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Will there ever be more than 21 million bitcoins?

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Will there ever be more than 21 million bitcoins

Will there ever be more than 21 million bitcoins?

Bitcoin has come a long way since its inception in 2009. However, what has remained constant is its strict limit, set by its supposed creator, Satoshi Nakamoto, whose real identity remains a mystery. Nakamoto set the upper limit at 21 million in the source code, which means that no more Bitcoins can be mined or put into circulation above that number.

However, Nakamoto did not give any explanation as to why the 21 million limits were chosen, but many see it as a huge advantage for the oldest cryptocurrency in the world. They say that the limited supply keeps the cryptocurrency in short supply and will keep its price stable for years to come.

How many of them have been extracted so far?

So far some 18.78 million Bitcoins have been mined, which means that 83 percent of all the Bitcoin that will come into existence has already been put into circulation. This leaves a little over 2 million Bitcoins to be mined. The market capitalization of all Bitcoins in circulation today is roughly $ 866 billion (roughly Rs. 64,35,270 crore). The price of Bitcoin in India stood at Rs. 36.02 lakhs at 6 pm IST on August 17.

By when will all the Bitcoins be mined?

In just a decade from now, almost 97 percent of Bitcoins are likely to have been mined. But the remaining 3 percent will come into existence over the next century and the final Bitcoin is said to be mined around 2140, more than a century later. The reason behind this slow mining is a process called halving. On average, Bitcoins are currently introduced at a fixed rate of one block every ten minutes. But halving reduces the number of Bitcoins released by 50 percent every four years.

How does this strict limit benefit Bitcoin?

It is simple economics. The rarer a product is, the higher its value, although subject to its demand. Given that there could only be 21 million Bitcoins, investors believe, the price of the virtual currency is sure to rise as more people want to buy it as they learn of its “store of value” promise. This limited supply and growing demand have raised the value of Bitcoin.

In comparison, the “fiat” currency provided by governments around the world has no strict limits. Governments are free to print as many dollars or rupees as they need, but generally do not print beyond a limit, as doing so will result in high and unsustainable inflation.

How has Bitcoin evolved over the years?

Economists are still studying the impact the hard cap has had, but on the face of it, the price of Bitcoin has risen enormously since it was launched more than a decade ago. In 2009, mining a block produced 50 Bitcoins (but the value was less at the time). A year later, a person exchanged 10,000 Bitcoins for two pizzas.

In 2012, four years after the cryptocurrency was launched, the first ‘halving’ occurred. After this, each block started to produce only 25 Bitcoins. It made the virtual currency take on a lot of value, bringing one Bitcoin to $ 200 (roughly Rs. 14,860) at the end of 2013. The second halving further reduced that number to 12.5 Bitcoins in 2016 and another half four years later. In 2020, each block mined yielded 6.25 Bitcoins.

Last year, a Bitcoin was valued at around $ 10,000 (roughly Rs. 7.43 lakhs) and has since gone up four times. As Bitcoin became ‘more difficult to mine, the coins gained in value.

Can the hard limit be changed?

In theory, it is possible. That would require the majority of Bitcoin participants to agree to accept a lower value for their holdings. So, thinking rationally, this is an unrealistic assumption that most people would agree to lose money on their cryptocurrency investment.

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Apple announces iPhone 13 with improved camera and processor

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Apple announces iPhone 13 with improved camera and processor

Apple announces iPhone 13 with improved camera and processor.

Apple Inc. unveiled a new iPhone 13 at a wide-ranging product event Tuesday, seeking to entice consumers with improvements to the camera and processor rather than major design changes.

The new models, iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max, were presented at a media event called California Streaming. They look similar to the iPhone 12, but include a smaller screen cutout at the top of the screen, faster chips, and improved camera systems.

Apple is counting on the new phone and a host of other improved devices, including bigger watches and faster iPads, to fuel growth this holiday season. This year, Apple also has the benefit of a 5G upgrade cycle that helps spur consumers to get new phones. The iPhone, the company’s flagship product, accounts for about half of the tech giant’s revenue.

The new models include the A15 Bionic processor, which Apple claims is 50% faster than competing smartphone chips, and new features to enhance artificial intelligence tasks.

Meanwhile, the iPhone 13 and iPhone 13 mini cameras capture enhanced images in low light and at night and can better handle wide-angle shots, Apple said during the event.

The company showed off other new camera features, including Cinematic mode, which is essentially Portrait mode, but for video. The feature sharpens foreground subjects but blurs backgrounds.

It’s a technique often used in the movie industry, and Apple’s presentation featured “The Hurt Locker” director Kathryn Bigelow praising the new features.

On the iPhone 13 Pro and Pro Max, Apple is adding a feature called Macro Photography that enables sharper close-up photos. And there will be an option called Photo Styles that can enhance the colors and tones in photos automatically, using artificial intelligence.

Pro models will be able to take ProRes video, a much higher quality format.

The iPhone 13 mini will cost $ 699 and the iPhone 13 will be priced at $ 799. The iPhone 13 Pro has a starting price of $ 999, while the 13 Pro Max costs $ 1,099 and up.

Screen sizes remain 5.4 inches, 6.1 inches, and 6.7 inches for the mini, standard, and Pro Max models, respectively. But the screens on the iPhone 13 Pro and Pro Max are 20% brighter.

Also, it include ProMotion, a dynamic refresh rate system. That allows for higher frame rates, smoother scrolling and improved games, Apple said.

Apple is also doubling entry-level storage capacity to 128 gigabytes and adding a new configuration of 512 gigabytes.

The new models also include new custom antennas for 5G, a faster wireless network that operators are still building. Apple said it expects more than 200 carriers and 60 countries and regions to support 5G by the end of the year. Apple first added 5G to the iPhone last year with the iPhone 12.

The new phones also have more robust batteries, with 1.5 hours of additional charge in the iPhone 13 mini and 2.5 hours more of battery life in the iPhone 13. There is also a new 1 terabyte option for the Pro models.

Customers can begin ordering the new iPhones on September 17, and they should hit stores on September 24.

The iPhone 13 Pro and iPhone 13 Pro Max come in a new Sierra Blue color, which is lighter than last year’s Pacific Blue.

The new phones will run iOS 15, an update launching this month with improvements to the home screen widgets, new features in the Maps and Messages apps, updated privacy controls, and improvements to the web browser, FaceTime, the Wallet app. and health monitoring.

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HMD Global sold 21 million Nokia phones in the third quarter of 2017

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HMD Global sold 21 million Nokia phones in the third quarter

Nokia’s return to the smartphone market has been a fairy tale in the making.

The battered and abused stalwart is forced to submit by the Apple and Samsung of the world. He then tries to go back and fight the big boys.

How has HMD Global’s new Nokia performed? According to the latest IDC report, not bad. However, this is a remarkable story.

According to IDC’s third-quarter 2017 report, HMD Global saw a 50 percent increase in smartphone shipments.

It is a notable contrast to the average annual growth of other smartphone vendors on the market.

Xiaomi is the only smartphone provider that has seen an increase of more than 50% year-over-year.

Surprisingly, Nokia ranks eighth on the top 10 smartphone makers list, just above LG and Lenovo.

Although the IDC report does not show Nokia’s year-on-year growth, nokiamob.net calculated the number of phones Nokia sold from HMD Global using a graph from the report.

Additionally, they estimate that Nokia sold 20.8 million feature phones and smartphones in the third quarter of 2017, with a tolerance of 0.05.

We know that Nokia sold 12.4 million phones (feature phones + smartphones) in the second quarter of 2017 and 12.1 million phones in the first quarter of 2017.

HMD Global and Microsoft sold 35 million feature phones worldwide, representing 8.9 percent of the entire market.

It is not clear how many of the 21,000,000 phones sold in the third quarter of 2017 were smartphones. Rumors suggest that Nokia sold nearly 3.4 million smartphones during the third quarter of 2017.

Apple is a distant second, while Samsung leads the charge.

Samsung is the market leader of other vendors with a 22% market share. Apple has a 12 percent market share, while Xiaomi is approaching 100 percent year-on-year growth.

Chinese suppliers from China dominated the market in India and China during the third quarter of 2017.

However, Oppo, Vivo, and Xiaomi have overtaken Apple and Samsung. While Samsung is the dominant brand in India, Chinese brands are challenging local brands like Micromax.

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Top 6 Reasons to Donate your Car to a Charity: How to donate your car?

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Top 6 Reasons to Donate your Car to a Charity

Are you looking for some good reasons to donate your car to a charity? If yes, then this article is absolutely perfect for you. Donating a car to a charity was a common tax strategy before 2004.

Therefore, people accepted tax deductions worth thousands of dollars. Congress stopped this with the American Job Creation Act of 2004. 

This Act limits the deduction taken for donated cars, trucks, boats, or planes worth more than $ 500. 

Besides, the Act did not allow taxpayers to deduct the value published fair market of the vehicle. 

Instead, it required that the amount earned should be for Charity. It was documented with a donor charity receipt.

Generally, at auctions and charity auctions, cars typically sell for as low as $ 30 to $ 50. It’s no wonder that donating an old car has suddenly become less popular.

Is it still worth donating a car? If you are an addict, you won’t get much of a tax deduction. On the other hand, if you have a charity car, the donation could be significant.

Top 6 Reasons to Donate your Car to a Charity

1. Supporting should be the best reasons to donate your car to a charity

It may seem obvious, but it is true. Most people donate to charities that support their work. Generally, this is one of the best reasons to donate your car to a charity.

2. Gift a car to the charity should be the best reasons to donate your car to a charity

Many charities can make use of your car as long as they can use it. They can deliver meals to the elderly or take people to the doctor. 

The Salvation Army, Goodwill, and the United Way are some of the best charities donating cars.234 Think of local community colleges or vocational schools. 

Their educational programs use donated cars as a way to train mechanics.

3. Get a healthy tax write-off 

Although the rules are stricter since the 2004 law change, the process is still possible to deduct fair market value. 

Suppose you are giving away a car worth more than $ 500 and sold by a charity. In that case, you will need to get a notice from the charity stating that the transaction was “arm’s length unrelated” and gross proceeds. 

However, the charity will give you written confirmation of the vehicle’s intended use and the plan they will use it. 

Meanwhile, the charity cannot sell or trade the vehicle before the scheduled time. You must obtain an independent appraisal if the vehicle value is more than $ 5,000. 

If the car’s value exceeds $ 500, you will need to file IRS Form 8283 attach the following documents to your return. 

Generally, it is good to attach the Form if the car is worth more than $ 5,000 8283 and the independent appraisal. 5

4. You don’t have to sell the car yourself. 

The most important part is, you don’t need to place any advertisements to sell the car yourself. You won’t even have to deal with phone calls or emails, nor will you have to show the car and negotiate the price.

In such a case, Charity will come forward and discuss donating your car to their charity with you. 

5. Pickup is free

Many charities that accept cars will tow or pick them up at no cost. However, you should know that the charity will subtract this cost from the value of your vehicle. 

It will reduce your tax deduction. If the trailer exceeds a substantial portion of the car’s value, you can still drive it yourself.

6. You can get rid of any car without a title

Some charities will accept a car that you cannot find. Title You can sell it as scrap or parts. You will not be able to recover it as scrap or parts. However, you will still have it in your driveway.

How to donate your car?

It’s easy to donate your car just by contacting a charity to have it picked up. Many larger charities, like Habitat for Humanity and Goodwill, offer dedicated car donation services. 

These include hotlines and websites that allow you to complete donation forms. 

There are even dedicated car donation services, like Charitable Adult Rides & Services. Moreover, they handle all the details and lets you choose the charity you want the proceeds to go to.

You can also sell your car and donate the proceeds to charity if you’re willing to do a little more. 

Sometimes this can be more advantageous to charities than selling the car at auction. Of course, it’s up to you.

Pre-Caution Before Donating A Car

However, I am sharing some steps to help you stay safe while donating your car.

Generally, it is safe to donate your car to charities. But you should still ensure your safety and avoid any liability to your vehicle once you’ve gifted it.

  • Avoid organizations that promise too much.
  • Receive a receipt from your charity
  • Once you’ve finished driving your car, remove your license plates.
  • To transfer your title to your state motor vehicle agency or transportation department, you must submit a transfer form.
Conclusion

Non-monetary donations are a common trigger for IRS audits. After making your generous donation, be sure to document it carefully and keep copies in your IRS tax file for the year. 

Also, familiarize yourself with the IRS publication “A Donor’s Guide to Donating Vehicles.” It will be helpful for your accountant or tax advisor. It will ensure that you are following all the rules.

Also, you want to make sure that the charity you choose is qualified. You can check the list of eligible organizations on this Forbes website.

If the car donation follows the 2004 law, it can be a win-win situation for you and the charity. 

Do not forget that the best donation is the one that can be used directly by the recipient, only then. 

Therefore, with the correct documentation, will you be able to carry a figure along with the blue book value of the car.

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