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Will Bitcoin Hit Zero In 2019?



will Bitcoin hit zero

So far, the entire year of 2018 has been dominated by the bearish market, and it appears that things will not change in the few short days that are left before we enter 2019. Due to the current situation, many have taken different stances when it comes to the future of crypto, and its leading asset — Bitcoin (BTC) itself. While there are plenty of those who believe that the bear market is just a temporary issue, such as John McAfee, there are also those who claim that cryptocurrencies are spiraling down to their doom. Some are even asking will Bitcoin hit zero in 2019?

The mining dilemma

One of the biggest problems that cryptos are believed to have at this point revolves around the process of mining. As many are already aware of, mining is a process of using expensive computers to solve complex mathematical equations which lead to validating transactions made on top of the blockchain.

By doing this, miners themselves earn a certain amount of the cryptocurrency whose blockchain they service. These come as a type of reward for validating transactions, and that is pretty much what mining really is. The process itself is created in a way that makes it more and more complexed as more coins are put in circulation. While resources necessary for mining — such as computing power and electricity — continue to rise, Bitcoin rewards continue to drop.

This would still be able to work if Bitcoin price continued to increase, which is currently not the case. As a result, numerous miners are opting to leave, and even the entire mining facilities are being shut down. The entire network takes a hit because of this, as transactions will take longer to be validated, which will cause people to eventually stop making them.

Many are asking why did Bitcoin become so big in the first place, considering the fact that the process of running its network is so obviously flawed. One answer provided by analysts is that Bitcoin is the most popular coin simply due to the fact that it was the first crypto to appear. However, while these analysts claim that Bitcoin might eventually fail, it is entirely possible that another cryptocurrency, one with the best available technology, will take its place and lead the crypto space of the future.

This situation can be compared to the one regarding internet search engines. While the entire world has heard of Google, not a lot of people remember the first search engine to ever appear online, called AltaVista.

The Bitcoin network has a number of other issues

While mining is a big part of Bitcoin’s potential downfall, it is certainly not the only problem with this coin. Another big flaw is Bitcoin’s inability to scale. Its network can only process about three or four transactions at once. Ethereum, for example, is significantly better with its 15 TPS, although by today’s standards, this is also nowhere near what the crypto space requires. Visa’s payment network, for example, can work through thousands of transactions per second. And, while there were numerous attempts to make the BTC network artificially more scalable, the results did not achieve much as of yet.

Another big issue includes the lack of anonymity, with BTC being pseudonymous, at best. Because of problems like these, there are currently over 2,000 different crypto projects on the market, attempting to offer better solutions. While none of them threaten Bitcoin’s dominance right now, some are starting to get closer to actually endangering its position.

Still, the situation might not be that bad, as it will likely take years before Bitcoin actually falls if it ever happens at all. Bitcoin is very unlikely to fail as soon as 2019, although there are reasonable concerns regarding its future further down the line. While investors are advised to hope for the best, they should also be prepared for the worst.

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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 Surges After Tesla Bought $1.5 Billion Worth of BTC




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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



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

Xeno Holdings Limited ( ), 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 ( ), 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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Wisebitcoin Launches Professional-Grade Crypto Exchange



Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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