Why do you need banks or any financial institution to accept bitcoin while there are tons of bitcoin wallets online? Anyway, i recently read on the paper saying Dubai authorized banks to exchange bitcoin, though i don't really know how that system works actually.

You are absolutely talking about the past because bitcoin price skyrocketed in the mid-November to the mid-December 2017 reaching up to $20,000. After that, the bitcoin price went through the market correction for about 2 weeks dropping down of 45% of the latest bitcoin price selling at about $11,600. Thankfully, the bitcoin is recovering very strong for the few days it is currently selling at $16300 today. I think the price of bitcoin will be fully recovered by the end of January.   

Well, there are few great wallets out there that are more user friendly and secure than both blockchain and coinbase. You should try Luno or Xapo, they are my best and favorites online bitcoin wallets so far.

Indeed, blockchain technology has so much potential and a very good role to play in the coming years because of that, I think blockchain implementations are going to be many in different fields from applied sciences to astronomy. And with blockchain technology there would be so many Decentralized apps (Dapp) coming in the future.

What Crypto Didn't Give Us in 2017



Without a shadow of a doubt, this past year has been huge for cryptocurrencies and the blockchain technology. Whatever the future may hold for Satoshi's brainchild and all that it has given birth to, 2017 will forever hold a singular position on the timeline of events in the crypto world.

But as a new year approaches, the urge to get caught up in all that has happened over the past 12 months could prevent us from considering what 2017 did not bring – and why.

Admittedly, it is hard not to be mesmerized by the numbers: the more than 1,300 cryptocurrencies, the $700-plus billion market cap they have produced or the eye-popping ICO raises of Tezos, Filecoin, Bancor and others – oh yes, and the gut-wrenching ride of bitcoin’s price as it climbed over $20 000 – and fell back down.

And yet, it is worthwhile taking a step back and considering what is still missing and what exactly this might mean for the year that is almost upon us.

1. We did not see mass adoption of blockchain for enterprise

While there has been plenty of talk about blockchain patents (Mastercard is one example) from big-name companies along with a surge in sign-ups to the Enterprise Ethereum Alliance, 2017 did not bring a whole-hearted embracing of crypto by established players across various industry verticals.

Some will point to concrete financial and technology implementation factors to explain this – "How can you invest in something that's still so immature?" and "If it can’t scale how can we depend on it?" – and certainly those may be valid points.

Education (its lack and its acquisition) also plays a role. On the one hand, many executives still do not grasp how it actually works and yet still want to dabble in the space, if only to use the hype for marketing purposes.

On the flip side, the more informed decision-makers in large corporations become, the more they realize how much the blockchain world challenges the very core of current systems and paradigms. For many, this knowledge makes them pull back and refuse to "take the leap."

I also suspect that – perhaps subconsciously – the hype surrounding ICO funding also served as a reactionary force, ironically as the very buzz that put bitcoin and blockchain on the lips of thousands also made many fear its disruptive force.

If the wave of token sales slows in 2018 and regulatory uncertainty clears up, this may change, and arguably it must change if cryptocurrencies and token economics are going to stick around for the long haul.

It may also depend on the outcome of the next point…

2. We did not see a clear distinction between blockchain, tokens and cryptocurrencies

No one in particular is to blame for this, but the fact remains: 99.9 percent of people outside the technical crypto/blockchain community associate blockchain with bitcoin and cryptocurrencies. Period. Unfortunately, this is enough to block adoption by many.

If anything, the huge ICO numbers that 2017 produced only reinforced this association as headlines around the world flashed dollar amounts with each new token sale.

The problem with this is that, to the wider world, it inherently reduces crypto to "a new way to make money through fundraising and speculation." This is, and will continue to be, a major handicap going forward.

I personally applaud voices such as that of William Mougayar and guests of his Token Summit series, who add more perspective to the discussion and differentiate the various levels of technology and token models.

For blockchain to reach its true potential, these distinctions will need to be made and explained.

3. We have not yet seen self-regulation take hold

With major attention focused on the SEC, FCA and Swiss FINMA, regulation has never been far from the crypto conversation over the last year.

And in the face of expected scrutiny, numerous self-regulation initiatives have been formed with the Crypto Valley Association announcing a Code of Conduct and Waves setting up a foundation for ICO standards, among others.

So far, however, these initiatives haven't produced much, with the afore-mentioned Code of Conduct still unpublished.

In some ways, this can't be surprising since it isn't hard to imagine "self-regulation" as a clever tool to, on the one hand, keep governmental watchdogs at bay, while promoting a "higher standard" which can be used for financial gain.

The coming year may, indeed, bring more visible results on this front – and it should – before scam projects over-multiply and influential advisors over-abuse their positions to artificially pump projects of little-to-no value, compelling governmental regulators to take over in full force.

4. We do not have inter-chain operability.

Finally, in a more technical note, inter-chain operability remains (for now) an elusive holy grail.

The past year saw serious efforts to tackle it. Polkadot grabbed most of the attention (and its creator as well, for different reasons) and Cosmos not far behind. They're not the only ones, though, with quieter projects like Block Collider working with unique angles on the same problem.

Maybe it seems unreasonable to expect inter-chain connections to come along so soon, even as blockchain and crypto continue to in their relative infancy. But if there is one thing that 2017 didn’t give us, one gaping hole that 2018 can fill, this is it.



Source: https://www.coindesk.com/crypto-didnt-give-us-2017/

What the 'Meltdown' and 'Spectre' CPU Flaws Mean for Cryptocurrency



Recently leaked computer vulnerabilities Meltdown and Spectre offer yet another reminder of how hard the digital age makes it to keep private information – even cryptocurrency private keys – safe.

Unveiled Wednesday, the widespread hardware vulnerabilities simultaneously impact Intel, ARM and AMD computer chips, which power the vast majority of the world's computers, mobile devices and servers, making it possible to steal private data such as passwords, financial information or just about anything stored on any device that uses one of these chips.

Where this is important for cryptocurrency in particular is, hackers can potentially use the specific attack vector to pinch the private keys that allow users to control their bitcoins on the blockchain.

Popular Mechanics called it a "horrific" bug, contending it's "hard to zero in on the most troubling part of this flaw," while an informational page authored by security researchers remarks that you're "most certainly" impacted by the bug.

And though there's no evidence that any passwords have been compromised, experts say it wouldn't be surprising if hackers or the NSA have been exploiting the attack.

If you're already following best practices for cryptocurrency storage, then you're probably fine. But if not, or if you're a newer user, experts say it's important to keep private keys on a safe device.

"Better safe than sorry," said Bitcoin Core developer Bryan Bishop told CoinDesk, adding:

    "An attacker who has knowledge of a sufficiently powerful vulnerability can theoretically force your CPU to reveal secret data such as private keys used to control your bitcoin."


Attack vectors

It's important to note that the advice to store private keys on a secure device is nothing new. (Crypto developers have long warned against storing private keys on laptops or other devices that interact with the internet.)

But the reasons why might not be obvious for newer users. Even though bitcoin and other cryptocurrencies are secure protocols, they must interact with the open internet and regular computers. In short, storing private keys so close to the internet can potentially expose users to hacks and theft.

And the new CPU vulnerabilities make the situation even worse, as a chain of actions can lead to error and compromise.

"If the protected memory problem is real, then a browser plugin or even a website may access your private keys," said Bitcoin Core contributor Jonas Schnelli.

The full details of the issue aren't yet public, so it's unclear what the precise attack vectors are. Still, others suggested a similar impact could be likely.

"To get hit by this attack, all you would have to do is click a link by accident and maybe you end up on a website that serves a bad ad with the malware code that steals your data," Bishop added.

And while these scenarios might sound far-fetched, most of today's malware pry on similar vulnerabilities that have yet to be patched. It's just impossible to know who and when they'll actually hit.

Operating system fixes are now available that users should use to patch up their Windows, Mac, and Linux devices. But, for cryptocurrency users, the better option is not to store private keys on an internet-connected device at all, a recommendation common far before this particular vulnerability.

One option is to store private keys on a so-called "hardware wallet," such as Ledger or Trezor. The small devices might not be quite as easy to use, but they are more secure in that their not connected to the internet.

Pavol Rusnak, CTO of SatoshiLabs, the company behind Trezor, went as far as to argue "Using a [hardware] wallet is now more important than ever!" While ethereum developer Lefteris Karapetsas quipped, "I bet Spectre and Meltdown is the best thing that could have happened for cryptocurrency cold wallet businesses."


Exchange treasure troves

Beyond solo consumer devices, a much bigger, more worrying target is cryptocurrency exchanges and businesses, which store cryptocurrency private keys for millions of users at once.

Some cryptocurrency exchanges use cloud hosting services such as Amazon Web Services and Google Cloud to run their websites, rather than spin up their own servers.

While these platforms make websites easier to manage, they are particularly vulnerable to these attacks. A hacker could theoretically spin up a server using the same hardware as a cryptocurrency startup running operations on such a cloud platform and suddenly have access to all of their data.

In the crypto world, a hacker could hypothetically use this attack vector to steal private keys.

On the one hand, many of the most popular cloud platforms quickly unrolled fixes. On the other hand, researchers worry that deep-rooted vulnerabilities could spawn unfixed variants, with possible lingering effects to come.


Source: https://www.coindesk.com/meltdown-spectre-cpu-flaws-mean-cryptocurrency/

Crypto Euphoria As Lemonade Making Company Buying Bitcoin Miners



A former iced tea and lemonade manufacturing company, Long Island Iced Tea, is investing in Bitcoin mining machinery. This move comes after the company watched its stock price jump 500% following a name change to Long Blockchain. The company made the name change two weeks ago, capitalizing on the Blockchain euphoria sweeping the globe.

The company has announced that it will offer 1.6 mln shares at $5.25 per share, hoping to raise $8.4 mln. The company’s press release indicated that the stock sale would allow the company to move into the Bitcoin mining business.

    "The Cryptocurrency mining equipment expected to ship in January 2018 for immediate deployment in experienced Nordic Data Center. This mining equipment is manufactured by Bitmain. Agreement with certain third parties to purchase 1,000 Antminer S9 mining rigs and 1,000 APW3++ PSUs.”


Euphoria?

Other companies have also seen massive stock price increases on relatively unimpressive news related to cryptocurrencies. For example, Longfin, a small cap stock, recently exploded in value - rising more than 1,300 percent - after announcing it would buy a defunct cryptocurrency.

Other industry experts agree that euphoria is gripping the industry, though they see the potential for real Blockchain use cases to continue to gain momentum. Dominik Schiener Co-Founder of IOTA told Cointelegraph:

    "The entire market as it stands today, is in a bubble with more than a few dozen projects having reached unicorn valuation. This obviously won't last long, as 2018 will be a year where we will see a major consolidation happening, with every project having to prove its merit not just to the market, but also to the public. After all, only the projects with real-world adoption and true value will prevail."


Source: https://cointelegraph.com/news/crypto-euphoria-as-lemonade-making-company-buying-bitcoin-miners

‘Go Beyond Headlines, Hype to Find Crypto Risks’ Urges Idaho Finance Chief



Idaho lawmakers have told the public to “look beyond the headlines” so they can “understand the risks” posed by investing in cryptocurrency.

In an official news release Thursday, the state’s Department of Finance (DATE) quoted director Gavin Lee saying investors should avoid “hype” when products or services involving cryptocurrency of any kind are involved.

He warned:

    “Investors should go beyond the headlines and hype to understand the risks associated with investments in cryptocurrencies, as well as cryptocurrency futures contracts and other financial products where these virtual currencies are linked in some way to the underlying investment.”

In issuing the warning, Idaho joins the growing regulatory patchwork in effect across the US, with different states adopting fragmented attitudes towards virtual currency. Alaska also entered the fray this week, with Division of Banking and Securities director Kevin Anselm telling residents to exercise caution.

    “We’re seeing a number of people contacted by sellers of virtual currencies or sellers that want people to get in on initial coin offerings, including virtual currencies.”


Year of Bitcoin?

At the national level, traders are waiting with bated breath for what may be a breakout year for Bitcoin-related financial instruments in 2018. The long-awaited Bitcoin ETF could be approved this year, rumors have suggested, following strong sentiment following the debut of Bitcoin futures trading last month.


Source: https://cointelegraph.com/news/go-beyond-headlines-hype-to-find-crypto-risks-urges-idaho-finance-chief

Visa Suspends WaveCrest Status, Stopping Some Crypto Credit Cards



A great many of Visa’s cryptocurrency debit cards have ceased working today as the company ended its relationship with a debit card provider called WaveCrest. Affected cards are those issued by WaveCrest, including products from CryptoPay, Bitwala, TenX, Wirex and others.

The move, which first appeared to be cryptocurrency related, is in fact simply a crackdown against the WaveCrest company, who has apparently violated Visa’s policies. A Visa representative has told TNW:

    "We can confirm that WaveCrest’s Visa membership is being terminated due to continued non-compliance with our operating rules. All of WaveCrest’s Visa card programmes will be closed as a result.

    Visa has other approved card programmes that use fiat funds converted from cryptocurrency in a number of jurisdictions. The termination of WaveCrest’s Visa membership does not affect these other products.”

The news first broke via Twitter, with a number of companies linked to WaveCrest making public apologies.

    We have published more information about the recent Wave Crest decision that affects Bitwala prepaid cards https://t.co/wHMMNvq9Je pic.twitter.com/DjQlKQtMJe
    — Bitwala (@bitwala) January 5, 2018

    Unfortunately, our card issuer instructed us to cease all Cryptopay prepaid cards starting January 5th, 2018. All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP. Sorry for all the inconvenience caused, we’re working on the solution!
    — Cryptopay (@cryptopay) January 5, 2018

The general increase in attention from regulators has led to growing fear over a cryptocurrency crackdown. However, the current problem is specifically related to issues with WaveCrest. Other companies and card issues have been unaffected.


Source: https://cointelegraph.com/news/visa-suspends-wavecrest-status-stopping-some-crypto-credit-cards

Bitcoin is a currency for everyone there are no specific people or race that are chosen to use bitcoin. Bitcoin is a digital currency that is fast, secure, decentralized. Bitcoin is acceptable worldwide, using bitcoin there is no borders, custom, or boundaries whatsoever. A person owning bitcoin can send money to anywhere around the world with instant delivery, there is no need to wait for another 3-4 working days for the transaction to arrive like how the banks do.

Yes, I think there are signs showing bitcoin price can rise to $18k or even more this month. Bitcoin went through market correction for the last 2 weeks but thankfully, the bitcoin price has finally started recovering stronger showing with so many signs that the bitcoin price will go back $20k or higher before the end of the month of January.

Bitcoin and cryptocurrency are completely different form of investment where it requires a person to read and work hard in order to study the ecosystem. There are so many risk involved with cryptocurrency investment while women are not good at handling risk. There are way to many ups and downs in the cryptocurrency industry that a lot of women cannot handle. I think some games are only made for men to play that is the reality.

Bitcoin is digital currency that is changing people lives everyday by providing jobs and investment opportunity where people can invest their money and make a lot of profit later for just holding bitcoin. Bitcoin has limited supply that is what makes it so valuable, and the value appreciates so quickly. There are only 16.7 million bitcoins currently in circulations worldwide and there would be total of only 21 million bitcoins to be ever created by the 2140.

Why the hurry? Facebook say they are studying the cryptocurrency ecosystem every well because they want to integrate cryptocurrencies with facebook. Once the Facebook added cryptocurrency all the rest will follow such as Amazon, eBay, and Google.

Yes, i believe now is time for bitcoin after recovering from 2 weeks of market correction. thankfully, bitcoin price is about to be fully recovered. During the two weeks of bitcoin market correction a lot of people struggled to hold their coin and stay fearless about that. Well done guys, great works!

Bitcoin will never end it will only becomes more expensive and it is never too late to invest in bitcoin. People can invest in bitcoin anytime they want. I heard some people were saying, it is too expensive to bitcoin it is too late to buy since 2014 and look at the bitcoin price today it is selling at $16k. So, invest now and plan for the years ahead.

Congratulations, bitcoin is changing people lives everyday by providing jobs and investment opportunity for people to invest their money and make a lot of profit over some period of time. Bitcoin help thousands of people around the world, that is why everyone is talking about bitcoin. Now, as we enter the new year 2018 bitcoin is about to make another history by getting to another level. so, sit tight and be ready a great year ahead.  

Bitcoin went through what is called the market correction. Whenever the bitcoin price rise to the highest level there must a correction that will follow to balanced the bitcoin price in the market and give some people the opportunity to buy bitcoin at cheaper price. And by the way, McAfee said bitcoin will reach $1m by the year 2020 not 2018 so there is still long way to go.

Forget what other people are saying about bitcoin calling it a scam, ponzi, pyramid, gambling, or whatever. The only thing that is important to you is make sure you know what you are doing. Bitcoin is peer-to-peer digital currency that is fast, secure, and decentralized. Bitcoin is acceptable worldwide, and bitcoin value appreciates over time because of bitcoin high demand. I don't know why people are so stupid to the level where they can't understand that.   

Yeah, it appears bitcoin price is recovering pretty fast after the recent correction. it is about time, i knew bitcoin price will recover this month due to the recent great news of bitcoin lightning network, ready waiting to be implemented to speed up the bitcoin transaction speed with zero transaction fee. Once the lightning network is implemented the bitcoin transaction will be faster and smoother than ever with zero fee. how good was that, huh?