Tag: bitcoin strategy

Super Crypto Investment Banking

It became the first decentralized peer-to-peer payment network for using without any central authority or middlemen. In a nutshell, bitcoin is the money for Internet. Its original purpose is providing all people with universal currency for different operations. Bitcoin can also be described as the most prominent triple entry bookkeeping system in existence. Bitcoin has already changed people’s understanding of currency, payment and monetary system in whole. Its crucial feature is that there is no need in third party actions as people make peer-to-peer (P2P) payments just in 10 minutes, unlike credit cards which can take up to weeks to process payment.

Calculation and selection of financial planning

Example $10,000 annual return on investment

1.Firt small plan 0.88% HOURLY For 120 Hours–ROI(Return On Investment)–0.88%x120hours=105.6% per 5 days =133.6% per(30days) month =503.2% per 12 months
So $10000 invest in First small plan will total return $50,320

2.Second Plan 1.83% HOURLY For 60 hours–ROI (Return On Investment)–1.83%x60hours=109.8% per 2.5 days =217.6% per(30days) month =1511.2% per 12 months
So $10000 invest in Second plan will total return $151,120

3.Daily Plan 66% DAILY For 2 Days–ROI (Return On Investment)–66%x2 days=132% per 2 days =580% per(30days) month =5760% per 12 months
So $10000 invest in 66% daily plan will total return $576,000

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This Week in Cryptos: Binance to Support Dogecoin while Cuba Looks towards Cryptos

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Bitcoin Holds Above $11,300, Top Cryptocurrencies See Mixed Results as Market Reacts to Lagarde Appointment

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Bitcoin (BTC) Poised to Dump on Crypto Suckers, Says Veteran Stockbroker – Plus Ripple and XRP, Ethereum, Tron, EOS, Litecoin, Augur

 

Image result for Bitcoin (BTC) Poised to Dump on Crypto Suckers

From gold bulls dissing Bitcoin to the new Captain America pledging his allegiance to Litecoin, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

Veteran stockbroker and CEO of Euro Pacific Capital, Peter Schiff, says he expects Bitcoin’s 132% rally in 2019 to reverse. In a new debate with Barry Silbert, the founder and CEO of Digital Currency Group, Schiff called Bitcoin an elaborate pump-and-dump scheme for suckers.

“The air is already coming out of this bubble, right? The peak of market was at $20,000. And so that was a blow-off speculative mania when they launched the Bitcoin futures and everything rose. So now, we’re in a bear market. And in a bear market, you always have rallies. That’s what bear markets do. They try to sucker in the bulls. You have these false rallies. We’re having one now.

But initially, a lot of people got suckered into this pump-and-dump scheme because they heard all the stories about the young kids who took their bar mitzvah money and now they bought a Lambo. And everybody thinks they’re going to get rich because they think these kids were geniuses when all they did is get lucky because they bought Bitcoin and then the price went up.

So there’s a lot of stories about people who got rich because they got in. Well, pretty soon it’s mostly going to be stories about people who lost their life savings because they put real money instead of play money into Bitcoin. And when you have the horror stories outnumber those positive stories, the brand is going to be tarnished. I don’t think you’re going to have a bunch of young kids rushing to buy Bitcoin because they’re going to know how much money their friends lost because they bought it.”

In response, Silbert points to financial giants like Fidelity that are now joining the industry to sell Bitcoin to institutional investors. Silbert says he believes Bitcoin – and the growth of the cryptocurrency industry at large – is very real, and will push the price of BTC higher in the long run.  

“I think investors are hearing the gold argument and they’re hearing about the scenario where it performs well when things are going not so well in the world. And I would argue, given that Bitcoin has all the same characteristics as gold – scarce, finite, portable, highly divisible – I think it has a lot more utility. Arguably Bitcoin would perform well in that environment that Peter’s describing.

But Bitcoin, and more importantly, the community and the industry that is being built, the thousands of companies that have been launched over the past five year, the tens of thousands of jobs that have been created – the real innovation that’s happening – I assure you, is going to propel the Bitcoin price higher. Because it will generate real innovation in a world of economic growth, where gold will only perform well if the shit hits the fan…

What I think gold bugs don’t appreciate, is there is a generational shift in investor mindset that’s happening. Over the next 25 years, $68 trillion of wealth is going to be handed down from Boomers, Gen X, Gen Ys and Millennials. And I can assure you that the younger generation of investors, many of you here apparently agree with this, don’t view gold the same way that our parents and grandparents did.

We did not grow up under the gold standard. We did not grow up during a time of war, so as that $68 trillion gets handed down, it is not going to stay in gold. Now, is whatever is in gold right now all going to go to Bitcoin? No, of course not. But gold is an $8 trillion market cap asset class. Bitcoin’s $100 billion. So a lot has to go right or frankly, in Peter’s view, a lot has to go wrong for an $8 trillion asset class to jump in price. And $100 billion for Bitcoin, it really does not take a lot for Bitcoin to outperform gold over the next 10 years.”

Ethereum, EOS, Tron

Decentralized apps (DApps) on the EOS network continue to outpace those on Ethereum and Tron. According to DappReview, $25.2 million worth of EOS flowed through DApps on the network in the last 24 hours, with 125,600 active users.

Meanwhile, 48,600 users spent $14.6 million worth of TRX on Tron-based DApps, while 18,700 users spent $9 million ETH on Ethereum-based DApps.

Ripple and XRP 

Ripple continues to hire new employees around the globe. The company is now looking for an operations associate for Xpring, Ripple’s XRP development and fundraising arm. The position is in San Francisco. At time of writing, the start-up has a total of 62 open positions, including eight with Xpring.

Litecoin

In an interview with Vanity Fair, actor Anthony Mackie, who will assume the role of Captain America in future Marvel movies, says he checks his Litecoin app every day.

“I don’t trust Bitcoin. Litecoin forever.”

Source: Pivot – Blockchain Community

Tim Draper Believes Bitcoin Will Grab 5% of the Earth’s Market Share

While Elon Musk and Jeff Bezos are focused on Mars, billionaire venture capitalist Tim Draper has his feet firmly planted on the ground. Draper might appear to have his head stuck in the clouds with a lofty $250,000 bitcoin price prediction. But from what he tells Fox Business, the early bitcoin investor isn’t stargazing:

“I’m a believer that in four years, something like that, bitcoin will be about a 5% market share of the earth.”

Draper’s Bitcoin War Chest is a Cool $189 Million

He pointed to bitcoin’s best features such as decentralization, transparency, and simply being a better currency than fiat. Draper was an early bitcoin investor, having purchased 30,000 BTC when the price was hovering at $632 per coin. He points out that the investment is worth 10x that amount today, and he’s got no doubt that it’s going much higher.

Draper envisions a future in which bitcoin further disrupts the venture capital business model.

“I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin. And then I pay my investors in bitcoin. Because I would then require no acounting, no legal, no bookeeeping, no custody. It would all be done.”

Considering that transactions would be recorded on the blockchain, all relevant participants would be able to see everything. Tim is a big fan of bitcoin but he keeps an open mind about other cryptocurrencies, too. Though he does expect that the number of coins will be whittled down to only the best projects.

Tim Draper has a $250,000 price target on bitcoin. | Source: CoinMarketCap

Tim Draper on Facebook

Everyone knows Facebook is pursuing a $1 billion fund for its new stablecoin, and Draper has been linked to discussions with the company about the initiative. Incidentally, the gloves came off on one of Facebook’s founding members earlier this week, with Chris Hughes calling for the breakup of Mark Zuckerberg’s company. Draper isn’t buying into it.

“If the shareholders will benefit somehow by a breakup, then sure go ahead and do it. But the idea that he has all this centralized power…I think he’s just building a business and it’s a great business. And there are plenty of competitors to him out there. And I’m very pleased that he’s done so well.”

If his tone is any indication, perhaps we will be hearing about a VC investment into Zuckerberg’s new blockchain project.

Meanwhile, the bitcoin price is currently hovering at $6,379. It’s a far cry from Tim Draper’s $250,000 target but if he’s right and it captures 5% of the earth’s market share, the moon will seem a lot closer than it does today.

Source: Tim Draper Believes Bitcoin Will Grab 5% of the Earth’s Market Share

This Awful Bitcoin Stat Guarantees It’s Not Crypto’s Future: Mathematician

With all the hype about blockchains and their many uses, we shouldn’t forget the original purpose for the Bitcoin blockchain and Nakamoto’s great leap forward.

Blockchains and cryptocurrencies were created to be decentralized currencies, replacing or complementing fiat currencies. For the most avid crypto fans, crypto is the future of currency and will eventually handle full-scale economies. We dream of the day that we laugh and tell our kids and grandkids that we had physical wallets, paper currencies, and things called “credit cards” (“Grandpa, seriously, you are so old!”).

Preparing the Crypto Economy for Mass Adoption

So what has to happen in order for us to run economies on the blockchain?

There are several hurdles we still need to clear, like getting the value of these currencies to be stable, handling privacy in a sensible way, and getting confirmation speeds fast enough for point-of-sale transactions.

By far the most glaring hurdle, however, is throughput. We need to be able to handle many, many more transactions per second than any current blockchain is capable of. At 13 transactions per second (a high estimate), Bitcoin can handle just over a million transactions per day. For niche, small economies, this might do the trick. But it certainly won’t do it for, say, the US economy.

Let’s put this into perspective. In 2017, the US gross domestic product (GDP) was almost $20 trillion. GDP isn’t a great measure of how much money changes hands during the year, but for our purposes, it’s close enough. If about $20 trillion changed hands in the US in 2017, then about $54 billion changed hands every day (20 trillion divided by 365). Ignoring how slowly Bitcoin processes transactions, if it were to handle $54 billion in transactions in one day, transactions would have to be on average about $54,000 (54 billion divided by 1 million).

What? Your everyday transactions aren’t $54,000 on average? Of course not. Between 2012 and 2017, US consumers spent roughly $80 per transaction online.

bitcoin is bad for payments

Bitcoin doesn’t look like a candidate to replace credit cards in the online payments realm. | Source: Statista

In 2016, transactions on Amex credit cards averaged about $141, and those on Visa averaged about $80. While it is true that corporations tend to transact in higher dollar amounts, it’s still likely that the crypto community is still a few orders of magnitude away from being able to handle all the transactions in an economy on a single blockchain.

If, based on the statistics I just gave, we assume that transactions are about $100 on average, then $54 billion would change hands every day in roughly 540 million transactions (54 billion divided by 100). That boils down to about 6,000 transactions per second on average. If we take into account the fact that most people transact during the day, a quick recalculation yields about 10,000 transactions in an average daytime second (instead of dividing by 24 hours of the day, divide by 16 to account for about 8 hours of sleep).

This estimate is probably about right. There are roughly 324 million people in the United States, and about 5 million businesses. If we assume that people and businesses, on average, transact 1.5 times per day, then we have about 500 million transactions per day (329 million entities multiplied by 1.5). This is close to our estimate of 540 million daily transactions from before, which gives about 10,000 transactions per daytime second in the United States.

Bitcoin Would Need to Increase Transaction Capacity By Four Orders of Magnitude to Replace Visa

Mastercard, Visa, Bitcoin

With Bitcoin’s staggeringly-limited transaction capacity, it’s unrealistic to believe it can rival Visa or Mastercard – much less both. | Source: Shutterstock

Getting back to the original question, how many transactions per second does a blockchain have to be able to handle in order to support the United States economy? Our rough calculation of 10,000 transactions per second is almost certainly not enough, but it does give a base from which we can work. To give perspective, Visa processes about 1,700 transactions per second on average but at peak times it can handle up to about 24,000 transactions per second. Their max limit is just over an order of magnitude higher than the average, in order to handle high-volume days like Black Friday or the post-Christmas wave of returns.

Taking Visa’s data as an example, since 10,000 transactions per second is our rough estimate for the average, we’d probably need to be able to handle around 100,000 transactions per second to really kill it (one order of magnitude higher than the average, similar to Visa). That’s a lot. More precisely, that’s about 10,000 times faster than Bitcoin—a whopping difference of four orders of magnitude.

To me, this says that our methods of finding consensus on a blockchain are simply not fast or powerful enough to actually use crypto as a viable currency. We need innovations in infrastructure, hardware, and consensus algorithms in order to even hope to reach this threshold.

Bitcoin Is Not the Future of Crypto

bitcoin

Derek Sorensen believes Bitcoin is definitely not the future of crypto. | Source: Shutterstock

That is to say that, barring some major changes and improvements, Bitcoin is almost certainly not the future of crypto.

Technologies like the Lightning Network attempt to solve the scalability problem, but do so awkwardly and ineffectively. Opening channels to transact off-chain ties up money in extremely inconvenient ways. In practice it incentivizes users to open a single channel with a centralized liquidity provider on the blockchain, rather than opening many channels. This effectively creates unregulated, centralized banks, and in my view goes against the core principles of blockchain technology. Even worse, because transactions are done off-chain and channel data can’t be deterministically rebuilt, if a Lightning node crashes, both parties can easily lose funds. It may genuinely be one of the worst ideas in cryptocurrency.

Notwithstanding, the blockchains of the future may not be so far off. New research in math shows promising results in the mathematical foundations of consensus that could produce blockchains with 50,000 transactions per second or more without compromising safety or decentralization. Every day, a new paper comes out or a crypto startup launches a new product.

There are plenty of bright minds working on securing the crypto dream. I guess in twenty years if you’re paying for your groceries with crypto you’ll know that we succeeded.

About the Author: Derek Sorensen, Pyrofex Research Mathematician, has an MSc in Mathematics and Computer Science from the University of Oxford and is set to start his PhD this fall at the University of Cambridge, where he will study logic and topology. His work at Pyrofex is in formal verification, which includes research on the theory of consensus and setting up mathematical frameworks to prove theorems about code.

Source: This Awful Bitcoin Stat Guarantees It’s Not Crypto’s Future: Mathematician

Armin Hamidian : Helping To Build Our Center Against Crypto Scams

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Bitcoin Cash Price Surpasses $250 Following Monster Bullish Run

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Ripple Just Announced That It Is A Founding Member Of The European Commission’s Association For Blockchain, INATBA

Ripple Just Announced That It Is A Founding Member Of The European Commission’s Association For Blockchain, INATBA: The association has several other notable players in the cryptocurrency space, including IOTA, Cardano, Lisk, ConsenSys, Ledger and R3; and some outside, like payments system SWIFT

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A 5-Star Hotel In Switzerland To Accept Crypto

A 5-Star Hotel In Switzerland To Accept Crypto: Nothing beats a great vacation after a hectic schedule, especially with the use of cryptocurrencies.Dolder bitcoin-friendly hotel is looking forward to be introduced in the world of modern payments and that is one of the Switzerland’s five-star Hotels.

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