Tag Archives: cryptocurrency

Bitcoin’s new scaling “agreement”: The reaction

Source: CoinDesk

“A meeting of bitcoin startup executives and miners held this weekend has resulted in the publication of a new proposal for how the open-source project should be upgraded to support additional transaction capacity. Detailed in a Medium post published by investment firm Digital Currency Group today, the proposal was billed as an agreement that would make two changes toward this stated goal. The proposal was signed by more than 50 companies, and claims to have support from 83% of the network’s miners — businesses that operate computers that secure the blockchain and add new transactions to it.” (05/24/17)


Government has done nothing good for Bitcoin

Source: Foundation for Economic Education
by Jeffrey A Tucker

“We need a nongovernment, global currency that is reliable, secure, universally available, unmediated by financial authority, and tied to real ownership. We didn’t entirely know that we needed this — and we didn’t know it was technically possible to do this entirely in a digital realm — until Bitcoin came along. Now we do and there is no going back. It operates on its own just fine. All government can do — now just as in the past — is slow the growth and keep the future from happening as quickly as it should.” (05/23/17)


Bitcoin Pizza Day: Reliving the memories and forging new ones

Source: Bitcoin.com
by Jamie Redman

“The Bitcoin network had been in operation for a little more than a year on May 22nd, 2010 when a developer named Laszlo Hanyecz purchased two pizzas using the forum Bitcointalk.org. The trade Hanyecz made that day is widely celebrated every year by bitcoiners as it is considered the first real-world transaction using bitcoin as a medium of exchange. ‘I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe two large ones, so I have some leftover for the next day — I like having leftover pizza to nibble on later,’ explained Hanyecz.” (05/22/17)


Bitcoin surges past $2000 for the first time

Source: TechCrunch

“The world’s most popular cryptocurrency is now worth over $2,000 per coin. That’s according to a range of bitcoin exchanges, including Coinbase and Kraken. That valuation puts the total market cap of bitcoin — the total number of coins in circulation — at $32.92 billion.” (05/20/17)


Bitcoin: Decentralized governance put to the test

Source: American Institute for Economic Research
by Max Gulker, PhD

“Bitcoin’s system of radically decentralized governance is facing perhaps the biggest test in the digital currency’s history. As my colleague Patrick Coate described, the code used to run Bitcoin’s blockchain database needs to be updated to transmit more information faster. However, there are two major proposals on the table for how to change the code. The controversy has raged for months and may even result in Bitcoin splitting into two currencies. Many of Bitcoin’s greatest strengths come from its decentralized nature, but if there were somebody at the center of its network making decisions, the current problem would look very different. The governing body would choose one path, and those who didn’t like it could sell their Bitcoins. This structure would resolve the uncertainty much faster, and not result in a split that would likely scare off some potential Bitcoin users. The decentralized structure of Bitcoin is not, alas, a free lunch.” (05/16/17)


Bitcoin plunges $200 after cyber attackers demand ransom using the digital currency

Source: CNBC

“Bitcoin plunged from a record high hit last week to below $1,700 after cyber attackers locked up data in 200,000 computers Friday and demanded ransom in the digital currency. ‘It’s a big hit to sentiment,’ said Brian Kelly, CEO of BKCM. ‘This is some negative publicity for bitcoin.’ Bitcoin fell more than $200 from an all-time high of $1,848.75 reached Thursday to a low of $1,644.64 Friday. The cryptocurrency steadied over the weekend and on Monday traded more than 5 percent lower on the day near $1,676.42.” (05/15/17)


Bitcoin crosses $1,800 for the first time adding $3 billion in market cap in just four days

Source: CNBC

“Bitcoin surpassed $1,800 on Thursday to a fresh record high, rising more than $100 in just two days, driven by comments from policy makers and positive noises around the future of the cryptocurrency. The price of the digital currency was trading at around $1,824 by early morning in London, according to Coindesk’s bitcoin price index. It breached $1,700 for the first time on Tuesday. Since Monday, the market capitalization of bitcoin has risen over $3 billion to $29.53 billion. The price of bitcoin has soared 81 percent since the start of the year.” (05/11/17)


Bitcoin soars above $1,700 as market cap adds $1 billion in just 24 hours

Source: CNBC

“The price of bitcoin rose above $1,700 Tuesday morning, according to a price index by industry website Coindesk. With the price so high, analysts are contemplating what risks could scuttle its recent surge. The digital currency has been rallying significantly in recent weeks. Over one month, the price has increased by 43 percent, according to Coindesk figures. Over one year, the market capitalization for bitcoin has increased massively, from around $7.16 billion in May 2016 to $27.9 billion today. In just the last 24 hours its market capitalization has risen by over $1 billion, according to the website’s price index.” (05/09/17)


Bitcoin hits $1,600 for the first time

Source: CNBC

“Bitcoin is ‘fully valued’ and could see a pullback in the short term after hitting $1,600 for the first time on Monday, according to one investor, but the price could go as high as $4,000 over the next 14 months. The cryptocurrency has been on an upward move since April and was trading around $1,575.52 by early afternoon trading in London after hitting an all-time high $1,601.05 during morning trade, according to the Coindesk bitcoin price index. In the last 30 days, bitcoin has risen over 33 percent.” (05/08/17)


Bitcoin blows through $1,500 for the first time

Source: Business Insider

“Bitcoin cleared the $1,500 level for the first time ever late Wednesday. The cryptocurrency trades up 2.8% at $1,544.43 a coin as of 7:07 a.m. ET. It’s higher for the 14th time in 15 days, gaining more than 32% over that time. The recent rally has lacked any real catalyst, with traders seemingly keying in on hope the US Securities and Exchange Commission will reverse its decision to the reject the Winklevoss ETF. A decision is due by May 15.” (05/04/17)