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, …

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 …

Blockchain Technology to Transform Monetary System

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While bitcoin has had its share of ups and downs in the past years, the underlying blockchain technology has the potential to change the entire monetary system. Renowned futurist Peter Diamandis claimed that the financial system could see an extraordinary transformation in the next decade due mostly to bitcoin-like technology. “You might have heard of bitcoin, which is the decentralized (global), democratized, highly secure cryptocurrency based on the blockchain. But the real innovation is the blockchain itself, a protocol that allows for secure, direct (without a middleman), digital transfers of value and assets (think money, contracts, stocks, IP),” Diamandis mentioned. “Investors like Marc Andreesen have poured tens of millions into the development and believe this is as important of an opportunity as the creation of the Internet itself.” Blockchain Technology Protocol “At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions… all good things,” Diamandis wrote in Forbes last year. “Most importantly, it is an ‘exponential currency’ that will change the way we think about money. Much the same way email …

BITCOIN IS THE FUTURE: PAYPAL CHANGES TERMS OF SERVICE TO TAKE YOUR CONTENT

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PayPal has joined forces with Bitcoin as a sort of keep-your-friends-close-and-your-enemies closer tactic. Bitcoin is designed to overtake and make obsolete services like Paypal and Western Union. It is faster, less expensive, and doesn’t require their third-party services to accomplish the same objectives. It is a better PayPal, and they know it. Now that the Internet has borne this superior option, it would be wise for PayPal to foster a stronger connection with its customer base to keep them happy and in the fold, no? PayPal doesn’t see it that way. In fact, they may be looking to drive more people towards the freedom and convenience of Bitcoin with their upcoming changes this summer. PayPal’s Terms of Service to change July 1st, 2015 If you haven’t seen this, you should, and you should share this with your friends, family, anyone who used PayPal in connection with a website providing online content. On July 1st, 2015, Paypal will update it’s TOS agreement to take away any and all intellectual rights to any content you provide online. If you use Paypal to accept PayPal, they will attempt to take ownership of any online content you add to your business or website. Here is …

WILL LATEST BANS ON CASH AND CAPITAL CONTROLS GROW BITCOIN?

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The groomed, nurtured and thoroughly manufactured“War on terror” is just about ready to claim another casualty if you live in modern Westernized society. It used to be just a tool of oppression in the U.S., but now statists around the world are using “terrorism” as a catchphrase to rule with an iron hand. Now that every modern government in the industrialized world has a new “Boogie Man” to hide behind, no good crisis shall go to waste. And really the statists don’t even bother with creating the Hegelian Dialectic anymore. Now a nation-state can create a press release, say “Terrorism”, and create a new law that takes their citizens freedoms away. With one word to hide behind, they now legislate your rights right into history, so that they can sit next to the carrier pigeon and the phonograph. New Capital Controls beta-test coming to France A new economic beta-test coming to France this September has my shorts in a wad. Far be it for me to malign the fine French people. Besides, they have a fine track record of accepting Bitcoin, and corporations providing the option of paying employees in Bitcoin in Paris is somewhat common. Very progressive. This is …

FLORIDA BRINGING HACKING FELONY CHARGES AGAINST 13-YEAR-OLD

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The definition of hacking in Florida might get a whole lot broader if Domanik Green is found guilty, now that the Pasco County, Florida prosecutors have apparently not yet decided to drop hacking charges against the 8th grader. The Serious Crime of Changing a Desktop Background To be clear from the outset, all this boy did was change a desktop background of a teacher that him and his fellow students disliked. This is not unlike writing on the blackboard behind the teacher’s back, a crime punished with detention. But the Pasco County Sheriffs believe that Green violated Chapter 815 of the Florida law, specifically chapter 06 thereof, which classifies the boy’s activities, technically speaking, as a felony in the third degree. Technically speaking. If people who don’t know what they’re talking about are railroaded by an overzealous prosecution looking for a Supreme Court loss down the road. Certainly a higher court would see the ratiocination of this case to be a miscarriage of the spirit and letter of the law. In any case, the legality pertaining to Green reads: A person commits an offense against users of computers, computer systems, computer networks, or electronic devices if he or she willfully, knowingly, …