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What can you do with 1 Bitcoin?

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what you can buy with 1 bitcoin

Everywhere you go, people have been talking more and more about Bitcoins and what they are doing with it. Anyone looking to invest in Bitcoins or looking to see the options at what to do with their Bitcoins has several questions. What does one do with them? Where can I really use them? Our usual hard currency can be used absolutely everywhere to buy almost everything meant to be sold. But, when it comes to spending Bitcoins and looking at what one can really do with them, people have always been on the lookout to explore options in this domain. Following are a few things that have the equivalent value to 1 Bitcoin and are curated for almost every type of person out there – a traveler, a practical investor, a foodie or a movie fanatic.

 

77400 hours on Netflix

Your 1 unit of Bitcoin is worth a grand. Always been a fan of sitcoms and movie marathons but have always faced problems because of your pricey Netflix subscriptions? But if you are the owner of even 1 Bitcoin, you need to worry anymore. If you are not looking for any practical investments and wish to splurge a little, Netflix is one of your options. Netflix’s premium service is valued at almost $11.99 per month. Making a few calculations, it is clear that you can use 1 Bitcoin to buy 8 years and 11 months of Netflix subscription. This accounts for movie marathons on the go. If you wish to buy such a heavy subscription of Netflix we consider it obvious that you would be watching movies and shows on it day in and day out. This accounts for almost 77400 hours of unlimited Netflix goodness. Go crazy!

 

Go flying around the world

If you are not the type to spend hours and hours watching seasons of shows or watching movie marathons, we bet you would absolutely love to travel. Just one Bitcoin can satisfy the traveler in you and give new meaning to your sense of wanderlust. In this case, you can use your 1 Bitcoin to buy a lot of flying mileage and go on a world travel tour and treat yourself. Take along your family or friends or your significant other and hike through European mountains or take a stroll through the lanes of Rome. This is one of the most popular options exploited by Bitcoin investors all over the world. There have been several reports of people making a small fortune of their Bitcoin investments, dumping their regular mundane 9 to 5 jobs, and going on a world tour surviving solely on their Bitcoins.

 

Buy Digital currencies

If you are the type to always make wise decisions money wise and wish to secure your Bitcoins investment wise this one is the best option for you. To be more practical, 1 Bitcoin can be used to buy 13 Ethereum (ETH), which is one of the most stable digital currencies in the digital currency market right now. Another steadily growing digital currency Litecoin (LTC), 57 LTC can be brought using 1 Bitcoin. Similarly, 38 Monero and 6.5 Bitcoin Cash can be bought using 1 Bitcoin.

 

Cheesy Pizzas for 10 years

Who does not love pizzas? Not loving them is almost as equal to sinning. And magically, one of the first places where people had started spending their Bitcoins was pizzerias. 1 Bitcoin has the power to buy you some real good quantity of pizzas. You can buy yourself a lot of pizzas using just 1 Bitcoin at several pizzerias around the world since many of them have started accepting Bitcoins as a legal method of payment.

 

An ounce of Gold

Bitcoin has been dubbed as the future gold. Just like people have been buying and hoarding gold in their houses since time eternity, economists and investors have been claiming that Bitcoins would have a very similar fate too. Accordingly, 1 Bitcoin actually does surpass the value of one ounce of gold and is thus more valuable than one ounce of gold. If you wish to keep your Bitcoin as a gold like commodity, you could go ahead with this option. Use your Bitcoin as a hedge. Although there is no physical equivalent commodity for Bitcoin, it is still making its place into gold’s niche as an investment.

 

Hoverboards anyone?

This option is to satisfy the child in you. Ever looked at those self balancing scooters and wished that you could own one too? Because they are just so cool and fun to sue? If you wish to go crazy and levitate yourself to work or your nearby grocery store to buy veggies, you can buy almost four hoverboards using only one Bitcoin. Buy them and use them to have a gala time moving around town using your brand new hoverboard.

 

Gift cards

Always been the one who is very lazy to buy presents for your loved ones? Always see yourself making last minute holiday gift purchases because you cannot decide what to gift someone? Ever tried gift cards? You can use one Bitcoin to buy attractive gift cards and give them as presents to your family and friends. This gives you a wide range of possibilities on where you can buy gift cards from since several stores and online shopping sites have started selling gift cards in exchange for Bitcoins.

 

One might think that using Bitcoins for purchases does not have several options but that must not deter you from investing in Bitcoins. The above given options are just a few of the many more wide range of options of what to do with your Bitcoins.

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New to crypto? Buy only the original Bitcoin BTC, do not fall prey to shitcoins

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Bitcoin is the best start for the beginners to get a feel for the cryptoverse. Bitcoin is well known and if you are new to cryptocurrency, trust only BTC

Comprehending the rationales for the dominance and reliability of Bitcoin over shitcoins.

 

The anonymity of Bitcoin developer is the key to its acceptance

Bitcoin, having the first movers advantage has a lot of influence on the crypto community. Due to the various reasons, bullish momentum or bearish trend of Bitcoin is followed by all the Altcoins, but there are some exceptions. Any form of Fear, Uncertainty, or Doubt, affects the world’s first cryptocurrency and later on, due to the ripple effect, all the other coins closely associated with Bitcoin, fluctuate respectively. The censorship free kind of Blockchain platform offered by Bitcoin is highly useful to the customers who are obsessed with privacy or anonymity. Bitcoin, in fact, is the only cryptocurrency whose founder is not known until now.

 

Cryptocurrency is equivalent to Bitcoin

According to statistics, it has been estimated that among the merchants accepting cryptocurrencies, Bitcoin is accepted by 80% of them. The fame is so well seeded in the minds of people that “Bitcoin” is at times considered to be pseudonymous with “cryptocurrency“. Therefore, even the merchant’s have incorporated the Bitcoin payment system, as it is mostly used by the people. The number of Merchant stores accepting Altcoins but not Bitcoins is very rare. This insight clearly makes it evident that each and every individual are exposed to the cryptoverse only through the popularity of Bitcoin.

 

Bitcoin attracts Development, not Shitcoins

All the major venture, in the form of Research and Development, takes place in the name of Bitcoin and maybe further is expanded to other Altcoins. This particular reason is enough to give an overview of the Bitcoin reliability. The Bitcoin network, although experiences scalability issues, but it’s popularity has never been on a negative scale.

 

The cause for the anonymity of Bitcoin inventor

The mastermind behind the Bitcoin project, who called herself/himself Satoshi Nakamoto, has been anonymous since the invention of Bitcoin. Even until today’s day is identity has not been revealed, therefore, the users of the Bitcoin blockchain can subconsciously be assured about the security of his funds on the network. Else, even for the futile activity of the developer, the community would start to speculate about the future of the coin. Consider, Altcoins for example, where all the Altcoins have some or the other owner. Any speculative activity of theirs would spur FUD in the respective community.

 

Added perks of Bitcoin over Altcoins

Being anonymous also ensures an immunity against the government seizures. Pause and imagine, if the owner of any Altcoin was alleged for some issue, irrelevant of crypto, then his/her venture may be taken down by the government. The distributed nature of Bitcoin and anonymity, seeds stability in the network. The community members also start to judge the project based on the capabilities of the team members, in the case of Altcoins. The Bitcoin network is spread across the world, and it can also be considered bigger than the Internet. According to computer scientists, the entire Bitcoin network dominating the globe is around 11000 times powerful than the top 500 supercomputers from the world combined. Bitcoin even dominates for the highest number of wallet addresses registered. It qualifies to be, the top cryptocurrency to be listed on most of the exchanges around the world.

 

The Shitcoins aren’t made for the global Cryptocurrency

Many other Altcoins like Litecoin, Ethereum, etc are popularly known as Shitcoins because of their undirected focus towards becoming a global cryptocurrency. In simple words, these cryptocurrency coins are specifically developed, not to become a global cryptocurrency but for other futile and short-term purposes. Utility token is the other name for such coins, which would not gain widespread acceptance, because of their popularity and acceptance only in a single stream. On the contrary, Bitcoin is a generalized form of cryptocurrency known by everyone.

 

Closing thoughts on acceptance of Bitcoin for the beginners

The acceptance of Bitcoins in various countries, across the world, may be restricted due to their legal implications. Therefore, Bitcoin is the best start for the beginners to get a feel for the cryptoverse. Bitcoin is well known by the masses and an immense amount of information is available on the internet as well, regarding Bitcoin.

 

Note: Cryptocurrency investments are very risky and this article is not, in any way, an investment advise. The article is only the opinion of the writer and you should do your own due diligence in researching about any digital asset you wish to buy.

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XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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Is Bitcoin banned in India? Complete Analysis

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The major incident that first led Reserve Bank of India to send out a notice such as that was because of the price inflation that was noticed in Bitcoin.

Cryptocurrencies have been changing every business market in every country including India, sufficient enough to say it has been changing the business market of the whole world. A country like having many traditional values are reluctant before exploring something new and trusting the new values.

India and cryptocurrency markets

Banking service as it is in India has many sentiments and follows strict protocols to make sure that there are no malicious content or malicious practices between both the parties and bank as third party makes sure of this. When these protocols are not followed they are penalized with heavy consequences to make sure the mistake does not happen again.

In a market such as cryptocurrency the transactions happen between two parties without any interference from the third party. There is not much availability to records and the transaction procedures are privatized too. Operations such as this are threatening to the protocols followed by the Indian markets. Thus, Indian financial markets are reluctant towards moving towards the cryptocurrency markets.

What is Bitcoin

Bitcoin is a digital currency that are issued in the form of virtual digital coins in various digital currency exchange platforms where users can use them to trade and transact for their financial purposes either as an individual or as business entity.

India and its differences with Bitcoin

Indian markets are always sure of what is next in terms of financial analysis and markets to meet out demands and make sure the country does not run into an economic crash. India has a low gross domestic profit (GDP) compared to other fast-growing countries making it try harder and harder to level its financial markets with advancing countries.

When cryptocurrencies such as Bitcoin entered the Indian markets, it threatened many businesses as there is no middle man in it. This led every financial analyst in India to believe that this might give an opportunity to all malicious practitioners to undertake this as an opportunity to hack or use this virtual money for malicious threats. But this did not lead India to consider banning Bitcoin but rather the incident that took place regarding Bitcoin in the foreign markets is what lead Reserve Bank of India (RBI) to put a notice to all Indian banks asking it to shut down all operations that is taking place with Bitcoin or any other cryptocurrency as a means of financial transactions.

The major incident that first led Reserve Bank of India (RBI) to send out a notice such as that was because of the price inflation that was noticed in Bitcoin. The sudden price inflation of Bitcoin overnight started making Reserve Bank of India wonder what would it be the consequence if the more and more Indian business markets started investing in it too. Because of Bitcoin inflation, the price of everything in India markets would go high making it a difficult situation for all the customers as well as the Indian people as it would affect the daily life of the public too.

Considering this Reserve Bank of India issued a notice to all banks asking them to stop all transactions that was under Bitcoin transactions. All investors were given a period of time to sell them and exit the Bitcoin market. All investors who saw the potential of Bitcoin filed a petition on this subject to The Supreme Court of India asking for it to release the notice and allow everyone to use Bitcoins.  However, there is not much development on the case as of yet. So, if any individual wants to buy a Bitcoin and trade them, they are still allowed to do it. It just that business entities cannot do transactions under Bitcoin as it goes against the ReserveBankofIndian rules and the ban it is trying to impose on Bitcoin being used by business markets of India.

The operational line of Bitcoin in India has been on a process towards its ban starting from investors of India investing in Bitcoin which led Reserve Bank of India to analyse Bitcoin by which they noticed high inflation and price fluctuations leading to issuing the notice to all banks of India to stop using Bitcoin and then the government imposing heavy duty taxes on everyone investing in Bitcoin to stop the practice of using them which then was followed by the Indian financial ministers issuing a bill stating activities using Bitcoin as a medium for transaction will not be encouraged. Various analysts and research teams from India have been appointed to study how Bitcoin works and their opportunities along with their drawbacks. Meanwhile in India some research teams have been trying to prove that Bitcoin is dangerous to support Reserve Bank of India. The supreme court finally issued a ban but upon many files petitioned as a plea to lift the ban, the supreme court of India has been reconsidering its decision and is waiting to make the announcement if the ban will be lifted or not for using Bitcoin. This ban lift was supposed to be announced on September 11th which got postponed to September 17th and then again postponed to coming Monday.

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