Tag Archives: digitalcurrency

Canadian Bitcoin in US?

Another day, another record high. There’s only really one story to cover today, and that’s bitcoin. Again. As I write it stands at $47,000. Yesterday saw its greatest up day ever. Why? Elon Musk –that’s why. The most popular cryptocurrency BTC=BTSP has gained 1,150% since its March 2020 lows, as institutional investors searched for alternative investments and retail traders rode the wave. It traded at a few hundred dollars only five years earlier. Glassnode, which provides insight on blockchain data, said in its latest report that bitcoin’s limited supply suggested further gains for the virtual asset.

Canadian Bitcoin and its future in the US?

Bitcoin’s liquid supply is continuing to decrease, as investors increasingly acquire and “hodl” the asset for the long term. “Hodl” is crypto slang for the act of an investor holding the asset instead of selling it. Currently, around 78% of issued bitcoin are either lost or being “hodled.” This leaves less than four million bitcoins to be shared among future market entrants – including large institutional investors such as PayPal, Square, S&P 500 companies, and exchange traded funds, Glassnode said.

Yesterday, Nasdaq-listed car manufacturer, Tesla (TSLA) announced that it has bought some $1.5bn-worth of bitcoin. The price (of bitcoin, not Tesla) duly shot up. It’s hardly a surprise. Last month, Tesla announced that it might hold some of its cash reserves in “certain alternative reserve assets including digital assets, gold bullion [and] gold exchange-traded funds.”

Then the world’s richest man added the bitcoin hashtag to his bio on Twitter. He began making cryptic comments. “In retrospect it was inevitable”, he said. He started posting memes about dogecoin, a cryptocurrency that was invented as a joke (yes, really), going to the moon. Then last week Musk said, during a conversation on Clubhouse, that he thought bitcoin “was on the verge of broad acceptance”.

China mostly banned Silicon Valley companies because of this reason

In such a tech era where everything is pinching towards digital medium, one cannot even imagine living life without websites such as Google, Youtube, Netflix or Twitter, China has banned all such foreign companies.

Ever since the Chinese Government banned Facebook in 2009, Mark Zuckerberg has been making annual trips there attempting to persuade its leaders to let his company back in. He learned Mandarin and jogged through the smog-filled streets of Beijing to show how much he loved the country. Facebook even created new tools to allow China to do something that goes against Facebook’s founding principles — censor content.

But the Chinese haven’t obliged. They saw no advantages in letting a foreign company dominate their technology industry. China also blocked Google, Twitter, and Netflix and raised enough obstacles to force Uber out.

Image result for silicon valley

Chinese technology companies are now amongst the most valuable — and innovative — in the world. Facebook’s Chinese competitor, Tencent, eclipsed it in market capitalization in November, crossing the $500 billion mark. Tencent’s social-media platform, WeChat, enables bill payment, taxi ordering, and hotel booking while chatting with friends; it is so far ahead in innovation that Facebook may be copying its features. Other Chinese companies, such as Alibaba, Baidu, and DJI, are racing ahead in e-commerce, logistics, artificial intelligence, self-driving cars, and drone technologies. These companies are gearing up to challenge Silicon Valley itself.

The protectionism that economists have long decried, which favors domestic supplies of physical goods and services, limits competition and thereby the incentive to innovate and evolve. It creates monopolies, raises costs, and stifles a country’s competitiveness and productivity. But this is not a problem in the Internet world.

china chip

Over the Internet, knowledge, and ideas spread instantaneously. Entrepreneurs in one country can easily learn about the innovations and business models of another country and duplicate them. Technologies are advancing on exponential curves and becoming faster and cheaper — so every country can afford them. Any technology company in any country that does not innovate risks going out of business because local startups are constantly emerging that have the ability to challenge them.

Chinese technology protectionism created a fertile ground for local startups by eliminating the fear of foreign predators. And there was plenty of competition — coming from within China.

Silicon Valley’s moguls openly tout the need to build monopolies and gain an unfair competitive advantage by dumping capital. They take pride in their position in an economy in which money is the ultimate weapon and winners take all. If tech companies cannot copy a technology, they buy the competitor.

Amazon, for example, has been losing money or earning razor-thin margins for more than two decades. But because it was gaining market share and killing off its brick-and-mortar competition, investors rewarded it with a high stock price. With this inflated capitalization, Amazon raised money at below market interest rates and used it to increase its market share. Uber has used the same strategy to raise billions of dollars to put potential global competitors out of business. It has been unscrupulous and unethical in its business practices.

Though this may sound strange, copying is good for innovation. This is how Chinese technology companies got started: by adapting Silicon Valley’s technologies for Chinese use and improving on them. It’s how Silicon Valley works too.

Steve Jobs built the Macintosh by copying the windowing interface from the Palo Alto Research Center. As he admitted in 1994, “Picasso had a saying, ‘Good artists copy, great artists steal’; and we have always been shameless about stealing great ideas.”

Apple usually lags in innovations so that it can learn from the successes of others. Indeed, almost every Apple product has elements that are copied. The iPod, for example, was invented by British inventor Kane Kramer; iTunes was built on a technology purchased from Soundjam, and the iPhone frequently copies Samsung’s mobile technologies — while Samsung copies Apple’s.

Facebook’s origins also hark back to the ideas that Zuckerberg copied from MySpace and Friendster. And nothing has changed since Facebook Places is a replica of Foursquare; Messenger video duplicates Skype; Facebook Stories is a clone of Snapchat, and Facebook Live combines the best features of Meerkat and Periscope. Facebook tried mimicking Whatsapp but couldn’t gain market share, so it spent a fortune to buy the company (again acting on the Silicon Valley mantra that if stealing doesn’t work, then buy).

China opened its doors at first to let Silicon Valley companies bring in their ideas to train its entrepreneurs. And then it abruptly locked those companies out so that local business could thrive. It realized that Silicon Valley had such a monetary advantage that local entrepreneurs could never compete.

America doesn’t realize how much things have changed and how rapidly it is losing its competitive edge. With the Trump administration’s constant anti-immigrant rants, foreign-born people are getting a clear message: Go home; we don’t want you. This is a gift to the rest of the world’s nations because the immigrant exodus is boosting their innovation capabilities. And America’s rising protectionist sentiments provide encouragement to other nations to raise their own walls.

For grade 10 students, what is Bitcoin?

Every one knows Bitcoin is a digital currency, is it enough to know? This blog will explain Bitcoin in such a way that grade 10 student can know what is actual Bitcoin. Money transfer has become easier than you can even imagine, all you have to believe in it.

First of all forget about merchants, agents. physical office, customer service number, calls, branches, complaint center or head office. It has simply NO EMPLOYEE.

How to use it?

You will have to log in to the website and make an account or install an app from play store and sign in. Let’s assume you have an account and one of your friend in states have an account of Bitcoin.

You owe him, for example, $200 Let’s assume 1 Bitcoin value= $100 so you owe him 2 Bitcoins. You have in total 10 Bitcoins in your account. Let’s assume he has 20 Bitcoins in his account. He will transfer 2 Bitcoins from his wallet to yours worth $200.

bitcoin.jpg

Feature:

NO transaction fees — No identity disclosed — transaction within a fraction of second — No merchant involved – immense convenience you have never imagined 

The point here usually comes to mind who is monitoring? Yes, there are people around in the different parts of the world observing your transactions without knowing your identity and they get paid for that which is also known as ‘Mining’ as simple as it could be.

There are some financial heads who think Bitcoins is just a bubble which will burst at some time, You cant help them as they have their own thought but on ground, in current time the value of Bitcoin in the United Kingdom is £13000 and in the US $ 17950 and there are around worth of 139 billion of Bitcoin 

Current value 2017

1 Bitcoin = £13000 UK

1 Bitcoin = $17950 USA