Blog / Page 38 of 39

How Does Illegal Activity Involving Bitcoin Affect its Price?

How Does Illegal Activity Involving Bitcoin Affect its Price?

Bitcoin has suffered from an image problem since its inception. Mainstream media, along with those who rely on it for information on the world around them, have rarely seen more than a quirky internet phenomenon that enables hackers to trade illicit data, drug dealers to operate complex international organizations, and anarchists to dodge taxes. The truth, however, is that bitcoin is a growing and thriving economy where almost any legitimate consumer good or service can be attained from someone who accepts bitcoin as payment.

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Blog / Page 38 of 39

Banging the Close: How Brokers are Playing with the Bitcoin Markets for Profit

Banging the Close: How Brokers are Playing with the Bitcoin Markets for Profit

There is a practice in the bitcoin mining industry that is affecting prices on public exchanges, impacting commerce across the entire cryptocurrency economy. This is the practice of over the counter liquidity provision. In layman's terms, this is when a broker offers large amounts of USD or other fiat for equally large amounts of bitcoin.

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Blog / Page 38 of 39

Why credit card companies fear Bitcoin

Why credit card companies fear Bitcoin

Credit cards have become the most popular medium for exchanging money in today's society. The largest credit card company is Visa, and they process $15 billion of transactions per day on average, with a total yearly volume near $5 trillion. Visa accounts for 40% of the credit card market, so the total amount of money transacted via credit cards easily exceeds $10 trillion each year. This is nearly as much as the gross domestic product (GDP) of the United States.

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Blog / Page 38 of 39

How secure is your Bitcoin password?

How secure is your Bitcoin password?

It's crucial to encrypt your Bitcoin wallet in order to prevent theft. This can be done by clicking on "settings" in the Bitcoin wallet menu and then choosing "encrypt wallet". Essentially when you encrypt your wallet you set a password. You can still see your wallet balance and receive Bitcoins without the password, but in order to send Bitcoin you need to enter the password. Hackers have designed many programs which steal wallet files off people's computers, and if your wallet is unencrypted and you download such a program your Bitcoins will quickly disappear. Once Bitcoins are sent to a thief it is impossible to get them back, so it is important to prevent the theft in the first place.

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Blog / Page 38 of 39

Are alternative cryptocurrencies worthwhile?

Are alternative cryptocurrencies worthwhile?

Bitcoin is the first true cryptocurrency, it was created in 2008 by Satoshi Nakamoto and since then has become extremely popular. Over $8 billion is invested into Bitcoin today, and there are over 60,000 Bitcoin transactions per day. Just about any product or service in the world can be bought with Bitcoin. The popularity of Bitcoin has led to numerous alternative cryptocurrencies, which are essentially copies of Bitcoin with some unique attributes.

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