Bitcoin Price Might Exceed $1 Million, More Millionaires in World Than Bitcoins

Bitcoin Price Might Exceed $1 Million, More Millionaires in World Than Bitcoins

admin Bitcoin Entrepreneur, Bitcoin News, Bitcoin Price, Blockchain News, CoinGreed, The Future Of Money 0 Comments

START MINING BITCOIN NOW! – LIVE STREAM While sources differ on the number of millionaires in the world, Credit Suisse estimates the number at about 35 million. This figure accounts for all “financial and nonfinancial wealth,” including assets, collectibles, and homes. This is a remarkable number when compared to the total number of Bitcoins that will ever exist. While there are roughly 35 million millionaires in the world, there will only ever be a maximum of 21 million Bitcoins. That’s right–there will never be enough Bitcoins in existence for every millionaire in the world to own even a single one. Why is Bitcoin valuable? While you let that thought sink in, let’s consider what gives Bitcoin its value. Granted that there are numerous features we could cite, including a global network, an immutable Blockchain and a means to transfer wealth from one person to another without ever involving a middleman. These are all fine features, to be sure. But what really makes Bitcoin valuable are two properties: scarcity and authenticity. Digital scarcity Bitcoin has value for the same reason gold has value: people want it and there isn’t enough to go around. New gold can’t merely be created; one has to find a …

Insufficient Understanding of Cryptocurrencies Results in Their Volatility

Insufficient Understanding of Crypto Currencies Results in Their Volatility

admin Bitcoin Price Index, Cryptocurrencies, Cryptocurrency, In the News, Investments, Investors, Technology, The Future Of Money 0 Comments

Bitcoin made the news in May when it passed the all-time high of $2,700 per unit, before swallowing a sharp correction and losing almost 30 percent of its value in 48 hours. Along the way, many other cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple and Monero have followed Bitcoin in its correction. This scenario naturally leads us to think about the last quarter of 2013, when Bitcoin price jumped from $130 to over $1100. After this boom, we didn’t see a sharp correction, but a long and steady decline to the unit price of $200, followed by a long and steady increase period. Will the same steady decline happen in 2017? The main difference between 2013 and 2017 is that the ecosystem of Blockchain and cryptocurrencies is widely more developed. We went from theories and white papers to proof-of-concept, real world applications and significant investments. Nonetheless, little are those who truly understand the underlying technology powering this ecosystem. An insufficient understanding of the market Investors have been pouring capital into the market, betting that consumer demand will propel future growth. Cryptocurrencies are therefore subject to significant speculation backed by very little analysis, which makes this asset class particularly volatile. David Z. Morris, a contributor …

Bitcoin Market Cap Crosses $14 Bln, All Time High

Bitcoin Market Cap Crosses $14 Bln, All Time High

admin Banking, Bitcoin Price Index, Prices, The Future Of Money, World Politics 0 Comments

The market cap of Bitcoin surpassed the $14 bln margin for the first time in history, breaking its all-time record high previously set in 2014. The surging value of Bitcoin led to extensive mainstream media coverage and social media attraction, with Bitcoin earning a spot on the trending section of social media platforms like Twitter. In the morning of December 22, Bitcoin crossed the $14 bln mark to establish its highest market cap to date. Additionally, Bitcoin officially recorded a 100 percent year-to-date price increase, surpassing the performance of well-performing currencies like the Russian ruble by large margins. View image on Twitter Mainstream media outlets including Reuters, Business Insider and CNBC immediately began to publicize Bitcoin’s most significant milestone in recent years, as Bitcoin continues to surge in value with mainstream speculation and increasing demand from dominant markers such as China. While the price has stalled slightly since its initial surge earlier today, the price of Bitcoin reached $874 at its daily peak, surpassing a six-month high value. An optimistic view towards Bitcoin One of the positive aspects of Bitcoin’s price surge that occurred this week is the optimistic view from the mainstream media and high profile investors. Amid the price …

Trump-Connected Billionaire Peter Thiel: Bitcoin Threatens Fiat, Tax Authorities Can’t Break Codes

admin Anonymity, Bitcoin, Donald Trump, Fiat Money 1 Comment

Over the past few years, Peter Thiel, a prominent venture capitalist with a net worth of $2.7 bln, spoke of the threat Bitcoin poses to fiat money and the financial freedom it grants to its users. Thiel, who appeared on the Economist’s Keynote interview, stated: “It becomes a threat to fiat money at a point where Bitcoin is encrypted in such a robust way that the tax authorities can’t break the encryption, can’t tell how much money you have, and what transactions you are doing.” Trump’s transition team involvement Currently, Thiel’s stance on Bitcoin is notable considering his involvement in President-elect Donald Trump’s transition team, establishing himself as a crucial member. He emphasizes that the decentralized nature of Bitcoin allows users and citizens of the U.S. to benefit from financial freedom and escape the monopoly of the government. More importantly, he notes that tax authorities will no longer be able to track the earnings and income of entrepreneurs, workers and other individuals that are forced to deal with extreme amounts of income taxes among others. Anonymity of Bitcoin Thiel believes that Bitcoin is anonymous and that authorities can’t tell how much money users have. Conceptually however, this statement is false. …

Where Will a Dead Man’s Bitcoins Go?

admin Bitcoin News, Bitcoin Politics, CoinGreed, Death & Bitcoin, Opinion, The Future Of Money 0 Comments

It is a thin line between the adequate security of personal wealth within the crypto world and an eventual inability to transfer such wealth to heirs or other beneficiaries when the need arises. The transfer of ownership of Bitcoins or other cryptocurrencies from its original owner to heirs in the case of eventuality is a matter that hasn’t been properly defined within the crypto environment. Who really owns the Bitcoins? For security reasons, access to individual wallets have been designed in such a way that only one individual is legally allowed access to specific wallets. Any person who shares the details of their login, or details of how to access their wallet does so at their own risk. “You can only possess Bitcoins if you possess the corresponding private keys.” Says Michael Vogel, CEO at Netcoins. As the security design within the crypto ecosystem has focused on the protection of the wealth of crypto users, there lies the risk of losing one’s valuables in the case of eventualities such as death and incapacitation. Online wallets are hosted on decentralized platforms. In other words, these platforms are not owned or controlled by any specific individuals or group per se. Therefore, when there …

4 Reasons Why Your Nation Will Kill Cash For A Digital Currency

admin Bitcoin Bank, Bitcoin Politics, Bitcoin Regulations, Bitcoin Startups, Bitcoin Venture Capital, In the News, Institutions & Corporate Client Safeguards, Technology, The Future Of Money 0 Comments

Yes, I’m talking to you. Yes, I’m talking about your country, whether it is Russia, China, or the United States. The more modern and advanced your economy, the faster it is coming your way. The discussions have been going on for a couple of years now on how to do it. The only question is when to spring it on the masses. If you are in a less than a state-of-the-art economy, like Pakistan or Guam, you probably have a lot more time left with the paper. Most of us aren’t so lucky. Cash has been on the clock in the most advanced nations for years, with central banks limiting how much cash you can get, even from your own account. Limits have been dropping to as low as 5000 units of paper in some nations, and even then you will have to surrender your ID or go through some level of interrogation. The future of money does not include paper, and here are four reasons why digital currencies will become your official national currency. Reason #1 – The best way to control a nation is to control its money supply Governments are all about control. Whether it is doling out …