Cryptocurrency News for 23 Sep 2017
5 Reasons to Invest in Bitcoin Before Sept 30th
The Bitcoin bubble refuses to burst. Even old school currency traders are now rushing to get a piece of the action. Because on the 30th of September US Congress is expected to do something that could send valuations skyhigh. And if that happens, fortunes will be made.
To an outsider, investing in Bitcoin looked like a white knuckle ride. Its value would steadily creep up for years before nerves and bad headlines sent it tumbling. The use of Bitcoin for nefarious services on the “dark web” such as the infamous “SilkRoad” using the TOR browser didn’t help its cause. Because of this bad press, it seemed only a matter of time before the established players pulled some strings to get the upstart currency shut down.
However, it’s reckless teenage years are now behind it. It’sxpected to be legitimized and embraced by roughly 260,000 businesses. And Bitcoin is not the only cryptocurrency set for a bright future
I had the pleasure to speak to Louis Basenese, a former Wall Street investor who directed over $1 billion in institutionalcapital at Morgan Stanley. Louis told me how he repeatedly witnessed how the big banks would “screw over the little guy”. He saw how they’d purposely make investment seem so complex that few dared challenge their right to manage their own money. Anyone who is in the financial markets industry knows this is total bull. Louis got fed up with this “bull” and hence why he got so excited about cryptocurrencies such as BitCoin.
Full story at http://bit.ly/2jSWTx6
Source: Huffington Post
Bank of Russia Opposes Cryptocurrency Legalization, Worried About ‘Loss of Control’
Russian President Vladimir Putin met with representatives of the Russian business circles and associations on Thursday. The meeting was attended by over 50 business leaders, CEOs of leading companies, banks and public organizations.
At the meeting, Elvira Nabiullina, the head of Russia’s central bank, spoke out against the legalization of cryptocurrency in Russia. This was conveyed to journalists on Thursday by the president of OPORA Russia public association, Alexander Kalinin, according to Tass. Regarding cryptocurrencies, the central bank “opposed their legalization in the Russian Federation,” he explained, noting that:
Full story at http://bit.ly/2jT1rDP
Source: Bitcoin News
Why Real Estate Industries in Miami and UAE are Embracing Bitcoin
The Miami real estate industry is gradually embracing Bitcoin as realtors realize the merits and advantages of utilizing the Bitcoin network to facilitate the transfer of large-scale transactions.
For many years, the Bitcoin community and experts within the cryptocurrency sector have debated the fundamental purpose of Bitcoin; whether it should operate more as a store of value or a digital cash system that is capable of processing small transactions with substantially low fees like Visa.
As of current, Bitcoin qualifies as both a store of value and a digital cash system. The integration of the Bitcoin Core development team’s transaction malleability and scaling solution Segregated Witness (SegWit) has significantly reduced Blockchain congestion within the Bitcoin network, decreasing the size of the Bitcoin mempool-the holding area for unconfirmed transactions-and the average Bitcoin block size. More to that, less than three percent of Bitcoin’s transactions are SegWit-enabled. As the ratio of SegWit-enabled transaction increase to over 50 percent, Bitcoin transactions will become even cheaper.
As a result, more merchants, investors and users have started to consider and adopt Bitcoin as a financial and a settlement network that is capable of processing both small and large transactions. Within the real estate industry, the majority of transactions or payments are in the millions. But, to process multi-million dollar transactions, banks require extremely high fees, sometimes up to thousands of dollars per transaction.
Full story at http://bit.ly/2jTwEGU
Source: CoinTelegraph
Jamie Dimon’s Bitcoin Statements Reported as Market Abuse in Sweden
Just recently JP Morgan Chase chief executive Jamie Dimon got the cryptocurrency community all riled up when he called bitcoin a “fraud.” Further, after Dimon’s statements and bitcoin markets slumped, JP Morgan Securities Ltd., purchased a bunch of bitcoin-based exchange-traded notes for its clients. Now according to reports, an algorithmic liquidity provider headquartered in London called, Blockswater says Dimon breached certain statutes from the European Union’s Market Abuse Regulation (MAR) articles.
Blockswater believes Dimon abused the market by giving out misleading information in order to influence the price for the company’s own interests. Market manipulation is a criminal offense within EU laws after being harmonized by the Financial Services and Markets Act seventeen years ago. The UK liquidity provider believes something smells fishy between Dimon’s recent bitcoin statements and JP Morgan buying up BTC-notes for clients after the price dip.
“Jamie Dimon’s public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system,” said Blockswater executive Florian Schweitzer.
Full story at http://bit.ly/2jRnlXP
Source: Bitcoin News
It’s possible that in the last few years, you’ve stumbled across a person or company that uses bitcoin. But what is it? Bitcoin is an emerging encrypted form of digital money, or cryptocurrency, that’s growing in popularity and value internationally.
Started in 2009, bitcoin is attractive to users and investors because of its immediacy, lack of oversight and anonymity. The only identifier of a bitcoin account is the wallet ID - no names, emails, zip codes or even IP addresses. It can be translated into US dollars either digitally or at bitcoin exchanges around the world.
Bitcoin doesn’t have a supervising body so transactions have no one to review them, no guidelines. Since it’s encrypted, it opens the possibilities for lots of people to interact on the international market with digital money. The upside to that is immediate transfers, no waiting period, and no fees. This is a large selling point for international businesses but, and this is the down side, that’s also a draw for lesser legitimate operations like narcotics and arms dealers.
As bitcoin has gained popularity around the world, investors started funding and trading with companies operating in bitcoin and has since created a bitcoin marketplace, much like the stock market. Bitcoin values rise and fall by the minute and participants are trading values constantly in attempts to maximize their profits.
Full story at http://bit.ly/2jRno5X
Source: Huffington Post
Major Japanese Travel Agency Accepts Bitcoin and Offers Bitcoin-Exclusive Deals
H.I.S. Co. Ltd will start accepting bitcoin payments on September 23 through Bitflyer, as announced by both companies on Tuesday. The transaction amount for purchases will be limited to the equivalent of 2 million yen. The companies claim that H.I.S. is the first major company in the Japanese travel industry to accept the digital currency.
Founded in December 1980, H.I.S. is a Tokyo-based travel agency specializing in low-cost package tours. Among the group’s many businesses are two theme parks, Huis Ten Bosch and Laguna Ten Bosch. In June this year, Japan Tourism Agency (JTA) provided an analysis of 49 major Japanese travel agents. It showed that H.I.S. ranks second for outbound travel for the year ending February 2017, behind only the industry leader JTB.
According to H.I.S.:
Full story at http://bit.ly/2jRnlqN
Source: Bitcoin News
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Wonderful post. I believe it's not just Elvira Nabiullina, the head of Russia’s central bank that is 'scared' of the potential of crypto currencies like bitcoin and steem, most other heads of Central banks in other countries will be too, cause like you said, they can nolonger monitor the inflow of money into a country, and this gives the power over people's money back to the people. GOOD POST. TANX
Yes Governments may try to stop Bitcoin and even ban it but the will of the people cannot be stopped. It will drive bitcoin underground in some countries but it will never stop it.
Very true, bitcoin is the currency of the people, and its here to stay, government can't stop it.
https://steemit.com/@lenabryant
upvoted & resteemed!
Nice piece, any thoughts or additional research points you can direct readers to regarding the Congressional decision coming through September 30th? Thanks
Upvote & resteem .. follow @lurehound
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STOPGreat enjoy a lot want to see more of this in future. @sydesjokes
Sadly I still can't afford even a single bitcoin. If I had the funds I would jump on it in a heartbeat.
@guarddog you asked the right guy to help you out.
Don't need to buy a whole bitcoin. Just buy $10 of bitcoin a month.
How?
Go to an Exchange like Coinbase and make a Bitcoin purchase for $10.
http://csyd.es/Coinbase
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Resteem and upvote.
Bitcoin is not really a bubble anymore.
While it is still volatile, it has also proven to extremely resilient.
With most banks and governments working together to stop or slowdown cryptos, there are other institutions embracing it.
It will not take long until some nations will embrace bitcoin, this will give a massive boost to their economy.
Just imagine one country allowing bitcoin as an official currency, you would open the gates for all crypto businesses now scattered all over the internet.
Exciting times, and at the same time, let's keep an eye out for government interference and involvement, they are not to be trusted.