Darryn Pollock

Did Bitcoin Cash’s Fork Cause Bitcoin to Go Bust?

The timing of Bitcoin’s sudden collapse to a new year low is interesting as it lines up well with Bitcoin Cash’s hard fork — is there a link?
Did Bitcoin Cash’s Fork Cause Bitcoin to Go Bust?
Contents

After weeks and weeks of incredible stability, Bitcoin and the rest of the cryptocurrency market suddenly fell dramatically with the major cryptocurrency falling to a new yearly low of just over $5,300. As is often the case with Bitcoin, its movements are often preceded by some sort of happening in the news, but there was no real catalyst for this fall.

However, its timing does raise a few eyebrows as the decline happened just before the hard fork of rival cryptocurrency Bitcoin Cash. BCH’s recent fork has been fraught with its own controversies as two different sides battle it out for supremacy.

Several analysts believe that the fear and uncertainty surrounding the BCH hard fork contributed to the over $1,000 fall in Bitcoin. Craig Wright and Roger Ver, both major proponents of Bitcoin cash, have begun advocating for two different versions of the digital currency.

Prior to the hard fork and the fall in the markets, there was significant growth for BCH as people flocked to get a free drop of equal measure of the new coin from the fork. However, even that growth has fallen back following the ongoing war between Bitcoin Cash ABC and Satoshi’s Vision.

Where is Bitcoin Cash heading?

Now that there has been a fork in Bitcoin Cash, one needs to see what the effect will be going further, especially seeing as many are pointing to its first major effect being a big drop in the cryptocurrency market.

Mati Greenspan, senior market analyst at social trading platform eToro, believes that with the strong-willed heads on each side of the BCH hard fork, it is likely there will be two versions.

"The end result will most likely be a split in the network resulting in two different versions of Bitcoin Cash when both upgrades go into effect," Greenspan told Business Insider.

“There is a tremendous amount of FUD surrounding the Bitcoin Cash hard fork," added Joshua Frank, co-founder of cryptocurrency analytics platform TheTIE.io. "It seems like there is a lot of confusion in the market as to what is driving price and who will emerge as the winner in the BCHABC vs. BCHSV fight."

There is a brewing competition for hashpower between the two sides currently, and this war has spilled out onto Twitter.

Further impact

While it can still be debated if the hard fork was the catalyst for the collapse, what is clear is that as long as this hash war rages on and there is this fear and uncertainty in the market, the outlook won’t be good.

“We have seen this FUD and confusion in Twitter conversations. This is reflected by the fact that Bitcoin Cash has had sentiment volatility three times higher than any other major cryptocurrency over the last 24 hours and BCH’s tweet volume is 217% higher than its 20 day moving average,” Frank added.

“With the uncertainty expressed by crypto traders on Twitter, both the short and long-term sentiment of Bitcoin Cash remain negative. It will be interesting to see how the sentiment of BCHABC vs. BCHSV as well as miner adoption play out over the next 48 hours. We anticipate this having a strong impact on future price movement.”

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Yuri Molchan

Blockchain and AI Combination to Push Travel Industry Forward

As DLT and AI join their efforts, a lot of current issues are going to get a new solution, including the travel industry
Blockchain and AI Combination to Push Travel Industry Forward
Contents

Blockchain keeps changing the existing many spheres of everyday life. After Bitcoin’s appearance ten years ago, open ledger technology (DLT) has become a tremendous breakthrough and is now turning into something more or less regular, even though a lot of people still fail to understand how it works. It was first used in the finance industry but now it has leaked into real estate, gambling, education, medicine and other fields, too.

Blockchain and tourism

Blockchain allows data to be strongly protected and ensure its transparency without any intermediaries. Besides, it makes not only data but also various transactions on the DLT more efficient and cheap.

Among the areas that are being impacted by blockchain is the travel industry and tourism. These areas produce almost 10 percent of the global GDP, having millions of tourists travelling around the globe every year. Moreover, the scale of these areas is growing, currently being at a historical high.

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Currently, the industry can be improved by bringing down costs and making the general customer experience better and more enjoyable. In addition, blockchain can be the answer to travellers’ prayers when it comes to numerous awful experiences regarding booking plane tickets and actual flying.

Experts believe that in the future blockchain can be applied to four main areas of the industry. Those are customer reward programs, luggage tracking, I.D. systems and the secure transaction of payments.

Luggage tracking

Luggage tracking is especially important, since even now, in the 21 century, baggage is often lost or arrives late. Luggage goes from one point to another when its owner is travelling with just a light bag. It goes from the airport to the plane, transport services, then to the hotel where you are going to stay. It goes through plenty of stopovers and transferring points.

Blockchain can be used to ensure that every unit of luggage that passes all the stages from the start to the finish point. Should any baggage be lost or delayed, DLT will be able to trace it, even if it requires getting multiple companies involved.

Payment services

Payment operations are the most frequent and practical way to use blockchain, though many disagree on that point. DLT-based systems can definitely make life easier for travel companies when it comes to payment transactions. Crypto coins that are used with them can be sent to any country, independently of local and international banks, and there is no hassle with exchanging numerous currencies and using foreign exchange platforms when you go abroad.

ID procedures

Blockchain, when implemented into ID systems at an airport/train station, makes things much easier for travellers. It allows avoiding queueing at an airport security and waiting in long lines at check-in and immigration desks, even though these are obligatory procedures. Open ledger technology can solve this problem, too. Travellers’ data on it can be easily traced and shared if necessary. This would speed up the screening procedures at airports, since DLT allows one to confirm anyone’s identity by simply leaving a fingerprint or performing a retina scan. Checking the personal documents of a traveller will no longer be necessary.

System of rewards

Another thing blockchain can be helpful in is making reward programs in the travel industry work more effectively. This field, just like others, such as hotels and airlines, prefers to attract customers with rewards for using its services. DLT can get this process to work better and more efficiently, and let clients receive their personal points in a way that is transparent and traceable.

For this purpose, crypto tokens can be used, which would also facilitate buying tickets and similar things, like paying for a hotel room afterwards.

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To sum up

Travelling still remains a problem. However, blockchain and artificial intelligence combined together promise a solution. When this system is decentralized, various entities and companies that are part of the travel industry will be able to exchange and share data easily on the blockchain. This would make things easier, more efficient and secure.

Smart, AI-based technologies would improve the overall user experience and cut down expenses. If these two technologies put together can change the travel industry for the better, they will probably revolutionize other areas as well.

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Thomas Hughes

SEC Fined EtherDelta Founder. What Does This Mean For All ERC-20 Tokens Securities?

SEC fined Zachary Coburn (founder of EtherDelta) $388,000 US Dollars for operating an unregistered securities exchange
SEC Fined EtherDelta Founder. What Does This Mean For All ERC-20 Tokens Securities?

EtherDelta is a well-known Decentralized Exchange (DEX) and the trading platform for hundreds of ERC-20 tokens issued via ICOs. The US Securities and Exchange Commission (SEC) fined Zachary Coburn (founder of EtherDelta) $388,000 US Dollars for operating an unregistered securities exchange. As a result, the trading volume on the platform dropped substantially to just $250,000 per day (previously in the millions).

This SEC ruling raises the question of whether all Ethereum-based tokens are considered securities by the Commission. What about other crypto coins? How will this affect other decentralized exchanges? Will it somehow affect Ethereum’s price? It is most likely that ERC-20 tokens will be classified according to a set of rules: some will be securities, and some will be commodities. The fine against EtherDelta is due to a non-registered exchange.

Charts at a Glance

image

ETH/USD is still up 5.93% for the last 7 days, but it has been retracing lower after hitting the high at $223. The next logical destination is the confluence zone created by the bullish trend line seen on chart and the horizontal support at $205 but from there, we expect bullish price action to resume.

A break of the mentioned zone would create a lower low, would show increased bearish pressure, and would be a clear sign that further downside will follow. It must be noted that the 200 mark is in close vicinity, and this will act as a strong psychological support. In other words, the path of least resistance is North.

Support zone: $200 – $205 zone and the bullish trend line

Resistance zone: $223

Most likely scenario: bounce at support and move through $223 (during several days probably)

Alternate scenario: break of support zone and extended downside movement

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Cryptotips George Shnurenko

Bitcoin vs. Gold: Which is a Better Long-Term Investment Opportunity

💡 Cryptotips
Do you want to touch and admire your assets? The choice is yours.
Bitcoin vs. Gold: Which is a Better Long-Term Investment Opportunity
Contents

In 700 BC, the Lydian merchants saw how gold could be used to make coins. This brought about heavy investment in gold and its value soared. To date, gold remains one of the most valued substances and it has enjoyed widespread adoption due to its aesthetics and other features.

Bitcoin, on the other hand, is one asset which is not tangible. It cannot be held or seen physically and it only appears on a computer screen. Even though it has only been around for less than a decade, Bitcoin has enjoyed a significant amount of exposure and acceptance.

Similarities between Bitcoin and gold

  1. Bitcoin and gold are both safe assets. Although the period of use differs widely, they both serve the same purpose.

  2. Also, they are both speculative. The value of Bitcoin and gold are not determined by external factors like the earnings or the interest to be paid. The values are very complicated to compute.

  3. They are both very similar in terms of value exchange. You can get different grades of gold, you can get different measurements of gold, and you can also exchange gold for an actual currency. All these can also be done with Bitcoin.

Bitcoin vs. Gold

The fundamental difference is that Bitcoin is digital while gold is physical. Gold is a metal which can be gauged and admired while this does not apply to Bitcoin.

There’s a limit to the amount of Bitcoin which can be in circulation. This figure is capped at 21 mln, although we have mined almost 17 mln at present. For gold, we cannot ascertain how much of this metal is still available. In fact, researchers are working on a way to mine metals from space. This means that gold will still be created for years to come.

The tenure of both assets can also be factored in. Gold has been available for over 3,000 years, Bitcoin was first mined in 2009.

Finally, gold is widely accepted as a commodity. Bitcoin, on the other hand, eludes description.

We can only have a more objective approach to this comparison if we consider some important factors. These factors are discussed below.

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Gold or Bitcoin- which currency is prone to inflation?

The supply level of Bitcoin is kept steady and immutable. The implication of this is that there’s no possibility of any inflation which might arise as a result of overproduction of Bitcoin. This is, however, one problem with gold, albeit not prominent.

Gold’s supply rate has increased by about two percent yearly for 100 years now. Although this is not enough increase to cause worry, it cannot be compared to Bitcoin. Asking the question whether to invest in Bitcoin or gold, Bitcoin’s infrastructure makes it prone to inflation as a result of excessive supply.

How long has Bitcoin and gold been in circulation?

Gold has been around for several years and this gives it the advantage of trust and reliability. Many people are of the opinion that any new tech innovation might easily displace Bitcoin as the ultimate cryptocurrency. There are also fears concerning the regulation of the government. Bitcoin is not regulated and if something isn’t done soon, it might be ruled against.

Gold has been around for at least three millennia. Bitcoin has not celebrated its 10th birthday. Who will you be more willing to trust? Also, gold has lasted through the thick and thin. Also, it is important to note that gold is not internet-controlled and cannot just be shut down by the government.

The elemental value of gold

Gold is an element that is immune to any form of tech disruption. It is an ingrained part of our societal values and cannot be eroded easily. In the comparison of Bitcoin and gold, Bitcoin has an advantage in this area. If Bitcoin is able to attract new users and ensure that the existing users are satisfied with the service, this might prove beneficial.

Are gold and Bitcoin complementary?

The question so far has been Bitcoin vs. gold, however, readjusting our lens to focus on Bitcoin and gold might just help our case. Can they both work together? Is Bitcoin out to unseat gold as the universal means of storing of value? A better question might even be to ask if Bitcoin is able to replace gold.

Consider the fact that we are shifting to a digital age where the Internet is a primary means of carrying out daily operations. There are serious issues to address before you consider investing in gold.

The points are well presented, evidence, both compelling and dismissible, has been considered, we can only propose some reasons to choose one over the other.

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Reasons to choose Bitcoin over gold

1. Bitcoin eliminates middlemen

With gold, you have to consult with dealers who probably consulted with dealers who also traded with dealers. This increases the price and makes you pay for what is not seemingly fair. However, with Bitcoin, there’s no human involved. Just smart contracts and automated operations.

2. Bitcoin is divisible

You can get a billionth of a Bitcoin just for the sake of purchasing Bitcoin. Can you get a hundredth of an ounce of gold? Maybe. Is the stress of getting this value worth it? Definitely not!

Reasons to choose gold over Bitcoin

1. Gold is easier to understand

Bitcoin is a concept which is not easily accessible to all. Even learned folks might still need to pick up books, settle down and seek professional help. With gold, you can start investing in days.

2. There’s no Internet fraud with gold

Phishing and cybercrime are prevalent issues with cryptocurrencies which are not experienced with good old gold.

Conclusion

Ultimately, it depends on you to make whichever decision you want to. Are you able to take risks? Do you want a more secure investment? Are you willing to diversify? Do you want to touch and admire your assets? The choice is yours.

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Cryptotips
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🕵️‍ ICO Watch Eric Eissler

Legally Binding? Redditors Doubt Agrello’s Credentials: Past-ICO Review

👁 ICO Watch
Digital IDs are here and so are digital contracts, but who recognizes them?
Legally Binding? Redditors Doubt Agrello’s Credentials: Past-ICO Review
Contents

In a one-month ICO sale from July 17 to Aug. 18, 2017 Agrello was able to raise $30 mln in funding to support its efforts in making a smart contract that are legally binding supported by AI. However, a fast-sinking token price tells a different story.

In the red, but not yet dead

We already know that Agrello raised $30 mln in the ICO. However, when we examine the token price from start to current, we see a disturbing downwards trend that is not a promising sign for potential investors.

Agrello’s token DLT entered the market at $0.47 on Sept. 9, 2017 and has since fallen to $0.08, an 80 percent crash, as of the time of writing. The marketcap is only at $6 mln, an 80 percent difference from what was raised initially. Where did that money go? The company is rated 491 on CoinMarketCap, and steadily falling.

Really legally binding? In which jurisdiction?

It’s funny, when companies come out saying they will do this and they will do that, and then they don’t or they just push back deadlines and give themselves more time to come up with more excuses as to how to delay the inevitable.

Legally binding or not, I don’t believe it has been said that “computer code” can count as a legally binding contract. Most judges would want to see a paper contract signed between both parties. Agrello offers digital identity services and the ability to sign its contracts with the click of a button. It highlights rental leases as a one click to confirm.

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No redirect?

Another funny thing is when you create a new website, you should have your old address redirect to the new one, but Agrello, does not have such a redirect built in. Instead, it goes to the old website and askes the visitor to click on the link to go to the new site. It is a bit odd to that. What if the visitor decides not to visit the new site and instead stay on the old site? Will he/she be misinformed?

While the website claims that Agrello smart contracts are certified in more than 200 countries, last time I checked there are only 195 officially recognized countries in the world, and they are only hoping to have 100 registered partners by 2019, which is quite low in such a long amount of time.

It could be that competition will prove to be a challenge in the coming years are more and more companies get into digital identity which is verifiable through blockchain technology.

Updates?

According to Agrello’s official blog, the latest update about their service was on May 3, 2018, which gave a sneak peak of the digital ID and signature process. But looking back at the roadmap, the ID should have already been created last year.

A quip from the blog reads, “As you know, online identification is a time-consuming process and we aim to solve this problem. But for that, digital ID is needed.”

It may be time-consuming but there has not been any update since May.

If you check out Reddit, the Redditors are rather skeptical of the project and are unsure if it can really be done, or if they are just buying more time.

The blog is not that active and of the posts that are there, they are not really focused on development of product and services.

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Wikicoin Alex Morris

10 Best Cryptocurrency Mobile Wallet 2018 For Android and iOS

📚 Wikicoin
This article reviews and compares 10 best mobile wallets on the crypto market in 2018
10 Best Cryptocurrency Mobile Wallet 2018 For Android and iOS
Contents

While there are numerous types of crypto storage solutions, a mobile wallet, most probably, is the most attractive option due to its simplicity and convenience. All you have to do is to download an application of your choice and go through a quick registration process. In this article, we will determine the best mobile Bitcoin wallet for Android and iOS according to the following major criteria:

Disclaimer! 

Despite all the advantages, it is not advisable to use mobile wallets if you have a large amount of crypto holdings, since your money may be compromised in case of a hacking attack. Serious investors should consider buying hardware wallets or printing a paper wallet for an additional layer of security.
 

Electrum


One of the best offering on the market is, undoubtedly, Electrum Wallet which is characterized by robust security, flawless reputation, speed and convenience. While being considered the founding father of crypto wallets, Electrum wallet has mobile apps for most popular operating systems. 
 

Bitcoin Wallet


Bitcoin wallet is a super-simple solution for beginners who only make their first steps in to the crypto world. You do not even have to create an account to use this P2P wallet. This is a Bitcoin-only mobile wallet which may be underwhelming for those who want to diversify their portfolio with numerous altcoins. Nevertheless, this is the oldest mobile wallet on the market which still has plenty to offer (including NFC support, offline payments, etc.).

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Such a user-friendly approach always seems to undermine security. Basically, any person who got access to your private keys can use your wallet. Furthermore, there is no clear backup solution if your device is lost.
 

Jaxx


Jaxx is a crypto wallet which is available both for Android and iOS. Apart from these mobile versions, Jaxx also has a Google Chrome extension. The wallet appeared on the market four years ago and was designed by one of Ethereum’s co-founders. As of now, Jaxx supports almost 70 altcoins. It has a very beginner-friendly interface which is why Jaxx is especially popular with inexperienced traders.

There is a flat fee applied to every transaction which depends on the particular cryptocurrency. Jaxx doesn’t charge you anything, since all transaction fees are deposited directly to the network. There have been some complaints about Jaxx’s security bugs.
 

image

Coinomi Wallet


Coinomi Wallet is a perfect choice for those users who want to store multiple coins at the same time – is support a whopping number of assets (110+ cryptocurrencies). Being founded in 2015, Coinmoni was already one of the best Android Bitcoin wallets in 2011 is characterized by superb security (wallet encryption, complete anonymity one-time back up), so it might be the best Bitcoin wallet (Android and iOS). The app is free– you only pay to miners. It also features its own exchange, but there were some negative reports related to this exchange.
 

image

Airbitz


Airbitz is the youngest wallet in this top ten, but it is already a contender to be named the best Bitcoin mobile wallet in 2017 and 2018. This app swiftly gained recognition because of its high-level security and a strong emphasis on privacy. Only users have access to their transaction which is not disclosed either to Airbitz or to a third party. Similarly to other exchanges, doesn’t set any fees– you are only getting charged by the Bitcoin network. As you might have already guessed, this wallet doesn’t support any cryptocurrencies apart from BTC, so altcoin fans will have to look for another storing solution.
 

image

GreenAddress


Just like Airbitz, GreenAddress is one of the best mobile Bitcoin wallets which cares about your privacy by making you the only private keys holder, enables 2FA and supports SPV validation. On top of that, it offers multisignature addressed as an additional security measure.
 

Mycelium


Mycelium is a mobile application for storing crypto which features a large number of tools that may seem a bit underwhelming for beginners. Is Mycelium the best Bitcoin wallet for Android? This project exists since 2008, and there is currently a large number of developers behind this app which constantly come up with new innovations. This Bitcoin-only wallet utilizes Bit ID protocol and requires you to set a PIN for buying/selling BTC in the future. It is worth mentioning that Mycelium also offers support for the aforementioned hardware wallets. When it comes to fees, the app itself is free to use, but you will have to pay miner’s commission.
 

Infinito Wallet


Infinito Wallet is a multi-asset solution which is available for numerous platform. It supports almost any altcoins that you can think of along with all the major cryptocurrencies which is already enough to make it one of the best Bitcoin Android wallets. This universal wallet, while offering flexible storage mechanisms, is also characterized by high level of security (the wallet doesn’t keep any of your transaction data) and excellent customer support. The only ounce of criticism may be directed at its lack of 2FA which may be a big drawback for those who are extra cautious about the safety of their funds.
 

Bither


Bither is a unique option since this app simultaneously has two mods. While Bither cold wallet serves as a backup, you can use an online hot wallet that features encrypted private keys and so-called ‘watch only’ addressed. Similarly to the aforementioned Bitcoin wallet, there is no need to create an account in order to start performing transactions. Bither also allows its users to prices from biggest exchange platforms.

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Freewallet


This is an open-source application designed in Estonia that supports the following currencies:

 

  • BTC

  • ETH

  • DOGE

  • LSK

  • XMR.

 

This app requires your phone number and email address which will help to easily restore access to your funds in case of an emergency. Unlike the majority of the aforementioned wallets, it actually retains customer’s customer private keys which may come to a major safety issue.
 

 

Coinbase


Finally, here’s the official app of the leading US-based fiat-to-crypto which we’ve been saving for last. Coinbase wallet is extremely easy to use, but at the same time, its many powerful instruments, for investors (multisig, time-delayed payments and so on).

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It allows you to use an offline storage if large sums of money are involved. In all fairness, Coinbase is the best mobile crypto wallet out there which can be proven by the fact that it has the highest rating on Play Market (see the table below) with more than 140,000 reviews. It also ranks best with the users. However, the app was subjected to criticism by some users who reported that the wallet may track its users spending habits.
 

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Mobile Wallet

Google Play Rating 

Electrum

3.2

Bitcoin Wallet 

4

Jaxx

3

Coinomi

4

Airbitz

4.2

GreenAddress

3.5

Mycelium

4

Infinito Wallet

4

Bither

4.1

Freewallet

3.5

Coinbase

4.3

Wikicoin
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