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Blockchain Archive

Crypto Newsletter: Why Is HODLING Important?

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HODL is actually a slang term for those who are not familiar with the term and it has evolved in a philosophy based on the belief that cryptocurrency is the future and we shouldn’t sell them when dips occur on the market.  In this crypto newsletter we will discuss why exactly hodling is important and how does it fight the destructive actions of traders.

The market has been and will be always volatile. This is maybe because of its relative newness but also because there are significant events that affect the markets constantly. When things like this happen on the market, people tend to panic and start selling, overloading the market and eventually push the prices down. Other users see this behavior and also join the bandwagon thus further lowering the price. HODLing will actually protect the market in such cases.

The more people hold on to their coins and don’t sell them, the less damage the market is likely to suffer. These people aren’t really scared that the prices are dropping and don’t tend to make a quick fortune. It takes a lot of patience to hold onto your coins when the price fluctuations go crazy. There’s a common opinion that investing in cryptocurrencies is the same as investing in the stock exchange. Though the idea is the same, in practice is not exactly the same.

Many cryptocurrency users are now simply HODLING and thus fight against the two most destructive actions a trader can do which is FOMO (fear of missing out) or FUD ( fear, uncertainty, and doubt). Other HODL because they believe cryptocurrencies will eventually replace fiat currencies and they will get rich when this happens.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Stefan has been a Bitcoin Specialist for over 5 years. Providing daily news and updates for DC Forecasts.

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Blockchain Archive

Best Cryptocurrency Exchanges For Beginners

Before picking a cryptocurrency exchange, you should first consider a few key elements such as security, fees, reputation. The below-listed exchanges offer some of the greatest combinations of these elements and you should make sure to check them out.
  1. CEX.io

This exchange will allow you to purchase bitcoin with a credit card, cash or SEPA transfer. They have low trading fees of 0.2% and operate in many countries around the world. The verification process can be a little extensive. CEX (additionally prominently known as CEX.IO) has been around since 2013. This altcoin trade has a significant ruling nearness and is especially known for the way that it bolsters Credit Card installments. CEX at first began off as a Bitcoin exchanging and cloud mining stage, however, has since ventured into turning into a legitimate, undeniable Altcoin trade. CEX has a high exchanging volume and offers various levels of record checks. The most abnormal amount of checked records can make substantial exchanges consistently. Their day by day store and withdrawal confine is 10000$ every day and 100000$ every month! This makes CEX extraordinary compared to other altcoin exchanging stages for the individuals who bargain in huge sums.
  1. Bittrex

Bittrex is on the list of the 10 largest crypto exchanges and there’s a reason behind that. Bittrex supports a lot of coins that other exchanges don’t. The platform’s team recently worked on a new interface that is simpler and easier to use because they were getting lots of complaints from users that the interface was incredibly confusing. They listened to their users and changed the interface after three years of using the same one.
  1. GateHub

Gatehub is not only a Ripple exchange. It also works as a Bitcoin and Ethereum wallet. It makes it possible for users to exchange and store cryptocurrencies. It works with private keys and passwords that are heavily encrypted. What is most amazing about GateHub is its ability to access your wallet even if you forget your private key. You can access it via other platforms. Of course, this may concern some users that this might be easy for hackers to attack your wallet, but it is highly unlikely since the hacker would need a two-factor authentication to log in.
  1. BitStamp

Bitstamp is one of the first exchanges in the world. It’s based in Luxembourg and it’s one of the first digital asset exchanges in the entire EU. Bitstamp announced that they would start XRP trading in January 2017, and so they did. The first month of the membership is fee-less. Of course, as with any other good product, with the increasing demand, the prices changed. People in the EU recommend Bitstamp because it has less than 0.25% fees and also they can deposit Euros with SEPA without any charge. The great thing about it is that it is licensed. You can buy XRP here with Euros or dollars. They offer great, transparent and efficient services.
  1. Gemini

Gemini is a New York-based exchange but it’s also very popular in South Korea, Singapore, and Canada. It’s trustworthy and has some of the lowest fees in the US. It can be a little confusing at first and also it’s not available for every state in the US.
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Blockchain Archive

CHFC: Cryptocurrencies Should Be Regulated To Prevent Money Laundering

A recommendation from the Canadian House Finance Committee for regulating cryptocurrencies to prevent money laundering is in the blockchain news today according to a report from the Canadian digital newspaper iPolitics. The Canadian House Finance Committee proposed a suggestion to regulate cryptocurrencies during the review of the Proceeds of Crime Money Laundering and Terrorist Financing Act that happens once in five years. The committee started meetings in February 2018 and came up with a couple of ideas on how the government could regulate cryptocurrencies. The first idea is to control exchanges that allow fiat to cryptocurrency while defining the entity that provides the exchange as a service business. The second idea is backed up by the new regulation released in Canada this summer where cryptocurrencies are defined and exchanges as money-service businesses. The second recommendation is meant for the government to require a license from crypto exchanges much like New York’s BitLicense. In the article there are plenty of suggestions by the IJW financial adviser and law firm Duran Morrisseau which refer the dubious crypto transactions done in an unregulated space:
 “Cryptocurrency transactions may be used by parties to swiftly move large amounts of wealth across borders, and that regulating (exchanges of fiat currencies for cryptocurrencies) would address the (anti-money-laundering) concerns of the cryptocurrency space.”
The last recommendation is to regulate all crypto-wallets to make tracking easier. The government is required to provide an answer to these suggestions in 120 days. Crypto regulation is a major subject around the world and many countries are implementing the regulation.
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Blockchain Archive

Thailand’s Democrat Party Carries Out Primary Elections On The Blockchain

The biggest opposition party in Thailand, the Democratic Party, hits the crypto news today for becoming the first large political party in the world to conduct primary elections completely on the blockchain. The party used a live e-voting system where more than 120,000 voters were involved at the start of November. The voting system was powered by the Zcoin blockchain. Thailand’s Democratic Party was inspired to use the blockchain after a Thai rap music video named ‘’Rap Against Dictatorship’’ became extremely popular for being the first song against the politics in Thailand for music to be stored using a blockchain after there were plenty of indications that the government wants to censor the video. The video was saved on the Zcoin blockchain and this is how the opposition got the idea. The party elaborated the concept by using IPFS to improve the process of the election record integrity. Voters were able to participate by using a mobile phone app or manual voting at a physical station. The founder of Zcoin said:
 “I am very proud that Zcoin played a role in making Thailand’s first large-scale e-vote, a reality, which saw greater voter participation and transparency. I believe we’ve achieved a huge milestone in our country’s political history and hope that other political parties or even the government not just in Thailand but in the region can look to using blockchain technology in enabling large-scale e-voting or polling.”
The encryption keys used in the process of voting were split by a cryptographic method which makes sure that you need consensus to decrypt the entire voting data. This means that voter ID documents could be decrypted by an accredited official only. You can check out the voting activity on the Zcoin blockchain explorer.
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Blockchain Archive

15 Industries Blockchain Could Soon Revitalize

The blockchain technology has gone far beyond the expectations of its creators. Today, this technology is used in many industries and in everyday life. This means improved consumer-merchant relationship. No intermediaries are used in the process and thus consumer can close better deals and also be rewarded for participating. Many industries such as retail, energy, media, and education are well aware of the advantages of blockchain technology. This is why many new startups are evolving, each one more attractive than the other just so the different sectors of the industry can have an easier way of getting the job done. Hyperproduction is possible, but it is an inevitable part of the evolution process. Blockchain technology proved to be a very important tool in the tech world. It offers many opportunities for companies and startups in many fields such as banks, insurance, retail, and real estate. This is why we show you some of the best blockchain apps that you could start using right now.
  1. Banking and Payments

Blockchain can be used to provide financial services to thousands of people around the world especially those who don’t have access to traditional banking. With bitcoin, anyone can send money across the world instantly without or with relatively low fees. Many banks are working to adopt blockchain technology in order to make all of their business operations faster and more efficient. Banks are heavily investing in blockchain projects and startups and it is predicted that almost 20% of the banks in the world will be using blockchain technology by the end of 2019.
  1. Supply

By using blockchain technology, every transaction made on the blockchain is documented permanently and it is made secure and transparent. This helps a lot in saving time and also reducing human errors. The blockchain also helps in controlling the real impact of the products on the environment. The distributed ledger allows the verification of the authenticity of trade products by tracking them from where they come originally. Also, by using this amazing technology you can monitor the costs and labor and waste at every point of the supply chain.
  1. Cyber Security

Despite the blockchain ledger is public, all of the data is verified and encrypted by using advanced cryptography. This way, the data is highly unlikely to get hacked or influenced in any way without authorization. All of the applications built on the blockchain are relatively young so there have been several hack attacks and hack attempts but they actually help to build an even stronger defense and resilience.
  1. Voting

This is probably the most important area of the impact blockchain has in everyday life. Blockchain technology can be used for voting too. Although it may sound a little crazy, this can help with the issues of rigged election results. Voters can register and only the legitimate votes to be counted without votes being deleted or changed. This can be a great step ahead in making elections more democratic. By creating an immutable public ledger with the recorded votes, the elections will be more transparent and fair.
  1. Forecasting

The blockchain will likely change the entire approach to analysis and forecasting. Online platforms that are looking to create global decentralized prediction markets already exist. Such technology can be used to monitor sports betting for example but also stocks and elections.
  1. Networking and the Internet of Things

IBM and Samsung are already creating a blockchain based concept named ADEPT which will create a decentralized network of IoT devices. This will help eliminate the need for a central space to handle communication between them. The devices will also be able to communicate with each other directly.
  1. Insurance

Blockchain will help manage trust management and be used as a verification tool for different types of data in insurance contracts. There is a blockchain project for building tools helpful in the insurance industry named Aeternity.
  1. Private Transport and Ride Sharing

Decentralized versions of peer-to-peer ridesharing apps can be created with the use of blockchain allowing car owners and users to create their own terms and conditions without third-party providers. The crypto built-in wallets will let owners automatically pay for parking, tolls, and gas/electricity top-ups.
  1. Cloud Storage

Centralized servers are really vulnerable to hacking and data loss. By using blockchain technology, cloud storage is more secure against attacks.
  1. Charity

Charity is a huge sector that people tend to offend by saying that it is corrupt and inefficient. There have been many times where the donated money didn’t end up to the people that need them the most. With the blockchain technology, donations can be tracked and you can make sure your money ends up in the right hands.
  1. Government

Government systems are usually very slow and prone to corruption. By implementing blockchain-based systems, the bureaucracy will significantly reduce and also the efficiency and security but most importantly transparency will improve.
  1. Healthcare

Healthcare is among the most important systems around the world. It is also very prone to lack of security and storage data and also outdated infrastructure. Blockchain technology can help hospitals safely store data and share it only with authorized professionals and patients. This way, data security will be highly improved.
  1. Energy Management

Energy management is a pretty centralized industry for a long time now. Energy producers are not really able to buy electricity from each other directly and they have to go through the public grid or other trusted intermediaries. Blockchain can help by allowing customers to buy and sell energy from multiple sources in a peer-to-peer way.
  1. Online Music

This is one of the best uses for blockchain. Musicians can get paid directly from their fans without having to share the profit with the music platforms or record companies. Smart contracts can also help for automatically solving license issues.
  1. Real Estate

Real Estate purchase can be a whole lot of trouble. You will enter in the harsh world of bureaucracy and you fill find hundreds of mistakes in the public records. By using blockchain, transaction time will be cut down, the paper-based record keeping will not be necessary anymore and the verifying and tracking of the ownership will be extremely easy. There are several platforms that offer real estate blockchain services and keep you away from the paper record-keeping as far as possible.
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