Not long ago, the HelloBTC issued a statement saying that 2% of the world’s people really understand the blockchain. According to the total population of 7 billion in the world, is there really 140 million people get involved in cryptocurrency and blockchain?
Now, we’d like to roughly estimate how many cryptocurrency participants in the blockchain industry based on the data analysis.
Some time ago, the US SEC announced that Bitwise’s proposal to list the Bitcoin ETF in the NYSE Arca was rejected because it did not meet the legal requirements of “preventing market manipulation and other illegal activities.”
Although we have introduced the enchantment of Bitcoin ETF before, what exactly is ETF and what is Bitcoin ETF? It’s still confusing, so let’s talk about the ETF today.
When we choose a platform for cryptocurrency trading, the first thing we need to consider is the security and market depth. Generally speaking, the top trading platforms in the world can meet all the two features, namely good security and market depth.
Needless to say, the security is easy to understand. How about the market depth? How to measure the market depth? Let’s have a discussion on it in this article.
Since its birth in 2009, the price of bitcoin has gone from scratch to a few cents and even as high as US$20,000. The astonishing increase has not only made many early investors earn a lot of money, but also attracted thousands of latecomers to “follow up”.
Under the influence of slogans such as “To Da Moon” and “one coin for one villa”, many “followers” have completely lost their sanity and forgot the advice of “Investment is risky”. Driven by the FOMO (fear of missing out) psychology, they rushed into the cryptocurrency market. Once the bear market came, they were “given a good beating” in the market.
On July 24th, Jonas Schnelli, a member of bitcoin core development team, failed in online shopping and he angrily asked BitPay why his order was rejected on Twitter.
The news about 51% attack on bitcoin with US$760,000 was widely spread on the network, and some well-known currencies such as ETH, BCH and BSV had all become the targets. It seems that the cost of launching a 51% attack is far less than our imagination. Many “smart guys” quickly came up with the idea of launching a 51% attack on bitcoin to get profits in the futures market. Unfortunately, they are just daydreaming.
As the pioneer of bitcoin, POW (Proof of Work) is widely regarded as a solution integrating security, decentralization and fairness in the consensus mechanism. The stable operation of bitcoin network for nearly decade is the best example.
The only way against POW mechanism is the 51% attack —- when certain attacker controls more than 51% of all the hashrate, he can generate the longest chain singlehanded —- the attacker can make hard fork with double-spending attack anytime. It is easy to see that such an attack demands big price from the attacker, so it only theoretically exists on paper until May 2018.
Even in the bear market of 2018, the bitcoin prices have fallen by about 85% from the peak, however, the bitcoin is still worth about US $3,000 in the market. Therefore, all the investors must be very concerned about the security of bitcoin.
So, is bitcoin safe? In other words, can hackers easily steal the bitcoin away from the wallet?
As a well-known saying goes: If you want the world to know you’re ignorant about bitcoin, the best way is to use the “tulip bubble” as a metaphor, and the second is to claim bitcoin as a “Ponzi scheme.”
Today, we’d like to talk about why bitcoin is not a “Ponzi scheme”.
The market value of bitcoin has been over US$200 billion, accounting for nearly 70% of the cryptocurrency market. According to cryptographer and trader Rhythm, the market value of bitcoin has surpassed the legal currencies in South Korea, Brazil, Canada, Mexico and Australia to become the 11th largest currency in the world.