simple mining. Mining does not depend on the technical capacities of the miner.

Does NEO have problems?

Of course, it has.

Users have two main claims on NEO – lack of anonymity and pseudo decentralization. According to the developers, the exchange of digital assets cannot be anonymous – all transactions must be open and transparent.

OnChain has direct access to the transaction history and can quickly track any transaction. Developers control more than 60% of all NEO blockchain-nodes.In future, OnChain plans to cooperate with state structures and the Chinese government.

Is It Worth Investing in NEO?

Although many users are unhappy with the OnChain policy, most experts agree that NEO is a very promising cryptocurrency with a brilliant future. Why?

  • NEO offers innovative technical solutions that make the use of the platform more convenient.
  • NEO implements the technology of smart contracts, in which many see the future of the whole blockchain.
  • Corporations with a worldwide reputation are investing their money in NEO: Microsoft, Alibaba, HyperLedger, LegalChain, Wings, etc.
  • According to analysts, OnChain has every chance to make NEO an official currency in China. And this is one of the largest cryptocurrency markets in the world.

Why Cryptocurrency Has Value

What influences the price of Bitcoin and other cryptocurrencies?

In comparison with fiat currency, the crypto has some advantages. This is because over time, money is inflated. And the Central Bank plays a big part in it. Cryptocurrency is eventually exposed only to the reverse process – deflation. This is influenced by the constant growth of world production and its limited volume in the market. Thus, it generates demand, which determines the price of the cryptocurrency.

crypto-796x478

Why is cryptocurrency becoming more valuable?

First, it was really difficult to realize that not only the state is able to issue money. However, imagine that we actually accept a monetary unit as payment for a good or service only because there is certainty – other market participants will accept these funds and provide their services respectively.

cryptocurrency-600x398

Why cryptocurrency has value?

Careful consideration of the system’s operation, its protection from the inflationary process and the absence of the fraud possibility raise the popularity of the cryptocurrency. Demand was also generated with the initial desire of some participants to sell their services and products for this currency.

After the world system abandoned the “gold standard”, money began to depend on the states’ production capability and the policies of their governments. Cryptocurrencies do not have such uncertainty.

0*JQyzRVjxc8a6q45T.

What determines the price of the crypto:

  • The limited demand and supply;
  • Use of the blockchain system;
  • The utility of the currency, its ease of use and storage;
  • Perception of its value by the public;
  • Its cost;
  • Media opinion;
  • Investors’ deposits;
  • Fraud impossibility;
  • Innovation;
  • Anonymity.

Due to the fact that the cryptocurrency is a developing market, due to the changes it imposes on the financial system, the market is still unstable. In combination with many of the above factors, the price of a digital currency can quickly grow and fall, which makes it a risky investment without proper research. However, the advantages make it suitable for payments processing and investing. The latter was actually one of the initial intentions of Bitcoin.

Simply about Blockchain

If you have not spent the last couple of years in a hermitage, you’ve probably heard about bitcoins and blockchain. Now, even schoolchildren are actively engaged in mining. Let’s try to figure out what is really blockchain and why everyone is going crazy.

The heart of the matter

Blockchain technology is primarily designed for secure storage of data. Here you can store any important information, from credit obligations to new currencies. The reliability of the entire structure is due to the fact that the register of data is not concentrated somewhere in one place but is distributed among thousands of users around the world. Thus, the very possibility of a hacker attack and some kind of clandestine manipulation of information is excluded.

Cryptography

Actually, the blockchain is just a chain of cryptographically connected blocks. A new block is added to the end of the whole chain, all blocks together are connected by mathematical algorithms. This technology can be used not only to record financial transactions, but for everything that has value.

Hashing

The hash function is a special algorithm that takes input data (any, from image to binary code) and creates from it a code sequence of a specific length. Same files will produce the same hash on the output.

Database

The easiest way is to imagine the blockchain as a kind of database, duplicated tens of thousands of times throughout the network. The database is updated constantly, which ensures transparency and verification of information.

Safer than bank

That sounds ambitious, but according to many experts, the blockchain really became the guarantor of information accounting. The use of this technology excludes the influence of the human factor on the outcome of the transaction: without the agreement of the parties involved, even changes to the general register of data will not be made.

Protection against intrusion

Copies of the database are kept on all participating computers. Decentralised system makes hacker attack impossible. In addition, the hashing process is irreversible, which allows reliable security of personal data: an attempt to change a transaction or an original document will result in a new hash, different from the existing one in the system.

 

How does Cryptocurrency Work

Bitcoin is a decentralized cryptocurrency. Its emission is not controlled by any state, transactions are transparent and anonymous. The system is securely protected, it is simple and at the same time extremely complex. In a couple of years, the cryptocurrency and mining are spreading all over the world.

Who Invented Bitcoin?

The history of the Bitcoin creation is ambiguous, intriguing and mysterious. The author of the cryptocurrency is the ephemeral Satoshi Nakamoto – an Internet user (or a group of users) who published an article on cryptocurrency in the mailing list at the end of 2008. They described the digital peer-to-peer currency. At the beginning of the next year Nakamoto released the first software for working with cryptocurrency.

81630ISHOKL._SY450_

Bitcoin Basis

  • Hash function. A mathematical transformation by an algorithm that turns any set of information into a unique number-letter value of a certain fixed length – a hash. Something like a cipher. Even a small change of one character in the original data set, causes the output (hash) to change drastically.
  • The key element of the bitcoin system is a blockchain. It is a chain of blocks where information on transactions in the network is stored for the entire time of its existence. A copy of this unique database is kept by every member of the system, gradually and constantly updated due to the receipt of new blocks.

Blockchain , Distributed ledger technology , bitcoin concept. Electric circuit graphic and infographic of Block chain , network connect , security , binary coded icons.

Why is It Safe?

What happens if someone decides to change the transactions in the block and cancel the money transfer or change the addressee? He can do it, but then the hash of the block will change. A new branch will appear in the chain.

To fix its fraudulent block, a hacker will have to solve a new task in 10 minutes faster than others. And one can not solve it beforehand by building blocks, because the solution depends on the hash of the previous block. Thus, an attacker will have to own at least half the power of a Bitcoin network, in order to solve a new task with 50% probability and build new blocks. All in all, this is practically unreal and completely unprofitable.

How are Bitcoins Mined?

Performance diagrams of the network clearly demonstrate that video cards are not of the utmost importance in the field of mining. CPU left this niche in 2011, GPU – in 2013. Now the Bitcoins are mined on the application-specific integrated circuits (ASICs), which are exclusively for the hash calculation. Nevertheless, lots of other cryptocurrencies are still being mined on video cards.

BN-WY339_3lA87_OR_20180111012207.jpg

When Cryptocurrency will Crash

When will Bitcoin crash? Here is a question that interests those who mine and buy cryptocurrency in the hope of gaining huge profits.

There are several possible reasons why the Bitcoin rate will fall to a critical level or even the digital currency will completely disappear:

  • Other currencies

Bitcoin gave us the blockchain technology, and we are grateful for that. However, the blockchain is constantly developing. Therefore, there are already a lot of cryptocurrencies on the market, based on the constantly improving technology.

1*TY0eUcLT6us5Jz1VT1Tymg.jpg

  • Hard mining

Nowadays it is not easy to enter the mining for the average person as Chinese giant warehouses are producing great deal of Bitcoins. Moreover, the electricity expenses sometimes exceed the cost of the digital currency itself.

  • Absence of leader

Bitcoin was invented by the mysterious Satoshi Nakamoto, who now disappeared altogether. It is known that he or she is hiding from investigative agencies all around the world. Now all decisions about the future of the cryptocurrency will be taken by the community of miners and coders. However, it is difficult for them to concur even on small issues. Other currencies have leaders.

1*yZlzaYpn2X7dPEKbpA7gKQ.jpg

 

  • Doubts

If Bitcoin is discussed on TV, the price for it fluctuates with an amplitude of several hundred dollars. If at least a hint at the collapse of Bitcoin appears in the miners’ community (that it becomes illegal or it can be infected with a virus), the price will drop in a wink, because everyone will rush to sell it.

bitcoin

  • Cashing

Large companies do not accept Bitcoins. They can be cashed only through intermediaries, because there is no free conversion of Bitcoin. And if someone steals your Bitcoins, then the police will not help you.

Actually, it is not possible to predict a more or less accurate date for the fall of Bitcoin for one of these reasons. However, one thing is sure enough – the fall is inevitable, and everyone can wait for it in the foreseeable future.

Bill Gates: Cryptocurrency Kills People

The philanthropist and billionaire Bill Gates criticized the cryptocurrency market in response to the Reddit AMA (“Ask me about anything”). One of the users of the forum asked the co-founder of Microsoft how he treats to cryptocurrency.

 “The main feature of cryptocurrencies is their anonymity. I don’t think this is a good thing. The Governments [sic] ability to find money laundering and tax evasion and terrorist funding is a good thing,” – wrote Gates.

At the same time, he accused the cryptocurrency of real people deaths.

One of the users of Reddit replied to Gates that everybody can buy fentanyl for cash. Bill Gates denied this statement because cash payment requires a personal presence that creates more risks for the offender.

 “Right now cryptocurrencies are used for buying Fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way,” – Gates stated .

The opponents of Bill Gates noted that any currency carries the same risks as cryptocurrency.

During Reddit AMA, Bill Gates expressed his views on other technologies as well. He believes that GMO products can save the population from hunger and provide a good nutrition. “GMO-based food is absolutely healthy,” – said the billionaire.

He accomplished the distribution of electric cars and drones, but sceptically estimated the prospects of the network of vacuum trains Hyperloop, proposed by Elon Musk.

« Older Entries