What’s Happening With Bitcoin?!

You probably remember hearing about Bitcoin reaching an all-time high of $1400 last month, then $2700, and just last weekend it reached $3000. Bitcoin’s value didn’t rest at $3000, as its exchange value quickly decreased to $2800, and now it’s at about $2500. In 2015, Bitcoin was named the top-performing currency in the world. So, what is going on?!

What is Bitcoin?

Bitcoin is defined as a digital form of currency, a cryptocurrency, a network that enables a new payment system through a form of digital money. Bitcoin is the first form of cryptocurrency and the most heard of. It is a decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. It was launched in 2009 by a person (or persons) known only by the pseudonym Satoshi Nakamoto, who didn’t intend for it to be an online currency, but rather a “peer-to-peer cash system”.
Unlike traditional currencies, which are issued by central banks, Bitcoin has no central monetary authority. It rather runs on Blockchain, which can be thought of as a form of ledger that contains all Bitcoin transactions.

Bitcoin works by Transactions – private keys

A transaction is a transfer of value between Bitcoin wallets that gets included in the Blockchain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes. Individuals download a Bitcoin wallet that holds the Bitcoin account for the user. One simply visits a Bitcoin dealer (online or offline) and exchanges currencies. The Bitcoin dealer then transfers the requested Bitcoin amount to the desired Bitcoin wallet, a process that takes a few moments.

Price

Bitcoin’s exchange price has been fluctuating since it was introduced in 2009, while reaching an all-time high of $3000 just last weekend, on the 11th of June. So, what is the cause of all this?

Adoption Rate

The value of Bitcoin is based upon the trust of its users. Whether the currency is recognized by countries or not, its value utterly comes from the user’s belief. To keep it simple, it’s the law of supply and demand. The more people adopt it, accept it, and trust it, the higher the value. The rate of adoption is the main reason why Bitcoin’s price rises or falls. Any bad news regarding Bitcoin that might discourage people from using the currency, will in return cause a drop in the price. Speaking of bad news, the Ransomware massive attack that took place last month gave Bitcoin a very bad name. Those infected by the virus were asked to make payments using Bitcoin.
Japan
Back in April, the Japanese government passed a that recognized Bitcoin as a legal method of payment. This law encouraged investors and traders to exchange yen for the digital currency, which in turn led to an increase in the Bitcoin exchange price.

What does the future hold?

Jeremy Liew, the co-founder of Blockchain, predicted that Bitcoin will reach a price of $500,000 by 2030. This prediction was based on three reasons:

Money Transfers

The use of Bitcoin and Bitcoin wallets for money transfers has been increasing over the past few years in China. Jeremy Liew saw that people will more likely be inclined to use Bitcoin and Bitcoin wallets for their money transfers since it’s an inexpensive alternative to other available means.

Uncertainty

Liew also pointed out that political uncertainty around the world would cause an increase in interest in Bitcoin.

Mobile Penetration

The last reason Liew used for his prediction was the increasing mobile penetration around the world. Liew’s prediction goes on to mention that noncash transactions are expected to rise from 15% to 30% in the next 10 years, with Bitcoin accounting to 50% of all noncash transactions
I’d take the above-mentioned reasons with a grain of salt. If anything, they are mere predictions and a lot of things could go wrong. For example, China is trying to benefit from any trade done using Bitcoin by implementing a 0.2% fee on all Bitcoin transactions, and other countries could soon follow. Also, the US has rejected two Bitcoin exchange funds until now. It is true that the price of Bitcoin has risen significantly over the past couple of months, but will it continue to do so?

View original article on Nuummite Consulting.

Galaxy S9: Slow-Mo approved!

The S9 and S9 Plus have been in the market for a couple of months now and they have been receiving very good reviews. Two features that are continuously highlighted when discussing the two phones are the Super-Slow-Mo and the mechanical variable aperture. My initial impression when looking at the two new phones was that Samsung should have provided more to win the market this year, but it seems that the phones excelled at what was provided that it still manages to grab attention among fierce competition.

Samsung has been teaming up with Gavin Free and Daniel Gruchy, the two guys behind the famous YouTube Channel also known as “The Slow Mo Guys”, since the release of the two devices to provide users with a better understanding of the Super Slow-mo feature.

Continue reading “Galaxy S9: Slow-Mo approved!”

4 Differences Between Bitcoin Wallets And “traditional” Forms Of Online Payments

Bitcoin has been taking the spotlight continuously over the past couple of months as it fluctuates, with analysts having different predictions for the cryptocurrency over an upcoming couple of years. One reason we’ve been hearing a lot about Bitcoin is due to its high adoption rates, especially among people using the cryptocurrency to transfer funds. By now, there are users who are using Bitcoin as a daily currency, to sell and purchase online. Therefore, one question comes to many of us. What are the differences between using Bitcoin wallets for online payments, and other more traditional forms of online payments, such as credit cards or PayPal?
There are many differences between credit cards, PayPal accounts, and Bitcoin wallets. The main difference between credit cards and Bitcoin wallets is that credit cards weren’t specifically made for internet use only.

Type of Payments – Privacy and Security concerns

The way payment is made through a credit card/Paypal differs from how payments are made using a Bitcoin wallet. When a user pays using credit cards or a PayPal account, the user is, in fact, giving the receiving part the permission to pull a certain amount from the account. This has continuously created great security concerns since full credit card and billing information is provided. On the other hand, payments made through a Bitcoin wallet is the same as directly paying in cash. The receiving party has no way of pulling any amount from the wallet, rather the buyer just sends a specific amount. No information is given other than a wallet Bitcoin ID.
On the other hand, a PayPal account is directly connected to a user’s bank account, and so if a PayPal account is compromised the user’s bank account and credit card details can be easily leaked. A Bitcoin wallet is different, where security is more reliant on the user himself and can be dangerous if users don’t know what they’re doing. Users can manage their Bitcoin wallet’s security or can choose to let services such as Coinbase manage it.

System Difference

When looking to make payments using Visa or MasterCard, a user must be registered with either company. The same goes for sellers who are looking to receive payments. This is done to restrict access to networks, thus increasing security. Bitcoin does things differently, where any individual can join by easily downloading a Bitcoin wallet. Payments are easily made by transferring Bitcoin from one wallet to the other, without the need for bank approval. Bitcoin payments can be tied to different Bitcoin addresses at different transactions, that way no two transactions would be tied to the same identity. This might bring up several security risks, as this can be used for ill doings.

Charge-backs

Depending on the networks used when handling online transactions, sometimes chargebacks can occur. A chargeback is a reversed payment, which occurs sometimes due to insufficient funds, or a miss-spelled name or account number. Chargebacks are frequently used to defraud shops, as they can happen some months later. Chargebacks can’t occur if using Bitcoin, as the only way money returns is if the merchant returns it.

Diffusion Rate

Credit Cards are seen to be used and adopted everywhere. The same is not true for PayPal and Bitcoin. PayPal is supported by many online sellers, but not all, and it’s not available in all countries. The same goes for Bitcoin. The problem with Bitcoin is that you need sellers to download services like bit-pay, which helps sellers accept payments made using the digital currency.
To date, there are more than 1000 other cryptocurrencies in the market. When it comes to crypto-currencies and online transactions, these comparisons mentioned above show that it isn’t about what’s best, but more about personal preferences. And it seems like the way we go about using digital currencies is about to change. PayPal’s CEO, John Donahoe, stated PayPal’s interest in integrating cryptocurrencies into their wallets. By the time PayPal and other online payment services consider this integration, crypto-currencies will continue to appeal to many users due to their low fees, anonymity, and decentralization.

Check the original article from Nuummite Consulting.

Xiaomi Mi Mix 2s

Xiaomi, one of the world’s largest smartphone manufacturers, has been known to release flagship devices at a more affordable price than the competition. But the company isn’t only known for their smartphones as their products include TVs, smartwatches, action cameras and much more. Most recently, the company announced their newest flagship, the Mi Mix 2S, an updated version of last year’s Mi Mix 2. Below is a full review of the device provided by Android Central. 

Written by Harish Jonnalagadda, Android Central


Xiaomi Mi Mix 2S review: A great alternative to the notch

The Mi Mix 2S runs the fastest chip available today and offers a new powerful new dual camera setup.

Xiaomi unveiled its first bezel-less phone back in 2016 with the Mi Mix, introducing a radical design that saw the front camera module moved to the bottom bar, with three sides of the display featuring ultra-thin bezels. The Chinese manufacturer refined that design with last year’s Mi Mix 2, sticking to a similar design aesthetic but decreasing the screen size to a more manageable 5.99 inches (from 6.44 inches).Xiaomi also got rid of the piezoelectric driver that was used in the first-gen Mi Mix, instead rolling out a regular earpiece that doubled up as a secondary speaker.

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Galaxy S9 and S9 Plus – First Impressions

Usually I leave my impressions and opinions of the devices until the end of my posts, but not today. The Galaxy S9 and S9 Plus are really great phones and they do bring a lot to the table, but if you own a Galaxy S8 or a Note 8, then it isn’t much of an upgrade. Let’s get started…

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Galaxy A8 and A8 Plus – specs and features

Samsung’s 2018 Galaxy A8 and A8 Plus have been announced a month ago, and I got to say that I’m in love with Samsung’s offerings from budget phones to mid-range phones. In this post, I’ll focus on the new phones’ specifications and features.

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Best Android Tablets in 2018

Written by Jerry Hildenbrand, Android Central


Samsung Galaxy Tab S3 (Best Overall)

The two most important things to have in a full-size Android tablet are a great screen and software that uses every inch of it. That’s what makes the Samsung Galaxy Tab S3 the best Android tablet.

An amazing screen from Samsung is no surprise. The 9.7-inch 2048×1536 Super AMOLED on the Tab S3 carries on the tradition, and it’s simply the best display on a tablet. Android and Samsung mesh to provide a great software experience and the new S Pen and its 4096-level pressure sensitivity makes taking notes or producing digital artwork a breeze.

Continue reading “Best Android Tablets in 2018”

An essential guide to customizing your Android phone

Written by Ara Wagoner, Android Central


Be different, not the same is more than a tagline when it comes to Android.

Android provides us the freedom to change nearly everything about our phones, especially when it comes to our home screens. We aren’t stuck with a bland grid of icons; we don’t live in our app drawers the way iPhone users do. We can add widgets; we can add search bars and gestures; we can have blank space wherever we want, not just at the bottom of an unfilled page! And if we don’t like the way our home screens look with the launcher that came with our phone, we can ditch it and use a third-party launcher, opening us up to new worlds of customization and theming.Continue reading “An essential guide to customizing your Android phone”