Tag Archives: cryptocurrency

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)

https://www.freemansperspective.com/if-you-love-bitcoin-promote-good-altcoins/

Why cryptocurrencies will never be safe havens

Source: Ludwig von Mises Institute
by Mark Spitznagel

"Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age — the new gold. But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a new technology, specifically the blockchain. Think of the blockchain, very basically, as layers of independent electronic security that encapsulate a cryptocurrency and keep it frozen in time and space — like layers of amber around a fly. This is what makes a cryptocurrency 'crypto.' That’s not to say that the price of Bitcoin cannot make further (and further …) new highs. After all, that is what speculative bubbles do (until they don’t). Bitcoin and each new initial coin offering (ICO) should be thought of as software infrastructure innovation tools, not competing currencies." (08/15/17)

https://mises.org/blog/why-cryptocurrencies-will-never-be-safe-havens

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)

https://www.mises.ca/is-bitcoin-a-bubble/

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

CNBC

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)

https://www.cnbc.com/2017/08/12/bitcoin-vaults-to-new-record-above-4k-boosted-by-japan-and-multiplying-its-value-fourfold.html

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)

https://coinjournal.net/segregated-witness-segwit-locks-bitcoin-price-hits-new-time-high/

Bitcoin soars to record as buyers look beyond miners' split

Source: Bloomberg

"Bitcoin extended gains to a record, ignoring a split in the cryptocurrency over its future. The digital exchange rate jumped as much as 16 percent from Friday to an unprecedented $3,292.41, even after bitcoin’s division last week. The debate has revolved around how to upgrade its underlying technology, with a group of developers backing a solution called SegWit2x against miners — some of whom have created an offshoot called Bitcoin Cash — who want to increase the size of data blocks more drastically." (08/07/17)

https://www.bloomberg.com/news/articles/2017-08-07/bitcoin-soars-to-record-as-buyers-look-beyond-miners-split

Blockchain data suggests someone is trying to slow down Bitcoin Cash

Source: Bitcoin.com

"It's been five days since the fork, and the Bitcoin Cash (BCH/BCC) blockchain is still on the move as 85 blocks have been processed by miners so far. The 85th block was mined by the mining pool Bitclub, a newcomer to the BCH network. The BCH chain is moving a bit more consistently now, but mining profitability and the gaming of the currency's mining difficulty continues to be a struggle for the newly born network. … Miners who support the new chain want the difficulty to drop. The difficulty did eventually fall several times, but the price also dived into the low $200s as well, making it 311% more profitable to mine on the BTC chain. The next difficulty drop should lock in soon and the Bitclub pool entry may indicate more miners are becoming attracted to this chain. Some people think a 'malicious' miner might be gaming the network, to hinder further difficulty adjustments." (08/06/17)

https://news.bitcoin.com/blockchain-data-reveals-someone-is-trying-to-slow-down-bitcoin-cash/

Bitcoin.com Podcast, 08/03/17

Source: Bitcoin.com

"Chris Kline the COO of Bitcoin IRA tells the Bitcoin.com podcast how the company got started offering a retirement plan based off of bitcoin." [Flash audio or MP3] (08/03/17)

https://news.bitcoin.com/new-bitcoin-com-podcast-episode-with-bitcoin-iras-chris-kline/

BTC-e closure: Clients are Mt Goxed by the US — a new front in crypto wars

Source: Bitcoin.com
by Wendy McElroy

"For the first time, the U.S. government attacked a foreign exchange on foreign soil. It closed down the Russian-based exchange BTC-e. (Russian-based refers to ownership, not location.) BTC-e reported, 'On July 25 … the FBI staff came to the data center … and seized all equipment, the servers contained databases and purses of our service.' BTC-e is charged with 21 violations of U.S. financial law; the Financial Crimes Enforcement Network also hit it with a $110,003,314 penalty. The move was stunning not only because BTC-e is one of the oldest and largest exchanges but also because many now locked accounts are owned by U.S. citizens, non-residents." (08/01/17)

https://news.bitcoin.com/btc-e-closure-clients-are-mt-goxed-by-the-u-s-a-new-front-in-crypto-wars/

Cryptocurrencies and governance, these things are happening

Source: Everything Voluntary
by Skyler J Collins

"It's a marvel to me to witness what is happening on planet Earth as it regards cryptocurrencies. Satoshi Nakamoto, whoever or whatever he/she/zhe is, began a revolution as big as the wheel and the printing press and the Internet that came before it, or so it seems to me. Over $93 billion dollars, and counting, have poured into the cryptocurrency market since Bitcoin was released in 2009. Millions of individuals have come together without central direction to build this worldwide phenomenon. Changes are happening every day that have global ramifications, all of which are happening without permission by governments, and often in spite of governments' supposed authority to control other people." (08/01/17)

http://everything-voluntary.com/cryptocurrencies-governance-things-happening