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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.




  • Bitcoin Exchanges in China Change Trading Rules After Regulator Visit

    ​he world of Bitcoin is a new, exciting, and largely unregulated place. This has its pros and cons, but the recent bubble bursting earlier this month caused quite a stir in China, where the lion’s share of the world’s Bitcoin trading takes place. The issues uncovered were enough to draw regulators into the top three Bitcoin exchanges in the world, and this, in turn, has driven these exchanges to alter they way they will do their Bitcoin business transactions in 2017.

    The end of a Golden Era in Bitcoin Trading

    In China, these massive exchanges have made their volumes explode due to their no-fee trading policies. This has attracted new business and has forced a fierce competition for that no-fee business. This has also led to inflated volume trading numbers, as many of these trade made were account owners trading to themselves to drive down their withdrawal fees, the way the exchanges actually earn an income in this business model.

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

    Problem was that the sheer number of trades attempting to take place when Bitcoin was dropping fast prevented many from accessing their funds and protecting their digital wealth. We reported that some changes were likely to come after this calamity, and some consumer complaints, some discussions with regulators and some internal meetings generated the following policy changes. These will take effect in all three major Chinese exchanges, BTCC, Huobi, and OKCoin, starting tomorrow. Here’s the message on OKCoin’s News page.

    In order to curb speculation and prevent price volatility, currency OKCoin line will take effect January 24, 2017, 12:00 start charging transaction fees, specific adjustments are as follows: 1. Transaction fees according to a fixed proportion collect, sell the yuan, to buy or collect bitcoin, litecoin; 2. active and passive auction turnover rates; 3. service fee charged by a fixed rate of 0.2% of turnover.

    A similar message can be seen on the other exchange’s blogs, news pages, or Twitter feeds. This should reveal the true trading volume of each, and rebalance the market, somewhat. Interestingly, the London’s Coinfloor announced this weekend that they are going to a no-fee trading strategy, effective immediately, obviously to fill this market void and attract a new level of volume from traders around the world.

    So no shortage of major changes in major markets, with Donald Trump getting inaugurated on Friday, Chinese exchanges and their regulators changing their trading practices and Coinfloor looking to become a global force. The news may have influenced the buying market, as Bitcoin values rose about 3% over the weekend.

    Author : Evander Smart

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

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

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

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

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

             

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Author : Evander Smart

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

  • Bitcoin Trading in China May See New Controls After Bitcoin Slide

    ​​China pretty much controls the global Bitcoin market, with about 80% of the world’s Bitcoin trading and about 95% of currency exchanges from fiat. This makes how China regulates, or doesn’t regulate, their domestic Bitcoin industry extremely important in the years to come. To this point, China has taken a laissefaire approach to the Chinese Bitcoin industry, but that may be ready to change in 2017. Slightly

    According to the South China Morning Post, the Chinese authorities and People’s Bank of China are mulling whether to introduce third-party custodian services to oversee the world’s largest bitcoin market. This comes after the Bitcoin industry’s rapid national expansion and a recent sharp Bitcoin price fall that has highlighted the potential threat it poses to the stability of financial markets.

    “Regulators have noticed that some bitcoin platforms crashed during the recent market volatilities, causing some investors, particularly those trading with leverage tools, to bear huge losses because they were unable to log on to the website during the sell-off,” the China Securities Journal reported on Tuesday.

    In a perfect world, there may be a truly free market system where no one scams anyone in an investment, but China is not that world, and the raw volume of trading over the past twenty days has drawn a lot of attention in many influential circles. The Bitcoin industry in China has not been prone to theft, fraud or other maladies that used to plague the digital currency, but some tech issues may have been key to some investors taking a larger loss than was reasonable.

    “The bitcoins were not stolen or hacked. Investors suffered loss as they were unable to trade, possibly because of the sudden price fluctuation and large sell offers. Introducing a third-party custodian for the investors would not reduce this risk,” said PwC China Fintech PartnerWilliam Gee, who said based on what happened in early January, the major risk with bitcoin arises from the trading infrastructure rather than the credibility of the trading platforms themselves.

    Maybe individual investors contacted authorities for some level of intervention? Whatever the case may be, the PBOC and others are becoming more involved in the dealing of top Bitcoin exchanges, keeping dialogues open, and looking to make small adjustments into how business gets done.

    As the market is not self-regulated at this moment, this may be a good approach. Leaders withing these large trading platforms are discussing making some ‘rules for the road’ when it comes to their trading practices in the near future, maybe to prevent a heavier hand from authorities.

    “Regardless of the current position adopted by the regulators, recent market activities have certainly attracted their attention. Indeed, we have noticed more active engagement from the PBOC in this respect.” Chun Yin Cheung, another PwC China Fintech Partner, said.

    “Although both mainland and Hong Kong financial regulators have made it quite clear that bitcoin is not a currency and thus not covered by the existing regulatory framework, the bitcoin-related behaviors are evolving and bearing the features of traditional financial market activities.”

    Author : Evander Smart

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

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

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

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

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

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

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

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

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

    Author : Evander Smart

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

  • How the Fall of Mt. Gox Made Bitcoin An Even Greater Success

    As you may have already heard, Bitcoin is closing the year of 2016 on an epic “bull run” that has not been seen since 2013, since the rise and fall of Mt. Gox. Bitcoin values, market capitalization, and positive publicity haven’t been higher since that important time in Bitcoin’s history. Today, I’m going to walk down ‘Memory Lane’ and write about how the loss of Mt. Gox may have been the best thing that ever happened to Bitcoin.

    For those of you who were not members, Mt. Gox was the ultimate Bitcoin exchange from around 2011 through the end of 2013. It serves as a very important part of Bitcoin’s development and history, as it was the place where Bitcoin developed a level of relative price to national currencies. It put Bitcoin’s relative value on the global map and gave the Bitcoin community a place to discover this level of value in real economic terms.

    Regardless of how it met its demise, Mt. Gox’s positive influence on the development of Bitcoin can never be diminished or forgotten.

    The dissolution of Mt. Gox in the first two months of 2014 caused a domino effect that was not fully understood until the next year, in January of 2015, when the value of Bitcoin had fallen from approximately $1100 USD to less than $190 USD. The losses over that year were more than just a relative value but in global confidence in the currency. People who live in Japan, where Mt. Gox was based, actually thought bItcoin had died with Mt. Gox. In a manner of speaking, they weren’t completely wrong. (For more details on the fall of Mt. Gox, click here for an excellent article in Wired.)

    The collapse of Mt. Gox was a lot like the terrorist attacks of 9/11, and the destruction of the World Trade Center, like Mt. Gox, also clouded in mystery and speculations of conspiracy. New York City and the United states at large took a long time to recover from what happened on 9/11, but after a year or two, they began to rebuild. Life must go on, for New York, for America, and for Bitcoin.

    Since that time, Bitcoin has become a much less centralized unit of exchange. Mt. Gox alone was doing almost the amount of business that the three largest Bitcoin exchanges are doing today. Today, it would be considerably more difficult to undermine and destroy three exchanges over one three years ago. That alone is a tangible improvement in the long-term stability of the global Bitcoin market.

    Other benefits include greater security measures by the leading exchanges to protect their fiduciary responsibilities to their clients. Users also have become somewhat savvier and self-conscious about how much leeway to give an exchange when holding one’s digital funds. Exchange risk is still the biggest weakness and threat to Bitcoin users, but new apps, regulations, and best practices have helped the greater community get stronger and smarter, together.

    Back in 2013, there was Mt. Gox, Blockchain.info, LocalBitcoins.com and not a whole lot else as far as major companies influencing Bitcoin worldwide, from the inside of the community. Now, there are better apps, wallet providers, websites, and exchanges to choose from. The frauds and weak have been weeded out of the market, and the global Bitcoin community heads into 2017 stronger, more valuable, and more secure than ever before.

    For Bitcoin to reach its full potential, and to act like a truly decentralized global currency, a central hub like Mt. Gox, controlling over two out of every three Bitcoin transactions, needed to go under. This is much the same as a mining pool that controls over half the mining community would. It would have been nice if its end was met through competition, not an implosion costing 800k Bitcoins to be “lost” in the process, but the fact that this happened fairly early in Bitcoin’s history, not today, is a much better time to take one’s medicine.

    The lessons the users should have learned from Mt. Gox does not keep funds inside of an exchange that you aren’t willing to lose, period. Personal wallets and hardware wallets, even more so, are the best way to hold any cache of Bitcoins worth saving. Trusting any third party is a fool’s game, and no third party should be trusted. The fall of Hash Ocean this summer is another example that no company can be trusted with the growing value of Bitcoins, in any significant amount.

    The ethos of Bitcoin has always been to provide you and I a mechanism to be our own banks, not to just create new banks inside of Bitcoin. We should have learned from the many, many transgressions of the legacy banking system that they are not to be trusted to look after your interests. I learned this from the inside, in my four years as a Wall Street banker. The various lawsuits, instances of collusion, and price rigging scandals in the five years since should have gotten you up to speed on this inalienable fact of life.

    Use exchanges exactly what they were meant for, to exchange currencies, not to store them. If you do, you really deserve what naturally follows next, even though fewer and fewer exchanges fold, it is a risk you shouldn’t take. The smart investors take the little extra time and effort to protect their investment, personally. Go and do likewise, gents. Exchanges are not banks, and Bitcoin does not need a bank. It needs you and me to do what banks never could, or would. Invest in a currency that is rigged in our favor, not to our detriment. And take full responsibility for our investments by right, earning healthy doses of peace of mind and total control in the process.

    If we properly police ourselves, there will be no need for regulations from nations, unless they do so out of fear of their own obsolescence. He who holds the private keys owns the Bitcoin. Don't be that guy or girl who calls on a national government to step in because you did not take responsibility for your own investment. Be better than that. You are your own bank. Act like it, and take an interest in your own economic sovereignty. If you do that, and never forget these tenets, you will live a very happy Bitcoin life in 2017, and beyond.

    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

  • Malaysian Premier Bitcoin Exchange Is Open for Business

    ​Malaysia, December 6, 2016- The financial world has evolved over time, and now involves various complex exchanges. Among these advancements is the emergence of bitcoin e-currency used for trading, whereby people can perform transactions on the internet with others who are thousands of miles away. Malaysia-based Xbit Asia Sdn Bhd (Xbit Asia) has launched its Bitcoin exchange service to match up with the globe’s advancements. The Malaysian Bitcoin Exchange was opened on September 15, 2016 and has been growing steadily for these past 3 months.

    Xbit Asia is the first ever locally owned Malaysian bitcoin exchange Company, where users can buy or sell bitcoins in Malaysian ringgit. The new Company has also prided themselves on giving its users a top priority security on transactions and fast processing services including different payment methods with online support available.

    The new bitcoin exchange which partnered with tons of exchanges around the globe will be providing excellent liquidity to individual investors, institutions, merchants, miners, exchanges, market makers, arbitrage traders, funds and professional trading firms.

    In a recent interview, Mr. Yuwarajan.K, CEO of Xbit Asia said; “We are happy to begin our operation in Malaysia. Our services allow you to be able to buy Bitcoin in less than an hour and we accept payment and deposit from any local banks in Malaysia. We will also be offering a Merchant Services option for local businesses to accept bitcoins and convert them to local currency by Q1 of 2017.

    Xbit Asia is also striving for an exceptional user experience of every single visit of every customer. The reliable support team will be happy to help users with any questions. To register, please visit www.xbitasia.com

    About Xbit Asia

    Founded by Malaysian digital Entrepreneurs , Yuwarajan .K and Mac Sivanesan in early 2016 . They have been educating the potential of Blockchain technology and the future of Financial Technologies locally here and in South East Asia. XBit Asia saw the future demand of bitcoin and the alternate crypto currency and decided to create a Crypto currency exchange which will be able to provide enough supply and to create a healthy competition in Malaysia. We are doing this by building an innovative and secure financial technology platform, leveraging the most optimal technologies available, including the blockchain.

    To learn more, visit https://www.xbitasia.com

    Website: https://www.xbitasia.com

    Contact

    Yuwarajanrajan@xbitasia.com

    Macmac@xbitasia.com

    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.

  • Irreversible Transactions Need Irreversible Protection: Bitcoin Gets Exchange Insurance

    ​Many users of Bitcoin have misgivings about using a new currency whose transactions are essentially final and irreversible. In Japan, this is even more prevalent given the Mt. Gox Bitcoin exchange history. People want more protection of the money, and their precious Bitcoin, in particular. Mitsui Sumitomo Insurance says they will provide this layer of coverage with a new insurance product built specifically for the Bitcoin community in Japan.

    According to Nikkei Asian Review, Mitsui Sumitomo Insurance will launch an insurance product specifically designed to cover losses and damages at bitcoin exchanges. The product, developed with Japanese bitcoin exchange operator bitFlyer, will protect both exchanges and their customers. The total coverage, ranging from 10 million yen (About $88,000 USD) to 1 billion yen ($8.8 Million USD), will be offered against damages and losses caused by cyber attacks and other unauthorized accesses, as well as mistakes and impropriety by employees.

    The insurance will also pay for the costs of dealing with problems, such as notifying customers of an incident and handling damages suits from outside Japan. The insurance premium, calculated based on the exchange's commission revenue, will range between several hundred thousand to several million yen. Similar products are already offered in some countries, but this will be the first of its kind in Japan.

    Total monthly transactions at bitFlyer, Japan's top bitcoin exchange, exceed 100 billion yen, but most of the exchange's domestic peers operate on much smaller scales. Meanwhile, damages from a single cyber attack could reach as high as several billion yen. Since those small exchanges do not have the financial resources to cope with such large damages, their customers face the risk of not being able to recover losses.

    The new insurance product from the MS&AD Insurance Group Holdings subsidiary may help ease such anxiety among bitcoin users, especially those who keep their bitcoin holdings at small exchanges who may not have the funds, or insurance, to cover massive losses from a hack that takes hundreds or thousands of valuable Bitcoins.

    This product may definitely be the right product at the right time in Japan. More and more people are buying Bitcoin as an investment, while new Bitcoin payment services allowing people to send Bitcoin and pay for bills and utilities are also rising. Japanese market research firm Seed Planning in August predicted that total bitcoin transactions at exchanges that accept orders denominated in Japanese yen will quadruple between 2016 and 2017.

    The Japanese Yen is currently the #2 most-converted currency in the world for Bitcoin’s digital currency, behind the Chinese Yuan.

    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

  • 5 Reasons Why Bitcoin Prices Will Continue to Rise in 2017

    Some of the people here at Bitconnect and reading the article just love the technology and ethos of Bitcoin. Many others are strictly speculators, thinking about making more of an ROI with Bitcoin. However you got here, I am happy that you are here. For those who are merely financially motivated, good news! Bitcoin is growing at a rate of over 60% this year, after a more than 35% gain last year, and may gain even more in 2017. Here are 5 reasons why this should be the case.

    India

    Bitcoin is fairly new in India, but it is already making all kinds of gains. India is a heavily cash-based culture, so the recent capital controls we have reported on have hit the citizens hard. This issue has forced many to consider economic alternatives like Bitcoin. Essentially, this action by the banks and government may have started a Bitcoin fire in the world\s most populous country that they may never be able to stop.

    According to Sunny Ray, co-founder of Unocoin, India’s largest Bitcoin company, Bitcoin has gone from selling in the hundreds of thousands of USD worth a month at the start of this year to millions of dollars a month now to tens of millions by early next year. If Bitcoin continues making a good impression,and the governments and banks keep forcing the people to look elsewhere, over a billion people may just discover “the future of money.” That might help Bitcoin values. Maybe.

    Winklevoss ETF

    This ETF project, from the creators of the Gemini bitcoin exchange in New York, has been in the works for years and should come to some resolution in 2017. The twins found a way to get a Bitcoin exchange through regulators in New York; not easy. And Wall Street is looking for something custom-tailored to their investment needs, so expect this to get done in the first half of 2017.

    When this goes through, new, well-heeled investors can create puts, calls, margins, funds, derivatives and more. A major infusion of Wall Street money can only help Bitcoin grow in value. The daily transaction volume from this alone can change the price, and some say it can remove some of the volatility. Once this is approved by the Securities Exchange Commission, this would also have a domino effect in London, Japan, Beijing, and other major markets.

    The U.S. may set the standard, and the rest of the world will fall in line, creating a tidal wave of investing. This has the chance to be the biggest thing in Bitcoin’s history. This may only happen if the next part comes to fruition…..

    Segregated Witness

    In order for Bitcoin to grow, it will need to scale, one way of another. Bitcoin is suffering through a glass ceiling that is the 1 MB block size, and SegWit can solve this problem. Thought to increase block efficiency and effective size by approximately 70%, this will allow more transactions, and more people to use the Bitcoin blockchain without bogging down the system. No more 45-minute waits for transactions to clear.

    If Wall Street tries to get in and Bitcoin has not scaled at all by then, that could be a major situation.

    The Continuing Collapse of the Globalist Model E.U.

    The European Union is not making friends with many of its member nations. A wave of nationalism is starting to sweep the region, as Nigel Farage has helped remove Great Britain from the E.U., at least in spirit. Greece is not a willing E.U. participant, after the last two years of problems, and France is looking at moving on next year with their election cycle ending and a nationalist gaining momentum after President Trump's election opens the door for her. Also, Spain and Italy are struggling and may boil over next year.

    The point is you should expect more economic turmoil in 2017 from the Eurozone, and as history has shown, uncertain times mean boosts for Bitcoin values. There is nothing certain going on in the E.U. except for more uncertainty.

    Smart Contracts

    Rootstock should have Bitcoin-capable smart contracts in the next few months, and this can move interest from Ethereum, the #2 decentralised digital currency in the world, to Bitcoin. As Bitcoin learns new tricks and takes on new technologies, its functionality increases, and so does its market value.

    So Bitcoin is brimming with upside potential. The mainstream hasn’t even scratched the surface of what Bitcoin will become. It will be exciting to see them catch on and discover a better way forward.

    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 Trading Volume Setting New Records in Several Nations

    ​Bitcoin over its almost eight years of existence has made steady upward mobility in most key metrics, whether it is transactions per day, value per Bitcoin, or public awareness of the digital currency. At the same time, many fiat currencies have moved in the opposite direction, losing purchasing power over time and forcing normal users to seek shelter in alternatives like Bitcoin.

    Numbers Don’t Lie

    This is borne out in the latest findings by analytics website Coin.dance and their monitoring of the demand for Bitcoin, worldwide. Coin.dance keeps track of the purchasing of Bitcoin on the popular peer-to-peer Bitcoin exchange LocalBitcoins.com.

    They break down Bitcoin purchasing by country through the site and have done so since March of 2013. Other exchanges may have differing information, but this site’s review of LBC’s volume is a solid indicator of Bitcoin interest amongst the proletariat, regardless of region.

    With the Brexit from the Eurozone still fresh in our minds, and the value of the British Sterling at six-year lows versus the Euro, the United Kingdom is one place to watch. The U.K. is currently near its highest levels since the peak of Bitcoin back in the fall of 2013. This goes for Europe overall, which is at its highest levels of 2016, and approaching an all-time high. Turkey is relatively new to the Bitcoin concept and has seen purchasing double last month’s all-time high just over the last month alone.

    Other nations that are seeing consistent weekly all-time highs include Russia at about 250 million rubles. Venezuela, which has gone from virtually no volume at the start of the year to over 3 million Bolivars last week. Localized hyperinflation in the hundreds of percent this year are forcing the people to find a better way to share value. Columbia, Canada, Sweden, and Mexico are also showing consistent growing Bitcoin demand.

    The United States has been consistently buying about $7 million USD per week of Bitcoin through this one exchange throughout 2016. This is significant as the site overall is doing about $15 million USD per week in overall volume, so the USA holds almost half of their volume. China, the world’s largest trader of Bitcoin as a nation, does very little business on LBC, using domestic exchanges like OKCoin, Huobi, and BTCC to move about 95% of the world’s Bitcoin trading volume.

    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

  • QUOINE Launches New Mobile App and Trading Dashboard

    Popular Trading Platform Offers New Functionality for Professional and Casual Traders alike

    Japan – Coming off a successful $20Million funding round, cryptocurrency spot, margin, and futures exchange QUOINE has announced several key updates to their trading platform as part of continuing efforts to be the most advanced digital currency exchange on the planet.

    QUOINE has seen explosive growth since its launch in 2014, making it one of the top exchanges in the world. QUOINE'S world class matching engine is capable of processing a million transactions per second and the platform also supports up to 25X leverage and asset lending. QUOINE offers market, limit, stop, trailing stop, and TWAP (time-weighted average price) orders, and recently introduced futures trading.

    Some of the new features the company has introduced include:

    New Dashboard: Following feedback from customers, QUOINE has overhauled the look and feel of the trading platform. All of the advanced features, charting tools and trade options remain, but in a easier to use, clearer format that the team is sure sophisticated traders will appreciate.

    Mobile Apps: QUOINE has recently launched their long awaited iOS and Android apps in the Apple App Store and Google Play store, which follow the same design cues as the refreshed website dashboard, while being fully featured and easy to use on a mobile device.

    “Our team have been working tirelessly to bring these exciting updates to our continually growing customer-base, and it shows in these new releases. I can't wait for our users to experience them first hand, and I'm sure our users will use our platform more as a direct result,” said Mike Kayamori, CEO of QUOINE. “Releasing our app allows a whole new audience to enjoy our zero trading fees, since smartphones are becoming the primary device for so many people nowadays.”

    For more information, visit http://www.quoine.com

    About  QUOINE

    Established in 2014, QUOINE customers have taken advantage of the exchange's powerful graphing tools and trading options on its feature-rich interface to benefit from price movements in both a rising and a falling market. QUOINE’s team consists of banking professionals with extensive experience in financial products, including fixed income, currencies, commodities, equity, and derivatives, as well as specific verticals such as Trading Systems, Forex Platforms, Quant Development, Operational Risk & Controls, Financial Risk Management, IT Security, Web/Mobile development & design, Quality Assurance, Regulatory, and others.

    About The Founders

    Mike Kayamori

    Mike is QUOINE's Co-Founder & CEO, following a career spanning 20 years where he held senior roles at Mitsubishi Corporation, Globespan Capital ​Partners, and Softbank Group. Having graduated with a Bachelor of Arts in Law from University of Tokyo before going on to complete an MBA at Harvard, Mike brings extensive experience encompassing Business, Management, and Investment within the technology and telecommunication sectors.

    Mario Gomez Lozada

    As QUOINE's Co-Founder, CTO and President of Product, Mario has helped shape the trading engine and platform functionality from day one. Following a Bachelor and a Master of Science degree in Computer Science from University of Kansas, Mario has had a career in Investment Banking IT spanning 15 years culminated in senior positions, including CTO of Pacific Rim Fixed Income Currencies & Commodities for Merrill Lynch Japan, as well as CTO of Fixed Income, Currencies & Commodities Asia, and CIO Japan for Credit Suisse.

    Media Contact:

    Eddie Chng

    +6593881892

    Email: eddie@quoine.com

    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.