Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

admin 2017, Bitcoin Awareness, Bitcoin Market Capitalization, Bitcoin News, Bitcoin Predictions for 2017, Bitcoin Price, Bitcoin Price Index, Bitcoin Trading Platforms, CoinGreed, Data Analysis, Exchanges, In the News, Investments, Trending News 0 Comments

Earlier this week, CNBC, one of the few mainstream media outlets that have been offering extensive coverage on Bitcoin over the past few months, revealed that $100 worth of Bitcoin purchased in 2010 is now worth $75 mln. In a relatively short span of seven years, Bitcoin price surged from around $0.003 to a staggering $2,389. That is a 796,000x return as an investment. In fact, today, on May 24, Bitcoin price hit a new all-time high at $2,392 and is continuously demonstrating a rising demand from both casual and institutional investors. Bitcoin price hits new all-time high again for the second time this week at $2,392. Important to note, China made a strong comeback. pic.twitter.com/S8mceNDTqM — Joseph Young (@iamjosephyoung) May 24, 2017 The majority of mainstream media analysts suggest that Bitcoin price is completely speculative in the sense that investors are purchasing Bitcoin solely expecting a massive return in value. However, as Coingreed previously reported, prominent investors including GoldSilver.com founder Mike Maloney are encouraging investors to hold Bitcoin as a mandatory asset to hedge against inevitable global economic uncertainty and financial instability, not just as a large return investment. Bitcoin as digital currency and digital cash On the contrary, …

If Bitcoin Had Sex, Could It Be Female?

admin Bitcoin Lifestyle, Data Analysis, In the News, RESOURCES, Spending Your BItcoin 0 Comments

According to a recent survey by the Bitcoin Marketing Team, the digital currency is still largely dominated by men in their early 20s to their late 40s, with a few under the age of 18. CoinTelegraph caught up with Charlene Chen, BitPesa Chief Operating Officer,Stephanie Kent, founder of Krypton, and Susanne Tempelhof, BitNation founder and CEO, to find out what their views are on women in Bitcoin. The Bitcoin community has a diversity problem Here’s one striking figure: 91.8 percent of respondents are male. To paint a demographic picture of the community, the team has surveyed 770 digital currency users from 68 countries. Only 5.7 percent of responses came from women with 2.5 percent choosing not to specify their sex. It shows that more needs to be done to attract women into the niche community of Bitcoin users. While the survey may have only attracted a small number of female respondents that’s not to say there aren’t women in Bitcoin making their mark on the community. You only have to look at the likes of Elizabeth Rossiello of BitPesa, Ola Doudin of BitOasis, Stephanie Kent of Krypton and Susanne Tempelhof of Bitnation, to name a few, to see that positive …

BITCOIN TRADING RECOILS FROM $300

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Bitcoin trading attempted a push to $300, yesterday, but failed short of the target. Bitcoin price is currently declining along with its descending 1-hour 20-period moving average and the support floor may comfort traders after the scary experience. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 08h24 UTC Bitfinex 1-Hour Chart From the analysis pages of xbt.social, earlier today: A lot of pushing and pulling in yesterday’s choppy price action just below $300. As expected, price is falling away from the area of contention and the price pattern reminds of the mid-March attempt on $300. What is strange is that the market had already surmounted the $300 psych barrier earlier this month, but yesterday’s trade would have you believe pushing to $300 and beyond was an audacious proposition. Our Sell Trade Recommendation is open and we watch the indicators for signs of potential reversal while we wait for price to sag to the support floor near $287. It may not sink that low, but for now the market retreats from repeated failed …

High Frequency Trading on the Coinbase Exchange

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I’ve recently started trading bitcoins algorithmically on the new Coinbase exchange. After reading about high-frequency trading in the book Flash Boys by Michael Lewis, I decided I’d give it a shot myself, albeit in a clumsier, more amateurish way. The experience has been fascinating, both on a technical level, and in a strategic sense. Writing logic that controls money itself is a strange thing. Setting it loose for the first time, knowing that any bug could literally throw away cash, was terrifying. Bitcoin is an incredibly open system that is particularly friendly to no-name developers. The exchanges have open API’s that allow anyone, literally anyone, to trade. There’s no premium access, no expensive trading floor credentials. It’s totally open – I love that. Shark infested waters As I’ve designed my trading bot, I’ve come to realize how much strategic depth there is to these sorts of games. The exchanges are already rife with trading bots; these are shark infested waters. Bots dance around each other in a chaotic swirl. They employ so many diverse strategies. It’s like so many microbes competing in the primordial ooze. Entering into this environment, I had to be immediately cognizant of other bots. Algorithmic traders …