If you’re wondering what all the fuss is about. Or if you have not heard about Bitcoin or other digital coins in the news or from a friend, it’s time to WAKE UP! Digital currencies look like they may be the next evolution of how we pay for things, so it may be a good idea to educate yourself on the topic so you don’t get left behind! Japan has already allowed Bitcoin as a form of payment in many stores, and other countries may soon follow.
Brian Kelly, a highly regarded CNBC analyst and founder of cryptocurrency-focused hedge fund BKCM, laid out three major reasons to invest in bitcoin in the short-term.
The rise of bitcoin is seeing an increasing number of students signing up for cryptocurrency classes at top computer science schools such as Stanford.
Bitcoin exchange Coinbase has clarified its position on the upcoming SegWit2x hard fork, stating that it will use accumulated network difficulty to determine which blockchain the company will label “Bitcoin” following the fork.
On Monday, David Farmer, Coinbase’s director of communications, published a blog post revealing the rapidly-growing bitcoin exchange’s stance on SegWit2x. In the announcement, he seemed to indicate that Coinbase would continue to call the incumbent blockchain “Bitcoin” and would label the forked blockchain “Bitcoin2x”. From the post:
The Australian government has published draft laws for “an enhanced regulatory sandbox” that will go easy on FinTech startups by letting them operate without a full license.
For the past two days, the bitcoin price has struggled to recover beyond $5,500, after surging above $6,000. Analysts have attributed to the recent decline in the price of bitcoin to the upcoming Bitcoin Gold hard fork, and the lack of support from the community.
Initial coin offering (ICO) fundraising crossed another significant milestone this month, racing past the $3 billion mark for the year despite increased attention from regulatory agencies across the world.
Back in May, CCN covered the story of a redditor that went by “gingerbreadfutters.” The redditor published a thread in which he claimed to have been watching bitcoin price trends for a while and, being a risk taker, decided to put it all-in on bitcoin. According to him, hetook an equity loan on his house for $325,239, which allowed him to purchase 191.118 bitcoin.
Top 10 Things Bitcoin Can Do
People who are new to Bitcoin are led to believe that Bitcoin is just a currency or a store of value. This couldn’t be further from the truth. Bitcoin, as a currency, is just the beginning. It is only Bitcoin’s first “app,” like email was how the Internet was first introduced to the masses. The Internet is so much more than just email; similarly, we haven’t even scratched the surface to what Bitcoin is. Some of these features are available right now, while some are being developed for future applications as we speak. Just like the Internet didn’t have YouTubes and Facebooks back in 1994, we’ve only just begun to transition from “The Information Age” to the “The Bitcoin Age.”
Venture capitalist Fred Wilson is not a hoarder of Bitcoin. He doesn’t care about that aspect of Bitcoin, but rather he is interested in the promise of Bitcoin as programmable money.
Now, he started buying it again after staying mostly on the sidelines for most of the past two years. He thinks that the market price of Bitcoin in the short term is driven by emotion (greed vs. fear), liquidity, technical factors, and a bunch of other things. Right now, those factors are driving down the price of Bitcoin. Last year they drove it up.
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