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Have you ever missed the peak period of Bitcoin 👀 and the skyrocketing period of Dogecoin 👀? ?
This time you must not miss TOKENLON💯💯💯
TOKENLON airdrops 🚀The number of airdrops is up to 5 million 🚀
Individuals randomly receive up to 1-100 USDT (Tether coins)
🚀🚀Participate in the event and only need 0.01USDT (Tether coins) to claim 🚀🚀
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As the first of its kind, Bitcoin has value because it holds up well when these characteristics are analyzed; its biggest issue is its status as a unit of exchange as most businesses have yet to accept it as payment.
Bitcoin is a cryptocurrency developed in 2009 by Satoshi Nakamoto, which is the name that the still unknown creator signed as in the Whitepaper. Unlike traditional currencies, Bitcoin is not issued by a central bank or backed by a government; it is decentralized and operates through a revolutionary decentralized technology called blockchain.
The following are some of the main factors that influence the price of Bitcoin:
Bitcoin has the highest trading volume among cryptocurrencies. However, in comparison to global markets, much less money is still involved. This means that prices have the potential to go up and down more quickly.
According to the Bitpanda guide:
“News events that are detrimental or beneficial to the reputation of Bitcoin, uncertainty in the future intrinsic value of the cryptocurrency as a store of value, currency risks for large holders of Bitcoin regarding liquidation as well as security breaches may also influence the Bitcoin price”.
An example of this could be seen recently, when Elon Musk tweeted that Bitcoin is environmentally unsustainable. The Tesla CEO said in a tweet that “he worries about the massive use of coal and other carbon-intensive energy to generate electricity needed to mine digital currency”. On another occasion, he implied in a Twitter exchange that the electric vehicle maker sold or may sell the rest of its bitcoin holdings, sending the price of the cryptocurrency down. Bitcoin dipped by 8% at that time.
1. Regulation
The Bitcoin market is heavily influenced by regulation. As China accounts for nearly 70 percent of the world’s cryptocurrency mining, every legal change in China affects the price of Bitcoin.
In May, as the Forbes reported, the Financial Stability Development Committee of the State Council in China led by vice premier Liu He announced a crackdown targeting virtual currency mining, “leading to ripple effects in the whole crypto market with Bitcoin falling by nearly 50 per cent from it’s all-time high, and by as much as 17 per cent on Sunday”.
Now that the Chinese investors try to bypass regulatory oversight by taking bets on domestic and foreign over-the-counter (OTC) desks, the price of Bitcoin seems to be recovering.
OTC trading desks and P2P trading platforms such as Localbitcoins, Paxful, and a host of others have made life easier for bitcoin traders across the globe, especially in regions where the government has banned crypto trading.
2. Competition
While Bitcoin was the first cryptocurrency to gather mass attention, and the biggest cryptocurrency on the market currently, it has contenders. Altcoins including Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Cardano (ADA), and Polkadot (DOT) are among its closest competitors as of now. According to some experts, the Digital Dollar could be a competition to Bitcoin in the future, thus affecting its price.
“I would like to think that [bitcoin and libra] are also in competition with the central bank digital currency,” said the former International Monetary Fund’s chief economist.
“Central bank digital currencies, sometimes referred to as CBDCs, are expected to work just like regular coins and notes issued by central banks but exist entirely online, with the U.S. Federal Reserve potentially issuing digital dollars via Fed accounts”.
3. Supply
This is determined by how much Bitcoin is for sale on the market. 18.6 million Bitcoins are currently in circulation, but many of these have been lost. According to the cryptocurrency data firm Chainalysis, “about 20% of all Citcoins (around 3.7 million) have been lost”. This number is determined by bitcoin that hasn’t moved wallets in 5 years or longer.
4. Electricity costs
The simple fact is that if the price of electricity is low, then miners can profit more from Bitcoin. Several recent reports have suggested that the electricity consumption of Bitcoin is extensive; a Bitcoin country would rank 64th in the world for overall energy usage.
Energy accounts for between 90% to 95% of Bitcoin mining costs and is important in terms of whether it is profitable for miners to mine.
5. Governance
Governance has been a big issue in Bitcoin. As Bitcoin is not governed by a central authority, but by all computers connected to the blockchain, it is developed as a decentralized system. That means that it relies on developers and miners to process transactions and keep the blockchain secure. Software changes are consensus-driven, which tends to frustrate the bitcoin community, as fundamental issues typically take a long time to resolve. Some of the examples are the way forks are managed by the community, with detractors and supporters lobbying for their own way of diverging the Bitcoin blockchain.
Another governance issue born from the decentralization is what Investopedia explained as the issue of scalability. This refers to the number of transactions that can be processed in the blockchain, which depends on the size of blocks. As of now, bitcoin software is only able to process approximately three transactions per second. While this wasn’t a concern when there was little demand for cryptocurrencies, many worry that slow transaction speeds will push investors towards competitive cryptocurrencies.
As Bitcoin price is volatile and depends on many factors, all investors should analyze them well before making transactions involving the digital currency. While it is impossible to tell for sure which way the price is going to move, major events such as regulatory crackdowns or bad press for Bitcoin can be an indicator of that.
Coinsbit India is a peer-to-peer crypto trading platform connecting buyers with the sellers which is powered by Europe’s largest and award winning cryptocurrency exchange. Coinsbit.in aims to bring professional, smooth, easy and highly liquid Crypto platform in India delivering superior user experience.
Deposit CRO and farm BTC with a USD 1,000,000 allocation
Crypto.com is pleased to announce that Bitcoin (BTC) will be listed on Supercharger, a one-click liquidity mining platform. This time, participants can also enter into a special Supercharger Bonus Lucky Draw by depositing CRO in the Crypto.com App! Sign up for an account on the Crypto.com App or Crypto.com Exchange to participate.
What is Bitcoin?
Bitcoin is the first decentralised peer-to-peer network. It spearheaded the rise of blockchain technology, and paved the way for a new payment system and digital currencies.
BTC on Supercharger With a Bonus Lucky Draw
Crypto.com App and Exchange users will receive BTC as rewards for depositing CRO tokens into the Supercharger pool.
Users who charge a minimum of 1000 CRO in the Crypto.com App will be entered into the Supercharger Bonus Lucky Draw, which will give away a total of 1 BTC in prizes! Details here.
The BTC Supercharger event will commence on Sunday, 27 June 2021 in the Crypto.com App and Exchange.
Users who participated in the SHIB Supercharger event, which ends on 27 June at 17:00 UTC, can keep their CRO deposit in the Supercharger pool to be automatically carried over to the BTC event.
Details:
i) Charging Duration (First 45 days)
Users can deposit and withdraw from the Supercharger pool (with no gas fees) at any time during the Charging Period. The price of the reward token is determined at the end of this period.
ii) Reward Distribution Period (Next 45 days)
Users will receive their reward tokens during the Reward Distribution Period based on their share of the liquidity provided during the Charging Period. Their eligible reward tokens will be distributed daily during this 45-day period after accepting the reward terms. Users will forfeit a portion of their reward if they do not accept the terms before the Reward Distribution Period begins.
Find out how to calculate your rewards here.
Notes:
For details, please refer to our Help Centre.
Source: https://blog.crypto.com/supercharger-to-feature-bitcoin-btc/
To celebrate the commencement of BTC Supercharger, we are inviting participating users to join a lucky draw to share a prize pool of 1 BTC as a bonus! Details are as follows:
Start Date : Sunday, 27 June 2021 at 18:00:00 UTC
End Date: Wednesday, 11 August 2021 at 18:00:00 UTC
Platform: Crypto.com App
Total Prize Pool: 1 BTC
How do I participate?
Everyone that fulfilled the above requirements will obtain 1 entry to the lucky draw and can win the BTC prize! However, users that stake for the Crypto.com Visa Card will enjoy additional entries depending on their card tier.
Helpful Links
Notes
Source: https://blog.crypto.com/crypto-com-app-supercharger-bonus-1-btc/
I herby warn everyone from opening and using an account at Nuri.com (ex Bitwala). I'm a user of their product since the early days. They have always delivered a great product, building a bridge between fiat and crypto (especially Bitcoin).
Bitwala recently re-named themselves to Nuri and partnered with Solaris Bank to and Celsius to provide an interest account for Bitcoin and a standard bank account with a bridge to a Bitcoin and Ethereum wallet.
So far so good. A few days after renaming Bitwala to Nuri I received an email with tons of questions, here are some of them:
Do you use this account as a main account or do you plan to do so in the future?• Are there persons other than yourself who got access to this account?• Which occupation do you have and what is your employment relationship (e.g. employed, self-employed, freelancer, student, without employment)?• How high is your monthly disposable income?• How would you estimate your crypto knowledge? (expert/good knowledge/interested/beginner)• When did you first obtain cryptocurrencies?Crypto exchange purchase (only crypto-> EUR):• What is the purpose of the following transaction/s?• What is the relationship between you and the counterparty?• Please provide us with suitable proof of the origin of the crypto values from the below Crypto-EUR exchange available (trading history, screenshots of trading platforms, etc.).
which I found extremely intimidating and privacy concerning. Although I was not comfortable with answering those questions, I did. After a week I received this email:
Dear xxx,
We regret to inform you that we hereby terminate our business relationship with you with immediate effect pursuant to §16 of our Terms of Service and §5 (2) of Supplementary Agreement on the Crypto Wallets of our Terms of Service.
Also, we hereby inform you that our Partner Solarisbank AG (“Solarisbank”) terminates the business relationship between you and Solarisbank based on Section 19 paragraph 3 of Solarisbank's General Terms and Conditions (GTC) for reasonable cause with immediate effect. Your banking connection will be cancelled and closed with immediate effect.
In addition, we hereby inform you that our partner Solaris Digital Assets GmbH (“SDA”) also terminates the entire business relationship between you and SDA for reasonable cause with immediate effect pursuant to section 22.3 of SDA’s Conditions for Crypto Custody Services.
At the same time, we restrict access to the Nuri apps in accordance with §16 of our Terms of Service and §5 (2) of Supplementary Agreement on the Crypto Wallets of our Terms of Service.
Declaration by Solarisbank
Any credit balances held on your account will be returned to you. To retrieve the remaining fiat funds, please send a signed copy of the attached payment request to [support@nuri.com](mailto:support@nuri.com), confirming to which account - if permitted - you would like us to transfer the remaining credit to.
Your remaining available balance is €XXX - DE63110101002331480641
Please note that if your payment request is not received within the first month of account closure, solarisBank reserves the right to collect a monthly expense allowance of EUR 6.50 from your remaining balance.
You can retrieve the content of your BTC wallet by recovering your wallet. Please find a link showing how to do this provided here.
You can withdraw the outstanding Ethereum amount to an external wallet provider. The external wallet provider you choose will be able to advise you on how to complete this process.
Respectfully,
Solarisbank Customer Support
Declaration by Solaris Digital Assets
In the case that your account is holding any Digital Assets balances, you will be provided with the option to withdraw any such balance(s) via the name of partner Nuri app within 30 days from today. After this period, you will no longer have access to your account to carry out such actions. We recommend that you also inform relevant parties from which you expect any incoming transfers about the closure.
Respectfully,
Solaris Digital Assets Customer Support
We regret that the accounts must be closed and that we also have to terminate our business relationship with you. Should you have any further questions or need assistance, please let us know.
Best regards,
Nuri Team
Account Executive
Attachment(s)EN_SEPA.pdf
Don't trust banks.
I want to add an additional warning regarding their interest account (or any other interest account like Blockfi, Celcius and co.).
Terms of service of Bitwala (now NURI):
Special risk factors for the Crypto Interest Account
Investing cryptocurrencies via the Crypto Interest Account is associated with significant risks. The risks described below can occur individually or cumulatively. For the customer ("investor") there is the risk of total loss. The order in which the risks are presented does not provide any indication of the materiality of the risks, either in terms of their probability of occurrence or in terms of their impact on the investor and his claims.
The further risk information on cryptocurrencies in § 8 of our General Terms and Conditions (https://www.bitwala.com/de/terms-of-service/) must be observed.
1. No deposit insurance
There is no statutory or voluntary deposit insurance for the cryptocurrencies invested via the Crypto Interest Account. In the event of a default by Celsius Network Limited (Celsius Network), no payments will be made to the investors by third parties (e.g. a deposit protection fund (“Einlagensicherungsfonds”). Bitwala GmbH ("Bitwala" or "we") also does not provide compensation in the event of loss of the cryptocurrencies used and does not accept any other securities.
2. Bankruptcy of Celsius Network
The investors bear the full risk of the bankruptcy of Celsius Network. Celsius Network is the sole debtor of the investors' claims to the agreed income and repayment of the amount of cryptocurrencies used. Whether Celsius Network will be able to fulfil the due claims of the investors in the future depends solely on the success of its business activities. If Celsius Network becomes illiquid (e.g. in the event of bankruptcy), the investor will suffer a total loss of his investment as well as any income already earned but not yet disbursed.
3. No participation, co-determination or control rights
Investors have no rights of participation, co-determination or control with regard to the business activities and business strategy of Celsius Network. Investors cannot verify whether Celsius Network conducts business activities that will enable it to service the claims of investors from the Crypto Interest Account in the future. The business activities carried out by Celsius Network may result in further risks for investors. As investors do not know the business activities of Celsius Network in detail, they are not in a position to verify these potential risks. Celsius Network could make decisions that could have an impact on the investors. The investors have no possibility to influence the business activities of Celsius Network. This also applies to the use of the cryptocurrencies provided.
4. No state supervision
Celsius Network is registered as a Money Service Business ("MSB") with the US Financial Crimes Enforcement Network (FinCEN), a unit within the US Department of the Treasury that collects and analyses information on financial transactions in order to combat national and international money laundering, terrorist financing and other financial crimes. Nevertheless, Celsius Network and its business activities are not subject to extensive government supervision. In particular, there is no guarantee that registration with FinCEN will meet German standards of comparable governmental supervision. There is therefore no state or other protection for investors against misuse of the cryptocurrencies provided.
5. Application of foreign law and prosecution abroad
The legal relationship between the investor and Celsius Network is governed by US law / the law of the United Kingdom. Investors may not be aware of the law and may therefore not be able to exercise their legal position under the respective laws vis-à-vis Celsius Network or not exercise it properly. Claims of investors against Celsius Network must be asserted in foreign courts. For investors this may mean higher costs and difficulties in enforcing their claims.
6. Price and earnings volatility
The investor bears the risk of exchange rate volatilities with regard to the cryptocurrencies provided by him. The price of cryptocurrencies on corresponding trading platforms can be subject to high volatility. The investor has a claim against Celsius Network for repayment of the amount of cryptocurrencies provided by him plus the agreed income. This entails the risk that the cryptocurrencies provided by the investor may have a lower value at the time of repayment than at the time of transfer to Celsius Network.
The interest rate for calculating the returns on the cryptocurrencies provided is subject to weekly changes by Celsius Network. Medium- or long-term planning with regard to the amount of income is therefore not possible. For the investor, there is the risk that the interest rate will decrease after the cryptocurrencies have been transferred to Celsius Network.
7. Tax risks
The current tax treatment of the income has not been conclusively clarified and may also depend on the individual tax treatment of the respective investor. It cannot be ruled out that the tax authorities and courts may adjust or change previous tax assessments on the treatment of income with cryptocurrencies. It is also not clear whether the previously applicable principles for the tax treatment of trading in crypto-currencies can be applied to income from the Crypto Interest Account.
Note:Bitwala does not provide investment advice to the client. Bitwala does not verify whether the Crypto Interest Account is a suitable investment for investors in view of their personal investment objectives and financial circumstances. Bitwala also does not provide any corresponding recommendations. Bitwala also does not conduct a reasonable assessment as to whether the Crypto Interest Account is appropriate in view of the knowledge and experience of the investor.
How this posts stops a few people of opening an account with Bitwala / Nuri in the first place. Take care everyone, this is why we are all in Bitcoin and Blockchain!
KOK Shopping Mall, ‘Please Take Care of My Skin!’ Event
https://kokfoundation01.medium.com/kok-shopping-mall-please-take-care-of-my-skin-event-a79011565034
#KOK #KOK_Play #KOK_Token #KOK_Coin #ZBG #Bithumb_Global #Blockchain #ERC20 #Bitcoin #Cryptocurrency #Digital_contents_platform #decentralization
