Connect with us

Blockchain

When should you finally buy Bitcoin

With all the recent drama in the cryptosphere, no one is certain when it comes to the “bottom” price. We heard analysts and experts share opinions that make us even more confused and the market sentiment right now is… how shall we put it… very sentimental. No one knows when is the best time to

The post When should you finally buy Bitcoin appeared first on Web's Most Useful Blockchain Articles.

Republished by Plato

Published

on

With all the recent drama in the cryptosphere, no one is certain when it comes to the “bottom” price. We heard analysts and experts share opinions that make us even more confused and the market sentiment right now is… how shall we put it… very sentimental. No one knows when is the best time to buy Bitcoin but many still believe in its long term growth.

Since everyone, once again, claims Bitcoin will die, here are some useful methods to go by in case you want to buy Bitcoin for its technological potential.

Buy Bitcoin when others are fearful

If that is not now then I don’t know when it is. During the start of this major bear market, everyone had his hopes up high, claiming one event or another were the reason their lamborghini orders were put on hold. Chinese Cristmas, Consensus and a bunch of other wild guesses, all acted as a catalyst for the fear of the current market.

Remember those people who claimed they would buy Bitcoin at $12.000 when it was around the $20.000 mark? The same people who claimed they wanted to buy at $6000 when Bitcoin was at $12000 price  and keep on dropping? Now at 3000 no one buys and they all scream Bitcoin is in a death spiral. No one wants to buy Bitcoin right now because they are afraid.

Buy Bitcoin when the value has gone up, but the price has gone down

Bitcoin is, right now, more popular and necessary than ever. People have started to realise the unfair profiting of exclusive third parties when it comes to the control of our finances. These institutions do not necessarily care about money because they can simply print it. Therefore, they are putting up huge resources and energy to drop the value of Bitcoin, keeping their power model in place. Until now, their efforts have proven to be fruitful.

However, this does not change the fact that Bitcoin is and always will be a decentralised worldwide currency that is free to transport across continents in any amount. The people who “are in it for the technology” understand this. This is why they have decided to hold Bitcoin for a long timeframe, or until a middle ground is found.

Buy Bitcoin when you see strong signals from multiple high quality sources

High quality sources right now are uncertain. This comes after everyone in the field had a price prediction whether that is for the final bottom or the turn of the markets. So far, no expert has been right which proves that their expertise is not always to be trusted.

Since the time when Bitcoin was created, media has been bashing it and telling that it will disapear as quickly as it appeared. But it hasn’t.

A strong signal in the cryptoworld needs to go far beyond a positive event or a development in the space. These have proven to not affect the price in a major way during 2018. Instead, strong signals could be translated in a new phase of mass interest for the coin, which will happen when the media picks it back up. Remember that, whether Bitcoin is manipulated or not, the only way the “big guys” can keep on profiting from the currency is if there is enough interest. And for interest to grow, price will have to grow as well.

Of course, it goes without saying, that this is not financial advice and it should not be treated as such. Our opinions are only an expression of our thoughts.

Source: https://railsonwave.it/finally-buy-bitcoin/

Blockchain

Cardano Multi-Asset ‘Mary’ Update Launches to Mainnet

Republished by Plato

Published

on

Late on Monday, March 1, Cardano announced the successful upgrade of the network stating that it is a key milestone in its ongoing rollout.

It added that the update introduces core Goguen features of native token functionality and multi-asset support. Goguen is a major upgrade stage on the Cardano roadmap which introduces smart contracts and the ability to build dApps.

Multi-Asset Mary For Native Tokens

According to an IOHK blog post, native tokens will bring multi-asset support to Cardano, allowing users to create uniquely defined custom tokens and carry out transactions with them directly on the blockchain.

The ‘Mary’ upgrade enables the ledger’s accounting infrastructure to process not only ADA transactions but those that simultaneously carry several asset types. It added that native support grants distinct advantages for developers as there is no need to create smart contracts to handle custom token creation or transactions.

Developers and now create tokens on Cardano for everything from NFTs to tokenized stocks or commodities, and according to Token Tool, there are already over 1,400 of them. It appears that they are just being created for experimental purposes at the moment as most of them do not have a purpose.

The blog post explained that, unlike Ethereum’s ERC-20 standard, tracking and accounting of custom tokens on Cardano is supported by the ledger natively:

“Because native tokens do not require smart contracts to transfer their value, users will be able to send, receive, and burn their tokens without paying the transaction fees required for a smart contract or adding event-handling logic to track transactions.”

ADA Price Update

ADA has surged in price in the run-up to the upgrade, so much so that it has usurped Binance Coin and taken the third spot on the market cap charts according to CoinGecko.

At the time of press, ADA was still correcting with a 2.4% decline on the day to $1.22. Its all-time high came on Feb. 27 when the token topped $1.45 briefly. Over the past 30 days, Cardano has made a whopping 240% and since the same time last year when it was priced at a lowly $0.05, it has surged over 2,500%.

There are 32 billion tokens circulating out of a maximum supply of 45 billion giving the asset a market cap of $38.8 billion at current prices.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/cardano-multi-asset-mary-update-launches-to-mainnet/

Continue Reading

Blockchain

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

Republished by Plato

Published

on

Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports which claimed that Miami was considering putting 1% of its treasury reserves into Bitcoin.

In fact, a few weeks ago, the city official had also claimed that Miami was looking at crypto-regulations in the state of Wyoming and Wisconsin, among others, to take a step towards enabling crypto-payments.

Mayor Suarez is in the news again today after he responded to Treasury Secretary Janet Yellen’s comments on Bitcoin, the world’s largest cryptocurrency. Speaking to the media at the recent NYT DealBook Conference, Yellen claimed that Bitcoin is an “extremely inefficient way of conducting transactions.” Further, the Treasury Secretary also raised serious questions about Bitcoin’s use for illicit finance and its energy consumption.

Yellen’s remarks, however, didn’t come as a surprise to Miami’s Mayor.

“It doesn’t surprise me at all that a Treasury secretary would find a decentralized potential currency to be hostile to a currency that they control.”

According to Suarez,

“For people who invest in Bitcoin, the allure is precisely that: It’s not backed by a central government. So it’s not manipulatable by the central government.”

During the said interview, Suarez also shot down questions about the risk associated with the world’s largest cryptocurrency. When asked about investing in an asset class that has long been known for its volatility, the Mayor remarked that Bitcoin is an asset class that is still being studied, and not something Miami is jumping right into. “Bitcoin is worth studying and worth looking at,” he concluded.

While Mayor Suarez’s bullish comments on Bitcoin aren’t a surprise, it is worth highlighting that his latest comments were a direct response to statements made by the United States’ Treasury Secretary, a development that highlights the gulf that is appearing between local officials and the country’s biggest financial decision-makers.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin

Continue Reading

Blockchain

Nigeria’s Vice President makes a surprising case for Cryptocurrencies

Republished by Plato

Published

on

Nigerians bounce back with a defiant response to the government’s Bitcoin ban

Advertisement &  & 

A contradictory statement has recently been made by Nigeria’s Vice president Prof. Yemi Osinbajo, concerning the recently imposed Cryptocurrency ban by the country’s Central bank. The Vice President explained at the CBN bankers committee economic summit, that digital currencies are an inevitable part of the country’s economy.

Prof. Osibanjo makes a fair case for digital currencies

He reckoned that as opposed to banning Cryptocurrencies entirely, employing care and prudence could favor the technological developments that are byproducts of the emergence of digital currencies.

“We must act with knowledge and not with fear, we must ensure that we are in a position to benefit and in a position to prevent any of the adverse side effects or any of the criminal acts that may arise as a consequence of adopting or taking any of these options.” He explained.

Taking to Twitter to share the aforementioned keynote speech at the summit, he went on to emphasize the impending innovative shift that the country would make when digital currencies dominate the financial market.

As he puts it :

Advertisement &  & 

“Cryptocurrencies in the coming years will challenge traditional banking, including reserve banking, in ways that we cannot yet imagine, so we need to be prepared for that seismic shift.”

Nigerians respond to the government’s  “theatrics”

The Crypto-community in Nigeria has responded to the Vice President’s speech in sarcastic unison, as they await a turnaround of events to carry out the job of clearing their doubts. Similar theories have sprung up, following the country’s Cryptocurrency ban, in which banks were prohibited from partnering with Cryptocurrency firms to process payments. 

Many have suggested that the government’s decision to ban Cryptocurrency is birthed out of the fear of the decentralized nature of digital currencies, which were efficient for the ‘EndSars’ protesters to bypass bank restrictions and continue with their march against police brutality.

Nigerians cling to P2p trading to help combat government policies

It remains to be seen what the future holds for the country, whose younger citizens have helped to boost and profit from the booming industry of Cryptocurrency investment and trading, among other Crypto-related activities from their end.

In the meantime, for Cryptocurrency trading platforms like Buycoins, the show must go on. Users of the platform have since returned to their roots as the platform employs a third-party app to facilitate peer-to-peer trading.

Even though this could potentially affect the speed at which transaction is processed, Nigerians have reaffirmed that sticking to the available option is still less risky than storing their money in a traditional bank.


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/nigerias-vice-president-makes-a-surprising-case-for-cryptocurrencies/

Continue Reading
Blockchain5 days ago

Gemini collaborates with The Giving Block and others, adds donations option

Blockchain4 days ago

NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Blockchain2 days ago

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

Blockchain5 days ago

What Coinbase Going Public Could Do For Crypto

Blockchain4 days ago

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot

Blockchain4 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain3 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain15 hours ago

Why Mark Cuban is looking forward to Ethereum’s use cases

Blockchain5 days ago

Coinbase public listing filing details 2020 revenue, major a16z stake

Blockchain2 days ago

Korean Government To Levy Taxes On Bitcoin Capital Gains Starting 2022

Blockchain2 days ago

NBA Top Shot leads NFT explosion with $230M in sales

Blockchain3 days ago

XRP, STEEM, Enjin Price Analysis: 27 February

Blockchain2 days ago

Inverse Finance seizes tokens, ships code: Launches stablecoin lending protocol

Blockchain2 days ago

Polkadot, Cosmos, Algorand Price Analysis: 28 February

Blockchain2 days ago

How KuCoin Shares (KCS) Can Create a Stream of Passive Income

Blockchain4 days ago

‘Bitcoin could reach $1 million or $1, and may do both of those’

Blockchain3 days ago

Here are 6 DEX tokens that have seen exponential growth in 2021

Blockchain3 days ago

6 Questions for Kain Warwick of Synthetix

Blockchain3 days ago

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

Blockchain2 days ago

Litecoin, Monero, Dash Price Analysis: 28 February

Trending