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Coin Nation News & Events is a news aggregator as well as an event listing and promotional platform for all things relevant to the cryptocurrency industry.
Announcement: New Accepted Digital Currencies
Coin Nation ATMs Inc. is proud to announce that we have increased our accepted digital currencies from 2 to 4. In the passed we only serviced Bitcoin and Litecoin needs, however, as the market changes so does our need to adapt to the everyday user. Introducing Ethereum and Bitcoin Cash!
According to Wikipedia, “Ethereum is an open-source, public, blockchain based distributed computing platform and OS featuring scripting functionality. Ether aka Ethereum is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed. Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes.”
Furthermore according to Wikipedia, “Bitcoin Cash is a cryptocurrency. In mid-2017 a group of developers not content with the Segregated Witness feature which had recently been added to Bitcoin, implemented a change which forked the Bitcoin code. As a result, the Bitcoin ledger called the blockchain and the cryptocurrency split in two. Bitcoin Cash is redeemable on faster network known as blockchain-2.”
Coin Nation strives to be the most up-to-date platform for relevant digital currencies in an ever changing market. We aim to provide the most simple and convenience user experience possible. If there is a cryptocurrency that you feel we should be providing support for then please feel free to drop us an email at email@example.com
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Interesting Facts You've Probably Never Heard About The Crypto Industry
There are many mysteries surrounding Bitcoin and the cryptocurrency industry. For this reason it is no wonder so many folks are sceptical before using Bitcoin and exercise such caution when purchasing or selling their cryptocurrencies. After doing some research to shed some light on 'What is Bitcoin? How does it work' in our last article by Coin Nation News we came across some very interesting facts and today we are going to share them with the public.
Did you know that the first purchase with Bitcoin was used to buy pizza? That's right on May 22nd 2010 the sale for a large pizza was made from Papa John's. Back in 2010 when Bitcoins were mined they were almost worthless and only cost a few cents each. The cost of the pizza was 10,000 BTC and this was the first officially documents purchase of good using Bitcoin. Today's value at the time of this article for 10,000 BTC is approximately 26,000,000 dollars American.
Another fact almost as strange as the pizza tidbit is that nobody knows the true identity of the creator of Bitcoin! Yes, even today the identity of the creator of Bitcoin, the father of all cryptocurrencies is unknown. The whitepaper for Bitcoin was made public under the name of Satoshi Nakamoto, however, this is just a pseudonym. To make things even more confusing in 2016 a man by he name Craig Wright, n Australian entrepreneur, claimed to be Bitcoin's creator. Much to everyone’s dismay it turned out, later on, that this guy was just another scammer. Nonetheless, Craig Wright was able to establish his own version of Bitcoin called Bitcoin Cash.
Bitcoin's original purpose was to be a decentralized method of exchanging money on a global scale with complete accountability while also providing high levels of anonymity. When making a transaction using Bitcoin your name and identity is not used in any form and only your public address is made available on the blockchain public ledger. Because of this Bitcoin is said to be untraceable, however this is not always the case. The Bitcoin blockchain is a permanent and transparent ledger. Knowing this, if anyone knows your Bitcoin public address, they can see how many Bitcoins you have and what transactions you have made from that public address. With all this in mind, as well as the abilities to cloak your IP through standard methods online it is no wonder people claim Bitcoin is untraceable, but, the truth is that while it can be made very difficult to trace it is far from impossible.
Bitcoin was used as the official payment method of the Silk Road. Not many people know about the Silk Road, but to sum it up; it was website on the deep-dark web specialized in black market sales of illegal contra-ban. After many years the police were able to stop the Silk Road and arrest its creator, Ross Ulbricht, to life in prison. Police called the Silk Road “an online utopia beyond law enforcement's reach.” However, due to the fact that Bitcoin is indeed possible to trace, eventually, law enforcement agencies took down the Silk Road and delivered a tough blow to crime.
The next fact some of you may know but its worth talking about and that is that if you lose your Bitcoin private key, you loose your Bitcoins! According to CoinsUltra; approximately 25% of all Bitcoins have been lost forever. Without the private key, the funds that are lost can never be recovered.
In conclusion there is much mystery surrounding Bitcoin and other cryptocurrencies. If you can think of a fun fact that we missed or you would like to see us do a part 2 to this article please leave us a comment at: firstname.lastname@example.org !
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7 Interesting Facts about Ethereum!
Ethereum (ETH) is regarded as the second most popular cryptocurrency after Bitcoin. While Bitcoin is the pioneering cryptocurrency and blockchain project, Ethereum brought smart contracts into the blockchain. It opened the world of blockchain to numerous applications and possibilities, which is why it is held in such high regard by developers and users all over the world. However, there are some interesting facts which most people don’t know about Ethereum.
Ethereum (ETH) is not simply a cryptocurrency:
Those within the cryptocurrency world would probably know about this, but the general masses might not be privy to this detail about Ethereum. It is not just a cryptocurrency; it is a platform for decentralized apps. Developers can use the Ethereum to host their d-apps on the platform. Ethereum helps developers build on top of its blockchain as it sees the blockchain as the medium to change the world for the better.
Ethereum is favored by Banks:
Quite recently a startup by the name of R3 used the help of 11 banks to troubleshoot a system that worked with a blockchain for trading. These banks included HSBC and Barclays. The test was done by Microsoft on a platform which Ethereum created. While this is a sure shot sign of the trust Ethereum enjoys from banks, its smart contracts played a huge part in gaining this trust.
Solidity is used for smart contracts, d-apps, and creating other cryptocurrencies:
Solidity is Ethereum’s programming language for its smart contracts, but it is also used for creating other cryptocurrencies and in the development of d-apps.
Ethereum forked into Ethereum and Ethereum classic in 2016:
The hard fork in Ethereum happened in 2016 in the wake of the DAO hack. DAO was a company which allowed users to choose which d-apps will get funding on Ethereum platform. People were given DAO tokens as their voting chips in exchange for Ether, the Ethereum token. However, a malicious user called the DAO hacker used a loophole in the system to launder away more than $50 million worth of Ether before the community even realized something had gone wrong. To make it impossible for the hacker to use the stolen funds, the hard fork took place. However, many users stood true to the old version, which is called Ethereum Classic. The Ethereum that you know now is the Ethereum that runs on a different blockchain post the hard fork.
Ethereum is used to host ICOs:
All cryptocurrencies host their own ICOs to generate funds by providing investors tokens of their cryptocurrency. Most of these ICOs are hosted on the Ethereum blockchain since it makes developing apps and hosting ICOs much simpler. More than 77% of all ICOs are hosted on Ethereum blockchain.
There is no cap on Ether available:
While most cryptocurrencies, Bitcoin included, have a cap on the total number of coins available, Ethereum does not fall in this category. The only sort of limitation imposed on Ethereum mining is that only 18 million Ether can be mined every year.
Ether is reaching new heights:
Ethereum (ETH) is quite popular and sees a huge daily trading volume. Its popularity was evident when it reached its all-time high of $1,430 in January this year. (2018)
Ethereum (ETH) is the most popular decentralized app platform in the blockchain universe. While it suffers from its own issues of scalability and using proof of work, it is still way ahead of competitors. With constant efforts to solve its issues and improve the service, Ethereum is set to continue leading the pack of dapp platforms.
The community is really helpful for the developers as they not only vote for the happenings in the blockchain but also provide valuable feedback and help improve the service. While many think that Ethereum is more centralized because it has a team of core developers who control the blockchain, all decisions are made via public consensus. The development team is always open to feedback from other developers, which only helps in improving Ethereum (ETH).
What do you think of Ethereum (ETH)? What could have been added to the list? Please feel free to leave us a comment at email@example.com and tell us what you think!
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Why Do People Get Worked Up Over Bitcoin?
The cryptocurrency’s price is soaring, but the fervor is about more than just an investment opportunity.
The Bitcoin phenomenon isn’t about a bunch of people who all believe the cryptocurrency is a good investment. That’s part of it. But for many, the belief in Bitcoin’s power to transform society runs much deeper: it’s almost an article of faith. Where does this fervor come from? To understand, it’s important to keep in mind that “the blockchain” is not really a thing.
A blockchain is a shared, permanent, encrypted data set, created by a network of computers according to a set of software rules. But there are different ways to set up those rules. The word “blockchain” is like the word “vehicle,” explains Peter Van Valkenburgh, director of research at Coin Center, a blockchain-focused think tank. Saying you are putting something on “the blockchain” is like saying you are going to use “the vehicle” to travel overseas. It makes more sense to talk about “cars, trains, boats, or rocket ships, depending on what it is about the vehicles that we are interested in,” Van Valkenburgh argues.
Bitcoin is one type of vehicle that gets the most attention, and deservedly so. Its blockchain was the first, it’s been running the longest, and its network is the biggest. To many people, Bitcoin’s breakthrough is just as much about social innovation as it is technical. They believe the new model it represents can revolutionize how people share value and do business online. Recommended for You
There’s a good reason for that. Bitcoin has shown that it is possible to use a network of computers, connected via the Internet, to build and maintain a set of valuable shared data—in this case a ledger of account balances that prevents counterfeiting—without the need for a trusted authority. Think about that: from a bunch of anonymous computers that have no reason to trust one another, an ironclad network has emerged that can support a whole currency. Literal money—what could be a more valuable target for hacking or compromise? And yet there it stands, unperturbed amid the chaos of the Internet.
It’s heady stuff. And little wonder, then, that people think the incorruptible math underlying Bitcoin’s blockchain could, if adapted properly, make business processes in a range of industries vastly more efficient.
Still, Bitcoin faces big questions over how it should modify its software to adapt to its growing popularity. Keeping the system running uses vast amounts of energy. And its blockchain, though encrypted, is public, meaning transactions can be traced. Bitcoin’s younger cousin Ethereum generally shares these characteristics. Meanwhile, some industries that stand to benefit most from blockchains—finance and health care, for example—are also highly regulated with respect to data privacy and security. Some say the best course is to pursue different kinds of vehicles, like blockchains that have been modified to require permission to access.
To Bitcoin acolytes, though, that misses the point. Bitcoin’s scaling issues, its energy consumption, and even its privacy challenges can be addressed through research and development, they argue. They say “permissionless” blockchains like Bitcoin and Ethereum, whose networks are open to anyone who wants to use and build on them, can form a new kind of Web in which we won’t have to trust banks, corporations, or governments with our valuable data.
In other words, as author and MIT blockchain researcher Michael Casey argued in a column for CoinDesk last week, open blockchains could “save us from the Internet’s original sin.”
Do you agree with the author? Did you enjoy this article? Please let us know by leaving us a comment at firstname.lastname@example.org !
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Will The G20 Summit Breathe New Life Into Market?
After a lengthy meet; world leaders of finance have chosen not to clamp down on the crypto market during the G20 2018 summit in Argentina. Many economists and cryptocurrency experts are speculating that the G20 summit will breathe new life into cryptocurrency.
During the last communication between Central Bank Governors and World Finance Ministers a pledge was made to continue the monitoring of cryptocurrencies but also to acknowledge their benefits. The group released a statement saying “We acknowledge that technological innovation, including that underlying crypto- assets, has the potential to improve the efficiency and inclusiveness of the financial system and the economy more broadly.”
Nonetheless, this news came with an implication that regulation would still be relevant to protect consumers and investors from issues concerning, “market integrity, money scams, tax evasion, money laundering, and terrorist financing.” Adding that “Bitcoin is an asset but not a currency” with the potential to be taxed in the future.
When regulation takes place it is expected that many cryptocurrencies that have managed to stay consistent during what crypto-experts are calling the 'cypto bubble' will ignite in value. This speculation is based on two key factors. The first factor being that regulation will allow 'big money' to re-enter the crypto market, while the second factor is the generalization that with regulation will come added trust by the average market consumer.
Finance experts warn that while price volatility will likely remain as we hear more from regulators and governments in the coming months, that investors need to be prepared for this as cryptocurrencies are still in the preliminary steps of regulatory framework.
What do you think the G20 Summit in Argentina means for the Crypto Market? Will it be good or bad and how? Please let us know by leaving us a comment at email@example.com !
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Coin Nation News
Why Use A Bitcoin ATM or CryptoKiosk?
Cryptocurrencies such as Bitcoin and Litecoin are becoming household words. However, it is still not easy to obtain cryptocurrency in the first place. Selling it on an exchange for fiat currency is often times even harder than obtaining crypto and presents many dubious situations, such as the possibilities for theft, scam, or worst of all the possibility of a system hack. So with all this in mind; is there an easier solution?
Introducing the CryptoKiosk which is also know by some as the Bitcoin ATM. A CryptoKiosk is built with one major list of purposes in mind, making the process of purchasing and selling cryptocurrencies easier, safer, faster, and more accessible for everyone.
There are currently more than 550 CryptoKiosks installed globally being used daily. We here at Coin Nation News would like to dive deeper into what makes the CryptoKiosk enticing to the public.
is a driving reason why people would turn to a CryptoKiosk instead of an internet exchange. Security and anonymity in how an individual spends their money is the primary consideration in this decision. This is because when using a local ATM or Kiosk in most cases there is no exchange of personal information such as SIN or Banking Info. This also removes the risk of losing your entire balance due to internet theft or hacks. Lastly an ATM or Kiosk is usually tied to a physical store or location and thus drastically decreases the chances that it is a scam of any sort.
associated with that of your average exchange is usually a few points lower than that of the average Kiosk or ATM however this is normal due to the fees associated with keeping the machine up and running. Nonetheless many exchanges have rates higher than your local ATMs or Kiosks. It is important to do your own research before buying or selling your any crypto.
on many of the online exchanges can take a very long time to finish. In some cases more than a month is required for a transaction to finish, however the average time seems to be approximately five days. When using a Kiosk or ATM the processing times can be much quicker with a long transfer looking to be about an hour and the average transaction taking only five minutes. It should be noted that all transfer that take place on the blockchain are recorded and posted on a public ledger so everyone is fully aware when a transaction has processed. Lastly, because 90% of the current CryptoKiosks available require little to no registration process there is sizable amount of time saved in this area as well.
Accessibility & Ease of Action
is the last factor we will be discussing today. The internet can be a daunting place, especially if you are not tech-savvy. The CryptoKiosk/Bitcoin ATM experience is designed to be as user friendly as possible at many of the locations we have visited including when using our own Coin Nation ATMs. Like us, many operators list their Kiosk & ATM locations on their websites and on directories such as Coin ATM Radar. This simplicity creates an overall positive user experience.
Do you believe Bitcoin ATM & CryptoKiosk is the way of the future? Is there something we missed? Please feel free to leave us a comment at firstname.lastname@example.org and tell us what you think!
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Coin Nation News
What is Bitcoin? How does it work?
If you want to know what Bitcoin is, how you can trade it without floundering into technical details; this guide is for you.
Bitcoin has come far in a relatively short time. Today, a skyrocketing number of companies accept bitcoin as a form of payment. Billion dollar businesses such as PayPal and Microsoft do too. Websites promote it, publications such as Bitcoin Magazine publish its news, forums discuss cryptocurrency and trade its coins. It has its application programming interface (API), price index, and exchange rate. On the other hand, people in third world countries may find Bitcoin their most reliable channel yet for sending or receiving funds.
What is Bitcoin in-depth?
At its simplest, Bitcoin is a commodity like gold. You can trade Bitcoin through online exchanges, by check, wiring, cash, and through a Bitcoin ATM. Furthermore, you may insantly trade Bitcoin securely through our user friendly Bitcoin ATM machines.
Cryptocurrency is an internet financial exchange of digital information that allows you to buy or sell goods and services. The transaction gains its security and trust by running on a peer-to-peer computer network that is similar to a torrent file-sharing system.
Bitcoin Transactional properties:
Irreversible: After confirmation, a transaction can‘t be reversed by anyone. Not you, not your bank, not the president of the United States, not Satoshi, not your miner.
Pseudonymous: Neither transactions or accounts are connected to real world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real world identity of users with those addresses.
Fast and global: Transaction is propagated nearly instantly in the network and are confirmed in one to sixty minutes on average. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn‘t matter if I send Bitcoin to my neighbour or to someone on the other side of the world.
Secure: Bitcoin funds are locked in a public key cryptography system. Only the owner of the private key can access and trade their cryptocurrency. Strong cryptography and the magic of big numbers makes it impossible to break this scheme. A Bitcoin address is more secure than Fort Knox.
Permissionless: You don‘t have to ask anybody to use cryptocurrency. It is equally available to everybody that wants to trade it for free through numerous available wallet providers. After you've set up a wallet, you can receive and send Bitcoins or other cryptocurrencies instantly.
Bitcoin works on a vast public ledger, also called a blockchain, where all confirmed transactions are included as so-called ‘blocks.’ As each block enters the system, it is broadcasted to the peer-to-peer computer network of users for validation. In this way, all users are aware of each transaction, which prevents stealing and double-spending, where someone spends the same currency twice. The process is exactly why blockchain users trust the system.
Unlike traditional currencies, which are issued by central banks, Bitcoin has no central monetary authority. Instead it is underpinned by a peer-to-peer computer network made up of its users’ machines, akin to the networks that underpin BitTorrent, a file-sharing system, and Skype, an audio, video and chat service. Bitcoins are mathematically generated as the computers in this network execute difficult number-crunching tasks, a procedure known as Bitcoin “mining”. The mathematics of the Bitcoin system were set up so that it becomes progressively more difficult to “mine” Bitcoins over time, and the total number that can ever be mined is limited to around 21 million. There is therefore no way for a central bank to issue a flood of new Bitcoins and devalue those already in circulation.
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