The Future Of Bitcoin Depends On Chinese Mining Pools

China has a bitcoin trade that amounts to 90 per cent from the rest of the world while 70 per cent of the mining operations are done in China. There is going to be a key meeting happening within the month since the maximum capacity of the network is almost reached.

Wu Jihan retold the time when he learned about the existence of bitcoins almost 5 years ago. It was in 2011 when the digital currency gained popularity and he felt exhilarated to be a part of the budding community. He admitted that he is a computer nerd and during that time he just graduated from one of the top University in China. Wu decided to learn everything there is regarding the founders of the digital currency as well as the aim of the users to make a change in the financial system of the world through bitcoin. After a year of learning about bitcoins, he was employed in a private firm but decided to leave his job. After his resignation, he set to working on his very own bitcoin startup. As of now, his company is one of the top mining pools in the bitcoin network.

Now the entire bitcoin community together with Wu is worried about the future of the digital currency though it is known to have come a long way since its launching in 2009. The network is now facing the biggest challenge since they are almost near in reaching the maximum capacity data that was preprogrammed to be processed by the network. The solution is to increase the capacity of the system to verify more payments. If not accomplished, the times used during transaction will become larger and will have less impact on the development that bitcoin has overcome for the last five years which resulted to an increase of 4,475 per cent.

The bitcoin mining pools will conduct a conference in order to talk about the methods to be undertaken in order to attempt increasing the capacity of the entire bitcoin network. Though a simple coding will do the trick, there will also be compromises that many are not willing to make.

 

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Lonely Planet Unveils The Top Ten Tourist Destinations In Asia

best-places

Asia has a lot to offer in terms of exotic beaches, delicious cuisine and rich history. For this year, Lonely Planet has released the top must visit places for tourists.

  • Hokkaido, Japan. Hokkaido is located in the most northern part of the main island of Japan. It is known for its skiing volcanoes as well as hot springs. According to Lonely Planet, Hokkaido made a name because of the perfect powder snow it boasts but tourists were also captivated by the charm it hold all throughout the year, whatever the season.
  • Shanghai, China. The biggest city in China boasting a population of 24 million. A Disney resort has been opened this year and the Shanghai Tower, the second tallest in the world, is already completed.
  • Jeonju, South Korea. A city located in South Korea which is famous for its food. UNESCO calls this city “Creative City for Gastronomy”.
  • Con Dao Islands, Vietnam. This is the main attraction in Vietnam nowadays. The connecting flight from Ho Chi Minh City has been improved in order for tourist to enjoy the islands’ seafood and beaches.
  • Hong Kong, China. Hong Kong used to be the under the colony of Britain but now it is a modern city located at the southeastern part of China and famous for its skyline. There is a 50 square kilometers geopark that was designed by UNESCO located in the northeast part of the region.
  • Ipoh, Malaysia. Ipoh is the capital of Perak which is a state of Malaysia. It is a food capital not known to many and boasts a unique hotel called Sekeping Kong Heng.
  • Pemuteran, Indonesia. It is located in the northwestern part of Bali and is known for its beaches. This is not yet packed with tourists and perfect for anyone wanting to relax by the beach.
  • Trang Islands, Thailand. Located in the southern part of Thailand, it is accessible by boats coming from Krabi or Phuket.
  • Meghalaya, India. It is located in the northeastern part of the Indian state. Known for tourists who love to hike, climb and water raft.
  • Taitung, Taiwan. This city is situated in the southeastern part of Taiwan located near the Pacific Ocean.

Tourists planning to take a holiday should book now the perfect accommodation such as resort accommodation in Krabi to avoid the peak season.

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Value Of Bitcoin Decreased By 5 Per Cent

The digital currency bitcoin is now experiencing its second halving event which happens once in every four years. This event is a rule that is hard coded into the rulebook of the digital currency which demands for the rewards earned by miners to be cut in half. These miners are the ones responsible in making the network safe and secure from hackers with the use of their computing capacity. For every 210,000 blocks containing transactions that are processed, the halving takes place.

According to the CEO of the bitcoin company backed by Andreessen Horowitz, Balaji Srinivasa, halving is considered is just like New Year’s Eve for the financial experts fond of predicting the future.

The halving event has already been proven to be a significant part of the mining process and will continue to be in the future. The users of the bitcoin that invest the computing power of their computers as well as electricity in running these computers nonstop are the ones that are given the incentive. The market is already predicting what the halving effect will be but for many of the users they are more concerned with their operation as the current reward of 25 bitcoins will be cut into 12.5 as the halving takes place. The potential profit they could earn is now less than before and it is evident that after the halving not all miners might be able to survive.  A bitcoin mining startup based in Sweden, KnCMiner, has already filed for bankruptcy two months ago.

As the halving takes place, the value of the bitcoin has decreased by 5 per cent. Based on a report by CoinDesk, the bitcoin price of $660 has become $627 instead. A few hours later, the price of the digital currency has recovered a bit and moved up to $640 which makes the drop to 4 per cent only. Since the market is still adjusting from the effect of the halving volatility is expected. At the early months of 2016, the price of bitcoin has already increased by 50 per cent and is expect to rise further due to the reduction of the supply. Those getting started with bitcoins just now might be up for a challenge since the competition is quite steep at the moment.

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New Bridge Connects Lanta Noi And The Island Of Lanta Yai In Krabi

 

Last month, the Department of Rural Highways launched the opening of the new bridge that now links two parts of Krabi province – Koh Lanta Noi and the Koh Lanta Yai. Since the opening, it has officially been open to the use of the public commuters and private vehicles.

The new bridge is referred to by the department as “Siri Lanta”. It will be responsible in making sure that the mainland will now have easy access to all the tourist spots located on the islands. This will also cut the time that are being spent riding the ferries.

The construction of the bridge was worth 450 million in baht. During the opening, the presiding person on the ceremony is Arkhom Termphittaya-Paisit, the transport minister of Thailand.

According to the transport minister, now that the bridge is open for the public, there are a lot of issues that have been resolved considering that the area is having problems when it comes to the number of the ferries that are operating on the islands. The ferries are very limited and the operation time lasts for 16 hours with only a number of ferries going back and forth. The first trip starts at 6 in the morning and the last trip to the islands is 10 in the evening.

Another problem is that the local residents have to fall in line for a long time before they can board the ferry together with their vehicles. The waiting time alone adds a considerable amount to the total time of their travel.

Not to mention the situation during the peak season wherein tourists come pouring and they have to wait further which causes more delay.

The situations cited above are only very minor problems compared to life and death circumstances herein they have to transport a very ill patient to the hospital.

Another concern that has been raised many times is the negative impact on the environment since the ferries are causing water pollution. With the presence of the bridge which is 650 meters longs, tourists will now have an easier access to a family resort in Krabi.

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Effect Of Brexit On Europe’s Ecommerce

The majority of people living in Britain have already decided that they are in favor of Brexit. This means that United Kingdom is no longer a part of the European Union. The entire process of the exit from the EU would be completed within two years after the voting. It might be finalized two years from now but one thing is for sure, there are implications on the ecommerce industry after Brexit has been decided.

There are already effects happening as soon as the result of the voting was announced. In short term, the British currency sunk down to the lowest level it has gotten since 1985 and continues to do so in the coming days. This has an impact when it comes to foreign retailers that are getting order from consumers that are living or residing in the United Kingdom. Products that have been priced based on another currency will be more expensive when sold to British clients.

According to a research conducted by Internet Retailer, almost 50 per cent of the largest online retailers in the US belonging to the top 500 list are shipping their products to the United Kingdom. For the meantime, this industry will not see some negative effect as a result of the Brexit. According to a study conducted by Payvision only last year, British consumers are prone to shopping from across their border with data showing that 54 per cent of British consumers have shopped at least once from a foreign website. Now that the value of pound is lower than it used to be, there will be less spending when it comes to foreign ecommerce sites.

This is good news for European citizens who are planning to buy products coming from Britain and British based companies since the price will be lower so long as the payment is made in another currency.

The effect of Brexit is evident on ecommerce industry thus it is important more than ever to invest in an ecommerce website by employing professionals such as Vimi. This will ensure that the business will continue to thrive despite the challenges presented by the Brexit aftereffect.

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