Vinny Lingham: Bitcoin Price Will Reach $3,000 in 2017

Vinny Lingham: Bitcoin Price Will Reach $3,000 in 2017

admin 2017, Bitcoin, Bitcoin 2.0, Bitcoin Awareness, Bitcoin ecosystem, Bitcoin Market Capitalization, Bitcoin News, Bitcoin Predictions for 2017, Bitcoin Price, Blockchain News, BlockChain Technology Opinions, China Market, Crypto News, Cryptocurrency, In the News, Vinny Lingham 0 Comments

Vinny Lingham, co-founder and CEO of Civic.com released a highly anticipated blog post entitled “Bitcoin 2017: A Currency Devaluation Hedge for Emerging Markets” on December 28 to share his thoughts on Bitcoin and its price trend in 2017. In his analysis, Lingham predicted that the Bitcoin price will double or triple within the next 12 months. Over the past year, Lingham has been one of the few analysts who accurately predicted the price trend of Bitcoin. In a blog post published in April, Lingham told his readers that Bitcoin would reach a market cap of $15 bln by the end of the year. Today, it surpassed the $15 bln mark, reaching its all-time high market cap. The reasons behind strong performance The vast majority of mainstream media outlets and analysts have cited economic and financial factors as a reason for Bitcoin’s price rally. Various events such as the demonetization of banknotes in India and Venezuela, crackdown on Wealth Management Products (WPMs) and tightening of capital controls played a strong role in the rising price of Bitcoin. However, Lingham notes that most failed to acknowledge the impact of rising Federal Reserve rates on the value of Bitcoin. When the Federal Reserve increases …

Bringing In and Breaking Out: 10 Bitcoin and Blockchain Predictions for 2017

Bringing In and Breaking Out: 10 Bitcoin and Blockchain Predictions for 2017

admin Bitcoin Awareness, Bitcoin Bank, Bitcoin Lifestyle, Bitcoin Services, Blockchain, Blockchain News, blockchain technology, CoinGreed, Cryptography, Ethereum News, Gold, Smart Contracts, World Politics 0 Comments

Blockchain had a good run in 2016 with a lot going on, including over $1.5 bln invested in startups, Bitcoin breaking out of the $700 resistance level and the likes of IBM and Microsoft betting the shop on this new pervasive technology. We saw Barclays Bank’s first live commercial banking transaction, Hyperledger’s very promising Corda technology coming of age and, of course, more attacks requiring more forks. In addition, the Scaling Conference in Milan showcased some amazing projects that bode well for Blockchain’s amazing future. So what does 2017 hold for the Bitcoin Blockchain? On par with gold Bitcoin will continue its rise from its three-year high to reach parity with gold, continuing the trend post the devaluation of the yuan, the withdrawal of large Indian notes, as well as the Trump and Brexit effect. Breaking out As 2016 was the year of the Proof of Concept, 2017 will be the year when Blockchain breaks out of the lab and into production environments. Forks Ethereum will continue to fork under constant attacks and will get stronger as Casper comes of age. Furthermore, Ether will continue to struggle to break through the $1 bln market capitalization. Smart contracts Banks will try …

Stellar Launches SWIFT-like Blockchain-Backed Money Transfer Network

Stellar Launches SWIFT-like Blockchain-Backed Money Transfer Network

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Stellar is launching one of the first Blockchain applications which may hold the potential to affect a large number of people outside the digital currency space, through its global money transfernetwork aimed at some of the world’s largest remittance markets. It has been described by CTO Jed McCaleb as an open-source SWIFT-like network that allows connected organizations to transact with one another thus helping to reduce the friction that contributes to higher fees. The platform also connects diverse financial systems with one technical integration. He says to Cointelegraph: “Given the diverse nature of global financial services today, this interoperability can substantially lower global remittance costs by making transactions that cross national boundaries, currencies and financial institutions much more efficient. Transactions processed on the Stellar network take only 3-5 seconds to complete, and are extremely low-cost, regardless of the size of the payment amount, attributes that make the platform uniquely suitable for international remittances.” Cross-border payments Stellar has partnered four key institutions to enable low-cost global money transfers to India, the Philippines and Europe as well as cross-border M-PESA payments to and from Kenya, Ghana and Nigeria. These new partnerships are particularly meaningful to the company because it is one of …

Blockchain Proven to be Faster Than Wire Transfers in Banking Payment Test

Blockchain Proven to be Faster Than Wire Transfers in Banking Payment Test

admin Banking, Bitcoin Awareness, Bitcoin News, Bitcoin Tools, Blockchain News, blockchain technology, BlockChain Technology Opinions, CoinGreed, In the News 0 Comments

Bitcoin and its revolutionary Blockchain technology have many advantages over the status quo. This ranges from better security, lower costs and superior inclusion. Another advantage is the speed of transactions, as the legacy banking system has been using the wire transfer method for generations. Now, results from a test run by a group of banking interests in Japan have revealed that Bitcoin’s Blockchain technology is more than ready to drag the current monetary transfer system into the 21st century. According to the Asian Nikkei Review, the unnamed “megabanks,” the Deloitte Tohmatsu accounting group and the Bitcoin exchange bitFlyer have been running Blockchain tests for a considerable part of 2016, with the final tests concluding in September. The goal was to see if Bitcoin’s Blockchain technology could hold up to the rigors and speed requirements of the current currency transfer systems. You could say that these tests were successful. “Blockchain’s low processing speed was seen as a major drawback of the technology,” said the Asian Nikkei Times. “But researchers were able to conduct 1,500 transactions per second using Blockchain, on par with the nearly 1,400 transactions the current interbank wire system is capable of handling at peak times.” The banks again were …

“Make Something People Want”: How Blockchain Has Become a Fetish

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Desire for an entity that is believed to convey supernatural powers, eliciting a condition of intense excitement. We call this fetishism. An old idea is that our consumer society is afflicted by a fetish for commodities, coveting the trappings of a phantasmagoric existence. More recently the idea of “Blockchain” has emerged as an object of contemporary fetish. We’ve heard that it’s bigger than the Internet itself! It’s, almost, bigger than The Beatles! Given this state of affairs one might start to wonder – from whence did this adulation of Blockchain arise? The situation is analogous to the great technological fetish concept of “artificial intelligence” and the never ending stream of dubious research and claims it provokes, in stark contrast to the more somber and practical field of machine learning, which is more firmly rooted in the realm of the empirically possible. As the idea of Bitcoin and cryptocurrencies becomes more normalized, they cease to function as a tabula rasa upon which we can project our wildest fantasies and increasingly we turn to the idea of Blockchain to satisfy this need. In order for a technology to catch hold of the collective unconscious (kollektives Unbewusstes) in the fantastic way that the …

Bitcoin and Zcash: How Do They Compare?

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Alex Sunnarborg is the founder of Lawnmower, a blockchain investing and market data platform founded in 2015. In this opinion piece, Sunnarborg compares bitcoin’s attributes with those of the newly launched cryptocurrency Zcash, providing an overview of how he considers the market potential of each . With the launch of Zcash today (and the speculation surrounding it) you may be wondering how the decentralized, open-source cryptocurrency compares to bitcoin, the original digital currency. While many structural similarities to Satoshi Nakamoto’s bitcoin design are obvious, Zcash utilizes advanced new cryptographic techniques to offer optional improved privacy and transparency, as well as its own unique blockchain. But, despite the differences, there is common ground. Zcash’s supply model is extremely similar to bitcoin’s, with a fixed and known issuance model that is cut in half approximately every four years. As well, there is a maximum of 21m units of both Zcash (ZEC) and bitcoin (BTC) which will be mined over time. Given these similarities, it’s easy to see why the price and market caps of the two assets are often compared. Cautious start Nearly eight years after bitcoin’s genesis block was formed, more than 15.75m BTC have already been mined (representing over 75% of the supply that will ever exist on its blockchain). Zcash’s developers …