1 = 906.92 USD

Bitcoin News

Bitcoin and Crypto Currency News

Browse latest bitcoin news about new businesses that accepts bitcoin and other cryptocurrencies, blockchain technology, and regulations of bitcoin. We report on latest crypto currency news, prices, talks and new start up related to bitcoin and other crypto currency.




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

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

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

     

     

     

     

     

     

     

     

     

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

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

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

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

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

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

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

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

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

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

    Author : Evander Smart

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

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

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

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

    Who was the driving force behind the film?

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

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

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

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

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

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

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

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

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

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

    Author : Evander Smart

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

  • Bitcoin is the World’s Top Economic Safe Haven of the 21st Century - Proof

    ​​No one has done this before, to my knowledge, so I’ll lay it out there for the world to see, in black and white. Bitcoin is the world’s top economic “safe haven” of the 21st Century, and I’ll provide you with four examples. These examples are from some recent economic crisis that had mainstream investors running for the “Eject Button” on their investment fighter jets, and they have sought to land in Bitcoin over the most recommended precious metals, Silver and Gold.

    Obviously, we can only cite examples from after the “Genesis Block” of Bitcoin on January 3rd, 2009. Feel free to check my math in the links provided, as I will not be using many images. Let us begin with the infamous and inaugural banking “bail-in” in Cyprus, from back in April 2013. This was essentially what put Bitcoin on the mainstream map as an investment option during economic turmoil.

    Keeping the history lessons brief, the “bail-in” of Cyprus reached critical mass in March-April of 2013, where the central and commercial banks conspired to “recapitalize” the banks from the accounts of depositors. This led to a run on little-known Bitcoin, which was trading for less than $35 USD before this unique event occurred in the Meditteranean Sea.

    For any Bitcoin prices during these indicated price periods, please go to BitcoinAverage.com and select “All” from the time field. Bitcoin started March of 2013 trading at around $33 USD, peaked on April 9th of the crisis at over $213 USD and finished April at just under $139 USD. I’d say an over 500% increase in price during this period is indicative of skyrocketing demand and is probably not a coincidence.

    Historical Gold and Silver prices are provided by PMBull.com or silver-and-goldprices.goldprice.org. Gold started the March 2013 at $1572.30 USD and Silver was trading at 28.45. End of March, Gold was trading at 1594.80 USD and Silver at $28.29 USD. So Gold was up less than 0.1% and Silver was down. This would not indicate much interest in March when Bitcoin went from about $33 USD to over $92 USD.

    On the day Bitcoin peaked during the crisis, Gold traded for $1586.20 USD and Silver at $27.87, so both Gold and Silver dropped during the peak of the crisis. I believe that proves Bitcoin was a qualified safe haven ahead of Gold and Silver during this economic event. Let’s move to “Grexit” in the summer of 2015.

    July 2015 typified the Grexit economic crisis and was a big month for Bitcoin trading and price movement, though not as dramatic as Cyprus was in USD values. However, let’s start with Gold prices for the month. Gold started by closing July 1st at $1168.65 USD. It’s highest value for the month was July 6th when it sold for $1173.60, and it finished the month down at $1094.53.

    Silver started July 1st closing the day at $15.57, peaking at $15.74, the same day that Gold peaked and closed the month down at $14.81.

    Bitcoin started the month of July at $260.75 USD, reached a high of $305 on the 12th and finished the 30th at $289.70. So Gold rose less than $5 USD in July, Silver less than a quarter, but Bitcoin rose over 10% for the month, with a peak gain of over 17%. Point #2 made.

    Let’s move to June of this year. The Brexit, where the British Pound dropped to 30-year lows. The Brexit Referendum date was June 23rd, 2016. On June 1st, Bitcoin was trading at $535.17. On the 19th, four days before the vote, Bitcoin reached its high for the year at $758.31, a gain of almost 42%, and it finished the month at $656.19, up almost 23%.

    Gold had gained this month too. It started June at $1213.35 USD, peaked for the month after the vote, on the 27th, indicative of value provided by the event, at $1325.55, a gain of 9.2% at its peak. It ended the month at $1322.18, a total gain of less than 9%.

    Silver started June 1st closing at $15.96 and rose steadily through the month, and into July as well. It closed June 30th at its best price of $18.71, a gain of 17.2%. This was almost twice as much of a gain as Gold, but still well behind Bitcoin for the month and less than half of its peak performance. Third time in a row that Bitcoin beats the precious metals market.

    Finally, let’s check out the election of Donald John Trump as America’s 45th President. We’ll just focus on the 7th of November to the 11th to see how the market reacted form that Monday, the day before the election, through Friday.

    Looking at Gold first is pretty easy. Gold dropped in value all week, from $1280.94 to $1225.85 at Friday’s close. Silver did better than that, but not much better. Silver started the week at $18.22 USD, peaked on Thursday at $18.64 and dropped big of Friday to $17.34. Not much market demand I’d say, given the most powerful man in the world is going to be a reality show star, which might scare market observers just a taste.

    What did Bitcoin do that week? Started the week at $708.85, rose to $724.14 on Thursday the 10th, and finished the week just above $720 USD. Not huge gains, in the 2% range, but easily ahead of Gold and Silver. Again.

    You can dismiss the final trial as statistically insignificant. Bitcoin may have just risen through its natural appreciation curve during that time, and the election may have had no effect at all on Bitcoin. This is possible. I'll take a two-point win over a loss any day.

    The point isn’t to cast shade against precious metals, or to say they have proven to be poor investments. They are excellent holds, in the long term. And to say these markets aren’t controlled and manipulated by major banking interests would be pure ignorance. Bankers have manipulated these markets for years, been caught more than once, and were hardly punished, which incetivizes them to keep on keeping on.

    Gold and silver may really be worth many times more than what they trade for but what can you do about it? The only ones punished were the investors left holding the bag of coins worth much less than they should, namely the minor investors amongst us.

    Unfortunately, a good reason to avoid the precious metals markets may be that you may never really get true value for your money, due to corruption, unlike Bitcoin’s market, which appears to be as free as financial markets get. Sound money at a true market value? What a concept!

    The point is when the chips are down, people are not moving into Gold or Silver. They have proven, time and time again, to head into Bitcoin, and probably make a nice profit on the back-end, with Bitcoin holding its value after the storm has passed.

    These are not opinions. These are Bitcoin value facts. Enjoy the truth of the matter, and have a great weekend!

    Reference:

    http://www.zerohedge.com/news/2016-12-08/deutsche-limplicates-other-banks-silver-gold-scandal

    https://www.bloomberg.com/news/articles/2015-05-20/six-banks-pay-5-8-billion-five-plead-guilty-to-market-rigging

     

    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

  • New Financial Initiative May Kill Bitcoin Within One of World’s Largest Economies

    New Financial Initiative May Kill Bitcoin Within One of World’s Largest Economies Whenever a group of banks works together on a nationwide mission of economic renewal, you’ve got a recipe for trouble, if not an outright disaster. When banks pool their resources and influence together, we’re talking new regulations to protect the collusion that is to come, and regulations to thwart the competition that consumers should benefit from. In other words, if a group of banks has a way for you to start using them more, to help you grow financially, you better check to see if your wallet is still around. I know from my own professional banking experience.

    In the Age of Bitcoin, the banks better come up with something

    Welcome to India, home of the world’s second-largest population , which should become the largest within our lifetimes. Well, over 1 billion people call India home. In India, things are somewhat less sophisticated than they are in Western culture. About four out of five people have a cell phone, but only about one out of two people have a bank account. Sounds like over half a billion economic free agents are in play. Kenya seems downright fiscally responsible, in comparison.

    I bring up Kenya because the banking establishment of India getting ready to roll out a version of an economic tool that has been extremely popular in Kenya, M- Pesa, according to FinExtra. Kenya’s M-Pesa allows people with a cellphone to transact business by phone as if they had a traditional bank account. The National Payments Corporation of India (NPCI) has been tasked with consolidating and integrating the country's various retail payments systems. NPCI is a private company that works for the government, like The Federal Reserve in the United States, that will look to create one electronic platform, with one set of APIs designed to wean India off of cash and onto electronic transactions, making the most of its 900 million mobile phones.

    New Financial Initiative May Kill Bitcoin  Within One of World’s Largest EconomiesThis new UPI will generate a “virtual address” as a payment identifier for sending and collecting money at stores and online, working via a new single-click 2- factor authentication system. Options include scheduling push and pull transactions for various financial deeds, like sharing bills among peers. Customers will be able to have multiple virtual addresses for multiple accounts in various banks and identify themselves merely as their mobile number. Almost thirty Indian banks are committing to this new program, with more to come over time.

    Sounds alright, yes? It sounds like a very good program, that is long overdue, and it is unlikely to get much competition. You see, the problem is this is not good news for Bitcoin’s future in the country, for several reasons. One, Bitcoin is already looked down upon by the country’s regulators. India’s Enforcement Directorate (ED) has already raided two Bitcoins websites and their offices. ED believes that Bitcoins money can be used for “funding terror operations.” There goes that Establishment “Bitcoin funding terrorism” narrative again.

    Next, dozens of banks are working together to bring in more business from the locals through this initiative, and believe me, they will not want any competition from Bitcoin. Why let people be their own bank, for virtually no fees, when you’re building this potential cash cow for hundreds of millions of people? Banks, worldwide, are experts at getting politicians to scratch their back in exchange for campaign financing down the road. This does not create a futile ground for future pro-Bitcoin regulation, you see. Why would the government undermine their own custom economic initiative to further Bitcoin’s entry into India’s market?

    Lastly, who is fighting the fight for Bitcoin in India? Bitcoin does not have the “freedom of speech” legal footing it enjoys in the U.S., nor the interest of the government to capitalize on the technology, like the U.K. looks to provide. Bitcoin in India is a step behind, and the banking establishment has formed a brigade to head it off before it gets a head of steam going in the near future. A wise move.

    Score one for the Indian banking establishment. Bitcoin “to the moon” in India just became that much closer to a rocket that has gone bust on the launch pad.

    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 Progress Report: Venezuela Sees Bitcoin Arrests, Then Bitcoin Demand

    Bitcoin has the potential to create quite a stir where it goes. Most nations have little or no real knowledge about Bitcoin and its economic abilities. Economies that are fundamentally weak have shown a great aversion to a potential competitor like a decentralized global currency. Russia is a clear example, and now Venezuela is joining the list, as the Bitcoin market there has seen large swings in just the past few days.

    The Streisand Effect

    Again, many people and nations throughout the world have very little knowledge or grasp of what Bitcoin is and how it works. Venezuela is a place where it is starting to get an awakening in the art of decentralized currency and this has caused some turbulence. Last week, two local Bitcoin miners were arrested for producing Bitcoins. Joel Augusto Padrón Celis and Jose Eleazar Perales Gonzalez were arrested by the Bolivarian Intelligence Service (Sebin) in Valencia. It is not known yet what law has been broken, and what they are actually charged with, but their four laptops and computer servers were also taken.

    This led to the state-tun media outlet, VTV, or Venezolana de Television, to begin a smear campaign against Bitcoin , stating that "the criminal and terrorist groups in the world are the main activists and defenders of Bitcoin”. Their rhetoric continued:

    "Recently it was learned that many people have begun using Bitcoin as an alternative to evade policies on foreign exchange is driving the Bolivarian Government to ensure proper development of the economy. Who regulates this currency fluctuates? How? (These) are questions that have not yet found answers. What is clear is that its use has a negative effect on the national currency, the use of legal currency and productive economic growth."

    This attempt to demean Bitcoin outright also brought to light the fact that there might be an option for the common man to get some relief from the poorly mismanaged economy in Venezuela. This economy has become rife with inflation that can rise into the hundreds of percent, annually. So Bitcoin has now gotten onto the national radar, thanks to the publicity, creating “The Streisand Effect.”

    For those who don’t know, “The Streisand Effect” comes from the famous singer/ actress Barbara Streisand asked for an aerial picture of her estate not be published, to protect her privacy. Her ensuing public legal battle over the pic generated over 420,000 downloads of the picture from the photographer's website, over just six downloads before the public legal row.

    The Streisand Effect has kicked in for small Venezuelan Bitcoin exchange SurBitcoin, who have since seen unprecedented demand since the VTV hatchet piece. Rodrigo Souza spoke with Diario Bitcoin about the response.

    "Practically we doubled our user base to 90,000 in a week. This, of course, caused us many unexpected problems. A lot of users were angry because we could not verify their accounts. In addition, our bank suspected sudden high volume and blocked our account, which caused even more problems. We were not prepared to receive that amount of press coverage."

    People around the world, in many countries, are looking for relief from poorly managed currencies, inflation, and capital controls on monetary transfers and exchanges of currency. Bitcoin can help these people on a peer-to-peer basis, and stop a decentralized currency, person by person will be difficult. Most countries are not equipped to handle this kind of technological breakthrough.

    A government destroying a country’s economy, from the inside, has many unintended consequences, or Streisand Effects, like new, privately-held currencies being created online. Also, Bitcoin attacks in the state-run press instantly creating a demand for money that cannot be inflated by a government’s mismanagement. The fearful government should have let sleeping dogs. Instead, they may have let the genie out of Venezuela’s bottle.

    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

  • Australia Moves to Support Bitcoin Community; Removes GST Tax

    The world of Bitcoin has been a hectic one in The Land Down Under over the last couple of years. As I reported back at the end of 2014, Australia is one of the world’s most fervent and eager Bitcoin markets, controlling approximately 7% of the world supply. MasterCard has attacked Bitcoin’s growth in Australia to protect their market share. And the nation’s banks have made life particularly difficult for Bitcoin startups to conduct business.

    Now, Bitcoin’s nascent technology has finally found some relief from the attacks of the status quo. The Australian government is removing GST taxes and will move to help build a “competitive environment” for Bitcoin and the burgeoning finch industry.

    Australia is officially stepping forward for Bitcoin

    In December of 2014, Australia made the use of Bitcoin itself subject to GST taxes, creating a “double taxation” effect, given the fact that most purchases already are subject to GST taxes in the country. This update will right that wrong, according to an official statement by the Australian government’s Treasury.

    "The Government recognizes that that the current treatment of digital currency under GST law means that consumers are ‘double taxed’ when using digital currency to buy anything already subject to GST. The Government is committed to addressing the ‘double taxation’ of digital currencies and will work with the industry on legislative options to reform the law relating to GST as it is applied to digital currencies” , the release said.

    Of course, nations will look to attach AML/KYC regulations to the use of the currency to protect them against terrorism. Their new release on the matter even speaks of creating a “regulatory sandbox” to help Bitcoin and finch startups reduce risks, lower costs and gain traction.

    "Removing the ‘double taxation’ treatment for GST on digital currencies and applying adequate anti - money laundering and counter - terrorism financing rules may facilitate further developments or use in the future” , they added.

    As Andreas Antonopoulos and others have said directly to the government of Australia, taking a pro-Bitcoin leadership position can be huge for the country. the citizens have already taken a liking to the financial option, and with China and Japan in the region and familiar with the digital currency, there is a lot of upside to creating a friendly Bitcoin business environment. The treasurer seems to have taken this to heart, after due consideration.

    "As Treasurer, I want to help create an environment for Australia’s FinTech sector where it can be both internationally competitive and play a central role in aiding the positive transformation of our economy”, said Australia’s Treasurer Scott Morrison.

    This splash of good news in the region dovetails nicely with the ruling in Japan to treat Bitcoin as a standard currency , not an economic scourge. With broader government support, this should help Bitcoin adoption grow, along with business innovation and investment. The market seems ready to invest in a growing market segment over the next 10-15 years rather than fear a short-term market adjustment towards a new global technology. Score another one for Bitcoin.

    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

  • Japanese Cabinet Approves Bitcoin as Money

    Japanese Cabinet Approves Bitcoin as Money Since 2014, I have been reporting on Japan’s interest in Bitcoin becoming a growing part of their economic culture. Even after the fall of Mt. Gox, the Japanese have tried to make themselves one of the world’s most Bitcoin-friendly places in the world. It turns out they were very serious about their claims regarding “The Future of Money.” While other countries are starting to consider their own versions of Bitcoin, Japan’s Cabinet has decided to legally welcome Bitcoin into their countries basket of approved currencies.

    If you can’t beat ‘em.....

    Australia and China are working on their own digital currency, another vote of confidence and appreciation for the value and innovation Bitcoin brings to the economic world. Tunisia has recently put their national currency on a blockchain in digital form, beating the much larger countries to the punch. According to Nikkei, Japan has elected to welcome the original decentralized digital currency to the country, instead of building their own version of it.

    "The latest bills on virtual currencies recognize them as asset-like values that can be used in making payments and be transferred digitally,” says the Nikkei Asian Review . ”Regulations on the virtual currencies were prompted after the Financial Action Task Force called for them in a report last year. The task force is an international body on countering money laundering and terrorist financing."

    One would think that the negative publicity from the collapse of the world’s largest Bitcoin exchange Mt. Gox, based in Japan, in early 2014 would turn the Japanese government against Bitcoin, but it has done the opposite. The issue led to them approving a Bitcoin community-based regulatory body called JADA (Japan Authority of Digital Asset) to begin governing usage standards and codes of conduct for Bitcoin use , domestically.

    Regulations will require Bitcoin exchanges to adopt established KYC/AML standards used in other nations. Banks will be able to enter the burgeoning “Fintech” industry for future gains and asset management. Preventing new forms of money laundering and consumer protection will also be goals in 2016. It is unknown at this time if things like taxes will be payable in Bitcoin, but it would be hard to see why they would not, at some point in the future.

    These regulations and will be made public in the coming months. Bitconnect.co will discuss these changes in detail with Kagayaki Kawabata of Japan’s largest Bitcoin exchange, coincheck.jp, in an exclusive report, later this week. Check in daily with bitconnect.co as we bring you the latest breaking Bitcoin news.

    Image provided by thetimes.co.uk

    What do you think of Japan’s move? Will it inspire other countries to be more accepting of Bitcoin’s value? Share and comment below.

    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