1 = 905.51 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.




  • 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

  • Why Bitcoin Price is GUARANTEED to Exceed $1000 by First Week of 2017

    ​​​I know. I am not exactly going out on a limb here since Bitcoin is already trading at $975-980 USD at this time. Bitcoin is on a “bull-run” unseen since the rise and fall of Mt. Gox in November of 2013. The market dynamics are far different now, far less centralized around one exchange today, and Bitcoin market demand is much higher while Bitcoin supply is now much lower. Now, I have even more good news for Bitcoin investors. In fact, I have a guarantee!

    When was the last time I wrote a guarantee into a headline, in my almost three years of writing Bitcoin news articles? That would be sometime around never. Today, I will make a prediction, a New Year’s resolution, or a guarantee that Bitcoin’s market value MUST exceed $1000 USD by the end of the first week of 2017. It is fait accompli, and I’m being pretty damn conservative here. I’ll be shocked if the price isn’t in excess of $1100 by January 10th, 2017. Here’s why.

    The answer is pretty simple and straight forward, and as usual, it revolves around China. China is by far the largest Bitcoin market in the world, controlling about 95% of the world’s purchasing from fiat into Bitcoin. January 1st is the start of a new year, obviously. This also represents the start of a new annual $50,000 quota to convert the yuan into foreign exchange resets in China. Every year, you can take $50,000 worth of Yuan and invest it elsewhere. It doesn’t take a rocket scientist to see where China loves to put their investment capital these days, or in the days to come.

    “In the new year, the new foreign-exchange purchase quota starts, so we expect yuan positions in January to drop significantly," Liu Dongliang, an analyst at China Merchants Bank Co., noted earlier this month." 

    In other words, come the first week of January, there will be the equivalent of a bank run throughout China, at least by the savvy investors, and they won’t be looking to withdraw $50,000 to buy groceries. Chinese investors will be dumping Yuan to get Bitcoin and other valuable assets like Gold, Silver. Bitcoin’s “bull run” should be expected to continue through at least the first couple of weeks of 2017, if not the entire month of January.

    China’s purchasing power consistently sets the global market price on Bitcoin, so a wise investor would continue to stock up, as their investment will continue to grow in 2017. Maybe this explains the run on BTC tin China taking place as we speak? Maybe Chinese investors are reading the tea leaves for 2017?

    In any event, Bitcoin has made this a Merry Christmas for Bitcoin investors, and it seems destined to also create a Happy New Year for all of those wise enough to invest into what some are calling “The Future of Money.” If you haven’t begun investing in Bitcoin, make your New Year’s Resolution to start now today, and take advantage of a great time to be a Bitcoin investor. I guarantee you will enjoy your investment returns in January of 2017

    If you are new to Bitcoin, feel free to join the community here at bitcoinnect.co, and click here to get a free online education in how you can get started using Bitcoin in 2017, and discover all that a Bitcoin can do for you.

     

    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 Crushes $900 Barrier in A Matter of Hours; Next Stop $1000

    Bitcoin seems destined to wish all of you a Merry Christmas, as we all do here at BitConnect. The timing of this epic “Bull Run” couldn’t be any better during this holiday season. three days have triggered a level of Bitcoin demand, activity, and trading that may be unprecedented in Bitcoin history. This factors in the millions of people who have joined the Bitcoin ecosystem since the last time anything like this happened, during the rise of Mt. Gox in November of 2013. when many of you hadn’t even heard of Bitcoin.

    Next stop: $1000 USD - All aboard!

    According to coinhills.com, the sheer volume of Bitcoin trades and the amount transacted over the last 72 hours hasn’t been seen in years. On Thursday, their numbers had shown over 22,500,000 BTCs were traded, or almost $20 billion USD worth. Through early Friday’s trading session during business hours in Beijing, another 16,360,000 Bitcoins were traded, which equates to over $15 Billion USD worth.

    Bitcoin passed $900 USD less than 54 hours after it passed $800 USD, so at this pace, it will reach $1000 USD by Christmas morning, at least in the West. So you just made over 12% on your money within the last three days. Try doing that with Gold or Silver.

    These numbers almost match the total market capitalization and bitcoins in circulation. This volume is almost exclusively out of China’s Yuan fiat currency, which accounts for 98% of all Bitcoin trades. It is fairly easy to pin the blame, or thanks, for this market movement on the Federal Reserve’s rate hike last week by 25 basis points, thus creating this ripple in the market.

    Also, understand that this may also be happening as a hedge against futures, and Gold is moving down at the same time. Many are worried about the United States’ economic strength to support an interest rate increase, and investors may be moving into Bitcoin as a “safe haven.

    Over the past three and a half years, Bitcoin has been used as a ‘safe haven' effectively several times, including in Cyprus in April of 2013, the Grexit" in the summer of 2015, and theBrexit" earlier this year. People who move fast usually make a handsome profit, and that is definitely the case for some who began moving on Tuesday and Wednesday.

    So Happy Holidays from BitConnect’s News Department, and have a great Christmas weekend, wherever you are. Enjoy your (potentially) $1000 Bitcoins! Buy a Tesla with Bitcoin (either a Model S or pre-order a Model 3.) You deserve it for being smart enough to invest in Bitcoin in 2016.

    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 Adoption Report: Indian Merchants Starting to Accept Bitcoin By the Hundreds

    Bitcoin seems poised to end 2016 on a strong note. Bitcoin has undergone an unprecedented level of transactional volume in Q4 of 2016. November of 2016 was the highest volume month in Bitcoin history, according to Bitcoinity, and the economic conditions in India seem to be a key ingredient to this uptick in global Bitcoin demand.

    India’s leading bitcoin company Unocoin says that the average number of visitors to its site has crossed 14,000 from its daily average of 4,000 users before demonetisation. Zebpay, a local bitcoin company, has seen trades worth 75 cr in November 2016 alone, compared to a trade of Rs 100 cr in all of 2015.

    Now, it seems that merchants are getting in on the cryptocurrency action. Japan has seen a great uptick in business adoption, sporting over 1000 merchants nationwide, and that was as of several months ago. Hundreds of merchants in India have now adopted Bitcoin as a payment option due to the serious demonetization issues taking place in India over the past six weeks.

    “Over 500 merchants have started accepting bitcoins in India. And trading volumes are growing rapidly on the major Indian exchanges,” said Amit Bhardwaj, founder GBMiners, told Tech2 Firstpost. “Bitcoin and a few other cryptocurrencies are already (common) in many countries in Europe. India is yet to reach there, (but) demonetization has certainly reduced the time it would have taken India to reach there otherwise.”

    Another reason for the potential long-term demand for Bitcoin in India is a new tax program targeting people who own and buy gold. Tax regulations have also become much more strict recently, so between the problems just holding cash and/or gold, Bitcoin seems to be in the right place at the right time.

    “I believe times couldn’t have been better for the Indian investment class to fall in love with bitcoin, and this is exactly the reason behind the jump in both bitcoin price and volumes in the country,” Bhardwaj said.

    As Indian banks and government regulators all but force people into using economic alternatives, like Bitcoin, Bitcoin price has skyrocketed. Strangely, the election of Donald Trump in the United States and the actions of Prime Minister Modi in India both took place on November 8th, and Bitcoin values have risen over 10% since this date, with an $800 USD price by year’s end all but assured.

    Author : Evander Smart

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

  • Is Bitcoin Destined to be Worth $1 Million USD? Experts Weigh In

    The world of Bitcoin is still a very, very small fish in a huge ocean of global financial services. It is so small that no whales have really even bothered to really manipulate the market since the epic bubble that was Mt. Gox’s demise three years ago. However, it is always fun to dream about what a little Bitcoin could one day become. Could it be one day worth one million USD?

    This actually started with a Business Insider article by Henry Blodget, who got caught up in the bubble that was Mt. Gox at the time. At the time of his November 2013 article, Bitcoin had reached a new all-time high of $340 USD on its way past $1100 USD later that month. He used the $1 Million dollar number as clickbait (as I am not above doing), only to hedge his bet and say Bitcoin could also be worth $0. He wasn’t willing to take a stand on Bitcoin, but hey, it got him over 100,000 views.

    Today, after Bitcoin has matured some and added many features and investment capital, where do we stand on that potential vision? A few leaders in the Bitcoin community and investment have weighed in. Let’s start with Wences Casares, the CEO of bitcoin service provider XAPO, who said at TechCrunch 2015 and the bitcoin.com forum:

    “I think that there is a higher than 50 percent chance that a bitcoin is worth more than a million dollars. It is hard to estimate how many people on bitcoins, but it may be somewhere between 13 and 15 million people right now. If Bitcoin is successful we will see hundreds of millions of people own Bitcoin and, eventually, billions.”

    “The only way we can get to billions of people owning Bitcoin is by the price going up by several orders of magnitude, let’s say $1 million. So, if I am right, and Bitcoin has to go from $390 to $1,000,000 the best way for it to get there without crashing irreversibly is with as much volatility as possible.”

    Financial analyst Rick Falkvinge, a frequent guest on Max Keiser’s “The Keiser Report” on Russia Today shares Max’s enthusiasm about Bitcoin’s potential future value (Max Kaiser also believes this value may be in the cards for Bitcoin one day). If Bitcoin takes as much as 10% of the transactional currency market:

    “This leads us to a target market cap of 600 billion to 6 trillion USD, to be fulfilled by about 6 million bitcoin, which makes for easy calculations. That means that each bitcoin would be worth $100,000 at the low market cap and $1,000,000 at the high market cap.”

    Trace Mayer has used his RunToGold.com website to also sing the praises of Bitcoin, and refer Gold and Silver investors to the digital currency. He believes that Bitcoin’s long-term value should exceed $1 million USDand may be closer to $3 million USD

    “If you moved just 1% of the cash balances from offshore tax haven bank accounts, which currently hold estimated 30 trillion dollars of value if you move just 1% of that into bitcoin you are looking at 2.8 million dollars per bitcoin,” says Mayer.

    It's all just pie-in-the-sky speculation, but the real question may be what will a USD be worth in the future? It has lost about 97% of its value since the Federal Reserve Act of 1913. China and Russia would love to see the U.S. Dollar lose its global reserve currency status in the near future, causing its value and demand to plummet almost overnight.

    With Bitcoin proving itself to be one of the world’s top economic safe havens, I see no reason to doubt the future value of Bitcoin. However, in the future, a million dollars really won’t be a million dollars. We may be valuing Bitcoins against an ounce of gold sooner than you think.

    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

  • Federal Reserve Rate Hike Could Drive Bitcoin Well Over $800

    2016 has turned into a banner year for Bitcoin, with values up almost 80%, Segregated Witness gaining the mining support it needs to expand the network, and less negative mainstream media press than ever. With less than three weeks remaining in the year, Bitcoin may go into 2017 with a bang if the United States Federal Reserve follows through on its intention to raise interest rates this month. Here’s how it will affect Bitcoin and should force values to clear $800.

    Important Year-End Federal Reserve Meeting This Week

    The Federal Reserve, a private corporation that manages the central banking interest rates and national monetary production for the United States, has spent the last year promoting the idea of higher interest rates. As many as four rate hikes have been intimated. Federal Reserve chairwoman Janet L. Yellen told Congress in November that a rate increase “could well become appropriate relatively soon.” This leads us to the two-day meeting, starting today, which many believe could conclude with an interest rate increase.

    How does this affect Bitcoin? If the Federal Reserve raises rates, this should strengthen the U.S. Dollar’s relative value, attracting investors from China to American investments. This means another round of “capital flight” from China, creating a demand for ways to move money out of China to America and other foreign markets. Bitcoin has been one of these popular economic avenues before, and there is no reason to believe it won’t be again.

    This is clearly not good news for China. A widening gap between onshore and offshore yuan prices points to further Yuan depreciation, and possible capital outflows, ahead. Hong Kong-traded CNH (offshore) yuan fell 0.84 percent versus the dollar in the last week, while CNY (onshore) dropped 0.41 percent. Analysts generally view the CNH to be an accurate predictor of the future dollar to yuan direction as it is not restricted by Chinese regulators.

    When the Yuan is devalued, again, which would be the seventh time this year, people in China will most likely look to Bitcoin as a safe haven to protect their wealth. Recent examples, besides this year’s actions in China, include spikes in investment during Cyprus’ “Bail-In” in 2013, the Grexit (2015) and Brexit earlier this year, and the U.S. Presidential election of Donald Trump last month.

    Demand for Bitcoin seems sure to increase in China by year’s end, under these circumstances. China is by far the global economic center for Bitcoin, with the Yuan accounting for 95-98% of all currency exchanged, and about 80% of all Bitcoin trading.

    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

  • This little gadget puts the Bitcoin price right on your desk

    ​You no longer need to check the Bitcoin price manually. The TicrThing is a hardware price ticker that keeps you up to date, hands-free.

    The bitcoin price is notoriously volatile. One day it is climbing, and the next you regret not having sold your bitcoins yesterday. How do you keep track of the price with so much work to do on your hands?

    Unless you dedicate a spare screen that constantly shows the price, you are probably going through this three-step process.

    • Step 1: remember to check the price, so you don’t miss a good opportunity.
    • Step 2: stop whatever you are doing now, so you can check the price manually.
    • Step 3: repeat as often as you need to.

    There is now a one-step process that replaces all that. Ready? Glance at the TicrThing. Done.

    The TicrThing is a dedicated wireless device that shows the bitcoin price in any national currency right on your desk. According to the product video, “the TicrThing puts the bitcoin price one glance away.

    The TicrThing is created by a small team of developers, designers and engineers, who have met at the local meetups of Barcelona Bitcoin Community.

    “The Bitcoin price is always a hot topic on our meetups, as well as on Reddit and on Bitcointalk”, says Stan Stavrev, chief engineer of TicrThing. “We saw this as an opportunity and created a dedicated device”, he shares.

    The cube periodically connects to the local WiFi network or mobile hotspot, polls the bitcoin price online and displays it on the device. The integrated battery gives freedom to place the cube anywhere without worrying about cables. The configuration is also done wirelessly through a web browser. So no additional apps either.

    The gadget behaves like a bitcoin clock. Though many are just fine with checking the price on their smartphones, there is something neat in having a dedicated price ticker. It’s like having a clock on the wall, although your smartphone already shows the time. Checking the bitcoin price becomes as simple as checking the time.

    Chief developer Mike Mihaylov explains: “We’ve been involved in the blockchain ecosystem long enough to know this: everyone is secretly obsessed with the bitcoin price. The TicrThing feeds this obsession.”

    The team is now crowdfunding the TicrThing on Indiegogo. You can support their campaign with as low as $8. The first 30 supporters can claim their TicrThing at 40% discount.

    So what’s the bitcoin price right now?

    Contact Details

    Company Name: TicrThing

    Website: http://www.ticrthing.com

    E-mail: hello@ticrthing.com

    Contact: +34 650 71 88 67

    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.