• The Basics.

What is Bitcoin? In short – it’s a decentralized digital currency. That means no government or bank controls it. Partially cutting out the middleman, it should allow for safer transactions over the web, which sounds very enticing for myriad reasons. The technology that governs those transactions is called a blockchain. The currency can be ‘mined’ by those willing to lend their hardware for the needs of the system (processing transactions and securing the network, for example).

• The Origins.

It may seem that Bitcoin appeared out of nowhere, but it is the oldest of the cryptocurrencies and this makes it the most valuable one as well. Bitcoin is almost 9 years old at this point, and dates back to 2008. This is the year, when the first proof of concept was published by the creator of the currency – Satoshi Nakamoto.

• The Creator.

If you want to know more about Nakamoto, well, you’re not the only one. That name is just a pseudonym adopted by the mysterious demiurge. No one has been able to confirm the real identity. A number of people stepped up to claim the title, including an Australian businessman and computer scientist Craig Wright, but none had the evidence to back up their claim. Real Nakamoto moved on from the project back in 2010, and has not surfaced since. Whoever that is, that person can definitely afford the anonymity, as they are estimated to own almost a million Bitcoins.

• The First Transaction.

First documented Bitcoin transaction was made back in May, 2010, when Laszlo Hanyecz (who went by the pseudonim laszlo) purchased two pizzas for 10,000 Bitcoins. At this point, that would be more than $170 million.

• The Future.

It’s difficult to say what the future has in store for the first cryptocurrency. Its latest gains have been utterly staggering, but the jury is still out on whether or not this is indeed the future of finance. Bitcoin definitely has its proponents, including Tim Draper and Winklevoss twins, who invested considerable sums into the currency, but there are quite a few detractors as well.  Famously, Warren Buffet advised investors to “stay away” from it.

If you do want to understand all the intricacies of the world of cryptocurrency and understand whether or not this is something you are interested in, you’ll need to find a reliable source of information. And our blog will be happy to provide it.

The temptation is always there, but I would argue that it has rarely been as evident as it is now. In the rapidly evolving digital landscape new ideas come and go in a blink of an eye. And each trend seems to get an alarming amount of ‘experts’ with a business lifespan of a fruit fly. That was as relevant in an era of Facebook ads as it is in the new Bitcoin utopia.

Far be it from me to disparage any of you from pursuing your goals in an emerging profitable field, but I would advise approaching every such venture with respect and care it deserves. So, what are the basics of the successful business?

• Foundations

Do not disperse your attention. Formulate your goals and core values from the outset and let them pave the way from what’s to come. You are your most important asset, and trying to cover as many bases as humanly possible will not help your case, especially early on. Being first can be a tremendous advantage, but it only helps if you have tenacity, insight and acumen to build on that. Otherwise, you’ll be left on the forest floor, feeding the emergent growth while slowly wilting away.

• Information

Get educated in the topic and industry you want to pursue. Don’t simply rush into something promising without the clear understanding of what the risks are. No formal education will make you a business savant, but you should never underestimate the power of information. There are few things worse for an entrepreneur than following someone blindly, even if they promise you a city where the streets are paved in gold.

• Connections

Few of us are truly solitary creatures, and no serious entrepreneur can afford isolation. Your relationships are both your opportunity network and your safety net. The trends come and go, but the connections you’ve established with partners, affiliates and business associates last. When push comes to shove, you need someone that has your back, and that’s not something you can get while hopping from one opportunity to another.

• Marketing

No matter how good your business idea is, you need a marketing plan. That’s not optional. Luckily for you, getting the word out about your business has never been easier. Social, SEO, content and email marketing are all very accessible these days, and neglecting the opportunities they present you with is borderline criminal. Leads are essential for ensuring a steady revenue stream, and obscurity will bury your business faster than any crisis.

Every trend is an opportunity – there’s no denying that, but you need to know what you are and what you want. Some opportunities are better left to others. Always aim to move forward, and constant lateral moves won’t help you with that.

This is not the first foray into the Blockchain technology for the foundation, as they have been researching it at least since 2015. Their Level One Project aims to integrate the poor people around the world into the larger economies by making digital finance more accessible around the globe.

The latest initiative is called Mojaloop, and, according to the official press release, this is what it intends to provide:

Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool.
Kosta Peric, Deputy Director, Financial Services for the Poor, at the Gates Foundation

Mojaloop incorporates Ripple’s Interledger tech, but it’s far from the only financial technology partner involved in the project. The Gates Foundation has proven to be an effective unifying force in the past on a number of similar projects, which makes this attempt to bring inclusivity and interoperability into the world of digital finance an incredibly promising venture.

If you look at what has happened in the past when it comes to reaching those type of heights, be it tulip bulbs or a bunch of other things over the centuries, the odds are against those who actually think that this is going to be the future.
Stefan Ingves, Governor of Sveriges Riksbank

So, what should we expect if this cryptocurrency surge is indeed a bubble?

The prices will most likely fall and become a lot more stable. Current volatility actually works against the cryptocurrency’s main purpose – facilitating access to the financial services. If the cost of blockchain transactions can increase tenfold or more in a very short period of time  due to the price hikes that become rather common, how can we expect to build a stable foundation for anything?

A significant number of currencies will fade away into oblivion, leaving only the most common and stables ones. Bitcoin and ethereum appear to be the two most likely survivors at the moment. There seems to be enough momentum behind those two to keep them afloat even in the grimmest scenarios. Provided the volatility issue is dealt with, these currencies can indeed become a significant part of our financial future, even if traditional banking is not likely to disappear altogether.

Stay updated on the latest cryptocurrency news by tuning into our podcast. Here, we discuss the hot topics of the day and look into the future to see what currencies will make the best investments and which ones you should avoid at all costs.

It’s certainly a contentious issue, especially in the modern world where elections can be swayed by the social media campaigns. Who, if anyone, should be able to control our social media presence?

Quite a few people would argue that governments and corporations should not have a say in what we do in our private lives. And a decentralized social media platform might be the way forward. Currently, the best way to achieve that seems to be the technology behind the cryptocurrencies – the blockchain. And this is not the stuff of a far-fetched future.

onG.social is gaining momentum and has a chance to revolutionize the way we interact with social media. It claims to be both simpler and fairer to the end user. Backed by IBM since 2014, the emergent platform promises stability and security along with rewards for the most prominent contributors. The content posted on onG.social can be automatically mirrored on other social platforms like Facebook, G+ and LinkedIn.

Needless to say, this holds a lot of potential for businesses, as with this platform they will be able to reach new markets that have previously been inaccessible due to the state censorship.

Ultra HD, 4K, 8K Time Lapse Stock Footage Showreel 2012 – Night Rush Around the World 3 from HDtimelapse.net on Vimeo.

Despite the almost libertarian premise and a noble goal of complete decentralization, realistically, blockchain technology will not be able to avoid at least some level of government regulation. And while some of them seek complete control over the technology, others embrace it. Here are the countries that do more than simply accept blockchain tech:

• Singapore
• Switzerland
• Russia
• Estonia
• Gibraltar

From government-backed cryptocurrency like ESTcoin, to Switzerland’s ‘Crypto Valley’, you can learn how those countries support blockchain technology for our special video report.

RIALTO.AI – a self-described “arbitrage, market making and prediction trading” platform – enables traders to directly profit from volatility.  As the profits come from arbitrage, the bigger the differences between varying exchanges, the bigger the profit.

The underlying algorithms deigned by the team of signal processing experts, economists and data scientists detect the most insignificant price fluctuations that trigger chain trades involving multiple cryptocurrencies. This effectively means that the market is monitored 24/7, maximizing potential gains.

Another bonus is a dedicated trading AI, created by the team. This self-learning bot is meant to track transactions and specific addresses to predict major shifts in the market. This alone could make the platform extremely attractive to cryptotraders.

Forks can be confusing, and, allegedly, there are quite a few of them coming in the nearest future. While not all of them (or none of them) might come to pass, you should be prepared to the possibility and know how to manage your assets effectively in case they do.

A fork is a result of an update to the specific coin’s programming. And it can either be intentional and unintentional. Both can potentially cause serious price fluctuations, and it is difficult to say which one can be more damaging. In both cases, two ledgers are created, and if an unintentional or accidental fork is a result of an unforeseen bug that is, ideally, promptly eliminated. The intentional hard fork is born out of the decision by the developer to update the programming (which results in discrepancies between the older and newer versions of the coin), and, in that case, users need to upgrade in order to continue to use the currency.

In short, forks introduce uncertainty, and that often leads to panic. They potentially devalue the currency and can downright destroy the smaller ones.

If the fork does come, the risks are very real, so be prepared to lose some of the value. If you prefer to keep your bitcoins, you should be ready for the future.

First of all, make sure you control your wallet without any intermediaries like various custodial services (Xapo or Coinbase, for example). Not all of them support forks, and if you wish to continue using them, make sure you know their stance on the issue. However, creating your own wallet is probably the best solution.

Do not rush in to invest into new coins immediately after the fork. It is better to wait for a confirmation from one of the major players to start buying and trading with them. The times after the fork are rife with scam opportunities.

Not all of the forks end up being real, but it is a lot safer to assume they are. Bitcoin Gold actually happened despite having been dismissed by large parts of the community initially. So, don’t panic every time the fork comes up in the news, but be in control of your assets and exercise caution in case they do.

I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.
Milton Friedman, Nobel Prize Laureat