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To predict the change of crypto-currency (and traditional currency as well) rate, gearing to media publications, is not quite a good idea. The point is that mass-media will always follow in the wake of the real processes, being behind for the step or two from the real state of things.
When Bitcoin reached the figure of 1200 $/BTC, journalists were heaping praises to the perspective crypto-currency, and the speculators saw in their rosy expectations the price of dozens of thousand dollars. When its price started to decrease and reached the minimum of 200 $/BTC, press burked the digital money, saying that soon even free Bitcoin would be hardly needed by anyone. But it appeared that it was the bottom of the 2015 year rate, and to the end of the year it grew twice. And of course the mood of the media changed to opposite again.
In the trading communities investing funds are informally divided into two types: smart money and mass money. Smart money is managed by the players that think of the several step strategies, predicting the reaction of the public. Others are ruled by emotions, and not common sense or analytic instruments, buying when the trading object is at the peak, and selling, when it drops to the bottom.
The crypto-currency market is not yet supersaturated, and there are no complicated financial processes, characteristic for traditional currencies, so far. There were times when free Bitcoins lay under your feet, just bend down and take, but no one saw the value of digital currency then. But it all turned out that way that the young crypto-currency outstayed and started to acquire value. And since then people, who can predict and analyze, started to show interest in it. And, after some time, other players joined them.
The theory exists that all markets are cyclic, and every market tendency consists of several phases. Experienced investors and traders that hold this theory always try to outstrip the events for several steps.
For those who cannot think logically and use the analytical methods of studying financial sources one can recommend to not even approach the trading platforms. It’s better to visit faucet websites, gather free Ethereum a little at a time, and have a sound sleep at night.
Crypto-currencies are digital money or assets which are created by private computer systems without the participation of central banks. The first crypto-currency that appeared on the market was Bitcoin, that is why it is the best known currency. It gained its popularity in 2009, but the idea of its creation was known in the community of programmers and hackers long before that. The creator of “digital cash” is considered a Japanese Satoshi Nakamoto, however, it is most likely a pseudonym of a group of people.
The first digital money didn’t have any value, so one may assume that free Bitcoins were accessible for all wishing, there was no problem in getting dozens of thousands of coins, the resources of the home PC were enough for that.
The idea of crypto-currency has risen from the disappointment in the modern fiat currencies that are being typed by the central banks. The digital currency fans point out that modern money is not backed up by the real assets to the full extent, as it was in the times of golden standard. In addition, one more minus of fiat money is the possibility of unlimited typing of new paper notes, provoking thereby hyperinflation and devaluation.
On the contrary, the creators of Bitcoin settled the limit of the crypto-currency that can be mined, and this is 21 million coins, the difficulty of mining increases with time. It was very easy to get first free Bitcoins, but today it is quite complicated, and you cannot do that with your PC only. That’s why hyperinflation of crypto-currency is impossible.
The next step of crypto-currency popularization was exchange platforms, where you could change Bitcoin to the leading world currencies. Such trading platforms are the markets where participants realize the demand and supply of Bitcoin and indicate a fair price in dollars, euro or yens. Any investor that wants to trade crypto-currencies for the recognized world currencies is able to participate in the exchange. The creation of exchange platforms provoked the further widening of digital money and, in the same time, created a threat to its existence since all the crypto-currency scandals were connected with exchanges manipulations, where big working assets circulate.
One more advantage of “digital cash” is the possibility to divide it into very small pieces. For example, Bitcoin can be divided into one hundred millionth that is called Satoshi. It created a supportive environment for micro transactions that no one ever does because the commission was bigger than a transaction.
This opportunity was also used by the owners of the websites called faucets. Faucets distribute free Bitcoins, free Ether and other crypto-currencies, dividing them as much as possible and earning on the placing ads on their pages.
The creators of crypto-currencies understood that there is a demand for alternative decentralized digital money, and realized this demand. They could organize many people that are ready to mine digital money with its further exchange for goods or services. Now, this system gathers pace and can hardly be slowed down.
American startup 34 Bytes, located in LA, developed a POS-terminal, which accepts Bitcoin. Right now, the project in on the stage of beta-testing, so all shop owners willing to test this innovation, can do this for free.
The company’s website says that they have projected and launched a Bitcoin POS-terminal, orienting on the shops for building and the huge trade segment, connected with them. In addition, the company hopes that their innovative solution will make the cooperation between clients and sellers easier and maximally comfortable.
POS-terminal doesn’t require smartphone, tablet, or any technical actions from the side of a buyer. Terminal accepts Bitcoins by means of scanning QR-code of any Bitcoin wallet and automatically conducts transactions, using Coinbase exchange. At the wish of the buyer, the agreement can be sent into a “cold” wallet, which is important in relation of secure storage of the funds.
The scheme “cold wallet – hot wallet” works in the following way: the main part of the funds is saved in the “cold wallet”, which has no connection with the network, and “hot wallet” contains insufficient sum for the payment or acceptance of Bitcoin payments. For the wallets synchronizing the specific script-synchronizer exists.
Since everything happens automatically, the secrecy of the buyer’s close keys is guaranteed, the company doesn’t receive the access to the personal data, the terminal processor fulfills only money transfer under the full owner’s control.
For those business owners, who want to take part in free beta-testing, the company’s website has a section “Free Usage of Bitcoin POS-terminals”. During 6 weeks from the moment of registration in the free program, the startup won’t process payments for collecting commission, so the users are asked to assure a feedback during the device and app testing.
One should mention that this is not the first try to launch autonomous terminals for processing Bitcoins. A few years ago a Canadian company Coinkite launched such a terminal, however, it has stopped its usage in April this year. Except this, a leading company providing payment services with Bitcoins BitPay announced about cooperation with Ingenico in October 2015, which also launched Bitcoin POS-terminal – this means 27 millions of points to pay by Bitcoin.CONTACT US