1 = 906.97 USD

Bitcoin News

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  • Davos Economic Forum Report - The Annual Bitcoin-bashing Recap

    ​​Every January in Switzerland, the world’s leading corporate thinkers arrive to pat themselves on the back for how smart they are at lying to the people and manipulating the market with a total disregard for business ethics. This year’s edition was no exception, and we provide you the latest Bitcoin news from of the World Economic Forum that ends today. 

    The World Economic Forum, since 1971, has engaged the foremost political, business and other leaders of society to shape global, regional and industry agendas. One of the hottest topics in global economics is Bitcoin’s blockchain technology, which has been adopted by many of these in attendance because it is clearly superior to anything they have provided over the course of their careers. To hear them tell it, Bitcoin was an unfortunate side-effect of the technology.

    "To be efficient, the currency has to be a stable store of value. That is something that Bitcoin does not have," Cecilia Skingsley, the deputy governor of the Swedish National Bank explained." We have a strong product to offer from the central bank. If people don't like it, and they don't trust the state, they can use other methods. Use black cats, or cupcakes, that's up to you. We provide the state option, which is safe, efficient and widely distributed, with a stable store of value".

    A central banker will never tell you that the value of their currency over time is designed to lose money every year, in perpetuity, due to inflation and other market factors. Somehow, their fiat currency, that they consistently print into oblivion, is better than an asset class that rose in value 126% last year, 35% the year before, and can be sent in seconds for a dime. Imagine what else they aren’t telling you?

    Another myth is spun by Ant Financial CEO Eric Jing, who said. "The essence of blockchain is not about decentralization, but trust.” A properly made blockchain creates a decentralized network that doesn’t require a central authority to trust, thereby distributing trust in its decentralized network that can’t be corrupted, instead of one authority that can. The fact that these mainstream conpanies are generating value out of blockchain technology without its best capability, the ability to decentralize a network at scale, really just shows how outdated and behind the curve they are at this point.

    "Blockchain distributes trust among a group of people who have to work together, and who don't necessarily trust each other," said David Craig, president of finance and risk at Thomson Reuters. "They have to collectively agree to a standard of how they federate trust. The financial industry hasn't traditionally been good at collaboration, and this offers a way of changing.”

    Blockchain technology will improve various businesses in becoming more efficient in the years to come. However, its mainstream appeal will always date back to an origin of market disruption and monetary improvement, that Bitcoin provided the world.

    If Bitcoin didn’t work, at scale, the mainstream would not have adopted blockchain technology, fintech, or any related creations. The executives at Davos might be able to monetize Bitcoin’s technology, without using its greatest creation, but they cannot co-opt Bitcoin’s value to the future of money.

    Stroking blockchain, while denigrating Bitcoin, reminds me of an old Nike commercial. Spike Lee, playing a character known as Mars Blackmon in a 1989 Michael Jordan Nike commercial, kept saying Jordan could jump so high not because of anything inherently special about Jordan.

    “It’s gotta be the shoes!”

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • BitConnect Connects With Bitcoin Startup Cashaa - Can They Disrupt LocalBitcoins?

    ​​New and innovative services are popping up all the time in the digital currency space and today marks the launch of Cashaa, a new blockchain-based p2p marketplace. Cashaa markets themselves as a new service enabling zero-fee cash transfers. Based out of London by Kumar Gaurav, Cashaa does not charge the cash sender and receiver any fees, Cashaa does not require them to have a bank account or mobile wallet and transactions are conducted at a real-time exchange rate.

    BitConnect sat down with Mr. Guarev to get the details on just how disruptive this new service can be.

    What spurred you to create this service? What is the true genesis of Cashaa?/How did you get started in Bitcoin or digital currency services?

             

    "During my management studies, I traveled and met a lot of interesting people worldwide, and also had to use Western Union. I was wondering why companies would charge so much for something as simple as exchanging money. Losing 10-12% of the money was annoying, and so was the thought that there are people who with honest work make less money than Western Union, which does not create anything itself, but only exploits its customers."

    “In the same time in 2014, I met cryptocurrency traders and got involved in Bitcoin and blockchain. Bringing this together with my experiences, the idea for Cashaa was born. I decided to focus on the cash transfer market, as it is less serviced than bank-to-bank transfers, and people are paying these crazy fees plus exchange rate fees, and technology had not helped in this situation yet. Therefore, I started Cashaa.”

    This sounds a lot like LocalBitcoins.com concept, except the goal is to send money overseas, not with the goal of buying and selling BTC. Is that fair that they are similar in design? Can you perform these trades online, or only in person?

    Unlike LocalBitcoins, we are marketplace matching cash senders with any cryptocurrency traders. It can disrupt LocalBitcoins and cash exchanges at the same time. Now traders can find a trade without the physical presence of their counterpart in the same location. We are opening a global market for the crypto-traders and using the liquidity from cash remittance industry to connect the local bitcoiners in different countries.

    Until now, we have seen that bitcoin or cryptocurrency is being utilized by a very limited section of society with a sole purpose of speculation. But now, with Cashaa, people can send money to their friends and family without any cost without involving in bitcoin and leaving it to the traders who are speculating it on LocalBitcoins or an exchange. Even more, than this, it will help to educate more people outside of the crypto- currency industry by giving them a use case which is touching their day-to-day life.

    Cashaa works as follows: The cash sender sends a request, including how much money they want to have delivered, in which city, and which currency, to whom and in which time. We send a notification to all traders in the sender and the receiver`s city, who then can make their bid to pick up and deliver cash for selling and buying cryptocurrency. Once a match is found, the money sender and receiver are each meeting the individual trader in person, in a public place, in their city. Our current product is for cash in and cashes out.

    “We wanted to serve the most unserved section of the society, which is Western Union customers sending money that are still paying the very high fee. Cashaa is for them, and in future versions, our users will able to send and receive money through bank accounts, credit cards, as many other payment options.”

    So if there are really no fees on trades, how does Cashaa make money?

    “Whereas Cashaa is not charging the cash sender and receiver, we are making money through the traders. Traders through us get an increase in market size and a higher profit margin, compared to their local market. We don't charge any fixed fee like LocalBitcoins or exchanges. Our traders are free to choose their bid and ask price depending on their local market, and we keep anything left between them.”

    I understand this does not support altcoins, currently. Can you explain how that will be implemented in the future?

    The decision to come up with the only bitcoin was due to our test results and market size. In April 2016, for testing purposes, we launched a trading platform called Btc2Bid, which was Bitcoin-only. During testing, we had more than 10,000 traders sign up from 126 countries, who transferred about $2 million USD without us even having to spend anything on marketing.

    Cashaa will first be launched using this network of Bitcoin traders, but we are cryptocurrency/token-agnostic. We are building an internal InterLedger. So, for example, the trader on one side can be a Bitcoin trader, and the trader on the other side can be an altcoin trade. Therefore, we invite traders of any cryptocurrency to join us.

    The year is now 2020. Where is Bitcoin in the world of finance and where is Cashaa in the world of Bitcoin?

    “In 2020, Bitcoin will break all the rumor and negativity made around it and will establish itself into consumer space. Many killer Apps will launch which will help to deliver the advantage of Bitcoin and Blockchain to average consumers. As an asset Bitcoin has proven many times that it rise more sharply when political and economic issues have grown, which I think will bring more institutional investors into the domain to balance their portfolio. “

    Cashaa is one of the service builds on bitcoins and cryptocurrency connect the average and advanced consumers. Cashaa aim will be to develop a decentralized escrow system, exchange and serve as many as countries we can to build a win-win ecosystem for everyone.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • China Exposed - How China Does Not Control Bitcoin As Much As You Think

    ​​This article is as much for my own edification as anyone. I only report what I hear and whatever the Bitcoin market is doing in China is definitely third-hand, at best. The great part about my job is that I can learn about the digital currency I love while sharing this knowledge with the world because knowledge is power. Today, it is time to share some power. China is not the center of Bitcoin’s universe, as I and many of you have been led to believe.

    The stats are readily available only from Coinhills and other sources. About 95% of the world’s fiat exchanges into Bitcoin are from the Chinese Yuan/Renminbi, and about 80% of all the trades are done in China, and the three major Bitcoin exchanges do well over 98% of the volume in global Bitcoin trading. If you know this much, as I did, you only know the what the house of Bitcoin looks like, not how it was built, or how it is financed. Meet Neil Woodfine, who will teach us the rest of the Bitcoin in China story.

     

     

     

     

     

     

    See, Neil is the Cheif Operating Officer of Remitsy and he runs bitcoin meetups in Beijing, China on a regular basis. He has his “boots on the ground” in what has become the most active Bitcoin trading location in the world, and he reports in his blog post that activity in China when it comes to Bitcoin is not what it may seem. It is far more manipulated and far less ubiquitous as you may think, looking from the outside in, just reviewing the data from a chart on a website.

    His take is part one of a three-part series from China, covering Bitcoin’s exchange market as he sees it. So please check out his piece and the links he provides to more information if you want a more complete education on this very influential Bitcoin market. Here I will summarize his first edition. I’ll touch on three key concepts to China’s influence, or lack thereof.

    Firstly, the Chinese exchanges do not charge a transaction fee, which creates many intended and unintended consequences. Woodfine alleges that the sheer competition in this market has forced the companies to do away with any fees, but this ability to trade freely when most exchanges charge 0.2-1% is a false narrative when it comes to volume. Neil explains how this trading changes the market’s dynamics, which he calls "trading spam," or "fake trades," a la “fake news”.

    “(Since there are no transactional fees,) Chinese exchanges generate most of their revenue from CNY withdrawal fees. And these CNY withdrawal fees are tiered based on each trader’s trade volume, encouraging traders to trade as much as possible to lower the cost of withdrawing their profits.”

    So the exchanges seem much more powerful and popular in trade volume than in reality. In other words, many people set up two accounts, trade their one Bitcoin between the two accounts, drive up their trade volume, then withdraw their actual funds at the lowest exchange rate possible. And this is not just the average trader doing this, but the exchanges themselves engage in this fake trading practice, at much higher volumes than you or I could generate. This increased volume and liquidity attracts more buyers to each exchange, so it is effectively gaming the system.

    Woodbine figures that, without hard numbers that would not be disclosed by the exchanges or the traders, that the legitimate trade volume is about half of what is commonly reported, so more like 40-50% of the global trading market. Still the major player, but 90+% is a major over-exaggeration.

    This also doesn’t take into account the OTC (Over The Counter) market that also uses these exchanges from other countries, so it is also certainly not a 90% Chinese investor driven industry, either. There are plenty of savvy investors elsewhere who are using their low-cost system to make far better returns on digital commodity trading than the 7-8% Gold brought last year. When your currency value jumps over 125% in a year, the world will move in on your system, not just one country. Neil further explains:

    “But overplaying China’s trade volume leads to the wrong conclusion that bitcoin’s value is purely derived from its role as a speculative plaything for Chinese investors. It leads people to make the mistake that there is (an) existential risk to bitcoin in the Chinese government’s treatment of bitcoin trading or just Chinese traders’ whimsy.”

    So please use the link above, or look up Neil Woodfine of Twitter, for more details on his findings and future posts on this subject. He seems like a solid resource, being immersed in the Chinese Bitcoin market and being able to convey, in English, what is really going on. Those who do not trade in Bitcoin because they think China and its government have too much control seem to have been misled.

    The digital currency revolution will not be centralized.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Bitcoin Retail Adoption in Japan Jumps Over 450% in 2016

    ​Much like the Internet a generation ago, Bitcoin will only become commonplace and “go viral” if the average mainstream consumer starts to use it on a daily basis. When the average person started a WordPress blog, or upload a YouTube video, that’s when the Internet took off. For Bitcoin, more retail merchants will need to start accepting Bitcoin for it to go to the next level. This is exactly what is happening in Japan, a new study reveals.

    The number of stores that can use Bitcoin on the Internet in the Japanese market has increased more than four and a half times within 2016 alone, Due to this rapid expansion, the survey shows that the number exceeded 4200 stores, as of 26th last month. This is about 460% more than the survey one year ago, and it has spread to various industries such as beauty salon, nail salon, and remodeling company besides eating and drinking establishments.

    As we here at BitConnect have reported last year, one of the major drivers of this mainstream adoption in Japan has been Coincheck, Japan’s largest Bitcoin exchange. They have personally added over 1000 retail merchants to Bitcoin’s business community, as of several months ago.

    "Currently, most bitcoin users buy bitcoin for investment purpose. However, this situation may change if more businesses accepting bitcoin,” said Kagayaki (Kaga) Kawabata, Business Development Lead for coincheck. “Coincheck is also the leading bitcoin payment service in Japan. We have a bitcoin payment service where more than 1,000 merchants are using our payment solution. Recently, DMM.com, an entertainment giant with more than 19 million users in Japan, started to accept bitcoin payment by using coincheck."

    "The Japanese government has been very welcoming to the Bitcoin community, creating and passing laws that allow the use of Bitcoin on par with fiat currencies. Self-policing Bitcoin groups like JADA (Japan Authority of Digital Assets) work with the Japanese government and Japanese Financial Services Agency to establish standards and codes of conduct for bitcoin businesses.”

    Japan’s level of investment out of Yen and into Bitcoin has surpassed the U.S. Dollar and is only exceeded by the Chinese Yuan/Renminbi. Businesses have also been established in Japan that allows users to pay for essential utilities like electricity in Bitcoin as well. Considering the fact that the collapse of Mt. Gox occurred there less than three years ago, this market turnaround is nothing short of remarkable for its speed and breadth.

     

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Coin.mx Bitcoin Exchange Fraud Mastermind Pleads Guilty; Faces Lengthy Prison Sentence

    ​Over Bitcoin’s history, the most destructive and insidious issue that has threatened the community has been bitcoin exchange risk, or outright fraud run through exchanges. Whether it has been Mt. Gox, Cryptsy, or even cloud mining service Hash Ocean, no other issue has affected more Bitcoin’s users or done more damage to Bitcoin’s global reputation. Yesterday, another bitcoin exchange issue has reached a legal resolution with the case of Coin.mx.

    Anthony Murgio, 33, of Tampa, Florida, has pled guilty to several felony charges in relation to the case against the administration of the Coin.mx bitcoin exchange. Murgio was arrested in July 2015 on charges of breaching federal anti-money laundering laws and regulations, as well as on the allegation that he enabled criminal activity by exchanging cash for bitcoins for victims of ransomware attacks.

    This is also just part of his alleged criminal activity. Murgio and criminal cohort, Yuri Lebedev, seemed to have also gained control of the Helping Other People Excel (HOPE) Federal Credit Union. The U.S. Attorney in Manhattan said they channeled funds from Coin.mx through bribery, including bribing Trevon Gross, a pastor and former chairman of the credit union.

    The criminal activity was ramped up in the volume of funds exchanged through the credit union’s services, and this caught the attention of the credit union regulators at the National Credit Union Administration, which then alerted authorities.

    Murgio faces a minimum of 12 1/2 years in prison, according to Reuters, after pleading guilty to three felony counts. These include conspiracy to operate an unlicensed money transmitting business and conspiracy to commit bank fraud as part of a plea agreement.

    “By pleading guilty, Anthony Murgio accepts full responsibility for his conduct,” Murgio’s attorney Brian Klein told Coindesk via email. “Today, he was able to start the process of putting what happened behind him. In connection with his sentencing, we look forward to letting the judge know the many positive things about Anthony.”

    The case is also notable for Murgio’s attempts to have the charges dismissed by arguing that bitcoin was not a currency for the purposes of federal law prohibiting the operation of the unlicensed money transmitting businesses. A U.S. District Court judge ruled against the motion in September, finding that bitcoin qualified as the act describes “funds” versus fiat money, specifically. The judge also said that because bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account, therefore Bitcoins do function as currency.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • BitConnect Coin ICO Completed; Official BCC Exchange Launches in Record Time

    With BitConnect.co’s much-anticipated Initial Coin Offering (ICO) for the official BitConnect Coin (BCC) now completed, BCC heads into the next phase of development. Over 1 million BitConnect coins have already been purchased, with early adopters gaining up to 40% bonuses, as people are gaining over 1000 BCC per BTC.

    Now, BitConnect Coin is ready to establish its own proprietary BCC exchange. We have finished developing our own BCC exchange platform in just ten days, beginning 2017 as quickly as we have ended 2016. We will add more features and crypto-coins to the exchange, along with BCC.

    The Full-node software is openly Distributed with a new Desktop client for mining and staking the BCC with proper guidance. The web wallet already in use for coin holders to conveniently send to BitConnect desktop client and send to their desired trading platform.

    BitConnect Coin uses a special algorithm called the POW/POS to secure the BCC network. The moment you acquire BCC it becomes an interest bearing asset with 120% return per year through PoS minting. All you have to do to earn with this method is to hold coins in your BitConnect-QT wallet.

    With the BitConnect coin, users can expect a new level of empowerment through an open source platform connecting users socially and financially to a secure, protected community of investors and lenders. BCC owners can also connect with your community and increase your wallet when coin price increase exponentially, allowing you to gain interest.

    Later in 2017, the BitConnect Coin will see more innovations and convenience features added such as the BCC Mining and Staking Pool Launch, providing a way for the community to earn. The BCC will also gain its own “Smart Card” in 2017, bringing all of the everyday usability you demand in a digital currency.

    BitConnect has become simply the world’s fastest growing online Bitcoin community, rising from a concept in Q1 of 2016 to a top 80k website on Alexa. For more information on the BitConnect Exchange, go to https://bitconnect.co/register

  • Why I Should Have Seen The Bitcoin Burst Coming and Why It Just Doesn’t Matter

    ​​Bitcoin is one hell of an investment, for anyone in the world to use. You don’t need a brokerage account, or need to reside in Western culture and have a special insider connection to benefit from it. One just needs to get educated in its capabilities and inherent value (That’s right. I said its inherent value!) and you’ll understand. Or maybe you’ll succumb to “human nature,” and just get greedy? It really matters not. Bitcoin remains.

    Late last year, I did predict that Bitcoin would pass $1000 USD last week, and most likely pass $1100 as well. Now is not the time for pats on the back, actually I’m here to admonish myself. I should have made one more prediction of Bitcoin’s eventual market correction. Michael Jordan once said ‘You miss 100% of the shots you do not take.” I missed that one. There are reasons, or excuses, as to why. Here's a couple, off the top of my head.

     

     

     

     

     

     

     

     

     

    The first one that comes to mind is I really didn’t care enough to think that far ahead. I’m not a day trader or a short-term Bitcoin player. I’m in it for life, so the price on a daily basis only matters so much to me. I don’t take it personally when Bitcoin price falls, and I don’t suffer from euphoria when it takes off. I actually want the price to remain low just so I can selfishly buy more. Also, I know that Bitcoin price will not say at $800-900 for more than a couple of months, at the most, so again, it is not a big deal to me that warrants much hand-wringing. Bitcoin has proven to be 'upwardly volatile.’

    Before I start rambling, let me get to why I should have looked a little deeper into Bitcoin history, and used it as my guide, as those who do not learn from history tend to repeat it. Bitcoin price was going to boom and bust anyway, as Bitcoin has plummetted each of the last three Januarys and in 2014 it dropped like a rock in the first week of February. Bitcoin lost about $150 USD in value due to the collapse of Mt. Gox.

    January of 2015 saw the market correction bottom out well south of $200 USD, right about where Bitcoin was valued before the bubble formed, in the fall of 2013. It ended the year trading for more than twice that value. January of 2016 saw the wrath of the Mike ‘Hearnicane’ as Hearn made his departure from the inner workings of Bitcoin a very public matter. Again, Bitcoin ‘beat the street’ by year’s end. And of course we have last week’s events. Why did it happen this time? Some say the market was fearful and jumped into the ‘safe haven’ of Bitcoin as a shelter for some speculated global economic downturn. Perhaps.

    In the end, it’s all speculation to me, and I’d be lying if I said I had a good read on why people are dumping ANY investment that was the world’s best-performing currency for two years in a row. Seems pretty stupid to me, but what do I know. I just knew when to get in, and I know enough not to get out, regardless of external market forces.

    And when BTC is trading at $1500, $1800, or even $2000 later this year, there will be a lot of ‘Nervous Nellies’ who will be suffering from ‘Seller’s Remorse’ for abandoning ship, for reasons I do not know, or care to understand. Bitcoin is not for those with weak stomachs. Only the strong survive in the digital ecosystem.

    I guess all I can really say about this dip in the market is ‘Thanks!’ Just more BTC for me. In my mind, I win either way. Hopefully, you may also adopt an equally positive and abundant attitude towards “The Future of Money.” Maybe you can see how it clearly beats the alternative?

    Why don’t we make this easy? This December, expect a ‘bull run,’ and a year from now expect another bust cycle. Sorry to spoil the surprise, for those of you who missed the last three of entry-level Bitcoin market analysis. If you are a Bitcoin day trader, this may come in handy. For myself, not so much.

    What is see the point in casting shade in Bitcoin’s direction? Just because of a drop in the price, for not much of a good reason? Did Bitcoin do something wrong here?

    Selling this investment, after it’s performance over the last three years, says much more about the seller than it does the digital currency, don’t you think?

    This reminds of an old favorite movie of mine from 1980 called Meatballs. Bill Murray can explain my feelings better than I can on this issue. Bill, take it away….

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • BitConnect Interviews Director of “Banking on Bitcoin;” See Exclusive Movie Clip

    With all of the recent exciting news about Bitcoin price and value over the holidays and New Year, we almost forgot that Bitcoin is getting a new feature film released this week called “Banking on Bitcoin.” It would appear that by sheer luck the timing of this new release couldn’t be any better, as Bitcoin is approaching a new all-time high in market value.

    With a documentary feel and a cast that reads like the who’s-who of Bitcoin, we sat down with the director, Christopher Cannucciari, and discussed the genesis of this film about the world of decentralized digital currency.

    Who was the driving force behind the film?

    “The film began in late 2013 and for as much media coverage surrounding the rising price of Bitcoin, there was very little about how Bitcoin could interact with current financial institutions and national currencies. There were many who were looking into this and I wanted to give them a bigger voice. In those days it was easy to get caught up in the excitement of Bitcoin’s grand experiment, but we really had no idea if it would change money forever or die on the vine. Now we are seeing Cryptocurrency not only changing money but contracts, networks and so much more.”

    “Along the way, we noticed that government organizations were becoming increasingly interested in Bitcoin and it was clear that Cryptocurrency would leave the hypothetical disruptive phase and truly begin to test the boundaries of what sovereign governments would allow. In some ways, the attempts at Bitcoin regulation have been negative, especially for new players. Despite this the fact that it has garnered so much attention from those in business and office, that Bitcoin has gained a certain permanence after weathering these and many other storms.”

    What was the reason, the vision behind this film being made?

    “I wanted to offer not only a snapshot of Bitcoin’s arrival to the public at large but preserve the history of this time through the eyes of those who were involved in taking Bitcoin from the computer to the public. People like Erik Voorhees, The Winklevoss Twins, and Nick Spanos were crucial for getting Bitcoin in front of people who would have otherwise been fearful of it.”

    “I also wanted to follow through with the eventual response from the Government and the banks which Bitcoin had been invented to disrupt. The predictable regulatory response seemed enviable after the systematic demonization of Bitcoin through the Silk Road and BitInstant prosecutions, but what unexpected for us was from the banks. Rather than fight the technology meant to make them obsolete, the banks began to co-opt Bitcoin for their own ends.”

    What is expected to come from this film? What is the end goal?

    “There were two goals essential to making this film; firstly to document and preserve what I felt was the most crucial time period in Cryptocurrency, growth from enthusiasts and programmers to the wider public. Of course, this includes the big three Bitcoin press stories, Mt. Gox, Silk Road and the Satoshi Nakamoto hunt, but we wanted to use those moments to help a new audience look deeper at why Bitcoin has gained so much attention and how these events both hurt and helped Bitcoin’s growth.

    “The second goal was to help start the conversation about how disruptive we want our new technologies. Should we fight for more or less regulation of new powerful tools like Bitcoin? Should we call out the double standards of traditional banking versus banking with Bitcoin? And should be ok with currency controls or allow the public the chance to be in full control of untethered currency?”

    Check out the interview with movie director “Banking on Bitcoin.

    “Banking on Bitcoin” stars Charlie Shrem, Gavin Andresen, Erik Voorheen, Barry Silbert, Cameron Winklevoss, Tyler Winklevoss, Benjamin Lawsky (BitLicense creator,) Alex Winter (‘Deep Web’ creator,) Nathanial Popper, Andy Greenberg and Paul Vigna. Here is an exclusive clip of the movie, which premiers on Friday, January 6th. Visit Gravitas Ventures for more release details.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Bitcoin Banned in Colombia

    ​​Finding good news about the exciting world of Bitcoin and decentralized digital currency isn’t hard to find these days. Exchanges around the world are reporting trading records, the Bitcoin price has reached three-year highs, and even the mainstream media is feeling Bitcoin fever. Yet, not every nation in the world is enamored with “The Internet of Money,” as the South American nation of Colombia has decided to end 2016 by banning Bitcoin usage, domestically.

    Bitcoin ‘Investment Clubs’ Blamed

    Francisco Reyes Villamizar, the superintendent of Colombia’s Superintendencia de Sociedades, made the announcement before the New Year’s holiday that the only legal currency in Colombia is the peso, making Bitcoin’s digital currency illegal. The problem stems from the growing cottage industry of Bitcoin ‘Investment clubs.’ 

    Reportedly dozens of citizens in the country have filed formal complaints of these firms who operate as ‘pyramid schemes.’ The operators offer fantastic returns in excess of 100% in a matter of a couple of months in exchange for investments and referrals to more investors.

    "Investors should know that they are exposed to enormous risks by investing in alleged currencies that have not been accepted as legal in the country," Reyes Villamizar said. “These so-called advisers promise investors to manage their bets on investment platforms and generate higher returns than they would get if they bet their money directly (loosely translated).”

    These individuals and companies usually operate under pseudonyms and organize forums and ‘private’ meetings on different technology platforms to leave no trace. Exactly how Bitcoin would be banned by the average mobile wallet user has not been determined, and the ban may only apply to such business-related uses like investment startups.

    This marks the first official banning of Bitcoin on any national scale that we have discovered. As we reported last year, regulators within Russia were considering their own ban, with the potential for up to seven years of prison time for the use of Bitcoin, but have since relented. Bitcoin investment at sites like LocalBitCoins.com has grown to new heights over the last six months.

    Many nations have seen the nation’s central bank issue an official warning against the use of “virtual currencies,” as ion the African nation of Kenya, for example. However, an outright government ban is not commonly seen, much less enforced. Nations are much more likely to create their own version of Bitcoin, as we have previously reported. The nation of Japan has gone so far as to legalize Bitcoin use officially, and put its value on par with the Japanese Yen.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • 6 Steps to Superior Bitcoin Privacy and Security in 2017 and Beyond

    ​In a world that is becoming less and less secure, more and more intrusive, and demand for your Bitcoins, and Bitcoin account information is always in demand, Bitcoin users need to be more and more vigilant in their security measures.

    The ethos of Bitcoin itself is to be your own bank, and you, as a personal bank manager, needs to be up to speed on the latest Bitcoin security measures. Are you using these seven steps to Bitcoin security? Here is a refresher to make sure you are properly securing your precious Bitcoin in 2017 and beyond.

    Offline or Cold Storage

    The absolute safest way to protect your valuable Bitcoins is to take them offline, altogether. This can be done with a paper wallet, but a hardware wallet is much more convenient, and the competitive market is driving down prices. You can now get a Trezor or KeepKey for $99 USD, and there are more options upmarket if you want to add more security features and options. Online keep Bitcoins in online wallets that you are comfortable losing to hacking or embezzlement. Many popular online wallet providers like Coinbase and Xapo offer this option as well.

    Two-Factor Authorization (2FA)

    Fairly straight forward security feature. Your wallet should have more than one security protocol to access your Bitcoins, where it is  Google’s Authenticator or a rolling code you type into to access the account, make sure your wallet has 2FA available and activated at all times.

    Keep an offline file of your passcodes, mnemonic seeds and PINs

    Trusting everything to your mobile phone or computer is risky, with theft, hackers and viruses always lurking in the weeds. If you have any considerable amount of Bitcoins, write down all of your log-in credentials in an offline notebook, or even put this information in a safe deposit box. You can’t put cash or gold in these boxes anymore, but you can secure something even more valuable.

    Use a Private Email Service

    Over the last few years, encrypted email providers have started to pop up and add a layer of privacy to the online world in light of the surveillance many popular email systems and apps have suffered. Tutanota, Protonmail and Open Mailbox are good places to start if you want better privacy and end-to-end encryption. If you are your friends want to send Bitcoins to each other, you can share your Bitcoin keys, and Bitcoin intentions, through fully encrypted services like these.

    VPNs or Virtual Private Networks

    Something I have used for years and a really under-utilized service, using a VPN provides many benefits to any online user, including Bitcoin users. You can choose a faster server or a country with less online surveillance. They have hundreds or even thousands of servers to choose from and millions of IP addresses you can switch from every hour if you like. Most can be had for less than $10 USD a month, and many also accept Bitcoin, like BitMyAss.com, which works with the VPN market leader, HideMyAss.com.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University