Looking for "Bitcoin"

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satoshin • May 25, 2017, 7:38 am EDT

How Bitcoin will see massive adoption – it might surprise you.

Cryptocurrencies could see massive adoption perhaps in a way a typical fiat currency would not. Here is how: As people will keep spending fiat (why hold on to it, it loses quickly in value) they will naturally try to preserve and hold on to their bitcoin. Exceptions of course exist: if there is some real imperative for them to spend, they will spend their Bitcoin – this alone has been hailed as distinct marker of a debt-ridden society in which capital continuously gets misallocated and one where a limited asset constraints capital investments and makes sure they will have a superior return

3 minutes

satoshin • May 25, 2017, 7:22 am EDT

Bitcoin blows past $2,500, $2,600, and $2,700

The bitcoin rally just keeps going. Thursday’s action has run bitcoin above $2,500, $2,600, and $2,700 for the first time. It hit a high of $2,749 before paring its gains. Currently, the cryptocurrency trades up 11.2%, or $270, at $2,682 a coin. It has gained in 27 of the past 30 sessions and has tacked on more than 130% over that time. Bitcoin has climbed aout 20% since Tuesday’s close, propelled by news that the Digital Currency Group, representing 56 companies in 21 countries, reached a scaling agreement at the Consensus 2017 conference in New York. The announcement was the latest bit of good news

1 minute

satoshin • Feb 27, 2017, 7:40 am EST

The Economics Of Bitcoin – Why Mainstream Economists Lie About Deflation

As many of my regular readers know, I’ve already written a few articles on Bitcoin that explain why it is money. In those articles I have addressed why the inherent properties of Bitcoin give it value as a medium of exchange. One of those properties that I mentioned, but did not go into very deeply, is the deflationary aspect of the currency system. Bitcoins are inherently deflationary as a currency because they will eventually top out in the number that can be produced. Eventually total Bitcoin circulation will reach about 21 million coins, and after that, no new coins can be created.

1 minute

satoshin • Jan 18, 2017, 7:38 am EST

Strongest Currency of 2015? Bitcoin (And 2010, 2011, 2012, 2013)

(Change against US $ at 12 December 2015 against rates one year ago) Bitcoin (XBT) +21% Israeli Shekel (ILS) +2% US Dollar (USD) Swiss Franc (CHF) -2% Japanese Yen (JPY) – 2% Bottom 5 weakest currencies in 2015 Venezuelan Bolivar (Black market rate) -78% Ukrainian Hryvnia (UAH) -34% Brazilian Real (BRL) -33% South African Rand (ZAR) -31% Colombian Peso (COP) -28% The FX markets in 2015 have been defined by the De-Risking phenomenon: investors have fled from risk into the main hard currencies, namely XBT(Bitcoin), USD, CHF and JPY. They have retreated from VEF, UAH, BRL, ZAR, COP, RUB. XAU (Gold)

1 minute

satoshin • Dec 25, 2016, 10:58 pm EST

Bitcoin’s revolution

In short, software is eating the world. Marc Andreessen Software is indeed taking over the world …and the banking system is no exception. In 2009 an innovative new technology “Bitcoin” sparked a revolution in the financial industry and does to banking what the internet has done to publishers and media. For the first time in history a decentralized worldwide network of programmable money exists. We are at the cusp of a revolution similar to the dawn of the internet. “Well, although it may be hard […] to grasp, Bitcoin represents nothing short of the digitization of trust. Bitcoin blockchain technology has

1 minute