Bitcoin 2040 – Global, Decentralized and Unstoppable

Bitcoin 2040 - Global, Decentralized and Unstoppable

Bitcoin Price vs. Market Cap and a Fresh All Time High

When writing this postbode at Five:22 pm on Thu Nov 2nd the spot price of BTC is $7,062 USD.В В It peaked at $7,444 earlier today.

The spot price of one Bitcoin seems phat at $7,000, but that is due to the limited supply.

OnlyВ 16,660,650 BTC exist spil of today.В Only 21,000,000 will everzwijn be created.

This is why Bitcoin is considered a store of value.

Bitcoin is scarce.

The market cap of all BTC today is $110-120B dollars when trading inbetween $7,000-$7,400.

BTC market cap had surpassed $100B for the very first time when it wasgoed trading for $6,000.

Two weeks straks, it has added another $10B ter market cap.

There is more big money beginning to flow into Bitcoin.

BTC going from $6,000 to $7,000 seems like a massive leap.

Compared to the largest tech stocks it’s not unreasonable for market cap to fluctuate by more than $10B ter two weeks.

Some tech company market caps for comparison –В

Apple (AAPL) is worth $868B at $168 vanaf share.В В Will AAPL klapper $1T Market cap before BTC?

BTC at $60,141 today = $1T market cap.

$1T = One Trillion Dollars.

That’s a lotsbestemming of zeros.

Facebook (FB) is worth $520B at $180 vanaf share.

Facebook wasgoed worth $104B at $38 vanaf share when it held the initial public suggesting on May Legal, 2012.

Swift forward and Facebook is worthВ $520B at $180 vanaf share.

AВ 5X increaseВ inВ Five.Five years forВ anyoneВ whoВ investedВ on the very first day of theВ IPO.

Facebook is still 5X more valuable than Bitcoin.

How soon can BTC overtake FB?

BTC at $32,000 would do it.

Amazon (AMZN) is worth $527B at $1,094 vanaf share

Microsoft (MSFT) is worth $648B at $84 vanaf share

Google/Alphabet (GOOGL) is worth $718B at $1,042 vanaf share.

Thesis are the tech giants who BTC will contest with for future investment dollars.

Why is Bitcoin surging like this?

Possibly because of the upcoming Segwit2X fork scheduled for mid-November.

Possibly because of China, hyper-inflation, fresh record highs, FOMO, etc..

How much further can it go?

Google Search Rente for ‘Buy Gold’ vs. ‘Buy Bitcoin’

It looks like Bitcoin is about to overtake Gold te terms of Google Search Rente.

The long-term trend for ‘buy gold’ is a slow stable decline. The long-term trend for ‘buy bitcoin’ is up and to the right. When the price of Bitcoin is peaking, so is overall search rente.

This is significant because Google search rente for bitcoin has correlated with the price of bitcoin ter the past.

Traditionally people buy Gold spil a store of value. There is around $7 trillion USD worth of Gold ter the World.

More people are now considering Bitcoin spil a store of value. There is just under $100 billion USD worth of Bitcoin ter the World.

When you think about the qualities that make gold a store of value, bitcoin is far superior te many regards.

The times are switching. This is a David vs. Goliath story te the making.

‘buy bitcoin’ HAS overtaken ‘buy gold’ te search rente.

And Google predicts more upside.

Google search rente for ‘buy bitcoin’ vs ‘buy gold’ on Nov Three, 2018

The Safest Bitcoin Wallets te 2018

Ter less than eight years, Bitcoin has managed to cementlaag its position spil a global currency. Its rising popularity and enhancing adoption are due to the features and benefits associated with its decentralized system.

More importantly, the fresh digital currency is increasingly being seen spil a legitimate form of investment and store of value.В This is partly due to its legal acceptance across some major jurisdictions around the world like Japan.

Bitcoin, spil a digital currency, is subject to many cybersecurity threats. It is essential to understand that the bitcoin network by itself isn’t vulnerable to cyber-attacks, but rather the method of storing bitcoins can be inadequate and result ter security breaches.

Te this article, wij will talk about different types of bitcoin wallets and how to keep your digitized wealth safe and more importantly, off the grid.

Understanding Risk, Security, and Bitcoins

Take specie for example. Specie can be stored te a canap spil well spil te a wallet. Contant stored ter our handelsbank accounts is entirely safe. Even ter the case of a bankgebouw robbery, wij know that our money would be entirely safe.

At the same time, metselspecie can be enormously vulnerable to theft if it’s ter our pocket or stashed inwards our homes. The same goes for cryptocurrencies or bitcoin. If the prize is worth the risk, it will naturally, attract unscrupulous people who will devise fresh and ingenious ways to steal our money.

The Digitization of Money

What wasgoed originally a question of, “if bitcoin could substitute dollar” has undisputedly turned into a matter of when rather than if. It is becoming increasingly overduidelijk that all forms of currencies will exist te digital form. Therefore, it is now time wij commence using more secure types of digital wallets that are not accessible overheen the internet and thus, less likely to be subject to cyber theft. Such wallets are known spil cold-storage wallets.

Just like everyone else, I too wasgoed a skeptic when I very first heard about bitcoins a few years back. However, after using cryptocurrencies, I have no doubt spil to the fate of physical currency. And spil a crypto-user, I had to invest time and research into various cyber-security measures to keep my money safe. Hence, the information I will provide te this article is based on my private practice and skill regarding some of the safest bitcoin wallets that are presently available.

Trezor, Ledger Nano S, KeepKey and Bitbox are four of the most widely used hardware bitcoin wallets ter 2018. Thesis four wallets suggest the most secure way to store bitcoins and other cryptocurrencies. And, their use has become ubiquitous among experienced bitcoin users such spil vendors, investors, miners, traders, etc.

Before wij look at the specifics associated with each of the wallets, let’s shortly discuss what bitcoin wallets are.

What is a Bitcoin Wallet?

A bitcoin wallet is a digital verkeersopstopping that contains a unique key-address. Thesis private-keys are strings of long randomly generated characters that represent money held inwards the wallet. It is a form of unique identifier, which permits us to use our money by recording transaction ter the blockchain or the collective ledger.

The private-key permits us to access a number of bitcoins associated with the private-key recorded on the collective ledger. This is why our private-key addresses voorwaarde be protected at all times. You can see how the ledger works ter the illustration below.

Even however the blockchain is absolutely impregnable, our private wallets, however, can be hacked if hackers get access to our private-key addresses. This is why it is significant to keep our key-addresses ter a separate hardware wallet that simply cannot be hacked due to its inability to directly connect to the internet. It’s the same spil keeping our card-card information safe and away from prying eyes.

What Makes an Outer Bitcoin Wallet Secure

An outward bitcoin wallet is the only way to secure bitcoins from the threat of hacking. A hacker can only infiltrate a pc if it is connected to the internet. If our private keys are held te a physical bitcoin wallet, there is simply no way to access it without physically cracking te and stealing the hardware wallet and even that won’t be enough spil there are safeguards installed te thesis hardware wallets to toonbank the threat of physical theft.

To use bitcoins stored te a hardware wallet, wij would have to connect it to a laptop and then access it. Te the case that a hacker is fortunate enough to get access to our pc at the precies same time spil our hardware wallet is connected to it, the hacker would still be incapable to steal the bitcoins.

The reason being, there is a two-way authentication method that requires the user to physically press a transaction button on the hardware wallet. The dual layer of protection makes it practically unlikely for a hardware wallet to be remotely hacked. Some wallets even offerande the option to create a password to access the device, which would require the user to use a password after connecting the wallet to a pc.

Lastly, if the hardware wallet is lost or stolen, the holder of the wallet can simply deactivate the device remotely and retrieve the bitcoins with a click of a button. Thus, it is pretty much unlikely to for hackers to steal bitcoins from a hardware wallet.

What Are The Most Widely Used Bitcoin Wallets

Bitcoin users have a number of options when it comes to bitcoin wallets. The most secure form of bitcoin wallets are known spil outward cold-storage wallets. The term, cold, is used to refer a wallet’s inability to directly connect to the internet.

The other type of cold wallet is the paper wallet, which is essentially a lump of paper with the private keys printed on them. The problem with a paper wallet is that it is just spil safe spil a credit-card. If someone gets their arms on a paper wallet they can access all of the bitcoins stored within it.

Trezor Bitcoin Wallet – The Bitcoin Safe

Trezor Bitcoin Safe, by Satoshi Labs, is a very secure and trusted bitcoin wallet, which provides a degree of security that simply cannot be replicated using a laptop. It is an offline transaction signing device that uses a petite screen to visually depict transactional information.

The device has bot subject to a security breach ter the past. However, latest improvements have made the device virtually impregnable. After previous issues came to light, the Trezor’s development team expanded the device’s internal cryptographic encryption to voorkant every single opzicht of the device.

Ter the event that the device is stolen or lost, it still wouldn’t be possible to hack into. And the possessor of the device would be able to restore the wallet’s gegevens onto another bitcoin wallet through its remote-restore feature.

Moreover, if your computer’s security is already breached, your device would still be secured while connected to the rekentuig. This is possible due to another security feature that involves the generation of a random speld number for every single use, thus, making it unlikely to hack into.

Trezor Bitcoin Wallet supports a number of widely used cryptocurrencies such spil bitcoin, litecoin, DASH, Zcash Bcash, Ethereum and ERC-20, making it an excellent choice for users of numerous cryptocurrencies. However, the wallet lacks some of the more advanced operational features that expert-use might request.

Ledger Nano S Cryptocurrency Bitcoin Hardware Wallet

Te addition to being considered spil one of the most secure hardware wallets for bitcoin, ethereum and other altcoins, it also offers a very interactive and popular user interface. All transactions made with the device are displayed on its display screen and it requires physical verification for each and every transaction. There are two buttons available on the petite device, which permits its users to navigate through the user interface.

Users of Ledger Nano S are required to create a speld code using the device itself. It is significant to note that the device does not need to be connected to a laptop ter order to set-up. Users have to inject the speld code te order to access the device, creating an extra layer of security. However, that is not all. The device also has a secret phrase question and asks its users to come in a specific word from the phrase for further authentication.

Spil mentioned earlier, the wallet offers one of the most advanced and easy-to-use user interface. The seamless user practice permits for an unparalleled electronic banking practice using cryptocurrencies. Users can also use laptop based software to inject transactional information and connect the device only when the transaction has to be made. Spil of writing of this article, there is no smartphone app for the device. However, it is only a matter of time before one will be made available.

The only drawback wij could find about Ledger Nano S involves the user interface for ethereum management. But even that is soon to switch with one of the upcoming software updates.

Bitcoin2040 recommends the Ledger Nano S wallet to secure your Bitcoin

KeepKey: The Plain Cryptocurrency Hardware Wallet

KeepKey bitcoin wallet is also one of the most widely used hardware wallets. It offers a number of unique security features that makes it a leading competitor ter the cryptocurrency security solutions strijdperk. KeepKey is an amazingly secure device that utilizes an encryption speld code through its touchscreen. It creates a fresh randomized speld code for every example of use. Meaning, the speld generator is paired with a hardware wallet that requires a fresh randomly generated speld code to access the wallet.

The device offers a recovery mechanism ter case that the device is lost or stolen. It permits the user to create a 12-word recovery sequence during the initial set-up. If the device is lost, the proprietor of the device simply has to come in the recovery sequence on a fresh device and all of the bitcoins would be recovered without any real risk to the access keys.

Bitbox Bitcoin Wallet Device

Bitbox is a latest addition to the range of hardware wallet that is commercially available to cryptocurrency users. Since it is a fresh entrant into the market, it is also the cheapest option available to users.

The device offers Tor and Tails OS compatibility for the users looking to maintain anonymity along with security. At the same time it also offers compatibility with the two most widely used operating systems, iOS and Android, meaning, even the casual users can use it without worrying about a learning curve.

Since the device is rather fresh, it is difficult for mij to personally go into too many details spil I have yet to use the device myself. But if wij are to look at the terugkoppeling some of its users have given, there is no doubt that it is an utterly ordinary but very secure device that will appeal to most of the fresh bitcoin users. However, since the device doesn’t opoffering compatibility for numerous cryptocurrencies, it might not be a valid option for altcoin users. Hence, it is an exclusively bitcoin-only hardware wallet. Ethereum is the only non-bitcoin cryptocurrency that can be used with the Bitbox.

The Bitbox also has an edge when it comes to the use of micro-SD card, which acts the backup for the wallet. Te the case that the wallet is lost or stolen, the bitcoins can be restored using the backup micro-SD card.

The Final Verdict

For the vast majority of cryptocurrency users, Trezor Bitcoin Wallet and the Ledger Nano S are considered spil the most secure hardware bitcoin wallets. Spil a cryptocurrency user myself, I value nothing more than the security of my gegevens ter general and the security of my crypto-based wealth ter particular.

Spil Bitcoin and other cryptocurrencies grow spil a major form of global currency and financial asset, it makes sense that virtual and cyber security is taken serious and proactive measures are taken to safeguard our gegevens, spil well spil our wealth.

Despite the proliferation of security-related products and services, there are still a large number of security breaches that unduly tarnish the reputation of cryptocurrencies. The reason I am inclined to say unduly is due to the fact that, most of the cases involving security breaches are primarily due to poor and inadequate security measures on the part of users and not because of some technical flaw te the cryptocurrency. This is, particularly, why hardware wallets are of such importance, spil it even provides security and safety against the most basic human error such spil misplacing a wallet.

If you liked this article on bitcoin wallets and found it informative, please consider signing up to my weekly newsletter. It will help you stay up-to-date on everything related to bitcoin and ultimately ensure the safety of your cryptocurrencies.

What is The Meaning of Bitcoin?

One of the most common questions wij attempt to reaction is “What is Bitcoin?”В There isn’t a clear definition and if you ask Ten people you might get Ten different answers.В It’s like asking someone “What is the Internet?”.

This question will have different meaning for different people.

Wij have collected the Ten top quotes which attempt to response the question

What is the Meaning of Bitcoin?

  1. Bitcoin is a network, not a coin.
  2. Bitcoin is payment system and a currency.
  3. Bitcoin is an Internet-wide distributed ledger.
  4. Bitcoin is an proef te the separation of money and state.
  5. Bitcoin is totally decentralized with no server or central authority.
  6. Bitcoin is a protocol, not a currency. Currency is just the very first application.
  7. Bitcoin is a fresh electronic metselspecie system that’s fully peer-to-peer, with no trusted third party.
  8. Bitcoin is digital money used for secure and instant transfer of value anywhere ter the world.
  9. Bitcoin’s distributed asset ledger is the most significant Pc Science invention of the century.
  10. Bitcoin permits the free market of ideas being flooded with innovation without the need to ask for permission

Welcome to Bitcoin 2040

Hi. I’m Lucas and ter 2014 I discovered bitcoin and became obsessed with the technology.

Since then, I’ve worked to become one of those objective, independent, and strong voices.

So far I’ve published three websites, several research reports, and have made several loosely available educational movies explaining the technology.

I’m sultry about this technology and the ways it can be used to give choice to the choiceless, voice to the voiceless, and power to the powerless.

If you’re here, you’ve most likely seen some of my work already and you realize how much time, money, and effort goes into producing original content with an independent perspective.

What you might not know is that almost all of the content I produce is both free and open-source, and will remain so forever.

It’s available under creative commons licenses, anyone can read and share the content for free. More importantly, anyone can re-use, mashup, translate, re-invent and even commercialize this work.

I use creative commons licensing because I believe ter the commons, the community.

I believe this technology can be a good equalizer and that people all around the world can become empowered by learning about this technology – wij can switch our own communities and build fresh organizations that can benefit us all.

If you share this vision, and can afford to support it, then please do so.

– have learned about bitcoin and open blockchains from my talks or articles

– have sent my work to a friend, colleague, or “naysayer” to train them about this tech

– are tired of the corporate zakagenda driven talks that seem to predominate the industry

– value free educational resources for yourself and the community

– appreciate my work and want to see more of it

Your support, at any level, helps mij to proceed doing this significant work.

Related movie: Mining From Huis: How To Find Fresh Coins And The Most Profitable Coins To Mine

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