On this trajectory it won’t be long before one Bitcoin is worth $1 million a pop
By Fred Schebesta, Co-Founder & CEO of finder.com.au Eight years ago, if I told you you’d be a millionaire today if you invested in Bitcoin, would you buy it? Back then, Bitcoin was one of the first cryptocurrencies to hit the market and had a price tag of $0.08 ($US0.06) per coin, as recorded in 2010. This month, it hit a record of $10,417 per coin. You would have only needed to buy 95 coins at a total cost of $7.68 to be worth $1 million today. Based on this trajectory, it won’t be long (perhaps a few years) before one Bitcoin will be worth $1 million a pop. It’s […]
Bitcoin’s rollercoaster ride: $50 billion wiped off before cryptocurrency bounces back
Bitcoin is proving that investing in digital currencies isn’t for the faint of heart. After plunging as much as 29 per cent from a record high following the cancellation of a technology upgrade on November 8, the largest cryptocurrency came roaring back in early trading Monday before fluctuating between gains and losses. “Crypto trading is not for the novice investor,” said John Spallanzani, chief macro strategist at GFI Securities in New York. While multiple reasons are being cited for the price volatility, one of the more viable is that some investors are switching to alternative coins. Bitcoin cash, an offshoot of bitcoin that includes many of the technical upgrades being […]
Novatti partners with Lightyear
Novatti Group has partnered with Lightyear.io to progress the integration of the Novatti platform into the Stellar network, aiming to build a global money transfer solution. Lightyear.io supports partner integrations for the Stellar network, an open-source blockchain network that provides interoperability between financial institutions and different payments, making cross currency and cross asset payments much faster, more efficient, and less costly. The Novatti platform is already capable of integrating with blockchain and Bitcoin technology to enable payments to and from Bitcoin account holders. Source: Novatti partners with Lightyear – The Australian
Bitcoin moves smoothly into ‘real’ cash
News that bitcoin ATMs are being installed in larger numbers around Australia shows the growing popularity of the online currency, at a time when we are using cash less and less. Bitcoin joins the thousands of currencies around the world that are generally known as ‘complementary’ to the official monetary system. But it is one of the most successful. A big draw for bitcoin users is that it is supposed to be reasonably anonymous. Once a person has signed up to the bitcoin system, the blockchain, they can set up any number of ‘addresses’ and use them for sales and purchases. Another reason for its popularity is that it cuts […]
Why Twitter is taking the place of r/Bitcoin and Bitcointalk
Many Bitcoin core developers, business leaders and commentators post more often on Twitter than in crypto-related forums, such as Bitcointalk and the r/bitcoin subreddit. They engage in heated debates on the state of cryptocurrency. See this tweet from Samson Mow, the chief strategy officer at Blockstream, and the conversation that followed it: A check on core developer Peter Todd’s Reddit username discloses that he posts there a few times a week. However, he posts and engages other users on Twitter several times daily. Cornell University professor Emin Gün Sirer, one of the most known crypto security experts, also posts almost daily on Twitter, but never on Bitcointalk or Reddit. If […]
Bitcoin to consolidate at $US8000 a coin: Goldman Sachs
Technical analysis of the unorthodox Bitcoin market has led Goldman Sachs to believe the major cryptocurrency is set to consolidate at $US8000 ($10,500) a coin. After a month that saw Bitcoin soar beyond $US5000, $US6000 and then $US7000 a coin, technical analysts Sheba Jafari and Jack Abramowitz have warned traders against betting on a near-term boost past $US8000. Applying the Elliott wave theory, the analysts deduced the crypto-asset is likely to consolidate at this price for a time, as it marks “the third of five waves up”. “The market has shown evidence of an impulsive rally since breaking above 6044,” said Sheba Jafari, vice-president of the bank’s FICC Market Strats […]
Bitcoin surges to record high as controversial software ‘fork’ upgrade cancelled
Bitcoin jumped as much as 11 per cent to $US7,882 after the main architects behind an upgrade to its underlying technology known as Segwit2x, which would have caused the chain to split in what’s known as a hard fork, cancelled their controversial plans. Bitcoin experts cited a statement on the Linux Foundation website, signed by several high-profile bitcoin entrepreneurs and developers who had backed the plan, that said the “Segwit2x” upgrade would be scrapped for now as it could “divide the community”. The upgrade would have changed bitcoin’s rules in a so-called “fork”, effectively cloning the existing bitcoin to create another cryptocurrency. “Our goal has always been a smooth upgrade […]
A Focus on the Digital Currency
When the Internet was invented, everyone began to look for ways to make money online. Most of these ways involved using the power and connectivity of the Internet to improve upon old industries. Advertising, retail, communications – everything was being disrupted. The banking industry was the last to be disrupted because of all the regulatory restrictions that are in place with respect to the management of money. Options like PayPal began to emerge as early as 1998, but these systems were mostly just centralized online managers of fiat currency rather than completely new digital currencies. The first true digital currency that has ever received mainstream attention is Bitcoin. It was […]
