Bitcoin is probably the hottest topic in the world of finance and investments, especially since its meteoric rise in 2017. The question, however, appears to be whether or not this rise is indicative of true value. More and more people are justifying the investments in these Bitcoin and other cryptocurrencies as they claim they are an effective hedge due to the instability of fiat currencies. While it is true that a fiat money system has its weakness, it is the very reason why investors turn to assets such as gold as it provides a safety net for currency depreciation. Now, while Bitcoin and other cryptocurrencies have been widely successful, especially in recent years, it is very unlikely that they will be able to replace gold as the premier financial investment. Here are some of the reasons why cryptocurrencies will not replace gold.
Gold Will Always Have an Accessible Liquid Market
Gold has always been and likely will always be one of the most liquid assets in existence. You can easily convert it into cash immediately, and national borders do not hold it down. So, no matter where you travel, gold is gold, and you can exchange it for whatever the local currency is. However, when it comes to cryptocurrencies, things are much different. Yes, more and more countries abroad are beginning to accept Bitcoin and company, (Japan, in particular) it is still a long way ahead of mainstream acceptance.
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2009 saw the first development of a cryptocurrency (Bitcoin), and since then the world of digital currency has never looked back. Cryptocurrencies differ from traditional currencies comes in the sense that they have no centralized authority. So, with traditional currencies, there are banks and other financial institutions that handle the recording of transactions. However, cryptocurrency transactions occur directly between the parties. Cryptocurrencies also have their own a digital ledger called the blockchain which records all these transactions. There are currently over 1300 cryptocurrencies available right now, so it can be very difficult determining which ones to invest in. Here are some of the best cryptocurrencies to take a look at:
Bitcoin is the current leader in the world of cryptocurrency. They use a blockchain that currently is strictly for peer-to-peer financial transactions which may change in the future. 2017 was a groundbreaking year for Bitcoin. Its value was at $900 at the start of the year, and it rapidly grew to $6,300 by October. Since then, it has even surpassed the $10,000 mark and is in a healthy direction to continue its growth in 2018.
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Data is taking the world by storm. And in today’s digital world, with the internet and other forms of software dominating the markets, it’s important to know what to look forward to in terms of data science. Here are trends that are heating up:
There are a certain amount of customers in any business that provide the most profits. These customers can be tracked based on their past behaviors and purchases. Then, using advanced algorithms you can predict what they will buy in the future and when. This gives you the foresight to prepare your business in the best way possible based on powerful data.
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Most rugby players universally recognize Saturday as rugby day. It is a great day to showcase your skills and get out on the field to give everything you’ve got. Rugby is very strenuous contact sport that is similar to American football. The games last about eighty minutes and require a solid amount of strength, speed, and endurance while you are on the field. For this reason, it is crucial that give yourself time to get in the right state of mind and prepare your body physically so that you can perform at your best. Not coming into a game prepared can put your team at risk of falling short of a victory and can also put you at risk of possible injury. So, take a look at these tips to prepare for a rugby game.
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2017 was a huge year for Bitcoin. Starting off in January valued at $778, it rose to record highs of more than $12,000 by mid-December. As we look ahead to 2018, there are many developments with the cryptocurrency that are worth paying attention, and not all of them involve it’s rising price. Obviously, Bitcoin’s price is set to increase as the year progresses. Kay Van-Petersen, who is an analyst at Saxo Bank, accurately predicted Bitcoin’s rise in 2017 and currently predicts that it could hit $100,000 this year. However, she also predicts that Ethereum could outperform Bitcoin in 2018. He said, “Ethereum came after Bitcoin, it has a more unified leadership than Bitcoin. They seem to be a bit further along the way in regards to forming the solution to scaling issues. And you can see transactions on their side eclipses transactions across other cryptos.” So, due to Ethereum having a core group of developers who control how the technology grows, experts believe that it will give it longevity and certainty which hasn’t been said the same regarding Bitcoin.
Another development in 2018 for Bitcoin comes in the possibility of mass public awareness for it and cryptocurrency in general.
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At this point, everyone is well aware of Bitcoin. However, it can be tough to distinguish Bitcoin from the blockchain technology which is where Bitcoin transactions take place. So then the question is: what is blockchain technology? It is a term that people throw around when discussing Bitcoin and other cryptocurrencies, but most are unaware of what it actually is. The blockchain is an ingenious invention, created by a person or group of people know by the pseudonym of Satoshi Nakamoto. You can think of it as a new type of internet. Intended initially for Bitcoin, the tech community has found other uses for the technology.
An easy way to understand the blockchain technology is by imagining a spreadsheet duplicated thousands of times across a network of computers. The design of this system is to update the spreadsheet regularly, and that is a basic understanding of the blockchain. Basically, information held on a blockchain lives as a shared and regularly balanced database. It is not stored in a single location, so the records kept are public and easily verifiable. There is no centralized version of the information, so it is secure from hackers. Now if one would define the blockchain, you could say that it is a “technology that offers a way for untrusted parties to reach a consensus on a common digital history. A common digital history is important because digital assets and transactions are in theory easily faked or duplicated. Blockchain technology solves this problem without using a trusted intermediary.
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In the world of data science, Python is becoming widely popular. People are using it in a variety of ways from back-end web servers to even front-end game development, along with everything in between. It has become a real general purpose language and a must-have tool for any programmer’s arsenal. However, besides Python being a multi-use tool, one of the other reasons why it has become so popular is that it is easy to learn. It reads like pseudo-code and is surprisingly agile. Now, while it isn’t the most difficult to learn, picking up any new language in code can be a daunting task, and it is essential to find the right places to learn. Take a look at some of these tips and tricks that can help you with Python.
One of the things that most people enjoy with Python is that you can create your own functions and modules and put them all together in a separate folder. So, you can write down particular codes that you would use in common in a majority of your work and then convert them in a module and keep it to the side in that separate folder.
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