Bitcoin – BlockPublisher

Habibah Shahid November 14, 2019

Why Bitcoin Miners should be Banished to Renewable Electricity Generating Regions

Of all the ways there are to obtain bitcoin, the…

Fatir Malik November 13, 2019

Less than 3 Million Bitcoin are Left to be Mined

The reward obtained on mining bitcoin gets reduced to one…

Fatir Malik November 13, 2019

Bitcoin Creator was the 44th Richest Person in the World

With the hiking bitcoin prices, Satoshi Nakamoto, the pseudonym used…

Fatir Malik November 13, 2019

Will Bitcoin Derive its Value from its Use as a Medium of Exchange?

Despite being volatile, bitcoin is desirable among crypto enthusiasts and…

Fatir Malik November 13, 2019

Belonging to No One, Bitcoin is the Currency for Everyone

Satoshi Nakamoto created the world’s first digital cryptocurrency, bitcoin, over…

Habibah Shahid November 13, 2019

Tax Evasion through Bitcoin is no more an Option

With the advent of Bitcoin and its underlying technology blockchain,…

Since the advent of bitcoin, there has been an ongoing debate whether it should be termed as a commodity like gold or a transactional currency. To dive deeper, let's analyze what the traits of a transactional currency are. Anything that wishes to replace fiat should be fast, secure, should have minimal to zero transactional costs. For most people, bitcoin checks all these boxes, but bitcoin still lags a number of points that can put it far behind in the race of becoming a transactional currency. The volatility of bitcoin is one of the most prime issues that makes it more of an investment option rather than a currency. General masses and expert alike have been expecting the prices to rise instead of achieving stability. This instability has welcomed a lot of risk takers as retail investors to enter the crypto space but has pushed institutional investors away. Another aspect that puts bitcoin more out of the category of a currency is the time it takes for a transaction to complete. A currency used for transactions is expected to have speedy transactions while the 10 minutes block addition time puts a huge barrier in front of bitcoin in this regard. According to Zach Alam, the Chief blockchain consultant at onboard.one it is difficult that bitcoin becomes anything other than gold. He supported his case saying: "It’s slow to send, at ~10 minutes to confirm – we can’t expect shoppers to wait that long before leaving a store with their products. There’s not enough throughput, at 7 transactions per second – it’s not feasibly possible for there to be widespread usage. There’s no way to recover lost or stolen coins, this might be fine for gold, or as a method to preserve wealth, but the majority won’t be able to live day to day with this risk." The centralized alternatives that handle digital transactions, like Mastercard and Visa are way ahead in this domain, who allow thousands of people to transact per second without any delays. Another issue with buying through bitcoin is making a return policy. If a customer wishes to return a product or ask for refunds should the refund be paid in cryptocurrency or in the equivalent fiat? When prices have fluctuated significantly this can cause a good bit of contention between customers and merchants. With a fiat-pegged stablecoin this is not an issue. Countries are moving towards making their own blockchain based digital currencies backed by their native fiat, which also clearly explains the inclination towards stablecoins, and currencies that don't disrupt their economic systems as a whole. If properly tax administered and regulated, stablecoins can answer all of the above concerns put forward by bitcoin. On the other hand, if looked at by perspective of gold, bitcoin clearly checks all the boxes and provides a perfect alternative. Comparing BTC and gold, Martin D. Weiss, founder of Weiss Ratings, stated: Bitcoin does indeed have some characteristics that are akin to gold’s: Limited supply, robust security, as well as emphasis on being permissionless and censorship-resistant. But the differences are equally important. Bitcoin is digital, which means it’s free to store, easy to transfer, and, unlike virtually all other financial assets, carries no counterparty risk. This makes it a unique and ideal store of value. As its market cap grows and its price becomes more stable, it’s likely to become more popular as a safe haven.

Fatir Malik November 13, 2019

Not Gold, Bitcoin is a Safe Haven

Although the volatile traits of bitcoin might not appear pleasing,…

Fatir Malik November 12, 2019

Despite Being Decentralized, Bitcoin is Subjected to Manipulation

Crypto investors and enthusiasts all the world have not forgotten…

How Bitcoin's Proof of Work is Falwed to the Roots

Shehryar Hasan November 12, 2019

How Bitcoin’s Proof of Work is Flawed to the Roots

For Bitcoin, much like every cryptocurrency, each transaction that happens…

Shehryar Hasan November 12, 2019

Bitcoin vs Stablecoins – Who will Destroy who?

The purposes of cryptocurrency that would bring mass adoption in…

Shehryar Hasan October 31, 2019

Maltese Authorities Warn Locals About ‘Bitcoin Future’, A Bitcoin Scam

While bitcoin whitepaper introduced exactly 11 years ago is celebrated…

Shehryar Hasan October 30, 2019

Johannesburg Authorities Will not Pay Bitcoin Ransom to Hackers

BlockPublisher recently told that the city of Johannesburg was under…

Shehryar Hasan October 30, 2019

Russia Looking Forward to Conquer the Bitcoin Mining Industry

Although China is the crypto mining hub, several other countries…

Fatir Malik October 30, 2019

Starbucks Will Allow Users to Buy Coffee Using Bitcoin

Starbucks, the largest coffee chain in the world with the…

Fatir Malik October 28, 2019

With 3rd Largest Daily Gain in Price History, Bitcoin Surpassing $9,700 Might be Gaining Momentum

Bitcoin, the world’s first cryptocurrency, is all set to test…

Shehryar Hasan October 26, 2019

Johannesburg’s Civil Website Hacked – Hackers Demanding Ransom in Bitcoin

There has been a breach on the website of Johannesburg,…

Fatir Malik October 26, 2019

After Rejecting Libra Completely, Jack Dorsey Reconfirms his Bullish Sentiment Regarding Bitcoin

Jack Dorsey, the CEO of Twitter, had previously praised bitcoin…

Nigerian Crypto Wallet's Alleged Exit Scam Costed Users Loss of $1Million

Fatir Malik October 22, 2019

Identity of the Host of “The Grand Tour” Show used for Bitcoin Scams

Although the value of bitcoin has driven the bad actors…

Fatir Malik October 21, 2019

Tim Draper Views Bitcoin as a Global, Open, Transparent and Decentralized Currency

Satoshi Nakamoto, the creator of bitcoin, introduced the world’s first…

Fatir Malik October 21, 2019

HTC Launches Blockchain Smartphone Exodus 1S, Capable of Running a Full Bitcoin Node

Last year, the Taiwanese electronics giant, HTC launched a blockchain…

Fatir Malik October 21, 2019

With More than 85% Bitcoins Mined, Only 3 Million Bitcoins Are Left to be Mined

Bitcoin, the world’s first decentralized cryptocurrency, was created by Satoshi…

Bitcoin Price to Plunge Below $8K Before Shooting for $14k, Analyst Suggests

Fatir Malik October 17, 2019

Unlike Bitcoin Price, Bitcoin Adoption is on the Rise

Although the price of bitcoin is testing the patience of…

Bitcoin Ban Crypto India Reacts to Draper's 'Shame on India' Remark

Shehryar Hasan October 17, 2019

The Hearing of Crypto Ban in India Rescheduled to 19th November

Indian Supreme Court delayed the hearing which touched the topic…

Fatir Malik October 15, 2019

Bitmain CEO Doesn’t Expect Bull Market Immediately After the Bitcoin Halving

Although bitcoin investors and enthusiasts are eyeing next bitcoin halving…

Shehryar Hasan October 12, 2019

Ether (ETH) is not a Security – According to CFTC’s Chairman

CFTC’s chairman Heath Tarbert believes that the cryptocurrency Ether is…