Bitcoin mining fees have skyrocketed this year, increasing by 557% from 14 to 78 satoshis per byte, which translates to an eye-watering 1,013% increase in dollar terms in just one year, according to research by Jameson Lopp, engineer at BitGo.
Now you may think this is nothing to worry about but what is happening is that transactions in bitcoin are taking much more time to complete. There is also a growing danger that larger mining pools based in the likes of China will be able to take control of mining and control of what is meant to be a decentralised system.
Perhaps the future lies in the hands of a new blockchain and a cryptocoin that does not need mining and can process transaction in a second.
Are you interested to join a brave new world, if so you are just in time to join an Initial Coin Offering (ICO) cloud funding project which is about to close.
MyCryptoWorld, has a lucrative offer at the moment which is going to be explained TODAY
Cryptocurrencies are digital gold. Sound money that is secure from political influence. Money that promises to preserve and increase its value over time. Cryptocurrencies are also a fast and comfortable means of payment with a worldwide scope, and they are private and anonymous enough to serve as a means of payment for black markets and any other outlawed economic activity.
But while cryptocurrencies are more used for payment, its use as a means of speculations and a store of value dwarfs the payment aspects. Cryptocurrencies gave birth to an incredibly dynamic, fast growing market for investors and speculators. Exchanges like Kraken or Shapeshift which is one of the easiest to change from one cryptocoin to another, enables the trade of hundreds of cryptocurrencies. Their daily trade volume exceeds that of major European stock exchanges.
In this rich ecosystem of coins and tokens, you can experience extreme volatility. It‘s common that a coin gains 10 percent a day – sometimes 100 percent – just to loose the same at the next day. If you are lucky, your coin‘s value grows up to 1000 percent in one or two weeks.
Are you interested to join a brave new world, if so you are just in time to join an Initial Coin Offering (ICO) cloud funding project which is about to close.
MyCryptoWorld, has a lucrative offer at the moment which is going to be explained TODAY
I have purchased a few bitcoins from a couple of different sources, unfortunately the easiest one to use Circle no longer allows purchase or sales. I have discovered the best prices to be on the exchanges and it can be a little daunting. I traded currencies in the distant past and you can quickly lose your money.
Now if you are looking for a bargain you can place a limit order where you specify the maximum amount you are prepared to to purchase say for example I BT @£622 . If you use Kraken you will see the last traded rate and the max and min for the past 24 hours. At the moment with the bitcoin rising in value I will buy at minimum. If you do not put a limit on you order will be filled at the market rate. A limit order will remain open until the market reaches the level you set
One think I did notice is that any numbers of traders will help fill the order
03-12-16 09:10:24 +0000
buy/limit
XBT/GBP
£613.000
1.55366297
£952.395
T3BIOXW
03-12-16 09:09:03 +0000
buy/limit
XBT/GBP
£613.000
2.00000000
£1,226.000
TLW713
03-12-16 09:06:24 +0000
buy/limit
XBT/GBP
£613.000
0.00410000
£2.513
TKO45Y
03-12-16 07:46:59 +0000
buy/limit
XBT/GBP
£613.000
0.04330000
£26.542
TIQEls
03-12-16 07:44:47 +0000
buy/limit
XBT/GBP
£613.000
0.04550000
£27.891
TLZGP7
03-12-16 07:26:56 +0000
buy/limit
XBT/GBP
£613.000
0.04780000
£29.301
TAKDNA4
03-12-16 07:17:23 +0000
buy/limit
XBT/GBP
£613.000
0.01540000
£9.440
T74KP2
03-12-16 07:10:13 +0000
buy/limit
XBT/GBP
£613.000
0.05030000
£30.833
TJTGpQ7
03-12-16 07:07:39 +0000
buy/limit
XBT/GBP
£613.000
0.10640000
£65.223
TTLEKZ
03-12-16 07:00:13 +0000
buy/limit
XBT/GBP
£613.000
0.02030000
£12.443
TVWKAGK
03-12-16 06:55:21 +0000
buy/limit
XBT/GBP
£613.000
0.15060000
£92.317
TJ7MAI
03-12-16 06:55:05 +0000
buy/limit
XBT/GBP
£613.000
0.02580576
£15.8
If all the above sound to difficult you could go to a site such CoinCorner who are based in the IOM they will accept debit cards or bank transfer but the rate they offer is £703 compared to Kraken high for the day at £639 which to me is too costly, the reason being they have affiliates to pay.
Another site in the UK I might consider is https://bitbargain.co.uk/ Here you will find private traders will to sell on set terms using escrow accounts for buyers and seller rates currently offered @ £644
It looks easy to use but trader terms will include identity checks or proof of previous trading. but at the moment it would be my my first option for small amounts at Kraken involves International Bank transfer cost.
Now you may ask why I am buying bitcoin at the moment, well it is increasing in value so could be a good investment. However I need them to crowdfund an ICO from MyCryptoWorld, which has a lucrative offer at the moment which is going to be explained on Friday. The ICO closes on 31st December by which time all tokens have to be paid up in bitcoin.
Small to medium amounts: We recommend you use a wallet on one of your existing devices where only you can access your funds. Please see our guide for opening a Bitcoin Wallet.


Large amounts: For even more security, we recommend buying a dedicated device, for instance a smartphone, that you use only for storing Bitcoin. You will keep the device offline at all times except when you use it for transferring Bitcoin.
2 - Can virtual currencies be abused for criminal purposes?
Like any currency or technology, Bitcoin can be used for illicit transactions.
However, quantitative studies indicate that the extent to which virtual currencies have been used for illicit purposes is no greater than for national currencies.
Lightspeed Venture Partners estimate that 0.5% of all Bitcoin transactions are used for trading illicit drugs. On the other hand, the United Nations estimate that the illegal drug trade constitutes 0.9% of world GDP. While these two numbers are not directly comparable, there does not seem to be any reason to suspect that virtual currencies are used for illicit purposes any more than traditional currencies.
Furthermore, the anonymity aspects of Bitcoin have been greatly exaggerated by the media. While the Bitcoin system itself does not directly identify its users, every transaction that has ever occurred in Bitcoin is stored and logged forever in the publicly accessible Bitcoin blockchain. Whenever bitcoins are used for purchasing goods or services or exchanged to national currency, the store or exchange provider can identify the customer.
3 - Bitcoins were sent to a wrong or inactive address. Can you send them back to me?
Unfortunately, we are not able to do this. Bitcoin transactions are irreversible.
This is why it is very important that you double check the address you are receiving Bitcoins to and make absolutely sure that it is the right one! The reason for this is that the owner of a Bitcoin wallet is the only one with control over it and being authorised to perform any actions with it.
Contrary to credit cards, Bitcoins can be sent only when using the private key of a wallet owner. Private keys are not public and hence not accessible to us.
In case you have had Bitcoins sent to a wrong address, you have to personally contact the wallet owner in question and ask him to send you back the Bitcoins received by mistake. As there is no directory of owners of wallets, the most common way to contact an owner, is to send a micropayment with a message.
4 - Can a vendor take funds from my wallet without my consent ?
It is not possible for a vendor to withdraw bitcoins unauthorised from you as only you are in control of your own wallet.
Unlike credit cards, which can be processed once the vendor has the card details, bitcoins can only be sent using the private key of the wallet holder.
Private keys are not public and thus not accessible for a Vendor to misuse at a later stage, once the payment has been accepted from a customer.
5 - Can I be sure that I can use Bitcoin in the future or exchange it back to national currency?
No currency can provide an ultimate guarantee that it will keep its value forever.
The security and value of national currencies depend on sensible decisions made by the leaders of central banks and the politicians who elected them.
Similar to gold, there is no company or central bank issuing Bitcoin or regulating its exchange rate. The monetary policy of Bitcoin is instead regulated by open source software and mathematics. This means that the supply of Bitcoin can be accurately predicted 10, 50 and even 100 years ahead.
Bitcoin is still young and what role it will play in the world economy in the future is yet to be discovered.
The number of merchants accepting Bitcoin payments can both increase and decrease significantly, and there are currently no “legal tender” laws requiring merchants to accept Bitcoin as payment. Accepting Bitcoin as a method of payment is completely voluntary.
In the same manner, the Bitcoin exchange rate compared to euros or dollars may also increase or decrease significantly as the price of Bitcoin is determined solely by supply and demand on exchanges - like the price of gold increases or decreases based solely on supply and demand.
NEW CryptoCurrency & Bitcoin 2.0
MYCRYPTOCOIN•BITCOIN 2.0
MCC is going public (ICO) on 10th of January 2017
Until 31th - Dec - 2016 you can adquire Pre-ICO MCC
Crytocurrency was boosted As Key Figure Joins Bitcoin Startup
ForexNewsNow | Published on December 13, 2016 at 2:00 am
A key figure in the mainstream financial services sector is backing Bitcoin, a move that is now seen as another crucial seal of approval for the cryptocurrency world. Antony Jenkins, a former CEO of Barclays (BCS), has joined the board of Blockchain, a startup that provides bitcoin and digital currency technologies.
The startup, based in London, is named after the core technology on which bitcoin and most other digital currencies are built. Blockchain’s services and solutions are used by cryptocurrency exchanges such as Coinbase. Investors can also use Blockchain’s native mobile app and website to trade digital currencies. The startup is further working on a number of other technologies, some revolving around identity tracking.
Blockchain is betting on widespread adoption of cryptocurrencies, especially as they are now seen as an alternative to traditional safe-haven assets such as gold. Uptake of Bitcoin and other digital currencies soared in the lead up to and after the U.S. presidential election last month. Investors worried about the outcome of the election and its potential implication on global economies given that the Republican candidate Donald Trump’s inflammatory remarks on the campaign trails. In Mexico, demand for Bitcoin has spiked since the surprise election of Trump as the next president of the U.S.
Bitcoin prices and market capitalization have soared in the recent times amid a strong demand for digital currencies. Source: Coinmarketcap.
Monetary regulators studying cryptocurrencies
Besides growing acceptance of Bitcoin and other cryptocurrencies or altcoins by consumers, central banks are also taking notice of the digital currency phenomenon. Some monetary regulators have even expressed interesting in minting their own digital currencies to replace the legacy banknotes and coins. Central banks in Sweden, the U.K., China, and Russia are some of the monetary agencies studying blockchain technology in what could pave the way to the modernization of monetary systems in these economies.
The central bank in Sweden, for instance, may move quickly to introduce digital currency given a sharp drop in hard cash transactions in the country.
A storm brewing for banks
As for Jenkins who has taken up a seat on the board of Blockchain, he believes a major storm is brewing for traditional banking industry amid a rise of fintech firms. He compares the disruption the banks would face to the shakeup Uber is causing in the taxi services industry.
A signal of growing adoption of cryptocurrencies, Blockchain’s co-founder Peter Smith recently said the startup is on track to do transactions worth $50 billion this year. The startup is particularly seeing strong demand for its services from institutions, which it expects to contribute a third of its transaction value.
Blockchain’s initial fundraiser netted $30 million in 2014. The startup is backed by several investors, including Lightspeed Venture Partners’ Jeremy Liew. On the board of Blockchain, Jenkins joins Liew and the startup’s cofounders Nick Cary and Peter Smith among others.
Besides Blockchain, Jenkins is also associated with several other fintech startups including 10X Future Technologies and Currencies Direct.
Jenkins becomes the latest of former major bank leaders to join startups working on shaking the foundations of traditional banks – their earlier employers. Anshu Jain, a former CEO of Deutsche Bank, is joining Social Finance, an online lending firm, and John Mack, a former executive of Morgan Stanley, joined LendingClub.
Banks see opportunities and threat in the rise of cryptocurrencies. The opportunities include tapping on blockchain technology to simply transactions and cut operating. But banks are worried they could lose their middleman role in money distribution if regulators adopt a system that allows citizens to open accounts with the central directly.
A new paradigm begins January 10, 2017. That is the Inital Coin Offering (ICO) by MyCryptoworld.com. The coin will be known as MCC (MyCryptoCoin). It is going to change the way currency in exchanged around to world. Pre-enrollment ends December 31, 2016. You can get more information here.
The Bitcoin Network is the first successful implementation of blockchain technology.
The term "blockchain technology" typically refers to the transparent, trustless, publicly accessible ledger that allows us to securely transfer the ownership of units of value using public key encryption and proof of work methods.
The technology uses decentralized consensus to maintain the network, which means it is not centrally controlled by a bank, corporation, or government. In fact, the larger the network grows and becomes increasingly decentralized, the more secure it becomes.
The potential for blockchain technology is not limited to bitcoin. As such, it has gained a lot of attention in a variety of industries including: financial services, charities and nonprofits, the arts, and e-commerce.
BLOCKCHAIN (technology) is the new standard for FINANCIAL Transparency:
Bitcoin can often refer to two things. First, the Bitcoin network that keeps track of our transactions and balances, and second, the currency that we use as the unit of value when we transact. We"ll cover both here ..
The Bitcoin Network
Bitcoin"s payment network (also called the bitcoin blockchain) is what makes it possible for us to transact with one another. The network uses distributed consensus to verify and confirm transactions, and consensus is reached via a large global network of high-performance computers (called miners) running the bitcoin software.
Whenever someone sends a transaction it is broadcast instantly to the network and verified by the miners. Miners are constantly working to confirm individual transactions and include them in the next block of transactions in the chain. Once a new block is verified, all the transactions within it are permanently recorded on the blockchain. Rewards are paid out in bitcoin to miners who confirm transactions and verify the next block as a way to incentivize productivity on the network.
Each party who participates in the mining process has an identical up-to-date copy of the blockchain or public ledger, which is a record of all the transactions in bitcoin history. Each party"s copy of the ledger is updated every time a new block is found.
The Currency
The unit of value that we send and receive on the Bitcoin network is also referred to as bitcoin, or bitcoins. Bitcoin is completely digital, meaning we can"t physically hold it in our hand. It"s also portable, divisible, fungible, and irreversible.
NEW CryptoCurrency & Bitcoin 2.0
MYCRYPTOCOIN•BITCOIN 2.0
MCC is going public (ICO) on 10th of January 2017
Until 31th - Dec - 2016 you can adquire Pre-ICO MCC
