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Crypto TREND – Fifth Edition

As we expected, we’ve received a lot of questions from readers since Crypto TREND was released. In this edition we will answer the most common ones.
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What changes are there that could be game changers in the cryptocurrency sector?

One of the biggest changes that will affect the world of cryptocurrency is the alternative method of block validation called Proof of Stake (PoS). We will try to keep this explanation at a fairly high level, but it is important to understand what the difference is and why it is a significant factor.

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Remember that the underlying technology with digital currencies is called a blockchain, and most current digital currencies use a validation protocol called Proof of Work (PoW).

With traditional payment methods, you need to trust a third party, such as Visa, Interact or a bank or check clearing to settle your transaction. These trusted entities are “centralized,” that is, they keep the main ledger that stores the history of the transaction and the balance of each account. They will show you the transactions, and you have to agree that it is correct or start a dispute. Only the parties to the transaction ever see it.

With Bitcoin and most other digital currencies, major books are “decentralized,” meaning everyone on the network gets a copy, so no one should have to trust a third party, such as a bank, because anyone can directly verify the information. This verification process is called “distributed consensus”.

PoW requires “work” to validate a new transaction to enter the block chain. Through cryptocurrencies, this validation is done by “miners” because they have to solve complex algorithmic problems. As algorithmic problems become more complex, these “miners” need more expensive and powerful computers to solve problems before others. “Mining” computers tend to be specialized, typically using ASIC chips (Application-Specific Integrated Circuits) because they are more skilled and faster at solving these difficult puzzles.

Here is the process:

  • Transactions are grouped into a “block”.
  • The miners check that the transactions made within each block are legitimate by solving the puzzle of the hashing algorithm known as “proof of the work problem”.
  • The first miner to solve the “proof of work” of the block rewards a small amount of cryptocurrency.
  • Once verified, transactions are stored in a public blockchain throughout the network.
  • As the number of transactions and miners increases, so do the difficulties of solving hashing problems.

Although PoW has helped blockchain and decentralized and trusted digital currencies, it has real shortcomings, especially with the amount of electricity consumed by miners trying to fix “evidence of labor problems” as quickly as possible. According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin miners use more energy than 159 countries, including Ireland. As the price of each Bitcoin rises, more and more miners are trying to solve problems, consuming even more energy.

All of this energy consumption to validate transactions has led them to look for an alternative method of validating blocks in the digital currency space and the main candidate is the “Proof of Stake” (PoS) method.

The PoS algorithm is still there, and the goal is the same as in the work evidence, but the process for achieving the goal is different. With PoS there are no miners, but instead we have “validators”. PoS is based on trust and knowing that everyone who is validating transactions has their skin on the game.

In this way, instead of using energy to respond to PoW puzzles, a PoS validator is limited to validating the percentage of transactions that reflect its ownership share. For example, a validator with 3% of available Ether can theoretically only validate 3% of the blocks.

In PoW, it will depend on the amount of power to calculate the chance of proving a work problem. With PoS, the “game” depends on how much cryptocurrency you have. The higher the stake, the better your chances of fixing the block. Instead of winning cryptocurrencies, the winning validator receives transaction fees.

Validators include a locked part of their fund token in their game. If they try to do something harmful against the network, such as creating an “invalid block”, their participation or security deposit will be lost. If they fulfill their job and do not violate the network, but do not earn the right to validate the block, they will return the stake or deposit.

If you understand the basic difference between PoW and PoS, that’s all you need to know. Only those who intend to be a miner or a validator should understand all the outputs of these two validation methods. Most of the public who want to hold cryptocurrencies will buy them through an exchange, and will not participate in the actual mining or validation of block transactions.

Most in the crypto sector believe that for digital currencies to survive in the long run, digital tokens need to be changed to a PoS model. At the time of writing, Ethereum is the second digital currency behind Bitcoin and their development team has been working on a PoS algorithm called “Casper” in recent years. We expect to see Casper implemented in 2018, putting Ethereum ahead of all other major cryptocurrencies.

As we have seen before in this sector, the important events to implement Casper’s success can be much higher prices for Ethereum. We will update you in the next issues of Crypto TREND.

Stay tuned!

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Bitcoin Mining Getting Started Guide Step

Bitcoin Mining Blockchain is an act of verifying transactions made in each. This gives validity to each transaction and then publicly shares the transaction on the peer-2-peer network so that everyone can see it. Bitcoin miners are responsible for verifying and validating each transaction before creating a blockchain to create a blockchain. Once a miner places the next block in the blockchain, he or she can claim a reward in the form of bitcoins. The more mathematical calculations you solve, the more rewards you will have.
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You do not need to be a professional software developer or coder to participate in Bitcoin mining. Below is a simple step-by-step guide for Bitcoin mining beginners.
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Get Bitcoin Mining Hardware

Bitcoin mining hardware

The world of mining is becoming increasingly complex as more computing power is used in mining. The higher the level of mining, the more difficult it is to make a profit, as the investment in hardware is very large. Bitcoin mining is very competitive and you need to do proper research before investing in the right hardware. It was previously possible to use your personal CPU to extract Bitcoins, but with the complexity of mining, this method is no longer feasible. You need to buy a specially built computer whose main purpose is bitcoin mining.
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Get the Bitcoin wallet

Bitcoin wallet

You must have a local or online-based wallet to store your digital currency. The wallet includes the public address and private key or password of the wallet, the most important details to keep in mind. If your portfolio is self-hosted, you need a copy of the wallat.dat file to avoid losing your investment. It works as a protective case if something unfortunate happens to your machine. Wallets for their mobile devices can also be obtained. The recommended portfolio is a self-hosted or locally made portfolio.
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Find a pool to join

Mining Pool

It is recommended to choose to enter a mining pool or to go out alone. The mining pool is a group of miners who come together to share resources and share prizes. A pool gives you faster returns when you combine computer results for better results. Each pool has its own rules, reward method and mining fee. You need to find the one that best suits your needs. Mining alone is complex and you may never get a return on your investment.
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Get a Mining Software for your computer

Mining Pool

Depending on the hardware you are using there are many free mining programs. The mining program helps you control and control your hardware. Some common mining programs are CGminer, BFGminer and EasyMiner. If you are in a pool, it’s a good idea to check your pool while you connect to your program. Programs run on the command line and may need a batch file to start properly.
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Mine

After all this you are ready. Run your mining program and start by entering the pool username and password. You will notice that your machine slows down while the miner is working.
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It is very important to watch the temperature up close as the software heats up the hardware. Some programs like SpeedFan can control the temperature. You literally don’t want to risk exploding your investment even before you start working. After a while, you should check how much investment you are making to see if your investment is worth making.
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Can you build bitcoins on your phone?

Let’s look at the Bitcoin price index from July 2012 to September 2020 to better understand this digital currency –
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Users who have traded Bitcoin have used a number of applications for Android, which are also used to store Bitcoins. There are several apps available and you can download the best bitcoin app from Google or Google play store.
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With the constant rise and fall of the price of Bitcoin in India, Bitcoin will rise or fall in the current price. In addition, Bitcoin mining has taken precedence over everything else, and there are several applications for smartphones to extract Bitcoin. If you’re not interested in mining, you can buy Bitcoins in Indian exchange using Bitcoin, such as WazirX.
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Is It Possible To Extract Bitcoins Using Mobile?

Yes, Bitcoin mobile mining is possible; but there are also several reasons for not moving forward. In addition, there are few cryptocurrencies that do not require a working proof mechanism, which are in their infancy through the telephone.
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As we know, today’s phones are very powerful and can be used for cryptocurrency mining. But, when we compare the tools that miners use for Bitcoin mining, they are very powerful and sophisticated. Getting out on smartphones means less appeal in terms of rewards.
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The user can extract Bitcoins on the phone on a smaller scale or the user can access a mobile mining holding or mining pool. When network miners share prizes, you will receive a small percentage depending on your computing power.
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How can you make mine using Smartphones?

You can use your phone for Bitcoin mobile mining, as Android is a mining-resistant OS for mobile devices. As the Indian BTC rate is variable, the market is developing more Android applications, which allows the smartphone to extract bitcoin directly. These apps cannot be found in the Google play store, if any.

Applications that can be used in Bitcoins mining via smartphone

If you’re still entrenched in mining via bitcoin mobile, the only requirement is that you need a mining app and a battery charger to stay on top. Below are some apps that can be used to exploit your phone via Bitcoin.

  • MinerGate
  • It’s a mobile mining app that helps you extract Bitcoins and Altcoins. Some of them are Dash and other altcoins. In addition, MinerGate offers the best internal wallet so you can store your bitcoins and other cryptocurrencies.

  • Bitcoin Miner
  • It is one of the most popular applications available on most devices today. It offers a useful interface and you can find good reviews of its performance. The Bitcoin mining app supports multiple currencies.

  • AA Miner
  • This app supports Bitcoin, Litecoin, Dash, DigitalNote and many other cryptocurrencies. This application is mainly used to exploit cryptocurrencies for Android.
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    Final reflections

    Although mobile mining doesn’t offer more rewards, it’s not a complicated process. The only requirement is that you need a smartphone and download the best mining application. When you are using your phone, the application runs in the background; and these apps interfere with your phone’s performance. In the end, we can say that telephone mining is one of the simplest ways to make money, but it is not like using specialized hardware through computers.
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    Featured

    The Bitcoin Mining Game has changed

    Integrated circuit machines for ASCI or specific applications have reached the Bitcoin mining market. The first machine arrived at a miner’s home in late January and since then reports have been being sent to ship bulk ASCI machines to access the Bitcoin mining platforms.
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    Because ASCI machines are specifically designed for Bitcoin mining tasks, they are highly efficient on highly designed machines. Higher ASCI machines have a hash rate of one million per second. A normal CPU running Bitcoin mining software has a hash rate of 1.5 seconds.
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    Needless to say, ASCI machine shipping has been a game changer in the Bitcoin world. CPUs are not even supported by Bitcoin mining software, 24 hours a day a CPU will probably not see Bitcoin for several years, even if it is mining in a pool.

    This trend favors those interested in mining for the use of expensive hardware worth about thousands of dollars, as well as the first recipients of Bitcoin mining, who have probably achieved great returns in their first mining efforts. These early gains can be incorporated into new and larger hardware and platform configurations to continue to generate Bitcoins well in the future.
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    These miners who use relatively powerful GPUs are getting worse as a result of the development of ASCI. Difficulties in successfully exploiting the Bitcoin block can cause electricity costs to exceed the payment that GPU miners will see in Bitcoin year after year in Bitcoin.

    All this speculation is related to the price stability of Bitcoin. If Bitcoin stays around the current 30 usd level, innovation will continue to advance. The ASCI has contributed in part to the rally that Bitcoin has seen over the last 2 months. Bitcoin’s USD exchange rate has risen from $ 10 to $ 30. It’s hard to find an investment with this type of return anywhere on the planet, so it’s only natural for Bitcoin to attract attention in recent days. But will that attention last? And if so, will it bring more study and volatility to young digital currency than stability? Long-term relative stability is a feature that Bitcoin must establish if it is to meet the original goal of being a viable and competitive currency globally.

    So will Bitcoin surpass the current label of the speculative tool? The answer lies in a tangled web of variables that encompass the broad spectrum of humanity: politics, psychology, finance, fear, freedom, privacy, security … Whatever the outcome, it is sure to be a fascinating spectacle.

    The most hated asset

    I have spent my whole life pointing out potential risks: in our economy, in the real estate market, and in the stock market. Too often, we pay special attention to the security of our assets while taking unnecessary options.

    But sometimes you also have to consider the other side of the risk / reward coin. All assets have a buyer – if the price is low enough.

    And I think that’s where the market is today among the commodities.

    It is a matter of risk / reward.

    Real estate prices are very high. Interiors of the Federal Reserve also say there is a bubble in commercial property. You have heard a lot of news from us and others about stock market concerns.

    In the face of the risk and reward of these two sectors, well … the “reward” part, after a profit of more than six years, is used as much as a bottle of champagne in the morning after New Year’s Day.

    The case of raw materials

    Commodities are the other side of the asset coin. Of course, oil prices have doubled since the beginning of the year, and precious metal prices have risen by about 20%, but no one is close to their peak a few years ago. The rest of the raw material complex represents a mixed bag of similar results in 2016:

    • Copper:% + 1

    • Soybeans: + 8%

    • Wheat: -15%

    • Corn: -8%

    • Sugar: + 50%

    • Nickel:% + 20

    And look almost closely at the commodity price index or the exchange-traded fund, and you’ll see what I’m talking about. For example, the Dow Jones Commodity Index rose by only 23% earlier this year (mainly due to rising energy prices). But it has dropped by more than 30% since 2014.

    It may seem strange to point to the low level of assets and say “put some money in,” but that’s why it’s worth looking at the commodity sector right now.

    It provides an opportunity to diversify a portion of your wealth from stocks and assets. And best of all, the goods are unrelated – that is, they don’t march to the same drummer, they go up and down in price – like stocks and real estate.

    But there is another way to think about it. For example, flipping the house and shopping for the day are in vogue again. But say “I like corn. It’s been at its lowest price in a decade” and all the sounds of silence (and maybe crickets) you’ll hear.

    However, the old aspect says that “the best cure for high prices is high prices.” The best cure for low prices in the raw material complex? Yes – low prices. And growers, miners and other producers are pushing back to wait for demand to start again.

    For example, Texas farmers are on their way to planting 20% ​​less wheat this fall (after a 13% reduction in planting in the same period last year).

    In the face of risk and reward, you can’t find an asset class that makes your neighbors and cocktail friends more valuable than merchandise. That’s a good thing. When an asset is unusual, even if it is hated, there is a chance to make a profit. The same cannot be said of current-level stocks and real estate.

    End of goods

    After college, my first car was a Toyota Corolla hatchback. The engine was well-designed machinery. I’d like to say the same thing for the body panels that quickly took on the look of rusty Swiss cheese; the holes widen year after year.

    With such passages, automakers began to use galvanized steel – body panels were immersed in “hot” anti-corrosion zinc baths.

    But car companies in the two most populous countries in the world didn’t get that note. At least until recently.

    The result? There was a huge rumor in the zinc market at a time when many of the world’s leading analysts least expected it …

    Bloomberg “Rusty Chinese cars are set to hold the 2016 Top Metal Rally,” the title says it all. The reaction to zinc prices is the same, rising by 60% since the beginning of this year.

    Last year, only a third of the 19 million cars and trucks made in China were built with galvanized steel.

    The same is true in India, where consumers bought a record 2 million vehicles last year; About 20% were made of galvanized steel, according to the Bombay Institute of Technology of India.

    When you think about vehicle sales forecasts for the two countries by 2020 (24 million in China, 5 million in India), it’s a lot of zinc.

    Don’t Look Now, But …

    My intention is not to run out and buy shares to exploit zinc. It is noteworthy, above all, that the demand for products is carried out in a way that no one expects, until price increases become too obvious.

    See what happens with nickel.

    The Philippines is a major supplier of crude nickel ore. The new administration in Duterte, which took office in the summer, is in the midst of a “review” of three dozen mines in the country, threatening to put them off the commission for alleged environmental violations.

    That’s not “love” exactly, but it does help to love the ongoing trajectory of nickel prices. Analysts at UBS Group AG expect nickel prices to rise another 25% next year (after a 20% gain this year).

    Of all the major industrial metals, copper is one of the most widely seen. The price of red metal barely moved all year. It has fallen by 50% since 2011.

    However, Japan’s largest producer, Pan Pacific Copper, is raising the price by 40% to around $ 7,000 a tonne by 2020. Citigroup recently made a similar announcement. Why?

    It’s about supply and demand.

    Demand for copper has remained relatively strong, although economic growth in China, the world’s largest consumer of copper, has slowed in recent years.

    Copper supply is another matter entirely.

    Late last year, Glencor – one of the largest copper miners in the world – decided to mix its largest mines in Africa, extracting 400,000 tonnes of copper from the global market. In Chile, the world’s largest copper supplier, the copper commission announced major investment cuts until 2025, eliminating eight mining projects worth nearly $ 23 billion.

    You can see where these copper price projections are coming from. At Citigroup, analysts see an increase in deficits between copper supply and demand. At the aforementioned Pan Pacific Copper company, the company’s president said: “The exit will not keep pace with demand because there is no new supply of mines – unless prices are $ 7,000. [per ton]. “

    The price of copper is less than $ 5,000 a ton right now, which offers a lot of potential for potential returns – and yet another reason to look closely at this class of “most hated” products.

    Why should you trade in Cryptocurrency?

    The modern concept of cryptocurrency is very popular among traders. The revolutionary concept introduced by Satoshi Nakamoto into the world became a success as a secondary product. We understand that decoding a cryptocurrency is something hidden and a means of currency exchange. It is a form of currency used in the blockchain created and saved. This is done through encryption techniques to control the generation and verification of the affected currency. Bit currency was the first cryptocurrency to be created.

    Cryptocurrency is just one part of the process of a virtual database running in the virtual world. The identity of the real person here cannot be determined. Moreover, there is no centralized authority that governs cryptocurrency trading. This currency is the equivalent of hard gold preserved by the people and its value seems to increase by leaps and bounds. The electronic system established by Satoshi is decentralized, where only miners have the right to make changes by confirming the initiated transactions. They are the only provider of human touch in the system.

    Counterfeiting cryptocurrency is not possible because the whole system is based on hard core math and cryptographic puzzles. Only those who are able to solve these puzzles can make changes to the database that are impossible. Once the transaction is confirmed it becomes part of the database or then the inverse of the blockchain.

    It is just digital money created with the help of cryptocurrency encryption technique. It is based on a peer-to-peer control system. Let’s understand how trading in this market can benefit you.

    It cannot be reversed or falsified: Many people may deny that the transactions they made are irreversible, but the best thing about cryptocurrencies is after confirming the transaction. A new block is added to the block chain and then the transaction cannot be falsified. You become the owner of that block.

    Online transactions: This not only makes it suitable for anyone sitting anywhere in the world, it also speeds up the speed of processing transactions. Compared to real-time access to a third party to buy a home or gold or take a loan, you only need a computer and a potential buyer or seller in the case of a cryptocurrency. This concept is simple, fast and full of ROI predictions.

    The fee is low for each transaction: The share of miners in transactions is low or not at all because it is guarded by the network.

    Accessibility: The concept is so practical that everyone with access to smartphones and laptops can enter the cryptocurrency market and trade anywhere. This accessibility gains even more. While the ROI is commendable, many countries like Kenya have introduced the M-Pesa system which allows for a bit coin device. Now 1 in three Kenyans can afford to have a bit of a coin purse.

    What is Monero?

    Monero is an open source cryptocurrency project that has better security and privacy than most virtual currencies. It is designed to give governments and financial agencies the power to control their finances without supervision. Supported cryptographic techniques ensure that a spy has zero knowledge of your transactions.

    Who created Monero?

    Monero is largely a community project that doesn’t have a single individual behind it. More than 240 specialists made up of developers and marketers came together and gave it life. However, about 30 developers are known. Anyone can help in this network by donating their skills or capital.

    Monero has no base in any country. Therefore, it may be difficult to close or restrict action in a particular country. However, you should not be so sure, as China and South Korea have already proven that any cryptocurrency can be dismantled from operating in certain jurisdictions. China officially banned the ICO from launching a couple of months ago.

    Monero Security Features

    It is definitely one of the safest places to trade Monero Blockchain. Ethereum and Bitcoin Blockchains are transparent so that anyone can validate the authenticity of a transaction. This means that anyone with excellent computer skills and resources can easily decode the true identity of their users. This is very rebellious, it goes against the main principle behind decentralized projects, confusing the details of the user.

    Monero’s cryptographic techniques mystify user data, making the smell of the data impossible to achieve. The two main security protocols used are tone signatures and hidden addresses. The former confuses all network addresses and therefore makes it difficult for an outside observer to link a single address to a particular account.

    The latter is about the condition that the address is used only for a single transaction. Cannot have a single address for two or more transfers. Used addresses cannot be detected, and new ones are created in the next agreement. In summary, not all details about the sender, receiver, and amount transferred are examined. However, this network is not completely “closed” because one can choose who can view their transactions.

    Monero supporters

    • Private, secure and cannot be found

    • Scalable blockchain without limits

    • Strong team and ability

    • Highly accepted

    • Miners have a plan to promote block chain maintenance even when supplies run out

    • Selectively transparent: You choose whether you want to view your transactions

    The downsides of Monero

    • It has a minute centralization level

    • Not yet widely accepted

    The future of Monero

    At the moment, decentralized technologies are receiving a lot of hype, which is widely recognized. As the technology is widely supported and the government is trying to determine the user, investors will demand more private cryptography, which would only put Monero in first place. This coin is worth the shot.

    This hated commodity could have big profits in 2018

    Forecasts show an extra 20 million pounds of production by 2018 without buyers. As you can imagine, the price of uranium went down.

    It reached its lowest price in October 2016 at $ 18.75 per pound. This touched the 13-year low price.

    The downward trend began in 2011. The price of uranium was $ 72.50 per pound in January 2011. It has been steadily declining since then, down 74%.

    The result is astonishing for many as a source of energy that many considered a “green” rescue from hydrocarbons a few years ago. Nuclear power generates safe carbon-free energy.

    The problem is, it can wreak havoc. That’s what we found when the Fukushima disaster hit Japan.

    Disappearance of Nuclear Energy

    The earthquake and tsunami damaged the Fukushima Daiichi nuclear power plant in March 2011. The quake damaged a reactor. The tsunami then flooded the area, creating intense backups.

    Without safety forces, cooling water could not enter the plant. This led to an elusive reaction, the dismantling, the greatest fear of all nuclear power plant operators.

    He was harmed by a series of human errors. The operator, Tokyo Electric Power Company, was not fully prepared for the situation.

    The result killed the nuclear power industry.

    Fukushima turned the world against nuclear energy. Germany shut down all its reactors in response. Uranium demand fell and the price of uranium fell.

    This eventually led to Cameco Corp. the main uranium producer led to a cut in production in early November 2017. The company’s profits fell and fell. Efforts were made to maintain profitability. He finally announced that he would suspend operations at the McArthur River mine for 10 months.

    Cameco’s decision reduced the surplus by just £ 5 million … and then it became unthinkable: the world’s largest uranium producer continued. Kazakhstan state-owned uranium miner Kazatomprom reduced production by 20% over the next three years.

    The result could be a huge uranium bull market.

    The price of uranium and the enormous amount of uranium for producers

    Shares of Uranium Holding Corp., which has physical uranium for investment, rose in response. Shares rose 30% in a month and a half.

    Shares of uranium companies also rose. However, this is just the beginning. Analysts covering the uranium sector believe these cuts could add $ 30 a pound to the price of uranium. That’s more than double the current price.

    It will be wonderful for uranium producers. Cameco and Ur-Energy Inc. companies like this will have higher revenues and profits.

    This seems like great news for the uranium sector. It’s a story we’ll continue to see in 2018.

    The importance of cryptocurrency as a means of financial operations

    Today, the global economy is moving towards the entire digital ecosystem, so everything from money transfer to investment goes undocumented. And cryptocurrency is the newest and fastest add-on in the field of digital payment. Cryptocurrency is an exchange medium like ordinary currencies like USD, but it is mainly designed for exchanging digital information. And here are some of the reasons why cryptocurrency is so popular in the recent past.

    1. Asset transfers: Financial analysts often define cryptocurrency as a method that can be used to execute contracts of both parties at a certain level and to execute on goods such as real estate and automobiles. It is also used to facilitate some specialized transfer methods in the cryptocurrency ecosystem.
    2. Transactions: In the usual business methods, legal representatives, agents and brokers can also add high costs and sufficient complications to a direct transaction. In addition, brokerage fees, commissions, formalities and other special conditions may also apply. On the other hand, cryptocurrency transactions are individual issues, especially those that occur in some network parity structures. This gets more clarity when setting up audit tracks, greater responsibility, and less confusion when making payments.
    3. Transaction fees: Transaction commissions often take enough bite out of a person’s assets, especially if the person makes economic transactions on a monthly basis. Data miners mainly obtain compensation from the network involved in the same way that they make small numbers that generate different types of cryptocurrencies, and therefore transaction rates are never applied. However, you may be required to pay a certain amount of external fees to maintain a cryptocurrency wallet for hiring third-party management services.
    4. More confidential transaction method: Depending on the credit / debit system, the entire transaction history can become a reference document for the credit agency or bank involved each time you make a transaction. At the simplest level, you may want to check your account balances to make sure the right funds are available. But in the case of cryptocurrency, each transaction between the two parties is considered a single exchange in which the terms can be agreed and negotiated. Moreover, here the exchange of information is done by “push”, and the recipient can send exactly what he likes to the recipient. This thing fully protects the privacy of your financial history, as well as the threat of identity or account theft.
    5. Easier trading system worldwide: Although cryptocurrencies are mostly recognized as legal tender at the national level, they are not subject to interest rates, exchange rates, transaction costs, or any other rate set by a particular country. And using a method similar to blockchain technology, transactions and cross-border transactions can be done without any difficulty.
    6. Greater access to credit: The Internet and digital data transfer are media that facilitate cryptocurrency exchanges. Therefore, these services are available to people with knowledge of cryptocurrency networks, have a feasible data connection and immediate actions for the respective portals and websites. The cryptocurrency ecosystem is able to make transaction processing and asset transfer available to all available people, once the necessary infrastructure is in place.
    7. Strong security: Once the transfer of the cryptocurrency is authorized, it cannot be reversed in the same way as the “charge” transactions of different credit card companies. It can be a hedge against fraud that requires you to make particular agreements about refunds or returns made in the transaction between the return policy of the seller and the buyer.
    8. Suitability: There are 1200 types of altcoins or cryptocurrencies in the world today. Some of them are transient, but the right proportion is used for specific cases, for cases that represent the flexibility of this phenomenon.

    Virtual Currency Games

    Playing video games is closer to the reality of small boys (and many adult men) making a living. The newly released HunterCoin and the games being developed by VoidSpace, games that reward digital currency rather than virtual princesses or gold stars, look to the future, where the rankings can include dollars, and sterling, euros and yen.

    The story of a millionaire (virtual) real estate agent …

    Digital currencies are slowly gaining maturity, both in terms of functionality and in terms of the financial infrastructure that allows them to be used as a credible alternative to non-virtual trusted currency. Although Bitcoin, the first and most popular of the cryptocurrencies, was created in 2009, it has been a form of virtual currency used in video games for more than 15 years. The 1997 Ultima Online was the first notable attempt to incorporate a large-scale virtual economy into the game. Players can collect gold coins by searching, fighting monsters and finding treasure and spending on armor, weapons or real estate. It was the initial embodiment of a virtual currency that only existed in the game, even though it reflected the real world economy, as the Ultima currency suffered from inflation as a result of game mechanics, which ensured that there was no definitive supply. kill monsters and thus collect gold coins.

    Released in 1999, EverQuest took the virtual currency game one step further by allowing players to market virtual goods to each other in the game and the game designer also banned the sale of virtual objects to each other on eBay. Neal Stephenson’s 2011 novel Reamde explored an entertaining phenomenon around the world, with Chinese players or “golden farmers” working on EverQuest and other such games with the goal of gaining experience points to play full time, making the characters stronger and more sought after. These characters would be sold on eBay to western players who wanted or couldn’t afford to upgrade their characters. Edward Castronova, a professor of telecommunications at Indiana University and an expert on virtual currencies, based on EverQuest’s calculated currency exchange rate, in 2002 EverQuest was the 77th richest country in the world, somewhere between Russia and Bulgaria and had a higher GDP per capita than China and India.

    Launched in 2003 and reaching one million regular users by 2014, Second Life is perhaps the most complete example of the virtual economy to date, as the virtual currency can be used to buy or sell Linden’s dollar at stake. exchange for real world currencies through market-based exchanges. Between 2002-13, $ 10,000 billion in virtual gambling transactions were recorded, it became a Second Life marketplace where players and companies were able to design, promote and sell content created. Real estate was a particularly lucrative business in 2006, when Ailin Graef became a second-millionaire in her first life, initially turning $ 9.95 into an investment of more than $ 1 million over 2.5 years, buying, selling and trading virtual real estate to other players. Examples like Ailin are an exception to the rule, however, with only 233 users earning more than $ 5,000 in Second Life activities in 2009.

    How to pay for asteroid mining in dollars …

    So far, the ability to create non-virtual money in video games has been secondary design, the player must go through unauthorized channels to exchange their virtual prey or have a level of creative or business skills in the real world. which could be exchanged for cash. It may change with the emergence of video games around the “plumbing” of recognized digital currency platforms. The approach taken by HunterCoin is to “gamify” what is usually a technical and automatic process for creating digital currency. Unlike real-world currencies created by printing by a central bank, digital currencies are created by being “exploited” by users. The source code under a particular digital currency that allows it to operate is called a blockchain, a decentralized online public book that records all transactions and currency exchanges between individuals. Since digital currency is only intangible data, it is more prone to fraud than physical currency, as it is possible to double a unit of currency, thereby causing inflation or changing the value of the transaction for personal gain. To prevent this from happening, blockchains are “controlled” by volunteers or “miners,” and for this purpose they verify the validity of each transaction with the help of specialized hardware and software, ensuring that data is not manipulated. It is an automatic software process for mining, although it requires a lot of time as it requires a lot of processing power from the computer. To reward a miner for verifying a transaction, the blockchain releases a new unit of digital currency and rewards it as an incentive to continue maintaining the network. This creates digital currency. It can take from a few days to a few years for a person to successfully extract coins that groups of users combine their resources in the mining “pool” to use the combined processing power of computers to extract coins faster.

    The HunterCoin game is part of this blockchain for a digital currency called HunterCoin. Gaming replaces the automatic process of exploiting digital currency and makes it manual for the first time and without the need for expensive hardware. Using strategy, time and teamwork, players go out on the map to look for coins and when they find some and return to their base safely (other teams stop there and try to steal coins) they can collect their coins by depositing them into their digital wallet, usually an application designed to make and receive digital payments. 10% of the value of any coins placed by players goes to miners who maintain HunterCoin’s blockchain plus a small percentage of the coins lost when a player dies and their coins fall. Although the game’s graphics are basic, HunterCoin needs time to accumulate significant rewards as it is the first video game with a built-in prize money to be seen as the first video game.

    Although still in development, VoidSpace is a more elaborate approach to gaming in the economy in which it operates. VoidSpace is set in space as players explore an ever-growing universe that exploits natural resources like asteroids and aims to build their galactic empire in exchange for goods with other players. Players will be rewarded with DogeCoin mining, a more established form of digital currency that is now used to make microcompositions on various social networking sites. DogeCoin will also be a means of game trading and in-game shopping between players. Like HunterCoin, DogeCoin is a legal and fully functioning digital currency and can be exchanged for both trusted digital and real currencies in exchanges like Poloniex like HunterCoin.

    The future of video games?

    Although there are early days in terms of quality, the HunterCoin and VoidSpace versions are an interesting indication of what the next evolution of games might be. MMORPGs are now being seen as a way to model the outbreak of the epidemic, as players ’reactions to an unwanted plague recorded aspects of the human model of harsh behavior in real-world outbreaks. It could be assumed that in the end virtual economies in the game will be based on the observation of how economic models are used to test economic theories and develop responses to massive failures with the real value of digital currency. It is a good testament to the functionality and potential applications of digital currencies, as they promise to go beyond mere exchange vehicles and into exciting areas of personal digital ownership. Meanwhile, players have the means to convert hours in front of the screen into digital currency and then dollars, sterling, euros or yen.

    But before I leave the day’s work …

    … it is worth mentioning the current exchange rates. It is estimated that a player can purchase an initial 1,005 HunterCoin (HUC) registration fee for accessing HunterCoin in a 1-day game. Now that the HUC cannot be directly exchanged with the USD, digital currencies like Bitcoin need to become more established. At the time of writing the HUC Bitcoin (BC) exchange rate is 0.00001900, compared to the BC USD $ 384.24. 1 HUC traded in BC and then USD before considering any transaction fees … $ 0.01 USD. This doesn’t mean that a player who is more skilled can’t increase the team of virtual CoinHunters and maybe use other “bot” programs that would automatically play in the disguise of another player and win coins for them. but I think it’s safe to say that efforts like this at the moment can also lead to enough change in everyday McDonalds in a real way. Unless players are willing to submit to intrusive in-game ads, share personal data, or join a game like CoinHunter built into the Bitcoin blockchain, it’s impossible for the rewards to be more than micro-payments for the video game. Maybe it’s a good thing, because if you probably pay for something you stop having more games?

    Digital currency

    Cryptocurrency

    Cryptocurrency is digital currency. It is also called virtual currency. It is a digital asset that manages its transactions through cryptography, uses cryptography in a printable way, and confirms transactions. In many countries, cryptocurrencies are used as an alternative currency. Bitcoin was added in 2009 as the first decentralized cryptocurrency. After that, many different cryptocurrencies entered the market. These are commonly known as Altcoins. These currencies use decentralized management as a counterweight to centralized digital money and central banking systems.

    Distributed management uses Bitcoin’s database of blockchain transactions as a paid book. An encryption device creates a decentralized cryptocurrency at a predetermined price, which is communicated to the public. In the centralized bank and the Federal Reserve system, boards of directors or governments manage the issuance of money through treasury units, and the exchange is done with digital bank books. However, in a decentralized cryptocurrency, companies or governments cannot create new entities or provide support to various companies, banks, or corporations that are active.

    The Satoshi Nakamoto Group created the underlying technical tool for decentralized cryptocurrencies. Nearly a thousand cryptocurrencies were created by September 2017, most of them comparable to Bitcoin. In cryptocurrency systems, security, integrity, and general ledgers are maintained, with the help of a team that includes suspicious aspects known as miners. In this way, the general public is validated with the use of their computer systems. Miners to keep the security of a cryptocurrency book for economic reasons.

    Most cryptocurrencies constantly minimize the production of currency, limit the entire currency in circulation, and mimic valuable metals. Unlike ordinary currencies, which are maintained through monetary institutions, such as storing money in stock, cryptocurrencies are difficult to enforce the law. This problem is due to the use of cryptographic technologies. Law enforcement officials had this problem on the Silk Road because Ulbricht’s Bitcoin deposit was “encrypted”. Crypto-currencies like Bitcoin are pseudonyms, although additives like Zerocoin have been proposed to provide real anonymity.

    Some unknown people or humans used the title Satoshi Nakamoto and in 2009 added Bitcoin, the first digital currency. SHA-256, a cryptographic hash function, was used as a working scheme there. Namecoin was in April 2011. Litecoin was usually released, in October 2011 Scrypt was a hash function. Cryptocurrency, Peercoin used the hybrid as proof of work. IOTA didn’t use a blockchain, it uses a knot. Built on a custom blockchain, the Divi project allows you to make an effort to buy and sell between wallet currencies and use information that is not publicly identifiable for transactions. Subsequently, many special cryptocurrencies have emerged, but few have been successful due to a lack of technical innovations.

    Jordan Kelley, the founder of Robocoin, used to install the first bitcoin ATM on February 20, 2014 in Texas, USA. This ATM was the same as the ATM at the bank, however, it examined identifications such as the user’s passport or driver’s license. scanner support. In 2017 almost 1574 bitcoin ATMs were assembled in different countries In 2017 3 ordinary ATMs were connected in 2017.

    The legal measure of cryptocurrencies varies greatly from country to country and still persists in many of them. While some countries have clearly allowed use and trade, others have banned it. In addition, several government institutes have restricted bitcoins differently. In 2014, the Central Bank of China banned the processing of bitcoins by Chinese financial institutions. In Russia, however, cryptocurrencies are legal, even if it is wrong to use another currency to buy goods except the Russian ruble. The U.S. Internal Revenue Service allowed bitcoin to be subject to capital gains tax, and on March 25, 2014, this resolution clarified the legality of bitcoin.

    Definition of Bitcoin

    Known as the first decentralized digital currency in Bitcoin, they are basically coins that can be sent over the Internet. 2009 was the year bitcoin was born. The name of the creator is unknown, however the nickname Satoshi Nakamoto was given to that person.

    Advantages of Bitcoin.

    Bitcoin transactions are made directly from one person to another on the Internet. There is no need for a bank or clearing center to be a middle man. This makes transaction fees much lower, which can be used in all countries around the world. Bitcoin accounts cannot be frozen, pre-opening conditions do not exist, not even for limits. More and more traders are starting to support it. With them you can buy whatever you want.

    How Bitcoin works.

    It is possible to exchange dollars, euros or other currencies for bitcoin. You can buy and sell it like any other country’s currency. In order to save your bitcoins, you need to store them in something called a wallet. These wallets are available on your computer, mobile device, or third-party websites. Sending bitcoins is very easy. It’s as easy as sending an email. With Bitcoins you can buy almost anything.

    Why Bitcoins?

    Bitcoin can be used anonymously to buy any kind of commodity. International payments are very easy and very cheap. The reason for this is that bitcoins are not actually linked to any country. They are not subject to any regulations. They are loved by small businesses because there is no credit card fee. There are people who buy bitcoins for the purpose of investment, who hope to increase their value.

    Ways to get bitcoins.

    1) Buy on an Exchange: People are allowed to buy or sell bitcoins from sites called bitcoin exchanges. They do this using their country’s currencies or any other currency they have or like.

    2) Transfers: People can send bitcoins to each other via their mobile phones, computers or online platforms. It’s like sending money digitally.

    3) Mining: The network is secured by some people called miners. They are regularly rewarded for newly verified transactions. These transactions are fully verified and then known as the public transparent library. These people are competing to extract these bitcoins, using difficult computer hardware to solve difficult math problems. Miners invest a lot of money in hardware. Today, there is something called cloud mining. Using cloud mining, miners invest money in third-party websites, which provide all the necessary infrastructure, reducing hardware and energy consumption costs.

    Save and save bitcoins.

    These bitcoins are stored in so-called digital wallets. These wallets are in the cloud or on people’s computers. The wallet is something like a virtual bank account. These wallets allow people to send or receive bitcoins, pay for things or store bitcoins. Contrary to bank accounts, these bitcoin portfolios are never insured by the FDIC.

    Types of wallets.

    1) Wallet in the cloud: The advantage of having a wallet in the cloud is that people do not need to install any software on their computers and have to wait for long synchronization processes. The downside is that the cloud can be hacked and people can lose bitcoin. However, these sites are very safe.

    2) Computer wallet: The advantage of having a computer wallet is that people are protected from bitcoin from the rest of the Internet. The disadvantage is that people can delete them by formatting their computer or by viruses.

    Bitcoin anonymity.

    When making a Bitcoin transaction, there is no need to register the person’s real name. Every Bitcoin transaction is known as a public record. This record contains only the wallet IDs and not the names of the people. so basically every transaction is private. People can buy and sell things without tracking.

    Bitcoin innovation.

    Bitcoin introduced a new way of innovation. Bitcoin software is open source; which means anyone can review it. One fact today is that bitcoin is transforming the world’s finances in a way that changes everything about web publishing. The concept is great. When everyone has access to the global bitcoin market, new ideas emerge. Transaction rate reductions are a fact of bitcoin. Accepting bitcoins costs anything, they are very easy to set up. Load refunds do not exist. The Bitcoin community will create all kinds of additional businesses.

    Simple introduction to Bitcoin

    Peer to peer technology has evolved to adapt payment systems, as Bitcoin shows. It is a digital currency that can be used at a reasonable cost for business and business transactions. Sometimes called the Internet currency, Bitcoin is not dependent on the central authority. Founded five years ago, it has grown exponentially with many speculators, who have confirmed that this rise will continue in the near future.

    Learn more about bitcoins

    Bitcoin is a descriptor of the technology at stake. These coins represent the same currency and are transactional. They are sent or received through a wallet software that runs on a PC, web application, or smartphone. They can be obtained through exchanges of products and services or through mining.

    What is Minning?

    Mining is the process of creating new bitcoins. For each transaction that occurs, the records are stored sequentially in a public database called the block chain. Those who maintain this chain of blocks are the miners, and their reward is newly created bitcoins.

    Using Bitcoins

    These coins can be easily obtained for different currencies. The painless way is to buy in cash. There are companies that extend exchange services to customers that determine rates based on factors such as volume.

    There are people who have invested in bitcoins in the hope that their value will increase. While this credibility is undeniable, it carries some risk with it. There are weaknesses in these currencies, and this factor makes large-scale investments difficult. This, along with some inherent limitations, such as the irreversibility of transactions, the volatility of the Bitcoin exchange rate, and the limited discretion of users, makes investing a reserve only for sophisticated investors. On the one hand, Bitcoin can prevent inflation, making it ideal for areas where national currencies are problematic.

    The future of these coins

    Bitcoin has received a mixed reaction in the market. Some economists have confirmed that this technology has long offered the digital currency it has wanted. Others find it less credible, arguing that lack of reliability and volatility are not advisable. In any case, many merchants have warmed up and their growing popularity is leading to success as the main means of payment.

    If you are new to Bitcoin and spend most of your time online, you should give it a try. It offers unparalleled flexibility and convenience that is lacking in other available payment gateways.