Bitcoin News 16 January 2017

Bitcoin Today… and we made it through the weekend with the bitcoin price stabilizing around the $800 mark and above. We are coming up to the Chinese New Year on 28 January… what impact will this event have on the bitcoin price? Any guesses? Other Bitcoin news headlines – Quoine Becomes a top 5 Bitcoin Exchange due to Increased JPY Trading; Russia’s Relationship with Bitcoin May See Brighter Days Ahead; Things Bitcoin Companies Try To Patent; Why Industries May Experiment Smart Contracts via Bitcoin in 2017; Coinbase and the IRS…

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Is Bitcoin becoming a World Currency

On the 31 November 2008, just as we found ourselves part of a financial crisis that would impact the world negatively, a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto was uploaded onto a blogging site on the internet.  The paper detailed a way to use a peer to peer network to generate “a system for electronic transactions without relying on trust”.  And so, the Internet of Money was  born. Release of the first open source Bitcoin client was completed on 3 January 2009 and a few…

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Bitcoin showing signs of maturing

Some people are comparing the price movements in the beginning of 2017 to the rise and fall of the Bitcoin price at the end of 2013 into 2014.   However, Chris Burniske from ARK Invest, is of the opinion they are not the same and that Bitcoin is showing signs of maturing. Excerpt from Coindesk article states:- “Certainly, a similar narrative could be spun: bitcoin breaks $1,000, the People’s Bank of China issues some comments that scare people, bitcoin crashes. But if a few marketplace characteristics are investigated, I think…

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Bitcoin News 13 January 2017

Bitcoin Today… we are two weeks into January 2017 and it sure has been an eventful time. Two 8th Birthday’s were celebrated – 3 January marked 8 years since the first Bitcoin was mined and on the 12 January 2009, also 8 years ago, the very first Bitcoin transaction took place between Satoshi Nakamoto and Hall Finney. Two dates in January 2009 changed the World forever. The Bitcoin price has moved below the $800 mark. We must all bear in mind that Bitcoin is a new currency and that it…

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Bitcoin article of the week #2 – January 2017

The Bitcoin news this week was dominated by the Bitcoin price movement downward due to increased interest by the Chinese government into exchanges and enterprises. This being said, we believed we need to stress the importance of educating yourself on Bitcoin as well as keeping up with the latest news.   Knowledge will help you not to knee jerk if a bit of price volatility comes into play. Bit-Media’s mission is to educate and inform as many people as possible on the new digital economy. An important milestone was reached…

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Where in the World are Bitcoin Mines located?

Bitcoin mining is dominated by China with the top 4 mining pools within their borders according to the blocks mined during 2016. 20.67% blocks mined – AntPool is run by Bitmain, a Chinese mining hardware company headquartered in Beijing. “Bitmain technologies Limited is a Chinese IC design company founded in the first quarter of 2013, which specializes in research, development and sales for custom mining chips and miners. We aim to quickly deliver innovative and competitive custom hardware solutions to help the community. Bitmain is able to provide the most…

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Bitcoin sellers in panic mode are wrong

The first two weeks of 2017 will go down in Bitcoin history.  Bitcoin reached a high of $1161 exciting Bitcoiners everywhere as well as mainstream media such as Bloomberg, BBC, CNBC.  Bitcoin in the spotlight and no doubt pricked the interest of many who still do not know what Bitcoin is. Just as we were wondering when this massive bull run was going to slow down, the ball finally dropped.  On the 5 January, Bitcoin price fell by 20%.  The sudden drop could be related to the Chinese Central bank…

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Bitcoin News 11 January 2017

BREAKING NEWS – Developments in China – The People’s Bank of China want to regulate Bitcoin Exchanges and are currently meeting with them – they are carrying out an inspection and the process should take a week. Bit-Media mentioned previously that there will be volatility in the markets for the next few weeks. The price today dropped from $920 to $800 and $770 lower levels in China during the day. BTCC, OKCoin and Huobi indicated that they are open to increased oversight from the Chinese government or central bank. Time…

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State of the World… in Bitcoin

A very interesting article was published by The World Economic Forum on the State of the World 2016.  We can relate some of these charts to Bitcoin and the blockchain technology. ENABLING TRADE ACROSS BORDERS – Singapore, the Netherlands and Hong Kong (China) are embracing bitcoin for over-boarder payments.  Bitcoin is a border-less payment system and value be transferred from country to country in a matter of minutes, irrelevant of the value transferred, and at minimal cost vs the traditional method of payment system.  Normally it would take up to…

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Is 2017 the year of Bitcoin ETF’s – Exchange Traded Funds?

Bitcoin ETF’s are in the spotlight – could 2017 be the year for the first Bitcoin ETF to be approved?  If approved, the flood gates will open and the Bitcoin price will soar as it means that thousands of traders will be able to trade Bitcoin on the stock exchange without even opening a Bitcoin wallet. There are two funds awaiting approval, the Winklevoss Bitcoin Fund and SolidX – both have been pushed out for approval by the SEC by March 2017.  Should either not be approved, or the application…

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