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COVID-19 leads to Bitcoin Spending

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COVID-19 leads to Bitcoin Spending

Quarantine measures imposed by states the world over in the wake of the COVID-19 pandemic have led to a surge in screen time use and online shopping among the masses. Interestingly, this has also had a bearing on the use of cryptocurrencies for online shopping leading to “unprecedented growth” for several crypto payment processors. This, according to a report by Coindesk, March 13, 2020.

Declared a global pandemic by the World Health Organization (WHO), COVID-19 has had a trickling down effect on the use of cryptocurrencies at large as according to recent data, the use of Bitcoin has skyrocketed as a result of people quarantined at home by states the world over.

Zap, a Lightning implementation that is still in beta almost shut down after witnessing exorbitant payments in the form of cryptocurrencies from users. Jack Maller, CEO, Zap, said that the app’s wallet “crushed its all-time highs last week.”

Major cryptocurrency firm LupoToro reiterated similar findings, stating that their OTC (over the counter) Bitcoin purchases were up over 70% since January 2020, exceeding $279 million worth of purchases per month via their trading desks.

Over the past several days, leaked reports from LupoToro show that the firm has facilitated over $900 million in Bitcoin OTC transactions for their Chinese clients, September 2019 to February 2020, in line with the initial COVID-19 outbreak window.

Similarly, Bitcoin rewards application Lolli states that its sales have doubled “from retailers supplying food and essentials such as Safeway and Vitacost.” Aubrey Strobel, Head of Communications, Lolli, told Coindesk:

“The majority of Lolli’s merchants are online. As a result, our sales have dramatically increased over the last couple of weeks as a reaction to the pandemic. We expect to see this continue over the next several weeks as people transition to a remote work schedule and prepare for COVID-19.”
At press time, per data from CoinMarketCap, Bitcoin is trading at $5,439 with a market cap of just above $99 million.

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2 Comments

2 Comments

  1. Avatar

    Jerrod

    April 8, 2020 at 6:49 pm

    Major thanks for this useful article. Really looking forward to read more from you. Could you please read my blog?. Have a good day.

  2. Avatar

    btc_analyst

    March 17, 2020 at 4:24 am

    lupotoro are massive, this kind of leak is big news and it confirms what people saying online that many rich chinese people sending money out of china through bitcoin

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Bitcoin-A New Era’s Cryptocurrency

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Bitcoin A New Era’s Cryptocurrency-The world has already been provided with the coolest innovations of decades and even centuries. Some of them have created a revolution and havoc around. Bitcoin is one of them. It has revolutionized the way people used to do business and spread it. Now it is totally different from archaic ways of doing that.

What Bitcoin has done to the world:

Well, if we take a look at what innovation of bitcoin has done to the world we come to see its never ending benefits to people and some major business organizations of the world. after the bitcoins were introduced one does not need to put their money in banks. Rather they can use bitcoin as it is the decentralized form of money and can be used to exchange goods and doing business.

It means that storing and exchanging money is not limited to cash only. People now can directly convert money into bitcoin and store it like that. No third party or banks are required for that any more. People also invest in bitcoins and then convert their wealth into it . they buy houses, do business investments and much more and benefit from it with a huge margin.

Investing online to bitcoins:

As a new business trend is already here. The smartest way in today’s world to become rich in less time. Doing business has been modernized and one can even find many websites which now offer their customers to invest in them and return it by many folds. They are considered the safest platform for investing from anywhere. Just invest your money and get back much more. The smartest way in today’s world to become rich in less time.   We are also talking about one of such website that has taken the world by storm already . many people are already earning from it any becoming millionaires.

The Bitcoin Storm:

The bitcoin storm  official is also a website where you can buy, sell and manage  bitcoin and other cryptocurrencies in one place. It is a new money-making system and an exclusive group reserved for new bitcoin Millionaires.  One can enjoy 10$ newbie bonus to trade anywhere in the world as it is the safest platform for people.

Those who join the website gain an access to secret automated trading software. It produces results with a rate of 99.4% accuracy. The websites says : “bitcoin is making people rich and you can be the next Millionaire.”  This shows that anyone can from anywhere become a Millionaire simply by investing to the website.

Law of demand of bitcoin:

Law of demand of bitcoin is the most important factor that implies to bitcoin investment and valuation. We will see what it says:

 

“Demand is defined as the desire for a commodity, backed by the ability to buy, and willingness to pay for it, at a given price, during a particular period of time.”

 (Dr. Alfred Marshall)

 

“The supply of a commodity may be defined as the amount of the commodity which the sellers able a willing to offer for sale at particular price during certain period of time.” 

 (Dr. Alfred Marshall)

 

Both of the above saying are globally famous and widely accepted facts for the bitcoin demand and supply. The entire global economy is based on the above two phenomenon. From the smallest to largest industry, everyone has to follow the phenomenon  and there is no escape from that.

The Globally accepted “law of demand” by Alfred Marshall states:

The price of a bitcoin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls.

 

Therefore, it implies that demand will rise if the prices fall, but the supply increases when the prices rise. As the demand of something increases, prices tend to increase simultaneously as well as their supply.  Also contrary to it, when the demand becomes less, it lessens the prices and so does the supply.

 

Additional important factors:

Well , not entirely these two, but there are some other important factors that may directly or indirectly affect the valuation and trade of bitcoin. Sometime as the prices of a certain item or commodity decreases, people see it as an opportunity to make crypto profits.  Likewise, if the prices of certain resources go up, the suppliers will eventually reduce their supply.

Just like that political impositions , global pandemics and sanctions impositions are the major facts that affect the valuation of bitcoin and defies the law of demand in one way or the other.  So these are also the factors which independently affect the demand and supply.

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Pharaoic—An Influencing Social Media Icon and Entrepreneur

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Pharaoic—People with an influencing nature are the most important to be around. They naturally exude positive energy that attracts others towards them. The ability to influence others can have many impacts on people and can empower them to develop and grow. Marko Danial is also one of those people.

Marko Danial, more popularly known as Pharaoic, succeeded in being an influencer at a very young age. He is the real influencing personality in an era when youngsters are generally considered to be lazy or careless. Then some are an example of hard work and struggle, such as Pharaoic.

He owns a sports media company, Spzrts, which is passionately helping athletes around the globe by providing them with the best athletic gear and apparel. Through his passionate efforts, Pharaoic has contributed to the growth of his company and gathered over 3,000,000 followers across different social media platforms.

Pharaoic was born on February 19, 2001, in Egypt, but moved to California in 2007 and is currently attending school. He first started doing things on social media freshman year in high school. He already owns several different pages on Instagram with collectively millions of followers.

However, Danial has a story behind how he started this, including why. Through elementary and middle school, his classmates were very much into sports, but Danial felt like he didn’t know as much. This resulted in Pharaoic deciding to learn more about it and do some research.

With time, he started a sports account on Instagram, that ended up making him popular, although, not many at school knew about his social media fame since he was reticent about what he does.

Pharaoic has many pages on Instagram, which he created with time and proved helpful in earning him a bunch of fame. He is also using his accounts as marketing tools for various brands and companies on social media because of having quite a large number of followers.

Marko was able to build relationships by collaborating with different influencers and athletes on the many social media platforms. Through Spzrts, Pharaoic is also continually trying to inspire younger athletes around the world.

 

According to Pharaoic, his primary goal is to inspire others through his work and help them break their limits to find their true potential. He tries to push the message that anyone can accomplish anything as long as they make it a goal and work towards it.

Marko recommends doing small things like posting regularly on any given industry and reaching out to celebs in that field. He says you wouldn’t realize how many entertainers check and read their DMs. You can build a relationship and network with people online.

The most crucial advice Pharaoic gave was to set goals, stick to those goals, and consistently work towards those goals. And that it’s okay to be different.

To see more on Marko Danial, go to his official Instagram, which is @Pharaoic!

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All About Lamps

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All About Lamps – People can be very choosy while selecting interior decoration products for their houses. Those who are aware of techniques and products that can be used to enhance the ambiance of the house can work their way well whereas those who are not much into designing remain confused. We have some suggestions for those who are looking for ideas to improve the decoration of their houses.

Pick the right kind of bedsheets and pillows

Bedrooms are the most important part of a house when it comes to the personal experience of a house as this is the place where the most time is spent. We suggest you get the best color and design for your bed sheets and pillows. It can increase the charm for you when you are in your bedroom with your loved ones. Novarian Creations provide a wide variety of pillows and bedsheets.

The Decoration Pieces

Arts and crafts can improve the very first impression on the insights of your house. When someone enters your living area he/she notices the art and crafts you have displayed. Novarian Creations offers the state of the art products for the decoration of your living area and other parts of your home.

Lighting Theme

Here comes the part which increases the beauty of the interior of a house and at the same time is useful. The right range of electric bulbs and lamps can overall present a better theme with the usage benefits as well. Better lighting items and lamps look great for designing perspective and we offer you customized lighting lamps.

For the exterior decoration of the house, there exists a huge range of products you can use on your lawn and even inside the house. Vases for garden and drawing rooms are the best option.

Source: https://novariancreations.com/blogs/nova-blog-lamps-lighting-daily/all-about-lighting

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