Category Archives: Cryptocurrency

Chris DeRose is a software developer, bitcoin evangelist, public speaker and lead developer of Drop Zone.

In this opinion piece, DeRosedraws parallels between the South Seas Bubble of the 1700s and the current craze for ICOs, warning that the parallels between the two are "uncanny".

***

Ye Fools in Great-Britain, repent in your Folly

Bewailing the Loss of your Money and Lands,

Unto your Vexation, 'tis fled from the Nation,

And Blockheads and Ninnies have got it in hand."

The Bubblers Medley, circa 1720 (Yes, really)

***

The Spanish King, Charles the second, was dead. And there were no heirs apparent to his throne. The War of the Spanish Succession had begun.

With Spain's weakened leadership, and unable to defend its territory, a power vacuum formed through which nearly nearly all European nations vied for control of Spain's undefended land.

The war that started in 1701, raged on for nearly nearly 15years and ended by treaty. The war ended without anyone clear victor, but the treaty resulted in significant changes to European and American territorial boundaries.

What was left of the eviscerated Spanish mainland was given to Philip V, a member of the French nobility who held the closest genealogical claim to the Spanish throne. What was received by Britain and France was the title to 'New World' territory in North and South America. What was received by all participants, was debt and the need to build and rebuild trade routes upon the new redistributed land. Enter Britain's 'South Seas Company'.

The South Seas Company was formed via a partnership between the British parliament and the Bank of England in the year 1711.

The structure of this company was like many others in the 17thand 18thcenturies. The company came into existence through a royal charter, and was given a monopoly on part of the monarchy's commerce. In the case of the South Seas company, this monopoly was granted over the trade in the newly conquered Spanish territory.

At the time of commencement, shares in the South Seas Company were primarily issued by conversion of war debt. The debt from the Spanish War, assessed at 10m, was assigned to the South Seas company for repayment. And at the option of an existing bondholder, that debt could instead be converted into equity into the new venture.

It was a good deal for the state, as the debt was removed from its books and import tax revenues could be collected from the company. And for a while, it was a great deal for debt and shareholders. So, when the Treaty of Utrecht was signed in 1713 by all parties involved in the war,the ship that was the South Seas Company was ready to set sail.

It's tough to say just where the South Seas 'bubble' itself started, as the run up was caused by the culmination of many small decisions, each made with the best of intentions for shareholders.

Marketing for the South Seas Company was unusually aggressive out the gates, with fantastic tales being told about the spoils awaiting export from the new land. Further, there was a complex front-running strategy that enabled legislatively privileged insiders to buy government bonds before the announcement, and 'sell into the pump'.

Later accounts of this time would reveal that the marketers of this security knew the tales of wealth were not sustainable at the time, but felt that, with the capital received, surely some profit would follow. Sure enough, as the claims of surefire returns were being propagated, the South Seas Bubble began its ascent.

Unique to the South Seas company's launch, and for the first time in British history, investors were courted from outside those with close ties to the monarchy. The perceived potential to share in the gains of this elite group were too good an offer for the common man to pass down. And, the buying and selling of the stock developed into a new form of gambling in which the country as a whole began to play.

As the South Seas Company's valuation began to grow, and expectations of great wealth compounded, promoters of the South Seas Company started to realize that they too could emulate itssuccessby creating their own companies and issuing stocks. For the ICO speculators of today, this is where the bubble begins to get significantly more interesting.

Initially, these 'bubble companies' (Yep, that's just what they were called) had plausible enough goals. In a time that preceded the invention of the 'white paper', these companies instead drafted marketing literature that was quick to read and high on aspiration.

The initial companies were fairly benign in their focus. And, at first, most companies were focused on insurance, product and utility endeavors. To quote the canon of buttcoin, these companies could fairly be synopsized as having 'but with the new world' goals for their corporate strategy.

Over time, as the public's appetite for extraordinary investment opportunities continued to grow, the claims of these bubble companies grew equally extraordinary. No regulatory oversight or specialist review was needed at the time, so claimants began to pitch companies which claimed they would achieve: "the making iron with pit coal", "the transmutation of quicksilver into a malleable fine metal", "the making of rape-oil" and, of course, "a wheel for perpetual motion".

At the height of the madness, the most famously ethereal company of the bubble promised, without irony, "a company for carrying out an undertaking of great advantage, but nobody to know what it is".

As the mania grew, promoters and proto-exchange operators began to appear on the streets of London. 'Stock-jobbers', as they came to be known, began to market their paper on the busy streets between london's coffee houses.

The stock-jobbers would buy and sell the newest schemes to passers-by for a commission on the sale. These promoters were notoriously unscrupulous, and as the front men for many of the unsavory offerings, and they would also become the first to be held responsible by buyers whose investments fell short of the promise.

Adjusted for inflation, at its peak, the South Seas Company's market cap would equal $4tnin 'real' (inflation adjusted) terms. Nearly all the country's bureaucracy, aristocracy and businessmen held significant exposure to the scheme. Even Isaac Newton was heavily invested in the company before its downfall. Oracles, it would seem, were equally unable to predict outcomes in times of manic fervor.

As the South Seas company reached its peak valuation, a confluence of events caused its downfall. In December of 1719, having yet failed to achieve any profit, the South Seas company was unable to pay its year-end dividend to shareholders.

This default started a snowball of action amongst politicians and bankers. Some bankers began to realize that increasing valuations could not continue indefinitely. Meanwhile, politicians began to see that investments in bubble companies, which were still technically illegal, competed with investment stake in their South Seas Company holdings.

In January of 1720, a parliamentary commission was held on what should be done about the fervor. Through a series of compromises and scandals, the commission concluded that only companies with a royal charter could be bought and sold. By June of that year, the Bubble Act reaffirmed the illegality of bubble corporations and put an end to the trading of their stocks.

The final nail in the coffin was due to an investor credit program of which thefirst payments were due in August of 1720. At that time, investors began to sell their holdings to make due on the payment, and this started the initial selloff.

What happened next, should be unsurprising. Bankruptcies began, and within months had reached all time highs. As the losses mounted, then compounded, everyone was affected. Notable bankruptcy included that of Isaac Newton, who upon losing the near entirety of his life savings proclaimed:

"I can calculate the movement of stars, but not the madness of men."

By the end of 1720, the price of the South Seas company stock had fallen 90%.

Investors revolted against the stock-jobbers, the company founders, and the politicians who they blamed for losing their wealth. The mobs formed, and justice was demanded. Extraordinary claims that were once pitched and traded as foregone conclusions, were finally tested. Many of those who were responsible for the extreme claims fled the country. Those that remained faced jail and asset confiscations.

Though many of the stock-jobbers escaped prosecution, they faced an inordinate public backlash in the form of mockery, ridicule, and disdain. Famous amongst this backlash is a lengthy written condemnation of their work by Daniel DeFoe (the author of "Robinson Crusoe"), a popular deck of playing cards commemorating the folly, and numerous plays written to ridicule the stock-jobbing profession.

With the resulting contraction of the entire economy's growth, the South Seas Bubble was the great depression of its century, and the Bubble Act remained in effect thereafter for over 100years, restricting the growth of investment markets until it was finally overturned in 1825.

Unregulated, and without peer review, the investment economy had turned into a perverse and unsustainable Keynesian beauty contest. The South Seas Bubble never returned a profit on its operating expenses during the entirety of the bubble, and what little trade it did attempt (mostly in slaves) wasperformed at a net financial loss.

If it's not clear by now, the parallels between the South Seas Bubble and today's ICO market are... uncanny.

As a new class of investor was given access to a securities market for the first time, and without any regulatory safeguards, this market quickly degenerated into a gambling racket where unscrupulous businessmen catered solely to the speculative markets, without any concern for long-term sustainability and non-speculative capital inflow.

Not only that, these pitchmen starved out investment in modest, but actually profitable endeavors. The burden of this environment resulted in substantial externality costs borne by the entirety of the market.

Given the chance, investors will rationally jump at the opportunity to be the second greatest fool. And to promote long-shot schemes over modest and humble endeavors.

Whether bitcoin itself goes the way of the South Seas Company has yet to be determined. But what is certain is that, if and when the SEC chooses to restrict the growth of this sector, much like British parliament's enactment of the Bubble Act of 1720, prices for these 'undertakings of great advantage' will quickly fall to zero.

Sailing ship image via shutterstock

Disclaimer: The views expressed in this article are those of the author and do not necessarily represent the views of, and should not be attributed to, CoinDesk.

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Cryptocurrency Investment Cues From the South Seas Bubble - CoinDesk

Table of Contents

Global Cryptocurrency and Blockchain Market Research Report 2017 1 Methodology/Research Approach 1.1 Research Programs/Design 1.2 Market Size Estimation 1.3 Market Breakdown and Data Triangulation 2 Data Source 2.1 Secondary Sources 2.2 Primary Sources 3 Disclaimer 1 Cryptocurrency and Blockchain Market Overview (Page -35) 1.1 Product Overview and Scope of Cryptocurrency and Blockchain 1.2 Cryptocurrency and Blockchain Segment by Types (Product Category) 1.2.1 Global Cryptocurrency and Blockchain Output (K Units) and Growth Rate (%) Comparison by Types (Product Category) (2016-2022) 1.2.2 Global Cryptocurrency and Blockchain Output Market Share (%) by Types (Product Category) in 2016 1.2.3 Bitcoin (BTC) 1.2.4 Ether (ETH) 1.2.5 Litecoin (LTC) 1.2.6 Ripple 1.2.7 Peercoin 1.2.8 Dogecoin 1.2.9 Namecoin 1.3 Global Cryptocurrency and Blockchain Segment by Applications 1.3.1 Global Cryptocurrency and Blockchain Consumption Comparison by Applications (2012-2022) 1.3.2 Transaction 1.3.3 Investment 1.3.4 Others 1.4 Global Cryptocurrency and Blockchain Market by Regions (2012-2022) 1.4.1 Global Cryptocurrency and Blockchain Revenue (Million USD) Comparison by Regions (2012-2022) 1.4.2 United States Cryptocurrency and Blockchain Status and Prospect (2012-2022) 1.4.3 China Cryptocurrency and Blockchain Status and Prospect (2012-2022) 1.4.4 EU Cryptocurrency and Blockchain Status and Prospect (2012-2022) 1.4.5 Japan Cryptocurrency and Blockchain Status and Prospect (2012-2022) 1.4.6 South Korea Cryptocurrency and Blockchain Status and Prospect (2012-2022) 1.4.7 Taiwan Cryptocurrency and Blockchain Status and Prospect (2012-2022) 1.5 Global Market Size of Cryptocurrency and Blockchain (2012-2022) 1.5.1 Global Cryptocurrency and Blockchain Revenue (Million USD) Status and Outlook (2012-2022) 1.5.2 Global Cryptocurrency and Blockchain Capacity, Output (K Units) Status and Outlook (2012-2022) 2 Global Cryptocurrency and Blockchain Market Competition by Manufacturers (Page -50) 2.1 Global Cryptocurrency and Blockchain Capacity, Output and Share by Manufacturers (2012-2017) 2.1.1 Global Cryptocurrency and Blockchain Capacity (K Units) and Share (%) by Manufacturers (2012-2017) 2.1.2 Global Cryptocurrency and Blockchain Output (K Units) and Share (%) by Manufacturers (2012-2017) 2.2 Global Cryptocurrency and Blockchain Revenue and Share by Manufacturers (2012-2017) 2.3 Global Cryptocurrency and Blockchain Average Price by Manufacturers (2012-2017) 2.4 Manufacturers Cryptocurrency and Blockchain Manufacturing Base Distribution, Sales Area, Product Types 2.5 Cryptocurrency and Blockchain Market Competitive Situation and Trends 2.5.1 Cryptocurrency and Blockchain Market Concentration Rate 2.5.2 Cryptocurrency and Blockchain Market Share (%) of Top 3 and Top 5 Manufacturers 2.5.3 Mergers & Acquisitions, Expansion 3 Global Cryptocurrency and Blockchain Capacity, Output, Revenue by Regions (Page -55) 3.1 Global Cryptocurrency and Blockchain Capacity and Market Share by Regions (2012-2017) 3.2 Global Cryptocurrency and Blockchain Output and Market Share by Regions (2012-2017) 3.3 Global Cryptocurrency and Blockchain Revenue and Market Share by Regions (2012-2017) 3.4 Global Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 3.5 United States Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 3.6 EU Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 3.7 China Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 3.8 Japan Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 3.9 South Korea Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 3.10 Taiwan Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 4 Global Cryptocurrency and Blockchain Supply (Output), Consumption, Export, Import by Regions (Page -59) 4.1 Global Cryptocurrency and Blockchain Consumption by Regions (2012-2017) 4.2 United States Cryptocurrency and Blockchain Output, Consumption, Export, Import (2012-2017) 4.3 EU Cryptocurrency and Blockchain Output, Consumption, Export, Import (2012-2017) 4.4 China Cryptocurrency and Blockchain Output, Consumption, Export, Import (2012-2017) 4.5 Japan Cryptocurrency and Blockchain Output, Consumption, Export, Import (2012-2017) 4.6 South Korea Cryptocurrency and Blockchain Output, Consumption, Export, Import (2012-2017) 4.7 Taiwan Cryptocurrency and Blockchain Output, Consumption, Export, Import (2012-2017) 5 Global Cryptocurrency and Blockchain Output, Revenue, Price Trend by Types (Page -64) 5.1 Global Cryptocurrency and Blockchain Output (K Units) and Market Share (%) by Types (2012-2017) 5.2 Global Cryptocurrency and Blockchain Revenue (Million USD) and Market Share (%) by Types (2012-2017) 5.3 Global Cryptocurrency and Blockchain Price (USD/Unit) by Type (2012-2017) 5.4 Global Cryptocurrency and Blockchain Output Growth (%) by Type (2012-2017) 6 Global Cryptocurrency and Blockchain Market Analysis by Applications (Page -73) 6.1 Global Cryptocurrency and Blockchain Consumption and Market Share by Applications (2012-2017) 6.2 Global Cryptocurrency and Blockchain Consumption Growth Rate by Applications (2012-2017) 7 Global Cryptocurrency and Blockchain Manufacturers Profiles/Analysis (Page -110) 7.1 ZEB IT Service Pvt. Ltd. 7.1.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.1.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.1.2.1 Product A 7.1.2.2 Product B 7.1.3 ZEB IT Service Pvt. Ltd. Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.1.4 Main Business/Business Overview 7.2 Coinsecure 7.2.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.2.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.2.2.1 Product A 7.2.2.2 Product B 7.2.3 Coinsecure Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.2.4 Main Business/Business Overview 7.3 Coinbase 7.3.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.3.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.3.2.1 Product A 7.3.2.2 Product B 7.3.3 Coinbase Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.3.4 Main Business/Business Overview 7.4 Bitstamp Ltd. 7.4.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.4.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.4.2.1 Product A 7.4.2.2 Product A 7.4.3 Bitstamp Ltd. Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.4.4 Main Business/Business Overview 7.5 Litecoin 7.5.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.5.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.5.2.1 Product A 7.5.2.2 Product B 7.5.3 Litecoin Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.5.4 Main Business/Business Overview 7.6 Poloniex Inc 7.6.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.6.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.6.2.1 Product A 7.6.2.2 Product B 7.6.3 Poloniex Inc Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.6.4 Main Business/Business Overview 7.7 BitFury Group Limited 7.7.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.7.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.7.2.1 Product A 7.7.2.2 Product B 7.7.3 BitFury Group Limited Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.7.4 Main Business/Business Overview 7.8 Unocoin Technologies Private Limited 7.8.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.8.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.8.2.1 Product A 7.8.2.2 Product B 7.8.3 Unocoin Technologies Private Limited Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.8.4 Main Business/Business Overview 7.9 Ripple 7.9.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.9.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.9.2.1 Product A 7.9.2.2 Product B 7.9.3 Ripple Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.9.4 Main Business/Business Overview 7.10 OKEX Fintech Company Limited 7.10.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.10.2 Cryptocurrency and Blockchain Product Category, Application and Specification 7.10.2.1 Type A 7.10.2.2 Type B 7.10.3 OKEX Fintech Company Limited Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) 7.10.4 Main Business/Business Overview 7.11 Bitfinex 8 Cryptocurrency and Blockchain Manufacturing Cost Analysis (Page -116) 8.1 Cryptocurrency and Blockchain Key Raw Materials Analysis 8.1.1 Key Raw Materials 8.1.2 Price Trend of Key Raw Materials 8.1.3 Key Suppliers of Raw Materials 8.1.4 Market Concentration Rate of Raw Materials 8.2 Proportion of Manufacturing Cost Structure 8.2.1 Raw Materials 8.2.2 Labor Cost 8.2.3 Manufacturing Expenses 8.3 Manufacturing Process Analysis of Cryptocurrency and Blockchain 9 Industrial Chain, Sourcing Strategy and Downstream Buyers (Page -121) 9.1 Cryptocurrency and Blockchain Industrial Chain Analysis 9.2 Upstream Raw Materials Sourcing 9.3 Raw Materials Sources of Cryptocurrency and Blockchain Major Manufacturers in 2016 9.4 Downstream Buyers 10 Marketing Strategy Analysis, Distributors/Traders (Page -124) 10.1 Marketing Channel 10.1.1 Direct Marketing 10.1.2 Indirect Marketing 10.1.3 Marketing Channel Development Trend 10.2 Market Positioning 10.2.1 Pricing Strategy 10.2.2 Brand Strategy 10.2.3 Target Client 10.3 Distributors/Traders List 11 Market Effect Factors Analysis (Page -126) 11.1 Technology Progress/Risk 11.1.1 Substitutes Threat 11.1.2 Technology Progress in Related Industry 11.2 Consumer Needs/Customer Preference Change 11.3 Economic/Political Environmental Change 12 Global Cryptocurrency and Blockchain Market Forecast (Page -135) 12.1 Global Cryptocurrency and Blockchain Capacity, Output, Revenue Forecast (2017-2022) 12.1.1 Global Cryptocurrency and Blockchain Capacity, Output (K Units) and Growth Rate (%) Forecast (2017-2022) 12.1.2 Global Cryptocurrency and Blockchain Revenue and Growth Rate Forecast (2017-2022) 12.1.3 Global Cryptocurrency and Blockchain Price and Trend Forecast (2017-2022) 12.2 Global Cryptocurrency and Blockchain Output, Consumption, Import and Export Forecast by Regions (2017-2022) 12.2.1 United States Cryptocurrency and Blockchain Output, Revenue, Consumption, Export and Import Forecast (2017-2022) 12.2.2 EU Cryptocurrency and Blockchain Output, Revenue, Consumption, Export and Import Forecast (2017-2022) 12.2.3 China Cryptocurrency and Blockchain Output, Revenue, Consumption, Export and Import Forecast (2017-2022) 12.2.4 Japan Cryptocurrency and Blockchain Output, Revenue, Consumption, Export and Import Forecast (2017-2022) 12.2.5 South Korea Cryptocurrency and Blockchain Output, Revenue, Consumption, Export and Import Forecast (2017-2022) 12.2.6 Taiwan Cryptocurrency and Blockchain Output, Revenue, Consumption, Export and Import Forecast (2017-2022) 12.3 Global Cryptocurrency and Blockchain Output, Revenue and Price Forecast by Type (2017-2022) 12.4 Global Cryptocurrency and Blockchain Consumption Forecast by Application (2017-2022) 13 Research Findings and Conclusion (Page -136)

List of Tables and Figures

Table Research Programs/Design for This Report Figure Bottom-up and Top-down Approaches for This Report Figure Data Triangulation Table Key Data Information from Secondary Sources Table Key Data Information from Primary Sources Figure Product Picture of Cryptocurrency and Blockchain Table Global Cryptocurrency and Blockchain Output (K Units) and Growth Rate (%) Comparison by Types (Product Category) (2016-2022) Figure Global Cryptocurrency and Blockchain Output Market Share (%) by Types (Product Category) in 2016 Figure Product Picture of Bitcoin (BTC) Table Major Manufacturers of Bitcoin (BTC) Figure Product Picture of Ether (ETH) Table Major Manufacturers of Ether (ETH) Figure Product Picture of Litecoin (LTC) Table Major Manufacturers of Litecoin (LTC) Table Global Cryptocurrency and Blockchain Consumption (K Units) Comparison by Applications (2012-2022) Figure Global Cryptocurrency and Blockchain Consumption Market Share (%) by Applications in 2016 Figure Transaction Examples Figure Investment Examples Figure Others Examples Figure Global Cryptocurrency and Blockchain Revenue (Million USD) Comparison by Regions (2012-2022) Table Cryptocurrency and Blockchain Revenue (Million USD) Comparison by Regions (2012-2022) Figure United States Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (2012-2022) Figure China Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (2012-2022) Figure EU Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (2012-2022) Figure Japan Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (2012-2022) Figure South Korea Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (2012-2022) Figure Taiwan Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (2012-2022) Figure Global Cryptocurrency and Blockchain Revenue (Million USD) Status and Outlook (2012-2022) Figure Global Cryptocurrency and Blockchain Capacity, Output (K Units) Status and Outlook (2012-2022) Figure Global Cryptocurrency and Blockchain Major Players Product Capacity (K Units) 2012-2017 Table Global Cryptocurrency and Blockchain Capacity (K Units) of Key Manufacturers (2012-2017) Table Global Cryptocurrency and Blockchain Capacity Market Share (%) of Key Manufacturers (2012-2017) Figure Global Cryptocurrency and Blockchain Capacity Market Share (%) of Key Manufacturers in 2016 Figure Global Cryptocurrency and Blockchain Capacity Market Share (%) of Key Manufacturers in 2017 Figure Global Cryptocurrency and Blockchain Major Players Product Output 2012-2017 Table Global Cryptocurrency and Blockchain Output (K Units) of Key Manufacturers (2012-2017) Table Global Cryptocurrency and Blockchain Output Share by Manufacturers (2012-2017) Figure 2016 Cryptocurrency and Blockchain Output Share by Manufacturers Figure 2016 Cryptocurrency and Blockchain Output Share by Manufacturers Figure Global Cryptocurrency and Blockchain Major Players Product Revenue (Million USD) 2012-2017 Table Global Cryptocurrency and Blockchain Revenue (Million USD) by Manufacturers (2012-2017) Table Global Cryptocurrency and Blockchain Revenue Market Share (%) by Manufacturers (2012-2017) Figure 2016 Global Cryptocurrency and Blockchain Revenue Market Share (%) by Manufacturers Figure 2016 Global Cryptocurrency and Blockchain Revenue Market Share (%) by Manufacturers Table Global Market Cryptocurrency and Blockchain Average Price (USD/Unit) of Key Manufacturers (2012-2017) Figure Global Market Cryptocurrency and Blockchain Average Price (USD/Unit) of Key Manufacturers in 2016 Table Manufacturers Cryptocurrency and Blockchain Manufacturing Base Distribution and Sales Area Table Manufacturers Cryptocurrency and Blockchain Product Category Figure Cryptocurrency and Blockchain Market Share (%) of Top 3 Manufacturers Figure Cryptocurrency and Blockchain Market Share (%) of Top 5 Manufacturers Table Global Cryptocurrency and Blockchain Capacity (K Units) by Regions (2012-2017) Figure Global Cryptocurrency and Blockchain Capacity Market Share by Regions (2012-2017) Figure Global Cryptocurrency and Blockchain Capacity Market Share by Regions (2012-2017) Figure 2016 Global Cryptocurrency and Blockchain Capacity Market Share by Regions Table Global Cryptocurrency and Blockchain Output (K Units) by Regions (2012-2017) Figure Global Cryptocurrency and Blockchain Output Market Share (%) by Regions (2012-2017) Figure Global Cryptocurrency and Blockchain Output Market Share (%) by Regions (2012-2017) Figure 2016 Global Cryptocurrency and Blockchain Output Market Share (%) by Regions Table Global Cryptocurrency and Blockchain Revenue (Million USD) by Regions (2012-2017) Table Global Cryptocurrency and Blockchain Revenue Market Share (%) by Regions (2012-2017) Figure Global Cryptocurrency and Blockchain Revenue Market Share (%) by Regions (2012-2017) Figure 2016 Global Cryptocurrency and Blockchain Revenue Market Share (%) by Regions Figure Global Cryptocurrency and Blockchain Capacity, Output (K Units) and Growth Rate (%) (2012-2017) Table Global Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table United States Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table EU Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table China Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table Japan Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table South Korea Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table Taiwan Cryptocurrency and Blockchain Capacity, Output (K Units), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Table Global Cryptocurrency and Blockchain Consumption (K Units) Market by Regions (2012-2017) Table Global Cryptocurrency and Blockchain Consumption Market Share (%) by Regions (2012-2017) Figure Global Cryptocurrency and Blockchain Consumption Market Share (%) by Regions (2012-2017) Figure 2016 Global Cryptocurrency and Blockchain Consumption Market Share (%) by Regions Table United States Cryptocurrency and Blockchain Output, Consumption, Import & Export (K Units) (2012-2017) Table EU Cryptocurrency and Blockchain Output, Consumption, Import & Export (K Units) (2012-2017) Table China Cryptocurrency and Blockchain Output, Consumption, Import & Export (K Units) (2012-2017) Table Japan Cryptocurrency and Blockchain Output, Consumption, Import & Export (K Units) (2012-2017) Table South Korea Cryptocurrency and Blockchain Output, Consumption, Import & Export (K Units) (2012-2017) Table Taiwan Cryptocurrency and Blockchain Output, Consumption, Import & Export (K Units) (2012-2017) Table Global Cryptocurrency and Blockchain Output (K Units) by Types (2012-2017) Table Global Cryptocurrency and Blockchain Output Share (%) by Types (2012-2017) Figure Output Market Share (%) of Cryptocurrency and Blockchain by Types (2012-2017) Figure 2016 Output Market Share (%) of Cryptocurrency and Blockchain by Types Table Global Cryptocurrency and Blockchain Revenue (Million USD) by Types (2012-2017) Table Global Cryptocurrency and Blockchain Revenue Market Share (%) by Types (2012-2017) Figure Revenue Market Share (%) of Cryptocurrency and Blockchain by Types (2012-2017) Figure 2016 Revenue Market Share (%) of Cryptocurrency and Blockchain by Types Table Global Cryptocurrency and Blockchain Price (USD/Unit) by Types (2012-2017) Figure Global Cryptocurrency and Blockchain Output Growth (%) by Type (2012-2017) Table Global Cryptocurrency and Blockchain Consumption (K Units) by Applications (2012-2017) Table Global Cryptocurrency and Blockchain Consumption Market Share (%) by Applications (2012-2017) Figure Global Cryptocurrency and Blockchain Consumption Market Share (%) by Applications (2012-2017) Figure Global Cryptocurrency and Blockchain Consumption Market Share (%) by Applications in 2016 Table Global Cryptocurrency and Blockchain Consumption Growth Rate by Applications (2012-2017) Figure Global Cryptocurrency and Blockchain Consumption Growth Rate by Applications (2012-2017) Table ZEB IT Service Pvt. Ltd. Basic Information, Manufacturing Base, Sales Area and Its Competitors Table ZEB IT Service Pvt. Ltd. Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure ZEB IT Service Pvt. Ltd. Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure ZEB IT Service Pvt. Ltd. Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure ZEB IT Service Pvt. Ltd. Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Coinsecure Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Coinsecure Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Coinsecure Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Coinsecure Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Coinsecure Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Coinbase Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Coinbase Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Coinbase Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Coinbase Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Coinbase Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Bitstamp Ltd. Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Bitstamp Ltd. Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Bitstamp Ltd. Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Bitstamp Ltd. Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Bitstamp Ltd. Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Litecoin Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Litecoin Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Litecoin Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Litecoin Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Litecoin Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Poloniex Inc Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Poloniex Inc Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Poloniex Inc Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Poloniex Inc Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Poloniex Inc Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table BitFury Group Limited Basic Information, Manufacturing Base, Sales Area and Its Competitors Table BitFury Group Limited Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure BitFury Group Limited Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure BitFury Group Limited Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure BitFury Group Limited Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Unocoin Technologies Private Limited Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Unocoin Technologies Private Limited Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Unocoin Technologies Private Limited Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Unocoin Technologies Private Limited Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Unocoin Technologies Private Limited Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Ripple Basic Information, Manufacturing Base, Sales Area and Its Competitors Table Ripple Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure Ripple Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure Ripple Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure Ripple Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table OKEX Fintech Company Limited Basic Information, Manufacturing Base, Sales Area and Its Competitors Table OKEX Fintech Company Limited Cryptocurrency and Blockchain Capacity, Output (K Unit), Revenue (Million USD), Price (USD/Unit) and Gross Margin (%) (2012-2017) Figure OKEX Fintech Company Limited Cryptocurrency and Blockchain Output Growth Rate (%) (2012-2017) Figure OKEX Fintech Company Limited Cryptocurrency and Blockchain Output Market Share (%) (2012-2017) Figure OKEX Fintech Company Limited Cryptocurrency and Blockchain Revenue Market Share (%) (2012-2017) Table Output Base and Market Concentration Rate of Raw Material Figure Price Trend of Key Raw Materials Table Key Suppliers of Raw Materials Figure Manufacturing Cost Structure (Percentage) of Cryptocurrency and Blockchain Figure Manufacturing Process Analysis of Cryptocurrency and Blockchain Figure Cryptocurrency and Blockchain Industrial Chain Analysis Table Raw Materials Sources of Cryptocurrency and Blockchain Major Manufacturers in 2016 Table Major Buyers of Cryptocurrency and Blockchain Table Distributors/Traders List Figure Global Cryptocurrency and Blockchain Capacity, Output (K Units) and Growth Rate (%) Forecast (2017-2022) Figure Global Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate (%) Forecast (2017-2022) Figure Global Cryptocurrency and Blockchain Price and Trend Forecast (2017-2022) Table Global Cryptocurrency and Blockchain Output (K Units) Forecast by Regions (2017-2022) Figure Global Cryptocurrency and Blockchain Output Market Share (%) Forecast by Regions (2017-2022) Table Global Cryptocurrency and Blockchain Consumption (K Units) Forecast by Regions (2017-2022) Figure Global Cryptocurrency and Blockchain Consumption Market Share (%) Forecast by Regions (2017-2022) Figure United States Cryptocurrency and Blockchain Output (K Units) and Growth Rate Forecast (2017-2022) Figure United States Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate Forecast (2017-2022) Table United States Cryptocurrency and Blockchain Output, Consumption, Export and Import (K Units) Forecast (2017-2022) Figure EU Cryptocurrency and Blockchain Output (K Units) and Growth Rate Forecast (2017-2022) Figure EU Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate Forecast (2017-2022) Table EU Cryptocurrency and Blockchain Output, Consumption, Export and Import (K Units) Forecast (2017-2022) Figure China Cryptocurrency and Blockchain Output (K Units) and Growth Rate Forecast (2017-2022) Figure China Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate Forecast (2017-2022) Table China Cryptocurrency and Blockchain Output, Consumption, Export and Import (K Units) Forecast (2017-2022) Figure Japan Cryptocurrency and Blockchain Output (K Units) and Growth Rate Forecast (2017-2022) Figure Japan Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate Forecast (2017-2022) Table Japan Cryptocurrency and Blockchain Output, Consumption, Export and Import (K Units) Forecast (2017-2022) Figure South Korea Cryptocurrency and Blockchain Output (K Units) and Growth Rate Forecast (2017-2022) Figure South Korea Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate Forecast (2017-2022) Table South Korea Cryptocurrency and Blockchain Output, Consumption, Export and Import (K Units) Forecast (2017-2022) Figure Taiwan Cryptocurrency and Blockchain Output (K Units) and Growth Rate Forecast (2017-2022) Figure Taiwan Cryptocurrency and Blockchain Revenue (Million USD) and Growth Rate Forecast (2017-2022) Table Taiwan Cryptocurrency and Blockchain Output, Consumption, Export and Import (K Units) Forecast (2017-2022) Table Global Cryptocurrency and Blockchain Output (K Units) Forecast by Type (2017-2022) Figure Global Cryptocurrency and Blockchain Output Market Share (%) Forecast by Type (2017-2022) Table Global Cryptocurrency and Blockchain Revenue (Million USD) Forecast by Type (2017-2022) Figure Global Cryptocurrency and Blockchain Revenue Market Share (%) Forecast by Type (2017-2022) Table Global Cryptocurrency and Blockchain Price (USD/Unit) Forecast by Type (2017-2022) Table Global Cryptocurrency and Blockchain Consumption (K Units) Forecast by Application (2017-2022) Figure Global Cryptocurrency and Blockchain Consumption (K Units) Forecast by Application (2017-2022)

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Global Cryptocurrency and Blockchain Market

If youve ever had a company or friend offer to pay you with Bitcoins or another type of digital money, youve encountered cryptocurrency, also called crypto-money or cryptoassets.

Cryptocurrency is a digital currency that is created through the use of encryption software. This approach is a solution to security and control issues that prevented a purely digital currency from being successfully developed in the past. If you hear someone talking about one of these currencies, its almost certainly in a cryptocurrency format. This type of digitally created and secured money is currently in a period of very cool experimentation, so lets take a look at how it work, why its popular, and where cryptocurrency is heading in the future.

How does a currency exist in a totally digital format? What is it based on? While the process varies a little between different cryptocurrencies, they all follow the same general system.

First, cryptocurrency chooses a base unit and how much that particular unit is worth when compared to other currencies (often, the U.S. dollar is used as a baseline). Some cryptocurrencies are more imaginative than others at this point. They try to represent debt registries, contracts, or the act of currency exchange itself. It can get a little weird, but ultimately the unitin some way relates to the value of other currency, as is true of all currencies in the world.

Units of cryptocurrency are then created, typically when a transaction occurs. The units are carefully formed and preserved through algorithmic encryption, then linked together in vast chains of data, where the currency can be tracked and exchanged.

However, at this point, cryptocurrency is still too vulnerable and too easy to fake. The currency units need to be timestamped and processed to make them more concrete and harder to copy. A third party developer can do this, but most cryptocurrencies prefer to crowdsource the process to those with the right hardware and software to mine the currency.

Mining uses algorithms to go through each transaction, encrypt the cryptocurrency, and add it to a digital ledger, essentially verifying it and cementing its position online. This process may also be referred to as consensus protocols orconsensus platforms, depending on the currency. This process is meant to make the currency impossible to duplicate, though whether its successful is up for some debate.

Some cryptocurrencies are highly centralized, with someone usually the organization that created the process/software making decisions about how much currency is created and how it is used. Other types are very decentralized, controlled only by how and where people are willing to use them.

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Cryptocurrency explainer: Everything you need to know - Digital Trends

Cryptocurrencies represent awesome payment systems that enable anyone to send and receive money to and from anyone in the world; convert it to fiat currencies easily and use it to buy whatever one might choose whether online or offline. However, one of the drawbacks of crytpcorurrencies is that it can be somehow hard to buy them, especially in selected countries where it is difficult to open a bank account.

Throughout this article, I will show you three ways to make money online in the form of cryptocurrencies using just your laptop/PC and an internet connection:

Steemit.com is a blockchain based social network, that incentivizes its users for posting and curating (upvoting) content. On Steemit, you can makemoney online, in the form of crypto, for posting new content and/or curating (up-voting) the content of others. The social network has three forms of currencies/tokens:

When you publish a post on steemit, you will receive rewards for it after 24 hours depending on the number of upvotes it received by other users, who create content. Your earnings will be divided into 3 portions

a. 50% will be in the form of STEEM Power

b. 25% will be in the form of STEEM

c. 25% will be in the form of SBD

STEEM and SBD can be instantly transferred to an exchange and sold for Bitcoin, while you can only convert STEEM Power to STEEM, to be able to sell it, through a complex process known as Power Down.

Even though I remember that I used to mine around 1 whole bitcoin every 36 hours in 2010,using just my PC, it is now impossible to mine bitcoin and most major altcoins using a PC, as the networks of all these coins have grown massively and their networks difficulties have skyrocketed too. However, there are a handful of altcoins that you can still mine using a PC with reasonable specifications.

Minergate provides a descent service that enables you to mine a number of altcoins using your PC or laptop including monero, bytecoin, ethereum, ethereum classic and others. The software also has a great option; Smart mining, which automatically picks up for you the best coins to mine according to market prices and network difficulties.

With a few clicks, you can download, install and start mining cryptocurrencies using your laptop. The higher the specifications of your PC (processor, RAM) and GPU, the bigger the amount you can make via Minergates mining software. Roughly speaking, a dual core i5, 8 GB RAM PC with a 1 GB Nividia Geoforce GPU can mine what is worth around 10 cents per day.

Gridcoin Research (GRC) is a cryptocurrency network that is created to facilitate multi-party computing and reward volunteers who donate their computing power to BOINC projects with GRC. You can make between 8-30 cents per day via donating your PCs processing power to the gridcoin network.

Follow the BOINC client and gridcoin installation guides on gridcoins official website and in less than 20 minutes, you will be earning gridcoin for donating your computers processing power.

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3 Simple Ways for Earning Cryptocurrency Using Just Your PC - Live Bitcoin News

Monday, April 17, 2017 6:22 AM UTC

Privacy-oriented cryptocurrency Zcash has been approved on the Apple App Store via Jaxxs iOS platform.

According to the official announcement, Jaxx, a multi-token blockchain wallet, was the first wallet to integrate Zcash and is excited to now have the cryptocurrency available on its iOS platform. Also, Apple follows a rigorous approval process, particularly for allowing cryptocurrencies onto the App Store. The iPhone makers approval of Zcash signifies that it is a fast-growing and well-respected technology.

Jaxx is a very simple, easy-to-use wallet and the team behind it has been a pleasure to work with. Im delighted that thanks to them, hundreds of millions of iPhone users can, for the first time send and receive Zcash from their phones, Zooko Wilcox, CEO of the company behind Zcash development, Zerocoin Electric Coin Company, said.

Jaxx also revealed that it is in talks with Zcash on the possibility of supporting ZEC shielded addresses. Currently, Jaxx supports transparent addresses which behave similarly to Bitcoin, publishing transaction data publicly to the blockchain. It explained that while the use of shielded addresses by others provide greater privacy for transparent addresses compared to Bitcoin, official support for shielded addresses in Jaxx will significantly enhance capabilities for users.

The privacy aspect of their [Zcash] technology meshes really well with Jaxxs philosophies. Weve been working on a Zcash-integrated iOS version for a long time and were over the moon that Zcash has been approved on the App Store, Anthony Diiorio, CEO of Jaxx, said. Zcash is a very well run project and its been an absolute pleasure to work with Zooko and team. We look forward to continuous collaboration between our two projects, especially for when we implement Zcashs shielded addresses.

In addition to Jaxx, Zcash also announced its integration on a second wallet, SmartWallet, a Brazilian money application.

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Zcash cryptocurrency gets Apple App Store approval via Jaxx's iOS ... - EconoTimes

Over the last few years, the Cryptocurrency industry has been gaining popularity, and for a good reason. With the complexity that goes into making physical dollars, its clear now why people are opting to print a new form of currency. Making a digital currency is quite easier for someone with basic coding skills. Most are turning to the internet to gain ground and understand its use and value. Before, the concept was unfamiliar and scary just like the credit card some years back.

You might have come across the terms Bitcoin, Litecoin, and Ether. These are cryptocurrencies that use the Blockchain Technology to ensure this currency and technology is safe. Here we look at the some of the new opportunities created by cryptocurrency versatility in different fields. But before that, lets look at the basics.

A cryptocurrency is an encrypted digital currency that is created using advanced encryption techniques commonly known as cryptography. The concept became a reality upon the creation of Bitcoin in 2009. It captured the attention of significant investors in April 2013 when it recorded a price of $266 per bitcoin. So, will the currency eventually unseat the ruling currencies such as dollars and euros? The answer lies with the Bitcoin.That said, what are the new opportunities being created by the cryptocurrency? Find out.

According to Gigaom reports, university students can now receive bitcoin once they enroll in school, and some universities are even accepting the currency as a form of payment for tuition. Dan Elitzer, the President of the MIT Bitcoin Club, and Jeremy Rubin, a computer scientist at MIT, successfully raised about half a million dollars for the enrollment of more than four thousand students worldwide in tech institutions.

The team together with the bitcoin community managed to provide students a chance to develop their own bitcoin wallets. This seems like a clever plan judging from the recent advancements in Bitcoin where they have developed the new Xapo Wallet.

Today technology has enabled students to access different services including essay services and now cryptocurrency. Providing college students with access to bitcoin is a great step in cryptocurrency especially since universities are now accepting alternative currencies such as Bitcoin as payment for tuition.

The improved growth in the use of cryptocurrency leads to entrepreneurial innovation and it is said to foster growth in traditional banking infrastructure. Once the infrastructure is built and there is mass distribution of the currency, new businesses can build financial services without having to invest in expensive infrastructure. They just have to build applications and supportive services aside from the cryptocurrency system and they conduct their business without building a data center, huge hardware, and an IT department.

The ability of an entrepreneur to access a source of payment method has fueled innovations in the financial services. These services are beneficial to the constituencies and areas that are underserved by the traditional banking providers.

Cryptocurrencies are the latest technological advancements that have enabled groups to create custom designed currencies. Today we see banks and other institutions working hard to establish their digital currencies and this is a new chance to experiment new technology.

Bitcoin has already set ground and proven to be quite dynamic and resilient amongst other currencies. It has undergone massive criticism but it has proven its powerful on the global perspective. Being an example of a successful digital currency, it is completely public and can be used in peer-to-peer transactions. It is a global financial utility that is accessible to anyone provided youre connected to the internet.

Those who say that Bitcoin and Ethereum may become irrelevant may be surprised. Cryptocurrencies are high-grade financial tools that are made for legitimate and exciting function with a sense of global financial services that bypasses the infrastructure of traditional banking. Some experts even suggest that blockchain payment systems may beat the mighty U.S. Automated House financial transactions system come 2020.

With the technological advancement that is being experienced now, it is not a surprise to find that the cryptocurrency usage may accelerate to greater heights. The blockchain technology is expected to form a great part of the coming internet generation with massive transformation in commerce and overall structure of corporations and many other institutions across the globe. Be ready for this radical transformation. Its worth checking out.

Bio

Laura Buckler is a professional freelance writer and blogger with a passion in SEO and web designing. She loves writing on different topics with her works ranging from articles and reports for several large companies. If you like her work, follow Laura on @laura_buckler.

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Cryptocurrency Versatility Creates New Opportunities - The Merkle

OneCoin OneLife Networks mission is to enable a global community of web users to take active part in using and improving new, cutting edge digital products and services. Aim to increase the quality of life of members using the ONE Ecosystem. To provide alternative and equal access to practical and relevant financial education to people worldwide. Ignite a Natural Financial Evolution. Invite opportunities for Economic Growth and create new market opportunities.

Note: OneCoin OneLife neither investment company, nor investment intermediary and do not sell any investment.

What is One?

OneCoin is one of the latest cryptocurrencies that has headquarters in Europe and carries out its operations worldwide. It heavily focuses and relies on the vital markets like Europe, Africa, India and other Asian countries, especially the southeastern region. The onecoin cryptocurrency has regional offices all over the global and its fast expansion is mainly due to its increasing number of traders. In fact, One aims to have over one million traders worldwide and issue approximately 2.1 billion coins in the system.

The founders of one coin digital currency believe that they have built much more than just an electronic currency. In order to make One unique and more successful than any of its peers, the founders have devised a whole new, comprehensive method that will help traders benefit from One as well as bring profits to the founders. The main components of OneCoin are as follows:

OneCoin are selling educational packages and give the MAs an opportunity to apply the knowledge about the cryptocurrency into practice by providing them some promotional tokens which give access to the mining pools but not guarantee that and how many coins will be received.

Tokens provided when activate the particular package are promotional ones and give the opportunity to IMAs to apply their knowledge about cryptocurrencies they have acquired from our online education into practice.

Remember: No one buys OneCoins or tokens. What is cryptocurrency?

Connect with a global family of more than 3.0 MILLION members

Mobile Application Builder

Future Plane: So What are you waiting for Register Now For Free Onelife onecoin Account.

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Welcome to the Future of CryptoCurrency - OneCoin OneLife

Creditbit price soared against the US Dollar and Bitcoin to register nasty gains, and it looks like more gains are possible considering the recent moves.

Creditbit price soared against the US Dollar and Bitcoin to register nasty gains, and it looks like more gains are possible considering the recent moves.

Creditbit, which is a relatively new cryptocurrency is on the move recently. Its price registered nasty gains during the past few days, and it looks unstoppable at the moment. It is developed on an independent Bitcoin-like Blockchain on December 2015. They also recently launched a new Creditbit Info APP. According to details on the website, the app helps in providing basic information about Creditbit coin. With the app, one can follow its price in the real-time action.

The app also helps users and traders to find markets to buy Credibit coin. The price of the coin marched higher recently against the US Dollar and Bitcoin. First, the CRBIT/USD pair gained heavy bids from the $1.70 low, and started moving higher. There was a strong upside move, as the price moved past the $3 and $5 resistance levels to trade as high as $7.25.

Similarly, the CRBIT/BTC pair moved higher from the 0.0015BTC to trade above the 0.0050BTC resistance. The current price action looks god and with Cryptocurrency Hype, there are chances of more gains in the near term. The price is currently correcting sharply towards 0.003BTC, but it remains supported on the downside for yet another upside move.

Hourly MACD The MACD for the CRBIT/BTC pair is stabilizing in the bullish zone.

Hourly RSI The RSI for the CRBIT/BTC pair is correcting lower from the extreme overbought levels.

Intraday Support Level 0.0030BTC

Intraday Resistance Level 0.0050BTC

Charts from Worldcoinindex

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Creditbit Price Soars; More to Come with Cryptocurrency Hype - newsBTC

Forbes

Cryptocurrency Boom Predicted By Bitcoin Market Data CEO Confirmed, Trend 'Set To Continue' Forbes Where's the cryptocurrency market heading? Well, a prediction made in January over a boom in market capitalization of cryptocurrencies - and particularly in the altcoin market - by the founder of a crypto-market intelligence start-up that raised over ...

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Cryptocurrency Boom Predicted By Bitcoin Market Data CEO Confirmed, Trend 'Set To Continue' - Forbes

As a mobile payment method, Bitcoin is gaining prominence alongside apps like Samsung and Apple Pay, a surge in popularity helped no end by the cryptocurrencys triumph over gold for value earlier this year. But, despite a decade of development and a number of high-profile fans behind it, is it possible for people to survivewith just their mobile phone and virtual Bitcoin wallet in their pocket?

Casino

In some places, its easy to live off virtual money. For example, buying games is a straightforward task (Steam, Microsoft, and Kinguin all accept Bitcoin) and the more eccentric and modern a coffee shop happens to be, a trait thats discernable through the vessels it serves its lattes in (who doesnt love their morning cup of Joe in a chemistry beaker?), the more likely it is to accept Bitcoin. Its a strange fact of life.

Similarly, a branch of the casino industry, iGaming, accepts Bitcoin exclusively, a good example of which is this site, Vegas Casino, a crypto-casino. The website has the customary perks for new players, including a 50 mBTC no deposit bonus, but Bitcoin integration means thatdeposits and withdrawals are instant by default and odds can be provably fair. With a range of live casino games and several hundred slots, Vegas Casinos business model is both viable and unique.

But, beyond the safety of the internet, is Bitcoin still a usable currency? The short answer is yes; the long one is below:

The Right Place

Obviously, the usability of Bitcoin in the real world hinges on the number of stores that will accept it in lieu of plastic or coins. However, acceptance isnt uniform in the United States, a good chunk of crypto-culture is centered on the Eastern Seaboard, Los Angeles, San Francisco, Tampa, and Miami while support for Bitcoin in Africa is confined to about five cities. Europe has by far the most consistent coverage as far as Bitcoin-friendly stores are concerned, though.

Kreuzberg, the counterculture capital of Berlin, has a record store, a bar called Room 77 and a cake-selling caf (Floors), among other establishments, all of which will take Bitcoin for goods. The Guardian notes that the first LP sold for Bitcoin in Kreuzberg was Tom Waitss The Big Time. Kreuzberg is perhaps typical of the Bitcoin-accepting community, as a pocket of support in an otherwise fiat-orientated city.

Living on Bitcoin

There are people out there who have gone the whole hog and challenged themselves to live a dollar-less life, such as Olaf Carlson-Wee, formerly of currency exchange website Coinbase. His rationale is idealistic I view Bitcoin as the more democratic version of money but his experience with the currency nevertheless brings up some of the difficulties of using it offline; there arent many landlords that accept Bitcoin.

Talking to Forbes three years ago, Carlson-Wee would almost definitely have an easier time getting people to accept Bitcoin in 2017. Ironically, luxury goods like TVs are readily available for Bitcoin; its things like gas and groceries that can prove elusive. However, taking the advice of Bitcoin marathoners on Reddit and YouTube, buying gift cards with the cryptocurrency is a popular way to ensure the stock of organic avocado doesnt dip too low.

Finally, the obvious question to ask is what is involved in paying with Bitcoin? The customer simply transfers the money to the business by opening their preferred digital wallet app and then scanning a QR code supplied by the cashier. Its a little different to Apple Pay transactions but no more convoluted.

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Bitcoin for a Day: Is it Possible to Live off Cryptocurrency? - NewsWatch