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  1. 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.
  2. 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?
  3. That's one positive forecast! It's high time for all of us to stock up on cryptocurrency #1!
  4. Hi Leshak841, In this case you are welcome to check our BTC faucet which you can find in the bottom left corner. You can withdraw your Satoshis once you reach the balance of 3000, but you are advised to check you wallet's comissions fees - many services have high commissions for transactions of small amounts. You may want to order withdrawal of larger amounts (for example, 10 000 Satoshi). Remember you can buy and sell your e-currencies selecting one of many verified exchangers on our website!
  5. 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.
  6. You are welcome to use our monitoring and make first-hand impression. We would like to hear your thoughts afterwards about your experience, please share them!
  7. Well, it's good to have a choice. You are welcome to check our service at bestchange.com and make an informed choice.
  8. 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?
  9. Hi Zulfandina, BestChange.com is a legitimate site with over 200 verified and trustworthy exchangers, and lots of happy users too! You do not need an account to check the exchanging rates and browse through the website. We do have an affiliate program, and hope that resetting password feature will help you log in. If you have any questions, just shoot an email at support@bestchange.com.
  10. Please write to us about this issue at support@bestchange.com. It would be great if you could provide the screeenshots of the issue. Cheers! 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.
  11. 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?
  12. 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.
  13. Hi Akmal1984, you can claim 1 time per hour, the amount of satoshis for each claim ranges from 1 to 1000 satoshis. And remeber - you can always exchange your e-currency finding the best rate at www.bestchange.com. See you there!
  14. Once your balance is 3000 satoshi, the withdrawl buttom will appear. Enjoy!
  15. This is a message for all e-currency traders on this wonderful forum! If you like to trade e-currencies, exchanging one e-currency for another, you have already found a great new, dynamic form of investment. If you are still just weighing up your options, waiting to learn more before you commit to trade in this market, we would also like to congratulate you on having come this far. There can be little doubt that this is one of the great opportunities to earn considerable profits in the future. Even though e-currency exchanging offers rich possibilities for earning major profits, it is not without challenges. Good chances for making real money seldom are. When it comes to trading in e-currencies, the big hurdle tends to be finding the best rates. There are many competing e-currency exchangers out there. They often offer wildly different rates. So, your big challenge becomes how to find the best rates on the exchange you wish to make. This is essential. Big money can be made or lost, depending on finding the optimal rate. The solution is not to simply visit all the different exchangers out there to check for yourself. There are so many of them, this task would eat up all of your time. No, what is needed is a one-stop shop. One service where you can compare rates from all the leading exchangers in one place. The great news is that such a place exists. It’s called www.BestChange.com, and has been up and running since 2007. By visiting BestChange.com you follow in the footsteps of millions of traders who have already taken advantage of the great service on offer. Using BestChange.com could not be any more straight-forward. Here’s a quick guide: 1. Visit the BestChange.com website 2. Select the e-currency you want to exchange into another currency 3. Select the e-currency you would like to convert into 4. A list of current quotes appears on the screen with the best ones on top That is all you need to do. Now you simply compare the rates, and choose the one that tempts you the most. The whole procedure is done and dusted in only a few minutes. You are saving time at the same time as you’re finding the best rates for your trades. It’s also worth noting that BestChange.com offers additional benefits too. Such as good reviews, up-to-date market info, and an experienced team of experts who can help with your questions. 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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