Topic: Forget about exchanger search! Use BestChange! - page 30. (Read 13529 times)

 Again, miners sell more BTC than they mine

After the halving of the block reward, miners have to sell more coins than they can earn, according to a report by Arcane Research. The company uses the Miner’s Rolling Inventory (MRI) metric, which tracks the number of coins generated and moved by miners. If the figure is above 100%, then they sell more BTC than they mine. In March, the MRI reached 105%, then began to decline and fell below 100% on the verge of halving. Immediately after the event, the indicator began to grow and now has again reached the level of 105%. According to Arcane Research analysts, this indicates a change in the mood of miners after halving.

 Commission fees at ETH have surpassed BTC

Ethereum network activity continues to grow: last Saturday, daily transaction fees exceeded Bitcoin levels. According to Glassnode, for the ETH network, the figure was $498 thousand against $ 308 thousand for BTC. Analysts attribute this to the growing demand for transfers in Ethereum. In addition, recently the capitalization of stablecoins has been growing, the bulk of which operates on the ETH blockchain. Earlier, the founder of Mythos Capital, Ryan Sean Adams, noted that there is a direct correlation between commission fees and the price of Ethereum. If the trend continues, then we can expect a growth of cryptocurrency price.

 What altcoins will surge in price along with Bitcoin?

Simon Dedik, co-founder of the Blockfyre analytical portal, shared his opinion. He noted that in 2017, during the rally of Bitcoin price, almost all altcoins went up in price. In the next cycle, this situation will not happen again, and only the most important altcoins for the crypto industry will surge in price. These, according to the analyst, include Ethereum, Litecoin and XRP. Not all representatives of the crypto sphere adhere to this opinion. So, TV presenter Max Kaiser said that altcoins can not compete with the first cryptocurrency in the future. A similar position was expressed by the CEO of Morgan Creek Digital Anthony Pompliano: in his opinion, all altcoins will become useless and disappear from the market.

As a part of our awareness-spreading campaign, we are updating the topics that this incident was mentioned in in to restore our own and BestChange's reputation, especially given that they were not involved with any of the transactions.

BestChange team was acting according to their Terms of use and in a professional manner. Their actions were in their best interest, and we are looking forward to working with them, now that this case is resolved.

Done that, thank you for your suggestion.


We are working on it and the OP will be updated soon.

OP need to be updated since it's quite not appealing for seeing those outdated words, It needs beautification so that the owner could get a best result in terms of promotion since they can lure more people if they post a good presentation with informative information regarding the service/website.

And I think Bestexchange are into it since for sure they want to maximize their advertisement on this forum.

I think it will be better if you edit OP and include it into OP. For visitors, they mostly visit OP at first. I don't say visitors always have good idea to contribute but sometimes there are very knowledgeable and experienced visitors, and they can contribute good things.

Originally posted in our Signature campaign topic, we decided to share it here, with some edits, to reach out to all of the users of our service.

Survey: https://docs.google.com/forms/d/1Fv2GiE_c7dLjml-LLs6PHUV_LnG5wwuYq2HLbpnZFkQ

This is all weird, I don't know how the electricity system works in China, but in my country we have the prepaid electricity system. So why in China, being a country with huge financial and human resources, does it not implement an electricity system that has greater control so that there are no cases like these? or another option would be for the electricity companies to implement the pre-paid electricity system for the mining companies, so that each mining company would buy electricity and recharge it with an amount they thought was sufficient and if it did not recharge it would have no electricity.

Another point is the question of the legality of mining companies in China, I wonder at least the local government takes into account jobs and supervise if employees paid by mining owners are fair or not and the employees of the miners are in good condition of work or not?


some analysts try to relate certain things to explain the price increase, in the case of this increase I believe that two things are causing this price increase:

1 - With Halving and the fact that the pandemic did not make the price drop much and the countries are returning to "normal" life, renewed the confidence of investors and whales (the manipulators of the price)

2 - Some people are using the manifestation that have in the USA to promote bitcoin and others are taking advantage of the situation to buy bitcoin and with that the price is rising

 Chinese authorities to close 64 mining farms

After the meeting of Yunnan province officials, it was ordered to shut down 57 illegally operating mining farms that were disguising themselves as Big Data companies. Another 7 facilities under construction must cease working. The region’s authorities noted the benefits of mining companies that take away excess electricity, but pointed out that many of them come into direct agreements with hydroelectric power plants and evade taxes. Earlier, the local power grid company demanded to stop the illegal energy consumption by miners who connect to the stations bypassing the authorities. It is reported that some farms have already put up their equipment for sale.

 Bitcoin steadily rises in price in May

The principle of traditional markets “sell in May and go away” does not apply to bitcoin, according to analysts at Messari. Last month, BTC added 9%, slightly higher than the 2020 average of 8.5%. At the same time, in 2019, cryptocurrency in May rose by 54% with an average return of less than 8% per month. And in just 10 years, Bitcoin showed a positive trend in May 8 out of 10 times, while in 6 cases it was higher than the monthly average. Among classical traders, there is an opinion that in the summer there is no significant growth in the market, so it makes no sense to open long positions until the fall.

 JPMorgan: Bitcoin is trading 25% below the real value

Although the investment bank JPMorgan does not work with cryptocurrency, the company's specialists occasionally provide analytics on it. According to the bank’s report of May 22, bitcoin today is trading “25% below what the intrinsic price would be after the halving.” The intrinsic value is calculated on the basis of the average cost of mining one coin. Thus, BTC should be trading near the $11,500 mark, which is about $2,400 higher than the current figures. According to JPMorgan, "eventually bitcoin will catch up."

 Miners push the market

Miners turned into sellers, exerting pressure on the market, says analyst CryptoKea. Over the past seven days, they have sold 955 coins over what they mined. “We reached Bitcoin miner capitulation territory,” the analyst concluded. At the same time, the BTC hashrate fell to its lowest level in 2020. Even during Black Thursday, when the rate of the first cryptocurrency fell to $3,800, the computing power of the network was 94 TH/s. Now it has fallen to 90.30 TH/s. Miners switch off outdated devices, but they are forced to sell bitcoins to pay for current expenses, CryptoKea notes.

 The number of “hodlers” increases to the levels of 2016

The number of coins that have not been moving for more than a year has reached 60%, according to cryptanalyst Philipp Swift. This indicates a significant increase in the number of "hodlers" - investors who prefer to hold coins for a long time. The last time this was observed in 2016, it was several months before the bull rally, Swift notes. The analyst used the data of his own HODL Wave indicator, which estimates how long the coins did not move from one address to another. Currently, the indicator value is at levels close to the historical maximum.

If they well implement a blockfolio feature in the app or anything similar to this maybe it can help their traders to manage their portfolio but if the outcome will still the same to the exchange who already released, then maybe we can see a same result. But maybe bestexchange should take that as consideration since it could help the platform the became more appealing since I think no one yet do that if I'm not wrong with this.

This is one altcoin I hate so much with passion and I never dream of ever using, Holding or trading it, I would rather trade in EOS, ETH or LTC. The dislike obviously stems from the greedy founder Roger Ver who is so busy fight bitcoin instead of looking for ways of improving his coin.
Whatever happens to Bitcoin Cash price and it's network, I could personally care less  


I also have a feeling that something is about to go down for Ethereum, it's been a very long time since we had it trading above $400. Maybe we could see at least $500 after the upgrade.

I doubt that bestchange will allow trade within the mobile app. I guess the app will function in the same way of how the website run, so it doesn't require a user registration or even a direct access to the exchange chosen as most of them don't have a mobile app yet. I can tell that the mobile app will help a lot for managing personal portofolio and easy make comparison between different rates.
I am really curious about the bestchange mobile app. Hope it will be released sooner.

 Bitcoin Cash is at risk of an attack of 51%

The Bitcoin Cash network lost 30% of hashrate after bitcoin halving - this makes it vulnerable to 51% attack, according to Yassin Elmanjra, analyst at ARK Invest.

“Bitcoin Cash is not looking healthy:

-Hashrate down 30% since halving (& only accounts for ~2% of SHA256 hash)
-Economic throughput at all time lows
-Fees are .05% of miner rev (<$100/day)
-Theoretical 51% attack costs <$10k/hr, ” Yassin tweeted.

He added that he was surprised why the capture of 51% of the cryptocurrency capacities has not yet been implemented. According to the crypto51 service, the cost of such an attack is $8,800 per hour.

 Investors accumulate Ethereum

On May 24, two records were updated in the ETH network: the number of addresses containing 100 or more coins reached 47,740, and the number of wallets with one or more ETH exceeded 1,042 million. Glassnode service drew attention to these statistics. Earlier, the Grayscale fund, having bought almost half of all coins mined in 2020,  reported the growth in popularity of investments in Ethereum. The clients of the fund are institutional investors who invest in securities tied to cryptocurrency. According to analysts, market participants expect a strengthening of the coin value after the launch of the Ethereum 2.0 network, scheduled for the third quarter of this year.

 Canaan miner manufacturer reports loss

Hard times have come for mining equipment manufacturers. The Chinese company Canaan said it suffered $5.6 million losses in Q1. Revenue for this period amounted to $9.4 million - for comparison, in Q4of 2019, the indicator reached $66.5 million. The company's expenses in the first quarter of 2020 exceeded $15 million, which is associated with a two-fold reduction in equipment prices. “The overall market situation since December last year until January had not been too good. So the unit price per TH/s was indeed lower,” said Nangeng  Zhang, CEO of the company. According to the F2Pool mining calculator, Canaan devices are significantly inferior in efficiency to the equipment of Bitmain and MicroBT.

I used to trade on web browser but I think it's good option to have this since there are so many smart phone user around the globe and it will be more convenient for the users if the site will have an available app for them to trade.

Looking forward for building it since I'm sure this will be a good move for best exchange if this app will release.

This would be awesome if it was released. I Personally love using mobile apps on my mobile device when am on the move even when I am trying to trade on platforms like Binance or Bybit.

Visiting a trading platform/website on a mobile device is a little hectic and one can easily make errors while trying to place orders which is less likely with the app.
Thank you, Best Change for taking note of members' suggestions.

Cheers 

Thank you coupable!

Yes, the website is built with the incentive in mind to allow users to enjoy all the features without the hassle of registration.

As for the mobile app, we are working on it.

Enable all features without any requirement is much better imo. It's great how bestchange provides a good service without bothering users with passwords and secret codes.
There is already a user registration option in the affiliate program. https://www.bestchange.com/partner/register.html

Why there is no mobile app for BestChange?

 Andreessen Horowitz: the cryptocurrency market is growing randomly but steadily

Venture Fund Andreessen Horowitz from Silicon Valley has analyzed the cryptocurrency market and came to the conclusion that it has been showing a “choppy yet consistent growth” since 2010. Experts studied four metrics: the price of bitcoin, activity in social networks, developer activity and startup activity. All four parameters showed positive cumulative annual growth rates. The company noted the importance of the 2017 cycle, which became the reason for the launch of “dozens of interesting projects” from various business areas. “Even though crypto cycles look chaotic, over the long term they’ve generated steady growth of new ideas, code, projects, and startups — the fundamental drivers of software innovation. Technologists and entrepreneurs will continue to push crypto forward in the coming years. We are excited to see what they build,” Andreessen Horowitz concluded.

 Miner hackers attacked supercomputers

Last week, a number of supercomputers from the UK, Germany, Switzerland and Spain were attacked by crypto miners. The University of Edinburgh, Leibniz Computing Center, the Bavarian Academy of Sciences, the Swiss Center for Scientific Computing are among the victims. Experts from Cado Security examined samples of malicious code and concluded that hackers gained access through compromised user data and SSH keys. There is no official evidence that the attacks were carried out by one group of attackers, but Cado Security pointed to similar virus file names and network identifiers.

 Cardano creator: misinformation prevents bitcoin from spreading

Cardano founder and Ethereum co-founder Charles Hoskinson suggested that bitcoin is misunderstood due to the abundance of false information and fears. “I started with Bitcoin and started with something called the Bitcoin education project. The goal there was to try to bring as many people as possible into our ecosystem and to also dispel a lot of the common myths, fear, uncertainty, disinformation, and misnomers and things that have been cropping up. In 2013, there was certainly a lot of them, and unfortunately today there’s even more,” the businessman said. Hoskinson created a 40-minute video in which he explained the essence of the first cryptocurrency and called for similar actions by all industry participants. The reason was the tweet by the writer Joan Rowling, who asked to tell her what Bitcoin is. Having received many answers, including from Ilon Mask and Vitalik Buterin, the author of Harry Potter books has not understood the idea of cryptocurrency and expressed her disappointment.

We are working on it. It takes time 


Actually, for this we have a useful tip:

1. After selecting an exchange direction, click on "Save" button above the list of the exchangers:




2. Voila! The exchange direction is saved under the "Selected directions" in the "Popular list":



Wonderful, isn't it? 

I'm searching for something on your site and I remember this promise. When we can expect a new version of BestChange website?
it is time to adjust to new trends. 
Maybe you can implement user registration and enable some features. For example, each user can make his custom currency list, then we don't need to scroll every time and watching currencies for which we have no interest. I guess it can be easier to get more useful statistics or to follow affiliated action.