Connect with us

News

How can the number of BTC on the market be more than 21 million (maximum emission)?

Published

on

It is now believed that the maximum amount of Bitcoin (BTC) offers will be 21 million coins. Of this amount, nearly 18 million BTC have already been mined. However, there is an opinion that the offer of bitcoin in the future may exceed this figure.

Cryptosphere expert Eric Wall stresses that right now nothing is stopping BTC owners from expanding their offer.

For example, the banking sector is being built on this principle. Financial institutions, under the supervision of regulators, transfer their assets to third parties for management. However, in fact, banks continue to control the assets transferred by them. A similar mechanism can be launched in the cryptosphere, the expert said.

Currently, most BTC holders prefer to store their coins in wallets . But already many cryptocurrency platforms offer services for the safe storage of bitcoins.

Coinbase and Bakkt cryptocurrency exchanges have already done so . They gain access to the management of the cryptocurrency under their storage. That is, in fact, they trade bitcoin on behalf of their customers.

This use of BTC is reminiscent of transactions with bills secured by gold deposited in a bank vault.

However, many representatives of the cryptosphere strongly oppose the use of this scheme in relation to bitcoin. In their opinion, any form of such reservation undermines the very principle of the cryptocurrency industry. Initially, Bitcoin was created so that only the holder himself would use it without any intermediaries.

Given the growing attractiveness of digital currency, many crypto exchanges will begin to inflate the actual offer of BTC. Now exchanges process transactions with approximately 1.5 million bitcoins daily, this is only a small fraction of the total coin supply. OTC transactions are much more difficult to evaluate.

Bitcoin's capitalization exceeds $ 144 billion, and the amount of transactions with BTC can reach $ 4 billion per day. However, some coins never moved at all, presumably they were mined by Satoshi Nakamoto himself, the legendary creator of the first cryptocurrency.

Part of the coins was lost forever, as their customers lost the keys to their wallets. Some bitcoins just mined are held by miners to be sold on the OTC market.

So far no one has tried to issue “bills” for the right to possess such coins, but it cannot be guaranteed that such cases will not occur in the future.

Publication date 10/07/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading
Advertisement

News

Institutionals bet on bitcoin growth, positions on BTC futures doubled

Published

on

One of the indicators that signal a possible change in the price of bitcoin is the number of open futures positions on the Chicago SME exchange.

In October 2019, institutional investors doubled the cost of long positions in BTC futures contracts , the Cointelegraph reports.

Institutional Investors Interested in BTC

According to a study conducted by analysts on October 22, the estimated value of the long positions of institutional investors rose to a value above 1000 bitcoins, compared with data on October 1, when this value fell below 500 BTC.

Data on long-term futures on the CME exchange indicate a turning point in the downward interest of the institutional, outlined in September 2019. The sharp collapse coincided with the launch date of physically delivered bitcoin futures from the Bakkt platform , when interest fell from 1300 VTC to below 500 bitcoins.

Analysts at Skew Markets have additionally indicated that institutional investors include:

"… pension funds, insurance companies, mutual funds and investment portfolio managers."

Such analytical data may indicate the continuing desire of large investors to enter the cryptocurrency market.

Recall, the head of CFTC believes that next year, the market may begin to trade futures on Ethereum (ETH) . He also noted that in addition to Bitcoin and Ethereum, other cryptocurrencies can also be classified as goods.

Publication date 10/23/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading

News

Tim Draper believes that Ripple coin is preparing for a sharp increase in

Published

on

The investor, Bitcoin bull Tim Draper, believes that the current situation in the Ripple market can be called the “calm before the storm” – in his opinion, in the near future, the XRP rate may suffer explosive growth.

During his communication with the participants of the crypto market at the Quora forum, Draper noted that, given the three-fold increase in the Bitcoin exchange rate over the past 5 months, it can be expected that the Ripple coin will also demonstrate similar behavior.

According to the investor, the price of XRP should have already increased to about $ 0.6 or $ 0.9, taking into account all the latest developments of the project and the conclusion of new partnerships. Draper drew attention to the fact that the project is constantly improving its technology for cross-border payments. Moreover, Ripple belongs to the largest SBI corporation, which includes such a serious company as R3. So, according to the investor, everything indicates that now there is only a “calm before the storm”, that is, a calm before the explosive increase in the value of the coin.

Meanwhile, Ripple is developing further. On the eve it became known about the intention of the project to expand its presence in Washington. Brad Garlinhouse, CEO of Ripple, noted that this step will allow the company to be closer to regulators, to train them on the principle of operation of blockchain technology and cryptocurrencies.

Continue Reading

News

Opera became the first browser in which the built-in bitcoin-wallet

Published

on

appeared

Opera web browser developers have added support for TRON bitcoin payments and cryptocurrencies to their application for Android devices, CoinDesk writes.

From now on, Opera users will be able to make payments in Bitcoin (BTC) directly from the digital wallet built into the application and interact with decentralized applications on the TRON network. According to the company, these features can help attract new holders to its cryptocurrencies from its database of 300 million users.

“Most people heard about Bitcoin, and we decided to add its support, as well as introduce a wider group of users to this function ,” said Charles Hamel, head of cryptocurrency business at Opera.

In July 2018, an Ethereum wallet was added to the Opera app for Android. The company explained this decision by its desire to contribute to the development of Web 3.0 and implement the vision of creating a decentralized Internet of the future on the blockchain. Later, the release of a cryptocurrency- oriented browser for iOS and a desktop version with support for a digital wallet took place.

Hamel claims that Opera applications are already optimized for working with Web 3.0, however, the integration of bitcoin required additional resources due to the differences of the first cryptocurrency.

“Bitcoin is a completely different phenomenon, which requires its own infrastructure and has a payment-oriented application scenario,” he added.

Publication date 10/23/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading
Advertisement

Name Price24H (%)
Bitcoin (BTC)
$7,472.05
-8.80%
Ethereum (ETH)
$158.80
-7.76%
XRP (XRP)
$0.271679
-7.33%
Bitcoin Cash (BCH)
$208.22
-8.93%
EOS (EOS)
$2.73
-6.83%
Stellar (XLM)
$0.059796
-6.00%
Litecoin (LTC)
$49.03
-9.60%
Cardano (ADA)
$0.036419
-7.48%
Tether (USDT)
$1.00
-0.14%
Monero (XMR)
$53.37
-8.03%
Advertisement

Trending

Copyright © 2018 blockchainjournal.news