Connect with us

Adoption

Its time for another Bitcoin Hype? Crypto adoption on a rise

Published

on

More youthful individuals will probably be attracted by the "Bitcoin fever" than their more seasoned, more hazard disinclined partners.

In a report by U.K. newspaper,, it is guaranteed that 37 for every penny of those younger than 35 have an arrangement to invest in cryptocurrencies such as bitcoin eventually. In the interim, a third have just invested and plan to take up greater positions at a later date. These figures come graciousness of the riches manager Rathbones.

 

As you’d anticipate from a by and large preservationist, foundation commending paper like the Transmit, the report is to a great extent centered around the dangers these youths are taking with what’s to come. Different “master” assessments are advanced about the idea of Bitcoin investors and the more youthful statistic that appears to be more open to the beliefs of free money.

 

One such source refereed to by the daily paper is Robert Szechenyi of Rathbones. Szechenyi states that more youthful individuals will probably be attracted by the “Bitcoin fever” than their more seasoned, more hazard disinclined partners.

 

In the mean time, social researcher Jessica Exton claims that youngsters have more craving for chance and were more arranged for mechanical advancements to affect their lives. As opposed to find some hidden meaning of Exton’s announcement, the Transmit has turned the story to recommend that more youthful investors are being hoodwinked into trusting that Bitcoin is the eventual fate of cash and that their investment would keep on growing.

 

Be that as it may, in opposition to the view accelerated by the production is the tribute the creator has refereed to. Lucy Barnes, 23, is a youthful investor keen on the innovative and societal ramifications of cryptocurrency. As opposed to playing reckless with her future, Barnes made an unassuming investment in Ether and Litecoin in July 2017.

 

Obviously, Barnes noticed the admonitions not to invest more than she could bear to lose, since the aggregate she chose to use to get tied up with crypto was simply £200. This has since quadrupled in esteem and has come back to close to the first esteem. In any case, Barnes is as yet hesitant to offer. For the greater part of her investing, Barnes favors a Lifetime ISA.

 

Regardless of being utilized to outline an article about heedless cryptocurrency investments from adolescents, Barnes’ investment is not really going to monetarily destroy her in a similar that the article’s title infers. She states:

“They will never be my primary investment, however I am quick to take a gander at alternate cryptocurrencies and might want to invest in them more eventually.”

 

As opposed to muse over the likelihood that millennials, with their innovative foundations, may be better put to pass judgment on the potential effect of cryptocurrencies, the distribution paints the drained old story that Bitcoin and other digital assets are devices for hypothesis as it were. They refer to the dooming expressions of Patrick Connolly of Pursue de Vere to support this:

“You are just liable to invest in cryptocurrencies on the off chance that you trust the publicity, however by far most of individuals who invest in anything since they trust the promotion wind up painfully frustrated and vigorously out of pocket.”

 

However notwithstanding the article’s snap snatching title of “Youthful savers in danger of enduring mischief from ‘Bitcoin furor‘, specialists caution”, no precedents of adolescents making excessively dangerous, theoretical investments in Bitcoin were really refereed to. Sounds like a great instance of prevailing press scaremongering, to be completely forthright.

Continue Reading
Advertisement Cryptocurrency & Blockchain Domain Names
2 Comments

2 Comments

  1. Pingback: Its time for another Bitcoin Hype? Crypto adoption on a rise - Satoshiuncle

  2. Pingback: Its time for another Bitcoin Hype? Crypto adoption on a rise – The Coinage Times

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

#Rumor

Ebay: No Plans of Accepting Bitcoin, Cryptocurrencies

Published

on

eBay has responded to the ongoing rumors that they are going to start accepting cryptocurrencies as a payment saying that they have no plans to do so.

eBay has responded to the ongoing rumors that the e-commerce and online auctions website is going to start accepting cryptocurrencies as a payment saying that they have no plans to do so.

 

eBay to accept cryptocurrency payments? Not Yet!

The rumors started to spread throughout the cryptocurrency industry after photos of the advertisements of eBay the Consensus event went viral. The advertisement read: “ Virtual Currency. It’s Happening on eBay.”


People were linking the current sudden bullish trend in the price of bitcoin to the e-commerce giant and online auctions site preparing to accept cryptocurrency payments.

 

The adoption of cryptocurrency by eBay which quotes itself as the world’s largest marketplace would have been a great move towards mainstream adoption and thus everyone around the cryptocurrency space was busy discussing the rumor. However, according to a recent report published by Bloomberg, eBay has denied the rumors saying that it has no plans to start accepting cryptocurrency payments.

 

An eBay spokesman said in the report that cryptocurrency (such as bitcoin) is not accepted as payment on the platform and it is neither the part of their payments strategy.

 

However, currently, eBay does have a section on the platform which reads Virtual Currency, however, on this section, the users can use fiat currency to buy cryptocurrency from sellers.

Continue Reading

#Bitcoin

Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

Published

on

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

Continue Reading

#Technology

Microsoft Launching a Decentralized Identity Tool on Bitcoin

Published

on

Microsoft has announced that they are launching a decentralized identity tool on Bitcoin. The open sourced project will be called ION.

Microsoft has announced that they are launching a decentralized identity tool on Bitcoin. The open sourced project will be called ION.

 

Microsoft ION:

As announced by Microsoft on the 13th of May, The open sourced project called ION operates on how networks actually communicate with one another in the handling of decentralized identifiers.

 

This will give you the ability to prove that you own the keys to your identity data. For example, anytime that you go and use Facebook to login into another website, there is an underlying protocol which allows for that to happen. So, what Microsoft is building is a new protocol to enable this to happen in a decentralized way built on top of bitcoin.

 

The individual ION nodes on the secondary network shall be held responsible to keep the tracks of the DIDs or digital decentralized IDs and to timestamp these onto the bitcoin mainnet.

 

For creating a digital decentralized ID, the user will wrap a public key into the Digital Decentralized ID creation document on the ION network, sign the input using their private keys and then send it over to the node on the network. Each time that the user is going to update his Digital Decentralized ID by creating a sub ID or by updating the metadata, the corresponding node will update the changes in the Digital Decentralized ID document.

 

If Microsoft implements this into any of their software products then people will be using bitcoin to verify their identities. Currently, some companies have already moved forward to showcase their interest in running the ION nodes which includes the Bitcoin security and hardware company Casa, internet security firm Cloudflare and Equinix.

 

The project will move from the bitcoin testnet to the bitcoin mainnet later this year. What are your thoughts on the ION project by Microsoft? Tell us in the comments section below.

Continue Reading

Keep up with Bitcoin & Blockchain Technology Trends

Simply enter your email address in the box below and sign up for emails from Coinnounce regarding trending cryptocurrency, bitcoin & blockchain topics and offers.

This information will never be shared with third parties.