Will Bitcoin Become a Global Internet Currency?

Will Bitcoin become a global internet currency?

What would it take for Bitcoin to become the world’s global Internet currency? Several things. To become a global Internet currency, the granddaddy of cryptocurrencies would need to overcome the volatility, scalability, high transaction fees and speed issues that are, sadly, synonymous with Bitcoin today. While it you can use Bitcoin for purchases, because of its volatility, Bitcoin is treated mostly as a store of value. And because Bitcoin transactions are largely inefficient and expensive, using it for purchases makes no sense. individual and professional investors who are “long” on…

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When Will Miners Be Disincentivized to Mine Bitcoin?

When will miners be disincentivized to mine bitcoin?

There can only ever be 21,000,000 Bitcoin. At first the prize (aka the “block reward”) for a miner solving a hash was 50 Bitcoin. But the way Bitcoin’s blockchain works, the block reward is cut in half after every 210,000 blocks are solved. After the final 6,930,000th block, there will be no new Bitcoin created. But the network doesn’t just stay secure if no one works on it… The mining has to happen… or Bitcoin disappears. What will the rewards be then to secure the network? Bitcoin Halving Dates Bitcoin…

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JP Morgan Bitcoin Bible… Add Cryptos To Your Portfolio?

JP Morgan Bitcoin Bible

Last night the JP Morgan Bitcoin Bible was published for its private clients by JP Morgan Markets. The Bitcoin Bible, or “Cryptobible” was first reported by Zero Hedge. The Cryptobible is 71 pages of analysis and evaluation of the cryptocurrency market, Bitcoin, Ether, Bitcoin Cash, Ripple/XRP and other crypto assets and cryptocurrencies. The report should be of great interest to anyone who has followed the comments by JP Morgan’s CEO Jamie Dimon about Bitcoin being a fraud and others’ comments at the firm about Bitcoin being a pyramid scheme. Quotes…

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What is Cloud Mining and Is It a Good Business?

What is Cloud Mining

With the price of a single Bitcoin recently spiking near $20,000, cryptocurrency miners are facing even more intense competition to mine coins. Investors wanting in on the mining game are getting creative with ideas both malicious and benign. Honorable, would-be miners who are new to the game are considering cloud mining services, which eliminate the need to own expensive mining hardware. But is cloud mining for Bitcoin and other cryptocurrencies a safe or good business? What Is Bitcoin Mining? Traditional Bitcoin mining is a competition between powerful computers on a peer…

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What Affects Bitcoin Price and Value?

What affects bitcoin price and value?

Bitcoin price and our perception of value in cryptocurrencies are driven by hype and speculation. Speculation is rooted in our sentiment about the price of a particular coin or token, and whether it will rise of fall. Sentiment is a feeling, emotion or attitude about a particular situation, or things, such as cryptocurrencies and Bitcoin. Positive sentiment means we believe Bitcoin price will rise, whereas negative sentiment means we believe the price will fall. With the rise of social media, blogs and viral news, there is evidence that positive or…

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How to Trade on Coinbase (Almost) for Free

How to use GDAX to save on Bitcoin fees

When I first decided to buy some Bitcoin, I decided two things: I would only wager money I was willing to lose. I would use the simplest method possible to get started. Coinbase was the best approach because of its simplicity. Why did I choose Coinbase? With over a thousand digital assets and cryptos out there, deciding which one(s) to buy can be exhausting. I wasn’t sure what a cryptocurrency was, or even the difference between a coin and a token. Obfuscating matters further, some cryptocurrencies are not traded in…

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Bitcoin, Gold and $17 Million in Lap Dances

James the Bitcoin Baron Altucher

Last night I went to a live Bitcoin vs. Gold debate between James “The Bitcoin Baron” Altucher and James “The Gold Guru” Rickards. James Altucher is a podcaster, author and blogger and is an expert on cryptocurrencies. He has been investing in Bitcoin since 2013 and famously made his book “Choose Yourself” available for sale using Bitcoin only. James Rickards is an attorney and investment expert who runs an artificial intelligence software firm and is very bullish on gold. The debate was on whether there is a bigger opportunity to…

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Stellar Lumens Displaces Litecoin as #6 Top Crypto

Will Stripe Add Support for Stellar Lumens?

Yesterday, Stripe announced that it would be halting support for Bitcoin on its payments platform. Besides being just generally awesome as an entrepreneur’s tool, Stripe was a pioneer in 2014 when it started accepting Bitcoin as a means of payment for online transactions. Soon after, popular e-commerce WordPress plugin maker WooCommerce integrated it into its Stripe payment gateway, allowing any WordPress site running WooCommerce to accept Bitcoin. Stripe processes >$20 billion in transaction volume every year. E-commerce sales are projected to reach $631 billion by 2020. This means Stripe has…

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Stripe Ceasing WooCommerce Bitcoin Payments

Stripe Bitcoin Patrick Collison

Stripe has announced that it has decided to stop accepting Bitcoin through its payment gateway. Stripe was a pioneer in online cryptocurrency payments, and was the first major payments company to incorporate Bitcoin into its platform back in 2014. The last day for Stripe Bitcoin payments will be April 23rd, 2018. This is a bummer for anyone who uses WooCommerce and wants to accept Bitcoin. WooCommerce is the most popular e-commerce plugin for WordPress sites. Why Is Stripe No Longer Accepting Bitcoin? The problem, as conveyed by Patrick Collison, one of…

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Crypto Rout

Crypto Rout!

The last few days brought a much needed crypto rout… The beating was enough to give you whiplash if you watched closely. Another reminder of why Bitcoin is a terrible currency. Indeed, it’s volatility also makes one question its effectiveness as a long term store of value. How much of this volatility is hacker related? How much is bank related? How much is political? WTF knows… One thing’s for sure, too many people are probably new to cryptocurrencies and don’t remember all the other Bitcoin crashes in the past. Crashes…

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