1 = 906.92 USD

Bitcoin News

Bitcoin Opinion Pieces

If you need the best bitcoin features, here you will find the latest opinion pieces from the Bitconnect team on bitcoin and other digital currencies.




  • Anti-corruptionserviceonblockchain.E-Auction 3.0 developer will attend Tallinn

    On March 9, 2017, one will present the electronic auction service – e-Auction 3.0 – at Blockchain&Bitcoin Conference in Tallinn. This project has been developed by Ukrainian IT specialists. Its concept is to replace officials for transparent blockchain. It shows conditions, process and results ofpublic property lease and sale auctions

    E-Auction 3.0 is one of significant government control projects: it has shown that the problem related with subjective decisions and intervention on trading can be eliminated by the code. The service was tested in the range of Ukrainian cities and won support of certain administrations.

    Big Ukrainian banks and Microsoft helped the team of developers. A lot of people were participating in the project voluntarily, so its implementation didn’t even require money investments, told LashaAntadze, the development of e-Auction 3.0 and participant of major blockchain conferences.

    At Tallinn conference, he will present the govtech service, well-known in Ukraine and Russia, and tell about the project development.

    According to organizers, Karolina Martsantovich (leadingIBM engineer), KasparKorjus (e-Residency Managing Director) and Jon Matonis (founder of BitcoinFoundation) have already confirmed their participation in the event.

    You can find more details and register on the website: Blockchain&BitcoinConferenceTallinn.

    The published press release on this page should not be viewed as an endorsement by us. The website or company may be unsafe, untrustworthy, or illegal in your jurisdiction. You should do your own research before investing money in any company or website.

  • Why Bitcoin Price is GUARANTEED to Exceed $1000 by First Week of 2017

    ​​​I know. I am not exactly going out on a limb here since Bitcoin is already trading at $975-980 USD at this time. Bitcoin is on a “bull-run” unseen since the rise and fall of Mt. Gox in November of 2013. The market dynamics are far different now, far less centralized around one exchange today, and Bitcoin market demand is much higher while Bitcoin supply is now much lower. Now, I have even more good news for Bitcoin investors. In fact, I have a guarantee!

    When was the last time I wrote a guarantee into a headline, in my almost three years of writing Bitcoin news articles? That would be sometime around never. Today, I will make a prediction, a New Year’s resolution, or a guarantee that Bitcoin’s market value MUST exceed $1000 USD by the end of the first week of 2017. It is fait accompli, and I’m being pretty damn conservative here. I’ll be shocked if the price isn’t in excess of $1100 by January 10th, 2017. Here’s why.

    The answer is pretty simple and straight forward, and as usual, it revolves around China. China is by far the largest Bitcoin market in the world, controlling about 95% of the world’s purchasing from fiat into Bitcoin. January 1st is the start of a new year, obviously. This also represents the start of a new annual $50,000 quota to convert the yuan into foreign exchange resets in China. Every year, you can take $50,000 worth of Yuan and invest it elsewhere. It doesn’t take a rocket scientist to see where China loves to put their investment capital these days, or in the days to come.

    “In the new year, the new foreign-exchange purchase quota starts, so we expect yuan positions in January to drop significantly," Liu Dongliang, an analyst at China Merchants Bank Co., noted earlier this month." 

    In other words, come the first week of January, there will be the equivalent of a bank run throughout China, at least by the savvy investors, and they won’t be looking to withdraw $50,000 to buy groceries. Chinese investors will be dumping Yuan to get Bitcoin and other valuable assets like Gold, Silver. Bitcoin’s “bull run” should be expected to continue through at least the first couple of weeks of 2017, if not the entire month of January.

    China’s purchasing power consistently sets the global market price on Bitcoin, so a wise investor would continue to stock up, as their investment will continue to grow in 2017. Maybe this explains the run on BTC tin China taking place as we speak? Maybe Chinese investors are reading the tea leaves for 2017?

    In any event, Bitcoin has made this a Merry Christmas for Bitcoin investors, and it seems destined to also create a Happy New Year for all of those wise enough to invest into what some are calling “The Future of Money.” If you haven’t begun investing in Bitcoin, make your New Year’s Resolution to start now today, and take advantage of a great time to be a Bitcoin investor. I guarantee you will enjoy your investment returns in January of 2017

    If you are new to Bitcoin, feel free to join the community here at bitcoinnect.co, and click here to get a free online education in how you can get started using Bitcoin in 2017, and discover all that a Bitcoin can do for you.

     

    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

  • Another Day, Another Bank Found Rigging Global Finance Markets

    As a banker on Wall Street, from 2008-2011, I learned a great deal about the way the world turns. You know what they say, “Money makes the world go ‘round.” It proved much different in the real world than my standard college education in economics. Colleges do not teach you how to become a banker, much less how the FOREX market really does business.

    Like politics, the banking industry definitely has a seedy side, an underbelly, that I was not comfortable with, ethically, so I heading into the Bitcoin space. This story underscores why many good people in banking have headed for higher ground. Deutsche Bank has settled their market manipulation lawsuit from 2014 for a reported $60 Million USD.

    This is not standard industry practice, is it?

    Before I get to that, let’s go over what happened here. If you are an investor in precious metals, you may have noticed a disturbing trend in the value of gold and silver over the last five years or so. After peaking at about $1800 USD for gold and about $40 USD for silver back in 2011, the two popular investments have plummeted, causing silver investors to lose more than half of their value and gold to lose about 30%.

    Some found it strange that every financial advisor, known as FAs in banking circles, and television investment expert have told people to buy gold and buy silver for the last five years, yet the price has dropped in lockstep with all of this new money. It turns out that these precious metals markets have been controlled for years by banking interests like Deutsche Bank, and other banks.

    Deutsche Bank hasn’t even bothered to deny the claims against them in a classaction lawsuit outlining the following offenses against the common investor: employment of manipulative device claims, bid-rigging, and unjust enrichment, price fixing and unlawful restraint, price manipulation claims, and aiding and abetting and principal-agent claims.

    You see banks can independently, or collectively, manipulate a global market, or stock on an exchange, by “shorting” the stock or commodity, basically betting that it will lose value. This can be very profitable in a market as large as the global FOREX or gold market, and as you can see from any 5-year price history of Gold and silver, Deutsche Bank has made plenty of money doing this over the years.

    They certainly aren’t alone in this level of shadiness. Last year, the United States’ Department of Justice found some of the world’s largest banks guilty of currency and interest rate manipulation. Citicorp, JPMorgan Chase & Co., Barclays, Royal Bank of Scotland and UBS Group AG were found guilty of collusion, aligning positions, and timing transactions. The “short” of this story is that the markets are rigged, from the LIBOR to U.S. real estate, to interest rates, to precious metals like gold and silver.

    $60M USD is hardly a fine, as Deutsche Bank has made far more than that, you can be assured. This is a tacit slap on the wrist, and really a wink to keep doing it, maybe in a less obvious manner, and make sure other smaller banks don’t piggyback off their con game. Deutsche Bank made a very nice profit, and no one is going to jail, so what’s the problem?

    The only problem is you, the common investor, lost your shirt in their global 3- card Monty game over the last five years. If you think they’re the only bank rigging the precious metals market, you’re just a babe in the woods. This settlement is a farce, and it is meant to give the illusion of the policing of these markets. These are felony crimes where no one goes to jail for theft or embezzlement. No better than what Mark Karpeles did at the Mt. Gox exchange in 2013, just on a much grander scale.

    It is important that you understand the relationship between governments and banks, so I’ll wrap it up for you with these couple of paragraphs from “The International Man,Doug Casey, who explains it better than I ever could. (Get his free newsletter, BTW. Highly reommended.)

    “Governments, who are all bankrupt, borrow money from commercial banks. Commercial banks have lent it to them because they believe it’s a risk-free loan. Governments encourage them to lend recklessly, hoping that will jump-start sluggish economies. Central banks, which are the arms of their governments, have taken interest rates to zero and below for that reason and to make it easier for governments to service their debts.”

    “This policy has encouraged businesses to take on debt. It’s an idiotic and reckless experiment that will end, likely in this economic cycle, with bankrupt central banks and governments bailing out bankrupt commercial banks and businesses. Just the way they did in 2007–2009. Except this time (in the coming global economic crisis) the situation is much more serious.”

    So this is something you should keep in mind, going forward. Are you investing in financial systems that are rigged by the banks against you, like FOREX, gold, and silver? Or are you investing in sound money, free-market capitalism markets, like Bitcoin?

    If you want a legitimate economic market to invest in, Bitcoin may be “The Last of the Mohicans.

    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

  • Experts question whether Ethereum will sink or swim in 2017

    ​When I was a young boy, my father told me an old saying that went “United we stand, divided we fall.” That could definitely apply to Ethereum, who’s lost a great deal of brand strength since the fall of DAO and its corresponding hard fork. Basically, a really bad month has undone most of what Ethereum accomplished in the first half of the year. The community now stands literally divided into Ethereum and Ethereum Classic factions, with no merger in site. Where does Ethereum go from here?

    Wild Rookie Year for Ethereum

    Hard to believe that Ethereum is less than 18 months old. It seems like it has been around for 5 years already, after a very eventful rookie season. It started 2016 worth less than $1 USD, then rose to near $20 USD in June, but the DAO implosion and the recent hard fork have left the Ethereum brand tattered and torn into two groups. EconoTimes spoke to some industry experts on what they think of Ethereum and what they expect in the next few months.

    “Building a general smart contract platform should be treated like software development of critical infrastructure...Right now, it is being treated as a typical web development project by the foundation. Constant hard forking is not a viable solution”, said angel investor, CEO of Gulf Pearl Ltd. & Home Jinni Inc. “For example, Smart Contracts could have been written that were invalidated by the changes introduced in this hard fork. This is not a path to follow for being taken seriously and it can be an existential threat to Ethereum.”

    Thye smart contract concept and technology may live on and be just fine, but the trust in the brand may be the biggest issue. Did Ethereum get too hot, and grow too fast before they were ready for mainstream adoption? That could be a factor in their current plight.

    “As everything is a Proof of Concept right now, I believe Ethereum is safe, and even necessary from an ecosystem perspective, for the immediate future,” said Rik Willard, Founder & Managing Director of Agentic Group LLC. “However, as other interesting ideas begin entering the decentralized platform race (such as Fermat), Ethereum will have to increase its consumer-facing and enterprise development to remain relevant.”

    Ethereum has an educated, passionate user base, but you also have to consider how long will it be before another smart contract altcoin alternative comes after Ethereum in its weakened state? The Ethereum brand is at its weakest point since January, and it could use some leadership. The problem is Ethereum is not creating an image as an investment alternative to Gold but a tech advancement. This is fine unless you have to basically start from scratch when problems arise, severely damaging long-term credibility.

    “The fact that immutability has been destroyed is definitely troubling. To some extent it erodes confidence because immutability is one of the main pillars of blockchain”, Nerayoff said. “I think the danger about this is that it sets a precedent about Ethereum on a slightly stronger position because its ecosystem has a breadth to it, even more than Bitcoin’s.”

    (Regarding the two versions of Ethereum) “Will the real Ethereum please stand up? The reassuring part is that many purists remain who believe in immutability, enough that ETC will live on”

    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

  • Blockchain as viewed by IBM: why we need HyperLedger project and new technology

    On Thursday, November 10, IT giant IBM will present its vision of blockchain development in Russia and the world. Vladimir Alekseev, leading client technical architect, will offer a review of the most inspiring projects, based on this technology.

    IBM is one of first companies that have got to the top of the tree of developments based on blockchain, a decentralized block chain, containing data transfer information. IBM analysts are sure: the next year, 15% of world banks anyhow will use blockchain services.

    According to Karolina Martsantovich, leading engineer of IBM, blockchain is the technology that helps a company to determine methods of business operations, asset management and person identification on the back of the whole digitalization of the world. In the near future, b2b and b2c sector will apply blockchain just like today one uses http, Karolina Martsantovich is assured.

    The company has implemented thousands of code lines into the smart contract system called Hyperledger by Linux Foundation. Hyperledger is designed to become an alternative of Bitcoin and Ethereum and, consequently, an encyclopedia of developers. Anyway, it is such a way that its participants, including Intel, CISCO, SWIFT и J.P.Morgan, call the project. Their collaborative developments are optimized for the banking system, manufacture, insurance sector, and the Internet of things.

    You will be able to communicate with IBM representatives and to learn more about HyperLedger project on November 10 at Moscow Digital October center. Details and registration on the website: Blockchain & Bitcoin Conference Russia.

    Contact Details

    Websitehttps://goo.gl/pdU6OS

    Email: m.kryzhevskaia@gmail.com

    Phone Contact: +7 495 212-11-28

    The published press release on this page should not be viewed as an endorsement by us. The website or company may be unsafe, untrustworthy, or illegal in your jurisdiction. You should do your own research before investing money in any company or website.

  • Bitcoin Price Projects To Pass $840 USD: Top Investment Analyst

    Bitcoin, as an investment, is having another great year, buoyed by the major movement seen this past week. Seven days ago, Bitcoin was trading at less than $630 USD, and now it is approaching $690 USD. For 2016, it is up well over 50% and one noted investment analyst says this is just the beginning. Spencer Bogart of Needham & Company, headquartered on Park Avenue in New York, sees Bitcoin’s future as being very bright, and releases his findings in a detailed Bitcoin “Investment Thesis.”

    To The Moon!

    Bitcoin has many things going for it, but it is not often that the mainstream admits it. Originally revealed by mega-site ZeroHedge, you can see the full report in its entirety here.

    Bitcoin is now entering its buying season, as trading has traditionally increased during the winter, and faded during the summer. The Bitcoin “halving” has reduced the supply of the disinflationary currency, forcing values up as demand increases. And Segregated Witness should help Bitcoin close the year strong, provided miners and full nodes choose to adopt it and allow the 60%+ increase in block efficiency/capacity it is designed to provide. Here are three observations Bogart made.

    "1) Adoption trending faster than we forecasted in March, 2) Improving fundamentals, and 3) Upcoming protocol improvements that present attractive optionality for the price of Bitcoin. At the highest level, we continue to see value in Bitcoin as a "digital gold" and as a payment network that is enabling a global, open, permissionless financial system.”

    The “improving fundamentals” refers to expected protocol updates like Segregated Witness and The Lightning Network. Bogart also mentions Bitcoin’s increased stability making it more appealing.

    “While Bitcoin is notoriously volatile—especially relative to the world’s major currencies—its volatility has declined significantly in recent years and is similar to several more well-known assets. Specifically, Bitcoin’s daily volatility is now comparable to small cap equities”

    Bitcoin has also shown itself equal to Gold when a crisis in the market strikes. The report shows with this chart below that people move into Gold and Bitcoin after the unexpected “Brexit” revolt by Great Britain. Bitcoin has shown itself to be a great asset and safe haven for years. “Grexit,” the "bail-in’s" of Cyprus back in 2013, and the current economic downturn in China being clear examples of Bitcoin’s value under fire.

    Bogart also shows how much Bitcoin has grown, going back over three years in transaction history to underscore the volume increases. If you just look from the first of the year, Bitcoin transaction volume has gone from 125k to 230-260k daily.

    “Daily USD on-chain transaction volume, as estimated by Blockchain.info, has grown at an impressive 224% CAGR since January 2013. Spikes in USDequivalent transaction volume tend to occur when the price rises significantly. In particular, we note that transaction volume in mid-2016 has grown more than threefold over a year ago."

    So Needham’s Bogart seems to love Bitcoin, but not the Investment Trust (GBTC) it rode in on. He can’t seem to make a recommendation on GBTC at this time.

    “We view shares of the Bitcoin Investment Trust (OTCQX: GBTC) as benefiting from the rise of value in their underlying security, Bitcoin. Based on our projected demand for Bitcoin as a “digital gold” and as a payments channel, we estimate a present value of $848 per Bitcoin. However, given the substantial premium at which GBTC shares trade relative to their net asset value, we are downgrading GBTC shares to HOLD.”

    What is important is the underlying value of the “security,” Bitcoin, which is starting to hit its stride. With more positive reviews like this, and with prices jumping 10% a week, the mainstream investor is that much closer to finding out the other amazing things it can do besides exemplify a good high-risk, high-yield investment.

    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

  • 7 Reasons Why Bitcoins Are Better Than Fiat Currencies

    ​One of the most asked questions I get when people discover I work in the Bitcoin industry is ”Evander, why should I start using Bitcoins when I have Dollars (Or any other fiat currency)?” Instead of explaining it to each person for ten minutes, I figured I’d just make an article about it that I can send out with a simple hyperlink. Hell, I might put the link in my email signature!

    FYI, “fiat currency” is any national currency decreed legal by the national government, but is intrinsically valueless money. Fiat currencies no longer represent gold deposits or other things of known market value. They are just the accepted pieces of national paper, printed by a private central bank and loaned to the national government, with interest. All fiat currencies are debt instruments.

    The U.S. Dollar and other fiat currencies certainly have their own inherent advantages, which mostly revolve around their acceptance by the banking systems that create them. These will prove fleeting in the coming years, whereas Bitcoin’s advantages are built into the technology, can be amended or updated through the protocol, and are built to stand the test of time.

    Here are five reasons (out of many) why bitcoins beat dollars, both now, and in the future. I will use the global reserve currency, the U.S. Dollar, for all relevant fiat currency examples, but any centralized bank note will still have the same principles apply. Please feel free to reference this in the future, and share it with your friends. So let us begin…..

    1. Bitcoin Gives Financial Power to The People; Takes it From Banks

    Before Bitcoin was officially launched on January 3rd of 2009, the modern world had never had a financial system without total control by the banking industry. You can go back several hundred years to the time when paper currencies were direct claim checks for gold deposits. Banks were in control of the entire system, especially when they figured out that they were the only ones who knew how much gold was, or wasn’t in their possession, which led to the current legalized hustle known is “Fractional Reserve Banking.”

    In “Fractional Reserve Banking,” banks can, legally, only be held responsible for having a fraction, usually 10% or less, of the funds they have on loan. So if they lend out $100 USD, they are only responsible for having $10 or less on hand to cover that loan. This explains when the “Grexit” was going on in the Summer of 2015, and people starting hitting the bank to take money out en masse, known as “a run on the banks,” the banks simply closed, and limited withdrawals to $60 a day. Banks are only one miscalculation away from being totally bankrupt, as the emperor really has no clothes. Or cash.

    Now if you want to beholden to this system this is a choice, not the only game in town. I have lived for three years without a bank, and many others in the Bitcoin industry are doing it every day, so it can be done. An independent Bitcoin economy, with businesses like BitPay, OpenBazaar, and Purse.io give you the a real option of having your own economic system, without being tied to a bank.

    Yes, you can have economic power on a peer-to-peer basis, but you have to want it. You have to be strong enough not to live in fear of separation from the establishment. Most people are so dependent upon banks they can’t imagine life not tied to one. The problem is not need for an option, its courage to accept one. You have to want to be free from the banking system, and then have the maracas to make it so. With Bitcoin, you have that option, for the first time in modern history.

    2. Fiat System supports Kleptocracy; Bitcoin Will Rebuild Free-Market Capitalism

    Andreas Antonopoulos explains this point far better than I ever could……

    3. Bitcoin’s Appreciation Beats Dollar’s Inflation

    First, many people actually do not know what inflation means. Having been in banking for years myself, I discovered that most people believe inflation to be the price of goods and services rising over any period of time. This is the effect of inflation, not inflation itself, an important distinction. Inflation means that the amount of U.S. dollars, the “global reserve currency,” or any currency, in circulation continues to increase. It is the number of currency units in circulation and is not tied directly to market prices.

    Consistently, since WWII, the U.S. Dollar has lost value every single year due to inflation. This is a bad thing since the more actual dollars there are in circulation, the less each dollar is worth in circulation. Economic policies like “Quantitative Easing” lead to as many as $1 Trillion U.S. Dollars being made by the U.S. Federal Reserve, annually. This leads to real-world inflation levels of 5% or more, per annum, even though the government will tell you 2% or less.

    Prices in the government’s CPI index base this on 25 items that they change conveniently to fit the numbers the want to show. If meat prices are rising 10% a year, it is simply removed and replaced with something that doesn’t reflect the actual higher rate of inflation. A good way to game the system, and keep you ignorant.

    Bitcoin, on the other hand, is a deflationary currency. It has a set amount of bitcoins in circulation (12.5 new Bitcoins are added into circulation every 10 minutes), and a capped maximum amount overall (just a hair under 21 million). This forces the Bitcoin value to increase based on standard supply and demand economics, or “sound money” principles. As more people enter the Bitcoin ecosystem, Bitcoin’s value per unit increases over time, a very foreign concept to anyone brought up to use a paper currency, as they NEVER rise in value.

    To illustrate this important point, Bitcoin’s market value has increased over 50% so far in 2016 after rising over 35% last year, when it was the world’s best performing currency of 2015. For those who use dollars exclusively and are not familiar with this economic concept, this is called “appreciation.” When is the last time a U.S. Dollar’s value “appreciated” that much in a year? That would be sometime around never. Paper currencies are designed to be debased by banks and government, whenever it serves their needs. This is great for them. For you not so much…..

    4. Bitcoin’s Speed Beats Dollar’s Speed

    Try to move $1 million dollars, physically, or otherwise, from your bank to….. anywhere! Try to walk up to a teller at your bank, imagining you had over $1 million laying around in your account, and just remove it from the bank. Forget about matching Bitcoin’s speed in transferring that money to the destination of choice, you’ll probably be put on any number of terrorism watch lists throughout the nation, for openers.

    Not only would your interrogation by multiple layers of bank personnel by arduous, but you’ll probably be tailed, and mugged. Try to take $1 million in cash on a plane or through any TSA Checkpoint/Customs Area. You will make plenty of enemies along your journey, and join more Most Wanted lists. It’s just a pretty bad idea, overall.

    In contrast, hundreds of millions of dollars in Bitcoin are moved at a time on the blockchain from one address to another. In a matter of seconds, millions of USD worth of Bitcoins can be sent. This is not possible in dollars without a major identity shakedown from multiple fronts.

    So if you wanted to walk out of a bank with “your money” in cash, and take it to Tokyo, besides the time of traveling itself, you will have to jump through so many hoops of regulation and invasions of your privacy, the time it would take you to get there may double. With Bitcoin, if you have a smartphone wallet, the same amount of money can be transferred and confirmed in the same time it would’ve taken you to leave the bank branch. Bitcoin is a faster way of doing business.

    5. Bitcoin Costs Significantly Less to Send Than Dollars Do

    Let’s say you just wanted to wire the money. Go down to your bank, and see a teller or banker, which has it’s own cost in time and travel fees. Fill out the form, and pay a bank fee, which will be a flat fee of around $30 or a percentage, depending on the bank and how much you are sending.

    Privacy is a nice utopian idea, but it’s not for the real world of finance. Now the bank knows what you did, how much you did it with, where it's going and who is picking it up. If you are sending $100,000 USD or more, you may expect a rubber glove treatment by bank personnel.

    Let’s say you send it to a person in China doing business with you. They have to travel to their bank, which is a cost. They can pick up the transfer, after exposing their identity, the fact that they are receiving money, and they may have to pay a fee as well. And this can take anywhere from 1 to 5 days, depending on the amount, and where the transfer is going. So it’s inconvenient, costly, and timeconsuming. A triple threat!

    With Bitcoin, you can send any amount to someone’s QR code or address and pay about 0.004 BTC.

    Forget using something like Western Union, where fees can go from 5–20% of the amount transferred! That’s why the remittances market is so fertile for Bitcoin. The Third World is waiting, pleading, to reach out and grab a better option than Western Union transfers. Anything is better than that!

    6. Bitcoin Security beats Dollar Security

    How many times have you lost $20 here or $20 there? Or lost your entire wallet, in your lifetime? Five times? Ten times?

    Ok, now how many times have you lost your computer? Or digital wallet? Stupid people can do a lot of things, but let’s agree it is much harder to do and will happen less often over time. Some things are a lot less likely than others.

    Losing paper money is relatively easy to do, forget actual theft of it. Identity theft is now somewhat commonplace (about 7% of Americans in 2014, starting at age 16), and counterfeit bills are still an issue, as countries around the world continue to change their bills in hopes of stopping it.

    Bitcoins are digital in nature, so they can be backed up and saved to other servers, computers, protected by multi-sig, passcodes, paper wallets, offline vaults, cold storage, brain wallets, etc. The security options are only limited by your imagination.

    There are really only three ways to “lose” your Bitcoins, which are trapped in a public blockchain anyway, so they are never truly “lost.” You give your Bitcoins to someone for a good or service and they do not provide said service. You give your Bitcoins to an exchange, which then gets hacked and loses them for you. Or you forget your password or credentials to your wallet, locking away your Bitcoins into a vault-like abyss forever.

    All of these are very preventable with a little forethought, and wouldn’t happen by accident, like putting your wallet down at a bar or at a gas station. Bitcoin security options far exceed those of common dollars, especially those held in your hands (Stick ‘em up!)

    7. Bitcoin’s future is brighter than the Dollar’s future

    “The Almighty Dollar” is still king of the world when it comes to paper currency. but this ain’t your Daddy’s Dollar. Today’s U.S. Dollar is over 70 years old as the global reserve currency. This means it has liver spots, a severe limp, and a leaky bladder. Uneasy is its crown on the throne. The clock is ticking on the ‘ole Greenback.

    In case you haven’t been told by your mainstream media outlet (That wouldn’t be the first time,) Russia, China, Brazil, India, and South Africa have created a world bank called the BRICS Development Bank for the sole purpose of hating the U.S. and the Dollar they rode in on. These countries represent 40% of the world population and 40% of the global currency reserves, so it’s a HUGE deal when they all form an international hate group.

    Interest rates are already at near zero, or less than zero, and dozens of countries have been performing bilateral trade agreements to avoid the dollar for the past few years. The US is already approaching $19 trillion in national debt, the U.S. Dollar can collapse at any time.

    China and Russia are buying up gold faster than it can be mined over the last several years. They are expecting something, are building a leveraged position, and the U.S. Dollar is not going to be on the inside of the economic plan coming its way. The Dollar won’t be around as the world’s dominant currency for too much longer, the way things are going.

    Conclusion

    Meanwhile, Bitcoin is not going anywhere. Bitcoins are pieces of digital code, decentralized information. They are not being debased now or in the future. They can be sent by any form of information transfer, from morse code to text messages to a napkin passed along a table at a diner. They can be divided into millionths of units, and the skill set of a Bitcoin makes them the most versatile currency the world has ever known. Bitcoin’s value rises with every new person who discovers its abilities.

    Bitcoin cannot be killed, no matter how many obituaries the mainstream tries to write for it. Like killing Jason Voorhies, who carries a keyboard instead of a machete. Bitcoin is the future of money. Dollars are money’s past. Like still playing a CD in 2010, you’ll catch up.

    China, the U.S., Tunisia and other countries are either discussing marking their own digital currency or have done it already. They’re admitting their paper tiger is just that, and its time to enter the 21st century. I already have. Have you?

    Don’t settle for a bad copy of a classic movie. Watch and enjoy the original today. You’ll be glad you did.

    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

  • Something Simple You Can Do to Help Grow The Bitcoin Community

    Ever meet someone new and the first question that comes up is “What do you do for a living?” When people I don’t know ask me what I do, I tell them that I write about Bitcoin, or I teach people about Bitcoin, or I invest in Bitcoin. That buys me at least one minute of genuine interest and curiosity. Let’s presume you don’t know this person very well, as only a passing acquaintance, like someone you may spend time in an elevator with. This is where something in sales called “The Elevator Pitch” comes in handy.

    Someone you know named “Alex” on your floor, either at work or in your apartment building, comes into the elevator, or runs into you in passing. You know you’ll be spending the next 30-45 seconds or so with Derrick, and he says “Hey, James, how’s it going?” If you’d like to introduce Derrick to Bitcoin, you can tease him with “The Elevator Pitch” and the conversation can go something like this (Feel free to tweak this to your exact circumstances).

    “Hey, James, how’s it going?”

    “Oh, things are just great, Alex. I just invested in some bitcoin, with values on the rise. Just bought my coffee/paid my internet provider/bought a gig on Fiverr with bitcoin.”

    “Oh? Yeah, I’ve heard of bitcoin. What is bitcoin again?"

    Whatever you said, the goal was to get him to ask you a “buying question” or for more information on Bitcoin, so make it sound interesting, but not complicated. This is where ‘The Elevator Pitch’ begins. It should last no more than 30 seconds while highlighting 2-3 great benefits, not features, to the user. It should pique the person’s curiosity to maybe do a Google search on it later. Here’s an example of the pitch I use in these situations. You should practice yours beforehand.

    “Well, Derrick, imagine sending unlimited money, anywhere in the world, for free, with your smartphone. Imagine an investment that was worth a thirty cents five years ago and is now worth over $500 USD. Imagine a way to buy plane tickets, a cup of coffee, or a Tesla electric car without a bank fee, or risk of identity theft. What if you were your own bank, Derrick? Wouldn’t your life be better? That is ‘The Future of Money.’ That is Bitcoin.”

    That’s not too hard, right? Then ask if he’d like more information, and refer him to a site that may help him learn more (Bitcoin Video University might help) without overwhelming him with information. Ask him for his email to send him a link. I’d recommend an Andreas Antonopoulos video on YouTube that is focused on Bitcoin beginners. Search: “Bitcoin Andreas.”

    Elevator pitches are like snowflakes, no two are alike. Come up with something you can say in 4-5 sentences that is easy to understand and remember, but will make someone curious about Bitcoin. Leverage major sites that accept it like Fiverr or Microsoft. It should hit some hot buttons like identity theft, lower cost, high appreciation in value over time, etc. Have fun with it. Set goals that you will elevator pitch three people this week. Maybe somebody at your gym, someone at work, and someone in your neighborhood or church.

    The more people who buy it and use it, the more its mainstream monetary value increase and more businesses will sign up for it as well. When you do your part, and share Bitcoin with your community, Bitcoin and its “Network Effect” get a boost. If the mainstream media’s version of Bitcoin is all the common man hears, it will never gain mass adoption. We, who know better, need to fill in the gaps.

    Just like the Internet did 25 years ago, revolutionary inventions like Bitcoin can grow virally, if you spread the word, so get to it! Think of three people you’re going to share “The Future of Money” with this week. Consider this a way of giving back to Bitcoin by sharing its treasures with your own community. Sharing is caring, so start caring!

    In my experience, people are curious about Bitcoin, but negative press and its complexities are major barriers. It’s a little over people’s heads, but if you make it simple, and tell the positive sides of owning it, you have a fair chance of growing your Bitcoin community. Give it a try.

    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

  • How Bitcoin’s Grey Area Legal Status is a Win for Bitcoin

    ​People have been asking me and the Bitcoin community “What is Bitcoin?” for over seven years now, and the answer is still not easy to come up with. It is everything, and it is nothing (that can be held in your hand) at the same time. It is a savings instrument and an investment tool. It is currency and it is code. It is publicly traded, yet it is privately-held. So it is a conundrum, unofficially.

    Now, this conundrum has begun to hit the legal system in the U.S. for a verdict, and last month the legal precedent was started in Miami’s Dade County that Bitcoin is not “money.” Is that a good thing or a bad thing?

    A win-win for Bitcoin

    Personally, I KNOW Bitcoin is money and have made that argument going back to last year. I won’t restate it here, but check out my thoughts on the how Bitcoin is not just money but superior money to what we have here. Bitcoin being thought of as money worldwide would drive up demand and interest in the digital currency, which may be a good reason to not, officially, give it that distinction. Bitcoin being called “money,” in the legal world or in the court of public opinion, would be a definitely “win” for Bitcoin’s public image, which has been under siege for most of its recent history.

    As we reported last month, Judge Teresa Pooler voted against Bitcoin being ruled, legally as “money,” which brought immediate dividends to one Michell Espinoza, who was charged with two felonies including money laundering. Well, if Bitcoin isn’t “money” than he wasn’t money laundering so that case was thrown out of court. This was a law enforcement attempt to criminalize Bitcoin use, and it failed, so the Police State took the loss in this round.

    This verdict is not the most well thought-out decision in history, saying only money can be “hidden under a mattress,” but it may grease the wheels for future verdicts along the same lines. If Bitcoin will not be “money” in the future, then owners, exchanges and others who use it will not face nearly the legal scrutiny that they would if it were. Legally, this may be the best place for it, and the right place for it, given its ability to be everything as a digital concept, yet nothing at all.

    Most nations have no legal standard for or against Bitcoin at all, as it is not used to a great extent outside of maybe two dozen countries. The less the world tries to shove Bitcoin into a box that they can define, regulate, and tax, the better off the Bitcoin community should be, economically. If being “money” means counterfeiting, inflation, depreciation, war-mongering and massive regulation, then sign me up for none of the above. Bitcoin might be the world’s best money because it is so advanced that it can act as money without any of money’s weaknesses, and without any special attention from the law.

    I get paid in Bitcoin and pay in Bitcoin, so I know from personal experience it is money if you want it to be. Maybe it is best that the legal world in the U.S. dismisses this possibility. Most countries in the world have done the same by sheer ignorance; choosing not to make a circuit court case out of the issue. Again, that’s easily a net positive for Bitcoin, in the grand scheme of things. Showing legal disrespect for Bitcoin really helps it grow by avoinding that level of legal scrutiny, so its a win-win for Bitcoin’s future, either way.

    Flying under the radar is the only way to fly. To the moon.

    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’s Official Bitcoin Global Market Report - July 2016

    The month of July was among the most anticipated months in Bitcoin’s young history. It included Bitcoin’s most noteworthy “halving” ever, given the global network has grown by orders of magnitudes since the previous one in 2012. How would the Bitcoin blockchain handle all of the transactional volume before, during, and after the “halving?” In BitConnect’s premier monthly Global Market Report, we’ll reveal the metrics that show how Bitcoin handled this unique period in its history.

    Many unexpected Post-halving results

    Before the July 10th halving, the market was awash with higher-than-normal transaction volume, as the graph below depicts (all graphs and documentation is provided by bitcoinity.org, except where indicated.) The day movement hit its peak for the month way on July 6th, 2016, when OKCoin move over 1.5 million BTC for the day and Huobi moved almost 1 million.

    As you can also see, after the halving on July 10th, volume dropped consistently and became much more stable, which should explain the price stability since the halving. This Coindesk Bitcoin price chart for July shows how tranquil the market became throughout the rest of the month.

    We have compiled the charts of the most influential Bitcoin exchanges for each major currency (USD, CNY. EUR, GBP) over the last 30 days and the amount of BTC moved over that time in each. Bitfinex is by far the leading exchange for those who deal in U.S. Dollars.

    Kraken has a 2:1 edge over Bit-x amongst those who deal in Euros:

    Bit-x is the market leader when the British Pound is the currency of choice:

    And OKCoin is the largest exchange for the Chinese Yuan and by far the largest exchange overall.

    Oddly, the movement in July was only a fraction of what took place in March, when days of 5-6 million Bitcoins being traded were common in the global Bitcoin market. During that time, there were some fresh government capital controls implemented by China that caused a major shift into Bitcoin during that time.

    What is maybe most surprising is the time after the halving has been the most relaxed and stress-free time of the entire year. There has not been a rush of day traders and miners looking to move out of the currency after all the swarm of speculation before July 10th.

    Finally, if you didn’t already know, Bitcoin has proven to be incredibly popular in China, and the Chinese exchanges control over 95% of the global BTC trading volume. Their relative size is shown in the graph below, with OKCoin and Huobi handling over 88% of all Bitcoin exchange volume between them.

    There seems to have been a massive selloff on Monday morning to start the month of August, but overall, the halving, along with the addition of Segregated Witness to the protocol, look to have gone off without a hitch. The raging Block Size debate from last year never became a real-world issue, except for some noticeable increases in transaction times throughout the Spring.

    Bitcoin has had a lot more obituaries written for it in 2016, with new challenges and some noteworthy additions, but it’s resiliency and inherent solidity have shown through. The halving was the biggest hurdle of 2016 to clear, and it looks like Bitcoin passed that market test with flying colors, and has retained virtually all of its first-half gains. If this track record doesn’t prove that it is a viable long-term investment worthy of true consideration, nothing will, at least for the critics.

    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