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Never doubt Bitcoin (BTC) it will deliver huge wins, here are five reasons why

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Bitcoin BTC

After the fantastic bullish run Bitcoin experienced last December, it’s been going down consistently, and it’s been dragging the whole market down with it. Because the bearish run has prolonged for so long already, it’s easy to forget that Bitcoin is probably the best possible long-term bet among all cryptocurrencies so, if you’re feeling down because of the asset’s recent performance, let me remind you of five reasons for which you shouldn’t be worried at all.

Scarcity


When every possible Bitcoin token is, at last, mined, the total number of coins will be twenty-one million. Satoshi hardwired that feature into the Bitcoin blockchain precisely to ensure that a limited (and relatively small) number of coins would prevent inflationary pressure to depress the currency’s value (it seems Satoshi wasn’t only a good programmer, he knew his monetary theory as well). 

There are 4.2 million Bitcoins left to mine, so having all 21 million coins in circulation won’t take too long now. From that point on, scarcity will be a determinant factor in Bitcoin’s price, and it can only drive it up.

Technology

Bitcoin is the oldest cryptocurrency in the world. As such it’s had the most time to refine and improve its technology, and the Bitcoin community has done that very well. The Lightning Network is already online, and it has the most hash-rate power of any blockchain in the world. 

Also, the progressive hash difficulty in mining guarantees that the network’s safety is improving all the time. And in nine years, the blockchain has presented failures for a meager 0.007% of the time, which speaks about the incredible reliability it has achieved.

Regulation

The SEC has already spoken officially about Bitcoin status, and it declared to be real money. While this was not precisely an endorsement, it’s undoubtedly a good reason to forget about all the doubts, FUD and distrust that so many people feel about Bitcoin.

Institutional investors

Banks and financial institutions in New York, Switzerland, Berlin, London and other economic hubs in the world are either studying the possibility of implementing, or implementing, a way in which they can integrate Bitcoin into their traditional financial services, especially those related to wealth storage and custodial services. As they make up their mind at last and come into the market, they will create demand and reduce the coin’s circulation thus increasing prices.

The market is down, and it’s not the first time

This is not the first bearish run on Bitcoin (BTC). There was a similar one four years ago, in 2014. And Bitcoin recovered if it needed some time to do so. It will improve again for sure; it’s just a matter of time.

No enough? Charlie Lee, the former Google software engineer who created Litecoin, gave the world his expert advice to potential cryptocurrency investors. What was it? Before you buy any of the alternative coins that are available in the crypto markets, you should first make sure you own at least a single Bitcoin.

So don’t despair. If your tokens have lost some value since you first bought them, it shouldn’t worry you too much because, sooner or later, they won’t just recover, but chances are they will even go beyond. There’s no way to tell when that could happen but that’s how Bitcoin history has been for nine years and time has made it only better.

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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.

Image courtesy of Maxpixel.net

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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