About Bitcoin & Cryptocurrency
Bitcoin (created 2009) was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies like Ethereum, Ripple and Monero have been created, frequently called altcoins.
Bitcoin and its derivatives use decentralized control as opposed to centralized banking systems.
The decentralized control is related to the use of bitcoin's blockchain transaction database.
Since the Bitcoin Boom in 2017 Cryptocurrency ICO's raised over $4.500.000.000 and most of them continue to grow daily.
Believed to be bubble by many, called a "new world currency" by enthustiasts. However, Bitcoin is not a currency by fundamental standards, it's more like a complex money transmission system, as legendary investor Warren Buffet explained.
Also cryptocurrency, being technically untraceable, is known to be used in many illegal transactions and money laundering, therefore some countries are already heavily working regulating and even banning Bitcoin and cryptocurrency, e.g. Japan and China.
The underlying technical system upon which any decentralized cryptocurrency is based was created by a group known as Satoshi Nakamoto.
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions,
to control the creation of additional units and to verify the transfer of assets. Cryptocurrencies are classified as digital currencies
and are also classified as alternative currencies and virtual currencies. You should always consider that getting involved with any cryptocurrency involves not only high possible returns, but also a high risk.
Nevertheless many governments worldwide have started to get familiar with Bitcoin and cryptocurrency, e.g. the United Kingdom, with the Bank of England having stated to work on a Bitcoin-style cryptocurrency (Ukoin).
In the US, Bitcoin and other cryptocurrencies have been recognized as a convertible virtual currency,
which means accepting them as a form of payment is exactly the same as accepting plain cash, gold or gift cards.
In 1998, a computer specialist named Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system.
Shortly after "bit gold" was created. Like Bitcoin and other cryptocurrencies that follow it,
bit gold required users to complete a proof of work function with solutions being cryptographically published.
A cryptocurrency based on a reusable proof of work was then created by Hal Finney, following the works of Dai.
Cryptocurrency networks open a loophole of regulation that attracts many users who seek decentralized exchange and use of money.
however, the very same lack of regulations has been critiqued as potentially enabling criminals who are looking to evade taxes and launder illegal money.
The anonymity that most cryptocurrencies offer can also serve for criminal activities, e.g. to launder money.
Rather than laundering money through a net of companies or offshore bank accounts, laundering money through Bitcoin and cryptocurrency can be achieved easily through anonymous transactions.
Cryptocurrency is also used in the darknet to pay for goods on online black markets, such as Silk Road.
The illegal darknet website was shut down in October 2013 and there have been two more versions in use since then.
The successful format of this popular darknet website has been widely used in online darknet markets,
which has led to a subsequent decentralization of the darknet and online black markets. Following the shutdown of Silk Road,
the number of prominent darknet markets increased by three times.
Investing In Bitcoin & Cryptocurrency
Bitcoin has captured the world's attention.
Whether or not Bitcoin and other cryptocurrency will ultimately turn out to be a good investment or just another bubble remains to be seen.
In the past several months Bitcoin prices have enjoyed an increase that makes the 1999 dot com bubble look boring by comparison.
That excitement and the promise of sudden riches has a lot of people wondering how a Bitcoin or cryptocurrency investment actually works.
Like any speculative investment, buying Bitcoin, especially at current valuations is very risky business.
If you’re asking yourself : “Is it smart to invest in Bitcoin or other cryptocurrency?” you might want to consult your financial advisor first.
You need to know that your Bitcoin or cryptocurrency investment might lose money, matter of fact you may lose everything you invested.
If you’re not prepared to face that prospect, cryptocurrency investments might not be for you.
If you are fully aware of the risks and still willing to take it, this is what you need to know about investing in Bitcoin and Cryptocurrency :
Cryptocurrency exists in an unregulated digital sphere without involvement by a government or central bank.
This is part of Bitcoin’s mission and the whole purpose of cryptocurrency. Anyone can buy and sell cryptocurrency anonymously, and there are fewer parties taking a cut of transactions.
Once you have purchased Bitcoin or other popular Cryptocurrency like Ethereum, Ripple, Monero or Litecoin, it stays in your digital wallet until you trade it — by using it as currency for a purchase, or by selling it.
In 2018 you can also just buy bitcoin via mainstream investing tools like a brokerage account, using Bitcoin futures.
As of 2018, over 1,500 cryptocurrency specifications exist.
Most are similar to and derived from the first decentralized cryptocurrency Bitcoin, or based on other cryptocurrency like Ripple, Monero or Ethereum.
Within cryptocurrency systems the safety, integrity and balance of ledgers is maintained by miners, using their computer power to help validate transactions,
adding them to the ledger in accordance with a particular timestamping scheme. Miners have a financial interest to maintain the security of a cryptocurrency ledger.
The legal status of cryptocurrencies varies from country to country and is still pretty much undefined or constantly changing in many of them.
While some nations have explicitly allowed their use and trade, e.g. the US, others have banned or restricted it, e.g. China and Japan.
Various government agencies, departments, and courts have classified Bitcoin and cryptocurrency differently, yet it is still a widely unregulated market.
As the popularity of Bitcoin and cryptocurrency has increased since the inception of Bitcoin (BTC) in 2009,
so have concerns that such an unregulated person to person global economy may become a threat to society at some point.
Concerns abound that many cryptocurrencies and altcoins may become tools for internet criminals.
Many new cryptocurrency is issued as part of any ICO. An ICO (initial coin offering) is an unregulated public offering by which funds are raised for a new cryptocurrency.
An ICO is used by new cryptocurrencies to bypass rigorous and regulated capital-raising processes required by governments and existing laws.
In an ICO campaign the new cryptocurrency is sold to early backers of the project in exchange for other cryptocurrencies, often Bitcoin.
As of early 2018 the total market capitalization of cryptocurrencies is bigger than 650 billion USD and the total daily trading volume is larger than 60 billion USD.
Bitcoin & Cryptocurrency in 2018
The strong growth and volatility associated with Bitcoin, Ethereum, Ripple and other cryptocurrency have cryptocurrency investors craving price predictions for 2018.
Investors are concerned about whether Bitcoin and cryptocurrency will experience a bubble bust, or continue the rapid and wild growth like in 2017.
According to many cryptocurrency professionals it may accomplish both. In November 2017, Bitcoin plunged nearly 30% before sharply rebounding to hit the $20,000 price range.
This recent rebound involves fueling market anxiety and the fear of missing out among new cryptocurrency investors.
As a consequence, Bitcoin and cryptocurrency prices will continue to rise, and assertions that Bitcoin or cryptocurrency has entered bubble territory will undoubtedly intensify.
Since cryptocurrency prices are not based on earnings, the market will likely remain highly volatile, which any investor should consider before investing in cryptocurrency.
Many cryptocurrencies are obsolete and they will be the first to bust in a bubble.
As far Bitcoin however, Blockchain technology became hard to ignore since the rise of Bitcoin in 2017 and more of the corporate world took an interest in Blockchain technologies.
Dave Chapman, managing director at cryptocurrency trading firm Octagon Strategy, even sees the price of Bitcoin exceeding $100,000 before the end of 2018, other cryptocurrency professionals like John McAfee see other cryptocurrencies on the rise - we'll see.
In any event Bitcoin and cryptocurrency will remain a high volatile, high risk playing field.
Earn Bitcoin & Cryptocurrency Online
There are many ways how you can earn Bitcoin and other cryptocurrency like Ethereum, Monero and Ripple online.
One option is cloud mining, which means you have to give others access to your computers power to mine Bitcoin or cryptocurrency.
But we don't recommend this method as it involves high security issues. The better option is by working online from home and getting paid in Bitcoin and other Cryptocurrency.
You can get paid for simple taks like surfing or viewing ads, but you can also make money from ads when you have a own website or blog. You can even join one of the many affiliate programs paying
affiliates in Bitcoin. You can earn Bitcoin from home and receive payment within hours. Thanks to Bitcoin, there's no more waiting for checks or bank transfers to clear.
All you need to start earning is a Bitcoin wallet for receiving payments - sometimes not even your email address. It doesn't get easier than this.
On many websites that offer you to earn Bitcoin you also alternatively get paid in other Cryptocurrency like Bitcoin Cash, Ethereum, Dash, Ripple and more.
For that reason we recommend getting your online wallet to earn cryptocurrency online with Gate.io, which allows
you to hold balances in almost all large cryptocurrencies right now, in one wallet. Also it's completely free to sign up and to use the cryptocurrency wallet.
If you want to earn Bitcoin by completing tasks and getting paid for surveys,
you can sign up for free to websites like BitcoinReward and start earning cryptocurrency within minutes.
If you want to earn other cryptocurrency like Monero, Ripple or Dash you can sign up at EarnCrypto to get paid in almost all currently traded cryptocurrencies.
Many Bitcoin related stores also offer Bitcoin or cryptocurrency affiliate programs and registering is often optional - all you need is a cryptocurrency wallet.
If you have your own website or blog you can display ads on your pages and get paid in Bitcoin using platforms like A-Ads and get paid daily.