Key Bitcoin Metric Barrels to Highest Level Since December 2017

By CCN: As the bitcoin price bounded to a new 2019 high on Friday, a key market metric quietly surged to its highest level since December 2017 when the bitcoin price peaked at an all-time high just under $20,000.

bitcoin Market Share Explodes to 17-Month High

That metric, “bitcoin Dominance,” measures what percentage of the overall cryptocurrency market cap belongs to bitcoin. According to CoinMarketCap, bitcoin Dominance jumped to 58.4% on Friday as the flagship cryptocurrency smashed through resistance to set a new six-month high at $6,425 on Bitstamp.

bitcoin Dominance surged to its highest level since December 2017. | Source: CoinMarketCap

bitcoin currently boasts a $113.4 billion market cap, compared to a combined $80.8 billion split between the other 2,165 cryptocurrencies tracked by CoinMarketCap. It’s also more than six times larger than its next-closest competitor, Ethereum, which has an $18.4 billion valuation but remains lightyears away from achieving the long-awaited “flippening” that hardly anyone talks about anymore.

The last time bitcoin Dominance was this high, CBOE had just launched the first regulated US cryptocurrency futures contracts, catapulting a parabolic BTC to an all-time high at $19,891. A year-and-a-half later, CBOE is preparing to bid farewell to crypto, though bitcoin futures continue to flourish on crosstown rival CME.

bitcoin’s market share is even more dominant if you go by data from OnChainFX, which disregards the value of “illiquid” tokens, such as the massive XRP stockpile owned by the Ripple company. OnChainFX pegs BTC Dominance at 62.92%.

What Does Rising BTC Dominance Mean for Crypto Market?

So what does all this mean for bitcoin, aside from the fact that it is trouncing the horde of altcoins grappling for its throne? That much remains unclear.

Before the historic cryptocurrency bubble in 2017, bitcoin Dominance regularly held above 80%. By January 2018, it had careened as low as 33%, thanks in part to the initial coin offering (ICO) boom, which has since gone bust.

BTC controlled 80% of the total cryptocurrency market cap until mid-2017. | Source: CoinMarketCap

Though still a highly-risky asset itself, bitcoin is the cryptocurrency market’s conservative play. That’s one reason it weathered crypto winter better than its average altcoin competitor, and it also explains why altcoins tend to steal market share when low-information cryptocurrency investors dive headlong into bullish euphoria.

That’s precisely what occurred in January 2018, as Johnny-come-latelies who bought BTC in November 2017 found themselves sitting on a fortune just one month later, fancied themselves the second coming of Warren Buffett, and FOMO-bought ripple all the way up to $3.84.

bitcoin Price Surge Hasn’t Catalyzed Return of Crypto Hype Bubble

So will crypto investors take their profits and use them to speculate on riskier altcoins, as they have done in the past? Conventional wisdom suggests that will happen at some point, though Google Trends data indicates that the hype-driven investors most susceptible to this trend still haven’t returned to the crypto marketplace.

The bitcoin price has surged around 70% in 2019, but Google search data indicates that hype-driven investors haven’t returned to the crypto marketplace. | Source: Google Trends

On the other hand, I’d love to believe that the cryptocurrency industry’s longest-ever bear market had caused investors to sober up to the reality that Dentacoin – which is still worth a ridiculous $12 million – probably isn’t ever going to disrupt the global dental industry.

But I wouldn’t bet any bitcoin on it.

Published at Fri, 10 May 2019 19:30:31 +0000

March 28, 2017

10 VPN Services Providers That Accept Bitcoin

Bitcoinist has compiled a list of ten VPN providers that will gladly offer you their services for your bitcoin.

Why VPN?

One of the primary reasons for purchasing a VPN service is to keep your online activity private. It is ironic, then, that some still choose to buy their VPN service via a payment method tantamount to a suitcase filled with marked bills and a transponder — which, if you’ve ever seen No Country for Old Men, you’ll know is a very bad idea.

The most commonly used online payment methods, PayPal and credit cards, are among the easiest to trace, funneling out buyer information to tax entities, third-party processors, and enormous — as well as enormously connected — financial institutions. As if this weren’t bad enough, PayPal and credit cards also charge steep transaction fees that drain revenues from VPN providers, making them dependent on income that can, at the whim of the banks and legislation, vanish without a trace — unlike the information they will keep on you.

Looking for privacy along the entire transaction many consumers now opt for anonymous payment methods like bitcoin to purchase VPN services. With bitcoin, as long as you employ the full range of the system’s features — like secure wallets and aliases — your transactions will not identify you.

Also, since bitcoin is a decentralized payment method, no corporation, government, or financial institution can shut it down. Lastly, bitcoin is fast, cheap, and safe: Its transactions wait on no clearing times, its transaction fees are often far lower than those of a standard credit card, and it provides excellent fraud protection.

Because of this, several prominent VPN providers now accept bitcoin payments (while some no longer accept credit card payments at all). Since the differences between these providers can be a bit nuanced, however, a third-party VPN site can help you in figuring out which VPN is the best fit for you.

Top 10 bitcoin-Friendly VPN Services

TorGuard

With more than 1250 servers in over 42 countries, TorGuard ranks highly among the elite VPN providers. It even works in countries where VPN protocols are government-filtered, such as Iran, China, Syria, and the UAE. However, there is no trial software and some consider the website a little confusing to navigate.

Private Internet Access

This VPN service is known for its minimalist efficiency. Ad-blocking, one-click activation, and fast performance are among its highlights, though a few users find its spare design off-putting.

IPVanish VPN

Solid speeds, a straightforward interface, and automatic IP address cycling are a few perks of IPVanish. It is spendier than some other VPNs, however, and though its interface is user-friendly, visually it leaves something to be desired.

Express VPN

Netflix, BitTorrent, and P2P are all accessible with the highly versatile Express VPN. Though international downloads are fast, in general this VPN tends to be on the slower side. Also, like IPVanish, it is expensive.

VPNArea

Registered in Bulgaria, hosted in Switzerland, and operating in 54 countries (including Saudi Arabia, South Africa, and Russia), VPNArea provides unlimited bandwidth and a kill switch system. VPNArea has been accused, however, of poor customer service and slow speeds in the more out-of-the-way countries.

Air VPN

No logs, port forwarding, and a stable connection make Air VPN a favorite among those wishing to protect their anonymity. Among its cons: It does not offer an abundance of server locations, and using the service can sometimes necessitate an advanced knowledge of VPN configuration.

IronSocket

This service is direct and easy to understand, and its users love the ability to download customized open VPN settings. Even so, some reviewers have cited its lack of special features (like a kill switch and DNS leak protection) as deal breakers.

Anonine

This VPN boasts IP shuffling, no restrictions, and a no-logging policy. Even so, its customer service has left a few users feeling less than satisfied.

SaferVPN

With a dedicated Chrome extension for added security, SaferVPN delivers a reliable performance and welcoming interface. On the downside, it does keep logs and requires additional payment to get more connections.

ShadeYou

ShadeYou is simple to use, allows five simultaneous connections, and its Dutch registration source guarantees maximum privacy by law. Some users have criticized small defects in its webpage, though, as well as occasionally slow speeds.

These are 10 good VPN providers that accept bitcoin, there are probably more as there are dozens of VPN companies out there, but these will all do the job for you. If you want to dive into the details of each we do recommend visiting a third party comparison site for real in-depth analysis.

Have you paid for VPN services in bitcoin? Share your experience below!

Images courtesy of Shutterstock, ExpressVPN

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