How Social Media Influences Cryptocommunity

How does something go from the value of almost nothing to 19 thousand dollars in just 8 years? That’s what Bitcoin did. And there must be something that dictates such prices. Is it the supply and demand? Well, sure, but that is not all of it. Major or even minor events, i. e news and social media play a huge role in crypto rates and that is the topic we’re going to discuss today. So get ready for some historical recollection.

How Cryptocurrency News Can Affect Bitcoin Prices

You all know, that in 2009-2010 BTC cost pretty much nothing. Back in the day only crypto enthusiasts and Asian housewives had Bitcoins, and, oh boy, how much of it they had. Some of them later became insanely rich, but how?  Firstly, it was all about adoption, the actual use for those coins. The first real-world transaction was held on 22 May 2010, when Laszlo Hanyecz bought two pizzas in Jacksonville, Florida, for 10,000 BTC. An amount that would be about 95 million dollars today, a bizarre price for two pizzas! And then it started. Bitcoin news started making changes. Game companies accepting BTC for in-game purchases in 2014, Dell accepting it in the same year, even the Japanese government recognizing crypto being similar to real money. Those are just from the top of the list.

All of that BTC news led to a rise of prices, though, sometimes it could led to a bit of demise. In those same old days, in the year of 2013 the trade could go down as easily as that: Mt. Gox was one of the few places to exchange, and when it went down because of DDoSing all hell let loose. Prices went up and down as fast as the exchanger because of a lot of panic-sellers. The fever, the panic are not the symptoms of today, DDoS preventing mechanisms are strong, and frankly, there are a lot of places to exchange today. But these examples are worthy to remember so that our minds are able to be better in the future.

Good Ethereum News Changing Prices

The price of ETH today is $211. There is 90 million ETH in existence and only 21 million of BTC. By the end of 2021, only half of Ethereum will be mined, for Bitcoin, this percent number is already 86. This is can be news for somebody and it may affect this somebody’s decisions. If this somebody decides that ETH has a brighter future than BTC because of this news, and there are enough of these someones, then ETH may have an opportunity to conquer the world of crypto.

This example is just messing around, but let’s talk more realistic things. The ETH news of major upgrades, cryptocurrency updates, milestones have effect on prices. Bloomberg writing it’s “the hottest platform in the world of cryptocurrencies and blockchains” or “Ethereum is Bitcoin’s top rival” has a lot of effect. Though again, news like about some hacker stealing $50 million worth of ETH result in people asking about its security, thus leading to a decrease of value. But such things happen very rarely, and the security protocols are also developing further and further.

Ethereum 2.0

And now the update is coming. The vision of Vitalik Buterin lives. Old Ethereum has some problems: scalability and modern risk of centralization. Today ETH network can do 15 transactions per second, this is more than Bitcoin can do, but still not nearly enough for smooth user experience. And the implication of proof-of-work protocol led to only 2 pools having control of 50% of the hash rate. The update will solve these problems. Scaling will be much better leading to 1000 transactions per second, and the implementation of proof-of-stake will lead to decreasing in energy resources and much better decentralization.

Fake News

Yep, those exist too. They usually come from some obscure sources, cause rumors, outrages. So you always need to be vigilant, check your sources, don’t click on sleazy ads, and don’t believe in get-rich-fast schemes. But to be just and truthful here: fake news does very rarely affect the market (though, it can happen in rare cases with some altcoins), the main thing to be alert to is scams. So please be vigilant.

To sum up, right now the crypto future is at its crossroads. Prices go up and they can be staying there or drastically drop or, again, go up after the halving. People like Ryan Watkins from Messari saying “ETH 2.0 is a much stronger catalyst than the Bitcoin halving simply because it’s an uncertain and fundamental change” lead to even more confusion. So stay tuned and we’ll see where this goes.

Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.

5 Weird Currencies Vol.2

Crypto world is full of wonders that never stop to amuse us: on the one hand, you can make transactions in cryptocurrency or earn profit from mining, that is incredibly serious. On the other hand, you can glance at the funny side of the community with the list of funny cryptocurrencies that keeps on constantly increasing.

Banano

Do you like bananas? Crypto community has a yammy option for you, a 4th generation fungible cryptocurrency. Yellow and stylish, it has a lot of admirers interested in making and accepting payments in the currency. Want to earn it? You have a black monkey game.
Sounds like a funny choice, doesn’t it? All in all, you can easily enter the crypto jungels with the currency

Cthulhu Offerings

Spooky, scary, and stylish, Cthulhu Offerings was not released for the sake of making money as their founder, McKinney has explained. The currency was released because “Cthulhu deserves a way for people to waste electricity in his name.”

Guncoin

If a gun, then a safe one. This virtual currency has started as way of expressing love for fiirearms. The brand’s target is to provide the firearms industry with a fast and secure way of accepting micro transactions.
The official site itself looks like a western movie. Would you like to feel as a cowboy? Give it a try.

Pandacoin


The whole world is in love with pretty tiny pandas that enrich our ecosystem. These pandas can also enrich your wallet. The founders claim that one can earn 2.5% annual interest, if the computer is online and PandaBank is open.

Garlicoin


Would you fancy a fresh out of the oven garlic? In 2017 a reddit user created a namecoin to conduct fast, transparent, and cheap transactions. The coin is secure, decentralized and can boast 40 second block times. As well as that, it can provide you with some garlic recipes to obsess over.
As you see, the world of cryptocurrency has much peculiar things to pay attention to. Hope, you enjoyed our second issue of the weird currencies review. Here you can read the first one. Do you like articles of this kind? Next week we will definitely please you with the part three. Be sure to comment if you are much into such articles, and we will make more reviews of this kind!

Ravencoin Listed on NOWPayments

Cool news: NOWPayments is happy to start a new partnership. Welcome, Ravencoin! Starting now, you can enjoy this popular currency as a new payout option and conduct secure and prompt transactions worldwide.

Ravencoin started as an experiment built on a Bitcoin fork in 2018, but has turned into a successful cryptocurrency project and represents itself as a completely open source project, that has been designed to efficiently transfer (financial) assets.

What also makes RVN this special? Firstly, its block time takes a minute. Then, the total amount of coins is 21 billion. Besides, it represents a brand-new mining algorithm, KAWPOW focused on decentralized mining. The cryptocurrency is ASIC resistant. With no ICO, it also has no extra coins for developers. So, you see, Ravencoin is a community-oriented and community-driven blockchain to rely on.

Why NOWpayments is the best way to conduct payments in RVN? The currency can be sent and received in a few seconds with no extravagant fees. Also, you can make invoices in RVN, and even exchange your fiat money for this crypto asset securely and promptly.

BTC: Explained

Bitcoin has been the most popular cryptocurrency since its launch and the one with most fans as well as critiques in the crypto world. It is the first cryptocurrency that attracts the crypto enthusiasts and hence, it is also the one that crypto enthusiasts have the most questions about like what is bitcoin’s value, how much is bitcoin, how bitcoin works, current bitcoin price and others. 

Bitcoin again came to limelight after JK Rowling tweeted about it on 15th May 2020: “I don’t understand bitcoin. Please explain it to me.” Her tweet has received 9,981 likes so far and retweeted 3,768 times at the time of writing. As per Google Trends, “JK Rowling Bitcoin” was being searched across the world after JK Rowling’s tweet on Bitcoin.

Many Bitcoin fans and followers started pouring in with tweets explaining bitcoin to JK Rowling after she asked a journalist on Twitter. Elon Musk had also joined the bandwagon of people explaining bitcoin to JK Rowling. Musk stated that Bitcoin has an edge over fiat currencies as it is far more dependable than the government-issued fiat. 

What is Bitcoin?

Bitcoin is an example of digital currency or cryptocurrency. It can be exchanged between users through the medium of the internet. Bitcoin is not controlled by any nation or central government and hence, it cannot be controlled by any means.

Bitcoin is among the most popular of the 5392 cryptocurrencies that are being actively traded now. Google Trends confirms this as search terms like Bitcoin, Bitcoin News, Bitcoin Halving, among others have been one of the most searched cryptocurrency-related terms across the globe. 

How Does Bitcoin Work? 

Bitcoin transactions are secured through a process known as cryptography and it also prevents counterfeiting of bitcoins. It has value relative to various fiat currencies and physical goods. 

Once a user installs a bitcoin wallet onto his device, he will automatically receive his first bitcoin address. The user can now share this address with other users around the world and thus, the user can receive payments in bitcoin as it enables peer-to-peer payment mechanisms. A user can also use bitcoin online to pay for services and products. The bitcoin transactions are verified by other users on the network to legitimize it and this process is undertaken when someone verifies the recorded transaction in the block by solving a mathematical equation tied to the respective transaction. 

Due to the complexity of the mathematical equations, bitcoin miners have to rely on specialized computers to solve these complex mathematical equations. The bitcoin miners are paid in BTC to solve these complex transactions as it requires billions of mathematical calculations per second. 

All bitcoin transactions are stored collectively across the computers of every person engaging in bitcoin transactions. All these transactions are added to the blockchain after verification and all these processes are performed instantaneously. A user can store their bitcoin in a wallet on their personal devices or with a service that stores bitcoin for its customers. 

A single bitcoin can be divided into decimals with Satoshi being the smallest bitcoin unit. One Satoshi is equal to 0.00000001 Bitcoin. The bitcoin has been programmed to allow even further subdivisions in the future if its value appreciates and it is deemed necessary to subdivide it further. 

Current Scenario and Predictions About Bitcoin 

Coronavirus pandemic has pummeled the global economy and driven it towards one of the worst recessions that the world has ever seen. Central banks around the world are printing more and more money to help tackle the gloomy economic growth and boost consumer demand. However, bitcoin is acting in an altogether opposite manner with the bitcoin halving event. 

Bitcoin halving is the most discussed event concerning bitcoin at the moment. Since the last few years, there have been speculations in the crypto world about the probable impact of bitcoin halving on the price.

For people that don’t have the faintest idea about bitcoin halving, it is an event in which the number of new bitcoins created every ten minutes is reduced to half of its original number. Bitcoin halving is pre-programmed to occur every four years.

It is expected that bitcoin halving will have a profound impact on bitcoin’s price. As per Longforecast.com’s bitcoin prediction, its price is expected to reach a min-max of US$8217-US$12804 by the end of this month and its min-max will hover around US$10136-US$13206 by end of this year. 

Why Should You Use NOWPayments To Accept Bitcoin?

You can use NOWPayments to accept payments in cryptocurrency on your website. NOWPayments have brought an API that is easy to integrate and it will allow your website to accept payments in the form of cryptocurrencies with ease. 

You can integrate NOWPayments’ API with a neat widget or native integration and it will offer your website visitors with unmatched user experience while paying for your products and services through cryptocurrencies. 

With NOWPayments, you can accept payment in Bitcoin without much hassle. Overall, NOWPayments offers your website visitors with an option to pay from almost 40 popular cryptocurrencies, which include Bitcoin, Ethereum, Litecoin, along with other stablecoins and alternative coins. 

NOWPayments offers you with features like auto coin conversions, instant withdrawals, 24-hour payment window, regulation compliance, security, stable crypto payment mechanism, simple API, and 24×7 support. Reach out to us and we will help you accept Bitcoin with NOWPayments. 

Future Ahead 

Many finance experts had voiced their opinion in the past that Bitcoin cryptocurrency would collapse and it won’t survive for long. Despite the ups & downs that Bitcoin has seen since its initial days, the coveted cryptocurrency has still maintained its position as a de facto king of all cryptocurrencies. It is now among one of the mainstream cryptocurrencies and holds a semi-permanent position in the finance world. The current market cap of bitcoin is US$$167,772,337,482 and it maintains a comparatively huge lead in terms of market cap over Ethereum, the second-largest cryptocurrency by market cap. Bitcoin is expected to maintain its position as the most dominant cryptocurrency of the world until something truly drastic takes place at a global level to replace Bitcoin’s dominance. 

Follow our blog if you want to read the latest news about bitcoin and other cryptocurrencies.

Bitcoin Pizza Day

May 22 is forever and ever one of the tastiest day for Bitcoin, the date that has become legendary for the whole cryptocurrency community. This year, just a week after the BTC halving, we celebrate the 10th anniversary of the first payment in bitcoin. To join the party, let’s get a delicious slice of history!

The Tasty Fairytale

Once upon a time there lived a king…  Whose name was Laszlo Hanyecz, the owner at least 10,000 BTC. Today this sum is enough to rent a fancy kingdom, but at that time such a huge amount of our favourite digital gold valued as simple $41. This “king” became the famous “Bitcoin Pizza Guy” exactly ten years ago when bought two Papa John’s or Domino’s pizzas for 10,000 BTC from the lucky guy Jeremy Sturdivant. 

A few days before the transaction he made a post on BitcoinTalk that still exists, and you can read the original in the thread:


“ I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day.  I like having leftover pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!

I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that.  I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. If you’re interested please let me know and we can work out a deal.

Thanks, Laszlo”

Jeremy Sturdivant happened to be the person to agree and the whole community still wonders whether he really had the power of foreseeing or was just unbelievably lucky, but if he had held them for a few more years, he would have become times more richer. He got the coins when each of them valued as around $0,006, and sold them when a btc’s price was about $400. In a while bitcoin started to reach its peaks.

As for the Pizza Guy, at first glance his slice didn’t look wise at all: the value of the two pizza was $25 while he spent $41. However, it was he who initially boosted the interest in cryptocurrency and made the revolutionary payment. In 2018 he said: “I’d like to think that what I did helped. But I think if it wasn’t me, somebody else would have come along. And maybe it wouldn’t have been pizza.” And he did it again, celebrating the success off the currency with two more pizzas valued as 0.00649 BTC!

Pizza Party Goes On

Though the 2 pizzas happened to be the revolutionary purchase, it was not the weirdest one. To celebrate the day we’ve prepared for you a short list of awkward and impressive things and services you can get by making payments in bitcoin online. This is the list:

  • Your own personal paradise: 13-acre piece of heavenly land to start mining there. 
  • Mammoth tusks to flex about.
  • Bitcoin plush pillows to make your flat a bit-coin-sier.
  • Goats in Somalia to make funny cryptocurrency memes with.
  • The first Macintosh, but not to mine.
  • Tickets to the Virgin Galactic space expedition to see what coins are popular in space.
  • Celtic cross tarot reading cards to make market predictions.
  • A doge sweatshirt to gift Elon Musk.

Funny, doesn’t it? Of course, the Internet has other impressive options, but we would like to remind you that nowadays you can buy nearly whatever you want in BTC. And NOWPayments is a fit solution, safe and custody-free. Just give it a try and sign up quicker than you finish your slice of pizza!

ZCASH Halving 2020

ZCash halving is one of the most discussed crypto topics: though we already know the ropes of how it happens with bitcoin, this event is still intriguing. So, let’s point out how it works and what to expect.

Halving is a process repeated every few years. Its objective is to complicate the extraction of coins, to reduce the reward for miners and prevent the inflation in cryptosphere. This means of regulation helps to avoid the “death” of the cryptocurrency Even though some altcoins use emission restrictions for this goal, Bitcoin halving is not the only one in the industry.

Last June, Electric Coin Company, which released a resonant and popular payment method, presented a plan for the development of Zcash cryptocurrency. 

The plan turned out to be revolutionary: the developers set out to completely rewrite the protocol of the coin blockchain and update the network of anonymous cryptocurrency. In many ways, this may be due to criticism of the coin: after all, some critics even speak out that technical problems lie at its core. Nevertheless, Zcash remains a convenient and anonymous crypto, breaking the theses of these opponents. 

We all are under strange coronavirus circumstances that leave us in the depth of uncertainty. Though we can’t name the exact date of the next ZCash halving, it is supposed to happen this autumn.

ZEC Halving Outcomes

Now 20% of the commissions of miners goes to the development of the project, but in a year the developers will stop receiving their share from the extraction of digital coins.

Zcash creator Zuko Wilcox invited the community to find a new way to finance the development of the project. Despite the fact that halving can positively affect the rate and capitalization of cryptocurrencies, not all members of the Zcash community were delighted with the innovations.

After voting among the community members in December 2019, it was decided to reduce the block reward to 6.25 ZEC. But when one door closes, another opens. ZCash halving will have its benefits for the newcomers! In principle, halving is destined to increase the cost of a ZCash mining. As the complexity of the network grows, and the reward decreases, the actual cost of mining also increases. This leads to an increase in the market price of each coin, be it ZCash or, for example,BTC.

Bitcoin and Zcash Halving: the Advantage of the Latter

The entire cryptocurrency community is looking forward to the Zcash halving which will be held this year at block 1,046,400.

Unlike bitcoin, Zcash currently has a very interesting position. So, despite the current fall, he has a chance to repeat the explosive growth of Bitcoin of past years. And this is the main difference from the BTC halving 2020.

Why do experts and strategists consider this option?

It’s all about cryptocurrency shortages; scarcity creates value. At the moment, the cost of Zcash is falling below $ 50 for 1 coin. At the same time, by the end of the halving process, growth and renewal of historical highs will have become very likely.

As users already know, both ZEC and Bitcoin are mined. That is why after halving there will be a lack of coins. However, many ZEC owners do not sell them and invest with a planning horizon of 5-10 or more years. In such situation, the price of the ZEC token can go up. 

Zcash Halving 2020: Make a Step or Lose the Chance

Halving is a natural process for any cryptocurrency’s development. Expertly managed, it results in unbelievable benefits. Halving of ZCash, one of the best anonymous crypto tokens, will result in a raise in income. NOWPayments, the easiest and the most secure platform to accept your payments in ZEC. With the help of our service all the tools could be easily and wisely used. Besides, don’t miss the opportunities of the ZCash and enjoy our giveaway on Twitter.

Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.

Cryptocurrency Value: Key Factors

When compared to fiat, cryptocurrency has its key distinguishing features: it is not backed by physical assets or controlled by the government. Besides, coins and tokens are generally limited in supply. But they have something in common: all types of funds are prone to fluctuations, that are especially noticeable for the cryptocurrency market. What are the reasons for such volatility? In this article we will shortly point out the key features that form cryptocurrency value.

Liquidity 

The main factors that influence cryptocurrency prices are their supply and demand. Little demand and much supply decrease the liquidity, but the high demand and the comparatively small amount of assets together lead to the high liquidity of cryptocurrency. In other words, liquidity is the availability of liquid assets for trading it for fiat currency. How is it formed? The key aspect is the trading volume transacted daily. Every transaction is recorded in order books at every service, so they all count, even though different cryptocurrency services use their unique algorithms. If the number of transactions is low overall, the price of cryptocurrencies goes down as well.

Mining issues

Mining difficulty also plays its part. If mining costs are higher than market prices, miners are less interested in selling their assets, and this seriously influences global costs. If miners stop selling coins due to the costs, there is less sell side pressure, and the value of coins increases.

Media Representation

Crypto news can have a significant impact on the price of coins. Positive online hype about such digital assets as BTC, ETH and Lit keeps them among top cryptocurrencies. But, unfortunately, any coin can lose its popularity and get attacked by the crypto community. In most cases it is caused by fake news or hacking that is still the problem that matters with every hack into systems, wallets, and exchanges leading to price crashes.

Halving

What also contributes to the cryptocurrency value? Extra activities, such as halving, play their roles.The idea is that the supply of bitcoin declines, but the demand doesn’t change, so, the price is boosted. With halving, BTC prices fluctuate and change dramatically, and the event feeds the public’s interest with all the Internet hype, speculations, and price predictions.

So, halving, that happens every four years, is one of the most efficient factors that make more people interested in holding and accepting the coin online. Here you can read more about the peculiarities of halving 2020.

External factors

The economic environment is undoubtedly important: when the global recession starts, all the assets are influenced. And even cryptocurrency, that is considered to be the most stress-resistant type of money, has faced the so-called “black swan” dramatically: just check what has happened to BTC this March.

To sum up, liquidity, mining, media, and such events as halving, are the key factors that shape the price of cryptocurrency and make it fluctuating. But is volatility a benefit or a drawback? Whenever one can be scared of instability and insecurity, that is the thing that attracts investors to the industry and enables it to develop this quickly.
Another matter is price prediction: even the detailed understanding of  the market doesn’t guarantee that one can make them right. So, stay tuned and get the information on the needed coins daily and be sure to experience NOWPayments – the most convenient payment processing.

Bitcoin Halving 2020: Peculiarities

Bitcoin Halving 2020 happened yesterday, on the 11th of May, is considered to be one of the most important cryptocurrency event of the year. Everyone is talking that the new era has started and the halving can influence the whole industry. Of course, such things were said before, in 2012 and 2016. But this time hype is even greater, with people constantly googling consequences of BTC halving 2020 and betting the price of the digital asset. So what are the reasons of such a splash? What differs yesterday’s bitcoin halving from the two previous ones, BTC halving 2016 and BTC halving 2012? Let’s point out the major reasons.

Volume

In 2020 the amount of traded BTC is nearly 2,800% higher than it used to be in 2016. Meanwhile, bitcoin prices are 1,240% higher and contemporary spot market trades are nearly 50 times bigger than in 2016.

Users

The number of users inspired by other people’s experience have become bitcoin owners as well. Today there are over 40 million cryptocurrency wallets with people exchanging, trading, paying and accepting payments in bitcoin online all over the world. The key factors that contributed to the growth are: the increasing trust in cryptocurrency, positive reviews and article devoted to this financial field, the vulnerability of the fiat market, and, finally, COVID-19. Besides, people started to regard bitcoin as a reliable form of digital gold to invest in.

Recession 2020

Speaking more about the recession of 2020, we must take into consideration, that it has become the end of all the recession of 2008 resulted in, for that crises was the turning point for global economies and led to huge improvements and development of the cryptocurrency industry. Today, with the last recession, the situation is pretty unclear with people losing their jobs due to the lockdown. According to Reddit users’ posts, many of them, who had never dealt with cryptocurrency before, got interested in exchanging their fiat assets to crypto a month ago, but yesterday pre-halving withdrawals were widely discussed as well.

Predictions

As you see, bitcoin halving 2020 is special. Twitter users are obsessed with the idea that BTC price will reach its new heights this year. Some specialists even claim that, mostly due to the past recession, the price can reach $40.000. But, probably, it is nearly impossible to predict the changes to occur in several months. 

Why not focus on what can happen today? Give yourself a try with our contest on Twitter and earn BTC. What are the rules? Like, repost, tag 3 of your friends and set the price it can reach today in a comment. The first one to be the closest to the truth, will gain. And also, be sure to experience NOWPayments — the easiest way of accepting cryptocurrency payments online.

Bitcoin Halving 2020

Bitcoin Halving 2020, that has already become one of the most discussed cryptocurrency news, happens this month, on the 11th or 12th of May. Nobody can predict the way it will affect bitcoin price, but cryptocurrency owners are highly excited with even more newcomers interested in investing. What’s going on? In this article we will shed the light on the event.

What is Halving?

Though the term “halving” sounds pretty creepy, it is still one of the most anticipated Bitcoin events that happens once in four years. As you’ve already guessed by its name, Bitcoin Halving means that the number of all the generated BTC rewards per block will be divided by 2. In figures, the number of BTC that enter the circulation every 10 minutes will be reduced from 12.5BTC to 6.25BTC.

Why does BTC Halving happen? The thing is that every 4 years, when every 210,000 blocks are mined, Bitcoin miners receive reward for processing transactions. This halves the rate at which new Bitcoin is released into circulation. 

It is a synthetic deflation for, unlike fiat currencies, bitcoin supply cannot be inflated, but its scarcity still needs to be replicated and the Stock-to-Flow ratio must be disturbed. There are just 21,000,000 Bitcoins with 18,361,438 already in circulation. And the situation must be solved. Though their reward decreases, miners are motivated to keep on working due to the possible increase of the BTC price. Otherwise, in case the BTC price has not increased, they are still motivated because the difficulty of mining is reduced.

What turns people this mad about BTC halving? People start debating about the potential bitcoin price because the amount of supply entering the system can shrink, while the demand is to stay the same, increasing the price of this digital asset. The first halving of 2012 increased BTC from $10 to $1,150. The second one of 2016 upped the price nearly to $20,000. Though later it dropped to $3,200, it was still profitable for the pre-halving was just about $650. 

Potential Consequences

This year, after BTC has already faced its tough times and under the influence of COVID-19, people go really nuts about the event: Jameson Lopp, the creator of Satoshi.info, has recently tweeted that “Google searches for “bitcoin halving” have exceeded 300% of the volume seen before the 2016 halving event”. Meanwhile, Pascal Gauthier, the Ledger’s chief executive, stated that “more individuals are investing in bitcoin than ever before”. So, enthusiasts’ previous experiences count.

Some cryptocurrency influencers even set overwhelmingly high expectations. For example, Dan Morehead has said that, “based on the change in the stock-to-flow ratio across each halving, BTC could hit $115,212 in Aug 2021”. Marcus Swanepoel, Luno’s chief executive, thinks that “bitcoin will return to its all-time highs in the next 12 to 18 months.”

COVID-19 has also impacted Bitcoin Halving 2020. According to experts, the latest market crash reduced the risk of a halving price dump for miners prepared earlier, in March, to reduce the presumed profitability, so the BTC mining industry is now in a stronger position.

Speaking about the future of Bitcoin, we should admit that the currency is being critically treated by the world leaders, meanwhile, after the repo crisis, even banks are now interested in holding BTC. But even with the growing recognition, the worst case can become the reality, as independent researcher Hasu says: “The worst case is demand for blockspace does not increase in the dramatic fashion that would be needed. As a result, block rewards would eventually trend toward zero.”To sum up, halving is surely worth all the attention for this event influences all the crypto industry and it is supposed to happen every 4 years until 2140. So let’s stay tuned and wait to see what can happen.

USD to Crypto

With NOWPayments you already know how to accept payments in cryptocurrency online promptly and safely. But do you want to pay in USD and to receive crypto? Now it is real! We have collaborated with Mercuryo to provide you with this cool option: just follow our small guide.

  1. Firstly, you need to sign up at NOWPayments website.
  2. Then, generate your API key and put the outcome wallet at the “Store Settings” section.
  3. The next step is the “Invoices”: create it without setting the currency to pay in.
  4. Now you need to go to the URL of your invoice and choose USD.
  5. Then, you will be addressed to the payment. Follow the instructions, complete the payment operation, and the crypto will be sent to your address set at the “Store Settings”.

Make the most of your experience with NOWPayments! If you need any help, contact @alexxnpv via Telegram or reach us via mail  — [email protected] Also, don’t forget that you can send Invoices to your customers, and be sure to check other great opportunities, such as our recently updated Affiliate Program!