Tag Archives: Bitcoin

Bitcoin rallies to move closer to $5k as Ether slides

Source: MarketWatch

"Bitcoin rallied on Thursday in a bid to reclaim its all-time high of $5,000 as jitters over China’s move to declare initial coin offerings illegal further receded. One bitcoin climbed 1.4% to $4,679.60. However, ether, which trades on the Ethereum platform, slid 1.9% to $331.42, according to data from Coindesk.com. The Chinese government last weekend indicated that it will ban initial coin offerings, triggering a big selloff in digital currencies." (09/07/17)


Bitcoin drops by $1000 and no one cares

Source: Foundation for Economic Education
by Jeffrey A Tucker

"Five years ago, the following would have been inconceivable. In a 48-hour period, the dollar/bitcoin exchange ratio dropped fully $1,000. A day later, half the gains came back. In the Bitcoin community, this was hardly discussed at all. Not even the websites and writers specializing in the topic wrote much about it. Hysterical claims that 'Bitcoin is dead' were at a minimum. To me, that’s mind blowing. It’s a different world from the one I entered when I received my first bitcoin. A friend tells me he made a fortune when he bought Bitcoin for pennies, and sold it all when it became $2. His thinking: there is no way this digital nothing could be worth twice per unit the value of the world's strongest currency. He never bought again. Whoops." (09/07/17)


Chinese mining pool reneges on Bitcoin "New York Agreement"

Source: CoinDesk

"Chinese mining pool F2Pool no longer supports the controversial scaling agreement Segwit2x. … Although F2Pool was an original signatory of the agreement, its operator Wang Chun is now among the proposal's detractors. … While F2Pool has flipped, however, other mining pools seem to be steadfast, again, most claiming they'll follow through with Segwit2x. 'We are strong supporters of the New York Agreement (Segwit2X). We support scaling bitcoin and doing so responsibly. We hope that the hard fork part of Segwit2X will also be upheld,' said BTCC CEO Bobby Lee. Bitfury CEO Valery Vavilov echoed this sentiment, saying, 'The initial agreement for SegWit2x has not changed.' Even with support still high, major mining pool Slush Pool, who did not sign the agreement when it was orignally released, remains undecided." (08/31/17)


Bitcoin software wars: The battle between nodes, hashpower and developers

Source: Bitcoin.com
by Jamie Redman

"While many bitcoiners have been focused on the competition between Bitcoin (BTC) and Bitcoin Cash (BCH), another significant battle is taking place. Many grueling arguments between bitcoin Core developers and their supporters, Segwit2x (Btc1) developers and proponents of the New York Agreement continue to fuel tension throughout the entire cryptocurrency community." (08/22/17)


US tax thugs are spying on Bitcoin users

Source: Daily Beast

"You can use bitcoin. But you can't hide from the taxman. At least, that's the hope of the Internal Revenue Service, which has purchased specialist software to track those using bitcoin, according to a contract obtained by The Daily Beast. The document highlights how law enforcement isn't only concerned with criminals accumulating bitcoin from selling drugs or hacking targets, but also those who use the currency to hide wealth or avoid paying taxes. … The contractor in this case is Chainalysis, a startup offering its 'Reactor' tool to visualize, track, and analyze bitcoin transactions. Chainalysis'[s] users include law enforcement agencies, banks, and regulatory entities. The software can follow bitcoin as it moves from one wallet to another, and eventually to an exchange where the bitcoin user will likely cash out into dollars or another currency. This is the point law enforcement could issue a subpoena to the exchange and figure out who is really behind the bitcoin." (08/22/17)


Reports: Lightning Network will come to Bitcoin "from tomorrow"

Source: Cointelegraph

"Lightning Network transactions will be available for Bitcoin from tomorrow, rumors are suggesting. Just under two weeks after SegWit locked in for the Bitcoin network, Lightning, which offers considerably faster and cheaper transactions for more users, may appear sooner than planned. Tweeting the as yet unsourced information, commentator Ferdous said that the so-called 'Layer 2' technology would be available 'from Tuesday.' … The technology powering Lightning is still in beta testing, with Blockstream having first tested it with Litecoin transactions back in May." (08/21/17)


If you love Bitcoin, promote good altcoins

Source: Freeman's Perspective
by Paul Rosenberg

"Bitcoin spawns strong emotions in people, once they wrap their minds around it. And for good reason, of course: Bitcoin is the future, being born in our midst. One of the ways this goes off the rails, however, is when people think about Bitcoin in the old way. In particular, they think of the crypto-economy as if it were a zero-sum game. They fear the altcoins (Litecoin, Ethereum and the rest) as competitors … that if the altcoins do well, they'll steal Bitcoin's thunder. If you're ever tempted to think that way, please reject it and leave it behind. That's the past struggling against the future, right inside your head. What we are building is not a monument to Bitcoin and Satoshi, but a new economy … a better, freer, less criminal economy. And please understand, Bitcoin alone cannot do the job. Bitcoin isn't magic; it's a tool." (08/18/17)


Is Bitcoin a bubble?

Source: Mises Canada
by Caleb McMillan

"According to an author over at CoinSpeaker.com, Bitcoin and Ethereum will never be in a financial bubble because 'digital bubbles are impossible.' He gives his three reasons, one of them being 'the Theory of Reflexivity which belongs to George Soros.' Do I think digital currencies are in a bubble? Yes. Bitcoin may function well as a payment system for people who don’t like traditional financial institutions, but the Fed’s dollars are still the reserve currency of the world. The supply chain is priced in US dollars, not bitcoins." (08/14/17)


Bitcoin vaults to new record above $4,000, boosted by Japan and multiplying its value fourfold


Source: CNBC

"The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. Bitcoin hit an all-time high of$4,225.40 early Sunday before slightly paring those gains to trade near $4,000, according toCoinDesk. The digital currency has now quadrupled in 2017, and is up about 40 percent in August alone. Bitcoin's market value is now around $64 billion, up about $10 billion in the last week." (08/12/17)


Segregated Witness (SegWit) locks in on Bitcoin

Source: Coinjournal

"Segregated Witness (SegWit), a software improvement to the Bitcoin network, has reached its lock-in threshold, now heading towards the two-week 'grace period' before full activation. The upgrade reached the necessary threshold yesterday with a 100% of bitcoin mining pools signaling support for the proposal. The two-week waiting that follows will give users and mining pools the time to upgrade to the new software. After that period, which is set to end on August 21 or 22, SegWit will activate and miners will start rejecting blocks that do not support the change." (08/09/17)