1 BTC () = $1192.9 | 1 BCC = $0.8136

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.




  • China’s National Digital Currency: A Closer Look At This Game-Changer

    ​​​​​Look at which way the wind is shifting. With Bitcoin proving to be a global technological success, it will only have a few years jump on the greater economic markets. The nation-states are ready to catch up, and China, potentially the world’s largest economy, has been working to create a national digital currency system at warp speed. Its coming arrival looms over China, but what does it mean?

    No other monetary system will have this level of speed and economic power. The Chinese Yuan has far greater reach and value than the Indian Rupee, which is also going through a national currency revolution of its own. Yet, China seems to have planned this out far better and is about ready to release a national blockchain-based Bitcoin knock-off, without the daily appreciation in value.

    China has already worked to put their entire social security system on a blockchain, so they know how to create these systems at the massive scale they need. The People’s Bank of China released the broad strokes of how it would work last year. Here are some of the more important points of contact:

    • The PBOC creates cryptocurrency and transfers it to commercial banks when more liquidity is needed
    • Consumers would top up digital currency from modified automated teller machines or from bank tellers and store it in a crypto wallet on their mobile phone or another device
    • For purchases, consumers wire from their person wallet to the merchant’s account
    • The merchant deposits the cryptocurrency into their commercial bank account

    "Cutting costs is an obvious benefit, but the impact of shifting to blockchainbased digital money from the current payment structure goes beyond that," said Larry Cao, director of content at the CFA Institute in Hong Kong to Bloomberg. "There’s potential you can pay anybody in the system, any bank, and any merchant directly. Blockchain will change the whole infrastructure. This is revolutionary."

    It is hard for China to really hide the real reason they have gone from just talking about creating a national digital currency one year ago to already testing it in 2017. The size of this project is daunting, and the fact that they are doing trials of it shows how much of a priority this is. “Capital flight” out of China is the genesis of this economic revolution, and once this is in place, controlling every citizen’s ability to do an economic transaction becomes not on easy, but educational.

    “The transparency of economic activities in every corner of the country will significantly improve," said Duan Xinxing, vice president of Beijing-based OKCoin Co. "The central bank will have unprecedented knowledge of how the economy runs. Talking about the impact of digital money now is like trying to predict how the Internet would transform lives in the 1980s. We know it’s going to be huge. It has the potential to change the entire economic infrastructure. We’re just not sure about when and how."

    As I have gone over before, all the digital currency that glitters in cyberspace is not Bitcoin. The average citizen may gain some extra convenience and lower costs over using third-party payment systems, but they will pay far more, in the long run. Now that the world’s two largest populations are going to force their nations into a digital economic surveillance state, how do you have before your financial life is entered into a state-run server for a lifetime of ‘Big Brother’s’ monitoring?

    "How long before your personal economic life" is just another meal of surveillance on your government's daily menu? The leaders of your government will come before the people of your country saying this is to serve you better, much like they did in an old 'Twilight Zone' episode. It will sound just wonderful, only once you discover the truth of the matter, it is too late for you to be saved.

    "'To serve man.....it's a......it's a COOKBOOK!'"

    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 Price Sets New 2017 High; All-Time Value Mark Nears

    ​After another turbulent January that had even the most faithful shaken about Bitcoin’s future, the February rally has rekindled the greater community. A January roller-coaster has become a February value rocket, as the Bitcoin price has set a new high-water mark for 2017, as it closes in on a new all-time record, according to the CoinDesk Bitcoin Price Index (XBP).

    As a brief recap, Bitcoin started the year on a high, making a furious run at $1000 in value as 2016 closed. The first week of 2017 remained on this bull-run, peaking at almost $1130 USD, but Chinese regulators began the new year cracking down on exchanges and their no-fee trading practices. The market crashed to as low as $775 USD exactly one week later, and Bitcoin has been on the rebound ever since.

    This latest run from just under $1000 USD last week to a new 2017 this week seems rooted in the upcoming speculation on the ETF fielded by The Winklevoss Twins, which is due for a decision on March 11th. According to MarketWatch, even though the odds of an approval are long against the ETF, the fact that there are more than one in the pipeline seems to give investors enough hope of an approval to start buying in.

    A few weeks ago, Grayscale, which launched the Bitcoin Investment Trust in 2013, filed for an initial public offering that would allow its trust to trade as an ETF on the New York Stock Exchange. The Grayscale bitcoin trust is presently one of the few registered investment vehicles available to financial institutions. A company known as SolidX has also filed for a bitcoin ETF.

    The previous high in early January was the highest the Bitcoin had been since the bubble that was Mt. Gox in early December of 2013, when values reached over $1180 USD, according to BitcoinAverage.com, who has been tracking Bitcoin’s price since 2010. Now that Bitcoin is within shouting distance, the way things are going, it seems assured that the all-time mark will be set before March 11th, as Bitcoin has gained what would be needed, just over $50 USD, in the last 48 hours.

    The global Bitcoin market seems to be healthier than ever before, with less centralization in exchange trading. By currency, Japan has taken control of Bitcoin’s market with over 50% of the purchases done in Japanese Yen. This seems related to their advocacy of the no-fee trade policy that gained China control of the market.

    This leads to many trades that are less than legitimate and encourages traders to trade against themselves to lower exchange costs. However, the mainstream market in Japan is accepting Bitcoin use more and more. There is also more and more Bitcoin legislation in Japan, but that is also not as positive a development as it may seem.

    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

  • India Establishment Refuses To Legitimize Bitcoin

    Living in India has been pretty hectic, one would imagine, over the last ninety days as the country’s establishment has forced the populace to go from cash to digital payments virtually overnight. Bitcoin has been thrust into the limelight as well, commanding premiums as high as 35% ever since, as the nation looks for reliable economic options. Where does India go from here with Bitcoin?

    According to The Telegraph of India, the Indian government has rejected the idea of a separate regulator for digital money, and the new digital monetary segment of finance will be under the broad purvue of the Reserve Bank of India (RBI.) It will set up a Payments Regulatory Board headed by the RBI governor to handle digital payment gateways. Officials said a separate regulator would have led to multiple financial regulators.

    "Globally the trend is towards unified regulators and the RBI is a strong institution, hence the government chose to go with it," Indian officials said.

    Attempts by Bitcoin players to come under the ambit of the new body are unlikely to succeed as the government and the RBI are not in favor of legitimizing bitcoins as legal tender. Bitcoin players in the country, which include Zebpay, Unocoin, Coinsecure and Searchtrade, have recently formed a Virtual Currency Association of India, which has started lobbying the government to allow bitcoin trading.

    However, the RBI has taken a strong stand against virtual currencies such as bitcoins pointing out that it has not issued any license or authorisation for trade in them. Officials said the amendments they were working on would try to bring parity between physical cash and digital transactions along with interoperability and access to a unified payment infrastructure.

    The government has been trying to push digital payments ever since it banned old Rs 500 and Rs 1000 notes on November 8, which constituted some 86 percent of the country's currency by value, hoping to push more transactions towards being digital to monitor transactions. Government data show that between November 8, when demonetization was announced, and December end mobile payment transactions in volume terms rose a whopping 5000 percent.

    Indian tax experts say that the push towards digital money did not mean the end of black money. It is possible to generate and transfer black money or untaxed money even through the digital mode. Besides, cash deals do not necessarily mean untaxed transactions. However, the thinking within the government appears to equal cash with untaxed or "dirty" money, while digital transactions are likely to be "clean" transactions.

    "I want to tell my small merchant brothers and sisters, this is the chance for you to enter the digital world," India’s prime Minister Narendra Modi said. "It's correct that a 100 percent cashless society is not possible. But why don't we make a beginning for a less-cash society in India? We can gradually move from a less-cash society to a cashless society.

    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

  • Venezuela Sets Bitcoin Trading Records Even as Top Exchange Closes

    Due to the closure of its bank account, the Venezuelan exchange is forced to suspend its services in local currency. SurBitcoin hopes to resume activities within two weeks, during which time it will focus on improving their security measures. The exchange recommends the immediate withdrawal of funds in bolivars, according to DiarioBitcoin in Venezuela.

    SurBitcoin notified its users that they felt obliged to suspend its activities in local currency from Friday, February 3. The measure is due to a notice of Banesco in which he was informed that the exchange house bank account would be closed, so this may not trade in bolivars: or withdrawals or deposits.

    Despite the arrests miners and due to the partial closure of operations in the main exchange SurBitcoin , the service person to person has had an unprecedented volume of transactions almost double what was exchanged in December.

    Enthusiasts Bitcoin who buy and sell in Venezuela apparently are not afraid of the latest news that have cast doubt on the stability of the cryptocurrency in that country. The week just passed through Localbitcoins the largest number of operations performed in its history, if they are calculated in bolivars. 1.12 billion bolivars (approximately US $ 337,044, depending on the parallel market price) were exchanged.

    The previous week (the last of January) had traded for 744 million bolivars. In fact, it is the first time the number of operations exceeds the billion bolivars . The number of bitcoins exchanged was 359 bitcoins, when the last week of January fell from 252 hands bitcoins. It grows and grows.

    It is striking that such a volume of operations is taking place despite the climate of uncertainty that has woven with respect to the legality of the currency in the country. Although no government official has made an official statement on the cryptonnet, during the last two weeks of January several operations were carried out to stop the mining activity.

    First, on 26 January, four people were mining Bitcoin were seized in Charallave , Miranda state. Then two days later, it was dismantled one Bitcoin mine in Carabobo state , which had 11,000 teams (two people were arrested) and last week in Caracas police arrested two people for selling mining equipment Bitcoin through website Mercado Libre. Despite this series of arrests, at no time have been affected the buyers and sellers of the criptomoneda. In an article, Journal Bitcoin explained that the sale was still safe in Venezuela .

    However, last week happened a fact that surely made many people to migrate Localbitcoins . The bank Banesco, one of the most important , closed the account Surbitcoin , the country's largest exchange, which prevented the exchange operations in bolivars as of February 3. The same Surbitcoin alerted users about what was happening and recommended them to use the service person to person Localbitcoins if they were in the need to exchange currencies.

    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 Mentioned For First Time Ever During The Super Bowl

    There was a time, not all that long ago, when Bitcoin being mentioned in any mainstream print ad was a reason for the entire Bitcoin community to rejoice. Today, mainstream mentions in the New York Times, Wall Street Journal, and any cable investment show are common place. Reaching the Super Bowl audience, however, is hallowed ground and yesterday marked the first-ever mention of Bitcoin during the most-watched televised event in the United States.

    Sunday’s Super Bowl LI (#51) ad was produced by Wealthsimple, a new investment firm with headquarters on Richmond Street in Toronto and Crosby Street in downtown Manhattan, New York City. It was a one-minute ad played just before halftime, centered around a man who seemed to be overwhelmed by the concept of beginning his investment career.

    His friends, acquaintances, and television investment experts are all yelling at him different pieces of advice. At about the thirty-seven-second mark, a woman yells into her smartphone, at him apparently, “Bitcoin!” after a TV guru said, “You should be in commodities!” Someone else said “Annuities!,” then the lady says “Bitcoin!,” followed by a man in the gym saying “Bonds!”

    The point is over 100 million households watched Bitcoin being favorably compared to the most-used and accepted investment options in America, if not the world, a first for Bitcoin. Bitpay released this commercial back in 2014 to promote their services and the ad was seen on ESPN and during the first-andonly “Bitcoin Bowl” back in December 26th, 2014, which I reported on at the time.

    It does not appear that Wealthsimple has any direct affiliation with Bitcoin, as Bitcoin is not mentioned on their site in any way. If you would like to see the ad, it is embedded below. It has been viewed on YouTube over 2.2 million times, but the ad has been posted for almost a month, and the has been commonly seen on Canadian television.

    The Super Bowl is among the most watched programs in the world, and is the most-watched program in the United States, as last year over 112 million people watched Super Bowl XL. However, there are other sporting events that are watched much more. For example, the 2014 FIFA World Cup Final between Germany and Argentina, was watched by over 900 million people.

    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 Tests National Digital Currency; How it Could Cripple Bitcoin’s Future - Part Duex

    ​Last week, in Part One of this article, I went over how this recent national digital currency test by China, just eleven months after they spoke of creating their own national digital currency, can spell doom for true innovations, like Bitcoin. Why would nations like China want to actually compete with innovative, open-source, appreciate assets like Bitcoin when they can control their entire market and capture their citizens through regulation?

    Ok, so it wasn’t the most uplifting article I’ve ever written, but I’m just keeping it “one-hundred.” Life in the Bitcoin community is certainly not all lollipops and rainbows. However, today I did promise that there is another side to this coin that would turn that frown upside-down. So let’s look at some ways where this turn of events could work towards Bitcoin’s advantage in the years to come.

    First, one of the main advantages is this transition by nation-states towards digital currencies greases the skids for people to more easily go from fiat currency to digital currencies. Right now, it is not as easy as it could be, and when nations get behind the digital currency revolution, this will create new avenues for funding of apps, businesses, and networks that will make the transition much more seamless and convenient.

    Once going digital becomes convenient, it will be quickly accepted by the masses. Once the masses accept the concept of fully digital currencies, like Bitcoin, we would then be in a version of Hayek's free market monetary system. Bitcoin would gain acceptance by the mainstream just by economic osmosis. There will be wallets and apps that will allow you to trade and exchange digital Chinese Yuan for BTC and ETH, and the credence in the digital realm provided by The State adopting it will reflect well on the original Bitcoin concept.

    The proletariat will see the national currency, but just out of curiosity, Bitcoin and its altcoin friends will get some attention, and a competitive market will establish itself, and Bitcoin will show its superiority, at that point.

    Also, as cash becomes more and more of an endangered, outlawed species, people will have to put these unwanted bills into something. The recent demonetization in India has shown that people will put those bills into Bitcoin when faced with a digital currency future, and that is a wise move. So if you don’t trust your government’s central planning designs on your economic future, you can always find a home in the original, decentralized digital currency, and grow your wealth for years to come, instead of investing in a depreciating national asset class.

    Keep in mind that Bitcoin has gone through whatever growing pains it has had over the last eight years, which have been more a matter of perception rather than reality-based. Bitcoin and its blockchain technology have worked incredibly well, for a brand new, grassroots global currency controlled by no one in particular. Do you really think that China, or any nation, will handle their national economy as deftly? When there are problems, do you think that people will not use Bitcoin as a shelter for their economic welfare?

    This has been done time and time again over the last four years since the banking “bail-in” in Cyrus back in April of 2013. Bitcoin has proven to the market, several times, masses, investing in Bitcoin is not only a wise investment but a safe one. So when the PBOC and its underlings make a critical misstep, Bitcoin will be the one who benefits, from a quick tap on the citizen’s smartphones. Jaxx smartphone wallets and others that haven’t been created yet will be there to swap any digital currency for another, all within one multi-currency wallet app.

    Let’s say China successfully creates some sort of online firewall ban against Bitcoin. They are successfully limiting Internet use, so let’s assume they can limit Bitcoin use, as well. This will only move miners, users and businesses out of China and into other markets that would be more open to changes like larger block sizes, Segregated Witness and The Lightning Network. So the back-end of Bitcoin’s protocol can also see some upgrades from any regulatory issues in China.

    Finally, what happens when, not if China goes through their “Great Depression” they are in line for? You don’t think China is going digital currency because they see prosperous economic times ahead, do you? Chinese investors know this market is heading for the squat toilet, and so does the PBOC and the Chinese government. The question is who will be ready to handle the fall?

    If the government and banks cut off the mainstream market from protecting themselves, this will just create a larger, more varied and smarter Bitcoin black market. With 1.4 Billion people, that’s one hell of a market to try and stop. The end of the year Bitcoin closeout and New Year’s buyers rush will turn into a tsunami, getting bigger, year after year, so expect Bitcoin values to increase at an almost geometric rate, just based on the folly that is this impending crash in China.

    China can only control over one billion people’s economic future’s so much. Even their totalitarian regime has limits in what they can do to stop people from protecting their economic future from their missteps and malfeasance.

    Either Bitcoin will adapt, spread overseas, or go underground in that region. China’s folly may make India the next great Bitcoin trading post, the way things are going. India seems very receptive to the Bitcoin concept and may be less equipped to slow its mainstream adoption.

    If Bitcoin has proven anything over the years, it has proven that it can’t be wished into the cornfields by a government or anybody else. The only real question is who is sharp enough to pick up Bitcoin and run with it. Who will figure out how to embrace this growing avalanche of economic empowerment and monetize it? Bitcoin is not a problem that needs to be solved. It’s just another Internet that needs to be grown. And grow it will.

    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 Tests National Digital Currency; How it Could Cripple Bitcoin’s Future-Part 1

    While the nations of the world are busy trying to regulate, tax, and dismiss the revolutionary innovation that the digital currency Bitcoin has provided the world, they’re also plotting and scheming. The world’s largest nations, banks, and corporations are using Bitcoin and its blockchain technology as a blueprint to raise their business models to the next level. This could mean disastrous things for Bitcoin, in the future, under one scenario.

    One way this could go down

    You may have heard the news yesterday that China successfully tested their own version of Bitcoin, pursuant to their own national digital currency, last month. Here are more details if you need an update on where this stands. I have known about China’s plans for a national digital currency since last January, when they announced it on their website, and had a meeting with Citibank and Deloitte about creating it. I have written about this before at BitConnect.

    China almost needs a national digital currency, post haste, and here’s why. Simply, investors, speculators, and businesses are moving their money out of China, as their economy exits their boom market. The PBOC (People’s Bank of China, their national central bank) and the government are seeing great “capital flight,” and do not like it, and want it to stop. Many are using Bitcoin to execute these financial moves, as well because it is a superior, flexible form of money when it comes to speed and mobility, globally, plus it appreciates in value.

    So China has fast-tracked this national currency project and said they would at that meeting one year ago. The United States, Australia, Canada, the United Kingdom and many other nations have either discussed this future changeover. It is only a matter of when, not if, this happens in most major countries, so this is not just about China. Here’s why.

    The world will go digital currency for the same reason China puts their system in, first. Control. With a closed-network, central-bank controlled digital currency, it can solve a lot of problems the nation has created and the nation perceives as problems, going forward. It won’t be 10% of the digital currency value that Bitcoin is today, but it would be a great panacea for all of the state-managed ills. Here are just a few.

    You can make as much currency as you want, limiting the effects of inflation. A digital currency doesn’t cost anything to print. It will need some cybersecurity, which nations and banks are struggling to handle, as we speak, but it will be much less expensive than safes and vaults and security teams and guns. Plus, you can monitor all transactions and people can’t leave your closed network with the national funds. Basically, The People rent out the national currency, and The State reserves the right to change the locks on you, for any reason, at any time.

    This is the main reason. Every dollar, or Yen, or Yuan, is yours, and The People really have no money. The government and bank can co=opt the entire system, and decide who has money, who doesn’t, where they can use it, and produce mass surveillance over all transactions, in perpetuity.

    This is a great system for control. Great system for surveillance. Every transaction you ever do, in this dystopian future, will be monitored, recorded, analyzed, and stored on a server that will either be monitored by The State, or hacked by a cybercriminal, Either way, you lose.

    Unless……you work outside of their box and use a superior digital currency alternative, like Bitcoin. Which creates a problem for Bitcoin and its users.

    Will you become an Enemy of the State?

    This kind of makes you an enemy of the state, by default. The State can turn around and criminalize Bitcoin, or any altcoin that is not provided by The State, once they have their national closed-network system in place. They can attack exchanges, and make Bitcoin so hard to exchange and buy, through the laws they create and the regulations they levy, that Bitcoin could be rendered an outlaw.

    Think cigarettes versus marijuana. Marijuana is really a superior cigarette. It has actual medicinal benefits, and has for hundreds of years, unlike cigarettes, which has just killed hundreds of thousands of people over the years and has never helped anyone. Like Bitcoin, 100 years ago or so, marijuana was seen as a cure-all for the ills of the day.

    Before there were aspirin and penicillin, people used cannabis to resolve aches and pains and maladies, before it was criminalized, in Western culture anyway. I’m sure that corporations like the Bayers and Phillip Morris of the time had nothing to do with this.

    The problem for marijuana was it was not sanctioned by The State, it is not taxed effectively by The State, and it is not produced by the fascist corporations of The State, so if you are seen using or selling marijuana, in certain countries, you may be in a lot of trouble with The State. No one was able to fight to protect a plant from being branded a criminal.

    So why not take this market from the plant, even legalize a small amount of the plants use in your newly-approved corporate drug to make the new drug nice and addictive, and go forward with a backdoor deal, a kickback, and some new regs to prevent competition. Everybody is happy, except for the black kid in Michigan who gets 20 years for violating a “Rockefeller Law”

    Marijuana 2.0

    Bitcoin may end up becoming the marijuana of the 21st century. First, all of these states may make it a little tougher to use, via regulation, year after year. Make taxes for it nice and difficult, or nice and high, or both. Then, begin to slowly phase in criminalizing it, while copying its technology, making your own version, without 90% of the benefits. Your new national digital currency will have one thing Bitcoin may not have, in comparison. Convenience.

    You can pay your taxes by smartphone. The store up the street will accept the national digital currency, but The State’s regulations on anything else will be so extensive, Bitcoin will not be widely accepted. People will use Bitcoin just like they use marijuana, in the shadows, behind closed doors, and with a dark cloud over their head, as they fight a silent battle against The State’s monopoly on transmitting value.

    Call me a conspiracy theorist. I hope this dystopia does not come to fruition, but my charge is to consider all of the possible outcomes, report them to the greater Bitcoin community, and maybe have a discussion on how to protect Bitcoin’s future. Bitcoin can’t be beaten by a hacker or even a “51% attack.” The State has the best chance of defeating Bitcoin by making a Bitcoin-lite that helps the banks and the government, and makes the common man’s life just that little bit easier, but regulates Bitcoin into the cornfields and dark alleys of the world.

    That card is on the table, and probably will always be on the table. Let’s at least recognize it and work together to plan a way to avoid that card being turned over.

    As good as marijuana may be, the world really doesn’t use it, at scale, because its just not worth the hastle. Bitcoin is on that road. The road to regulatory ruin.

    Part 2 is coming Monday, showing you how Bitcoin can actually live happily ever after

    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

  • 5blockchain applications in Fintech. IBM leading engineer will speak at Tallinn conference

    Wide blockchain application is leading to establishing new business models that will be used not only by corporations but also by small market players. Karolina Marzantowicz, a leading engineer of Polish IBM office, is convinced of this fact. On March 9, 2017, she will present company’s opinion regarding the future of blockchain technologies at Blockchain&BitcoinConferenceTallinn.

    Karolina Marzantowicz is a permanent speaker at the major blockchain conferences. This time, she will dedicate her presentation to five options of applying blockchain in the fintech sector. Conference participants will learn about the most successful projects implemented in 2016.

    The Fintech industry has been chosen, because according to the September report of the World Economic Forum, finances will be the first area of blockchain mass application.

    We would like to remind that IBM is actively examining blockchain technology. According to recent reports, the company along with the US government has launched the project on transferring medical data in the block chain. The January report of Transparency Market Research shows that IBM is included into the top 3 biggest blockchain players of the world.

    Tickets to the conference, involving IBM representative, are available on Blockchain&Bitcoin Conference Tallinn website.

    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 Exchanges See Massive Drop in Trade Volume After New Fees

    ​The Bitcoin business world has been controlled by the Chinese market over the last three years, but there is a caveat. The massive volumes put forth by Bitcoin exchanges, BTCC, Huobi and OkCoin have not exactly been on the up-and-up. No-fee trading policies have inflated numbers dramatically, and national financial regulators have come in to begin a more legitimate system. The results have been significant in recent days.

    High-speed, automated traders have made Chinese exchanges their method of choice due to the lack of any real cost to manipulate these systems. The trading volume is done mostly to lower the costs of withdrawing funds, but when over 90% of the world’s trades are happening in just three exchanges, someone has to police the system that wasn’t doing a good job of policing itself.

    Now that the regulators in China and the exchange's top executives have gotten together and made some working revisions that include trading fees, the trading volumes are now vastly different than they were just a week or two ago.

    “One-hour volume at OkCoin fell 89 percent to 1,026 bitcoins at 1 p.m. local time, from 10,062 during the same period on Monday, according to the venue’s website,” says Gary Gao of Bloomberg Business. “Huobi and BTC China saw declines of 92 percent and 82 percent respectively. Prices were little changed, at around 6,350 yuan per bitcoin.”

    These changes can do a lot of good for the greater Bitcoin community. This may lead to less drastic price swings and less volatility. Investors overseas may see the industry as less centralized and move more capital into the market, now that the volumes are not so manipulated or concentrated. Also, fewer speculators and a better cross-section of actual users will be represented by the volumes.

    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, says Neil Woodfine, COO of Remitsy, and a local Bitcoin businessman in Beijing. 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.

    These changes may be having an effect on Bitcoin’s price, as Bitcoin fell 2-3% on Tuesday, heading back under $900 USD as of this writing. After a massive bubble to start the year, Bitcoin is down about 6% so far in 2017.

    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

  • Pyramid Scheme MMM Moving to Bitcoin For Security Reasons

    ​If you are an online criminal, a shady operator, it must be getting more and more difficult to capitalize on your crimes. Many nations are beginning to regulate Bitcoin exchanges as the rule of law is beginning to accept that a new form of money has been created. This seems to have influenced the online scam known as MMM, who has started 2017 moving their operations to Bitcoin’s digital currency, according to sources.

    The MMM Ponzi scheme, which stands for Mavrodi Mundial Moneybox is a monetary scheme that dates back to 1989 and was create in Russia by Sergei Mavrodi. It has been admitted to be a pyramid scheme by Mavrodi, who has served years in a Russian penal colony for his crimes in Russia. Versions of this financial scam have been seen in India, Great Britain, and South Africa. Over the last few months, it has popped up in Nigeria and is growing.

    It has grown enough that the Central Bank of Nigeria has had to issue a warning against using Bitcoin, which is being promoted as the investment vehicle for MMM in Nigeria.

    The reason CBN came out loud and clear was when MMM was about to burst they were now offering high interest rates for people who will go digital, according to the Managing Director of the Nigeria Inter Bank Settlement System Ade Shonubi.

    The problem is this is creating a public relations nightmare for Bitcoin, which is caught in the legal crossfire for its capability to be used for good, or such illegal purposes. It is a very odd vehicle to use, given it is traded on a public blockchain. Many criminals using Bitcoin this way have been caught by investigators in Western society, but it may have started to flourish in Nigeria in order to take advantage of the lack of tech savvy in this market by users and law enforcement alike, as Shonubi explosives in his commentary on the situation.

    “Once you buy cryptocurrency, you cannot trace where it is going. It was a means to take money out in case CBN wants to start looking at who is taking the naira. They are offering people more interest and once people change from naira to cryptocurrency, you cannot find those guys. You can’t trace them."

    These issues can have long-term ramifications for Bitcoin acceptance in Nigeria, as this is many people’s first exposure to the currency, and this scam will fall apart, eventually. People may end up associating Bitcoin with crime or a scam, and this will give ammunition forthe cnetral bank to denigrate or ban Bitcoin use in the future. Looks like a bad mix of digital currency ignorance and leverage from the cnetral bank may spell dark days in Nigeria’s Bitcoin future.

    MMM may have been debunked and decoded in other nations, but it looks like it has a brand new bag in Africa, where digital currency is new and online communications on MMM history seem to be non-existent. Until law enforcement catches up with the methods successfully used elsewhere to stop MMM, it will be a long year of negative press for Bitcoin in Nigeria.

    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