Bitcoin and the Hype

This un-regulated , open sourced  and virtual currency(BTC) has gathered a lot hype. With the estimated worth of $10 Billion, there are plans to install Bitcoin ATMs into the real world. One of the most valuable currency at around $950 per BTC, the concerns over its stability are rising. Without going further, it is essential to know what actually is a Bitcoin. Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. What has made it so popular is the number of advantages that bitoins carry.

  • bitcoins are transferred from person to person, that is no need to use banks as intermediary.

  • As a result, the transaction fees ( like that of Paypal or Banks ) is very minimal.

  • Transferred immediately, free from government rules and open sourced

  • The same currency (BTC) can be used in various countries to buy and sell goods. No need to exchange the currency.

  • Can use Mobile Phones, tablets to transact.

  • Since everything is virtual, BTC cannot be frozen in a bank.

  • Convenience Winking smile

Just like the government make more money by printing more the  mints, BTC are mined just like Gold or Silver. Every BTC comes with a unique mined code. Just like the Gold, the number of bitcoins are finite, 21 Millions.  To keep the bitcoins, you need a digital wallet.  But how would you use your bitcoins  ? To know this, follow these steps :

Lets say you want to purchase a laptop having a price tag of 0.0025 BTC. You will scan the barcode of the seller from the application installed in your phone and 0.0025BTC will be transferred from your account to the seller’s. Unlike the credit or the debit card, BTC successfully omits the Banks.

Germany has became the first country to gave its official stamp of approval and with the increasing number of shops accepting the BTC, the future seems to be very bright.  While those in favor of the BTC say it’s like the internet boom in the 1990s where the adoption was very low, but gradually, the internet became indispensable. This chart shows how BTC which was once 1 USD has now risen to approximately 950USD. Yes, BTC/USD = 950 ( 1 BTC = 950 USD ) . Think of the investors who once invested a little amount and are now millionaires . Perhaps, the first Billionaires  would be the Winklevoss twins ( Facebook Fame) who allegedly hold 1% of the total BTC in circulation.  Not just this, hundreds of companies have emerged based on Bitcoin and dozens of VCs ready to pour money into this currency.

However, with growing concerns of security and risks, the Bitcoin still remains niche. Countries like India have already put the advisory that will slump the growth rate of Bitcoins, the market is closely watching the moves. The Reserve Bank of India’s advisory on Dec. 24 prompted some Indian bitcoin traders to suspend their operations, even as regulators seek clarity on digital currencies and ways to regulate them. The RBI’s worries include taxation, security risks, losses due to the volatility and money laundering. The risks are huge and the security is minimum.

Some say that the Bitcoin is a Bubble that will burst but according to me, it won’t. It can’t fall to zero but gradually  come down. If you have seen the Bitcoin Chart carefully, you will see that the price has fallen generally after rising to its maximum .  There can be many reasons for this fall, but , this means that the more people are selling Bitcoins than buying it and after some time, the prices will settle down just like any other currency with much less volatility.

Another disadvantage comes in the form of regulations in countries like India & China. These affect the prices of the BTC to a great extent. However, as the Bitcoin is still in the developing stage, any news is a good news and helps in making increasing consciousness of Bitcoin among people. The Silk Road news has done the same with the Bitcoin.

But one of the major disadvantage comes from the very essential element that makes it, the open – sourced and algorithm based. What if in near future someone comes with a better algorithm of a digital currency and challenge Bitcoin. The market and the entire industry surrounding Bitcoin will fall .

What to expect from Bitcoin in 2014

We all agree that 2014 will decide the fate of the Bitcoin. Here are some of the predictions about Bitcoin for 2014.

  1. Regulation will help making it more popular.

  2. A large number of start-ups based on Bitcoins

  3. A similar currency will arise like Bitcoin on some different algorithm.

  4. More stability in the prices.

Best HTML5 Mobile Apps UI Frameworks

While the fight is still on whether HTML5 Apps are better or Native Mobile apps , the market is flooded by both and the number of free downloads are expected to grow to 138,809 Millions by 2014 as per the Gartner Report.  Since the growth rate of paid apps is much less than the free apps, there has to be a way to keep the cost of developing apps low.HTML5 Mobile Apps are in the market for quite some time and they have evolved a lot.  There’s no doubt that the HTML5 apps are a cheaper means to develop because of the following reasons :

  • HTML5 Apps are built on WORA concept( Write Once Run Anywhere ), one can develop for iOS, Android, Windows and BBM by writing the same code. ( You can read how to develop HTML5 apps by clicking here )so the cost of development is very low.
  • The cost for  Maintaining and Supporting  HTML5 Mobile Apps is less as there is only a single code base .

So  in this article, we will tell you some of the leading UI Frameworks that will help you to develop  HTML5 mobile apps. Using a framework saves the time of the developer and improves the performance.

One of the oldest UI Frameworks around, this is the most widely used mobile framework. This is light weight, extensively uses jQuery and includes huge number of third party plugins and themes. One of the reason of its popularity is that it’s free and open source (MIT licensed). There are large number of resources available online(Stack Overflow) that can teach how to use and will help in development.

However, personally we feel that this framework isn’t that robust and can’t handle heavy applications. Problems like flickering are rampant and jQueryMobile continues to improve.

Based on the popular MVC architecture, Sencha Touch comes with 50+ built in components . Developers can also created their own components and  it also gives storage, device profile and top-level application  abstractions. Now supporting phonegap, Sencha Touch is giving tough competition to jQueryMobile.

Developers having hands on experience in ExtJS and Backbone.js will not have any problems developing mobile apps in Sencha Touch.

While there aren’t any performance issues like that of jQueryMobile, the fact that it’s not free completely may be a disadvantage.

Telerik’s brain child Kendo UI Mobile has been the buzz word and those who have used it, rate it the best. Based on the MVC Framework like Sencha Touch, there aren’t any major performance issues. Having developed many financial apps in this framework, this will certainly capture the market very soon. The only disadvantage that it has the huge cost which makes it  not so suitable for developers but companies.

This is a part of the large Kendo UI Framework which makes it the best available option for web, mobile and the desktop apps. They have the much talked about “flat” theme of the iOS and otherOS specific themes and functionality.

The much talked about Intel’s framework is fast, optimized for iOS and Android but not reliable. It has MVC framework and it also allows external framework to work along.  There’s no need to depend upon Phonegap for this small and light framework.

However, the documentation available on the website isn’t detailed.  This framework is still in developing stage.