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Bitcoin (BTC) and the Topsy-Turvy World of Cryptocurrencies

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Bitcoin

As we move into the second quarter of 2018, the cryptocurrency market struggles to revive from the bearish trend observed largely in the first quarter of the year. Even though the cryptocurrency market in 2017, when seen holistically, had major successes mainly, the talks of regulation and banning of cryptocurrency exchanges in many countries (like South Korea and China) has had a massive impact on the market. The effects could be clearly seen in Q1 of 2018. The price of Bitcoin had fallen by nearly 40% and everything for the crypto coin was looking bleak. The cryptocurrency world is known to feature an extremely liquid market but Q1 had seen a ‘steady’ decline. When thinking about the ‘fall’ of Bitcoin, two questions mainly come to the mind.

Is the craze about Bitcoin dying?

Most of the news articles on Bitcoin was talking about its fall in price in 2018 Q1. In fact, the early April Cboe report says that Bitcoin will largely continue to feel the bearish pressure in the second quarter also. Why this sudden unpopularity? Are people losing faith in Bitcoin? Do these questions answer the drop in price? The price of Bitcoin at the time of writing is approximately $6860.68 USD (as of 11th April 2018). This is a massive drop when compared to the Q4 prices of Bitcoin in 2017.

  • There is the scalability issue of Bitcoin that many other cryptocurrencies are addressing to. The fact that one single transaction takes up nearly 10 minutes and the block size is only 1MB have shifted the focus of many investors.
  • The transactions are quite expensive compared to crypto coins. Usually, the sender has to pay an exorbitant transaction fee that increases the expense of the transaction.
  • Another major reason is that Google and Apple do not support Bitcoin on their mobile platforms. Moreover, Google does not accept in-app payments made with Bitcoin.

Or do these new coins have too good a whitepaper?

A large number of articles have been written about crypto coins like Ripple, EOS, Tron, and Stellar. They have been making headlines with news of new partnerships, solving transaction issues in daily life and so on. According to some experts, that the exponential increase in the number of ICOs and many new coins emerging on the block have reduced the popularity of Bitcoin. But, when the success of newcomers like Ontology is taken into consideration, they cannot be really put to blame. The coins listed below are focusing on practical purposes and can even be said superior to Bitcoin in one way or another.

Ontology: Ontology (ONT) had entered the market as a crypto coin hardly a month ago. ONT has actually made it to the 21st position on coinmarketcap.com within such a short timeframe. The price of ONT at the time of writing shows $4.40 USD (15.88%) approximately. The focus of Ontology is on incorporating businesses from all walks of life into the world of blockchain technology. The platform of Ontology will allow businesses with no knowledge of distributed networks take advantage of the blockchain technology. The distributed trust system of the platform has indulged multiple trust types using various databases and blockchains. From its whitepaper, “Multisource identities and multi-source data exchange protocols have been implemented into the network, building a distributed trust system that is cross-chain, cross-industry, cross-system, cross-application, and cross-device.”

Bytom: Launched in the market on 9th August 2017, Bytom (BTM) currently ranks 28 in the coinmarketcap.com website. At the time of writing the price is nearly $0.60 USD (14.60%). The platform of Bytom is considered to be the “intermediary link” between generalized blockchains and specialized blockchains. It aims to bridge the distance between the physical and the digital world. The objective as stated on the official website of Bytom, “Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.”

DigixDAO: It seems that while many of the cryptocurrencies were going through a rough phase in Q1, DigixDAO (DGD) was gradually paving its way up the ladder. Currently, the coin ranks 33 on coinmarketcap.com and the price at the time of writing is approximately $208.85 USD (2.01%). (As of 11th April 2018) One major reason for its rise is its ecosystem—DigixDAO (DGD) and GigixGold (DGX) tokens. They work hand in hand during platform transactions. Digix is basically an asset-tokenization (gold) platform that has been developed on Ethereum. The Proof of Provenance Protocol (POP) ensures that the records of proof are eternally published using IPFS and Ethereum.

Loom Network: Another coin that was launched in March 2018 in the cryptocurrency market and has improved greatly (currently, rank 154) is Loom Network. At the time of writing, the price shows $0.118 USD (10.85%) approximately. The team is focused on developing Platform-as-a-Service (PaaS) application to solve the scaling issues of dApps on the Ethereum blockchain. Loom Network plans to support different types of dApps that also have their own sidechains. At the moment, the team of LOOM is creating mobile games that will display the unique features of their scalable DAppChains.

Ontology, Bytom, Loom Network and DigixDAO seem to have won the battle with the bearish cryptocurrency market in Q1 of 2018, at a time when top-ranked coins like Bitcoin and Ethereum had shown a major drop in prices.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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