Bitcoin is similar to gold in several ways. Like gold, they cannot be created in an arbitrary way.
In fact, only 21 million bitcoins can exist on this planet. Once miners reach that number, the world’s supply will essentially be depleted, unless the bitcoin protocol is changed to allow more supply.
With the first 18 million bitcoins mined in just a decade, and with just 3 million more coins to go, it may seem like the final number is not too far away. True, but only in a certain sense. The BTC network is more complicated than that.
BTC mining awards
The BTC mining process that rewards miners with bitcoin pieces upon successful verification of a block adapts over time. When Bitcoin was first launched, the reward was 50 BTCs. A few years later, in 2012, it halved to 25 BTCs. In 2016, it again halved to 12.5 BTCs.
In 2020, the reward will again decrease to 6.25 BTC. It will continue to halve every four years or so until the final bitcoin is mined. This means that the reward for miners is getting smaller and smaller over time, and it also takes longer to reach the final bitcoin than it seems based on the pace so far. In reality, it is unlikely that the final bitcoin will be mined before around 2140, unless the bitcoin network protocol is changed by then.
Effects of Bitcoin over offer on Bitcoin miners
It may seem that the group of people most directly affected by the bitcoin supply limit will be the bitcoin miners themselves. On the one hand, there are critics of the protocol who say that miners will be forced to withdraw from the overall rewards they receive for their work once the supply of bitcoins reaches $ 21 million in circulation.
Without the incentive provided by a bitcoin price at the end of a rigorous and costly mining process, miners will not be forced to continue supporting the network. Because mining is not only a process by which new tokens are introduced into the ecosystem, but above all it is the way in which the decentralized blockchain is taken care of and maintained in the absence of a central bank or another single authority, if the miners give up their work the network will probably move towards centralization or will collapse completely.
Even when the latest bitcoin has been produced, miners will likely continue to participate actively and competitively and to validate new transactions. The reason is that each bitcoin transaction is associated with small transaction fees. These fees, although they now represent a few hundred dollars per block, could potentially reach several thousand dollars or more per block as the number of transactions on the blockchain increases and the price of bitcoin increases. Ultimately, it will operate as a closed economy where transaction costs are valued like taxes.
However, it should be noted that it will take well over 100 years before the bitcoin network mines its last token. It is also important to note that the bitcoin network itself is likely to change considerably by then.
Given what has happened to bitcoin in just a decade, hard forks, new protocols, new methods of recording and processing transactions, and a number of other factors can impact the process. extraction.
Keep your bitcoins safe on the AiBB wallet
AiBB is a multi-protocol utility portfolio that combines the power of decentralized and centralized technologies in a simple and secure mobile application. Download the app here.
It was in 2017 when cryptocurrencies soared to the next level. As a result, their importance developed a lot in comparison to the way it was before.
So, what does the future hold in store for us? At AiBB, we have highlighted a few key points for your reference.
Everyone will start using cryptocurrencies – and they may not even know it
Although it’s been a decade since cryptocurrencies came into existence, there are people who don’t know about it. They use the traditional method of transactions to manage the cash flow.
In the future, businesses are expected to start the use of cryptocurrencies as a mode of payment for their services, thus, removing the middleman in the process. This will definitely help in the reduction of cost making their services cheaper to the masses. All of this will happen even when people are not aware of cryptocurrencies.
Bitcoins will reach $ 1 million
By the end of 2020, bitcoins are expected to reach $ 1 million. They can take control of the global economy, thereby increasing demand.
Snapchat owner Jeremy Liew and Peter Smith, co-founder of Blockchain, predicted that by 2030 the price will have reached $ 500,000.
- In the future, Bitcoin will serve as remittances for many people.
- Lack of knowledge can prompt people to buy Bitcoins as a safer investment method similar to gold.
- With smartphone transactions, half of the world will move to non-monetary transactions by 2030.
- Cryptocurrencies are expected to replace Government Fiat currencies.
All Government fiat currencies will cease to exist as people start walking towards cryptocurrencies like Ethereum, Bitcoins, Litecoins, etc. The main reason for this adoption is that cryptocurrencies are considered the reliable storage of value across the country’s borders and political aspects.
If you consider the most popular cryptocurrency, Bitcoin, it reached the top 30 list by exceeding the $10,000 mark. So, most crypto experts predict that these currencies are here to stay by being an alternative to Fiat currencies.
Government agencies are expected to adopt the Blockchain technology.
Most countries having SEC guidelines are expected to start adopting the use of cryptocurrencies for their governments.
All government agencies typically maintain a separate database. Each agency depends on the other for its processes. It has been a tedious process these days. When Blockchain came into existence, the distributed ledger can help in providing effective data management to improve and simplify the process.
The Internet of Things will play a big role in the future of cryptocurrencies
The IoT is already there. When these two giants combine, we can expect a fantastic future for technology without a doubt. According to the recent IDC report, it is expected that Blockchain technology will soon join the Internet of Things.
The primary motto of this IoT integration is to make a secure and scalable framework for communication between these devices. And then, cryptocurrencies also have the stability to make micro-investments for smart devices efficiently.
So that’s basically it. Hope you had a great read.
It is no secret that Bitcoin and other cryptocurrencies have played a huge role in cybercrime. We also believe that the opposite could also be true: cybercrime, including ransomware, has helped in boosting the cryptocurrency economy and increasing the value of Bitcoins.
Ransomware attacks have always been a problem beyond the shutdown of local services and state services. Emisoft, a cybersecurity company, also estimates that the value of bitcoin – used in 98% of all ransomware payments in the first quarter of 2019 – is reinforced by such attacks.
What is Ransomware?
Ransomware is a type of malware that encrypts a victim’s files. To regain access to the files, the victim must pay a ransom that can range from a few hundred dollars for home users to hundreds of thousands of dollars for large corporations and public entities.
The ransom is usually paid in cryptocurrency, and this cryptocurrency is usually bitcoin.
Bitcoin has become the preferred method of ransomware transaction for several reasons:
- Accessibility: You can easily buy bitcoins through an exchange with a debit card, credit card, or a bank transfer. The ease of use increases the risk of victims paying a ransom.
- Verifiable: All bitcoin transactions are documented openly on the blockchain, allowing cybercriminals to verify that a payment has been made.
- Anonymity: Bitcoin is not the most private cryptocurrency, but tumbler and mixer services allow criminals to launder ransom payments, thus, hiding their identities.
More the demand, more the value
Security experts and law enforcement officials generally advise against paying a ransom. Not only is there no guarantee that an organization will be able to recover its files after paying, but it will also perpetuate the ransomware cycle. The payment of the ransom proves to cybercriminals that ransomware attacks are profitable, which could increase the number in the future.
Despite these recommendations, no less than 45% of the organizations victimized by ransomware software have chosen to pay the ransom. To pay the ransom, companies must acquire Bitcoin, which increases the demand significantly. And, in accordance with the guiding principles of the basic economy, the greater the market demand for Bitcoin, the higher its value.
Alan Woodward, a cybersecurity professor, believes that ransomware may have played a role, but the price of bitcoin is so volatile that several factors can be combined. One of these factors could be that companies expecting a ransomware attack would have bought bitcoin in preparation.
A considerable number of companies accumulate bitcoins in case they are victims of ransomware and need to pay a request. It would seem logical that the higher the demands and the more high-profile cases, the more companies will start buying. We think this explains the rise in prices, rather than the ransom demands themselves.
According to reports, the United States currently holds the lion’s share of the attacks with 53%, and now that cybercriminals are turning to higher calibre targets, more and more companies could start buying bitcoins, will, of course, affect their price.
This news is brought to you by AiBB – It is a multi-protocol utility wallet that combines the power of decentralized and centralized technology in a simple & secure mobile application. Download the app here.
Ethereum is considered by many as rising star of the cryptocurrency world. It has quickly established itself as the second largest cryptocurrency in the world.
Vitalik Buterin, a Russian programmer, created Ethereum at the end of 2013. Vitalik officially announced Ethereum in January 2014 at the North American bitcoin conference in Miami, USA.
Ethereum was created to do things that Bitcoin could not do.
The idea of Ethereum is just not another cryptocurrency.
Rather, it was created as an effort to code, execute, and execute intelligent contracts and DApps (autonomous distributed applications) independently, without the interaction of humans.
How does Ethereum work?
The native Ethereum cryptocurrency is known as Ether (ETH). Since ETH is a cryptocurrency, it is decentralized and uncontrolled by a single governing entity, similar to that of a Bitcoin.
This contrasts with other e-commerce systems, which have centralized control and are regulated by the governing bodies of their countries.
The network relies on “nodes” – volunteers from around the world downloading the entire blockchain of Ethereum and fully impose the system’s consensus rules, essential to its operation.
Uses and applications
Ethereum is a platform for creating and running all kinds of decentralized services, called DApps. One of the main advantages of this system is its wide applicability. In addition to facilitating monetary transactions, it also allows users to create decentralized applications on their blockchain. Here are some uses and applications of Ethereum:
- Security against hackers
Ethereum, having no centralized server, is very difficult to handle for hackers. The use of cryptography has made it secured and the apps are protected against all fraudulent practices and hacking attacks. You cannot access a node and make the desired changes to the blockchain.
ETH transactions utilize ‘Smart Contracts’, allowing you to exchange anything of value. For example, instead of purchasing photos on the World Wide Web, you buy them directly from the photographer and make a contract for that purpose.
- Store data
Server farms are digital stores with hundreds of servers used for storing information. Companies such as Microsoft and Dropbox store large amounts of data in these server farms. The problem is that they concentrate a large part of their storage on a single site. These places can be completely destroyed if they’re attacked by external factors like as natural disasters or hackers. Although redundant systems are created, this entails additional costs.
This is where the decentralized system of Ethereum comes out as a clear winner. In a decentralized storage system, data is not focused on a single farm, but is distributed to hundreds of computers around the world. Its blockchain technology can be used to rapidly encrypt and transfer data anywhere in the world.
Where can you store ETH after purchase?
You cannot store ETH on a BTC wallets – instead, it requires its own wallet or a multi-currency wallet. The AiBB wallet can effectively serve this purpose.
AiBB is a multiprotocol utility wallet that combines the power of decentralized and centralized technology into a simple and secure mobile application. Download the app here.
The world is becoming more and more dependent on the Internet.
It is therefore, not surprising that Bitcoins, a secure, global and digital currency has claimed the interest of investors.
Bitcoin is open to all and offers an exciting opportunity to dive into a whole new class of assets.
Investing in bitcoins may seem scary at first, but they are usually safe, especially when you know more about them
What is a Bitcoin?
Created in 2009, bitcoin is a digital currency. Unlike normal money, which is guaranteed and valued by the government printed on it, Bitcoin is managed independently and has no Government support, which means that their value, or what you can actually spend it on, is largely determined by users.
This means that bitcoins can be worth a few dollars to nearly 20k each.
Are bitcoins safe?
Yes they are.
1. Bitcoin is encrypted and secure
Bitcoin is encrypted and saved on a special system called blockchain. The Blockchain technology uses volunteers – many of them – to work together to encrypt transactions on the Bitcoin system.
In doing so, they ensure that all personal information remain on the screen, and even if hackers manage to enter the system, there is nothing useful to steal.
2. Bitcoin is public
“Wait, it does not seem safer”, but by “public”, we mean that all transactions are transparent and accessible to the public, even if the people involved are anonymous. This means that no one can cheat the system.
The transactions are also irreversible. Therefore, once you have obtained or sold your bitcoins, no one can claim their money back. With Bitcoin, it’s like thousands of people are watching your wallet to make sure no one is trying to steal anything.
3. Bitcoin is decentralized
Bitcoin has globally placed servers and over 10,000 nodes keeping track of all BTC transactions occuring on the system. And that is very important because it means that if something happens to one of the nodes or serves, the others can take over.
It also means that attempting to hack one of the servers is useless – you cannot do anything about it that other nodes and servers cannot prevent unless you control 51% of the nodes – a situation not impossible but terribly improbable.
What is the right moment to buy?
As with any market, nothing can be said safe. But we think that the moment is perhaps the best possible, especially given the value it has.
In the course of its history, the value of Bitcoin has generally increased very rapidly, followed by a slow and steady fall until stabilization.
Use the Market option on the AiBB app to understand the value of the current Bitcoin market. Remember that bitcoin is global and is not affected by the financial situation or stability of the country.
Security is very complex in the tech-savvy world. It seems that almost every day, there is another report of a major data breach or ransomware.
While blockchain is the cryptowallet security model (blockchain is completely secure through the distributed ledger creating the chain), it does not produce a fully secure system. The threat does not lie on the blockchain, but on the portfolio or the exchange provider.
Therefore, it is strongly recommended that you take ample security measures to safeguard your private keys and protect your funds in your wallet. The following tips can help.
Practice proper internet hygiene
Pay attention to the places you go online, especially when using your device with a wallet. Malicious websites and unsafe public WiFi networks can put your crypto wallet at risk. At the same time, do not leave your device unattended and do not lend it to anyone.
Be aware of phishing
Phishing scams through Google Ads and e-mails are common in the world of cryptography.
These scams are more and more rampant; make sure the domain name of emails received from portfolio companies is spelled correctly. Once you have sent your private key to a phishing website, you can say farewell to your funds.
Do not keep your cryptocurrencies on the exchange
You may think of keeping your cryptocurrencies on the exchange where you bought them, but that means you let the exchange take control of your funds and possibly expose them to hackers.
It is safer to move your coins to a software wallet like AiBB, which allows you to fully control your private keys while protecting them from hackers.
Check twice when making a transaction.
Remember that cryptographic transactions are irreversible and that any small error in the recipient’s address will result in a loss of money. As encrypted wallet addresses represent a huge mix of numbers and numbers, committing an error is not that difficult. Never type addresses manually, only copy and paste.
However, even this precaution is not always enough. Some tricky viruses replace the address of the wallet by that of a hacker. Even after copying and pasting the address, carefully check the first and last symbols and make sure they match.
Use a separate email address for your encrypted wallet.
If your email is hacked, the hacker may gain access to your wallet. Set up a different email address with alternative information, such as your nick name – something, that will be hard for the hacker to guess.
For additional security, use different email addresses for your exchange account and your wallet account. Use these addresses only for these accounts and for no other purpose.
Disable automatic updates
It is always a good idea to disable automatic updates for applications related to the cryptographic sphere.
Application bugs can potentially lead to massive losses for account holders. It is best to wait 2 to 3 days after an update is released to see if any bugs appear.
Why choose AiBB?
You can securely store all your altcoins in AiBB’s smart wallet. With powerful security features such as fingerprint recognition, PIN code lock, email verification, and wallet backup you can be sure your coins are safe.
Check out our official website to find out more.
The answer, in short, is NO.
Cryptocurrency exchange can be the best way of getting coins, but many people who use them make the mistake of keeping them in the exchange wallet instead of transferring them to a private wallet.
Storing cryptographic coins on exchange wallets can be dangerous for several reasons. Let’s take a look.
1. Exchanges can be hacked
This has recently happened with Cryptopia, a New Zealand exchange.
Two months later, although the Cryptopia team is working to solve this problem, we still do not know how many customers have lost all or part of their funds.
2. The problem of not being regulated
The world of cryptocurrency is a bit like the Wild West, no one is in charge and there are not many rules.
This means that in situations, such as in the recent survey of a crypto exchange in South Korea, assets may be frozen. Although exchange owners can tell their customers that their encryption assets will remain safe, they cannot guarantee this in any way.
So, it’s better to be safe than sorry.
3. The owner of the exchange dies and takes all the coins to his grave
One of the strangest stories in history of cryptocurrency: Gerald Cotten, owner of the Canadian Quadriga Exchange, recently died while traveling to India. All the customers lost access to their funds because Cotten was apparently the only one to know the password.
P.S. This is not only unprofessional and stupid, but also so careless that it seems almost impossible. The internet therefore thinks that Cotten is much more likely to have faked his own death.
4. Zero property
You can store all the coins or tokens you buy on your exchange wallet, but you do not really own it. Exchange wallets differ from personal wallets because they are ideally “hot wallets” for trading.
If something happens during the exchange, you have no control over your coins because they are not in your custody.
So, what should you do?
Make sure you only use exchanges to exchange – that’s what they are supposed to do. The exchanges are intended for the exchange of coins, the wallets for their storage.
If you have to leave coins on the stock market, because you want to trade them or lend them, use only amounts that you can afford to lose.
Keep all your crypto-currencies in a separate wallet, such as AiBB.
About the AiBB
AiBB is a multiprotocol utility portfolio that combines the power of centralized and decentralized technology with a simple and secure mobile application. You will be able to store all your altcoins in the smart wallet safely.
With features such as PIN lock, portfolio backup, fingerprint recognition, and e-mail verification, you can be sure your chips are safe.
Crypto-currencies supported include:
• SYS • BTC • LTC • ETH • AiBe • XRP • AiBx • EOS • WAV • BCHABC • XLM.
You can download the application:
How Ai will Fuel the Future of Trading — And Stabilize the Crypto Markets
The basic steps of trading have always been the same: pick a diverse portfolio of assets to mitigate risk. Buy low. Pay attention to compound interest. Give buy and sell orders at price points that make sense for your goals and risk-tolerance. Sell high.
This predictability makes trading assets a no-brainer good-fit.
Hedge Funds Already Use Ai
Traditional markets have already caught on and have been deploying Ai for their own benefit for years. Fifty-eight percent of hedge funds say they’ve been using Ai to make trade predictions or offer advice (if not make trades automatically) for the last three years.
That number is rising. Almost 70% say they are currently using it to generate trading strategies.
A quarter of hedge funds use Ai to make the trades on their behalf, turning over the job of quickly executing on advice.
Ai hasn’t always been a smooth path toward reliable profit, however. According to Investopedia, a spring 2018 market correction meant traditionally reliable Ai indicators were overturned and Ai trades performed poorly. “Hedge funds that use Ai just had their worst month ever,” announced Bloomberg. Ai, the authors said, was partly responsible as it optimized its trade strategies for a bull market with consistent growth. It had not learned what to do when the trends changed, presenting the Ai with unknown variables and confusing metrics.
What happened in February and March? Well, Ai had never seen a sell-off in the two years of market data it was analysing to make its decisions. Then a sell-off happened. It’s these “never conceived” events that Ai cannot analyse — they’re simply not in the data it has available. It’s like Ai had been learning a chess game without knowing the rule of castling. It had never seen it, and therefore couldn’t incorporate it into the strategy. Ai is blind-sided when it doesn’t have data.
Humans can only juggle so much data, but for Ai, data means extra analysis, strategy, and the ability to interpret. Seeing all the moves before allows Ai to predict the conditions under which we see them again. And the more often we see them, the better Ai will get.
In fact, it’s gotten so good that in the midst of the sell-off, Reutersreported that commodities traders were leaving the market because superior computerized trading was fundamentally altering the market and making it too hard to spot new opportunities.
An oil trader is quoted in that article saying that the commodities market’s volatility came from “non-traditional investors and algorithmic trading.” Yet hedge managers argue injecting liquidity into their markets means more stability, not less.
Crypto Deserves Ai Tools
Crypto can benefit from Ai in the same way that traditional hedge funds have. However, the impact of Ai in crypto may be even greater given the traditional markets close. Sleep is a given. However, no one can monitor their crypto trade accounts 24/7 without the help of agency teams around the globe or automation.
The crypto market is more volatile than other markets — market cap is growing exponentially, but many coins still have low caps that allow great movement in prices and quick changes. Increasing liquidity by putting more traders in the driver’s seat, increasing participation, and offering correct information and the best strategies to all should stabilize the market, something that helps all traders and the markets themselves.
In the market today, information is rampant. It’s having bad information, or failing to interpret it correctly, that lands traders in hot water.
AiBB is committed to making sure our Ai learns from ranging markets, more stable markets, sell-offs, and strange situations until it is a master of the market.
Will they mess up as in the traditional markets? Probably. Ai can’t learn everything that’s never happened. But the longer it works, the better it gets. The market, too, gets liquidity, stability, and a more stable basis for trading.
Computers have always been great at crunching numbers with better-than-human results. We’re excited that they can now also anticipate market movement and allow us to give traders the tools to participate.
An AiBB crypto market is secure, stable, and simplified.
AiBB, the world’s smartest Ai-based crypto trading platform, announces a partnership with Iagon in order to bring users more functionality on their all-in-one crypto trading and advisement platform.
AiBB’s platform is packed with trading features including a single log-in across exchanges, a smarter Ai advisor, price accuracy, trade alerts and following pro traders. Smart contract making, wallet functionality, and banking services in the EU make a platform like no other — and now secure decentralized storage helps keep user trades safe, too.
Iagon offers proprietary encrypted, distributed storage utilizing blockchain and sharding protocols and storage will be accessible though the AiBB application. They will be able to hold IAG tokens on AiBB, increasing the functionality for traders and offering them access to Iagon’s ecosystem.
Both teams have a commitment to Ai-based systems where storage and processing power are at the heart of changing the computing world.
You can learn more about the AiBB token sale here.
You can check out Iagon’s revolutionary cloud here.
Cryptocurrency is hot. Still, with thousands of newly minted coins, companies, fluctuating prices and exchange platforms it can intimidate any would-be investor.
AiBB (pronounced Abe) is a crypto assistant designed to simplify the entire trading process for new and seasoned investors.
Founded by startup veteran Kelghe D’cruz, the blockchain-based application launches its fundraising efforts in a private token sale this month. The public pre-sale is scheduled for July 25th.
AiBB is founded on the idea that smarter is better and that its Ai should go beyond anything currently available — rivallying the tools traditional currencies use for trade advice.
In a nutshell, Aibb consolidates all the available crypto data, trends the pricing over a period and allows investors to buy and sell all within one app.
AiBB uses patent pending AI technology to make sure important deals are just a swipe away and users’ long-forgotten orders are not undermining their financial health. It uses proprietary algorithms that sift through thousands of sources, assess their accuracy, and analyze them against the market.
Tokens can be used to unlock features on the platform like coin swap, deep analysis on your portfolio, implement basic and advanced trading strategies.The utility token allows users to up their game while the voice-controlled Ai assistant is standard for all users.
AiBB has evolved in 2018 to embrace its bigger vision with a bigger team and a product beta right on the website for users to engage. A public crowd sale is scheduled for September 1. Announcements will be released at all stages of the project sale.
AiBB is an all-in-one solution that takes the smartest artificial intelligence of the fiat world and applies it to the wild west of cryptocurrency. Founded in early 2017, AiBB trades, predicts, and guards investments to make for more successful traders, all from a voice-first platform. Our Ai assistant prototype can be found at https://aibb.io/aibb-prototype/