1 = 903.39 USD

Bitcoin News

Altcoins News

Within Bitconnect’s Bitcoin Altcoins news section, you’ll find the latest news on new products, features and news items that relates to virtual currency, altcoins and crypto currency. Bitconnect will help you understand the latest virtual currency, altcoins, and crypto currency.




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

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

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

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

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

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

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

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

  • European Union Begins Crackdown on Bitcoin and Altcoins in the name of Fighting Terrorism

    ​The narrative that “terrorism” is a great reason to take everyone’s freedom’s and privacy is being played out in the E.U. on a daily basis. Whether it is women being taught to wear makeup over bruises from immigrant attacks to restrictions on cash and precious metal usage, the E.U. is quickly collapsing into a failing socialist state. As Bitconnect has reported previously, Bitcoin is certainly on the list of nice things the average citizen can’t be trusted with int he region, and even altcoins are under attack by the new E.U. regulations.

     

    The E.U. Council created an official draft last week outlining its position for more stringent EU rules set to prevent “money laundering and terrorist financing.” The draft directive has two main objectives: To prevent the financial system to finance criminal acts is used; the transparency rules should be tightened to prevent money be kept secret on any large scale.

    Using recent “terrorist” events, what some are calling “false flags,” as justification, this draft directive aims to ensure a balanced balance between the need for increased security and the need to protect fundamental rights and economic freedoms. The proposal is part of the Action Plan the Commission to combat the financing of terrorism.

    First on the list is limiting the “risks associated with prepaid cards and virtual currency.” The threshold for determining holders of prepaid cards has been reduced from € 250 to € 150 and the requirements for the review of customers have been extended. Exchange platforms for any and all virtual currencies and providers of electronic purses must comply with their due diligence and conduct customer checks to remove the anonymity of such exchange transactions. This is what they said about cataloging digital currency users:

    “The report shall be accompanied, if necessary, by appropriate proposals, including, where appropriate, with respect to virtual currencies, empowerments to set-up and maintain a central database registering users' identities accessible to FIUs, as well as self-declaration forms for the use of virtual currency users.”

    Of course, a central database can be hacked from the outside, or surveillance from the inside, which is safety features of Bitcoin and other digital currencies users are trying by being decentralized in practice, but this of course if of no concern to the E.U. Council or Commission.

    European Union Member States have 12 months to transpose the directive into national legislation. However, longer deadlines (24 or 36 months) apply to the implementation of the various provisions relating to the registers of economic owners.

    One of the many flaws in this pending legislation is that it has been proven that Bitcoin is not a source of terrorist funding. The HM Treasury in Great Britain spent 2015 doing an exhaustive review of all the sources of terrorism funding and Bitcoin came in at the bottom of the list, with cash and bank transfers being the primary sources. For details on this U.K. study on the matter,click here.

    The E.U. legislators have clearly not done nearly the research as the HM Treasury, and have provided no information showing Bitcoin to be a source of terrorism financing, but they intimate that it could be used in the future, so the spin is that are basically being proactive.

    Author : Evander Smart

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

  • BitConnect Coin’s Wallet Launch is Here for 2017 and Beyond

    ​​After months of intense testing and technological development, the official BitConnect coin wallet is ready, just in time for the 2017 New Year. This also means that from now on BitConnect’s Industry-exclusive bitcoin lending platform will accept BitConnect coin as the exclusive mode of digital payments.

    Let’s go over the new features that work within the BitConnect platform. Within the BitConnect platform, you can send BitConnect coin (BCC) from send form on the dashboard, no longer having to send actual Bitcoins. We have converted all members funds in BitConnect wallet from a Bitcoin balance to a BitConnect coin balance. The available balance shows now in the BitConnect wallet as BitConnect Coin you hold rather Bitcoin values shown earlier.

    For those looking to use the BitConnect bitcoin lending platform, you are required to have BitConnect Coin, as bitcoins will no longer be accepted for internal lending. The BitConnect coin will become fully tradable after the ICO is completed later this week, on December 31st, 2016. Within 5 days of ICO completion date, BCC will be available for sale on external exchange platforms.

    With the innovations provided by the BitConnect coin, it has made adding new bitcoin users to the BitConnect community easier than ever. With the fastgrowing community of BitConnect coin users, the limited supply of BCC leads to a continuing increase in BitConnect coin value, much like Bitcoin is seeing today. Even distribution of its decentralized value leads to a stronger BitConnect network, in terms of network security and the future value of BitConnect Coin.

    So what can you do with BitConnect Coin? With BitConnect Coin, you can start earning interest by “staking” in the desktop version of the BitConnect wallet. All you need is the download of the desktop wallet and then begin sending BitConnect Coin to start earning interest on it. You are required to have a minimum of 15 days within the desktop wallet to start earning interest without creating send transactions. To know more about how to stake BitConnect coin, click here.

    You can also transfer BCC to other BitConnect members through their BitConnect wallet. Another option is you can sell BitConnect coin in your local currency and bring new members to join the BitConnect community, or you can send BCC to an exchange platform, and trade it with Bitcoin. The BitConnect coin will be available for trade soon during the first week of 2017, but the wallet is available right now, so click here to begin using the BitConnect bitcoin wallet (Available for Windows. OSX and Linux applications coming soon)

    BitConnect is the world’s fastest growing online Bitcoin community, going from unlisted on Alexa to a top 80k website in just six months. Experience the BitConnect difference today and make 2017 your year to BitConnect.

  • Digital Currency Community Alert: OneCoin Scam is On The Move Again

    Here at BitConnect.co, we are all about building and educating the Bitcoin and digital currency community. We want to give you a safe place to learn more about and do more with the world of digital currency. Bitcoin has been a true global success story and we are always going to support the future of digital currency. Unfortunately, there are others who see the growth of Bitcoin as an opportunity to take advantage of people who are new to digital currency, and prey upon their naivete. OneCoin is just such a deceptive group.

    A pyramid scheme wrapped in a crypto-currency shell

    We have gone over what OneCoin is and isn't before, but the people behind the OneCoin scam seem to have started a new membership drive for the fall season. I was personally contacted by one of their operatives on my LinkedIn earlier this week. Before I thought to record his name, he uses some alleged “Dr.” title, I deleted the conversation. He was not a “connection” of mine, and was spamming me with a YouTube video link. I blew this off because a lot of people on LinkedIn want to hit me up to promote their digital currency business and I forgot about it.

    That was until the Swedish Bitcoin Foundation, a non-profit looking to promote the use of Bitcoin and other legitimate digital currencies in te country, put out an alert on OneCoin. This tells me my contact was far from the only initiative fielded around the world. Their communique reads as follows:

    "Bitcoinföreningen draws attention to Onecoin. Onecoin has grown immensely large. But Onecoin is not like the cryptocurrencies compared with, such as Bitcoin. Without an inspectable blockchain, (open-source) and independent venues it is impossible to independently ensure that Onecoin, not a scam or a pyramid scheme. It is thus expected to solely rely on the underlying the declaration. We, therefore, conclude that there is a great risk that Onecoin is a fraud and therefore calls for caution.” - Mats Henricson, chairman of Bitcoinföreningen

    It is imperative that you read our previous alert in the link above, or learn more about it here, as their scam dates back almost two years. Their operatives seem to be making a push recuit more victims,a and there are many people who are new to the digital currency community just within the last six months who may not be aware, so this is for your benefit. Do not “invest” in OneCoin.

    This is a 21st-century digital version of the old Ponzi scheme, and you should stay away from any OneCoin operative contacting you for recruitment. Spread the word. They may periodically prey on people new to the digital currency community, like the thousands of people who have joined BitConnect.co over the last six months, making it the world’s fastest growing Bitcoin communities. If you are one of these people, we will keep you updated with these alerts, as needed.

    Our recommendation: Avoid OneCoin. It is OneScam.

  • Lightning Will Strike Twice - Ethereum’s Lightning Network Raiden Nears Launch

    Bitcoin has a lot of strengths that can become weaknesses. The popularity, investment and the sheer numbers of users is a blessing and a curse. This volume can make the protocol difficult to steer in a better direction, while newer, less burdened altcoins like Ethereum can make changes quickly, on the fly. As Bitcoin gets ready to welcome its efficient “Lightning Network” later this year, it may actually get beaten to the punch by Ethereum’s newest app known as Raiden.

    Will this Lightning bring some thunder back to Ethereum?

    Ethereum’s Lightning Network Raiden Nears LaunchEthereum has had an exciting year, going from less than $1 USD in value to $15 USD in the first few weeks of the year, but it has lost some of its mojo since then. The recent DAO was so bad that it caused a hard fork to correct the damage wrought. Yet, there does seem to be brighter days ahead if the new Raiden concept can be brought to market without a hitch, and it may come as early as this month. Such contract-like apps are easier to establish on Ethereum, which is built around the “smart contract” concept, than Bitcoin, according to Raiden’s creator.

    "In Bitcoin, the scripting language (for a “Lightning Network”) is rather limited so it's way more complicated to set it up,” says Heiko Hees, CEO of Brainbot Technologies, and creator of Raiden told IBTimes UK. “Setting this up on Ethereum is straightforward; any developer can easily understand the smart contract involved.”

    The upcoming Lightning Network for Bitcoin is said to bring many normal Bitcoin transactions off-chain, expanding the flexibility of the transaction flow. Transactions will not have to be done in real-time, if not needed or desired, and transactions can be added to the blockchain at an agreed upon future date.

    Besides removing the resources needed to gain consensus over the transactions veracity, fees will also be virtually eliminated within Lightning, so the upside is unprecedented. Transactions can be as small as one-millionth of a U.S. Dollar Not depending upon the blockchain to process every transaction immediately, and bringing many smaller transactions off-chain, will take the seven transactions per seconds current limit, in Bitcoin’s case, into the hundreds of thousands of transactions per seconds, potentially. Hees’ goal is to prove 100,000 transactions per second is possible for Ethereum’s version, and successful proof of concept trials have already begun and could culminate by the end of this month.

    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

  • Winklevoss Twins and Gemini Acquire Legal Rights to sell Ethereum’s Ether

    The digital currency world has run almost exclusively on the strength of Bitcoin’s supply and demand for over seven years, but times are changing. While an altcoin has had a good month or two, only one has been strong enough to pull market share directly from Bitcoin in any noticeable way. Ethereum has hit the ground running in 2016 to the point where the latest apps and exchanges are looking to integrate their currency known as Ether. The Winklevoss twins have become the first currency exchange in the U.S. to sell Ether under licensed regulation.

    The Tide is High

    Winklevoss Twins and Gemini Acquire Legal RightsEthereum started the year valued at under one U.S. Dollar, but its ability to gain collaboration with Microsoft and others fueled a price spike that passed $15 USD by February before settling at almost $10 USD today. This easily outpaces established altcoins like Litecoin, Dash and Ripple in market value and market cap value to become the number two digital currency to Bitcoin itself.

    Now, with the integration into the Gemini exchange, obtaining Ether is easier than ever, and should help increase its value for speculators, even though the currency is not produced in numbers optimal for investing. Trading with Gemini for Ether will begin promptly at 9:30 AM on Monday morning, in either ETH/ USD or ETH/BTC.

    “When we began building Gemini almost two years ago, we envisioned a platform that would allow customers to trade digital assets in addition to bitcoin,” says Gemini in their official blog post on the agreement. “Over the past six months, ether increasingly became a credible candidate for inclusion on Gemini. The Ethereum protocol’s unique features and the wide range of applications being developed by the Ethereum community, along with increased liquidity and market cap, have made ether an obvious addition to the Gemini trading platform.”

    Ethereum is a peer-to-peer digital currency like Bitcoin, but it is focused on supporting smart contracts, which execute automatically once pre-determined conditions are met by the involved parties. Ethereum went live last July 30th.

    Maybe to undo the damage done by Ben Lawsky and the BitLicense fiasco, governor Andrew Cuomo took the opportunity to highlight New York as a place where technological innovation is welcome. As I have reported on previously, New York does have intent tons of getting its tech mojo back from London and the new tech hubs. This move, with a little revisionist history, could be a first step in the direction of a new image for New York within the tech community.

    “This action continues New York’s long tradition of pioneering new innovations and emerging industries,” said Governor Cuomo in the NYDFS release. “With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience,” New York governor Andrew Cuomo said in a press release.

    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

  • Veritaseum Makes Hedge Fund Trades P2P Via Blockchain; No Banks or Brokers Required

    ​​Veritaseum has enabled a hedge fund to be the first to trade actual traditional capital markets value peer-to-peer through the blockchain, completely circumventing Wall Street banks and brokers and the fees that they entail.

    Veritaseum Makes Hedge Fund Trades P2P Via Blockchain“We were the first to create a fully functional smart contract application for capital markets,” says Veritaseum founder Reggie Middleton. “We were the first to clear such a product through the blockchain, and we’re confident that we were the first to identify distinct intellectual property surrounding this space - over two years ago. We are now quite proud to be the first to announce actual trading of value using blockchain smart contracts by hedge funds, one of the most profitable clients of Wall Street banks, sans the Wall Street banks!”

    Veritaseum’s public blockchain-based value trading platform intelligently replicates the functionality of legacy industry swaps on a fully autonomous basis with greater safety, flexibility and transparency - all at a dramatically lower cost to the fund. Veritaseum smart contracts are essentially without counterparty and credit risk. They clear within minutes, with privacy to the end user, and offer a tradeable universe of over 45,000 tickers in all asset classes across all major geographic bourses. This is done without the end user ever using or coming into contact with a bank or a broker. There is no conventional custodian of assets in a P2P system - including Veritaseum, itself.

    "Of course, like many who are new to this [blockchain] technology, we were skeptical of the claims being made,” says Catalyst Managing Partner Ward Corbett. “After being walked through the Veritaseum’s capabilities, its potential becomes crystal clear to anyone paying attention. We are able to synthetically short European banks with the USDEUR pair or go long Google equity exposure by paying oil exposure. All in all, we can essentially custom design any bespoke exposure we can envision, literally in minutes.”

    Veritaseum is building a consortium of fund clients for trading P2P through the blockchain, similar to how R3 is building a consortium of banks that serve these funds. Bank clients are trading real value through the blockchain, now. The consortium is just getting started, but management plans to onboard 50 funds over the next 90 days.

    "We are solely a software and consulting company and our clients have no balance sheet exposure to us whatsoever,” says Middleton.“We hold no capital-yet we enable all of our clients to become their own investment banks and prime brokers. It’s already a very different world than what the legacy players in this space are accustomed to. The goal of Veritaseum is to ‘Googlify’ the financial sector. Veritaseum is to finance as Google is to media and advertising. We anticipate a bright future for Veritaseum and client-centric(in lieu of bank-centric) blockchain services.”

    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.

    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

  • Altcoin Dash Attacks Own Scalability Problems; Begins Mainstream Approach

    The world of cryptocurrency is much more diverse and creative than most people realize. Ethereal is having its skill set featured early in 2016, and the altcoin known as Dash is also looking to make a move toward mainstream acceptance. Formerly known as Darkcoin, Dash has rebranded and retooled its offering over the last couple of years to generate a less stealthy and more friendly image. Management now feels it is time to step out of the shadows of Bitcoin and start making moves towards better integration with the greater fiat currency market.

    Bitcoin could learn a thing or two from Dash

    For those who may not be aware of Dash and its history, it is the brainchild of developer Evan Duffield, and initially started life as Darkcoin back in January of 2014. Duffield sought to differentiate Darkcoin from Bitcoin by making it much more secure to use, maximizing private, even to a fault. Its “ Darksend " and Masternodes technologies are among the best in the digital currency industry, automatically mixing transactions from throughout the network to protect the identities and balances of Dash users from surveillance.

    Its form of internal governance is also a model of efficiency, relative to Bitcoin. Dash nodes need to be vested in the currency with 1000 Dash. Bitcoin needs no Bitcoin investment other than a way to contain the entire blockchain’s mass on their server to become a node. Each node gets a full vote and can propose new initiatives for the network, instead of everything being left to a group of core developers.

    So Team Dash has been busy over the last two years positioning themselves in the market, and refining their technology and governance. Now it is time to scale up. The problem currently is the same as virtually every other altcoin. If you want to buy Dash, you must buy Bitcoin first and then sell the Bitcoin at an exchange to get Dash. Bitcoin becomes the default global reserve digital currency, like the U.S. Dollar. This is great for Bitcoin’s market value. For Dash, not so great. Dash’s management are looking to build “fiat gateways” that will facilitate Dash purchases from fiat more directly, not through Bitcoin.

    "Its a reality of the market, its the feedback we’ve been getting from people trying to buy Dash,” says Daniel Diaz, Business Developer for Dash tells The Daily Decrypt . “Not being included in these major Bitcoin exchanges is a form of an economic sanction. You are cut out of the economy. So even if people wanted or needed Dash, they couldn’t get it because we have no bridges. The bridges are controlled by specific companies that may or may not be willing to help younger projects like Dash through their growth phase. We’re caught in a Catch-22 situation."

    Therefore, Dash will begin investing in building partnerships, and its own initiatives for more “fiat gateways” like a BitPay merchant processing arm, and better balanced fiat-to-Dash exchange access worldwide throughout 2016 and beyond. Check out the full-length video with The Daily Decrypt below and the dashtalk.org forum website for more information on what is coming up from Dash’s push into the mainstream.

    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

  • Is Ethereum “Bitcoin 2.0?”

    Ethereum is certainly the hottest digital currency property of 2016 for a couple of reasons. Bitcoin’s internal strife, the business world’s fascination with the efficiencies of the blockchain, and the need for a viable altcoin with actual market value are call credible explanations for its meteoric growth this quarter. The New York Times delves deeper into Ethereum’s rise to fame via a piece penned by Nathaniel Popper, author of the book “Digital Gold,” a guide to Bitcoin’s rise to fame.

    Ethereum’s Rise to Fame

    Is Ethereum “Bitcoin 2.0?”Underlying the interest in Ethereum is it’s rise in value this quarter, going from less than $1 USD to over $15 USD at one point. Ethereum is built around the concept of smart contracts and decentralized apps, or DApps. Given the fact that Bitcoin has struggled internally for the last few months with scalability, Litecoin has never found a market, and Dash has not entered the retail market in any way, Ethereum’s skill set has found a receptive market.

    The New York Times Piece goes into how 21-year-old college drop-out Vitalik Buterin created the currency to make binding blockchain based agreements, like Bitcoin, except for the express purpose of exchanging value. The best case they made is the ability to pay off a bet between two parties, where the money would be kept in Ether, Ethereum’s currency, and automatically paid out upon completion of the contest, which is a form of smart contract.

    Problems with Ethereum are considerable. It is even harder to grasp than Bitcoin is. There are already several times the amount of Ether altcoins in existence then will ever be Bitcoins, with now hard cap available, making it a specious investment for consumers. And it has not a retail market for consumers either, so don’t expect to buy computers on Microsoft’s website for Ether anytime soon, which you can still do with Bitcoins.

    Ethereum is very business-friendly if you can integrate blockchain technology into your business models, however. Microsoft has just announced that they are expanding its use of Ethereum blockchains on their Azure platform. Yet, Ethereum is very young and just went public within the last two years. It has not been vetted or tested anywhere near to the extent that Bitcoin has been for security and/or protection from fraudulent smart contracts being created and built into their platform. For business, it seems to have much more appeal than to the average consumer, who can’t use it for retail purposes, or leverage as much raw investment potential as Bitcoin.

    The Daily Decrypt also tried to use it for some payment solutions and were left unsatisfied by the results . In the real-world, it is not the most practical solution for novice consumers and small businesses, in their estimation. With that in mind, there is a lot that is unknown about the long-term viability of Ethereum to the average consumer, best encapsulated by this quote from the Times article .

    "Bitcoin is still probably the safest bet, but Ethereum is certainly No. 2, and some folks will say it is more likely to be around in 10 years,” says Joseph Bonneau, a computer science researcher at Stanford who studies crypto-currencies. “It will depend on if any real markets develop around it. If there is some actual application."

    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

  • Why Ethereum is the Altcoin You Should Get Excited About

    January has never been a strong month for Bitcoin. In January of 2014, Bitcoin’s price tumbled all month in from the collapse of Mt. Gox, January of 2015 saw Bitcoin bottom out at its lowest value since the summer of 2013. This year, Bitcoin lost over 15% of its value and Mike Hearn from the fold. In 2013 and 2014, no other altcoins advanced to fill this market gap, showing their underlying lack of demand. This year, it was different.

    This time, a new altcoin, with its own blockchain, stepped forward and took the market by storm. Ethereum (As the protocol is known. The altcoin is known as Ether) is the hottest property in the digital currency space, and 2016 seems to already be the year of Ethereum. BitConnect looks at what Ethereum is and why you should be excited about the idea of investing in Ethereum.

    The one nobody saw coming

    On Ethereum’s blog , Board of Director’s member Taylor Gerring calls Ethereum “Bitcoin 2.0.” On The Daily Decrypt, Gerring describes the future end game of the protocol as something that can “effectively replace the web as we know it now into a more decentralized version that can’t be controlled or manipulated by any individuals, corporations or governments.” The key word here is decentralization. That is the key to the value of Bitcoin, and the idea behind the inherent value of the Internet.

    The problem is the Internet has become more and more centralized over the years, with Facebook, Google and eBay amassing your user data, selling your information without your consent, or just be strong-armed by nefarious third- parties for it. Your current Internet life is all on a few centralized servers, just waiting to be culled for profit, surveillance, or both. Isn’t there a better way? Ethereum’s developers believe there is.

    The Ethereum concept is relatively new in the cryptocurrency space. The release of the protocol to the public wasn’t until January 25th, 2014 in Miami. The crowd sale that netted over 9000 donations and $18 million USD in Bitcoin, costing a mere $350 USD in fees was July of 2014. They didn’t have a “working network” until last July, and their “stable platform” is coming shortly after their first hard fork called Homestead. Bitcoin can’t even face a hard fork, but Ethereum is attacking growth and progress, not running from it.

    So the last two years have been a study in progress, and now that Bitcoin is an established successful decentralized platform with millions of users worldwide, Ethereum looks set to capitalize upon the landscape built before it. Valued at just $0.95 USD of a Bitcoin on January 1st, it more than doubled in value in the month of January to $2.21 USD. The market rush began to build momentum, and people moved to Ethereum in droves. This only accelerated in early February, as values peaked at $6 USD before falling back to the current $4.30 range.

    Like Bitcoin, the price or the blockchain is not the point

    Yet, as with Bitcoin, it’s not about the price, so you may miss the point. Price is just a reference point of market interest at a given point of time, not the value of the asset itself. The point is Ethereum is looking to revolutionize the consumer app and Internet at the same time. People and companies are building DApps, or decentralized apps, right now for Ethereum just like people were building Skype and twitter for the Internet. This is the Wild West of growth in Ethereum, and a smart investor might want to take a closer look at Ethereum.

    Microsoft Azure is featuring Ethereum right now, if you need a mainstream vote of confidence, but you shouldn’t. What you do need is a vision or just a mild imagination. Imagine an Internet where you have an eBay with no fees, or a Yahoo with no NSA, or a Reddit post where you get paid micropayment for your content. Your post or website can’t be taken down by a government or corporation for any fascist reason under the sun. Your content becomes a part of the entire system, like a drop of rain becomes a part of the ocean, instead of a digital bit on a private server to farm out, or canceled out.

    This is the vision of an Ethereum future. The Internet controlled by the users, not the corporate interests. Sounds more like The Internet 2.0. Who wouldn’t like to see that?

    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