Bitcoin just surged past $2,000 for the first time

The worlds most popular cryptocurrency is now worth over $2,000 per coin. Thats according to a range of bitcoin exchanges, including Coinbase and Kraken. That valuation puts the total market cap of bitcoin the total number of coins in circulation at $32.92 billion.

Bitcoin has been on a tear this year, as this chart from Coindesk shows.

Bitcoinfirst broke the $1,000 valuation mark way back in 2013, but a combination of factors including the implosion of then-top exchange Mount Gox saw the currency drop in value. Support from financial institutions trialedbitcoin and blockchain-based services, and a general stability following new regulation in China,saw bitcoin return tothe $1,000 mark again at the end of last year. Since then, itsvaluation has continued to grow consistently through 2017.

When we wrote about bitcoin (and ethereum) hitting all-time highs back at the end ofApril, you could buy a bitcoin coin for$1,343. Now, some three weeks later, the valuation is up 50 percent. The price of a coin rose 12 percent over the past week alone.

But bitcoin isnt the only cryptocurrency on the rise. Ripple, the centralized currency that is aiming to be a settlement protocol for major banks, has surged more than 10x, or 1000% in under a month making it now the second most valuable cryptocurrency (only behind bitcoin) in circulation.

Similarly, ethereum, a cryptocurrency designed to function as a blockchain-based computing platform for developers, is now trading $130 per coin with a total market cap of just under $12B, which represents a a little more than a 2x increase over the last month.

The result of these increases is that bitcoin no longer constitutes the majority of the market cap for all cryptocurrencies. Today the total market cap of bitcoin represents just 47% of total cryptocurrencies up until a few months agoit consistently hovered around 80%.

Why have these other cryptocurrencies been performing so much better than bitcoin? Some say its because of bitcoins scaling issue. The currency has grown so large that the network is having trouble quickly confirming transactions unless users attach hefty fees for minors. And while the problem can be fixed with solutions like SegWit or Bitcoin Unlimited, the most powerfulminers (who effectivelycontrol the codebase of bitcoin) havent been able to come to a consensus on which new protocol to implement.

While increases of 10x in a month would typically be an obvious sign of a bubble, its a little different with cryptocurrencies because no one really knows how much they should be worth. Unlike a company there are no assets or revenues we can use to assess a predictable valuation. Soin one sense, a total cryptocurrency market cap of $70B is insane considering there is no tangible value behind it.

But on the other hand, if (any of) these cryptocurrencies actually replace or supplant a global store of value like gold, then $70B is nothing. For example, the total estimated value of all gold mined is around $8.2 trillion USD. Meaning that right now all cryptocurrencies put together dont even equal 1% of the worlds gold reserves. Similarly, there is currently about $1.5 trillion USD in circulation, meaning that all cryptocurrenciestoday are still worth less than 5% of USD in circulation.

The currency is in unchartered waters at $2,000, but some punditsbelieve it has the potential to reach $10,000 (or more). To achieve this the community would likely have to sort out the scaling issue, which would give investors confidence that bitcoins infrastructure be able to support it as it grows.

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The Future of Bitcoin Is Not as a Digital Currency

Circle unveiled itself at a bitcoin conference in 2014, vowing to take the digital currency mainstream. But like so many other startups that embraced this big idea at around the same time, its mission has changed.

In January, I met Circle CEO Jeremy Allaire for coffee in San Francisco. Even then, he was careful to paint his company not as a bitcoin operation but as an outfit that would help people easily trade good old-fashioned dollars with friends and family via a new smartphone app. And now, as it announced yesterday, Circle will no longer allow customers to buy and sell bitcoin.

Allaire says that Circle, a marquee startup backed by Goldman Sachs, never really saw bitcoin as a consumer technology. “When we founded this company three years ago, the vision was never to build a bitcoin company,” he says, comparing bitcoin to internet protocols like http or smtp. In other words, the company saw bitcoin as a behind-the-scenes technology, not as a mainstream digital currency that the average person would use to pay for goods online or in a physical store.

Well, all these years later, bitcoin is certainly not a mainstream digital currency. And Circle’s decision to stop operating as a bitcoin exchange is just the latest sign that it won’t become one anytime soon.

Despite big promises from early adopters, bitcoin is still plagued by tax and regulatory issues. And the bitcoin community is still fighting over its core technologya fracas that could significantly hamper bitcoin’s ability to expand in the near future.

As it backs out of services that let people buy and sell bitcoin, Circle is pointing these customers to another exchange, San Francisco-based Coinbase. But Coinbase is also moving away from services for consumers. It’s now focusing on running a new exchange where large institutions, not individuals, can move bitcoin. And as far back as February, Coinbase said it didn’t really want to operate as a bitcoin wallet, meaning it didn’t really want to provide a way for individuals to hold the digital currency and actually buy stuff with it.

In other words, like Circle, Coinbase is moving away from bitcoin as a digital currency and towards a world where it serves as the underpinning for other financial services. (The company is also facing its own legal headaches: Last week, a federal court ruled that the IRS could serve Coinbase with a summons that seeks information about its user accounts.)

Bitcoin has not become a mainstream currencyand it won’t anytime soon.

Still, as bitcoin’s prospects as a mainstream digital currency fade, Circle and many other companies believe that the blockchain, the distributed online ledger that underpins bitcoin, can serve as the basis for other applications and services. The bitcoin blockchain helps drive Circle Pay, the app that lets you trade dollars with friends and family. And the company just unveiled a new open source project called Spark that seeks to use the blockchain and similar distributed ledgers as a means of moving all sorts of currencies, something so many others are working on. Meanwhile, outfits like the R3 consortium are building new blockchain technology for big banks and other financial operations that can oversee the movement of stocks and potentially anything else that carries value.

That said, many of these efforts are also a long way from really happening. Goldman Sachs and three other institutions just pulled out of R3, and though R3 managing director Charley Cooper plays this down, the truth is that many big players are still unsure how these technologies will play out. The future of bitcoin and the blockchain remains unclear. What is clear is that 2016 is not the year they went mainstream.

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Ripple: cryptocurrency enjoys end-of-year surge – but will it endure?

Ripple, also known as XRP, peaks at more than $100bn and surpasses Ethereum to become second most valuable cryptocurrency after bitcoin

If 2017 was the year of bitcoin, the pioneering cryptocurrency that neared $20,000 in December, will 2018 be the year of Ripple?

The market value of Ripple, also known as XRP, rose more than 50% on Friday, to a record $85bn. Ripple continued to climb over the weekend, peaking at over $100bn, and now surpasses Ethereum ($72bn) as the second most valuable cryptocurrency after bitcoin ($237bn).

Friday’s sharp run-up puts the currency on track to have risen in value by more than 35,000% over the course of 2017. It began the year trading at around $0.006 and now sits at $2.25, according to coinmarketcap.com. Just three weeks ago, the currency was trading at 25¢.

According to Bloomberg, Ripple’s gains in 2017 have far outpaced the gains of Ethereum and bitcoin, which have gained roughly 9,000 and 1,400% year-to-date, respectively.

Ripple’s CEO, Brad Garlinghouse, said on Twitter on Sunday: “Proud to be ending 2017 with incredible momentum on a number of fronts! A huge, heartfelt thank you to the amazing @Ripple team, our great partners and an incredibly supportive $XRP community.”

The gains come as Ripple has made steps to establish itself as a coherent currency used by institutions. Established in 2012 and designed for interbank payments and settlements, Ripple has articulated a vision to ease the intense volatility experienced by other cryptocurrencies by establishing the structured sale and use of its currency.

The company has more than 100 banks signed on to its platform, RippleNet, and was recently accepted for testing by a consortium of Japanese banks. Global banks including Bank of America, RBC and UBS are also customers.

The company initially created 99bn XRP, and has released around 38bn. In May, Garlinghouse announced the company would place 55bn of its XRP into escrow and will unleash up to 1bn into the market each month.

Garlinghouse, formerly a senior executive at Yahoo and AOL, and CEO of the file transfer site Hightail (formerly YouSendIt), told the Wall Street Journal that the recent gains are a reflection of confidence in the coin’s development.

“We have real customers, really in production using this,” Garlinghouse, 46, said, “not science experiments. Science experiments are not a business model.”

Read more: www.theguardian.com

Why we should fear a cashless world | Dominic Frisby

Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance

The health food chain Tossed has just opened the UKs first cashless cafe. Its another step towards the death of cash.

This is nothing new. Money is tech. The casting of coins made shells, whales teeth and other such primitive forms of money redundant. The printing press did the same for precious metals: we started using paper notes instead. Electronic banking put paid to the cheque. Contactless payment is now doing the same to cash, which is becoming less and less convenient. In the marketplace convenience usually wins.

Thats fine as long as people are making this choice freely. What concerns me is the unofficial war on cash that is going on, from the suspicion with which you are treated if you ever use large sums of cash to the campaign in Europe to decommission the 500 note. Im not sure the consequences have been properly considered.

We already live in a world that is, as far as the distribution of wealth is concerned, about as unequal as it gets. It may even be as unequal as its ever been. My worry is that a cashless society may exacerbate inequality even further.

It will hand yet more power to the financial sector in that banks and related fintech companies will oversee all transactions. The crash of 2008 showed that, when push comes to shove, banks have already been exempted from the very effective regulation that is bankruptcy one by which the rest of us must all operate. Do we want this sector to have yet more power and influence?

In a world without cash, every payment you make will be traceable. Do you want governments (which are not always benevolent), banks or payment processors to have potential access to that information? The power this would hand them is enormous and the potential scope for Orwellian levels of surveillance is terrifying.

Cash, on the other hand, empowers its users. It enables them to buy and sell, and store their wealth, without being dependent on anyone else. They can stay outside the financial system, if so desired.

There are many reasons, both moral and practical, to want this. In 2008 many rushed to take their money out of the banks. If the financial system really was as close to breaking point as we are told it was, then such actions are quite justified. When Cypruss banks teetered on the cliff of financial disaster in 2011, we saw bail-ins. Ordinary peoples money in deposit accounts was sequestered to bail out the system. If your life savings were threatened with confiscation to bail out a corporation you considered profligate, I imagine you too would rush to withdraw them.

We have seen similar panics in Greece and, to a lesser extent, across southern Europe. Mervyn King, the former governor of the Bank of England, recently declared that banking was not fixed and that we would see financial panic again. In Japan, the central bank has imposed negative rates and you are charged by banks to store money. This is to try and goad people into spending, rather than saving. So much cash has been withdrawn from banks that there are now reports that the country has sold out of safes.

These are all quite legitimate reasons to want to exit the system. Im not saying we should all take our money out of the bank, but that we should all have the option to. Cash gives you that option. Why remove it? Its our money. Not the banks.

The telephone teaches us a useful lesson. At its peak in 2008, there were 1.3bn landlines for a global population close to 7 billion. Today more than 6 billion people have a mobile phone more than have access to a toilet, according to a UN study. Many assume that the mobile succeeded where the landline failed, because the superior technology made widespread coverage more possible. There is something to that.

But the main reason, simply, is that, to get a landline, you need a bank account and credit. About half of the worlds population is unbanked, without access to the basic financial services you need. Telecoms companies saw no potential custom, the infrastructure was never built and many were left with fewer possibilities to communicate. But a mobile phone and its airtime you can buy with cash. You dont need to be banked. Almost anyone can get a mobile and they have. The financial system was actually a barrier to progress for the worlds poor, while cash was a facilitator for them.

Six billion people around the world will have a smartphone by 2020. They will have pretty much everything they need to participate in e-commerce internet access, basically except the financial inclusion. Which is why there will be a huge role to play in the future for new forms of digital cash from Kenyas M-Pesa to bitcoin money you can use even if you are not financially included.

Cash has its uses for small transactions a chocolate bar, a newspaper, a pint of milk which, in the UK, are still uneconomic to process by other means. It will always be the fastest and most direct form of payment there is. I like to tip waiters, for example, in cash, knowing they will receive that money, without it being siphoned off by some unscrupulous employer. I also like to shop in markets, where I can buy directly from the producer knowing they will receive the money, without middle men shaving off their percentages.

It also has its uses for private transactions, for which there are many possible reasons, and by no means all of them illegal. Small businesses starting out need the cash economy. Poor people need the cash economy. The war on cash is a war on them.

If you listen to the scaremongering, youd start to think that all cash users are either criminals, tax evaders or terrorists. Sure, some use cash to evade tax, but its paltry compared to the tax avoidance schemes Google and Facebook have employed. Google doesnt use cash to avoid tax. Its all done via legislative means.

Cash means total financial inclusion, a luxury the better-off take for granted. Without financial inclusion and there will always be some who, for whatever reason, wont have it you are trapped in poverty. So beware the war on cash.

Read more: www.theguardian.com

Teenage bitcoin millionaire is back with a better Botangle

Erik Finman gained notoriety and a certainfameas a 14-year-old entrepreneur and bitcoin investor whod managed to turn a $1,000 investment in the cryptocurrency into more than a million dollars and a chance to never see the inside of a college institution.

Hailing from the small town of Post Falls, Idaho, Finman, the son of two Stanford-educated engineers whose small business sells big technology to the Defense Department, was a kid who never took to public education.

Unlike his brothers, Ross and Scott, the youngest Finman didnt respond to his parents curriculum of home-schooling and entrepreneurship and decided that a public education would be his way out into the wider world beyond the outskirts of a Coeur dAlene exurb (if Coeur dAlene can have an exurb).

Unfortunately, the public school system proved to be equally as ineffective as home-schooling for the young Finman, and at the tender age of 15 he had already turned on to bitcoin, tuned in to its wealth-creating allure and essentially dropped out.

He began making the tech-media speaking circuit discussing his rise to fame (and some fortune) through his bitcoin investments and his startup ideas.

Botangle, the first startup Finman launched, had as many as 20 developers around the world working on it, and is what provided his entre into the semi-rarified world of hucksters, hipsters, self-promoters, writers, entrepreneurs, inventors and the internet-famous that comprise the TED-talk-circus-circuit.

The company was born from Finmans early (and only) experiences in schooling, where he was unmotivated, uninspired and underwhelmed by his teachers.

His solution was to create a search service for students like him, who were looking for inspiration and werent finding it in their own schools. Indeed, one of Finmans early teachers told him he would end up working at McDonalds.

(According to a profile in New York Magazine, that same teacher got an email with a Look at me now, bitch! header from Finman after his bitcoin-based success.)

Botangle was acquired by another bitcoin millionaire from Finmans hometown one whose concerns over a government crackdown on the currency has led the individual to keep his identity off the record.

Now, several years after its sale, Finman is buying back his original startup. In the intervening years, Finman has set up shop in Los Angeles, bought a Lamborghini (as one does in Los Angeles) and is casting about for his next big thing.

In the meantime, hes returning to the educational mission that gave his early (earlier?) entrepreneurial years purpose education.

The idea is that an open-sourced Botangle can let anyone create an online school for their own interests.

My real life goal is to fix the education system, Finman writes. And the reason I created Botangle was because of my own personal negative experiences.

For Finman, it wasnt his aptitude, it was the environment. I wasnt doing very well academically, honestly, so I went to a summer program to prep for the next year. There, I had one teacher who helped me to love hardcore physics I realized that when I had the right teacher, I could not just love learning but be extremely competent in a particular subject.

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‘$300m in cryptocurrency’ accidentally lost forever due to bug

User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back

More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports.

Unlike most cryptocurrency hacks, however, the money wasnt deliberately taken: it was effectively destroyed by accident. The lost money was in the form of Ether, the tradable currency that fuels the Ethereum distributed app platform, and was kept in digital multi-signature wallets built by a developer called Parity. These wallets require more than one user to enter their key before funds can be transferred.

On Tuesday Parity revealed that, while fixing a bug that let hackers steal $32m out of few multi-signature wallets, it had inadvertently left a second flaw in its systems that allowed one user to become the sole owner of every single multi-signature wallet.

Q&A

What is cryptocurrency?

A cryptocurrency is a form of digital asset, created through a canny combination of encryption and peer-to-peer networking.

Bitcoin, the first and biggest cryptocurrency, is part of a decentralised payment network. If you own a bitcoin, you control a secret digital key which you can use to prove to anyone on the network that a certain amount of bitcoin is yours.

If you spend that bitcoin, you tell the entire network that you’ve transferred ownership of it, and use the same key to prove that you’re telling the truth. Over time, the history of all those transactions becomes a lasting record of who owns what: that record is called the blockchain.

After bitcoin’s creation in 2009, a number of other cryptocurrencies sought to replicate its success but taking its free, public code and tweaking it for different purposes.

Some, such as Filecoin, have a very defined goal. It aims to produce a sort of decentralised file storage system: as well as simply telling the network that you have some Filecoins, you can tell the network to store some encrypted data and pay Filecoins to whoever stores it on their computer.

Others are more nebulous. Ethereum, using the Ether token, is now the second biggest cryptocurrency after bitcoin and essentially a cryptocurrency for making cryptocurrencies. Users can write “smart contracts”, which are effectively programs that can be run on the computer of any user of the network if they’re paid enough Ether.

Of course, to many, the purpose is secondary. The only really important thing is that the value of an Ether token increased 2,500% over 2017, meaning some are hoping to jump on the bandwagon and get rich. Bubble or boom? That’s the $28bn question.

The user, devops199, triggered the flaw apparently by accident. When they realised what they had done, they attempted to undo the damage by deleting the code which had transferred ownership of the funds. Rather than returning the money, however, that simply locked all the funds in those multisignature wallets permanently, with no way to access them.

This means that currently no funds can be moved out of the multi-sig wallets, Parity says in a security advisory.

Effectively, a user accidentally stole hundreds of wallets simultaneously, and then set them on fire in a panic while trying to give them back.

We are analysing the situation and will release an update with further details shortly, Parity told users.

Hard fork

Some are pushing for a hard fork of Ethereum, which would undo the damage by effectively asking 51% of the currencys users to agree to pretend that it had never happened in the first place. That would require a change to the code that controls ethereum, and then that change to be adopted by the majority of the user base. The risk is that some of the community refuses to accept the change, resulting in a split into two parallel groups.

Such an act isnt unheard of: another hack, two years ago, of an Ethereum app called the DAO resulted in $150m being stolen. The hard fork was successful then, but the money stolen represented a much larger portion of the entire Ethereum market than the $300m lost to Parity.

The lost $300m follows the discovery of bug in July that led to the theft of $32m in ether from just three multisignature wallets. A marathon coding and hacking effort was required to secure another $208m against theft. Patching that bug led to the flaw in Paritys system that devops199 triggered by accident.

Parity says that it is unable to confirm the actual amount lost, but that the $300m figure is purely speculative. The company also disputes that the currency is lost, arguing that frozen is more accurate. But if it is frozen, it appears that no-one has the ability to unfreeze the funds.

The Parity vulnerability was the result of an incorrectly coded smart contract used by the Parity wallet to store tokens on the Ethereum network, said Dominic Williams, founder of blockchain firm DFINITY. The vulnerability made it possible for anyone to freeze the tokens held by that smart contract, making them immovable. At this time, the only method we are aware of to unfreeze tokens held by the vulnerable smart contract would be to create a new hard fork Ethereum client that deploys a fix. This would require every full node on the Ethereum network to upgrade by the date of the hard fork to stay in sync, including all miners, wallets, exchanges, etc.

Ethereum has rapidly become the second most important cryptocurrency, after Bitcoin, with its price increasing more than 2,500% over the past year. One token of Ether is now worth a little over $285, up from $8 in January.

Read more: https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

New Bitcoin ATMs

A new step for Bitcoins, a Bitcoin ATM is coming out and this time in Asia. This new ATM will be based in Hong Kong , more specifically Mongkok area, and according to the operators it will be functional by the March-April time period.

The adapters of this new Bitcoin ATM concept announced they will be offering the best Bitcoin price through a partnership with Bitcashout.com an established exchange.

The ATM will provide a comfortable user-end, fast transactions, and security to provide the most customer-friendly service.

This new ATM will offer the ability to purchase Bitcoins using fiat with ease, rather than wasting time waiting for bank-wire and other less advanced methods.

The operators of this new Bitcoin ATM decided to use an innovative and a low-cost bounty system, awarding Bitcoins for different contributions from the crypto-community for such as articles,video and similar.

What is Bitcoin?

Bitcoin is an innovative payment network and a new kind of money.

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open source; its design is public,nobody owns or control Bitcoin and everyone can take part.

Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Sending and Receiving Money With Bitcoin

The bitcoin system is one of the first types of crypto-currency which has existed in the market since January 2009. What makes bitcoin different from regular currencies is the fact that bitcoin uses cryptography to monitor and control the creation and transfer of the currency between different parties. Bitcoins are generated over time at a diminishing rate, and the maximum amount of bitcoins in the market at one time is 21 million units. The usage of bitcoin eliminates the need of a third party when it comes to completing online transactions.

What makes bitcoin different from other online currency systems like Paypal is that the currency is decentralized. This means that no group or organization has a control over it. This is unlike real currency that is monitored by central authorities. Real currency is controlled in terms of the printing and distribution of coins and notes to the public. And compared to other online payment systems, there are little to zero charges to transfer bitcoins. Using bitcoins will be especially useful for businesses which carry out a majority of its transactions online.

To start using bitcoins, all you need is a bitcoin wallet. Since bitcoin is a virtual currency, you cannot hold it physically, unless you exchange it for goods and services. Your e-wallet is where your bitcoins are kept secure. E-wallets are convenient and easy to use. You can find many bitcoin wallet providers like My Wallet from blockchain.info.

Your bitcoin wallet can also be accessed via your smartphone. Having a smartphone will enable you to sell and buy bitcoins wherever you are. Apple blocks bitcoin wallets from its App Store. But if you are an Android user, many mobile apps are available for you to transact using bitcoins.

And if you feel that your bitcoin wallet is unsafe, you will want to have desktop clients to store actual bitcoins onto your laptop or PC. When you start a wallet, remember to save the file on the computer and back up the file. Make multiple backups if you feel insecure. Using bitcoins give users a sense of safety, as they are not relying on other parties like banks to take care of their funds. Most users will prefer to use the original software which has been around since the inception of bitcoins – the Satoshi Client.

After creating your wallet, you are on the way to selling and buying bitcoins. There are many ways that you can obtain this online currency. The methods include buying it from various sellers, receiving it in the form of product sales, doing actions and fulfilling conditions to obtain free bitcoins and also by mining bitcoins – only for advanced users. Bitcoin is a growing currency and will most definitely be one of the top items in the online world in the near future. For more information about bitcoins and bitcoin wallet, feel free to search the Internet for more information. With the usage of bitcoins, you will be able to earn extra income and you will have an additional way to receive and make virtual payments.

Why Invest In Bitcoin?

Bitcoin continues to outperform every reserve and fiat currency across the world. In sign of an increased confidence in the future of the cryptocurrency, Barry Silbert’s Bitcoin Investment Trust (BIT) has doubled its initial public offering (IPO) amount to $1 bln.

An amendment filed with the US Securities and Exchange Commission (SEC) on Thursday includes the new figure as the agency reconsiders its March decision to deny the Bitcoin ETF market access.

By outperforming the US dollar by almost 50 percent, Bitcoin surpassed the growth of the Mexican Peso, Silver, Gold and Russian Ruble to become the best performing currency so far in 2017.

Bitcoin moves

The Bitcoin market, however, experienced some major changes in its ecosystem earlier this year.

To begin with, the Philippines and Japan legalized Bitcoin and its businesses in their respective regions. The Indian government announced the likelihood of a regulatory framework for Bitcoin being implemented by as early as May. Some of Japan’s largest retail giants including Bic Camera, which hold a massive influence over the Japanese technology and consumer markets, began to accept Bitcoin payments at their locations.

The major driving force of Bitcoin price in 2017 is suspected to be the resolution of the Bitcoin network’s current scalability problems. The Bitcoin network’s one MB cap on block size is causing Blockchain congestion, a drastic increase in fees at times and long confirmation times.

If Bitcoin scalability issues are addressed within this year, with innovative solutions such as Bitcoin Core’s Segregated Witness (SegWit), Andrew Lee’s Extension Blocks or other potential emerging solutions, Bitcoin price will most likely demonstrate an exponential mid and long-term increase.

On April 26, Cointelegraph reported that Bitcoin officially surpassed $1,300, breaking its previous all-time high price established at the $1,277 margin. However, Cointelegraph reported that most analysts see a high level of instability in the current Bitcoin price trend due to the banking issues of leading Bitcoin exchanges such as Bitfinex and OKCoin.

If the conflict between banks and Bitcoin exchanges are addressed, Bitcoin scalability issue is solved and mainstream adoption in Japan, India and Philippines continue, Bitcoin price will likely demonstrate an exponential mid and long-term growth.

More About Bitcoin

Bitcoin is not a filesharing software. In this case, you don’t have to be worried for other people to see your files or information. Also, the value of bitcoin is depends on the scale of supply and demand. So, it also requires patience and awareness. You have to make sure of the currency exchange rates as well. You have to make sure that before processing a transaction with your bitcoins, the rate is fair enough or high for you to earn more. As well, one of the tricks on bitcoin investment is that it uses the concept of “mining”. There are some ways that you can find to earn or generate bitcoins. So you better do some researching in order to generate more income.

In every investment there is a risk that you have to take. And it is not different on buying and mining for bitcoins. However, if you will be clever enough and if you will play your cards right, you will definitely earn a lot of money. One of the risks on bitcoin investment is that you may be charged for a transaction fee. Some may charge you for 7% or more, that is why many people are still hesitant to try bitcoin for investment.

With the growing influence of internet, digital storage and financing has been one of the greatest benefits that it has given. So why not use it in your advantage. Onother good thing on bitcoin is that you can be assured that you’re investment is always in safety and secured. As well, one of its advantages is that digital storage is getting cheaper and cheaper. Besides to the fact that processing is fast and will not take too much of your time. All you have to do is sit in front of your computer and monitor it from time to time. It will save your time and energy and you can still do other things and earn more.