Bitcoin, Cryptocurrency, Blockchain Past Week Happenings.
Bitcoin rally this week fails to materialize as New York conference brings more hype than substance
- Bitcoin dropped about 10 percent this week despite calls that it would rally on the back of major blockchain conference held in New York City.
- Last year, bitcoin rallied 69 percent during the Consensus conference, according to Fundstrat.
- "Many repeat attendees commented that the panels felt more like commercials than substantive discussions, which was not the case last year," says Fundstrat digital currency analyst Alex Kern.
My Thoughts: Not quite the reaction anticipated, price went up prior to the conference, then fell back. Previous years this conference created excitement, boosting cryptocurrencies along with blockchain technology.
Enthusiasts eagerly awaited discussions, as in previous years, many left feeling discussion had not taken place. Conference numbers tripled in attendees, opportunities such as this should be used wisely to guide technology, not stagnate into old school commercial ideas.
Crypto investor in dilemma to hold or sell Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH] or Ripple [XRP]
Ran Neu-Ner is the founder and CEO of ‘The Creative Counsel’ and the host of CNBC Africa’s show on Digital currencies ‘Crypto Trader’. Ran offered a few tips to America’s post-market show called “Fast Money” on Thursday. He has been trading in cryptocurrencies for a long time now; as he talks about how a few years back everyone who did not understand the technology got into trading with digital currencies just to figure out why it got so popular, yet not mainstream.
The first solution was brought about by Bitcoin, a peer-to-peer digital currency that requires some sort of a database to make transactions possible. Ran believed Bitcoin to be a ‘store of value’ and that it all relies on the time and framework of each project.
As an investor, he likes Bitcoin very much but pointed out its low pricing issues. BTC values today at $8,137.77, at the time of writing. “It’s going to continue to go up, slowly and in a stable way,” he said. The interview talks about his dilemma to hold or sell BTC, BCH, ETH or XRP.
With Bitcoin Cash currently ranked at number 4 in the crypto-rankings and valued at $1,172.91, at the time of writing, has hopes of doubling upwards in a matter of months. The month of May has not served justice to these Cryptocurrencies, but, Ran sees the potential for Bitcoin Cash.
The investor claimed that, Ethereum ranking at number 2, has formed one of the biggest communities so far. The network is working towards solving not only the scalability issues but also create more transparency among the buyer and the seller.
My Thoughts Each to their own, research and spend only what you are able to afford.
Already invested into any of the larger cryptocurrencies, hold on to them or sell some off to invest into new projects. Each project does hold possibilies given time may grow.
Thinking back, it was astounding when Bitcoin soared more than 14 fold over the course of 2017 to reach a peak of more than $19k on December 16, 2017, giving it a total market value of $329 billion. Greater than the gross domestic product of South Africa or Ireland.
How to buy Bitcoin anonymously (well almost)
Buy Bitcoins in person
You can buy bitcoins in person at Bitcoin meetups, through the “marketplace” option of the Mycelium wallet (the marketplace exists on the Android version only), or by finding traders on the LocalBitcoins platform.
The best place to meet traders in person is in a busy but not crowded place that offers free Wi-Fi. Public libraries or cafes are great venues for these appointments.
Both parties should allow enough time to wait for at least one confirmation of the Bitcoin transaction. To make sure your Bitcoin transaction gets confirmed by the network, you don’t need to bring a Bitcoin wallet with you; just knowing your address is enough. Enter the address into the search field on Blockcypher or any other blockchain explorer and watch as the transaction comes in and confirms.
Get Bitcoin From an ATM
Bitcoin ATMs are common in some countries but rare in others. Check Coin ATM Radar to see if there’s one near you! Make sure to check the “other services” box in the bottom-left corner, or you might be missing out on some places where bitcoins are sold as vouchers.
Each machine differs in how it handles your personal information. Some might not ask for anything other than your Bitcoin address and cash, while others might want your phone number, fingerprint or passport. Just try the machine out with a small amount. Asking the machine’s operator can be tricky, because there’s a risk they might file a suspicious activity report.
If there is video surveillance at the Bitcoin ATM, you might not be able to hide from it. Even still, showing up at a Bitcoin ATM with a ski mask would make you look too suspicious, no matter how much you value your privacy.
Accept Bitcoins as a Payment or Donation
If you’re regularly spending bitcoins, it makes perfect sense to accept them as payment too as you will no longer need to worry about how to acquire them. The bitcoins you accept will not be anonymous either since there might be a record somewhere that they were paid to you, but they are likely already more difficult to link to you for a passive observer than the bitcoins you buy at an exchange, where records are kept in detail and made available to several parties.
My Thoughts If you are able to make private transactions, this will save when using to pay or purchase online using Bitcoin. Once you wish to convert to fiat, a local exchange is used, rendering all the above useless.
Cryptocurrency where you are able to remain private, get your message out....
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Quote for Today:
“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust” - John McAfee
I do not check prices often but it seems to fluctuate quite a bit and it seems to be going down pretty constantly, especially Steem. I'm a bit disheartened by this, especially when people tell me about the December 2017 highs. This was before I even considered getting involved and it seems farfetched next to my exposure the past 4 months.
The effect of the conference you mention here next to the previous conference's impact is not good news. I do hope the future looks better!
When bitcoin goes up normally a couple of other will move with it, a quick check daily to see more or less where you stand on the day - https://blockchain.info/
December 2017 was unusual with bankers, governments and everyone swarming onto Bitcoin. Media over-hyped the situation creating an illusion, sending people into frenzy buying (exactly the wrong time to buy). Safest is stay put learning, slowly growing in Superior Coin and Steem, when you feel ready, buy small amounts of BTC, ETH or similar and treat it like an investment asset.
If you have time/nerves to buy/sell in smaller crypto is always a good option to make a little extra @reonlouw
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Great post, Joan. Got involved with Bitcoin in December 2017 and following crypto has been an exciting adventure with so much to learn. Watching videos on the subject is the highlight of my day. Recently I have been watching the progress of EOS. The platform launches in June. I think this one is going to be huge.
Also have my eye on EOS another to consider is DBET once I like the idea on how a coin will be useful to the world, invest @capelight always a learning curve on the horizon with so many new coins coming into being.
Good advice Lady Joan, what I will do with it I don't know! Blessings and upvoted! Welcome back!
Charities around the world should all be on blockchain technology to accept/transfer funds at a way lower ratio than banks are charging. When bringing crypto down into fiat, charges are not exceptionally high here in South Africa.
Had a wonderful time out looking at our wildlife, fauna and flora will start sharing soon @papilloncharity
Impresionante articulo.
El futuro avanza inexorable. Quien la sigue la consigue. Buen trabajo y gracias por la valiosa información@xintoe
Gracias por visitarme, el traductor me ayuda a responder a mis amigos españoles @xinto
thank for bringing us news from the crypto world!
Glad you enjoyed it @gabriel.ncl
Your articles about Bitcoin and #cryptocurrencies helps me get updated and also support it more.
#Kryptonia as been helpful with steemit and i won't support less
Learning is Life, thanks for visiting @airsoftman
Good news roundup and I agree with many points. Especially with privacy being rendered useless as soon as you exit crypto. Even maintaining privacy within crypto is extremely hard, as it only requires one mistake to permanently expose your details! It's almost impossible to do anything with it and still remain private except when you use Monero and such.
Great to see more women in blockchain!
Privacy, not so sure anyone has much today, from banks, governments, insurances, online is not as private as we would love to think.
Interest in blockchain grabbed my attention a couple of years ago, outdated systems along with unfair practice in the white collared workers world, has gone one step too far @pandorasbox support this concept in more ways than one!
One of my steemit mentors ! Thanks Joan ! Another great post @joanstewart
Have a wonderful day @bernardtjames now to catch up and hear some of the lovely classical music posts I missed whilst away.
Thanks, Joan I always enjoy reading your crypto updates. Blessings!
Appreciate your visiting and comments @hope777
Bitcoin and the crypto world will become widely spread like wildfire in due time. For now, not all have known these things. Thank you for your post it gave me additional knowledge in crypto.
What is exciting is we are all learning together, it is bringing people from all parts of the world together working toward a fair future for all @rubelynmacion
Upvote.
Kryptonia @Hokkaido
Excellent and Informative
Your Kryptonian friend socialmediaseo
Great post, hope bitcoin goes up
Thanks for the info. Always good to read an abbridged version of things since so much is said and written about.@bon-nom
Good and solid info! Thanks!
Upvoted&resteemed
Kryptonia @nexit
nice. great post about crypto currencies really helped a lot
Impresionante articulo.
Thanks for the news about cryptoworld...
keep my eyes always open on Bitcoin <3
I'm getting ready to add some of my wallet addresses as a footer to my posts. I see other people do it so why not? I help people so maybe they might want to give me some coins!
Aside from visiting from our beloved Kryptonia, I'm also here - very off topic - to ask you to support my son and I in a contest for qurator.
Can you please go to this post I'm linking and NOT vote for
@bxlphabet
@fitinfun
And then please DO vote for any of the other contestant comments.
This is a non-popularity contest and my son and I want to lose.
The best of the other comments to vote for are those at the bottom besides us. It's the number of votes - not the value - that counts. Only qurator peeps can vote. The two losers with the least votes are really the winners.
You are also eligible for this contest. If you enter – I promise we will not vote for you either :)
My strategy will be to go vote for all of my rivals over time and then bug my friends to do the same each week. This type of lobbying is not frowned upon in the contest, but let me know if you do not want reminders.
It looks like qurator contests are going to be a thing now. They have good ones. my friend!
Qurator's Toss Up Thursday #7 - Free-for-all promotion competition
Sorry @fitinfun I missed this one by arriving late, closed 21st May. Please feel free to DM me or drop a note to remind me of the next one, I will try to remember this in future.
Good luck, having fun!