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Topics - Karl_BC

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1
Hey everybody,

I would like to know your ideas on the most important features of an online crypto casino.
What would be your TOP 5:

* Sign up speed
* Payout speed
* Withdrawal limits
* Strength of licensing
* Responsiveness to complaints
* Engagement with communities
* Bonuses & offers
* Software & games
* Security
* Customer service
* Variety of cryptocurrencies

Waiting for your thoughts.

Thanks,
Karl
Bitcasino.io

2
For Beginners / TOP 5 crypto wallets for 2022
« on: October 21, 2021, 10:32:55 AM »
Hey crypto fans,

The crypto market is expected to hit USD 2.2 billion by 2026, with the global demand for digital currency higher than ever. In the wake of what’s to come, savvy investors, Fortune 500 companies and beginners alike are all finding new and exciting ways to invest, trade and store the widest range of digital assets.

And, just as all physical assets are stored to accumulate value over time, so too does your digital portfolio need a secure and multifunctional wallet to keep your cryptocurrency safe.

Below, you’ll find our pick for the top five crypto wallets.

What are the Best Crypto Wallets for 2022

Ledger Nano S

Starting with cold wallets, at US$59 (or around €50), the Ledger Nano S comes in at half the cost of the recently launched Ledger Nano X and, with a host of essential features, is a top choice for new to interim traders/investors.

Released back in 2016, the Ledger Nano S is one of the most trusted hardware wallets on the market today. With encrypted security protocols and a sleek and stylish design, the Ledger Nano S supports over 1000 different cryptocurrencies and Altcoins.

The Ledger Nano S is able to seamlessly integrate with a host of leading cryptocurrency exchange apps. This speeds up manual approval, allowing transfers and transactions to go off from your wallet in real-time.

While the next generation Ledger Nano X has more features and a higher resolution screen, the original Ledger Nano S is just as effective as it ever was, while coming in at a much more affordable price tag.

Some of the Top Features of the Ledger Nano S crypto wallet include:

* Lock tight Storage: The Ledger Nano S stores your cryptocurrency in an isolated environment, with a unique pin code. This greatly limits the chance of any personal or account-related information being compromised.

* Backup Seed: A built-in backup seed (or phrase) ensures that your account is always safe. This 24-word phrase will store all the information needed to recover your account information in case of loss or damage.

* Display Features: A built-in display allows you to check and confirm incoming and outgoing transactions straight from your device

* Multiple Cryptocurrencies: The Ledger Nano S is able to store around 107 cryptocurrencies and more than 1000 different tokens, stable coins and altcoins, including, Bitcoin (BTC), Tether (USDT), Dogecoin (DOGE), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Cardano (ADA), Tron (TRX), Dash (DASH), Neo (NEO), and many more.

Trezor Model T
The Trezor Model T is the next generation for top-end cryptocurrency storage. With cutting-edge security and a host of built-in features, the Trezor Model T is a go-to cryptocurrency wallet for interim and advanced crypto traders and investors alike.

The wallet is able to hold over 1600 different crypto assets, storing and securing its user’s private keys straight from the device itself. Well built, and stylish, the device is known for its high storage capacity,  touchscreen navigation and ease of use. The Trezor Model T retails for around US$170 (or €144).

Some of the top features of the Trezor Model T crypto wallet include:

* Encrypted Key Storage: The Trezor Model T carries cutting edge security protocols, where a set of digital keys grant users access to their account and transactional data. These keys are stored safely and never leave the device, ensuring the wallet is backed up to the fullest.

* Touchscreen capability: An easy-to-navigate, intuitive touchscreen is able to speed up and streamline verification and approval of all cryptocurrency transactions.

* Password Manager: The Trezor Model T password manager ensures that each accounts’ passwords are individually locked. Once a user has physically confirmed their identity and given permission, these passwords are then unlocked one by one.

* Cryptocurrency storage: This wallet has the ability to store over 1600 crypto assets, including

Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), EOS, Litecoin (LTC), Tether (USDT), Tron (TRX), and many more.

KeepKey

Developed in 2016 by the global trading platform Shapeshift, the KeepKey is one of the most trusted cryptocurrency wallets in circulation, delivering robust and multifunctional offline storage for a wide range of digital assets.

Perfect for beginners and advanced users alike, the wallets’ stylish, minimalist design has a built-in display screen for easier navigation, while its integration with Shapeshift allows users to exchange a host of different cryptocurrencies directly from the wallet itself. KeepKey also retails at a reasonable $US49.00 (or €41).

Some of the top features of the KeepKey crypto wallet include:

* Multiple Supported Cryptocurrencies: The KeepKey wallet supports the storage and exchange of various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Dogecoin (DOGE), Litecoin (LTC) and more.

* Integration with Shapeshift: As mentioned, the KeepKey wallet is also directly integrated with the Shapeshift exchange platform. This means that a multitude of different cryptocurrencies can be exchanged directly from the wallet itself.

* Backup and Recovery: The wallet generates a 12-word recovery sentence that you can use if you ever need to retrieve your private keys. This ensures your digital assets stay safe in the event of loss or breakage.

* User Navigation: The KeepKey scores high in terms of its user-friendliness, and its large display screen and sleek design are easy to get the hang of in the shortest possible time.

From cold to hot, here are two of the best online (digital) wallets making moves in 2021.

Exodus

Exodus is at the top of many people’s list of crypto wallets, compatible with both desktop and mobile. Its straightforward interface allows for easy set-up and platform navigation. The Exodus wallet comes with a built-in exchange platform and is currently able to store around 100 or so different cryptocurrencies.

One potential drawback is that the wallet's source code is not open to the public. This means that a fair amount of trust must be placed on the Exodus team to ensure a user's account remains safely guarded at all times. The platform is entirely free to use and registering an account is simple.

Some of the top features of the Exodus wallet include:


* Supported Cryptocurrencies: The Exodus Wallet can store around 100 different cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRX), Bitcoin Cash (BCH), EOS (EOS), Ripple (XRP), and more.

* Live Portfolio Tracking: The Exodus Wallet comes with live charts & portfolio tracking capability, alerting you to any spikes or dips in your portfolio.

* Mobile Integration: Users are able to exchange crypto in just a few clicks with the Exodus Desktop App.

Coinomi

Established back in 2014, Coinomi is one of the first multichain wallets to have ever been brought to the market. Used by millions of crypto enthusiasts across the globe, the Coinomi wallet has stood the test of time, supporting over 125 different blockchains and thousands of different tokens, all housed on one single platform.

As far as the best cryptocurrency wallets go, Coinomi offers cutting-edge online security, with multi-seed backups, encrypted user IP addresses and lock tight data protection. Its features include instant exchanges, quick purchases and a wide range of partnerships that streamline inter-currency transfers. The wallet is also entirely free to use, with the only requirement being to sign up to the Coinomi platform.

Some of the top features of the Coinomi Crypto Wallet include:

* Simple Setup: Registering a Coinomi Wallet is simple. The wallet itself is easily downloaded off of the Coinomi homepage and can be fully installed and ready to use in a few clicks.

* Enhanced online security: The wallet adheres to the highest security standards. Users are given a unique set of seeds (or phrases) when setting up their wallets. These seeds come with their own encrypted settings, ensuring your online assets are never compromised. Additionally, the site itself does not store any user data, ensuring complete privacy.

* Integrated Currency Exchange: The Coinomi Wallet is directly integrated with its sister trading platform, meaning the exchange of any online assets is straightforward, efficient, and can be done directly from the wallet itself.

* Multi-language support: The Coinomi support team is available around the clock, with one of the fastest response times of any online wallet. Their team speaks over 25 different languages, ensuring communication remains a top priority.

* Supported Cryptocurrencies: Coinomi supports a massive list of over 1770 crypto assets, including Bitcoin (BTC), Ethereum ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tron (TRX) Ethereum Classic, Dash, NEM, ZCash, Doge (DOGE), Decred, Bitcoin Gold (BTG), Algorand, MonaCoin, Horizen, and a whole lot more.


Thanks for reading and you're welcome to share your thoughts.

Regards,
Karl from Bitcasino


Source: Bitcasino blog

3
Hello everybody!

While it’s the mainstream choice to invest in older cryptocurrencies like Bitcoin and Ethereum, most people nowadays are beginning to take their chances on new and up-and-upcoming coins as well. This is because smart investors don’t want to miss out on the next big thing that could potentially open the door to unique innovations and investment opportunities.

The Safemoon cryptocurrency is just one of these that has attracted the attention of savvy investors.

Safemoon was first launched as a token on March 8, 2021, by SafeMoon LLC. It was built under the Binance blockchain and was listed under exchanges such as PancakeSwap, BitMart, WhiteBit and more.

The name of the digital currency was coined after the popular phrase ‘To the moon’. Safemoon cryptocurrency aims to eliminate impermanent loss caused by volatile prices and trading patterns. To solve this problem and create a better liquidity protocol, Safemoon offers static rewards, performs manual token burns and offers an automatic liquidity pool.

Soon after its launch, Safemoon became the talk of the town especially after several celebrity endorsements from Youtuber Logan Paul and rapper Lil’ Yachty.

What you should know about Safemoon

If you’re looking to invest in Safemoon, it’s better to learn everything you can about the digital currency first. Read the list below to get an idea of what you should know about Safemoon:

* Safemoon had an eventful start in the market
Safemoon launched with over 777 trillion tokens. And a month after its release, the prices shot up by 20,000% and fell back down within a matter of days.

This caused more people to learn about Safemoon and what exactly it offers as a digital currency. Since then, the price of Safemoon hasn’t changed drastically and as of October 2021, is at $0.000001626.

* Safemoon cannot be purchased via cash or crypto exchanges
Most cryptocurrencies offer ease of access through exchanges but unlike them, Safemoon cannot be purchased in crypto exchanges or through cash transactions.

Instead, Safemoon can be purchased by converting Binance Coin or Tether into Safemoon via PancakeSwap, a decentralised crypto platform. The second way to buy Safemoon is by downloading the Trust Wallet crypto app and acquiring Safemoon from there.

* Safemoon has a 10% fee every time it’s sold
When Safemoon was first released in March of 2021, it was quickly made evident that the digital currency discourages day trading or short-term transactions. Every time Safemoon is sold, a 10% fee is charged. This aims to stabilise the price and reward long-term traders, according to Safemoon’s whitepaper.

Moreover, with this 10% fee, half of it will be distributed as dividends to all of the holders of Safemoon. On the other hand, the other half will be used for a Safemoon and Binance Coin liquidity pool.

* Traders find it an intriguing investment despite speculations
All investments, whether digital or not come, with risks. This is why crypto traders must know about the market and understand how digital assets work. Through smart trading, using new cryptocurrencies like Safemoon can be a valuable experience. Traders also find Safemoon a somewhat speculative investment due to its unconventional design.

Is it worth buying Safemoon?

Safemoon is by far one of the most popular, newly-released cryptocurrencies that had an eventful half-year in 2021. This leads us to the question that everyone wants to ask: is it worth buying Safemoon?

Buying Safemoon is worth it as long as traders know what they are getting into. Proper research and knowledge about the market are essential before delving into new investments such as this. Through careful consideration and adept skill in trading, Safemoon can prove to be a profitable investment in the future.

Thanks for reading and you're welcome to share your thoughts about Safemoon.

Regards,
Karl


Source: Bitcasino blog

4
For Beginners / Crypto books & podcasts
« on: September 28, 2021, 11:28:00 AM »
Hey crypto fans,

What are the best crypto books and podcasts for newcomers looking to learn about the subject?
Here’s a list of some to help you quickly scale the learning curve.

Crypto books

* The Bitcoin Standard (Saifdean Ammous)  
If you're looking for a well reasoned argument for Bitcoin, read the Bitcoin Standard.
Regarded as one of the best cases for Bitcoin it analyses the historical context, the economic properties and future implications.

* Mastering Bitcoin (Andreas Antonopoulos)  
Mastering Bitcoin is one of the most comprehensive and thoughtful guides to what Bitcoin is, who might use it and how it works.
Great for anyone thinking about it from a coding perspective or simply wanting to see under the hood.

* The Infinite Machine (Camila Russo)  
A great insight into the origins and history of Ethereum written as a narrative focused on the characters, their motivations and the drama,
rather than technical details. If you like Michael Lewis (Flashboys, The Big Short) you’ll love this.

* The Price of Tomorrow (Jeff Booth)  
Jeff Booth's book isn’t explicitly about crypto, but he clearly had it in mind presenting a compelling argument
for how deflation is the only sensible route out of the mess that fiat money has landed modern economies in.

* Where does money come from? (Josh Ryan-Collins)  
Crypto is described as the antidote to uncontrolled central bank money printing, but what does that really mean,
and where does money actually come from? Read this book for an answer that is fascinating and surprising in equal parts.


Crypto podcasts

* What Bitcoin Did
Peter McCormack has developed one of the most listened to Bitcoin podcasts by combining an engaging, relaxed style with great content.
He isn’t the most technically sophisticated, which is why the show works so well for newcomers.

* The Pomp Podcast
Anthony Pompliano, commonly known as The Pomp - is one of the biggest cheerleaders in the Bitcoin space.
An aggressive crypto advocate, his style isn't to everyone’s taste, but he pulls no punches and is fully invested.

* The Breakdown
Approaching 100 episodes, Coindesk’s flagship podcast, hosted by Nathaniel Whittemore,
provides a daily cross-section of the biggest stories in crypto, deftly mixing up short 15 minute daily bites, with interviews and long reads.

* Unchained
Running since 2016 ‘Unchained’ is one of the oldest and most respected crypto podcasts out there.
Laura Shin has great journalistic pedigree, as the first mainstream reporter to cover crypto assets full-time.

* Bitcoin Fundamentals
Preston Pysh hosts a collection of Bitcoin focused podcasts within a wider network of investment related content.
Actively managing a portfolio, Pysh takes a deep dive into the overlap between macro economic issues and Bitcoin.


This is just a short selection, there are plenty of others. What books/podcasts do you recommend?

Thanks,
Karl


5
Gambling discussion / The best coin for gambling?
« on: September 23, 2021, 09:51:42 AM »
Hey guys,

I am sure you all know Bitcoin's position among cryptocurrencies. Not only is it the largest crypto platform in the world by both market capitalization and coin value, but Bitcoin is also the original cryptocurrency that started it all. The price of Bitcoin has been swinging up and down all year, and some gamblers think if the price is so expensive it would be difficult to get profits.

How about you? In your opinion, what's the best crypto to gamble with?

Cheers,
Karl from Bitcasino

6
For Beginners / Trading VS investing: pros & cons you should know
« on: September 03, 2021, 10:44:07 AM »
Hi everybody,

Still at the crossroads of picking between trading vs investing in cryptocurrency?

Consider the pros and cons of investing in cryptocurrency and trading, as well as your profit goals to find the right option for you. Start learning:

Trading vs investing crypto side by side

Although investing and trading in crypto appear the same, they work in distinct ways. Investing is buying an asset and holding onto it until its value appreciates over time while trading involves buying and selling coins to profit over movements in the market. Learn more about these two when we compare them side by side below:

Pros and cons of investing in cryptocurrency

Investing in cryptocurrency is fit for long-term investors who can wait years to profit from their assets. This involves buying a crypto asset like Bitcoin (BTC) and Ether (ETH) and waiting for its value to increase over time.

Most crypto investors tend to do the ‘HODL’ strategy which is a slang term that means ‘hold on for dear life’ onto their assets no matter if the price drops. Rather than being swayed by volatile price changes in the crypto market, these types of investors choose to hold onto their coins and wait for the right time to sell them. Know more about the pros and cons of investing in cryptocurrency below so you can choose if this is the best option for you. Here’s all you need to know:

Pros

* This can be done passively
Investing in cryptocurrency can be done during your spare time without having to be fully active on the market. All you have to do is buy a performing crypto asset and see how its prices move within the next few months or years.

* Suited for long term goals
Investing focuses on long-term profit or gains that are often bigger compared to trading. Price drops don’t concern investors for long term investments in cryptocurrency since they look at the trends in the long run and know that prices can rise again in the future.

Cons

* Results take longer to earn
Like most investments, cryptocurrencies also don't pay out overnight and it can be difficult to predict when with the market’s volatility. Along the way, you might be faced with doubt or impatience of profiting immediately. However, if you keep track of your assets’ performance through market predictions by experts and look at things from a long-term perspective, you can potentially gain substantial amounts from your investment.

* It has a higher risk
The crypto market is known for being highly volatile and therefore, risky. And while the famous saying goes ‘high risk equals high returns’, this also means the possibility of losing big money. Additionally, your investment can still result in zero return no matter how long you wait for it to appreciate if it’s not doing well in the market. So, make sure to choose your investments wisely. All you can do is try to protect your crypto from market volatility as best you can by being open-minded, cautious and knowledgeable of the pros and cons of investing in cryptocurrency.

Pros and cons of cryptocurrency trading

Crypto trading involves buying and selling coins to profit by predicting the price trends using a CFD (contract for differences) trading account. Opposite to investing, trading is more fit for short term profit goals since it allows you to earn through buying and selling coins within a few hours, days or weeks. Here are the pros and cons of cryptocurrency trading you should know:

Pros

* It works well with the market volatility
Crypto trading is rooted in the market’s volatility rather than investing in crypto that doesn’t heed to short-term price changes. This means that once prices go down, you can buy more crypto and profit by selling them later for a higher price when it appreciates. Rather than seeing price fluctuations as a bad thing, traders see this as an opportunity to gain in the near future.

* It is faster and more accessible
If you want instant profits in the crypto market, trading is the best option for you. This can easily be done by simply buying and selling tokens through various platforms like exchange sites. To make the most out of your assets, make sure you know all the different strategies, trends and analyses used in crypto trading.

Cons

* Should be active in the market
Since trading is aligned to the market’s volatility, you are expected to monitor the latest changes. Unlike investing where you can be passive, you have to always be active when trading so you can enter and exit the market whenever necessary. If you don’t stay alert on certain market trends, you might miss the opportunity to profit or suffer great losses when prices drop. Bitcoin trading bots, however, can help you by aggregating all of this information and help you make the most informed trading decisions.

* Smaller returns for each trade
Although you can get faster returns in crypto trading, they usually come at smaller prices. Since price drops happen minimally especially for lesser-known coins, the profit you can get from buying and selling multiple currencies will also be small.

* It requires more knowledge on crypto
Compared to investing where you can buy and leave your assets alone, trading requires you to brush up on your knowledge about crypto to profit from it. You need to be updated about the recent happenings in the market especially those that can affect the asset’s prices and understand how the entire system works for you to make substantial profits from crypto trading.

Is there a risk in cryptocurrency?

Like all kinds of investments, there is a certain level of risk as well as pros and cons in cryptocurrency you should keep in mind. This includes the high market volatility, which means prices tend to rise and fall.

Another thing to be wary of is the safety of your assets. Crypto’s core tech such as blockchain and cryptography secures your assets, however, other financial platforms that make investing and trading possible may not be as safe. This includes popular cryptocurrency sites used in trading that are often centralised and operate online, which means they can be a target for internet threats like hacking and malware.

Investing apps such as wallets where you choose to store your coins also pose their own risks such as hacks and getting lost. Ensure that you secure your Bitcoin wallet by keeping your password safe and using 2-step verification.

So despite its built-in security features, there are risks in cryptocurrency that users like you should be wary of. Do your own research on the steps you can take to improve the safety of your coins. Consider all the pros and cons of cryptocurrency when deciding because, at the end of the day, your assets are only as secure as you make them.

Into the realm of crypto: Where to get your crypto

Now that you know the pros and cons of investing in cryptocurrency, ready to step into the world of volatile markets? To help you get started in either trading or investing, find out where you can buy these coins first. Here are the three best platforms for beginners:

* Exchange sites
Big exchange sites like Coinbase and Binance allow traders and investors to buy and sell coins in one place. It acts as the intermediary that facilitates transactions between two parties (buyer and seller).

To make an exchange, all you have to do is create an account on your chosen platform and begin trading or investing. You can instantly get any of the well-known coins like BTC and ETH using your fiat money or other cryptocurrencies.

* Peer-to-peer marketplaces
If you want to directly buy and sell your crypto assets with another person, you can use Peer-to-Peer (P2P) marketplaces. These sites allow you to contact any interested party for the transaction. Additionally, the prices of the coins are usually determined by the seller. Some examples of P2P marketplaces you can consider are Paxful, Bisq and Localbitcoins.

* Payment apps
You can also buy crypto from payment apps like PayPal and Robinhood. These apps make crypto available to their userbase so they can easily buy crypto on-demand without finding a seller.

 
Thanks for reading and hopefully it was useful.

Cheers,
Karl

 
Source: Bitcasino blog

7
Hello, Bitcoin fans

In 2017, China’s Internet Finance Association stated that Bitcoin lacks legal foundations and to protect its people from the market’s volatility, China imposed stricter regulations on the industry. In the past few years, China has been one of the most active countries in shutting down crypto activities from mining to trading.

This 2021, the Chinese government intensified their crackdown on crypto with another warning against using cryptocurrency in trading. While there is no law in China that stops people from using cryptocurrencies, the government has cautioned the public about trading and mining cryptocurrencies.

Provinces in China drove out crypto mining companies with the ban issued in May 2021. In the same month, the People’s Bank of China (PBOC) published a warning saying that any activity related to the exchange of fiat money for cryptocurrencies, conducting token-based trading, and providing services to facilitate crypto trade will be charged with a criminal offence.

However, China isn’t the only country to pursue a crackdown on cryptocurrencies. Thailand and South Korea also shared their sentiments with China and issued their own warnings to crypto users and trading companies. In June and July 2021, the Bank of Thailand warned people against using cryptocurrencies for payments of goods and services.

As one of the biggest markets of cryptocurrency as well as the centre of most operations in crypto trading and mining, China plays a big part in the crypto industry. With the turbulent relationship of crypto with China and other Asian countries, the future of crypto in Asia is fogged with uncertainty.


Is it the end of Bitcoin in China?

China’s crackdown on crypto and especially on Bitcoin has been intense ever since the first issue in 2017. With China announcing that they will be working on their own digital currency, it became even harder for the crypto industry to break through and resume normal operations.

Cryptocurrency experts like Fred Thiel, CEO of Marathon Digital Holdings and a proud member of the Bitcoin Mining Council stated that the crackdown might be part of China’s effort to ensure the adoption of the upcoming digital currency created by their central bank. Another motivator could be that China is looking for a way to stem the capital outflow via cryptocurrencies and stable coins.

Thiel also said, ‘China’s government is doing everything it can to ensure that Bitcoin and other cryptocurrencies disappear from the Chinese financial system and economy.’ All of these are concerning for traders, miners and investors and it raises the question: Is this the end of Bitcoin in China?

As events continue to develop in China, the answer to that question is still unclear. However, Bitcoin is a well-established digital currency that pioneered decentralized operations in finance. Even with China banning crypto, it will be impossible for them to completely take it down. Of course, events in China can still affect Bitcoin’s value, but these can be easily reversed as the operations move offshore and traders deposit their crypto in overseas exchanges.

Over the whole debacle on the crackdown, Bitcoin has remained resilient, with operations that were halted in China only moving offshore. Despite all the regulations enforced on traders and users, Bitcoin continues to thrive in China. Instead of relying on RMB transfer, Bitcoin traders are now using the US dollar-linked cryptocurrency, USDT to buy Bitcoin and deposit it on overseas exchange, effectively trading Bitcoin. In a way, it became an underground currency instead of completely disappearing in the crypto scene in China.

Hope in the midst of a crackdown

Cryptocurrency is still not recognized as legal tender in most Asian countries. This is a concerning issue that can affect the marketability of crypto since it limits the use of cryptocurrencies on trade. Fortunately, there seems to be a light shining through the turbulent relationship between cryptocurrency and China.

During a panel hosted by CNBC on April 19, 2021, deputy governor of PBOC, Li Bo called Bitcoin an investment alternative for the first time since the crackdown. Although the regulatory framework that China has on crypto remains unchanged, the Chinese government’s statement on Bitcoin being an ‘investment alternative’ is definitely an improvement from the former ‘non-legal tender’.

To clarify, China still doesn’t recognise Bitcoin or any other cryptocurrencies as actual currency. However, the government is starting to acknowledge that it plays a part in the area of investments and now regards it as crypto-assets. Li Bo mentioned that China is still looking into crypto and what regulations they can apply to prevent risks of financial instability in the country.

Is it safe to invest in Bitcoin in Asia right now?

Bitcoin remains in the legal grey area for most countries. Some are still trying to figure out how to regulate cryptocurrencies in an effort to prevent any criminal transactions to be made in these decentralized platforms.

Even simply searching for crypto-related keywords will yield no result in the popular Chinese media outlet, Weibo. It is a difficult time not just for Chinese traders but also for the rest of the crypto community all over the world.

China has a prominent effect on the crypto market all over the world. With the country’s persistent crackdown on crypto, Bitcoin trading from major cryptocurrency exchanges fell by more than 40% in June 2021. The price of crypto also fell below the $30,000 mark within the same month.

Despite the devastating effect of the intense crackdowns by China, the crypto community around the world continues to persist and thrive. In China, crypto investors are finding new ways to trade without using RMB and the China-based crypto exchanges that were not able to get a license in China like OKE moved overseas to continue operations. Meanwhile, halted mining companies in China gave way for other mining companies in the world to thrive and pick up the slack.

Crypto might be under fire right now but as other countries reject the innovative and decentralized way of crypto, other countries like El Salvador are making Bitcoin an official currency, while USA, European Union, Canada and Australia have taken a positive stance in the development of crypto as an alternative exchange.


Thanks for reading and please share your thoughts on this topic.

Regards,
Karl


Source: Bitcasino blog

8
Bitcoin Forum / Can you protect your Bitcoin from market volatility?
« on: August 02, 2021, 10:43:16 AM »
Hi there,

Cryptocurrency has a volatile market, and there are moments when investors can expect high turnover rates and growth while others aren’t as lucky. In times like this, it’s important to be educated by learning about the ins and outs of managing your cryptocurrencies to avoid drastic changes in the market.

Frequent crypto traders know that investing their digital assets in the market comes with pros and cons. Risks cannot be avoided in any form of investment, so the best thing you can do is devise strategies on how you can protect your digital assets from the volatility of the Bitcoin market.

However, most people wonder if it’s even possible to protect your Bitcoin or other assets from crypto market volatility. You may not be able to avoid it entirely but you can take several measures to lessen its impact on your hard-earned investments.

Tips to protect your Bitcoin from market volatility

Seasoned traders are able to distinguish good investment options from bad ones. However, this ability comes from experience and research. To make the most of your investment, here are some steps you can make to protect your Bitcoin from market volatility:

Personal research and education

Before starting, do your own research and educate yourself on the process of how to invest in crypto. This is especially important for first-time investors and beginners in the world of digital assets. Get an idea of how the market works first and familiarise yourself. The more you know about the market, the more you can make informed decisions on what will benefit your investments.

Read articles online, watch informative videos on YouTube or enlist the help of your friends and family who also invest in crypto. Knowledge is power in this volatile market, and to become adept in both crypto trading and investing, you will need the dedication to find the right information to make the right decisions.

Manage your money

Now that you have an idea of how the crypto market works, you will have to learn how to manage your funds well. Be sure to keep track of your money and have a record of everything you do such as transactions and losses and profits while trading. Managing your money and keeping track of it is an excellent way to protect it from market volatility.

To help you out, you can get tracking apps or platforms to provide assistance. Some of these apps include Blockfolio, Altpocket and CoinTracking. Utilise these tools to manage your investments and get an edge on the market.

Watch the market trends closely

This tip goes hand in hand with managing your money. While keeping track of your funds, be sure to monitor the market trends as well and understand how they move. Check to see if certain patterns affect the market trends and how they relate to the strategies you’re using for your investments.
When your digital assets ascend, descend or stay in a linear position, traders need to be on high alert for what happens next. Some people set reminders to check their funds at least every other day or once a week at most. You can also read about the crypto market and familiarise yourself with the trends, no matter how new or old they are.

Build a good portfolio

An investment portfolio is a collection of data that holds all of your investments and transactions online. You can think of it as putting all data of your cryptocurrencies in one space. If you ever want to look back on some of your previous trades, you can do so in an organised manner by having a good portfolio.
The benefits of having a portfolio go beyond something as simple as collation. You can use it on your own or enlist the help of professionals like fund managers and financial experts. A portfolio will show the pattern of your trading habits and help the experts make an informed decision to improve your trading experience.

Cautious yet streetwise trading

As previously mentioned, the volatility of the crypto market cannot be predicted accurately. You can rely on certain articles or the advice of experts, but you need to have your own trading style as well. To succeed in the crypto market, you have to know when to invest carefully and when to take risks. Always think twice before making a decision.

Think practical and your investments should follow afterwards. You can implement smart trading by learning the ins and outs of the market, doing your personal research and making decisions based on logical reasons instead of just hopping on the bandwagon.

Be open-minded while trading

When investing or trading, don’t be afraid to take certain risks. Try to be open-minded and seek out new trends and strategies that other traders are trying. For example, more people nowadays are looking to try day trading, which is buying and selling digital assets within 24 hours to make a quick profit. There are also other strategies like swing trading and scalping.

Although it seems like the best and safest decision is to stick with your routine, it won’t work forever. If the Bitcoin market is volatile, you should be able to adapt and change with the market to avoid falling victim to volatility and losing your funds.

Thanks for reading and you’re welcome to share your thoughts and tips.

Cheers,
Karl


Source: Bitcasino blog

9
Hello everybody!

The world of digital assets stems from the act of crypto mining wherein ‘miners’ solve complex mathematical problems to add blocks of transactional information to the blockchain. They are rewarded with bitcoin and other cryptocurrencies as an incentive for maintaining the network. However, to do all this, miners consume significant amounts of energy that lead to environmental concerns.

As more people take interest in the world of cryptocurrency and how it works, the demand for crypto mining increases as well.
What type of impact does this have on the environment in terms of energy consumption? Let’s find out.

How does crypto mining work?

To understand the effect of cryptocurrency on the environment, you should first know how crypto mining works. Here’s a step by step guide on how the mining process works:

Step 1 - Verifying transactions using nodes


There are two ways to mine cryptocurrency: using your own hardware or software or through a cloud mining service. Miners first verify the transactions using nodes to make sure they are legitimate, then they move on to the next step.

Step 2- Creating a new block of data

The next step is when blocks are added to the blockchain. When the transactions have been verified, these are added into a block of data where they can no longer be altered or changed.

Step 3 - Additional information and hashes are added

Hashing or using mathematical processes takes place next. When the new blocks of data have been added, hashes and other information are included. To generate the hashes that will serve as each block’s ‘fingerprint’, miners verify or solve mathematical problems to complete the process.

Step 4 - Verification

Once the new hash is verified by all members of the network through a consensus, the block is then successfully added to the blockchain. The miner who was able to solve the problem first will then receive a set amount of cryptocurrency as a reward.

Why does crypto mining require so much energy?

The process of mining demands large energy consumption, reaching up to 120 Terawatt hours every year, which is equivalent to around 1% of the world’s energy consumption.

Experts have compared this level of energy consumption to the likes of small countries like Greece, Argentina and Chile who use fewer amounts of power annually. But why exactly does crypto mining require so much energy?

Cryptocurrency blockchains are public and decentralised so the upkeep of the entire network is left in the hands of its community that consists of computers all over the world. Part of this community are miners who play a huge role in ensuring that the network is secured and immutable. To do this, they use high-powered mining equipment that consumes a lot of energy.

The environmental impact of cryptocurrencies

With the mainstream adoption of cryptocurrency, it’s important to understand the impact of crypto mining on the environment. One of the biggest effects it has on nature is carbon emissions. Due to crypto or bitcoin mining, the amount of carbon emissions on the planet has increased by 40 million tons just over the course of two years.

E-waste is also another result of crypto mining. As crypto becomes more in-demand, miners will have to upgrade their hardware to make the mining process more effective. Over time, the outdated machines are turned into e-waste that is considered useless and non-recyclable.

Overall, e-waste and carbon emissions both affect climate change. This means that they contribute to the breaking of the ozone layer that results in global warming and other environmental concerns.

The future between cryptocurrencies and the environment

The next step to take for most cryptocurrencies is to go with more sustainable options. If miners use renewable energy instead of fossil fuels, this could turn the situation around for the better.

The carbon footprint of crypto mining would decrease dramatically if it weren’t for the ‘proof of work’ process since it requires all miners in the network to solve cryptographic problems, which means expending a ton of energy.

In fact, there are now cryptocurrencies that don't require mining at all. Some of the more sustainable options like Cardano, Ethereum and Bitgreen use ‘proof of stake’ to validate their transactions. In the proof of stake process, only validators that have ‘staked’ their coins or have already processed transactions can verify transactions and be incentivised.

There are other steps being taken to mine cryptocurrency quickly and use less energy while doing so. For example, the government in El Salvador has recently adopted Bitcoin as their legal currency on June 9, 2021. These are mined using the energy from nearby active volcanoes to promote a more sustainable process.

When other digital assets follow in these footsteps, it will lead the world of crypto to a more eco-friendly future wherein cryptocurrencies and mother nature can co-exist peacefully.

Thanks for reading and waiting for your comments.

Cheers,
Karl


Source: Bitcasino blog


10
Hey crypto fans,

Despite only being launched in 2020, Curve has already solidified its place as one of the most competitive and leading players in the space of decentralized finance and is showing no signs of slowing down.

Built on the Ethereum blockchain, Curve (CRV) or also known as Curve Finance is decentralized finance that can facilitate seamless trade and liquidity between stablecoins and other digital assets. It is the brainchild of Michale Egorov, a Russian physicist who has been experimenting with various DeFi platforms since 2018. Learn more about this technology, Curve coin prediction and more below.

How does it work?

What makes Curve Finance different from other DeFis is that it’s designed to categorise cryptocurrencies, including stablecoins, with the same value in pools by liquidity providers. In return for offering liquidity, these providers or users will be incentivised.

Curve is made up of several pools. Currently, there are 17 pools with stablecoins such as USDT, USDC, DAI and BUSD while the rest are for wrapped Bitcoins or ERC tokens on the Ethereum Network that represent BTC such as wBTC, rentBTC and sBTC.

Curve uses deposited assets to provide liquidity through a technology called Automated Market Maker or AMM. This eases trading between stablecoins, resulting in lower fees and minimal slippage which happens when traders experience a price change when buying crypto. However, it’s important to note that if an asset doesn’t belong in the same price range, the formula used for executing the trade won’t take place.

What are liquidity pools?

In the DeFi ecosystem, liquidity pools are the foundation of facilitating seamless trades between assets. At its core, a liquidity pool is a digital pile of funds bound by smart contracts and funded by users who earn income through transaction fees. Every time they complete a transaction, a certain percentage of tokens is deposited into the liquidity pool.

This virtual ‘pool’ of money enables decentralised trading and lending. Liquidity pools give an advantage to both buyers and sellers because they offer leverage on pre-funded pools. This means that it offers cheaper fees and less slippage even when the asset being traded is illiquid. Illiquid assets are types of commodities that you can’t easily sell for cash without generating loss because of significant change in value.

What is the bonding Curve?

The bonding Curve is the line you see in the automated market maker equation that depicts the movement of the asset in the pool. It displays the relationship between the supply and price of an asset.

When a token is being purchased with tokens of similar value, the price tends to get more expensive and can exponentially increase to an infinite price that can cause more slippage and high fees.

What Curve Finance does is use its unique bonding curve to lower the price difference between stablecoins and avoid slippage when trading. This allows for instantaneous liquidity that doesn't require high fees.

CRV: Curve Finance’s native coin

CRV is used as Curve Finance’s native token that allows ‘voting’ to add new yield pools, change current fee structures and facilitate token burning.

A user’s voting power depends on the length of time their CRV tokens are locked inside the platform. ‘Locking up’ tokens in Curve Finance simply means you won’t sell your tokens and will just let them sit inside the platform. According to Curve, the maximum number of years a token can get ‘locked’ is 4 years, which grants the holder 2.5x voting power.

To encourage users to lock their tokens, Curve gives them returns as well as a percentage of the revenue they earn from transaction fees.

Where can you purchase CRV?

If you’re interested in buying CRV tokens, we’ve rounded up the best exchanges where you can buy them and their current Curve coin price:

Binance
Binance is one of the leading crypto exchanges in the world where you can purchase CRV tokens. As of writing, the price of the asset is at $1.68 with a volume of $19,475,111 while the volume percentage is at 16.07%.

Huobi Global
Huobi Global is a crypto exchange founded in China that is now based in Seychelles, East Africa. It’s one of the places where you can get CRV tokens for $1.69 as of writing. The volume of the asset is at $409,208, while the volume percentage is at 0.34%.

Kraken
Kraken is a US-based exchange founded in 2011 and is currently one of the leading places where people can acquire crypto. You can buy CRV tokens here for $1.678 as of writing. Currently, the volume of the token is at $198,358 and a volume percentage of 0.16%.

So, is Curve coin worth the investment?

Despite its fledgling status in the DeFi space, Curve has become one of the core platforms in the crypto and DeFi spheres today. Other blockchains are now reliant on its technology, proving that it’s functional and versatile in different types of crypto-related transactions. This 2021, crypto experts say that Curve coin price prediction can reach up to $3.66.

Moreover, its high yield rate is an appealing concept to both investors and users who want to minimize the risks involved due to fluctuations in price in Curve coin investing. Although what the future holds for Curve is still all speculation, the growing number of people using its unique technology shows signs of bullish growth in the coming years.

What do you think about Curve coin? Share your thoughts.

Thanks,
Karl


Source: Bitcasino.io blog

11
Greetings!

Cryptocurrency is one of the most important technological leaps since the internet. With its revolutionary features, people now have a seamless, transparent and cost-effective means to invest, trade and even process day-to-day transactions.

Despite the tough regulations imposed by different countries such as China and India, the growth of cryptocurrency is unceasing with other nations still considering it as a viable alternative for fiat currencies.

One of the countries that are making a head-on run in the crypto adoption race is El Salvador. On June 9, 2021, President Nayib Bukele announced that Bitcoin will be the legal tender of the country, along with the US Dollar. According to Bukele, this movement towards digital currencies will spearhead ‘financial inclusion’ and economic growth in the country.

Why did El Salvador make Bitcoin its legal currency?

Currently, El Salvador doesn’t have its own currency and is using the US dollar as its legal tender. When the coronavirus pandemic hit, the US Federal Reserve had to increase the circulation of the US dollar from $15.35 trillion to $20.26 trillion in May 2020. This sudden surge in money printing caused inflation that depreciated its purchasing power.

Moreover, President Bukele also said that almost $6 billion was lost to intermediaries and third-party financial institutions from remittances and cross-border transactions. He added that at least 70% of the country’s population doesn’t have access to traditional fiat services. With Bitcoin as a legal tender, Salvadorans won't have to create bank accounts to access their money and get financial services.

Additionally, the country will have an alternative to the US dollar in case of inflation. The country is set to fully adopt Bitcoin in August of 2021. To speed up the process of Bitcoin adoption in the country, Bukele is asking the International Monetary Fund for US$1 billion financial assistance.

Where can Salvadorans use Bitcoin?

According to the bill passed, ‘every economic agent’ in El Salvador is expected to accept Bitcoin for people’s transactions. When Bitcoin is adopted on a nationwide scale in the country, citizens can now pay, send and receive Bitcoin funds locally and internationally. The bill passed also states tax contributions will also be paid in BTC.

On the citizens’ end, using Bitcoin is still optional. The government guarantees that the exchange between Bitcoin and dollars will be easy at the time of transaction because there will be a $150 million trust fund stored in BANDESAL, El Salvador’s development bank.

President Bukele also said that people who will invest at least 3 Bitcoins in the country’s economy will gain instant citizenship in the country.

Mining through Bitcoin volcanoes

Another thing to note about El Salvador’s Bitcoin adoption is that they will use environmentally friendly means to mine tokens. To acquire BTC, they will utilise the energy coming from volcanoes from the state-owned geothermal electricity company in the country.

This will solve the massive power consumption problem associated with Bitcoin mining and other cryptocurrencies. According to Bekele, the process will be ‘very cheap, 100% clean, 100% renewable and cause 0 emissions from our volcanoes’.

What does the future hold for Bitcoin adoption?

El Salvador’s bold move to adopt Bitcoin as a national currency is proof that digital assets are not just useful for individual users and businesses alone. Right now, many countries in the Central America region are looking at Bitcoin adoption as a way to improve the economy. Countries such as Paraguay, Panama and Mexico are some of the nations considering using Bitcoin on a national scale.

Only time will tell if making Bitcoin a legal tender is a smart move for El Salvador, but this decision is a testament to the capabilities of cryptocurrencies to usher in a new age of a more inclusive and decentralised monetary system.

Thanks for reading. You are welcome to share your thoughts.

Regards,
Karl from Bitcasino


Source: Bitcasino blog

12
Hello crypto fans,

Crypto payments are slowly making their way into mainstream use thanks to major companies adopting digital coins into their transactions. At the forefront of this trend is PayPal, an American-based payment service app used by millions of people worldwide.

Right after PayPal, companies like Visa, and Mastercard followed along, allowing their users to transact using popular cryptocurrencies like Bitcoin and Ether. This solidifies PayPal’s position in the crypto world as an industry titan that can help usher digital coin transactions into mainstream use.

With this in mind, how does PayPal fare in comparison with crypto exchanges that specialise in digital transactions?
Can PayPal rival Coinbase, the biggest and most popular crypto platform in the market? Let’s find out below.

What you need to know about the platforms

Coinbase

Crypto exchanges are a platform where users can transact and invest in digital coins. Since 2012, Coinbase has been offering its services to US crypto investors, fine-tuning its features throughout the years to suit the needs of its users.

The platform is mainly geared towards beginners with an easy-to-navigate interface. Moreover, Coinbase offers a wide range of features and services that focus on crypto investments, advanced trading, custodial accounts, and wallet storage.
Aside from that, the exchange offers a secure network where you can safely trade and transact with digital currencies.

PayPal

On the other side of the coin is PayPal. Although the payment solutions platform has served its customers for years through online payment and transfers, its PayPal crypto services is still in its infancy.

Through the Venmo app, PayPal users are now allowed to trade and purchase crypto assets through the account’s funds. Since accounts can be linked to debit and credit cards, you can seamlessly use fiat money to buy digital coins through the PayPal app.

Once you’ve topped up on your selected cryptocurrency, you can now purchase goods and services using crypto through your PayPal accounts. Moreover, PayPal can also act as a custodian of your crypto investments. You can use your account as a wallet to store your digital coins, similar to one of the key features of Coinbase.
 
Coinbase vs PayPal: Pros and cons

To take the PayPal crypto vs Coinbase discourse further, you need to understand the advantages and disadvantages of using each service provider. Here are some of the pros and cons you need to consider when choosing which platform to use for your crypto transactions:

Coinbase advantages

The main appeal of Coinbase is its easy and user-friendly interface. You can check your transactions and crypto balance just by simply going to your account and visiting the dashboard. Here, you’ll find data on crypto transactions and investment plans including market updates on the prices of each digital coin.

Moreover, Coinbase is a great platform for crypto trading and investments, especially if you're interested in various altcoins. There are 46 digital coin offerings in the platform including Bitcoin, Ether, Litecoin, XRP, and LINK. You can purchase multiple digital coins as long as it's available on the platform.

There’s also a price alert feature that helps you monitor your investment if the digital currency goes above your target price or dips below it. Moreover, coins stored in the exchange’s wallet are also insured in case of security breaches, so you will never have to worry about losing your funds.

Coinbase disadvantages

The most pressing disadvantage with the Coinbase platform is its high transaction fees since it also offers more convenience for traders. However, you can lessen these fees simply by switching to Coinbase Pro, a version of the exchange with specialized features catered to more advanced crypto traders.

Another thing to consider with Coinbase is that it is only accessible through a browser. Currently, there are no Coinbase apps available for mobile devices. You can still access it using your Android or iOS compatible phones through a web browser app.

PayPal advantages

When it comes to payment services, PayPal outweighs Coinbase since the platform allows account holders to seamlessly use crypto as means of payment in the app. Additionally, the app can also act as a crypto wallet where you can hold digital coins supported by the platform.

With the app's recent crypto adoption, PayPal has an edge over Coinbase since users can now manage their digital assets as well as their fiat money all in one platform. This offers more flexibility in the various payment methods users can access at any given time.

Moreover, the platform has state-of-the-art network security that protects your data from third parties. What solidifies its edge over Coinbase is its mobile-friendly app that is compatible with both Android and iOS devices.

PayPal disadvantages

Unlike Coinbase and other crypto exchanges, PayPal can only accept 4 cryptocurrencies which are Bitcoin, Ether, Litecoin, and Bitcoin Cash. Moreover, you can only access purchased coins using your PayPal account. There’s also a US$20,000 weekly limit for crypto purchase using your account. This makes it hard for advanced traders to invest large amounts of money in digital currencies.
 
Final verdict on the PayPal vs Coinbase battle

Since PayPal is still a newcomer in the world of crypto transactions and services, Coinbase still holds an advantage when it comes to large digital coin investments. Its platform is easy to navigate and specifically catered to traders with investment data accessible through the dashboard.

On the other hand, Coinbase also has its limitations, especially with day-to-day crypto transactions. This is where PayPal comes in handy since its platform allows you to buy goods and services with digital coins you acquire through the app. In the end, while Coinbase has more features when it comes to trading, there’s still a lot of room in the industry for PayPal to become its worthy rival in the near future.

Please share your thoughts on which platform is better for you?

Thanks,
Karl


Source: Bitcasino blog

13
Bitcoin Forum / Will Bitcoin ever run out?
« on: May 31, 2021, 02:25:03 PM »
Hello, Bitcoin fans!

Despite its rise and fall in value over the last few years, Bitcoin is still one of the most in-demand cryptocurrencies in the market. With the increasing number of people diving into Bitcoin, more and more BTCs are being mined every single day, which poses the question: Will Bitcoin ever run out? If you’re interested in more about what’s in store for the future of Bitcoin, then read on.

What is Bitcoin mining and how long will it take?

Currently, there are roughly 18,000,000 BTC tokens in existence. When the limit is reached, there will be no more tokens created. According to Decrypt.com, the last Bitcoin will be mined in 2140. 

Often referred to as the ‘digital gold’, Bitcoin is obtained through a process called ‘mining’ where ‘miners’ can produce Bitcoin tokens by solving a complex mathematical problem in the blockchain. Bitcoin has a hard cap of 21 million. Meaning, there is a finite number of Bitcoin tokens that can be mined. 

What happens when the last Bitcoin is mined?

A Bitcoin token is produced every 10 minutes when a miner adds a new block to the chain. Each time a miner successfully processes a transaction, they are rewarded in BTC. 

Once the last Bitcoin transaction is made, all the miners in the chain will still be a part of the network, but they will no longer receive BTCs as incentives for maintaining the blockchain.

As the price of Bitcoin continues to rise, it encourages a lot of people to become miners. Through the use of high-end devices, miners are able to participate and add more blocks to the chain. However, if this process goes unchecked, the supply can run out immediately. 

18.5 million Bitcoin tokens have already been mined. With roughly 3 million tokens left, it’s easy to imagine that Bitcoin’s mining stage could be coming to an end soon. 

To slow down the production of tokens, Bitcoin halving happens when the 210,000 blocks are added to the blockchain. During this event, the miners’ rewards are halved to ensure that the value of Bitcoin becomes scarce, which in turn pushes up its price in the market.

When the first Bitcoin was mined, miners would receive a reward of 50 BTC. It was cut by 50% in 2012, which decreased their incentives by half. Then in 2016, miners received 12.5 BTC, and then it was again cut in half so it became 6.25 BTC in 2020. When the 740,001st block is added to the chain, the reward will be 3.125 BTC. This halving process will continue every four years until all the tokens are mined. In the Bitcoin timeline, BTC tokens won’t run out for the next hundred years. 

The importance of Bitcoin’s finite supply and Bitcoin halving

The idea of an unceasing production of Bitcoin is enticing, but just like everything else in the economy, it must follow the law of supply and demand. If new Bitcoins are steadily added to the blockchain, it would result in overproduction. When this happens, the value of Bitcoin will decrease. 

Contrary to the traditional banking system, minted Bitcoin tokens cannot be reprinted by the government. Because of its hard capped supply, the 21 million will stay fixed and keep its circulation in the market in check. 

Is it time to mine or buy Bitcoin?

There’s no better time than now to join the crypto fray. As cryptocurrency gains traction by the day, people can see the undeniable rewards of investing and mining. If you’re a tech-savvy person, mining is an option. 

On the other hand, if you’re keener to trade or just simply keep your tokens, then buying Bitcoins is better for you. Just look for a Bitcoin Exchange that features trading, buying and selling, as well as a reliable crypto wallet.

Bitcoin’s supply will not run out in the next hundred years or so and it still has time to change the financial sector as we know it. With its significant growth in the past few months, Bitcoin is on its way to ushering in the revolutionary promise of blockchain technology and decentralisation. 

Which is better for you, to mine Bitcoin or buy Bitcoin?


Thanks for reading and waiting for your thoughts.
Cheers,
Karl from Bitcasino

14
Litecoin News & Updates / Will Litecoin ever hit the $10,000 mark?
« on: May 20, 2021, 08:34:23 AM »
Hello crypto guys!

On May 10, 2021, Litecoin (LTC) reached an all-time high of $414, according to Coinbase and Morning Star.
That’s close to a 10,000% value increase from its original $4.30 opening price, back in 2011. The idea that Litecoin and other cryptocurrencies have massively increased in value comes from a steady spike in the global adoption of cryptocurrencies.

Now the question on every savvy crypto enthusiast's mind is, just how high is the trading price of Litecoin set to climb in years to come? Does the currency have the backing to hit the $10,000 mark by 2030?

Well, it depends on who you ask. While there are factions that feel that Litecoin’s peak has already been reached, many seasoned crypto experts/exchanges and firms anticipate the coin to rise exponentially in the next decade. Let’s briefly unpack the argument on both sides of the spectrum.

Arguments in favour of Litecoin reaching $10,000 by 2025/30

The cryptocurrency market is experiencing unprecedented growth. Whether down to influential billionaires encouraging the use of altcoins via Twitter, the impending diversification of massive financial institutions, or the state of the world in the wake of COVID-19.

Any which way, it’s pretty clear that a vast majority of the world is moving to permanent digital adoption. And, the potential for Litecoin to reach $10,000 is a sure fire indication that cryptocurrency stands as the ultimate forerunner to where our investments, finances and lives are moving to as a population.

A worldwide crypto boom has taken place recently, from Elon Musk advocating DogeCoin and Bitcoin climbing higher than it’s ever been before, the world is wide awake to the infinite possibilities that come with investing in crypto. Litecoin is part of the action and benefited from the worldwide boom in crypto coin adoption.

Litecoin for the people
After billionaire Tesla tycoon Elon Musk tweeted that “Dogecoin is the people's crypto”, a digital shockwave reverberated throughout the world and a “joke” coin saw a 12,000% value increase almost overnight. This ripple and others like it have, by default, helped raise the price of Litecoin, Bitcoin, Ethereum, and any other leading cryptocoin.

Why? Cryptocurrency is, in essence, a marketing machine and, at the end of the day, only as effective as the people that stand behind it. If the mass popularity and support of cryptocurrency continues to climb, so will its adoption, and most importantly,
so will it’s value.

These days, a Twitter post has the power to change the financial market. Who's to say this trend won’t continue? That the next high profile Litecoin advocate won’t have enough sway to send the price to $10,000 by 2025 or 2030!

Litecoin brings in new investment potential and changes the financial sector
While we’re on the subject of mass adoption, the world is catching on to the viability of cryptocurrency as an alternative investment.
Brick and mortar securities are taking a dip and the global adoption of digital assets are on the rise. According to a recent study done by Charles Schwab, the number of Gen Z and Millennial investors willing to forego traditional stocks to invest in crypto and other digital assets is reaching 51% of the population.

And it’s not just the public making a move to cryptocurrency adoption. According to Statista, some of the biggest financial institutions, investment firms, and fintech providers have been rapidly investing in blockchain technology, from 2019 up till now, with banks leading the charge.This all bodes extremely well for a continued spike in Litecoin value as well as other major altcoins. With so many major institutions adopting Bitcoin as a viable payment method, it’s a matter of time for networks like Litecoin to follow.

The rate of financial institutions investing in Blockchain technology.



Above metrics courtesy of Statista

Ongoing improvements to the Litecoin protocol
Throughout the global hype, Litecoin has continued to evolve and refine its existing protocols, both as a network and currency.
Big updates have been realised, such as the MimbleWimble extension block upgrade. MimbleWimble will improve and build on key protocols that arguably, up until now the currency has been falling behind on. The upgrade will boost and secure the overall fungibility and privacy of the blockchain. By default, this move will boost overall scalability, leading to continued adoption. In fact, many experts are saying that this upgrade will massively influence the price of Litecoin (LTC) over the next 5 to 10 years. With the above taken into account, there may be downsides to the recent Litecoin spike.

Arguments against Litecoin reaching $10,000 by 2025/30

While the majority of crypto enthusiasts see only growth on the horizon for Litecoin, there is still speculation from certain factions that Litecoin can, and might already be dropping into a bear market. Some reasons being:

* The potential overvaluation of Litecoin
With such a massive valuation occurring in such a short space of time, certain leading crypto-watchers maintain that Litecoin (LTC) may be overvalued in the current market.

This impression comes on the backend wave of a massive (and potentially unsustainable) bull run where a number of altcoins (Litecoin, included) have received widespread attention and continued support as a solid investment option. Without the continued championing of the coin from influential holders and the public as a whole, there is a relatively good chance that the bubble might burst and the price will start to diminish from here on out.

* Litecoin overbought?
The LTC/USD relative strength index (RSI) has been reporting an overall rate of inflection ranging from 77 to 79.02. In plain terms,
the sheer number of individuals investing in the coin is inflating the value massively, so that, as of last month, the coin sits at 9 points higher than the “overbought” threshold. There’s a chance that this could lead to market price corrections. If this goes ahead, the price will start to decrease in a bid to level out.

Added to the above, the current Litecoin halving has nowhere near the same impact as Bitcoin. With the next Litecoin halving (August, 2023) the end block reward is going to decrease by 6.25 LTC. Adopters and users speculate that this may only slightly raise the value of the coin appreciation capability.

* Litecoin Credibility, under fire
Lastly, the power to promote the ongoing value of any altcoin comes straight from the top. Back in December 2017, Litecoin creator
Charlie Lee made the unprecedented move to sell off his entire portfolio of Litecoin (LTC). While this was widely regarded as a necessary move taken to avoid a potential conflict of interest, (as he was at the time starting a new role at Coinbase crypto exchange) it sent shock waves through the existing Litecoin community and begged the question: “does he know something we don’t”.

The fear, uncertainty and doubt caused from this decision lowered the credibility of Litecoin for a while, but since resuming his position as managing director of the Litecoin network, faith is starting to be restored in the potential for Litecoin’s price to rise to $10,000 in decades to come.
So, with that said, let’s recap.

Will Litecoin reach $10,000 by 2025?

The short answer is NO WAY! Certainly not by 2025 at least. Having only started to near the $500 mark, there is still a long way for LTC to go in terms of its global evaluation and adoption. That being said, there is a lot of potential for the Litecoin valuation to rise higher in the next few years, with a lot of industry experts, investors and exchanges sharing the same sentiment.

A quick scan of notable crypto/fintech trading indexes have “same, same but different” answers to the question. Some, more optimistic than others. The Crypto Research Report Group cites the price to reach $1,200 by 2025 and almost double to $2,300 by 2033. A long way off from the $10 000 mark but a strong increase nonetheless. Coin Switch agrees, believing that, with the August 2023 halving event, Litecoin could hit $1,200+.

Then you’ve got public opinion to go on as well. According to a few LTC/CRO surveys conducted in the last few months, around 80% of the Litecoin community predict a $1,000 evaluation by 2025.

Then you’ve got companies like Coin Price Forecast, who far more optimistically, expect the LTC price to hit $1,600+ by as early as 2022. Looking even further down the line to the future of LTC.

Will Litecoin reach $10,000 by 2030?

Again, given expert opinion and fluctuating market trends, it’s highly unlikely we’ll be seeing growth anywhere near the $10,000 mark by 2030, but with Litecoin having gone through its fourth halving process by this time, the coins availability of circulation will start to tighten and there’s a strong chance the price will continue to climb from there.

Coin Price Forecast speculates the price to hit $2,500 by 2030, while Coinbase, more reserved but still optimistic, sees the LTC price rising to around $1,350. According to Crypterium, LTC could go as high as $1,500 while most global crypto adopters feel that the price might get to $2,000+, as long as the network keeps up with global demand for increased speed, transparency and security.

The general feeling is that by 2030, Litecoin will reach equilibrium at $1,500.

The Lite at the end of the tunnel
Speculating the Litecoin price for five or even ten years down the line is just that! Speculative at best. There are a number of factors, financial and social, that will influence the price of Litecoin moving forward. That said, general agreement holds that LTC will continue to grow as both a network and as a viable digital asset.


Thanks for reading and waiting for your thoughts.

 
Cheers,
Karl from Bitcasino

15
Further Education / Crypto kings and queens: Who are they?
« on: May 07, 2021, 08:46:08 AM »


Hello, crypto fans

We all know Satoshi Nakamoto. But the cryptocurrency industry would be nothing without its innovators who have worked hard to turn it into a success.
These people have fostered the popularity of cryptocurrency and are one of the reasons why it’s so widespread around the world.

Thanks to them, the world has Bitcoin and other cryptocurrencies, as well as a plethora of innovations in the form of digital assets, platforms and systems.
Not only that, these cryptocurrency trailblazers continue to drive the crypto movement towards mainstream finance adoption and other developments.

The crypto industry is yet to reach its full potential. You never know what new innovations will be made to improve it,
but you can rest assured that the best minds are on the case. Keep reading to learn more about some of the most influential people in crypto:

Changpeng Zhao: Founder of Binance

Changpeng Zhao, also known as ‘CZ’, is the CEO of the largest cryptocurrency exchange in the world.
After studying computer science at McGill University, CZ began to work in the financial and technology sector.

His extensive experience in the industry includes being a developer for trading software and a technology officer for OkCoin.
However, the real magic began when Zhao founded Binance in 2017.

Binance first started out in China then soon expanded to countries like Japan and Taiwan as their success continued to grow.
Trusted by millions of users worldwide, the exchange continues to be a trailblazer in the industry.

Today, Zhao continues to dedicate his time and effort into Binance and its growth. It maintains a steady flow of demand despite being
one of the oldest crypto exchange platforms. Meanwhile, its native token BNB coin is also gaining traction in the market.

Vitalik Buterin: Founder of Ethereum

Known as the great mind behind Ethereum and Bitcoin Magazine, Vitalik Buterin is undoubtedly a household name in the crypto world.
At a young age, he was already drawn to technology, maths and economics.

In 2013, he proposed a whitepaper that plotted his plans for the Ethereum platform and cryptocurrency, which was then launched the following year.
Since then, Ethereum rose through the ranks and is now one of the best cryptocurrencies in the world. With a market capitalization of $249 billion,
it maintains its place after Bitcoin.

Brian Armstrong: CEO of Coinbase

Brian Armstrong is well known in the crypto industry because of his opinions regarding different issues and controversies in the crypto sphere,
as well as suggestions on improving it. Some of these include his clash with the Trump administration in 2020 and his words of wisdom to crypto
beginners about getting started in the industry. Armstrong started his career as a software developer and engineer for companies like Airbnb and IBM.

Upon acquiring $150,000 worth of funding in 2012, Armstrong used it to launch Coinbase. It soon became one of the most sought-after crypto exchanges
worldwide with more than 43 million users. Today, Coinbase is the first and only cryptocurrency exchange that has filed with the SEC to go public.

Joseph Lubin: Founder of ConsenSys

Born and raised in Canada, Joseph Lubin grew to pursue his passion for finance and computer science. After graduating from Princeton University,
his career slowly took off until he became the COO for EthSuisse, where he worked on the program-storing capabilities of blockchain.

Soon after, Lubin was invited by Vitalik Buterin to be one of the co-founders of Ethereum. He contributed to improving ETH through blockchain programs.
However, he is most known for founding Consensys in 2015. ConsenSys is a production studio dedicated to software and applications that are designed
to run on the Ethereum blockchain.

Amiti Uttarwar: The first woman to contribute to developing Bitcoin Core’s underlying code

In the cryptocurrency industry, female names are rarely heard of. However, this all changed when Amiti Uttarwar, a Bitcoin Protocol Engineer for
Bitcoin Core became one of the first women to contribute to developing its underlying code.

Uttarwar started her career as a developer who was proficient in dozens of coding languages. This gave her the opportunity to work with big names
in the crypto industry such as Coinbase.

Moreover, her career took off in Bitcoin Core where she became the first woman to contribute and gain funding to work on the software.
Aside from this, she also mentors other aspiring professionals who are looking to start a career in the industry as well.

Pavel Durov: Creator of privacy-focused messaging app, Telegram

Who would have guessed that a messaging app would be able to contribute to the crypto world? This is exactly what Pavel Durov,
the ‘Mark Zuckerberg of Russia’, did when Telegram was launched in 2013.

Durov believes everyone should have access to private communication. With the help of his brother, Nikolai Durov, the application soon became
a popular platform for crypto enthusiasts. Telegram became a gathering hub for crypto enthusiasts because of its privacy features.
It also supports news channels for crypto, as well as updates on crypto trading signals.

Brad Garlinghouse: CEO of Ripple, the 4th best cryptocurrency in the world

Garlinghouse specialises in financial technology and has worked for notable companies like AOL and Yahoo!
In 2015, he joined the Ripple team as COO and was promoted to CEO the following year.

Although the company has had its fair share of problems, especially with the latest SEC lawsuit, Garlinghouse remains positive.
The company has since bounced back and maintains the 4th spot of the best cryptocurrencies in the world.


These crypto kings and queens along with countless others are the reason why the cryptocurrency industry continues to break barriers and grow in popularity.
Public demand has risen and it’s all because of the technological advances and initiatives that stemmed from these experts.


Thanks for reading and you are welcome to share your thoughts.
Who else would you add to this list?

Regards,
Karl from Bitcasino

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