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Best.Change

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Hello!

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We are BestChange.

Please check out our service and have a great exchanging experience at: https://www.bestchange.com/

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Today we have gathered 5 unsophisticated pieces of advice which will help you manage your money more effectively and won’t need lots of effort, focus or time.

1. Set up specific goals

Financial experts insist that making a list of specific actions that you want to do can be very useful. Avoid blurry descriptions such as “save up more” to receive a more exact plan how to “work” with money. Moreover, to not overload yourself and your budget, set only 3 goals you feel more certain that you can reach. For example, “purchase of a laptop”, “purchase of a car”, “marketing courses”.

2. Make an emergency fund

No, it’s not about your saving ups, it is rather a fund for unexpected costs in case of emergency. Everybody can find themselves in trouble, that’s why it is better to be prepared in advance. When force major strikes, you won’t need to “pinch” from your savings or lend money from all your friends. By the way, hide your emergency fund as far as possible and don’t check it without the necessity.

3. Spend money only on things that help you grow

The only way to achieve this goal is to assess your current expenses. You cannot go forward not knowing what was your starting point, can you? So, learn your expense items for the year and make a conclusion which habits or things you should exclude and on which you can spend more. Set it as your rule: only spend your money on things that bring you visible and tangible benefit.

4. Set up a day without expenses

Financial advisers suggest setting up a day when you won’t have any expenses at all – and that is a very good decision which will make you more focused and attentive to your own finances. This goal is specifically useful for the young people who often do not account for their money and recklessly spend it on entertainment and fun with their friends. Who knows, maybe in future you will learn how to have even two days a week without expenses!

5. Repay your debts immediately

Make it as your goal to firstly repay all the debts: to people, banks or credit offices. Of course, you should try not to borrow money at all, but if you have done so, make it your priority to repay debts and not spending on yourself. In other words, adopt the philosophy of quick repaying rather than yielding to your whims. It is not easy, but this will make you a more organized and task-oriented person.

We hope that our advice will help you save up your money so you could grow it buying actives you are interested in with the help of our service.

 

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Posted (edited)

Today we have decided to have a small crash course for those who are new at the market of cryptocurrencies. And we’re going to start from the very basics.

The most important point that one has to understand, is that to keep cryptocurrency you have to have a wallet’s address and there are three ways how you can create one:

1. Use online wallets
2. Download a program to your PC
3. Buy a hardware wallet

We will quickly go through pros and cons of each way. But let’s start by telling a few words about what a wallet for cryptocurrencies is using bitcoin as a sample. Bitcoin, as any other cryptocurrency, is kept only in a form of a blockchain. Anybody can view a transaction in the net, check the balance of any wallet. This information is open for everyone. But it is impossible to tell who the owner of the wallet is.

Bitcoin wallet has two parts:

• Open key. It is the address of the bitcoin wallet, it is not a secret. It has 32-34 symbols of Latin letters and numbers. All addresses always start with the number “1” or “3”.
• Private key (sometimes called as a secret key). It is a longer sequence of letters and numbers of the Latin alphabet. You mustn’t tell it to anyone, because it is an access to the wallet.

Transaction in bitcoin network means that cryptocoins go from one wallet’s address to another. The speed of transaction is equal to emerging of a new block in blockchain (10 minutes on average).

Transaction is subject to a small fee. Depending on the network loading, its amount can change. The sender specifies its amount. By the way, commission does not depend on the amount of transaction. You can transfer amount equaling to $10, $10000 or $1 billion and still pay the same commission.

1. Online wallets

There are lots of sites which offer services for creation and keeping online-wallets. They are called “cryptowallets”. The service takes on all the issues of keeping funds safe. There are pros in that, since you don’t need to think about computer safety, plus reliability of the service is usually much better that that of a simple computer. We would like to personally recommend the service blockchain.com

2. Program on your PC

You can download programs for bitcoin wallet on the official website bitcoin.org. Here you can choose from lots of wallets supported by community: Bitcoin Core, MultiBit, Armory and Electrum. Also, you can learn the features of each of them. They slightly differ from each other. For example, Electrum does not keep all the history of transactions (blockchain) on computer, but it refers to randomly selected network nodes. Bitcoin Core, on the opposite, keeps the full history on your PC and computer must always be online for checking if the data is accurate. Today the blockchain size for bitcoin is about 200 Gigabytes. Many people recommend taking the security of a computer with bitcoin-wallet seriously. This is because in case fraudsters steal the wallet file, all your funds there will disappear.  As nobody wants this to happen, you need to follow the basic rules of computer usage safety.

3. Hardware wallets

Hardware wallets are a device that keeps the private key. Their advantage is that it is switched off the Internet and there is no way anybody can hack this wallet. If the device breaks or you lose access to it, you can restore it by entering 24 random words (so-called seed words).

And you can always find favorable rates for purchasing cryptocurrency on our site BestChange. com

We wish you reliable and profitable exchanges!
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Following the summary of the book we have shared this week, we would like to extend the topic and tell you about seven mistakes people make when writing to-do lists and several ways of avoiding such mistakes.

1.Too voluminous lists

We plan to do dozens of things during the day, but all our tasks vary in their urgency, length and time required for their completion. Long lists demotivate, because it is impossible to do every task in them.

Instead, specify 3 most important tasks which will benefit you the most in your carrier, business or you personally, and write them down in order of their importance on a small piece of paper to keep in front of your eyes during the day.

2.Ambiguity and uncertainty

Very often we formulate our goals too vaguely, not setting forth the specific steps we need to take to achieve the result. Instead of writing down: “Work on the presentation”, specify what exactly you are planning to do: “Make a draft of the presentation”, “Define 3 key points of the presentation” and so on.

It is important to understand:
- what the final result would be;
- if it is possible to finish the task in one go;
- what the deadline of the task is.

3.Poor time management

It’s hard to be effective if you don’t know how many hours or days it will require you to complete this or that task. Before getting down to work, estimate how much time you would approximately spend on this task. Even if you make mistakes in your estimations at first, they will help you to better manage your time in the future.

4.Falling for distractions

There are days when lots of unplanned tasks emerge and unforeseen situations take place. That’s why it is important not only to structure your schedule, but also be flexible. Every morning take a look in your calendar to check what you have planned for today and the next few days. During the day allow at least one hour to be spent on solving unplanned situations. This amount of free time will let you considerably decrease the level of everyday stress.

5.Focusing on tasks which are in fact not so important

There is always a temptation to fill your list with tasks which only seem urgent and important but actually do not play a big role in the long run. To achieve results, you need to see the whole picture and write down tasks with real deadlines (for example, important meetings) and those that have the most influence on your goals (for instance, work on the coming presentation).

6.No connection between tasks and end goals

Motivation depends on how the task is important for you personally. In these cases, we don’t have to summon up our spirits, we get down to work happily. Before starting to write your to-do list of important tasks, think for a moment, why you include this or that point there. If it relates to your long-term goal, you will work on it with more enthusiasm.

7.Torturing yourself with thoughts on undone tasks

At the end of the day, the list of important tasks is not a question of life and death. That’s why don’t torture yourself and start each morning with working on three most important tasks for the day.

- - -

As always, we are trying to be interesting and useful for you, that’s why your opinion matters. Please tell us, did you find this information interesting, would you like to read similar advice in the future?
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All of us heard many times that cryptocurrencies are only good for trading in the darknet and for laundering money. We sometimes even get requests from journalists to give comments on such questions about illegal deals with cryptocurrencies.

But let’s sort out, can bitcoin be really used for money laundering?

I think there is no need to explain what money laundering is about – it is done to give criminal money legal status and to “cover the tracks”.

Cryptocurrency sphere with its decentralization, anonymity and almost instant transactions may seem to have become the favorite place for all kinds of financial fraudsters. But there are a few problems with that.

1. Volatility of most cryptocurrencies
Although for traders constant price surges serve as a great opportunity to profit, for people using digital currencies as a medium, a fall by 10-20 per cent can be a very serious risk.

2. Difficulty of converting cryptocurrencies into fiat currencies. More and more often the exchangers and exchange markets follow the principles of KYC, CFT and AML. Cryptocurrencies still have a half-legal status in most countries. If a considerable amount of money is transferred into cryptocurrencies, after all the stages of laundering, these cryptocurrencies will need to be transferred back into cash money. That’s how, ironically, half-legal status of cryptocurrencies protects them from criminal activity.

3. The majority of digital currencies are not at all anonymous. All transactions made in blockchain are reflected in a public ledger, where everybody can track from which account the transaction was made, how much money was transferred, and by which account it was received. No, these accounts are not connected to names and surnames, but these are easily trackable by IP. There is a limited number of currencies the main task of which is totally anonymity of transactions (Monero, Zcash, Verge and others). But the result of this anonymity is, as a rule, longer time of transaction and its higher price, and difficulty of conversion due to lower liquidity.

It cannot be absolutely excluded that bitcoin might be used in illegal deals, as any currency in the world, in cash or in a cashless way. But incredibly much more often it is the cash, in particular, dollars, which is used when financing terrorism of laundering money, but the very thought of banning cash sounds absurd.

Notwithstanding all the novelty that comes with cryptocurrencies, the most anonymous and safe way of transaction is giving money from hand to hand. That is why the majority of illegal deals are done with the use of cash. As before, using cash remains more anonymous and complicated for tracking than most of cryptocurrencies.

And what do you think? Do you believe that cryptocurrency is only good for illegal deals?

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What did people use for trading before money was invented? Find out how the first coins were created, why paper money was first introduced and all the discoveries and social changes that led to our current monetary system.

Before money people used bartered goods as payment; for example, animal hides and teeth. Livestock was the most valuable commodity. Shells were also used; snail shells were very popular in China. Other goods used for payment were tools, beads, salt, crops, weapons and tobacco.

The first standardized coins were created in what is now western Turkey by King Alyattes around 7th century B.C. They were made of electrum, a naturally occurring amalgam of gold and silver. In Rome, coins were minted near the temple of the goddess Juno Moneta, which gave us the words "mint" and "money". Offa, an Anglo-Saxon king, introduced the first English coin known as the penny around 790 A.D. Because of a copper shortage, China introduced the world’s first paper money in the 9th century - 700 years before Europe did so. In the 1500s the St. Joachimsthal mine in what is now the Czech Republic introduced large silver coins called thaler. The Spanish version of the thaler became the first worldwide currency. The English called it the dollar, and the U.S. dollar was based on it.

Modern Money. The first U.S. government-backed paper bills were introduced during the Civil War. The term "greenback" comes from the intricate designs on these bills, meant to prevent counterfeiting. The largest bill in history was the 1946 Hungarian 100 million Pengo; the name was spelled out on the bills since so many zeroes couldn’t fit on the banknote, but it was only worth $0.25! The $100,000 1934 Gold Certificate was the largest bill ever made in the U.S. It was used for Federal Reserve transactions and not released to the public. The largest coin ever minted was in Australia in 2011 weighs about a ton. A U.S. nickel weighs just 5 grams—roughly as much as a hummingbird. As of 2018, there are 180 different currencies used around the world.

Bitcoin, invented in 2009 by the pseudonymous Satoshi Nakamoto, became the gold standard--so to speak--for virtual currencies. Virtual currencies have no physical coinage. The appeal of virtual currency is it offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies.

Despite many advances, money still has a very real and permanent effect on how we do business today.
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Back in February, the Shift Card service, which used to issue debit Visa cards with a possibility of using cryptocurrencies, announced their closure.

But the service was succeeded by one of the largest cryptocurrency exchanges Coinbase. The representatives of the exchange announced launching debit Visa cards with a possibility of payment with cryptocurrencies from the exchange account of the user.

It is announced that Coinbase Card will support all cryptocurrencies available at the exchange, and the users will be able to spend them on any purchases, whether it would be food in supermarkets or public transport tickets. The conversion process will be automatic and instant at the moment when the user makes a transaction using the card.

The exchange’s clients will be able to choose the cryptocurrency they are planning to spend on purchasing goods with the help of a special mobile app. Moreover this app features an option of receiving a check, viewing transaction and purchases categories.

The British payment operator PaySafe will be issuing the cards. For the time being only the UK citizens can use the service, but in a few months Coinbases is going to implement their innovation in other European countries.

And what about you – would you like to have such a card? Is there a sense in such cards?
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Today we carry on with our crash course for beginners in the cryptocurrency market. We will tell about technology that underlies almost every cryptocurrency and about the features of this technology.

Blockchain technology differs from a traditional data base by the principle of organizing information. Classical data base is hosted on servers specially designed for it and these servers are controlled by organization that owns this data base. Blockchain is not controlled by a person or organization and its security is ensured by its distributed architecture.

Block technology allows different sides not having trust for each other to exchange data without the central server. Processing and storage of transactions is carried out by all users at once. After adding data to the network by one of the participants, all other nodes of the network are used to check and confirm the correctness of these changes. In a decentralized blockchain the information is stored on all computers of all users at once, and not on a single server, which protects the network from hacking and data spoofing.

The more network participants and nodes, the more data copies. To change data in this situation one need to hack every single node in the network and modify all data simultaneously. Every block in a chain has a certain block of data, and when this block gets filled, the data gets encrypted and written in the network forever. To change data in any transaction, hackers would need not only the current block, but also all the next ones which is not only practically impossible, but also too expensive.

Adding blocks is carried out using cryptographic methods of protection and this guarantees the reliability of data without a universal processing center. However, constantly growing size of the chain of blocks can make its storage and synchronizing more difficult.

If data that is relevant only for the current time, is recorded in the usual database, the blockchain stores operations for the entire history of its existence. The system is designed in such a way that all transactions remain unchanged - they cannot be deleted.

Given its characteristics, the blockchain technology offers the ability to create enterprises and carry out operations that are quite flexible and safe. Today, the blockchain is beginning to be actively introduced into banking systems, property registration systems and various state registries, supply chain management, and in such areas as digital identity, energy, voting, games, the Internet of things and other.

You can find a good exchange rate for buying any cryptocurrency on our website BestChange. com.

Would you like to know more about this technology? Maybe you’ve got some questions about blockchain? Please ask in the comments and we will find the answers together.
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Please check out our service and have a great exchanging experience at: https://www.bestchange.com/

We are in social networks:

Page on Facebook – https://www.facebook.com/bestchange/

Reddit channel – https://www.reddit.com/r/bestchange/

Twitter channel – https://twitter.com/bestchangeeng

Page on LinkedIn – https://www.linkedin.com/company/bestchange

Profile on Instagram – https://www.instagram.com/bestchangeeng/

Telegram channel – https://t.me/bestchangeeng

Medium channel – https://medium.com/@BestChange

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From the date of its creation in 2009, Bitcoin is an open-source project. But despite all its openness, up to date no one knows, who is the person behind the creation of Bitcoin and who is Satoshi Nakamoto?

Let’s elaborate on what is known so far. The first step was taken in 2007 with the writing of Bitcoin code. In November 2008, a programmer, or a group of programmers, using the name of Satoshi Nakamoto published the whitepaper on the Cryptography Mailing list. It was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and paved the way for the Bitcoin protocol.

On January 3rd, 2009, the first Bitcoin block ever was mined. A few days later Nakamoto released the updated 0.1 version of Bitcoin software with some minor bug fixes.

In the beginning, a person calling himself Satoshi Nakamoto was heavily involved with the Bitcoin community and helped them modify the underlying bitcoin protocol on the website Bitcoin.org, he – or she – had created. Satoshi remained a mystery, as the person behind this name did not reveal any personal information during the entire time of cooperation with other developers. After two years of active collaboration, Nakamoto handed the reins to Gavin Andresen, and ceased any involvement with the Bitcoin project in December of 2010.

In April 2011, Nakamoto emailed a software developer that he had “moved on to other things,” and that Bitcoin was “in good hands with Gavin and everyone.” From then on nobody has heard anything from Bitcoin’s secretive creator.

The mystery behind Nakamoto’s identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 1975. To this day, it is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals. Satoshi is quite a common Japanese name, and Nakamoto, though not being a top popular surname, still isn’t rare.

But the fact that his Bitcoin documentation hasn’t been published in Japanese and his perfect knowledge of English, with a twang of British English, created some suspicions among other Bitcoiners.

Some community members analyzed Nakamoto’s activity on the bitcoin forum, and their findings reveal that the chart of timestamps would suggest an unusual sleeping pattern for Japan, but be more characteristic of that of in the UK, hence giving away possible location of the posts’ author. The media has also done its digging in looking for the person behind the name Nakaomto. But the candidates they have dug up have rejected any credit for the invention of Bitcoin so far.

One thing is clear, the key to his disappearance and secrecy is possibly his huge wealth. Imagine holding 7.5 per cent of the world’s bitcoin and not being able to spend any of it.

Spending this Bitcoin on an open and transparent blockchain would be akin to coming out. Not only would every government in the world know who you are but also some very unsavoury elements who could cause you real potential harm.

The mystery of the inventor of Bitcoins remains unsolved today, but his cause is continued by the many brilliant developers of the Bitcoin community.

As always, we at BestChange.com are trying to be interesting and useful for you, that is why your opinion matters. Please tell us if you find this information useful and what other topics would you like us to cover?
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During the weekend our Chief Analyst decided to calculate how much on average a person could have earned on bitcoin for the last 5,5 years.

Of course, the received data cannot be absolutely accurate — otherwise we would have needed to get an access to all transactions of exchanging, appearance and disappearance of all existing during this time exchanges and exchange offices, information about private exchangings.

Our method is based on comparison of all possible options of purchase and sell for the last 1963 days (during the period between 27/12/2013 and 12/05/2019). We took all 1'925'703 possible options of purchase and sell at the average price on this day and multiplied it on the probability of making a transaction on this or that day. We established probability based on trading volume in this pair of days as relating to all trading volume for 5,5 years. We did not take into account trading within the day and possible private exchange operations. All data is available publicly and can be viewed on the site coinmarketcap.com

According to our calculations, if the number of investors will tend to infinity, then on average all these investors that bought and sold bitcoin on random days for the past 5,5 years, have earned 180 per cent of their capital. It does not mean that you can earn the same in the future, or that the majority of investors have earned, and not lost, on bitcoin in the past. This is just an approximate number the investors could have earned on average during this time (somebody lost 80 per cent, when another earned 1000 per cent).

Currently bitcoin shows remarkable results again and has already overcome the $8000 mark. If you decide to buy bitcoin at the best rate, you can always find the most profitable option with the help of our monitoring BestChange.com.

Would you find interesting calculations for other cryptocurrencies? Maybe you have advice or wishes how to improve our method?
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Did you know that only one third of mined bitcoins participate in the turnover? The rest of bitcoins do not move among the wallets.

Of course, this can partially be blamed on hodlers, but it is highly likely that the access to inactive wallets was simply lost or the coins were forgotten by users.

The reason for that could be a loss or breaking of private key containers, impossibility to restore passwords from online-service or their closure, incompatibility of hierarchical generation of keys and lots of other options. If you have lost a password/key to your bitcoin wallet, you won’t be able to restore it, this is how the system works.

But what about the fact that every 10 minutes miners create more and more new bitcoins?

There is a limit after which the growth of the total amount of bitcoin in the network will stop, and this limit is 21 million of coins. Moreover, every 4 years the amount of new bitcoins is reduced two-fold.

For the 10 year and a half of bitcoin’s existence there has been generated around 17,7 million of bitcoins, which constitutes around 84 per cent of their total amount. If the access to two thirds of the coins has already been lost, then around 9 million of coins are left in the turnover, 3 million coins out of which do not yet exist.

Even if we do not take into account the possibility of losing an access to wallets in the future, it still turns out that we may face a shortage much larger, that it seems at first glance.

If bitcoin ceases to be a speculative asset and turns into one of the main reserve currencies of the world’s central banks, its total capitalization will be less correlated with the actual amount of available funds.

For instance, if now bitcoin would substitute the US dollar as the main reserve currency and its capitalization was at the level of the USA national debt, then the price of one bitcoin would be a little over $1 million. And if we take into account that the real volume of bitcoins available for turnover currently is about 6 million of coins, then bitcoin would have to have the price of $3,5 million to be compatible with US debt by capitalization.

And do you believe in the future of bitcoin? What price deems fair for the cryptocurrency number one?

If you trust in the future growth of Bitcoin or other cryptocurrencies, our monitoring BestChange.com is at your service: with our help you can easily find the best exchanging rates for any e-currency and have a safe transaction.
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Posted (edited)

How Safe are Bitcoin Paper Wallets?

A bitcoin paper wallet is a public and private key printed on paper or a piece of plastic. It is an offline wallet and is referred to as a type of “cold storage”. This means that it is an extra-secure storage that is not connected to the Internet which can be hacked. Although its security can be debatable.

The piece of paper (or plastic) contains printed private and public keys, usually accompanied by QR code, which also serves as the address. You can simply copy and paste the keys onto a text document and print it out (making sure to delete the document from your PC). You can also use free online services that generate the printable wallet. The key generation is usually done in your browser, so they are not transmitted on the internet. But to be on the safe side, you are advised to clear your browser after printing. Keeping an image of the paper wallet on your computer or phone is a definite no-no.

Some paper wallet services offer a handy design that you can cut, fold and seal, making them a lightweight and relatively secure form of storing your bitcoins offline. You send your bitcoin to the public address displayed on the wallet, and then store the paper in a secure place.

The security of paper wallets stems from the fact that they
are absolutely offline, and hackers cannot reach them. But, on the other hand, you need to keep this piece of paper secure to protect your funds.

There is a risk that somebody can find your printout and withdraw your funds without your knowledge.
As an extra precaution measure you can fold the printout covering the private key and seal the fold with a tamper evident seal.

Also, you need to bear in mind the physical vulnerability of the material. To protect the paper wallet from water (for example, in case of flooding) you may want to keep the printout in a sealed plastic bag. But there does not seem to be a good protection against fire.

But these risks are not very likely, use common sense to keep your wallets safe the way you would jewels and ordinary cash. In general paper wallets are by far the safest option to store your digital assets.

Whatever your preferred method of storing e-currencies, you can always buy or sell your crypto money choosing the best rates at bestchange.com !
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Blockchain and bitcoin based on it, as any new revolutionary technology, have their drawbacks. The mechanism of ‘proof-of-work’ consensus uses enormous volumes of electricity, cryptocurrency is used for speculations and sometimes in illegal activities.

But to say that because of that the technology faces a failure, is the same as saying in 1995 that the Internet will not work because it’s clumsy and unorganized.

Bitcoin has been living for over 10 years now despite numerous predictions of its demise. And it is constantly developing. The first cryptocurrency is no longer a “toy for geeks” as it used to be in 2009. Today Blockstream satellites allow making bitcoin transactions even without Internet.

Blockstream company which deals with bitcoin blockchain pilot projects and New Zealand developer goTenna have united their efforts to improve the project that allows sending and receiving bitcoins without Internet with the help of data translation via satellites using radio frequencies which are supported by goTenna devices.

The users will be able to receive bitcoins via satellite and goTenna Mesh network without direct connection to the Internet. If you do not like the control of the local provider or your connection is down for some reason, for example, because of a natural disaster, you will still be able to make a transaction.

With all the innovative features, this technology is quite easy to use. With an electricity generator, satellite dish, Raspberry Pi, a Wi-Fi point and the necessary software you could make global bitcoin transactions.

At first sight, it sounds rather expensive. But if you divide the expenses among people, for instance, if the whole village chips in for the purchase of the equipment, the costs are not so high. To use this service, you need a small satellite dish that uses USB port to connect to PC or specialized equipment such as Raspberry Pi. To manage connection, you can use free software with open source code, for instance GNU Radio.

And the service itself has demonstrated “excellent” uptime and its network has excess capacity to ensure reliability.

And do you still think that bitcoin does not have any future and nobody uses it?

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Blockchain is not a financial pyramid.

To see this, one should understand what a financial pyramid (also called an investment pyramid) is. This is a system for receiving profit via constantly attracting money from new participants. That means the profit of the first participants is paid at the expense of funds of their followers.

It is obvious that if bitcoin does not have any dividend yield, that is, if you do not receive additional funds just because you own cryptocurrency, then bitcoin, as most of other significant cryptocurrencies, cannot be a financial pyramid by definition.

Then why such confusion? Most likely that the reason behind such a poor analogy was the poverty of intellect in most cryptocurrency critics after the events of 2017. They did not even try to learn about the principles and technologies behind cryptocurrencies but started without any reason calling them a financial pyramid. Partially they can be understood, because the previously unknown project that made it possible for people to increase their capital several times over a few months sounds very suspicious.

But what happened is that people earned profit due to the increase in the price of the active, and not because of the means of new users. Yes, to some extend it was the dramatic increase of popularity that brought about price increase, but these concepts should not be confused. Situations when demand starts to dramatically exceed supply are always accompanied by similar price increase. These can be company shares, investment fund units or even salt that can rise in price against the backdrop of false rumors. Price increase due to the growth of demand is a typical market situation, and not a disguised financial pyramid.

That being said, blockchain-based pyramids can sometimes be found, for instance, PonziCoin and Bitconnet. But these are particular cases of the misuse of the technology in creating a financial pyramid, and not vice versa.

It should be noted that there are financial pyramids that are disguised as cryptocurrency projects, only exacerbating the suspicion of inexperienced crowd. For example, they can promise profit thanks to a “unique trading robot” that multiplies your investments, or something of this kind. Of course, they have nothing to do with cryptocurrencies, and the illusion of work is maintained at expense of new client’s investments.

We hope that we have made our point clear. And what other unreasonable definitions of bitcoin have you come across? We would be happy to discuss it with you in our next articles.

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Cryptocurrencies were originally envisioned as a decentralized payment means, independent of fiat money rates and not tied to traditional valuable assets.

This peculiarity adds cryptocurrencies a characteristic feature — high volatility of the rate. Many folks gain thanks to this feature, but the possibility that the rate can dramatically drop or leap hinders the usage of cryptocurrency as a full-fledge payment means.

In order to regulate the rate, it was decided to tie up cryptocurrencies to stable assets that have long been established in the economy. Thus, they began to tie up the value of cryptocurrency to fiat money, gold and oil. Digital currencies can be tied up to any valuable asset or commodity which can make their value more stable.

Cryptocurrencies pegged to physical assets have a lower rate volatility and became known as stablecoins. Stablecoins are a compromise between fiat money and cryptocurrencies.Most often, the value of a stablecoin is pegged to fiat money. The value of these coins is equal to that of fiat currency and represents a sort of a promissory note. Every coin is leveraged to one unit of fiat money, for instance, dollar, which acts as a guarantee and provides for the value of the currency.

The most popular stablecoins are:

Tether (USDT) * USD Coin (USDC) * TrueUSD (TUSD) * Paxos Standard Token (PAX) * Dai (DAI)

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Did you know that in its modern form, credit card appeared back in 1949? Originally nobody took them seriously, but within the next few years they literally conquered the whole world.

The first universal credit card, which could be used at a variety of establishments, was introduced by the Diners’ Club, Inc., in 1950. Another major card of this type, known as a travel and entertainment card, was established by the American Express Company in 1958.

Today billions of people around the world use bank cards. The share of cashless payments is gradually growing, and they become a usual and more convenient method of payment.

According to statistics, for the year 2015, debit card usage accounted for 69.5 billion in payments, dwarfing all other forms of non-cash payments including credit cards (33.8 billion) and checks (17.3 billion). One new debit card is issued in the U.S. every five seconds. There were 471 million Visa debit cards in the U.S. and 1.09 billion in the rest of the world at the end of March 2015.

How many bank cards do you have? How often do you use cash?

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Posted (edited)

The Amsterdam Stock Exchange is considered the oldest in the world. It was established in 1602 by the Dutch East India Company, which issued the first shares on the Amsterdam Stock Exchange. It was the first company to issue stocks and bonds and the first to formally begin trading in securities.

In the 1600's, the Dutch, French and British governments all gave charters to companies with East India in their names. At the peak of imperialism, it seemed like everyone had a share in the profits from the East Indian and Asian campaigns except the people living there. Sea trips that brought back commodities from the East were very risky - besides pirates, there were risks of weather and losing navigation.

To minimize the risk of a lost ship ruining their profits, ship owners had long been using the help of investors who would finance the trip - outfitting the ship and crew in return for a percentage of the profits if the voyage turned out a success. These early limited liability companies often lasted for only a single voyage. They were then dissolved, and a new one was created for the next trip. Investors lessened their risk by investing in several different ventures at the same time, thereby playing the odds against all of them ending in disaster.

When the East India companies formed, they changed the way business was done. These companies issued stock that would pay dividends on all the proceeds from all the voyages the companies undertook, rather than going voyage by voyage. These were the first modern joint stock companies. This allowed the companies to demand more for their shares and build larger fleets. The size of the companies, combined with royal charters forbidding competition, meant huge profits for investors.

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Edited by Best.Change
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Is a quantum computer dangerous for Bitcoin?

Many researches say that in less than 10 years сomputing machines using quantum principles will threaten blockchain technology which is a basis for cryptocurrencies.

Bitcoin and similar systems’ defense algorithm is based on a principle of asymmetric encryption with and open and private keys. Transaction is signed by a private key, and its truth is checked with a help of an open key.

Despite the fact that Bitcoin blockchain uses asymmetric encryption, the users don’t have to worry for the safety of their coins. The open key is not stored openly. Thus, the addresses for coins transferring are not open keys, but just the results of usage of hash-function SHA-256. The hashing function performs one-sided transformation and that’s why it’s stable against quantum computer attacks.

The public key is rendered to the network in the open way just until it receives a confirmation. If an attacker receives an open key during transaction, he will have around 10 minutes to get the private key with the help of a quantum computer and try to make his own transaction from the same address but specifying a larger commission.

By the way, bitcoin mining is also relevantly safe, as the equipment for mining cryptocurrencies in the near future will be more powerful that quantum computers.

It is worth to note, that quantum calculations threaten absolutely all systems of computer security which care based on cryptography with an open key, and not only blockchain. Internet connections to render your password in Internet banking uses a similar encryption technology, same as communication in chatrooms, social networks and lots of other routine actions.

All security systems, including blockchain systems, need to take into account postquantum encryption to ensure data safety. But the most simple and effective way can be changing traditional systems by such blockchain which implements quantum-resistant cryptography.

There are several different ways of encryption with open key resistant to quantum calculations: bases on matrix, on code, multidimensional quadratic functions, and hashing function. But let us not digress into detail math stories.

The main point is that if there is a serious threat to blockchain posed by quantum computer, developers can improve the protection. Moreover, successful research and developments in this regards are being done not for the first year.

What do you think, who will be the first in this race – bitcoin developers or quantum computer developers?

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Sometimes it is necessary to confirm that you are the owner of this or that address. This may be required when, for instance, the seller wants a confirmation of your solvency, when recovering a hacked or lost account, or to prove that it was you who made a transfer and not somebody else.

Only owning a private key can prove your ownership of a bitcoin-address, but at the same time you cannot give away your private key: anybody with an access to it can spend your funds.

To solve this contradiction, a special function was developed – “signing a message”. When you sign a message, you can prove that you own a certain address and manage its funds. At the same time, secret information is not revealed, and no risk is posed for the funds at this address.

Creating a signature for any message is possible with lots of bitcoin-wallets. You will need to specify the address you need to confirm, and a message. The text can be of any nature, but it’s preferable it would tell something to the recipient. We advise you to always put the date and the reason of the message. If you sign any message without the specifics, somebody else might use it and pretend to be the owner of your address.
 
After signing the message, you can give the message with your signature to the other participant which will prove your ownership of the address. To check the signed message, it is possible to use a wallet or other resources.

Have you ever used this function? Have you heard about signing the messages for cryptocurrency wallets?

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What are the Advantages of Cryptocurrency?

Over the last couple of years, cryptocurrencies gain more and more popularity. Let’s touch upon some of their main advantages in comparison to fiat money.

1. It is decentralized and does not rely on banks or governments. Transactions can take place in different parts of the world and take seconds, without the need to pay hefty charges to banks.

2. Because cryptocurrency is decentralized, it’s immune to deflation or inflation that can happen as a result of the choices of a central government.

3. Anonymity is one of the most important perks of cryptocurreny. You do not need to reveal your identity.

4. Anybody can make money through the process of mining. All what’s needed is access to a computer and the internet.

5. Because the cryptocurrency market is highly volatile it can be a high reward (but at the same time, high risk) investment.

6. Cryptocurrency is not subject to inflation. With coins like bitcoin there is a set amount that will ever be created.

7. And last but not least, since cryptocurrency exists in digital form, millions of trees can be saved by not using paper currencies. It can contribute to our environmental well-being.

You can purchase or sell cryptocurrency at BestChange – we guarantee the smoothest exchanging experience, saving your time and money!

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Exactly 63 years ago on July, 30, 1956, the slogan “In God We Trust” appeared on American dollars.

Moreover, the phrase is an official motto of the USA.

The first time the motto was used in 1864 when minting 2 cent coins, but it was adopted on the national level in 1956.

Sometimes the phrase is jokingly extended to “In God We Trust, All Others Pay Cash” which shows economic attitude of Americans, and shopkeepers would use it to discourage credit.

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Dear readers and users of our platform, we have two pieces of good news.

1.  From now on, the offers of the exchangers are accompanied not only by a minimal, but also by a maximal exchange amount.

To see the maximum the exchanger is ready to exchange, all you need to do is to hover the cursor over the line (on mobile devices it is needed to touch and hold a finger on a selected line for some time).

We would like to remind you that the current reserves of an exchanger may be lower than a maximal exchange amount, please pay attention to this when selecting an exchanger or use the “Calculator” tab to sift out exchangers that are not suitable for you.

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2.  Against the backdrop of a significant flow of USDT tokens capital to the Ethereum blockchain, many large exchanges have already added support for ERC-20 standard tokens.

Now in our monitoring BestChange.com you can see two types of tokens USDT-Omni and USDT-ERC20 separately from each other with their unique exchange rates and reserves.

We would like to remind you about the difference between these tokens:

Tether Omni — these are USDT tokens launched on omni layer protocol based on Bitcoin network. Its address is a BTC format address.
Tether ERC20 are USDT tokens launched on ERC-20 protocol standard based on Ethereum network. Its address is an ETH format address.

The users are recommended to carefully familiarize themselves with the type of tokens before making any exchange operations. If you have any questions about the used standards, please contact the support service of the exchanger before making the exchange.

As always, you can find the best exchange rate for the most popular currencies on our site. BestChange.com, exchangers monitoring is always at your service.

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ℹ️The cost of bitcoin transaction fell by almost 90%

BTC trades almost reached the level of the end of 2017. This is the period when the main cryptocurrency began its famous rally, the peak of which was the increase in the coin rate up to $ 20,000. According to the information of Bitinfocharts service, since that moment the cost for transactions has dropped by almost 88%. In December 2017 commission was around $10-30, and now it has fell down to $0,58 on average. It can be due to considerable popularity of processing operations of BTC transactions at the end of 2017 in comparison with today. Then up to 400 000 operations went through the network daily, when now this figure has dropped to 300 – 350 000 transactions. Another factor influencing the commission cost is the growing popularity of SegWit protocol, the share of usage of which has recently exceeded 60 per cent.

ℹ️Transparent Volume experts: Only 17% of bitcoin transactions do not raise suspicion

According to the new service Transparent Volume of the Nomics cryptocompany, the majority of transactions with the main cryptocoin are suspicious. The experts say that only 17% of BTC operations can be considered genuine. Around 35% of transactions are evaluated within the range from “satisfactory” to “bad”. The total amount of such operations today has reached $3,99 billion.

Transparent Volume is created to monitor the circulation of digital asses between different platforms. It works in real time. Nomics believes that usage of Transparent Volume will help users obtain full and objective information about current trade volumes. The service positions itself as a platform whose work is associated with lesser risk of recording information about fictitious transactions and other misleading facts.

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There are prospects: forecasts of digital currency market participants

This week was full of various events for both participants of the cryptocurrency industry as well observers. Here are some expert comments on the current development of the digital asset market.

On Monday Yves Mersch, Member of the Executive Board of the European Central Bank (ECB) criticized Facebook’s Libra.”Libra could reduce the ECB’s control over the euro, impair the monetary policy transmission mechanism by affecting the liquidity position of euro area banks, and undermine the single currency’s international role” . The official has also noted that Facebook’s cryptocoin will in fact be accountable to shareholders, raising trust issues, as it will not be backed by a central bank. Mersch called on regulators to take tight control over Facebook’s projects, and for users not to trust the tempting but questionable promises from the representatives of the American company.
Meanwhile, Jack Dorsey, the head of Square payment start-up and Twitter co-founder, continues to insist that cryprtocurrencies will continue to spread. The businessman believes in bitcoin, but he thinks that it is still too early to call it currency. In one of his latest interviews Dorsey notes, that bitcoin’s rises and falls in prices are more characteristic of a investment asset, such as gold. He hopes that as soon as the cryptocurrency becomes the currency of the Internet, his own start-up will pay more attention to services that create added value, rather than those that are engaged in money transfer

Mark Mobius, an investor in developing markets and Mobius Capital Partners founder said that gold-backed cryptocurrency can be an interesting phenomenon. The investor emphasized that there is a whole generation of people who have faith in the internet, and they have faith in cryptocurrencies.
“People believe in dollar because they have faith that with dollars in their hands they can buy something. Crypto enables people to buy something merely because they believe it has value”, Mobius said.

In the beginning of the week trader Peter Brandt tweeted that bitcoin has entered the fourth cycle of the parabolic uptrend that could lead it significantly past its all-time high price. The analyst is confident that the price of Bitcoin will reach one hundred thousand dollars in the long run. And although this bold prognosis does not yet have lots of supporters, one can’t ignore the fact that the price of the main cryptocoin is showing steady growth since Monday.

According to Coinmarketcap, by September,6, bitcoin rose in price up to $10 875, starting from the mark of $9 623 on the night of September,2.

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