The Best Bitcoin Wallet needs a Refill!

Have you seen the price lately? In your Bitcoin wallet, the price is the highest it has been in over 3 years. It’s incredible just how much hype the recent price rises have brought to the cryptocurrency economy. We’re likely to see even further price gains, as the growth has been very stable in the past few months. The best bitcoin wallet’s volatility charts have shown a great amount of stability in the growth of the market.

The Best Bitcoin Wallet Volatility Graphs

Looking at the chart below, the volatility is very low despite massive price gains.

Bitcoin Volatility Graphs give us a very stable picture.

Bitcoin Volatility Graphs give us a very stable picture.

Clearly, the price volatility used to be at a very high value of 15 just 3 years ago. Now in December of 2016, the volatility of Bitcoin has been steadily dropping. It’s incredible to see such low amounts of volatility in a cryptocurrency. Bitcoin is truly maturing. In fact, it’s even more stable than the Ruble, which has dropped 50% in recent years. Other currencies like the Euro have experienced similar drops, with 30% in a year relative to the US dollar.

Chinese Invest in Bitcoin

 

It’s well known that the rich Chinese are looking for better places to park their money. Homes in Vancouver, Canada have been bubbling thanks to them. Bitcoin is no exception. Many mainland Chinese are looking to invest in homes for stability in the long term. For the native residents of British Columbia, they fear the new money that’s pouring in. It’s made their real estate prices grow to unprecedented, perhaps dangerous levels. People are treating the homes like a resort home.

When it comes to Bitcoin, price rises are often attributed to the Chinese. Price drops are similar blamed on China. It’s all because the amount of wealth in China is staggering. For a nation that holds over a billion people, this comes as no surprise. The Chinese will look to open bitcoin wallets to hold their BTC in the future. It’s all about the money and growth, as well as stability of investments that entice people to park their money in these currencies. Another reason the Chinese are looking to move their money away from the Yuan and into the best bitcoin wallet is because of government deflating the value of the currency. The government is very interested in devaluing the currency to increase the Chinese economy’s competitiveness in the global market. But, this is having a negative impact on the rich who hate to see themselves lose money every single year.

Big Companies like IBM are looking at Bitcoin and the Blockchain

IBM is investing in Blockchain and bitcoin technology.

IBM is investing in Blockchain and bitcoin technology.

IBM is investing heavily in Bitcoin. The company believes that cryptocurrency can change the way the world interacts with money. Over 91% of banks will implement Bitcoin’s blockchain in 2017. Roughly 80% of banks in the world are already working on projects related to the blockchain. The blockchain creates a transparent system for users, and the competition among banks is huge. Every bank wants to become the biggest bank in the world. Interestingly, more than 90 banks in the world are already involved with IBM. Hopefully, we will see companies take steps in implementing better bitcoin wallets in the future too.

One advantage to Bitcoin for banks is the transparency provided for the client. For example, purchasing a house would normally take weeks. This can cause worry for some buyers, as they don’t understand where their money is going at any point in time. Banks want as much trust as possible. After all, they’re handling other people’s money.

A new All Time High

We fully expect Bitcoin to make a new all time high in price. It’s been so long since the last ATH was made. The price of Bitcoin has ranged all the way from $7000 to $200 for the past 3 years. Now it’s finally back at high levels. Technical analysis traders are betting that a breakout formation has formed, and they’re buying the coin quickly. Billionaires are throwing money at the coin as an insurance policy. Finally, bitcoin wallet users are continuing to grow as the price growth increases buyer interest and population. The market has yet to be saturated! Mainstream media sources will report on Bitcoin as the price continues to grow towards record levels.

Ethereum Wallet EIP150 Hard Fork

With the constant denial of services attacks on Ethereum wallet, the developers have suggested a protocol upgrade. This will be known as the EIP150 Hard Fork, and the developers have already confirmed that it is coming.

For those new to Ethereum, it is a public blockchain-based distributed computing platform, featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute peer-to-peer contracts using a cryptocurrency called ether. 

Better than weekly hotfixes

For the past few weeks, the attacker(s) have been exploiting various issues with the Ethereum client. The developers then consistently respond with a quick hotfix to address the issue, only to have the network go down again hours later due to another attack vector being exploited. This left users very unhappy, since Ethereum nodes would crash every few hours as memory usage piled up on servers. Transactions would take hours or days to complete.



Despite the Ethereum bug bounty, the attackers have persisted. Some have speculated that the attackers may be a miner taking advantage of the situation, while others believe that the attacker acts to harm Ethereum.

Many releases for hotfixes have been released for the past month, including versions from 1.4.12 to 1.4.17 (that’s 5 releases this month just for these attack vectors) without much success in stopping the attacker(s) from slowing down the network. The community is hoping that the planned EIP150 hard forks will serve as a permanent solution to the recent attacks.

EIP150 Hard Fork Strategy

Vitalik Buterin has explained the changes to the Ethereum wallet EIP150 hard fork in this post. It basically involves changing the cost to make calls in smart contracts by 5-20x the previous amount. More intensive IO operations get a bigger boost in gas prices. As a result, the attacker will no longer be able to spam the network by making an enormous amount of opcode calls. It seeks to alleviate the current severity by up to 20x.

Comment from discussion Explaining EIP 150.

A number of people have suggested a market for gas prices rather than setting constants, but it is unlikely we’ll see any development on that end for quite some time. Vitalik suggests that there is much research to be done before anything like this can be implemented. Still, the changes are expected to be highly effective at addressing the current short-term problems Ethereum faces.

No Real Controversy, Expected to go smoothly

Unlike the DAO hard fork, this one is expected to go very smoothly. There is little opposition to it, as only the protocol specifications are being changed – for the better. The previous hard fork was made for very different reasons, after all. While the upcoming Ethereum wallet hard fork highly supported by the Ethereum community, there are a few people who seem to misunderstand the situation. It is no surprise after all, that a hard fork is a heavy term to throw around – especially since the last hard fork controversy is still fresh in our minds.

 

The hard fork for Ethereum wallet is planned for block 2463000 and specification 1c will be deployed, which will be in about half a week. The developers are currently testing the changes.

EduCoin crowdfunds students at eight events across the US!

In just three weeks, our community has crowdfunded and given 177 million EDU to some of the brightest middle, high school, and college students we could find! EDU has traveled from coast to coast in the US, from New York to Texas to California. This has had two major consequences. Student hackers are trying out new ideas to disrupt education with EDU. Second, these future Googlers and startup CEOs are holding onto their EDU with the aim of spending them one day soon –at school!

Here is a summary of the student events where EDU has made an impact. The students at these events not only want EDU, they plan to do something with it!

  1. HackUVA at the University of Virginia [1 million given]
  2. HackRU at Rutgers University [1 million given]
  3. HackNYU at New York University [35 million given]
  4. HackUCI at the University of California Irvine [10 million+][donate now]
  5. HackExeter at Phillips Exeter Academy [10 million+][donate now]
  6. WonderWomenHacks in Long Beach, California [69 million reaching for 100 million][donate now]
  7. HSCTF High School Capture The Flag [10 million+]
  8. SoHacks School’s Out Hacks [10 million+][donate now]

Why EduCoin reminds us of the college email address

EduCoin’s appearance in the digital currency ecosystem reminds us of the dawn of the modern internet, when in 1985, the Information Sciences Institute established the seven original Generic Top Level Domains.

While most of the internet gravitated toward the .com suffix, higher learning institutions, on the other hand, introduced its own distinct domain suffix. For institutions and individuals alike the .edu address morphed into something that was both special and highly coveted.

For decades now, students and alumni have nurtured their distinct university email address. It has been for both practical and professional reasons. The .edu address has functioned as an access ID for mundane services like checking out books at the campus library or getting student discounts, but it has also represented a badge of membership to an academic community.

In 2014, we see history repeating itself with a Bitcoin economy starting at MIT. Students will soon be able to buy retail goods and pay for services with Bitcoin on and off campus. You can make the comparison that this parallels the wide availability of personal communication choices such as Gmail, Twitter, and Instagram.

However, there are many  education specific contexts where EduCoin could become a better analogue, such as paying school fees, collecting alumni donations, or requesting college transcripts. EduCoin’s blockchain can play a dedicated role for these types of education economy transactions.

To make that happen, developers have an initiative to eventually handover all development rights for EduCoin to a consortium of worldwide universities, or an organization like Educause. Just like in 1985, higher education will have its own easily identifiable bitcoin.