Bitcoin Diamond is another Bitcoin Fork with focus on privacy
If you are thinking that all the ridiculous Bitcoin forks are over, then you need to take a look at this, Bitcoin Diamond, yes Bitcoin Diamond is another fork coming after Bitcoin cash and Bitcoin Gold, investors have already made money with Bitcoin cash and bitcoin gold after their launch, it seems that there is no stopping of Bitcoin and its forks.
Focus on Privacy
Bitcoin has never been the perfect crypto currency, it wasn’t intended to be the one, it’s the first one and some of the flaws are expected, one of the main concerns for the investing community is that their transaction are available publicly, and that’s a big issue for most of them, and if there is something that can help them to have some kind of privacy up to some extend then it would be great for them, now Bitcoin Diamond is giving them privacy up to some extent.
The altcoin will fork once the Bitcoin network hits block height 495,866. By the time you read this article, that network block should have been discovered by miners already. It is the third major airdrop Bitcoin users will receive this year, not counting the B2X coins from the broked SegWit2x launch. It has been a profitable year for BTC holders in many different ways; that much is certain.
What Bitcoin Diamond claims to offer is privacy first and foremost. It seems this fork’s developers have found a way to encrypt the transaction amounts and balances of all BCD users. It sounds somewhat similar to Monero, but it is doubtful the Bitcoin Diamond implementation is even half as competent.
It seems like that Bitcoin Diamond is promising a lot of thing including faster transactions with lower cost due to its 8MB block size limit
Launch Date: 24 November 2017
Number of Coins: 4.2 Billion
Crypto Market cap reached $275 billion
Market cap of crypto currencies reached the level of $275 Billion after a spike on 4rth July 2018, Bitcoin maintaining its dominance at 42% , making it the biggest crypto currency in the world.
Bitcoin price currently trading at around $6700 after a 3% spike in the price , making it jump from $6500 to $6700 within minutes, analysts are predicting that this recent upside movement in crypto market in weak and need to sustain these levels in order to attract more buyers, otherwise overall bearish market is still in control.
$7000 is a key level for Bitcoin
$7000 is very important level for bitcoin according to many technical analysts, If it breaks above $7000 and stays there then chances are that upside move will be healthy, otherwise bear will look forward to take control of the situation again.
Switzerland merging Cryptocurrencies with conventional banking
Switzerland is on the right track to become a Crypto nation and country is making efforts to allow cryptcocurrencies to fully access conventional banking .
Bitcoin and other crypto currencies has taken a big hit in brutal bear market of 2018 but that’s not stopping Switzerland to allow cryptocurrencies to fully access conventional banking system within the country. Switzerland is currently in progress and drafting rules and regulations for such collaborations.
Heinz Tännler, Swiss expert & finance director of Zug canton, told media earlier that politicians were moving to allow crypto companies to work with banks, adding that Switzerland’s central bank, financial supervisor and federal government “are willing to help”.
He said: “We hope to clarify relationships by the end of the year at the latest.
“Time is pressing, other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”
“We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well.”
Blockchain becoming the global phenomenon
The concept of Blockchain is interesting and attractive for all the countries, many countries may disagree on the existence and usage of cryptocurrencies, but all of them agree with the fact concept of blockchain is not going anywhere and governments can benefit from this technology in various fields, but if you ask any expert of blockchain, he would tell you that success of Blockchain technology has to be linked with existence of crypto currencies, without crypto currencies, and ecosystem can’t exist, many governments around the world are slowly recognizing the fact and Switzerland is definitely on the right track if they allow crypto currencies to work in collaboration with the Banks, because many banks around the world are not allowing crypto currencies to offer services through them, but this initiative will open many doors in that regards.
Crypto market stabilizing gradually
Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.
Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.
Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.
Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.
Current top 5 crypto currencies
- Bitcoin : $9388
- Ethereum: $741
- Ripple: $0.83
- Bitcoin Cash: $1630
- EOS: $18.28
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