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A fork could change the equation for thousands of bitcoin users. The biggest, newest fear for bitcoin investors and users is a fork. In financial terms, a fork isn’t for eating — it represents a split in the currency that could significantly destabilize the cryptocurrency’s value by splitting it into two completely different currencies — “bitcoin classic” and “bitcoin current.” Right now, bitcoin’s price has been rising, but come August 1, there’s a small chance its future could change forever. So when will Bitcoin fork, and what does that mean for the future of the currency? The answer is a bit complicated. To understand it, here’s a rundown of the central problem facing bitcoin and the various ways its software-savvy community is trying to fix it. The problem Bitcoin has one central problem — it’s slow as heck. The world’s leading cryptocurrency is crippled by its meager ability to facilitate a mere seven transactions per second. As more and more people buy in and adopt the cry

Bitcoin Press Launch: Hubcoin gets on a mission to unite altcoin programmers by producing different devices for them and also helping the whole crypto-community with financial investments and also promotions.July 25, 2017, Minsk, Belarus– Belarus-based blockchain company Hubcoin prefers to report that 300,000 (10%) of the complete pre-mined HUB symbols was dispersed between all other altcoin programmers, that consented to receive them. The decision corresponds with the ongoing  HubCoin ICO, running from July 17, 2017, till July 31, 2017. During the ICO, the platform has made continuing to be 3,000,000 CENTER tokens readily available for purchase to the investors.The Hubcoin platform thinks that the recent experiments with reasonable coins have actually revealed wonderful success and also yet leaves a great deal of unrealized protocol. Complying with other premine distribution tasks like NEM as well as Auroracoin, Hubcoin has determined to designate 10% of all its premined HUB tokens

Image caption"Accepting cryptocurrencies broadens my client-base," says Eleesa Dadiani Why is the art world getting excited about digital currency Bitcoin and its underlying technology blockchain? Eleesa Dadiani owns and runs an art gallery in London's famous Cork Street. She was born in Georgia in the Caucasus and was "breastfed by gypsies". But she is also a passionate believer in the power of Bitcoin and other digital currencies. When we meet she is busy preparing for an exhibition of sculptures made from the exhausts of former Formula 1 racing cars. One of these strange rib-cage-like creations made from the super-strong alloy inconel has been gold-plated and will sell for about £35,000. "These are pieces of history," she tells me. In a first for the tradition-bound art world of Cork Street, her international clientele will have the opportunity to pay using Bitcoin, the digital cryptocurrency underpinned by blockchain technology. The galle

A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by  Nikkei , Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘ Zengin ’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The restrictive traditional system typically offers money transfers between 8:30 AM and 3:30 PM in the country. The banks are a part of a consortium of Japanese banks led by SBI Holdings and  SBI Ripple Asia , which sees over 50 members its payments consortium. However, the report reveals that only a handful of banks are participating in the test using virtual currencies, of which Ripple’s XRP is a conten

Can Bitcoin help people break out of poverty? What if we could build a financial system with Bitcoin that would lead to a  more equitable and fairer society ? Bitcoin has been around for nearly a decade now and it has survived many doomsday predictions regarding its demise. It has grown to become an accepted medium of transferring money, it has also been recognized as a currency in some countries like Japan. Why is the existing system broken? The present financial system is supported by  large-scale financial institutions  that provide financial services. This means banks, insurance companies, credit card companies, housing finance companies, money transfer companies etc. The problem is that while these businesses have existed for a long time, accessibility has always been an issue. According to the world bank, two bln people still do not have access to a bank account. Yet this present financial institution based payment system is stuck in an archaic era. People are expected to u

Bitcoin price is pushing on with its bullish gains as the cryptocurrency continues to reach the dizzying heights scaled in early March during the lead-up the SEC decision of the Winklevoss bitcoin electronic traded fund (ETF). It has been a month of continuing gains with a positive trend for the world’s most prominent cryptocurrency. Having started April at $1,068 on the Bitstamp Price Index (BPI), today’s trading shows price reach a high of $1,274. Bitcoin has now gained nearly 20% in value since the turn of April. Bitcoin prices since April began. BPI data reveals trading on Monday begain at $1,241 and a sustained trading period has seen an upward climb for the value of the cryptocurrency. Bitcoin prices were hovering above $1,250 at the start of Tuesday (midnight UTC) into the early hours of the day. At 07:30, a surge spurred prices from $1,252 to $1,260 in a 2-hour period. A more notable spike followed in the next 2-hour period as price pushed upwards of $1,270 to peak at $1,2

If you’re planning to hold bitcoins long term, one of the easiest, best ways to store them is in paper wallets, somewhere safe, such as a safe for instance, that you have control over. More technological methods such as the Trezor hardware wallet and others have come about, and we are hoping to acquire one of those for review purposes soon. But the paper wallet serves a lot of important purposes in Bitcoin. Perhaps its most novel purpose is shattering the idea that computers are necessarily required to transact in bitcoins. Indeed, if dealing with an actually trusted party, receiving bitcoins via private key on a paper wallet is as secure as any other way of receiving them. The key word there is trusted party. If two parties have access to a private key, that private key can be swept into another wallet very easily. Thus, if the party was a stranger or an untrusted party, they could as easily sweep the coins into another wallet directly after or minutes before handing over a paper wal

Contrary to most claims, Segregated Witness (Segwit) doesn’t necessarily require users to manually upgrade their systems or wallets in order to receive Segwit transactions. The activation of Segwit does provide notable changes to the layer one of the bitcoin network and as a result, wallet platforms will be required to alter their applications pertaining to the changes made by Segwit to the bitcoin protocol. For users of major bitcoin wallet platforms which already are Segwit-ready such as Blockchain, Coinbase, Copay, Ledger and Keepkey, upon the activation of Segwit, they will be able to receive Segwit-enabled transactions. // Let us help you become financially independent. Read exclusive stories, bitcoin analysis, and tutorials. Use the coupon code "CCN5" and get $5 off. Join  Hacked.com  now. // According to David Harding, the co-author of the Bitcoin.org developer documentation, users will be automatically introduced to Segwit-enabled versions of wallets, wallet addre

Offered its status as the original blockchain protocol, it must be no shock that bitcoin has prolonged dominated the digital currency markets. In terms of  marketplace capitalization , it dwarfs other cryptocurrencies. Its first-mover status and widespread adoption has (so far) provided bitcoin the dual advantage of network result and steep barriers to entry, retaining choices at bay. But there is proof that this longstanding narrative could be shifting. Latest infighting in bitcoin’s development local community has provided a uncommon opportunity for options to stress their worth propositions and even assert new ones (like getting a hedge in instances in which bitcoin’s potential would seem uncertain). This has led to an exciting, observable trend. While the complete pie of the cryptocurrency marketplace keeps developing more substantial, bitcoin’s slice is getting to be smaller sized. one. Bitcoin’s dominance decline The clearest illustration of bitcoin’s network result is the

Bitcoin has swatted away the distraction of a failed attempt to establish a bitcoin exchange-traded fund (ETF) by the Winklevoss twins to supersede its levels prior to the SEC ruling on Friday. On Monday, bitcoin price reached a high of $1,249 at the time of publishing on the Bitstamp Price Index (BPI). It was an eventful and dramatic Friday for bitcoin. Having flirted with $1,200 through most of Thursday, bitcoin price began trading above the milestone on Friday. Anticipation turned to excitement in the lead-up to the decision as frenzied trading pushed bitcoin to an  all-time BPI high of $1350 . The SEC’s  refusal to approve the Winklevoss’ bitcoin ETF predictably led to a rapid sell-off, as bitcoin price  sunk to a low of $975  in a ten-minute period from $1,288. From its all-time high to a new 30-day low, bitcoin has lost nearly 28% in value. In the aftermath of the decision, price resurfaced above $1,100, finding new support. // Let us help you become financially independent. R

Drew Llewellyn bought his first Bitcoin in 2011. Over the years, he has paid up to £899 ($1,100) and as little as £14.70 ($18) for one Bitcoin, as the value of the digital currency has dramatically risen and crashed. But now, for the first time,  one Bitcoin has topped the value of an ounce of gold. And Drew, who owns 18, is pretty happy about it. On Thursday night, the value of a Bitcoin closed at £1,036 ($1,268) while an ounce of gold stood at $1,233. Morerelated stories Guide: What is Bitcoin? Bitcoin value tops gold for first time Does Bitcoin still matter? "For years critics have said Bitcoin will never last - that its value will drop, that it will never be adopted, and even that it's some kind of  ponzi scheme ," he told Newsbeat. "Today's all time high is another example of how, year on year, Bitcoin is becoming more prevalent, reliable and valuable." What can you buy with Bitcoin? Drew, who works in IT in North

Bitcoin  and  digital currency  are exciting new areas of business and finance, and an ideal target for anybody looking to break into the tech industry or change career paths. The revolutionary potential of digital currency is only just starting to be fulfilled, meaning that there is a huge range of opportunities for businesses to take advantage of. But because of the fact that it is so new and different, there is also a huge shortage of knowledgeable, experienced and skilled professionals able to take on the challenge of helping businesses to capitalize on the potential of Bitcoin and digital currency. All of which means that this is an ideal time for tech savvy workers looking to get a job in Bitcoin or other digital currency related companies. If you are a digital currency enthusiast with a bit of knowledge about the industry, and any transferable skills such as in marketing, journalism, business admin, or actually writing programming code, then you can expect to command a great s

For nearly the past two years, various alternatives to Bitcoin Core have attempted to increase Bitcoin’s  block  size limit via  hard-forking changes  to the codebase run by nodes on the network. While manageable capacity increases are desired by many Bitcoin users, the complications associated with hard forks have left the network unwilling to adopt an increase to the block size limit. A hard fork requires every economically-relevant Bitcoin full node (or at least nearly all of them) to upgrade to a new network, while a  soft-forking change  is backwards compatible. As illustrated by  Ethereum’s hard fork to bailout DAO token holders , contentious hard forks can be difficult to pull off. Of course, a sufficiently contentious soft fork could also lead to users hard forking away from the current group of miners in an effort to opt-out of that particular version of Bitcoin, which could potentially lead to two different versions of Bitcoin continuing to exist (similar to

Previously, before the People’s Bank of China requested local bitcoin exchanges to implement a trading fee system, the vast majority of traders and investors believed that the Chinese market controlled over 90% of the global bitcoin exchange market. While the Chinese market certainly did demonstrate dominance over the global bitcoin market in the past, the emergence and development of major US and Japanese bitcoin exchanges including Kraken, Bitfinex, and Bitflyer allowed the two countries to takeover and outpace China. Naturally, the PBoC’s involvement and statements on bitcoin showed diminishing impact on the value of bitcoin and the global bitcoin market has become less dependent on China, its government and exchange market. The weakening authority of the PBoC over the bitcoin exchange market allowed the digital currency to r eecover relatively quickly  amidst substantial declines in value and demonstrate a higher level of resilience towards the PBOC and regulator

The  Bank of Tokyo-Mitsubishi UFJ , Japan’s largest bank, has chosen blockchain technology as the core infrastructure toward testing the digitization of checks using Singapore’s Fintech-friendly regulatory sandbox installed by the country’s central bank, the Monetary Authority of Singapore. First  announced  [PDF] last year, the Proof of Concept (PoC) testing is the result of a joint endeavor between the bank and major Japanese conglomerate Hitachi. The two companies developed a blockchain-based infrastructure to issue, transfer and collect electronic checks. With the PoC testing, the bank issued and settled checks while the Hitachi Group’s companies in Singapore received the electronic checks and then deposited the funds. “The project is to digitalize entire check processing – from issuing checks to clearing checks,”  stated Hirofumi Aihara, general manager at MUFG’s Asian Systems Office, recently. What is commonly seen as a paper-only process, a bank first issuing checks to the cus

As there is no centralized entity controlling the ecosystem. Nigerian banks are contemplating to legalize bitcoin, which would give the popular cryptocurrency a significant boost, to say the least. NIGERIA HAS PLANS WITH BITCOIN It is not the first time someone brings up the concept of Nigerian banks legalizing bitcoin. The same idea was  proposed  several months ago. Albert no one saw this as a hint of what the future could hold, it would appear various Nigerian banks are thinking along the same lines. This development caught quite a few people by surprise, even though it makes a lot of sense. An article appeared in The Inquirer, which talks about how the Nigerian Bankers Committee is studying blockchain technology. That is anything but surprising, as nearly every bank around the world is well aware of what distributed ledgers bring to the table. However, there has not been any major product to come forth from this interest so far. Experts predict a few of these bl