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How Bitcoin is a boost to the IT Industry Worldwide

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IT world keeps changing always and what is better to than to tell that digital currencies like bitcoin changes it even more, for the better or worse.

IT world keeps changing always and what is better to than to tell that digital currencies like bitcoin changes it even more, for the better or worse.

 

Following are some reasons how bitcoin boosts the IT industry:

Bitcoin for Payments

Payments among many IT industry has always been changing with many changes in policies where payments are made from other countries or any other mode of payments by making the amount to be paid high which cannot be sent quickly and with the IT crimes it is even more fearing to send this big amount of money through transfers and this brings the industry more towards digital cryptocurrencies especially like bitcoin which is the best among them.

 

Bitcoin Market capital

The market capital of a cryptocurrency is always higher and it is explaining its worth in many different ways by its features and usage. Changes keep happening in cryptocurrency and when player like bitcoin comes into the market they give a very good kind of gesture in the methods and process of the IT industry and allows more companies with the largest share of cryptocurrency to transfer money without any obstacles and requiring very less power of computation too. Bitcoin revolutionises the market as we know it.

 

Quality of Bitcoin

Bitcoin has the potential when it comes to terms of assurance its gives for quality. Companies can link many parts of their supply chain and other operations to make it easier to solve problems and arrive at solutions and in cases like this bitcoin have a feature of immediately sorting of the issue.

Not just as money but as also in terms of process and the value it gives to the process that take place within the company by just using this cryptocurrency makes sure that the right quality is delivered at the right time and right place.

 

No backing out

In IT industry sometimes, projects are closed or terminated without payments through bank transfer or cash but bitcoin payments put a full stop to that as once paid it is irreversible. It may be a bane in certain cases but it is definitely a boon to companies when they have clients who back out without paying or paid and cancelling the transfer before the money reaches after they get their job done.

 

No requirement of permission

When someone or some company wants to build a financial operation with bitcoin then bitcoin does not require any kind of permission to be given or waited for transfer. This also fosters innovation too as payments can be made for all requirements needed without wait and this leads many processes to complete faster and also gives opportunity to many people who are waiting in line to get their projects and ideas started.

 

Privacy

With the changing technology and world privacy is something that comes at very high price and sometimes even at high prices one can find it so hard to have some kind of privacy. With improving technology in IT industry many new inventions are made which require high levels of privacy in terms of money and announcements too. Often private projects are found when transactions are made. Bitcoin puts a full stop to this trouble and comes up with a big solution by providing high levels of privacy. There is no central command or authority over bitcoin by anyone.

Bitcoin is providing confidential transaction / zero cash now and working on it for better privacy and implementations.

 

Borderless

Any transfer anytime any place any amount is being possible with bitcoin. It can be transferred from any country to country without even having access to the internet and in some cases even without internet availability.

No matter the distance or the occasions transferring of funds and money have never been faster and easier as the speed it takes to transfer using bitcoin cryptocurrency.

 

Smarter decisions

With bitcoin companies are able to make smart decisions by making way for the company to handle big projects with large amounts of money transaction to take place without any confusion and delay. With bitcoin the companies get the chance to think quick and act fast with their decisions and also rectify their mistakes quicker for the better and be better the next time.

 

Supply chain

Bitcoin can have list of resources being handled through it within the organisation. It can keep a maintenance of what comes in and goes through the means of its transactions.

Bitcoin destroys the old traditional methods of transaction and especially the record keeping part. It changes everything as we know and in the field of IT where constant changes is prominent, bitcoin adds more change to it. The best feature about bitcoin is that the companies do not need to understand how it operates in order to use its features and use them for their transactional purposes.

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Can Cryptocurrencies be the solution for the 2020 predicted US Recession?

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JPMorgan Chase has predicted a 60 percent chance for the next US recession to happen by 2020. Can crypto be a viable solution to existing stores of value?

JPMorgan Chase has predicted a 60 percent chance for the next US recession to happen by 2020. In a global market crash, can crypto be a viable solution to existing stores of value?

“The probability of a U.S. recession inside one year is right around 28 percent, and rises to more than 60 percent over the next two years, researchers wrote in a note this week. Over the next three years, the odds are higher than 80 percent, as indicated by the note,” Bloomberg reported.

 

Why Do Experts predict a Recession?

As indicated by the Federal Reserve Bank of New York, there exists a mere 14.5 percent chance of a recession happening before the end of 2019.

Stephen Stanley, the chief economist at Amherst Pierpont, suggested that 2020 could be considered as a premature period for the next US recession to happen yet he echoed a comparative sentiment to JPMorgan in that while the US economy remains solid with low unemployment rate and a bull market, the danger of a recession in the years to come exists.

Generally, the larger part of economists in the US forecast a recession to happen in the next a few years. David Altig, Federal Reserve Bank of Atlanta research director and NABE’s survey chair, disclosed that 66% of business economists in the US expect the market to crash before the end of 2020, for the most part, due to trade issues.

“Trade issues are clearly influencing panelists’ views,” Altig stated, expressing that trade issues and high-interest rates imposed by the Fed leave US markets vulnerable to a mid-term crash.

 

Is Crypto the solution?

Amid a period in which numerous economists forecast a market crash and a noteworthy recession in the next two years, the demand for crypto has increased quickly.

While not portrayed by the prices of significant cryptocurrencies, financial institutions, for example, Fidelity, Goldman Sachs, and Citigroup have established the infrastructure to target institutional investors intending to invest in the advanced asset market.

Banks and investment firms have prevented from establishing businesses in the cryptocurrency sector due to the absence of regulatory certainty in the market. Experts have stated that the suddenly emerging trend of major financial institutions entering the crypto market suggests the demand for crypto from investors in the traditional finance sector has increased quickly in the previous several months.

As Jim Hamel, portfolio manager at Craftsman Global Opportunities Fund explained, the computerized payments industry has experienced exponential development in recent years, which could normally lead investors to cryptocurrencies.

“There are a number of tailwinds adding to this trend. In the first place, we’re seeing fast development in e-commerce, which requires that customers be able to make secure advanced payments. The development in cross-border transactions and the general effect of an increasingly globalized marketplace are helping accelerate this trend.”

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Bitcoin Core Client Controvercy, BitMEX vs Bitcoin Core Client

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The Bitcoin Core client has always been in the news for its controversies or bottlenecks. Therefore, it is a fantastic step taken by Bitmex.

Why do we need updates concerning Bitcoin clients?

Bitcoin has many controversies revolving around it, and so does Bitcoin Core Client. However, history has been evident that the one which is the most valuable is also the most controversial one. To keep up with the changing times, many upgradations have been done to the Bitcoin skeleton. Many updates regarding the Bitcoin transactions. size of the Bitcoin blocks etc, to keep the Bitcoin network viable enough to be used.

 

What is Bitcoin Core client?

A Bitcoin client is a node which is required by every user who wishes to join the Bitcoin network. He or she is enabled to initiate transactions on the network as the client provides a Bitcoin wallet. There are various versions of Bitcoin clients which have been developed until now, and Bitcoin Core is the third in the list. Initially designed by Wladimir van der Laan, it requires the availability of the entire Bitcoin ledger to use its services which approximately accounts to 155 GB. However, this particular Bitcoin client has been under constant controversies for various reasons, since its inception.

 

Hardships faced by the Bitcoin Core client

Bitcoin core client was initially known as just Bitcoin. To avoid confusion, its developer decided to rename it as Bitcoin Core, but he faced a lot of criticism as people believed that this was against the idea of decentralization. Nevertheless, many Bitcoin enthusiasts supported the idea. Although Bitcoin Core governs the consensus rules of the Bitcoin network, it is not as powerful as it seems. One can very quickly shift to other Bitcoin repositories if the client becomes inefficient. This was evident when many Bitcoin enthusiasts, slipped from Bitcoin Core to Bitcoin UASF, in 2017 during the block size war.

 

Bitcoin Bitmex Research to dethrone Bitcoin core client

Bitmex has come up with a unique idea of initiating a dedicated Bitcoin client to compete with the Bitcoin Core. In their official blog post, the company also explicitly mentioned that it was solely doing it to eradicate the belief from the minds of people that Bitcoin Core controls the Bitcoin network. Specifically, it is a soft fork of the Bitcoin Core implementation. Therefore, the users need not worry about, the Bitcoin Core getting tampered, as subsequent improvements can be initiated with the new Bitcoin Bitmex research. Bitcoin Core client was considered as an excellent influencing authority which controls the market price of Bitcoin, but it is the end users to manage the Bitcoin network as designed by Satoshi Nakamoto.  

 

Lethargic attitude of developers of the Bitcoin Core client

The Bitcoin Core client is highly inefficient as the network requires the synchronization of the entire blockchain, which is enormous. Therefore, many users have been complaining in this particular regard, as it took some of them, days together to complete the process. More recently in September 2018, the Bitcoin Core client was once again in the LimeLight for it’s a critical bug which was discovered two years back, in November 2016. The problem was so delicate that would have led to a complete crash of a particular node if left unchanged. The developers took the matter seriously only now, and have updated the version by fixing the bug, from versions 0.14 to 0.16.3.

 

Bitcoin Bitmex research would be there to serve people

The Bitcoin Core client has always been in the news for its controversies or bottlenecks. Therefore, it is a fantastic step taken by Bitmex which has recently announced to release a dedicated client, Bitcoin Bitmex Research. This would be a great sigh of relief, as the customers would be less vulnerable to illicit activities that happen in the Crypto space leading to the losses of funds. Therefore, for the people who are looking forward to the Bitcoin Bitmex research client, some amount of patience is inevitable, as developers are still in the process of developing it.  

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Bitcoin: Long Term Trading Signals 22 Oct

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Bitcoin is in consolidation and trading between $6700 in the upper supply area and at $6250 in the lower demand area of the range.

LONG-TERM Trading Signals for BTC/USD

Bias for Bitcoin (BTC) – Ranging

Resistance Levels- $6800, $6900, $7000

Support Level-$6100, $6000. $5900

 

Bitcoin is still in a range-bound market on the long-term outlook. The struggle for the market control between the bulls and bears remains obvious. The bulls progressive movement that started on 12th October after the spinning top saw BTCUSD at $7788 in the supply area on 15th October. This led to the break of the upper resistance area and the 200-EMA.  

The bears’ pressure forced the candle to close at $6742 within the range and below the 200-EMA. BTCUSD was down to $6511 in the support area on 20th October due to the sustained bearish pressure.

 

BTCUSD chart

BTCUSD chart

 

The formation of a bullish railroad on 20th October indicates the bulls gradual return.  Should the daily candle of 21st October close bullish, it will suggest the bullish pressure within the range will be stronger as price sits above the 34 EMA

Bitcoin is in consolidation and trading between $6700 in the upper supply area and at $6250 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area is imperative. To flow with the trend, traders should be patient to allow this to take place before taking a position.

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