Cryptocurrency News, Guides and Reviews
Cryptocurrency - Stay Informed
Cryptocurrencies seem to be the hottest investment products going around. Eavesdrop on any of your friend's conversation, it is about bitcoins. All the workplace chat is also about virtual currencies. The buzzword over online chat rooms is also about cryptocurrency these days. There is a silent economic revolution taking place, thanks to the rising popularity of these virtual currencies.
It goes without saying that if you want to make it big in the world of bitcoins, then you must have a nose for the news. Now, that you have narrowed down your list to a few cryptos, you will have to analyze and decide which ones have the potential to trade higher and faster than the rest. This is the reason why you need to keep tracking the news. You will scan for information on blockchain trends from various sources. These days several business channels devote exclusive time for these trends.
Another potential source of information can be others who are into virtual currencies trade. Get to know a few of them who are very good at trading and pick their brains for valuable information. The internet is a great way to get in touch with such experts. You can find them through online forums. Keep in touch with them regularly. Similarly, you can also subscribe yourself to websites that specialize in cryptocurrency trading. This way you can ensure that you are not missing out on any important news.
Good sources of information on cryptocurrencies can be attained from different organizations. They offer plenty of information about the blockchain ecosystem. The website of this organization offers extremely detailed information on digital currencies.
Keeping your coins safe
Security is another thing that is of crucial importance whenever you are dealing with cryptocoin. Since you will need to create and use several passwords for different accounts, it is suggested that you use a password manager. Make sure that you use a strong antivirus on your computer. A good firewall is also mandatory in order to ensure the perfect security of your data and online transactions.
Another important thing that you need to follow is to never reveal how much you traded in cryptocurrencies online. This is true both offline as well as online. You must also never make the mistake of clicking on the links of anyone on crypto groups. You could so easily end up downloading a virus on your computer. Most pages on these groups are known to contain viruses.
What Is A Cryptocurrency And Bitcoin?
The Web is part of society and is shaped by society. And until society is a crime-free zone, the Web won't be a crime-free zone.
So what is a cryptocurrency? A cryptocurrency is a decentralised payment system, which basically lets people send currency to each other over the web without the need for a trusted third party such as a bank or financial institution. The transactions are cheap, and in many cases, they're free. And also, the payments are pseudo anonymous as well.
As well as that, the main feature is that it's totally decentralised, which means that there's no single central point of authority or anything like that. The implications of this is done by everyone having a full copy of all the transactions that have ever happened with Bitcoin. This creates an incredibly resilient network, which means that no one can change or reverse or police any of the transactions.
The high level of anonymity in there means that it's very hard to trace transactions. It's not totally impossible, but it's impractical in most cases. So crime with cryptocurrency-- because you've got fast, borderless transactions, and you've got a high level of anonymity, it in theory creates a system that is ripe for exploitation. So in most cases when it's a crime online with online payment systems, then they tend to go to the authorities and, say, we can hand over this payment information or we can stop these transactions and reverse them. And none of that can happen with Bitcoin, so it makes it ripe for criminals, in theory.
In light of this, a lot of different agencies are researching into Bitcoin and looking at Bitcoin and trying to understand how it works and what they can do to police it. It's also been in the media quite a few times, and the media, being the media, like focus on the bad side of it. So they focus very heavily on the crime with it. So if there's a theft or a scam or something like that, then they tend to blame it on Bitcoin and Bitcoin users.
So the most notable is probably Silk Road, which got taken down recently, and through their $1.2 billion worth of Bitcoins, went to pay for anything from drugs to guns to hit men to those sorts of things. And the media, again, very quickly to blame this on Bitcoins and say that it was the Bitcoin user's fault.
But there's actually very little evidence of the scale of the problem of crime with cryptocurrencies. We don't know if there's a lot or we don't know if there's a little. But despite this, people are very quick to brand it as a criminal thing, and they forget the legitimate uses, such as the fast and quick payment.
So a few research questions I'm looking at in this area is what does crime with Bitcoin look like? So a lot of people will say that scams and thefts have been going on for ages. But the means through which they happen changes with the technology. So a Victorian street swindler would practically be doing something very different to a 419 Nigerian prince scammer.
So the next question that I'd like to research as well is looking at the scale of the problem of crime with cryptocurrency. So by generating a log of known scams and thefts and things like that, we can then cross reference that with the public transaction log of all transactions and see just how much of the transactions are actually illegal and criminal. So my final question would be, to what extent does the technology itself actually facilitate crime? By looking back at the crime logs, we can see which particular sorts of crime happen, and if it is actually the technology's fault, or is this just the same old crimes that we've been looking at before. And once we've consider these things, we can start to think about possible solutions to the issue of crime with Bitcoin.
And we can consider that the only suitable solution would be one that preserves the underlying values of the technology itself, which would be privacy and decentralisation. A lot of focus from the media is to look at the criminal aspects of it. And they don't give enough value to the legitimate uses, because Bitcoin is a technology that enables fast, quick payments, which is useful to anyone that's ever paid for anything on the web.