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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.




  • India’s Top Bitcoin Companies Form New National Bitcoin Alliance

    ​India is one of the hottest new Bitcoin markets in the world and the Reserve Bank of India has noticed. After a recent negative caution against using Bitcoin, this brought the fast-growing Indian Bitcoin community leaders together to form a new alliance that will work towards self-regulation and usage standards.

    The leading companies in India include Unocoin, Zebpay, Coinsecure and Searchtrade. They were in preliminary talks to form an alliance but this message from the RBI created a sense of urgency to begin construction of the Blockchain and Virtual currency Association of India.

    While we have been planning to create an association for some time, we finally pushed things after the circular, said Saurabh Agarwal, co-founder of Bitcoin trading and wallet company Zebpay ". “We had thought of reviving the old association - Bitcoin Alliance of India (formed in 2014 but now defunct), but we also decided to add blockchain companies and create a larger association.”

    These four companies can be considered founding members, but they expect to have as many as twenty member companies later this year, according to the Economic Times of India. The association will also focus on making Bitcoin trading safe by ensuring members follow strong KYC measures and by creating awareness among users about Ponzi schemes and other risks.

    The Reserve Bank of India had the following to say about the use of Bitcoin in India:

    The Reserve Bank of India advises that it has not given any license/ authorization to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader, etc. dealing with Virtual Currencies will be doing so at their own risk.”

    The warnings have a hollow sound to them after the central bank and national government conspired to demonetize the entire nation of over 1 billion people almost immediately. Dozens have died waiting in queues for ATMs that are either broken or are out of currency within a couple of hours, as Prime Minister Narendra Modi looks to one day create a “cashless society.”

    Hundreds of merchants throughout India have quickly adopted Bitcoin’s digital currency as an accepted mode of payment, given the problems with accepting legal cash, not the targeted “black money,” or any cash at all. The government has created a new national system of digital currency that includes biometric scans on smartphones, creating a natural competitor in 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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Author : Evander Smart

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

  • Bitcoin Retail Adoption in Japan Jumps Over 450% in 2016

    ​Much like the Internet a generation ago, Bitcoin will only become commonplace and “go viral” if the average mainstream consumer starts to use it on a daily basis. When the average person started a WordPress blog, or upload a YouTube video, that’s when the Internet took off. For Bitcoin, more retail merchants will need to start accepting Bitcoin for it to go to the next level. This is exactly what is happening in Japan, a new study reveals.

    The number of stores that can use Bitcoin on the Internet in the Japanese market has increased more than four and a half times within 2016 alone, Due to this rapid expansion, the survey shows that the number exceeded 4200 stores, as of 26th last month. This is about 460% more than the survey one year ago, and it has spread to various industries such as beauty salon, nail salon, and remodeling company besides eating and drinking establishments.

    As we here at BitConnect have reported last year, one of the major drivers of this mainstream adoption in Japan has been Coincheck, Japan’s largest Bitcoin exchange. They have personally added over 1000 retail merchants to Bitcoin’s business community, as of several months ago.

    "Currently, most bitcoin users buy bitcoin for investment purpose. However, this situation may change if more businesses accepting bitcoin,” said Kagayaki (Kaga) Kawabata, Business Development Lead for coincheck. “Coincheck is also the leading bitcoin payment service in Japan. We have a bitcoin payment service where more than 1,000 merchants are using our payment solution. Recently, DMM.com, an entertainment giant with more than 19 million users in Japan, started to accept bitcoin payment by using coincheck."

    "The Japanese government has been very welcoming to the Bitcoin community, creating and passing laws that allow the use of Bitcoin on par with fiat currencies. Self-policing Bitcoin groups like JADA (Japan Authority of Digital Assets) work with the Japanese government and Japanese Financial Services Agency to establish standards and codes of conduct for bitcoin businesses.”

    Japan’s level of investment out of Yen and into Bitcoin has surpassed the U.S. Dollar and is only exceeded by the Chinese Yuan/Renminbi. Businesses have also been established in Japan that allows users to pay for essential utilities like electricity in Bitcoin as well. Considering the fact that the collapse of Mt. Gox occurred there less than three years ago, this market turnaround is nothing short of remarkable for its speed and breadth.

     

    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

  • 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 Has Proven Peter Schiff Wrong: Bitcoin Beats Gold as Store of Value

    Peter Schiff is a world-renowned investment advisor and market forecaster who owns his own precious metals corporation, Euro Pacific Precious Metals. He is maybe best known as the one pundit or market expert who predicted the 2008 market collapse in the United States. This prognostication has given him a lot of credibility in predicting the future of the financial markets.

    The only problem is, as wise as he is about fiat currency and precious metals, he has less experience when it comes to the revolutionary new asset class known as decentralized digital currency, spearheaded by Bitcoin. Three years ago Monday, he called Bitcoin “Tulipmania,” “the wrong choice,” and “isn’t a store of value.” Let us review his critiques and see if he was right or wrong about Bitcoin.

    So much for “Tulip Mania”

    Just as a refresher, many financial gurus, Peter included, have incorrectly used the term “Tulip Mania” when describing the Bitcoin market. This was a common mistake in 2013 when Bitcoin was just making waves in 2013. “Tulip Mania” was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed.

    At the peak of tulip mania, in March of 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble, which lasted from 1834 to February of 1637 when the market collapsed forever.

    Bitcoin has some similarities to this phenomenon. Bitcoin also had a market collapse after about four years (2013 : Mt. Gox,) losing about 85% of its value, and bottoming out in January of 2015. Unlike the Tulip market in Holland, however, Bitcoin is back on its pre-crash trajectory. If you remove the Mt. Gox bubble from 2013-2014, Bitcoin’s price is on the exact same arc it would’ve always been on. Mt. Gox was the market bubble, not the Bitcoin market itself. That is the critical difference.

    In November 2013, when this video was made, and Bitcoin was at its all-time peak of over $1000 USD, Peter said the following about Bitcoin:

    “I think the idea behind Bitcoin was to digitally replicate gold. Kind of a gold standard for the Internet.”

    Obviously, Mr. Schiff did not read Satoshi Nakamoto’s White Paper, easily found in a Google search, where it states in the first sentence that Bitcoin is “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

    The problem with him not knowing this important distinction is he then goes off on a tangent about how great Gold is and how worthless Bitcoin is when he clearly doesn’t know what he’s talking about. Here’s an example:

    “There’s nothing you can do with a Bitcoin except give it to somebody else.”

    This has been proven incorrect, as you can use Bitcoin transactions to post title deeds for property, marriage certificates, and other documentation on the Bitcoin blockchain as an immutable proof of ownership/work.

    He also goes off on some tangent about this “intrinsic value” Gold has over Bitcoin. How is Gold “intrinsically valuable?” Yes, it has some manufacturing uses, but it does not derive its value from manufacturing. If I gave Peter a gold bar, what would he do with it, besides sell it? Does making a necklace or bracelet out of gold make it “intrinsically valuable? Bitcoin’s utiility and ease of use makes it far more valuable than Gold, IMO.

    This video is old news, so I’m not going to critique it in-depth, but remember Peter had a vested interest in the Gold/Silver market, obviously. It is important to realize that Gold peaked at $1800 USD in 2011, but had lost value for two years straight before the making of this video. Same went for Silver which peaked at about $40 USD, and it following Gold into the guttar, figuratively speaking.

    As peter did mention, people who would normally buy Gold or Silver in 2013 went in on BTC, and that didn’t help the precious metals regain their market footing, it hurt them. People who jumped in on BTC in the fall of 2013 were in for a fall starting in December, but investing in Gold wasn’t any better.

    Gold has dropped steadily until 2016 when it has finally seen gains of about 15% to this point. Five years later, Gold is still down about 30% from its 2011 peak, and Silver even more than that. Bitcoin, in contrast, is up about 70% this year, and thousands of percent since the same point in 2011.

    It has proven itself to be a trusted store of value since before the making of this video, in the Cyprian crisis of April, 2013. Grexit, Brexit and the election of Donald Trump have also proven this fact. Bitcoin may not be a perfect store of value,l but it has been far better than Gold or Silver over the last five years, so Gold or Silver as a store of value, and therefore money, does not hold water. Bitcoin has more than held its own against Gold as a valuable commodity/ investment.

    In closing, I like Peter Schiff and respect his understanding of the greater economic market, and the severe flaws in the current system, He is trying to lead people in the right direction, which is away from dependence upon the U.S. Dollar, or any fiat currency as a long-term store of wealth. He’s right on that point. Unfortunately, he was not educated in what Bitcoin is in 2013, and it showed. He has since had “debates” with Eric Voorhies (here and here) about Gold vs Bitcoin and is more up to speed with this revolutionary technology.

    You’re never too old, or too wise, to learn something new, and Peter has learned that Bitcoin is not “the wrong choice” by any stretch of the imagination. It is not in line with his vested interest in Gold, and that was the main problem for Peter, as he says at the end of this video.

    Bitcoin is not going anywhere, and neither is Gold. Gold has been mined for thousands of years and will continue to be mined, in much larger quantities than Bitcoin, for another few thousand years. Bitcoin is a unique creation no one should compare to any other. It’s not “Gold 2.0.” Maybe that’s what he heard on the street and took it literally, but Bitcoin and Gold are both valuable assets that will continue to be wise investments for years to come.

    Hopefully, you have the wherewithal to own both, and then pass judgment yourself. Peter did not, and that was his first mistake. This was a common mistake by the mainstream investor or market expert in 2013. Peter Schiff, nor any other credible pundit makes these same mistakes today. Bitcoin has proven itself to investors and so-called market experts, and it has earned the respect it deserves.

    Author : Evander Smart

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

  • BitConnect’s Official Bitcoin Global Market Report - July 2016

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

    Many unexpected Post-halving results

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

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

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

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

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

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

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

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

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

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

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

    Author : Evander Smart

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

  • Circle of Life - Bitcoin Bank First to Gain Full Access to British Market

    Many nations and locales have little or no concept of what Bitcoin or digital currency is, and are happy to keep it that way. This would actually describe most of the nations of the world, at least officially. Great Britain, notably the metropolis of London, is not one of those locales. Not only are they very familiar with Bitcoin and its related technologies, they see the space as a future industry to be conquered in the 21st century. With that in mind, they have awarded their first electronic money license to Bitcoin banking company Circle.

    Circle pulls off the rare double-license on both sides of The Pond

    As I have reported previously, London is looking to become a global Bitcoin hub, and the British government has been working hard to legislate and attract Bitcoin and blockchain related businesses to the city. Some places, like New York with their BitLicense debacle, for example, pay lip service to having an interest in Bitcoin and its technology, while pushing this business away in deference to the status quo of economic establishment.

    Circle of Life - Bitcoin Bank First to Gain Full Access to British MarketLondon is putting their legislation where their mouth is, making short work of Circle’s regulatory inclusion by The Financial Conduct Authority. Circle so far is the only known major Bitcoin company to successful gain license in New York, much less both business hubs. The FCA has approved more than eighty financial transfer companies over the last five years, versus one for New York, since BitLicense was introduced.

    "For the first time any consumer in the U.S. and the U.K. will be able to beam sterling and dollars back and forth, instantly for free,” said Jeremy Allaire, the co-founder of Circle to the New York Times. “That’s just never been possible."

    This landmark move was done through a partnership with British mega-bank Barclay’s, bringing Circle into Britain’s Innovation Hub, and incubator for fintech startups. Circle launched in the United States at the end of last year and is now allowing cross-currency transfers of pounds and dollars at rates that it says are better than other money transfer services and with no added fee. It will soon also allow transfers into and out of euros when it launches in the rest of Europe later in the year.

    British Circle consumers will be able to use their “social payment app,” to transfer funds via bitcoins, which are re-converted back into dollars or pounds. The process is instantaneous and invisible to users. Circle uses the more cost-effective Bitcoin payment system to increase speed and reduce costs where sending money internationally, instead of national fiat currencies.

    "Circle’s decision to launch in the UK and the firm’s new partnership with Barclays are major milestones,” said Britain’s Economic Secretary to the Treasury Harriet Baldwin. “They prove our decision to introduce the most progressive, forward-looking regulatory regime is paying off and cements our status as the world’s Fin Tech capital."

    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-based Online Supermarket OpenBazaar Finally Goes Live

    It seems like it's been promised since forever. Within the Bitcoin space, two years seem like a decade, and OpenBazaar started out as an Amir Taaki concept was known at a Toronto hackathon as DarkMarket. Since April of 2014 this concept has been whispered about, rebranded and reimagined, and now it is finally here, under the stewardship of Brian Hoffman. If Bitcoin, eBay, and Etsy somehow had a child, it would look something like OpenBazaar. The world of online shopping will never be the same.

    Takes the Bitcoin peer-to-peer concept to online shopping

    Bitcoin-based Online Supermarket OpenBazaar Finally Goes LiveOpenBazaar is free to download and free to use. It has been in testnet mode for the past several weeks, in preparation for this achievement. I, personally, have built a store called Bitcoin Video University, modeled after my website , on the testnet, and now on the livenet as well, so I can speak from a user’s experience. (You will have to rebuild your testnet site once again on OpenBazaar 1.1 . It will not auto-populate or migrate to the live version on its own.)

    So what has two years of work and publicity wrought? Basically, a living app that has no central server, and lives on within the computers of all vendors and mods. An online marketplace with no fees, no leaders, no grand overseer. There is a modest, almost primitive directory that can find a handle, ID or tag to get you moving in the right direction. In some ways, it will give you a flashback to the early Internet, but it would be your Internet app to build upon.

    "Trade was meant to be free,” says project head Brian Hoffman. “This idea inspired us to spend the last two years building OpenBazaar. Starting today, anyone in the world with access to an Internet connection can use Bitcoin and OpenBazaar to exchange goods and services freely. We can’t wait to see how people will use this tool."

    Your computer becomes an operational node for the application, and your store is open as long as your computer is operational and the app is open on it. Bitcoin is the currency, but products or services can be priced in any number of national currencies for Bitcoin to convert to for proper compensation. Moderators are used as an escrow and dispute resolution service for transactions using multisig. Their rates vary from fractions of a percent to 2%. Your new store also auto- populates on BazaarBay.org, which helps sort and search the stores for you.

    There was a helpful person from the Help Desk who welcomed me to OpenBazaar before I even made a new listing offer support. The builders claim over 25,000 downloads with over 3000 items listed in 126 countries through the initial test net, so this has gained some form of traction. Most people, including the Help Desk, look like a Bitcoin public key address until they go to onename.io and create a custom handle for ease of use and navigation. Migrating a previously created handle was simple enough.

    The delays and testing have been mostly to prevent this project from becoming Silk Road 2.0, so don’t expect a great many illegal or illicit products and services to last very long here. Think of it as being on the ground floor of the next eBay or Amazon (OB1, the company that created OpenBazaar, prefers the comparison to Etsy.) You may have missed the first steps of Bitcoin, but the next big thing could be on your hard drive in a matter of minutes. The wait is finally over.

    Will you download and use OpenBazaar? In the coming years will it be the next eBay or Etsy? 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