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You will love Ripple (XRP) more after diving deep in Bitcoin history

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Ripple

Back in the days when cryptocurrency was still new into the world (it still smells young), lots of headlines in the news were about Bitcoin and its price activities. Most investors at that time who took the opportunity to trade on Bitcoin enjoyed a massive success financially. Back then, altcoins such as Ripple’s XRP weren’t that much as they were just a handful of them (now we have more than 1500).

Taking a look at the history of Bitcoin, you will love to appreciate how far Ripple (XRP) has come so far in the crypto-market. So let’s take a detailed look at the history of Bitcoin.

Bitcoin’s History in Brief

The mysterious Satoshi Nakamoto created Bitcoin on the 3rd of January 2009. Although the BTC founder is still unknown today, it has been estimated that he owned 980k BTCs when the cryptocurrency was created. Taking the estimated number of Bitcoins he’d have in mind, Satoshi’s net worth could be $7.5-$8 billion.

Moving forward, Bitcoin is a cryptocurrency that makes use of a large amount of electricity before it can be mined; also, Satoshi’s crypto-protocol only permits 21 million BTC to be mined (the maximum amount that will get mined forever). Reports say that on the first amount of electricity used to generate Bitcoin, its worth was estimated to be around $0.00007.

The first Bitcoin exchange to fiat currency conversion took place in October 2009 by Marti Maimi. The following year, 2010, the first BTC exchange was created, and it was called, BitcoinMarket – the price of 1 BTC was positioned at $0.003 at that time. In December 2011, Bitcoin started trading at $6.18 against USD.

Two years later (2013), Bitcoin started growing in pace and was trading at $817.12 against U.S Dollars. After several use cases of Bitcoin in the world, the value of Bitcoin surged, and it was trading at $429.78 against the U.S Dollar on the 31st of December 2015.

In July 2016, a document was issued stating that the use of BTC for legal transactions had surpassed the application for “sin enterprise.” Fast forward, in October 2018 an entertainment enterprise, PlayboyTV, introduced BTC payments to its 100 million clients worldwide.

More interestingly, it has been reported that in ten years, about 80 percent of BTC has been mined, which implies about 16.8 million BTC ever since it was created (remember Ripple (XRP) needs not to be mined unlike BTC and other digital currencies).

But it has been estimated that it might take hundred more years for the remaining 20 percent of BTC to get mine. The reason is that the incentive miners get when they mine BTC is halved in every 4-years. According to Bitcoin’s history, it has enjoyed a gradual increase over the years.

Why It All Comes Down to Ripple’s XRP

No doubts, Ripple (XRP) will surely take its own path but will grow just as Bitcoin did. Why? We hear you ask. Simply because, as like Bitcoin, Ripple (XRP) is solving real-world problems, and will have real-life uses.

It means that the current XRP investors right now, would no doubts be millionaires in the future. Ripple’s XRP is emerging as a top-notch cryptocurrency with utility, and we may see more adoption in the years to come.

XRP’s Price Overview

After its remarkable surge a couple of days ago, in the last 24 hours, XRP has gone down by 3.08%. At the press time, XRP is trading at $0.5152 with a market capitalization of $20,716,428,980.

Yesterday an unusual transaction happened on Ripple ledger as forty million XRPs were transferred from one account to another. Even though the current XRP price is following the suit of market trend (almost all significant coins are trading in red again today), yesterday’s massive XRP transfer might have caused some panic for over-conscious investors.

Consequently, although Ripple’s XRP is in red as we write this; but there are high chances it will move up again shortly; hence this is not the right time to sell as we may see a further surge in the upcoming days.

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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

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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