Tag: Bitcoin (BTC)

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Crypto News

XRP (XRP) Ledger Struggles To Become More Decentralized Than Bitcoin (BTC)

Many cryptocurrency community members have beaten the XRP Ledger since its genesis. From working with the regulators of Bitcoin (BTC) to being a dominant cryptocurrency under Proof-of-Work reign, XRP (XRP) has become an unusual proposition for both BTC maximalists and advocates of decentralization. The question is, it is the XRP (XRP) ledger decentralized?

First of all, there is a need to grasp the significance of decentralization. Also important to realize is that devolution cannot be gauged by an absolutive figure, but can be measured in a spectrum. A number of factors influence the level of decentralization.

Bitcoin employs the Work Of Proof as its consensus engine, by incentivizing the use of dedicated nodes to bundle transactions into blocks and append them to the established blockchain. These nodes are called miners and are compensated with Bitcoin (BTC) for the computing power and the electricity they employ for their work.

XRP (XRP) Ledger to become more decentralized than Bitcoin (BTC)

At present, the three major Bitcoin (BTC) mining platforms, two of them belonging to the same company, can be effectively managed to lock down the network.

The XRP (XRP) Ledger, however, employs an algorithm referred to as the Byzantine Consensus Algorithm. The approvers, who reach an arrangement, also called a “consensus,” agree on the whole range of transactions and order the transfers. That is carried out in accordance with deterministic guidelines, which are then accepted as the following ledger in the network.

By the very definition of the word, a network may not be regarded as decentralized if a single entity owns the majority of it. If a network is under the control of an individual or entity, then it turns into a supposedly centralized network.

Ripple Labs has concentrated on the XRP Ledger’s reliability and speed since its beginning and has been decentralizing the Ledger since late-2017. That is referred to as the XRP Ledger decentralization process.

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Crypto Markets News

Bitcoin (BTC) Is “Digital Gold” – VanEck’s Gabor Gurbacs Expect Gold Investors Move To BTC

Many times, Bitcoin (BTC) is matched with gold. Both BTC and gold are rare, valuable, and, as seen during the time, they both keep their value over time. But, as VanEck’s Gabor Gurbacs considers, Bitcoin (BTC) can triple its market cap in the case it’s conquering a part of the gold’s market share.

In the last years, since Bitcoin (BTC) “went to the Moon,” especially in December when it reached $20,000, many people and crypto enthusiasts compared BTC with gold. Both assets are valuable, but they’re very different. Gold is still the ideal asset to store value, while Bitcoin (BTC) is still facing high levels of volatility, as well as other issues.

VanEck’s Gabor Gurbacs goes bullish regarding Bitcoin (BTC)

Gabor Gurbacs considers that the things will recover for the leading cryptocurrency on the market, Bitcoin (BTC). According to him, investors in the precious metal will come to put money on the “digital gold” that is BTC. If that would happen, then the largest cryptocurrency by market cap will significantly benefit from this move.

However, since the beginning of the BTC surge, the Bitcoin (BTC) was a long-term investment asset such as gold. On the other hand, short-term prices fluctuations in the Bitcoin’s price are not at all critical in the long-term.

The gold’s market cap sums up approximately $7 trillion, while Bitcoin (BTC) records a market capitalization of about $130 billion.

Winning gold investors, Bitcoin (BTC) can surge considerably

Currently, Bitcoin (BTC) is showing a slight upturn. However, when comparing the current sentiment that surrounds the leading crypto of the market with the drop recorded at the beginning of the year, the recent surge might be considered bullish.

At the moment of this writing, Bitcoin (BTC) trades at $7,370, dropping a shallow 0.8% in the last 24 hours. However, the current quotation doesn’t mirror the right Bitcoin market. In fact, the BTC has vast potential, and its only issue is its volatility, and not the alleged liquidity, as many says.

But, as Gabor Gurbacs pointed out, the cryptocurrencies market, including BTC, needs to mature and become a real industry, something that is not the case right now. Also, as VanEck’s Gurbacs stated if gold investors would turn to Bitcoin (BTC), which is the “digital gold” whatsoever, the leading cryptocurrency of the market would “go to the Moon.”

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Crypto News

Bitcoin (BTC) And Cryptocurrencies Market Could Significantly Surge In 2019

It looks like the series of negative news about Bitcoin (BTC) as well as other cryptocurrencies is gradually fading away, exposing a positive environment surrounding the cryptocurrencies market.

During the last week, the Bitcoin (BTC) prices, along with those of the other cryptocurrencies, have soared slightly, particularly when measured against previous values against the US Dollar. Notwithstanding the obvious cryptocurrencies market boom of December 2017 and the sharp decline as we moved into 2018, which continued in February, the cryptos showed a slight recovery during recent months.

Some cryptocurrencies market analysts who examine the ongoing market boom think there are a number of reasons for the recent upturn. First, the alternative cryptocurrencies, the so-called altcoins, are gaining a higher degree of freedom from Bitcoin (BTC) and the fluctuations in its price.

Bitcoin (BTC), along with the other cryptocurrencies on the market, will significantly surge in 2019

We have recently noticed that a lot of altcoins are slightly diverging from the behavior of Bitcoin (BTC) within cryptocurrencies market. Commonly, when Bitcoin (BTC) is surging within the cryptocurrencies market, the rest of altcoins, such as XRP (XRP), formerly known as Ripple (XRP), and a few others, surge similarly.

Meanwhile, the analysts are forecasting that the cryptocurrencies market could be heading for a lockdown in the upcoming weeks. If you plan to invest, some experts have advised you to make a long-term investment, instead of putting money on the short-term.

Bitcoin falling to around $6,600 on July 5th was probably the lowest point of the year, but its price will continue to rise and will probably reach a peak of around $15,000 by the end of this year. Cardano (ADA) is the most impressive one so far.

Michael Collins, founder and CEO of GN Compass

Other cryptocurrencies market analysts say that the investors are time-limited to board the “cryptocurrency train.” That is a decision that investors have to take sooner. Otherwise, they could be arriving too late.

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Crypto Markets News

Bitcoin (BTC) And Cryptocurrencies, In General, Criticized During The US Congress Session

On July 18th, the US Congress was the scene of several discussions on cryptocurrencies, in general, and Bitcoin (BTC), in special. Federal Reserve (FED) Chairman Jerome Powell and Democratic Senator Brad Sherman used their speeches in the Chamber to express their negative views on the issue.

Powell said that, despite their growth and the interest they have generated in the population, the cryptocurrencies are not yet large enough to compromise the country’s economic and financial well-being. The head of the FED expressed his displeasure with the issue, assuring that these tools are not among the priorities of the institution he heads. For him, they are assets for money laundering and pose significant risks to investors.

Also, he assured that the FED is not working on adopting its own cryptocurrency. For him, most crypto holders sell and pay in dollars, and he added that cryptocurrency is not a right way to preserve value because of its volatility.

Despite the negative US Congress views on cryptocurrencies, the US SEC might approve Bitcoin (BTC) ETFs trading

But despite pointing out the criminal uses of cryptocurrencies, Powell’s position was not as openly negative as that of Brad Sherman, a congressman and member of the California House of Financial Services. For him, the federal government must ban U.S. citizens from investing in cryptocurrency.

In the United States, authorities are watching out for illegal activities with cryptos as well as their legal status. A House subcommittee recently held a hearing to address the anonymity of cryptos transactions, raising concerns about the possible use of these assets for illicit purposes.

For its part, the Department of Justice, in conjunction with the U.S. Futures Trading Commission, could be on the trail of possible illegal practices that could influence the bitcoin market, especially regarding trading activities.

The Securities and Exchange Commission (SEC) received more than 60 comments, mostly in favor of Cboe Global Markets’ request for approval of Bitcoin (BTC) ETFs, an issue that has been on the company’s agenda and has been taken up again by the company. Most commentators highlight the benefits that investors in that country would obtain from the acceptance of Bitcoin (BTC) ETFs trades.

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Crypto News

Bitcoin (BTC) Debated At The “Delivering Alpha Conference” In New York

Barry Silbert, founder and CEO of Digital Currency Group, said he is optimistic about Bitcoin (BTC) as an investment asset, CNBC reported.

Barry Silbert, CEO of Digital Currency Group, and Jeremy Allaire of Circle are bullish about Bitcoin (BTC)

In his speech at the Delivering Alpha Conference in New York on Wednesday, Silbert said he thinks that “we have probably hit rock bottom over the year. In fact, I put some money in Bitcoin last week.” He added that “as an asset class it is here to stay. I’m 100 percent sure that a form of decentralized, non-trust money is here to stay.”

Jeremy Allaire of cryptocurrency startup Circle, supported by Goldman Sachs and Baidu, also addressed the conference. Allaire said that the blockchain technology would form the basis of all the new technological innovations.

This is a new layer of Internet infrastructure. It’s going to replace what the operating systems do. It’s the future of the Internet. This is not about digital gold.

Jeremy Allaire, Circle

Younger generations should focus on other fields than investing in Bitcoin (BTC), thinks Ken Griffin from Citadel

Ken Griffin, the CEO and founder of Citadel’s hedge fund, is more skeptical about the leading cryptocurrency of the market, Bitcoin (BTC). At the same conference, he admitted that he “still scratches his head” on BTC, saying that the younger generation should “do something more productive than investing in digital coins.”

Today, Avenue Capital Group co-founder Marc Lasry shared Silbert’s positive stance, stating that BTC will soon reach $40,000. He said, “as you get more into the mainstream, and as more markets end up allowing you to trade where you can trade freely, that’s more of a gamble for me.”

At the moment of this writing, Bitcoin (BTC), the leading cryptocurrency by market cap, trades at $7,453, surging by about 0.23% in the last 24 hours,

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