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New Post has been published on http://baseberry.com/archives/6404

Problems with Cryptocurrencies, are they set to improve

There’s still a huge rift in this industry and many Problems with Cryptocurrencies. It’s either you buy into crypto or you don’t. but to be completely fair, it’s okay to have questions about crypto. It’s only natural to have this.

There are many Problems with Cryptocurrencies that still need to be solved. We’ll look at some of them and try and see where they can be improved.  I would not blame anybody who is still not sure about crypto. Well, if you stand on the fence we’ll try and help you join ne side and hopefully it’s the crypto and blockchain is really good just needs a few tweaks side.

Problems with Cryptocurrencies: High Volatility

The price of Bitcoin has been going up and down in the past four years. This makes it a lot harder for investors to trust that ecosystem as a worthy investment. Another thing is most people don’t know what crypto currencies and how they work hence predicting their price becomes very difficult.

Also many new currencies are started just to raise money and after that they disappear and leave people blaming the entire system. This is very frustrating and for sure something needs to be done asap to help people out.

Low Scalability

This is the most debated areas in terms of  Problems with Cryptocurrencies. Currencies are faced with a dilemma, either to choose between speed or security and decentralization. Most coins choose the latter and hence transactions are agonizingly slow. This is a huge hinderance for many people and they opt for fiat currencies. Due to how inconvenient crypto is at the moment.

Absence of Regulations

This is a super frustration for many. Especially new investors who are unable to trust the system. The fact that many people may exploit crypto and use it for unethical means. This is is a massive Problems with Cryptocurrencies that turn off for any investor. Regulation is needed to help improve and help get more people involved. The regulations need to reign in on bad behavior. Strong regulations are needed if crypto is to be recognized internationally.

Liquidity Issues

This is also a problem fiat currencies face. Many of them cannot be liquid. Selling any assets without affecting the value of the currency is almost impossible for the investors. investors can lose hundreds of dollars before they sell the currency.

Cybersecurity Concerns

Cryptocurrencies are also prone to breaches and hacks. many crypto companies report millions in lost coin due to hacking. Also, many ICO’s have faced issues with security breaches and hacking which cost investors millions.

The hackers are getting smarter and now attacking their systems for ransomware. This compromises a lot of data and firms end up losing a lot of money and credibility. This is very dangerous especially if it’s a new startup which needs funds. This could put them out of business leading to many people losing their jobs.

Problems with Cryptocurrencies: Way Forward

Crypto are still young. The existing hurdles can be tackled by practical solutions. For crypto to flourish these problems need to be addressed as soon as possible. They could start with a regulatory framework to govern the application of cryptocurrencies.

Maybe countries form a union and govern to help deal with this. It has to be self-governing so as not to curtail the gains already made due to bureaucracy and other similar occurrences. Many companies are already working on scalability and will eventually find a suitable way to deal it. It’s also important to deal with volatility and give investors confidence.

New Post has been published on http://baseberry.com/archives/6402

BTC Vs BSV: what is the difference

Bitcoin is a crypto currency. The one we all know regardless of how much you care about the industry. To understand what BTC vs BSV are, we have to go back.

BTC Bitcoin cash is a cryptocurrency that is a fork of bitcoin. And by fork, I mean changes in protocol to the bitcoin network and are similar to software upgrades.

In 2018 bitcoin cash split into two cryptocurrencies: Bitcoin cash (BTC) and Bitcoin SV (BSV). Bitcoin cash was created when the need to increase count of transactions per second. There was a huge push from part of the community to create hard fork to increase the block size limit.

This was because some part of the community felt that adopting bitcoin as it was without increasing the block limit would only work to favor people who treated bitcoin as a digital investment rather than a transactional currency. This part of the community wanted bitcoin cash as more a medium of exchange than anything else.

There was lot of friction from various factions about increasing the block size. However, developers, blockchain activists, investors and mostly large china-based miners were not happy with the initial plans to increase capacity and pushed alternative plans which created bitcoin cash.

BTC Vs BSV: Understanding BSV

  The debate started early on in 2013, as I had told you earlier. The question was about scaling bitcoin. Satoshi, who had implemented the fixed block argued that there wasn’t a need for the fixed block saying hardware would improve and hence support larger blocks. Those with the contrary opinion said it would become increasingly difficult to run on a full node (which is a node in the blockchain network that has stored the entire transaction history).

This would mean only big firms, with lots of funds and excellent hardware could verify blockchain. Abolishing the fixed would mean Changing the rules a hard fork. This led to the scenario I drew out in the first paragraph. Fast forward to 2018, Bitcash (BCH) decides it would take the path of larger blocks and it was agreed within the BTC community to conduct hard forks twice a year.

The in November, when the second hard fork was about to happen controversy ensued. This led to the birth of bitcoin SV (satoshi vision). This event split the bitcoin cash community into two groups. The battle was fierce, every party fighting for what they thought was right for them.

Are BSV Microtransactions Price Pumping?

Now that you know the history, we can now answer this question. I decide not to bore you with jargon and intricacies of how they all work, but you’ll have to excuse me on this one. I came across a tweet that claimed: the huge amount of microtransactions of BSV happening are evidence of “price manipulation” and “fake activity”.

Another thing to look at in BTC Vs BSV is the transactions of BSV are twice that of BTC. Plus, also BSV have occasionally passed the 1 million transaction per day marked. These allegations are not true because it is well known that these two applications.

That generate microtransactions and record massive volumes of data could be considered price manipulation. And also because their transaction volumes do not correspond to large price movements. Baffles me how one can think of such absurdity.

New Post has been published on http://baseberry.com/archives/6389

Crypto Faces Big Firm Opposition: How is Google Killing Crypto

The rise of CRYPTO has been slow but sure. Since the bubble burst its been a tough 24 months for all stakeholders involved. After all that you’d want to believe the worst has already passed ,right? Well that’s not so,here is a read on how google is killing crypto.

Google, believe it or not, the people supposed to bet engineering our future is busy trying to fight it. I’m not paid to give my opinion, well,technically I am, but it seems like hypocrisy from where I’m standing.

But what do they stand to gain? Why would they want crypto dead? This is what we’re going to look at. To be frank this doesn’t come as a surprise. We always new the establishment had been always against it.

How Is Google Killing Crypto?

A month ago, a puzzle game called bitcon blast, which rewarded its users with redeemable points was suspended without any warning from the google play store. Funnily enough, it was available on the app store. This was one way google started showing these fishy signs.

But the app has been reinstated after the parent company cried foul. Soon after YouTube banned a lot of creators from its platform but later reversed this after facing backlash. It doesn’t end there, google suspended a popular crypto wallet and mobile app and yes you called it.

They reinstated it after.  This caused an outcry from stakeholders letting others be aware how google is misbehaving. People have called for a boycott because of this unfair treatment. It’s very weird . People can only speculate what is really going on.

Why Is Google Killing Crypto?

It’s not really clear what is going on, we can only sit here and guess. It’s scary when you really think about it. Although it could be that Google wants to get into financial services and they’re afraid that allowing bitcoin to flourish on their platform may hinder partnerships from big banks who will facilitate their ambitions. As we’ve known banks are not really bought with the idea of crypto.

The search engine giant has made a deal with Citibank, a financial giant in the states and that may explain the reason for this reckless and unfair behavior.

They may also be trying to put pressure on many crypto exchanges and companies to do more to promote better and more open dealings. This maybe bully tactics, but may improve crypto in fine light in the long term. Or maybe google is scared, scared of what you ask? Well its been long known that block chain aims at decentralizing the internet.

The same internet google holds a monopoly on. This may be a tactic to try and save its backside. This,however, holds less water when you really think about it. Since the block chain is not near threatening banks let alone the internet, it still has a long way to go.

What Next?

Well, nothing really. We just wait and see and hope it was just a slight misunderstanding and nothing more than that. But I do believe, that even if google want to harm crypto, I’m confident crypto will find a way of thriving without the morgul.

New Post has been published on http://baseberry.com/archives/6385

How Rich Would You Be If You’d Have Invested in Bitcoin From 2015

You probably hadn’t heard of bitcoin back then or thought those who Invested in Bitcoin were scammed. Bitcoin sold for a dollar back then. A dollar! Well, to put things into perspective, if you’d bought one bitcoin then, it would be worth a whooping 10,000$ today. Staggering if you really think about it. The figure had reached 20,000$ in 2017.

It’s not normal that commodities shot up like that in a small amount of time but bitcoin did. The rise of crypto has been short and sure. Most people probably brushed it off five years ago as something else that doesn’t matter. And, surely had not Invested in Bitcoin.

Well, I’d love to meet those people now. Whether we’ll see another price spike? No clue. But should you invest in Bitcoin now? Well yes. Most definitely yes.

You don’t need 10,000$ and may I remind you there are thousands of crypto coins out there. So, there’s very high possibility that there’s another bitcoin out there super under priced. Just waiting in the sidelines to eventually run out charging like a bull just seen a matador or one with a cowboy on its back, but I digress. The crypto industry is now mature and its very difficult for other crypto to emerge like that. But one surely will.

1$ To 10,000$

I still cannot believe this figure. It’s incredible how fast that has been. I’m proud how fast people have taken up to crypto hoping for another surge especially those who had not Invested in Bitcoin.

Thousands of startups creating coins and hoping they become the next big thing.  I cannot blame them. Don’t we all want to make ten thousand dollars for one dollar? This mentality sadly has led a lot of people to do the wrong thing.

In 2017, bitcoin was selling at 20,000$, this led many people to speculate that it was going to shoot up even further to 100,000$ and people invested a lot of many expecting this to happen. Disaster. That’s what happens next. Thousands if not millions of people lost all they had saved. Sad indeed. If you were one of the affected, I do apologies.

Things do go how you don’t expect them to. But still, in this period of chaos for many, there’s a small percentage of people that became instant billionaires. Mixed fortunes. That’s a normal day at the markets I’m afraid. The problem is many people just wanted to make a quick buck, not really knowing what crypto really was.

Those who Invested in Bitcoin for A Dollar A Day

I came across an interesting article that was the actual inspiration to writing this.  There had been a video showing a guy who asked what would invest a dollar a day since 2015 would make today? This really inspired me and got me thinking why I never did. Doing the math, you’d have to invest around 2000$ and you’d get returns of around 20,000$.

You probably waste more than a dollar a day on things that really don’t matter. However, people were quick to point out that it was not possible to buy a dollar worth of Bitcoin since most exchanges have a minimum of 2$ plus fees. It is possible to do it today using the lightning network, which you could not use back then. So, I’d not really worry to much.

New Post has been published on https://baseberry.com/crypto-viewed-traditional-assets/

Should Crypto Be Viewed as Other Traditional Assets?

If this is a question on crypto as traditional assets you’ve asked yourself, I don’t need to sell you. You’re clearly ‘woke’. However, they’re a bit different from traditional assets.

Can you imagine the thought of you deleting a folder and your riches vanish, or casually forget your password and you have locked yourself out of your hard earned “asset”.

If that doesn’t get you tingly, imagine you could buy or mine a whole lot of cryptocurrency and keep it all to yourself then get hit by a bus. Your family and loved ones will never get to see any of it.

Vanished like any chance of you having a beautiful corpse I’d assume, but I digress. Crypto is really kicking into gear after the 2017 crash, if you’re going to do it, there isn’t a better time.

Delete My Crypto?

Cryptos are basically electronic monies. So, to this point they’re stored in folders and you could actually delete them by pressing a button.

Recovery is virtually impossible. But this would indeed be worst case scenario. In the real world Crypto is stored in wallets. Wallets are physical mediums, programs or a service store the public or private key used to take ownership, receive or spend of cryptocurrencies.

Private key meaning (without getting to geeky) code that protect your crypto. Also choose a cold wallet (a crypto wallet not connected to the internet). But not many crypto currencies accept this. Also, cold wallets are expensive compared to its counterpart, yes you guessed it, hot wallet which are free. So, as we’ve seen its possible to protect, you’re crypto as you would any other asset.

Can Hackers Get My Crypto?

Well, can a thief steal your money? Yes, they sure can. But crypto however it’s a bit difficult, but possible. Blockchain cannot be altered. But if majority of the people on the network decide to hack it, what’s commonly known as the 51% attack, then it will be infiltrated.

Most cryptocurrency hacks occur at exchanges, which is where people trade. But generally, it’s as safe as taking your money and entrusting it to strangers in a bank. So far, it seems you can barely tell the difference between cryptocurrency and other traditional assets. Due to these issues there’re a lot of companies sprouting up to protect such things from happening.

Is Crypto Really Like Traditional Assets?

I’d be compelled to say yes and no. Yes, like all other traditional assets its destructible, its value fluctuates and it can disappear in whichever way. I know, this may not be wanted to hear, but you came here to find out. But the biggest reason I say yes, because it needs to be taken as seriously as any other traditional asset. I say no because, they’re no banks involved or government getting in your way. Which make it better.

Invest?

If you have deemed cryptocurrency a good investment choice, I’ll suggest you do your homework, starting here was great of course but further your studies. Many jumped on the coin bandwagon to make a quick buck. Well, most of those people probably didn’t succeed and have moved on to something else.

There are companies who protect your crypto in case of any accident. Recently also there are a few tracking it and helping authorities hunt down illegal activity.

New Post has been published on https://baseberry.com/malware-dropper-invasive/

What is Malware dropper and why it is so invasive?

Crypto currencies were designed to remain secure and anonymous. But with the technological revolution that it is, hackers have also stepped up. The latest tool they are using is the Malware dropper.

What is the malware Dropper?

This kind of malware works much like a trojan virus. The malware is uploaded with another program to your computer, giving access to the hacker. From then the crypto hacker can use the program to steal processing power and mine the coin.

So far the malware dropper has been associated  with Monero, and experts believe it is only a matter of time before hackers move on to more established coins like Bitcoin. This process is also called hallowing.

“As the dropped file is only made of skeletal code with no behavior on its own, the file can stay undetected in the system and possibly evade even manual detection when dormant,” the report explains.

“The attackers can choose to activate the malware at specific times “As the dropped file is only made of skeletal code with no behavior on its own, the file can stay undetected in the system and possibly evade even manual detection when dormant,”

the report explains. “The attackers can choose to activate the malware at specific times.”.”

But what makes the malware dropper so effective

The major property that makes this program so effective at stealing your mining power is that it can lay dormant in your computer until it is activated by the hacker.

This means even a thorough manual scan of your device may not detect the malware. Instead the hacker can put it on and off at will, making it even harder to detect and eradicate.

The Malware Dropper also requires a series of commands to active it and deactivated it. This makes it even more difficult to remove from your device once you detect it.

All the “security” set in place by this malicious code leave no traces of hacking.

How to defend against Malware Dropper?

You can use  unified endpoint management (UEM) which is by far the most effective way of monitoring hacking. The tool regularly monitors end to end activity on the black chain. It can easily spot irregular activity and unprompted transactions. One of the ways it monitors irregular activities is by detecting a surge in CPU usage which is mostly associated with crypto hacking.

An inexpensive way is to regularly manually check for changes in your network yourself. This is great for small time miners as it is effective and cost effective.

Bitcoin is not as safe either with quite a number of attacks in the past. The principle of hacking Bitcoin is quite similar to the one in Monero.  But with Bitcoin hacking the hacking process has been streamlined to ensure that the Bitcoin blockchain has been updated to avoid any detection.

Conclusion

New Post has been published on https://baseberry.com/bitcoins-2020-halving-catalyze-fomo/

Why Bitcoin’s 2020 Halving Will Catalyze “FOMO” and “Large Bull Run

If you know any thing about cryptocurrency then you understand how a big deal the Bitcoin’s 2020 Halving is. If you don’t, then you need to understand the fundamentals of BTC mining.

In a nutshell, new BTCs are introduced to the industry as rewards for minors when they mine Bitcoin blocks. When Satoshi was making the regulations for Bitcoin protocols, he pointed out two essential things:

The supply of BTC is restricted and finite to 21 million. The other important thing is that the number of BTC mined per block should reduce by 50% for every 210k blocks.

The duration takes for BTC Halving

Because six blocks are available on average with a 60-minute and halving takes place once in 210k blocks, then halving events will occur every four years. meaning we will have the next event with Bitcoin’s 2020 Halving.

Basically, this means that BTC generation rewards will be reduced by 50% from the initial amount. For instance, if every BTC generator gets 10.5 BTC for mining a block, they’ll get 5.25BTC after the halving event happens.

Since 21 million BTC have been mined over the period, that does not imply that there are 21 million BTCs available. It would be best if you considered the lost BTCs that won’t be recovered.

Within the next six months, the world is expected to see the Bitcoin’s 2020 Halving. Recognized as halvening/halving, the number of coins provided per block to miners will be cut 12.5 to 6.25. That means that Bitcoin’s inflation rate will be cut into equal parts.

The halvening mechanism must be stored in the code in many years to come. And will guarantee there will be 21 million BTC available. This links to Satoshi’s apparent obsession with building a scarce and hard type of currency that is not like fiat money that is printed with no limits.

Most developers and economists have doubts about Nakamoto’s decision to limit the number of coins to be printed.

Since it’s recognized as a not feasible in the long run. Stakeholders and other people involved in this industry suggest that helvening event will bolster Bitcoin. Making mass FOMO among investors.

Bitcoin’s 2020 Halving posed for Bull Run

Recently, TokenDaily published a report known as “the 2020 crypto crystal ball”. In this case, the company published predictions from executives in the industry about the New Year for the crypto market.

The majority of those mentioned stated that they anticipate for the 2020 halvening to have a definite positive effect on the BTC market.

Not every person convinced

The interesting thing is that not every person is convinced that helvening will do magic for the market. Jason Williams, the founding partner of Morgan Creek Digital, pointed out that at the Bitcoin’s 2020 Halving won’t affect the price in May 2020 since it won’t be an event. This declaration comes during the start of a great recession in the crypto markets. This has played a role in discouraging many hulking sentiments and narratives being published this year.

Jason is not the only person with doubts. Jihan WU, founding partner of Bitmain claims that he thinks that bitcoin Bull Run might not be an event in 2020.

Maths favors Bitcoin bulls

The truth is mathematical figures might favor the bulls.

PlanB, a leading institutional quantitative specialist interest in BTC, discovered earlier 2019.  The market capitalization of bitcoin could be defined by the stock-to-flow ratio of the crypto.