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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.




  • Venezuela Sets Bitcoin Trading Records Even as Top Exchange Closes

    Due to the closure of its bank account, the Venezuelan exchange is forced to suspend its services in local currency. SurBitcoin hopes to resume activities within two weeks, during which time it will focus on improving their security measures. The exchange recommends the immediate withdrawal of funds in bolivars, according to DiarioBitcoin in Venezuela.

    SurBitcoin notified its users that they felt obliged to suspend its activities in local currency from Friday, February 3. The measure is due to a notice of Banesco in which he was informed that the exchange house bank account would be closed, so this may not trade in bolivars: or withdrawals or deposits.

    Despite the arrests miners and due to the partial closure of operations in the main exchange SurBitcoin , the service person to person has had an unprecedented volume of transactions almost double what was exchanged in December.

    Enthusiasts Bitcoin who buy and sell in Venezuela apparently are not afraid of the latest news that have cast doubt on the stability of the cryptocurrency in that country. The week just passed through Localbitcoins the largest number of operations performed in its history, if they are calculated in bolivars. 1.12 billion bolivars (approximately US $ 337,044, depending on the parallel market price) were exchanged.

    The previous week (the last of January) had traded for 744 million bolivars. In fact, it is the first time the number of operations exceeds the billion bolivars . The number of bitcoins exchanged was 359 bitcoins, when the last week of January fell from 252 hands bitcoins. It grows and grows.

    It is striking that such a volume of operations is taking place despite the climate of uncertainty that has woven with respect to the legality of the currency in the country. Although no government official has made an official statement on the cryptonnet, during the last two weeks of January several operations were carried out to stop the mining activity.

    First, on 26 January, four people were mining Bitcoin were seized in Charallave , Miranda state. Then two days later, it was dismantled one Bitcoin mine in Carabobo state , which had 11,000 teams (two people were arrested) and last week in Caracas police arrested two people for selling mining equipment Bitcoin through website Mercado Libre. Despite this series of arrests, at no time have been affected the buyers and sellers of the criptomoneda. In an article, Journal Bitcoin explained that the sale was still safe in Venezuela .

    However, last week happened a fact that surely made many people to migrate Localbitcoins . The bank Banesco, one of the most important , closed the account Surbitcoin , the country's largest exchange, which prevented the exchange operations in bolivars as of February 3. The same Surbitcoin alerted users about what was happening and recommended them to use the service person to person Localbitcoins if they were in the need to exchange currencies.

    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

  • Was January of 2017 the craziest month in Bitcoin history?

    ​If you want to see economic fireworks, just get involved in the Bitcoin community anytime from November through January of any year. It’s like trying to fly a kite through a solar wind storm. Bitcoin began gaining momentum throughout November, via the demonetization of India. December saw another boost as people look to get all their Bitcoins in order by year’s end, but January was maybe the most exciting month in Bitcoin history.

    Compare Jnauary of 2017 to November/December of 2013

    The whirlwind that was November 2013 was unprecedented and has never been matched since, for the upwardly volatile price in less than a 30-day span. According to Bitcoin Average, Bitcoin started the month at $208 USD and was over $1183 USD by the 29th.

    However, the trading volume, number of people in the Bitcoin community, and global reach of the currency was considerably less than it is today. The fireworks were greater, but only in one part of the ecosystem, and in a much smaller ballpark than Bitcoin plays in today. Look at all the things that have changed for Bitcoin just in the last 30 days.

    In January, Bitcoin threatened the all-time price record, reaching a high of $1153 USD on the 5th. This day also set a record for most transactions in a day at Blockchain.info with over 345,000. Then, over the next 48 hours, the price bubble bursts, and Bitcoin loses over $320 USD in value or 28% of its value. Just a week after its peak, Bitcoin is down to $770 USD, losing one-third of its market value. Since that point, Bitcoin has gained back more than $150 USD in value or 20% in value.

    Also, consider the regulatory changes in China and the effect that they have had on the global market. At the start of this year, the three largest Bitcoin exchanges, BTCC, OKCoin, and Huobi controlled over 95% of the global Bitcoin trading volume. Today, not only are the not the top three traders anymore, none of them are even in the Top 5 exchanges anymore! The top Bitcoin exchange isn’t even in China anymore. Bitflyer, Japan’s leading exchange, now controls almost 20% of the global exchange market.

    To illustrate the change in the market, on January 4th and 5th, bitcoinity.org charted about 14 million in Bitcoin trading volume on each day. Yesterday, then volume dropped to just over 200,000, a reduction of almost 98.5% of the Bitcoin’s global trading volume. The new regulations and trading fees in the Bitcoin exchanges in China might have had a small effect on these metrics. Maybe.

    So if you look up the price changes from 2013, you are only seeing the cover. You should read the book on the Bitcoin ecosystem to discover that this month was indeed the most volatile, and maybe the most transformative month in bitcoin history. This month has affected more people, in more countries, and has redistributed the power structure in Bitcoin trading out of the hands of the few Chinese exchanges into the hands of the many worldwide. The Bitcoin landscape may have been changed for years to come based on what happened this month.

    Frankly, I hope that February is a little less….exciting. Who else needs a cigarette?

    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 Exchanges See Massive Drop in Trade Volume After New Fees

    ​The Bitcoin business world has been controlled by the Chinese market over the last three years, but there is a caveat. The massive volumes put forth by Bitcoin exchanges, BTCC, Huobi and OkCoin have not exactly been on the up-and-up. No-fee trading policies have inflated numbers dramatically, and national financial regulators have come in to begin a more legitimate system. The results have been significant in recent days.

    High-speed, automated traders have made Chinese exchanges their method of choice due to the lack of any real cost to manipulate these systems. The trading volume is done mostly to lower the costs of withdrawing funds, but when over 90% of the world’s trades are happening in just three exchanges, someone has to police the system that wasn’t doing a good job of policing itself.

    Now that the regulators in China and the exchange's top executives have gotten together and made some working revisions that include trading fees, the trading volumes are now vastly different than they were just a week or two ago.

    “One-hour volume at OkCoin fell 89 percent to 1,026 bitcoins at 1 p.m. local time, from 10,062 during the same period on Monday, according to the venue’s website,” says Gary Gao of Bloomberg Business. “Huobi and BTC China saw declines of 92 percent and 82 percent respectively. Prices were little changed, at around 6,350 yuan per bitcoin.”

    These changes can do a lot of good for the greater Bitcoin community. This may lead to less drastic price swings and less volatility. Investors overseas may see the industry as less centralized and move more capital into the market, now that the volumes are not so manipulated or concentrated. Also, fewer speculators and a better cross-section of actual users will be represented by the volumes.

    Overplaying China’s trade volume leads to the wrong conclusion that bitcoin’s value is purely derived from its role as a speculative plaything for Chinese investors, says Neil Woodfine, COO of Remitsy, and a local Bitcoin businessman in Beijing. It leads people to make the mistake that there is (an) existential risk to bitcoin in the Chinese government’s treatment of bitcoin trading or just Chinese traders whimsy.

    These changes may be having an effect on Bitcoin’s price, as Bitcoin fell 2-3% on Tuesday, heading back under $900 USD as of this writing. After a massive bubble to start the year, Bitcoin is down about 6% so far in 2017.

    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 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

  • China Exposed - How China Does Not Control Bitcoin As Much As You Think

    ​​This article is as much for my own edification as anyone. I only report what I hear and whatever the Bitcoin market is doing in China is definitely third-hand, at best. The great part about my job is that I can learn about the digital currency I love while sharing this knowledge with the world because knowledge is power. Today, it is time to share some power. China is not the center of Bitcoin’s universe, as I and many of you have been led to believe.

    The stats are readily available only from Coinhills and other sources. About 95% of the world’s fiat exchanges into Bitcoin are from the Chinese Yuan/Renminbi, and about 80% of all the trades are done in China, and the three major Bitcoin exchanges do well over 98% of the volume in global Bitcoin trading. If you know this much, as I did, you only know the what the house of Bitcoin looks like, not how it was built, or how it is financed. Meet Neil Woodfine, who will teach us the rest of the Bitcoin in China story.

     

     

     

     

     

     

    See, Neil is the Cheif Operating Officer of Remitsy and he runs bitcoin meetups in Beijing, China on a regular basis. He has his “boots on the ground” in what has become the most active Bitcoin trading location in the world, and he reports in his blog post that activity in China when it comes to Bitcoin is not what it may seem. It is far more manipulated and far less ubiquitous as you may think, looking from the outside in, just reviewing the data from a chart on a website.

    His take is part one of a three-part series from China, covering Bitcoin’s exchange market as he sees it. So please check out his piece and the links he provides to more information if you want a more complete education on this very influential Bitcoin market. Here I will summarize his first edition. I’ll touch on three key concepts to China’s influence, or lack thereof.

    Firstly, the Chinese exchanges do not charge a transaction fee, which creates many intended and unintended consequences. Woodfine alleges that the sheer competition in this market has forced the companies to do away with any fees, but this ability to trade freely when most exchanges charge 0.2-1% is a false narrative when it comes to volume. Neil explains how this trading changes the market’s dynamics, which he calls "trading spam," or "fake trades," a la “fake news”.

    “(Since there are no transactional fees,) Chinese exchanges generate most of their revenue from CNY withdrawal fees. 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.”

    So the exchanges seem much more powerful and popular in trade volume than in reality. In other words, many people set up two accounts, trade their one Bitcoin between the two accounts, drive up their trade volume, then withdraw their actual funds at the lowest exchange rate possible. And this is not just the average trader doing this, but the exchanges themselves engage in this fake trading practice, at much higher volumes than you or I could generate. This increased volume and liquidity attracts more buyers to each exchange, so it is effectively gaming the system.

    Woodbine figures that, without hard numbers that would not be disclosed by the exchanges or the traders, that the legitimate trade volume is about half of what is commonly reported, so more like 40-50% of the global trading market. Still the major player, but 90+% is a major over-exaggeration.

    This also doesn’t take into account the OTC (Over The Counter) market that also uses these exchanges from other countries, so it is also certainly not a 90% Chinese investor driven industry, either. There are plenty of savvy investors elsewhere who are using their low-cost system to make far better returns on digital commodity trading than the 7-8% Gold brought last year. When your currency value jumps over 125% in a year, the world will move in on your system, not just one country. Neil further explains:

    “But overplaying China’s trade volume leads to the wrong conclusion that bitcoin’s value is purely derived from its role as a speculative plaything for Chinese investors. It leads people to make the mistake that there is (an) existential risk to bitcoin in the Chinese government’s treatment of bitcoin trading or just Chinese traders’ whimsy.”

    So please use the link above, or look up Neil Woodfine of Twitter, for more details on his findings and future posts on this subject. He seems like a solid resource, being immersed in the Chinese Bitcoin market and being able to convey, in English, what is really going on. Those who do not trade in Bitcoin because they think China and its government have too much control seem to have been misled.

    The digital currency revolution will not be centralized.

    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 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 Investments Get Better With Bitsea

    UK, (December 17, 2016) – With the quest for ultimate economic independence raging in full swing among the global population of the 21st century, the idea of tapping into the world of bitcoins appears to be gaining steady momentum. While still in its very early stages, this revolutionary form of digital currency has phenomenal potential to not just cater to the cause of making e-transactions but to cater to the cause of added income as well, through specific / systematic bitcoin investments.

    To make things easier for interested enthusiasts as far as understanding and accessing bitcoin trading is concerned, BitSea Limited has put in very commendable efforts that have been acknowledged in nations beyond UK, where the company is presently registered. Established in the year 2014 under the leadership of Adrian Mallory, this dynamic company boasts some of the best brains in this realm that are thoroughly dedicated to offer every investor the best possible returns for their investments.

    To make things easier for interested enthusiasts as far as understanding and accessing bitcoin trading is concerned, BitSea Limited has put in very commendable efforts that have been acknowledged in nations beyond UK, where the company is presently registered. Established in the year 2014 under the leadership of Adrian Mallory, this dynamic company boasts some of the best brains in this realm that are thoroughly dedicated to offer every investor the best possible returns for their investments.

    What investors in general have loved about the company is the fact that BitSea Limited has never offered ‘no risk’ assurance unlike many others in the market. The company on the other hand, assures investors the lowest risk route through which their money can grow significantly without suffering losses.

    BitSea Limited has also been applauded for being as much applicable to smaller investors as it is to very large companies or business entities making it a very safe and approachable platform to commence bitcoin mining / trading / investment for everyone wishing for uncompromised financial health.

    About BitSea

    BitSea is a Bitcoin trading and mining company that was founded in 2014 and registered in Great Britain. The company is known for housing some of the best brains in the field that work 24/7 to offer investors high returns with minimal risks.

    To know more, click https://bitsea.biz/

    Contact Details

    Company Name: BitSea Limited

    Address: W1g 0pw 33 Cavendish Square, London, UK

    Owner name: Adrian Mellory

    Website: https://bitsea.biz/

    Email: webmaster@bitsea.biz 

    Sub-headline:

    BitSea is a bitcoin mining and trading company that offers phenomenal results to investors at low risk. Starting bitcoin investment through this company is very easy and applicable to investors of all volumes.

    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.

  • It’s Not Just China - Inflation-ravaged Venezuela Floods into Bitcoin

    ​The market-dominant Chinese get a huge slice of the Bitcoin community press these days, and for good reason. They control the vast majority of the Bitcoin trading and Bitcoin mining, so they get a lot of the coverage when things change in the community. China sets the Bitcoin global market price these days.

    China is buying more and more Bitcoin these days, but they aren’t the only ones. Venezuela may be a fraction of the size and economic value of China, but they are making their own beeline into Bitcoin, for different reasons.

    If your nation were hyper-inflating, you’d jump on Bitcoin too

    Life in Venezuela is pretty tough these days. The Venezuelan Bolivar is in the throws of “hyper-inflation,” meaning its value is dropping like a stone, and the government is printing more of a currency nobody wants. Most people believe the definition of inflation is when prices rise and this is not the case. Inflation is when the amount of base currency increases and more currency units are added to an economy.

    Hyper-inflation is just an amplification of this. The International Monetary Fund predicts Venezuela will suffer inflation rates of almost 500% this year and up to 1600% by next year. Maybe in a top Western culture, you may see inflation rates quoted at 1-2% when in reality they’re closer to 5% per annum.

    That’s inflation, and it happens every year. If you are seeing 100% to 500% inflation per year, you see people stealing horses and killing them for food in Caracas. Welcome to the economic crisis in Venezuela, and Bitcoin is a digital golden parachute for some of the savviest Venezuelans.

    Bitcoin pretty much provides the opposite effect, due to its deflationary (reduction in the number of currency units produced over time) nature. Bitcoin prices have risen over 60% this year after rising over 35% last year, and this almost instant value is very attractive to those suffering minor economic stress, like those in China.

    Venezuela-bitcoin-trading

    If you are in Venezuela, this may be your last chance at economic salvation. Bitcoin trading in the country has gone from less than 50 BTC per week at the start of the year to as much as 370 BTC per week, recently. Bitcoin exchanges like SurBitcoin, the only Bitcoin exchange in the country, and Xapo’s Bitcoin app are seeing all-time highs for usage in the economically unstable nation.

    It is unknown how, or if, this trend will continue, or even get worse. People are waiting all day in lines to buy basic items like flour or detergent. Many go all day without eating. Bitcoin won’t solve these daily problems right away, but for those that know enough and still have enough money to purchase, Bitcoin’s almost daily growing value can be the ray of hope some need to survive this economic superstorm.

    Bitcoin is the world’s first global currency, and it is one of the last ways to protect the remaining wealth of those in economically troubled nations like Argentina and Venezuela. In China and the U.S., Bitcoin may be mostly an inventor’s tool. In places like Latin America, it may be one last shot at salvation.

    This is why regulating Bitcoin is somewhat futile. There will always be nations, black markets, and “Dark Webs” where Bitcoin is not only available but unregulated and preferable to all other mainstream financial options. There will always be a place for Bitcoin trading going forward because it provides a service billions of people need every day.

    Many right now are looking for protection from their state-run economies. If your nation-state is producing an economic fire sale on its currency, Bitcoin can be your fireman. That’s why Bitcoin was made in the first place, to be a free-market alternative to a falling U.S. Dollar in the throws of a 2008 “Great Recession.” This is its #1 business case. Protecting the proletariat from the silent form of taxation, inflation, perpetrated by The State.

    Right now, Venezuela doesn’t want Bitcoin. Venezuela needs 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

  • Coinsecure Launches India’s First Real Time Bitcoin Trading App

    ​​Today, Indian Bitcoin exchange, merchant services, and blockchain leader, Coinsecure, launched its mobile trading application for Android. This real-time Bitcoin trading app is ideal for active traders on the go. Coinsecure aims to target India's ever growing Mobile user base. This is a huge step towards getting an increased number of users started with Bitcoin.

    While the trading app is one of many applications the Coinsecure team has been working on, CEO and Founder, Mohit Kalra, sees this particular launch significant stating, “With over 190 million smartphone users in India, putting a technology so disruptive like Bitcoin in their hands is a win - win situation.”

    Coinsecure’s mobile app is India’s first real-time Bitcoin exchange app. While the app targets traders, it is also simple and easy for a beginner to use. The app enables users to buy, sell, send, receive and accept Bitcoin with ease. The app also displays live order books. Users can place their bids and asks, withdraw and deposit funds, check pending orders, all with the click of a button!

    Coinsecure strives to ensure that users can retain a stellar experience across all platforms. Desktop web was our first build. A mobile app for multiple devices is the next step in bringing Bitcoin to India”, said Benson Samuel, CTO and Co - Founder.

    Coinsecure first launched its Bitcoin exchange in January, 2015 with the intent of bringing Bitcoin to India. Coinsecure’s exchange is the only real time live spot trading exchange in India with fully open order books. Coinsecure additionally provides customers with a merchant payment gateway, a variety of wallet services, and a public API. Earlier this year, Coinsecure announce their Series A raise of 1.2 Million USD. Most recently, Coinsecure announced partnerships with BitPay for merchant services and with OKLink for remittance services.

    Coinsecure is taking the lead in bringing Bitcoin to India.

    COINSECURE:

    Benson Samuel and Mohit Kalra, founded Coinsecure with the mission, “Connecting India to Bitcoin.” Coinsecure works to educate and enable individuals and businesses to leverage Bitcoin and Blockchain technology through the first and only INR based blockchain explorer, an open order book exchange with a comprehensive API, mock trading platform/testnet, paper wallet services, an online wallet service and merchant payment gateway. Coinsecure has successfully created a strong foothold in India with the highest liquidity and volumes. Coinsecure’s head office is in Delhi and houses the banking, compliance, accounts, legal, management and advisory teams. The development center is in Bangalore. Coinsecure is in the process of completing a Series A round with 1.2 million USD in.

    CONTACT: Elizabeth McCauley

    WEBSITEhttps://coinsecure.in/

    EMAIL: press@coinsecure.in

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