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Bitcoin Satoshi Vision (BSV) Cryptocurrency Can Now Be Stored In ElectrumSV Wallets

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Bitcoin Satoshi Vision (BSV) Cryptocurrency Can Now Be Stored In Electrum SV wallets!

Bitcoin SV (BSV) is gaining more popularity by the day as more businesses chose to embrace the cryptocurrency. One of the main reasons why it has stood out is coin’s similarity in design to Satoshi’s BTC hence the same vision. Recently, its mother entity ‘bComm Association’ made an announcement of the newly available Electrum SV wallets.

If you have been a crypto enthusiast for a while, it is likely you’ve heard about the pioneer Electrum wallet originally created for BTC. This digital wallet is categorized among the best within the crypto arena owing to its fundamental value. The newly launched Electrum SV will even be better with more advanced features that include;

  • Desktop Compatibility
  • Account management features
  • Link with other hardware wallets such as Keepkey, Ledger & Bitbox.
  • Modern interface that enables private key transfer between Electrum SV & other digital wallets.
  • Conversion feature for BCH to BSV crypto coins.

This innovation was created by Neil Boom & Roger Taylor who earlier on had interacted with a digital wallet known as Electron built to serve Bitcoin Cash holders. The two stated that BSV was created following Bitcoin’s steps but with a keenness on the coin’s stability and practicality. It, therefore, follows that the Electrum SV digital wallet will enhance the coin’s efficiency in the future.

At the moment, Electrum SV is designed for desktop use and its developers have hinted that this may remain as is for a while. The explanation given was Electrum SV is a choice wallet for mostly developers hence the desktop approach. Furthermore, the team has already ventured into the mobile market as well through its products; Cashpay, PixelWallet, Centbee & Handcash.

BSV has seen quite a successful end of 2018 despite the bearish market. The coin was added as a pair on a couple coin exchanges and bundled as an investment asset by Circle Invest. In addition, the coin’s hard fork attracted a good number of payment service providers with the most recent pledging support earlier this week.

Booth and Taylor are optimistic that with consistent development they will create a wallet that will be favorable for consumer adoption with a top notch user experience. The two developers concur that it is time for BTC to move to the next level in terms of practicality and stability of the protocol used. According to Booth and Taylor, this will facilitate massive BSV adoption as a cryptocurrency in the second decade of digital assets existence. The goal for the Electrum SV wallet comes down to shifting interface design from being developer-oriented to simple wallets that anyone can use.

An interesting feature of Electrum SV wallet is the coin splitting tool which the two developers explained in an interview with CoinGeek;

“It works by combining coins received from a BSV-only faucet with the other coins in your wallet so that your coins become BSV-only coins from that point on.  You can recover your ABC coins using Electron Cash in the usual way, but only after performing the coin splitting procedure.”

Booth also made a few comments on what to expect in future for the Electrum SV wallet. Ideally, the team targets to improve on the existing features such as the ecosystem to accommodate bigger wallets going forward. The GUI will also be enhanced to give a full user experience together with privacy features built on the multisig design.

The launch of Electrum SV was well accepted by bComm Association President, Jimmy Nguyen. He echoed positive sentiments about this move terming as possible legacy within crypto development;

“We are thrilled to help Roger and Neil bring the strong legacy of the Electrum wallet to Bitcoin SV. The ElectrumSV team understands that Bitcoin is for everyone, not just for developers. That is why their approach to upgrade Electrum into a more user-friendly wallet for BSV is critical to help achieve the Satoshi Vision – a world where billions of people globally use Bitcoin every day.”

Bitcoin Satoshi Vision (BSV) remains the only cryptocurrency ecosystem that has stuck to Bitcoin’s pioneer goal. Its developments have been guided by Bitcoin’s legit whitepaper as intended by Satoshi. Basically, the crypto coin has much potential to deliver an efficient and effective P2P payment avenue.

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BTC Could “Easily” Surpass Gold in 20 Years. Mike Novogratz Says

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Many people believe that cryptocurrencies represent a revolution of similar or superior importance to other significant events such as the appearance of the Internet. The introduction of Bitcoin (BTC) and its characteristics have enthused thousands of investors and influencers with increasing effusivity.

While some believe that cryptocurrencies will disappear due to their lack of intrinsic value, others like Mike Novogratz think that blockchain technologies, and especially Bitcoin, can surpass gold as the primary means of storing value in the world.

BTC MARKETCAP COULD EASILY HIT 8 TRILLION

In an interview with Anthony Pompliano, Mr. Novogratz explained that in a span of about 20 years, Bitcoin could “easily” increase its marketcap by 100x, if technological and legal developments continue to facilitate its adoption. This would imply that we would be talking about figures close to 8 Trillion dollars in total marketcap for Bitcoin alone in the next two decades:

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet

Novogratz has always defended the idea that Bitcoin will start a new Bull run when governments develop more specific regulations that appeal to institutional investors. In this regard, he explains that it is only a matter of time before large capital investors enter the space:

“I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.

Listen, the regulatory framework isn’t there yet on security tokens. We’re working really hard on our security token business and we’ve got, I think, some cool things in the hopper.”

BOW DOWN AND THANK SATOSHI!

Finally, in the climax of the interview, Novogratz’s enthusiasm was such that he even said that people should bow down and thank Satoshi Nakamoto for creating Bitcoin (BTC).

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Bitcoin Price Consolidation Continues, Downside Break Looks Likely

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  • Bitcoin’s current trading range of $3,920–$4,055 could be breached to the downside, as last week’s doji candle created at the key 21- week moving average resistance is signaling bullish exhaustion.
  • A downside break of the trading range, if confirmed, could yield a sell-off toward the support levels lined up at $3,775 and $3,658.
  • On the higher side, a UTC close above $4,055 is needed to put the bulls back into the driver’s seat, although that looks unlikely at press time.

Chart signals of bullish exhaustion suggest bitcoin’s (BTC) narrowing trading range could soon be breached to the downside.

The leading cryptocurrency by market value is sidelined below $4,000 for the fourth straight day, and has been restricted to the narrow range of $3,920–$4,055 since March 17, according to Bitstamp data.

More importantly, prices clocked a high and low of $4,055 and $3,920, respectively, last week before closing Sunday (UTC) largely unchanged at $3,970. The price swing formed what’s termed a doji candle on the weekly chart, which is usually taken to represent indecision in the marketplace.

The candle, however, has appeared following a 20 percent rally from lows near $3,300 seen at the end of January. So, it could be argued that the indecision, as represented by the doji, is predominantly among the buyers.

As a result, the probability of BTC ending the ongoing consolidation with a convincing break below $3,920 appears high.

As of writing, BTC is trading at $3,970 on Bitstamp, largely changed on a 24-hour basis.

On the daily chart, the short-term MA studies are now biased toward the bears, with the 5-day MA having dropped below the 10-day MA. Further, with the price well below the March 21 high of $4,055, the bearish outside-reversal candle created on that day is still valid.

So, the sideways channel seen in the 4-hour chart could be breached to the downside in the next day or two.

A range breakdown if confirmed would open the doors for a deeper drop toward $3,658 (Feb. 27 low).

A UTC close well above $4,055 would revive the short-term bullish view and could yield a rally toward $4,200, although gains may be short-lived, as the 21-week MA is still trending south.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.

source:coindesk.

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What will it be for Bitcoin? $5,500 or $3,000?

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Although the world’s most popular cryptocurrency is still trading in its long-established range between $4,000 and $4,100, some analysts believe the moment of truth for Bitcoin is near. What will it be for Bitcoin? $5,500 or $3,000?

Bitcoin has been trading between the $4,000 and $4,100 range for the last 10 days, and today Bitcoin’s trading behaviour was no different. Bitcoin is currently trading at a price of $4,020 while showing a minor loss of -0.24%, according to coinmarketcap.com.

Most analysts are looking at the upper bound of BTC’s current trading range, the $4,200 price mark, which will most likely act as a level of serious resistance again.

However, a Switzerland-based cryptocurrency analyst, who goes by the Twitter handle, Crypto Krillin, recently took to Twitter to state that the moment of truth for Bitcoin is very near. According to the crypto trader, or BTC will fly straight towards the $5,500 price mark, or we will re-visit $3,000.

Read more: Bitcoin or Gold? Or both?

The Swiss cryptocurrency trader is not the only crypto analyst who seems to be convinced that Bitcoin’s upside target currently exists around the $5,500 price mark.

Just a few days ago, Chepicap reported that Galaxy, another popular cryptocurrency analyst on Twitter, explained to his nearly 50k followers that Bitcoin is pointing to a promising potential for the number one cryptocurrency, hinting to an imminent surge of 35% to $5500.

Despite many analysts reporting optimistic views on Bitcoin’s near-future upward breakout, another widely recognized cryptocurrency trader known to the Twitter community as ‘The Crypto Dog’, recently came forward stating that it is still possible for Bitcoin to drop to $3,500 in the short term, adding that the market conditions haven’t changed over the last several days.

Read more: Bitcoin can surge as high as $400,000

According to crypto technical analyst known as DonAlt, we can only conclude crypto winter is over until Bitcoin crosses the $4,600 threshold and moves towards $5,000 and $6,000.

‘Volume isn’t what will convince me that the bear market is over’, he said. ‘A bullish market structure along with a break of at least $4.6k is. It’s interesting that we’ve had so many altcoin pumps while the general market cap hasn’t really changed. That makes me think there is very little new money coming in.’

Source:chepicap

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