Billionaire investor Warren Buffett claims that the market for the leading virtual currency Bitcoin is already in bubble territory. Then on 28 November 2013, I wrote another blog post about an incoming Litecoin crash I related the price surge during that time, to the Bitcoin bubble of April’s Cyprus fiasco At that time, I had no clue how to judge resistance and support, but interestingly, the wisdom of crowds (more or less) pulled through with the right answer.
This feature, along with many others, has led to it being the pioneering platform of what is now called Blockchain 2.0. In 2017, Nxt’s core developers will be releasing Ardor, a blockchain platform that utilizes Nxt technology and allows users to create their own blockchains known as child chains, which are secured by the Ardor main chain.
For example, if a trader observes that the price of Bitcoin is experiencing progressively lower highs and lower lows, it’s safe to make the assumption that Bitcoin is in a downtrend The inverse is also true- if Bitcoin displays ongoing higher highs and higher lows, it’s safe to assume that the currency is in an uptrend.
Besides, you would need to get the required certifications and license and also meet the required standard for such business before you can be allowed to start a bitcoin exchange and trading business in the United States; internet based services that deals with payments is heavily regulated to guard against fraud and criminality.
Oliver Bussman, previously chief innovation officer at UBS and now president of the Switzerland-based Crypto Valley Association” that promotes blockchain-based technology, said Chinese authorities had to be especially vigilant about protecting consumers because of the lack of financial advice in the country, compared with Europe or North America.
Nimiq also uses them for cross-chain transactions to become compatible with the great work of projects like Ethereum and Bitcoin, thus allowing Nimiq users to access the advanced smart contract features of Ethereum while it allows users of other cryptocurrencies to exchange into Nimiq without an intermediary easily.
This results in a steady increase of the value of bitcoin, which is good for adoption (more people will buy it to speculate and sellers will accept it), but endangers it as a mean of paiement as buyers are always better of paying in $, which devaluates over time, instead of Btc, which will increase over time.
We have killed two birds with one stone: the financial reward that substitutes our need for a trusted central party with a marketplace of competing yet honest timestampers is the same asset that ends up in circulation for use as a digital bearer instrument in an electronic payments network that has no central party (it’s circular, I know).