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Become A Millionaire: Two Main Rules of Bitcoin Investing

Who wants to be a millionaire by the end of this year? This question can sure bring a chorus answer of “Me” anywhere. And of course, why not, everybody wants to be a millionaire. The trading industry has been always considered to be a rich people’s domain. But when it comes down to the bitcoin investment, you can consider it as a new way to earn a fortune in a short span of time. If you turn back a few pages of the bitcoin history, you will see that even the fraction of the bitcoin has made people millionaire. Provided,

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Who wants to be a millionaire by the end of this year? This question can sure bring a chorus answer of “Me” anywhere. And of course, why not, everybody wants to be a millionaire.

The trading industry has been always considered to be a rich people’s domain. But when it comes down to the bitcoin investment, you can consider it as a new way to earn a fortune in a short span of time.

If you turn back a few pages of the bitcoin history, you will see that even the fraction of the bitcoin has made people millionaire. Provided, if you have the right methods and ideas to execute bitcoin trading.

For instance, let’s take Kristoffer Koch for example. He was one of the early traders who have invested in the bitcoin in 2009. The capital investment that Koch made was just over $26.  By the end of 2016, he already had more than 5000 bitcoins at his disposal. The total value of the bitcoin was estimated at more than $4,800,000. If you are looking to trade in the bitcoins then you can visit the login page.

So, what were the strategies that Koch made that help him to become a millionaire within 7 years of his investment?

Two Golden Rules of Bitcoin Investment

Every investment follows certain rules and regulations so that you can most out of the deals. Here are the two rules that you must follow while investing the bitcoin.

1. Hold on to you Bitcoins

The very first rule of every investment is that you need to keep your assets to yourself for a longer period of time. This rule applies for any kind of investment you are making, the longer you can keep your asset to yourself, the more chances you will have to gain high marginal profit.

If we think the assets to be the bitcoins, then it is very important to have long term investment in the bitcoin. The history has shown us that even if being one of the most volatile assets, the value of the bit coming keeps on increasing on a yearly basis. So, if you are doing a long-term investment in the bitcoin, you are bound to gain profit.

Even Kristoffer Koch has left the bitcoins untouched for more than 6 years. This long-term investment has made Koch what is he now. You can take this real-life example to understand why long-term bitcoin investment is the key to success.

2. Keep them very safe

Bitcoin are digital-based currency. So, their security needs to be prioritized. While handling transactions, and investment in the form of bitcoins, you need to make sure that they are not exposed to any kind of external threat.

You also need to make sure that your wealth is not lying around in the exchange wallet for a longer period of time. It is advisable to keep all your bitcoin coins in the private wallet which is controlled by the keys you have.

In addition, you need to have a trustworthy person who has access to your bitcoin. So that when you are not there, your heir can be benefited from your bitcoins.

Conclusion

With all that being said, the final question arises, how much bitcoin do you need to become a millionaire?

Well, it is a very difficult question to answer. As we all know that bitcoin investment is a volatile industry. And nobody knows what the future has in store for the bitcoins.

And the second problem with the question is how long it will take to become a millionaire. Is it 5 years, 10 years or even more?

With all that uncertainty and everchanging elements., it is hard to predict the time you can become a millionaire.

This is a sponsored post. As it’s related to crypto trading, you should also read our risk warning. Read more in our editorial policy.

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Source: https://bitcoinsinireland.com/become-a-millionaire-two-main-rules-of-bitcoin-investing/

Blockchain

BitcoinOrg Hacked: Giveaway Scam Promising Users to Double Their BTC

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Fake cryptocurrency giveaway scams continue to pop up frequently, and the latest victim is the oldest bitcoin educational resource – BitcoinOrg. As of now, though, the website has been taken down, and the pseudonymous developer operating it has blamed it on Cloudflare.

  • Earlier on September 23rd, users on Twitter outlined that the BitcoinOrg website has an untypical and concerning message on its homepage. It urged visitors to send a certain amount of the primary cryptocurrency and to double their investment.
  • Needless to say, this was most surely another scam, which the community has already grown accustomed to. History shows countless such fraudulent activities that involved some of the most well-known names in and outside the space.
  • Perhaps the most blatant recent one was against Twitter, where the accounts of names like Joe Biden, Barack Obama, Jeff Bezos, and more were hacked to promote similar scams that promised people to double their bitcoins.
  • Despite sounding too good to be true, such frauds still manage to dupe funds from victims, which makes them especially dangerous.
  • As of now, BitcoinOrg has been taken down as it shows a 404 Not Found error. The developer behind the website, going by the Twitter handle Cobra, hinted that this security issue might be an issue with the new website security company as BitcoinOrg “hasn’t been hacked, ever” before it moved to Cloudflare.
  • Interestingly, the CEO of Cloudflare, Matthew Prince, told CNBC earlier this month that cryptocurrency-related websites have become a popular target for cybercriminals.
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Source: https://cryptopotato.com/bitcoinorg-hacked-giveaway-scam-promising-users-to-double-their-btc/

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Blockchain

United States Infrastructure Bill Brings Cardano Billionaire to Washington

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Cardano Founder, Charles Hoskinson to Speak at GBA Blockchain & Infrastructure.

Charles Hoskinson, Founder of Cardano and Co-Founder of Ethereum, 

Educates Government Legislators, Regulators, & Administrators

 

The recent debate over the Infrastructure Bill has made two things clear: 

The government will be regulating blockchain activities, but they don’t understand it well enough to do an effective job. For that reason, the Government Blockchain Association (GBA) and our partners are organizing Blockchain & Infrastructure, a two-day educational seminar for government leaders and their staff. The educational content will be delivered to public sector organizations exploring blockchain and cryptocurrency.

 

Mr. Charles Hoskinson of Cardano will be speaking live from Washington, DC, and will also be broadcast to virtual attendees in the Americas, Europe, Asia, Africa, and Australia. This 2-day hybrid experience will be a crash course in blockchain and cryptocurrency training, followed by an evening reception for networking and meeting the speakers, including Charles Hoskinson, Scott Stornetta, and other blockchain pioneers. Live and virtual attendees will also be able to engage with Mr. Hoskinson and other participants through a conference app provided by Qbix.

 

In 2013, Mr. Hoskinson was one of the original founders of Ethereum. A few years later, he spearheaded IOHK (Input Output Hong Kong), whose key project is Cardano. Cardano’s market cap is currently over $69 Billion. IOHK sponsors blockchain technology research labs at the University of Edinburgh and the Tokyo Institute of Technology and is collaborating on a blockchain research project with the University of Wyoming. Mr. Hoskinson will be speaking at Blockchain & Infrastructure and will be networking with conference attendees during the evening reception on September 28 in Washington DC.

 

Source: PlatoData Intelligence

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Blockchain

Bhutan joins hands with Ripple for CBDC pilot

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Ripple is in the news today after it announced a partnership with Bhutan’s central bank – the Royal Monetary Authority (RMA) – for a central bank digital currency (CBDC) pilot.

This development was welcomed by the likes of Yangchen Tshogyel, Deputy Governor of the RMA, who said,

“Our collaboration with Ripple is testament to the potential of CBDCs to provide an alternative and sustainable digital payment instrument in Bhutan.”

According to the San Francisco-based blockchain firm, this will be a natural fit for Bhutan to enhance cross-border digital payments and expand its financial inclusion efforts.

The trial is set to use Ripple’s CBDC Private Ledger. Ripple further explained,

“Ripple’s CBDC solution leverages a private version of the public, open-source XRP Ledger, ensuring greater control over issuance, management, privacy, and validation – more-so than a public blockchain.”

Currently, Bhutan is targeting a sustainable payment solution and is working towards becoming the only carbon-negative country in the world.

Ripple has often claimed that its CBDC solution is carbon-neutral and its consensus protocol is 120,000x more energy-efficient than proof-of-work blockchains. This might be what caught Bhutan’s eye.

The initiative is also part of the Himalayan nation’s goal to increase financial inclusion by 85% by 2023. In fact, data suggests that of the 5.15 lakh adult Bhutanese above the age of 18, around 67% own a bank account in a formal financial institution.

Hence, the collaboration is under the country’s larger initiative of Financial Inclusion National Action Plan (FINAP) 2019-2023

According to reports, the pilot will run under the tentative name of “Digital Nürburgring.” Additionally, the distributed ledger technology will be in addition to Bhutan’s existing payment infrastructure and will improve the country’s retail and cross-border wholesale remittances.

This will reportedly be in alignment with the government’s Electronic Public Expenditure Management System (e-PEMS) to regulate transactions between the government and banking systems. As an extension, the country is looking to harness advantages of tremendous speed, cost efficiency, and innovation in the CBDC pilot.

Ripple CBDC Private Ledger

The US-based company had announced a private XRP ledger as an improved version of its public blockchain in March this year. It claimed to have added interoperability to the existing payments framework in accordance with the Bank of International Settlement’s CBDC requirement.

The solution is expected to facilitate full settlement interoperability for the RMA while maintaining monetary and technological independence.

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Source: https://ambcrypto.com/bhutan-joins-hands-with-ripple-for-cbdc-pilot

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