ALI BABA CEO, JACK MA – TALKS BITCOIN AND BLOCKCHAIN

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November 22, 2017

Bitcoin, the world’s number one Cryptocurrency keeps making new all-time highs, and it appears that with each passing day, Bitcoin seems to be attracting more interest from institutional investors, governments and influential personalities from all around the globe.
In a recent development, the founder and CEO of Alibaba Group Holding Limited- Jack Ma, has said he does not know much about Bitcoin, but its underlying technology- Blockchain is much powerful. Jack Ma said he pays more attention to having a cashless society and Blockchain technology, rather than Bitcoin.
Just like Nasdaq and IBM, who have adopted the use of Blockchain technology in its processes, Jack Ma’s Alibaba in the past two years have employed the use of Blockchain technology, to increase transparency in the China’s charity sector, to eradicate food fraud and in securing health data in the health sector.
In another development, the Chief Technology Officer of Ant Financial – Cheng Li, speaking at the computing conference 2017, he explained the acronym of the company’s technological strategy “BASIC”.
He said BASIC stands for “Blockchain Artificial Intelligence, security, internet of things and cloud
computing.”
JINGDONG REMAINS OPEN-MINDED TOWARDS BITCOIN
JingDong or JD is the second largest e-commerce company in China after Ali Baba. JD entered the Blockchain ecosystem in 2016 and used Blockchain in creating its Big Data Ecosystem – which is an asset management platform and supply chain.
In 2014 when Bitcoin popularity was relatively low as compared to what it is now, the CEO of JD, Liu Qiangdong was a guest at the Chinese financial talk show. When quizzed about Bitcoin, he said Bitcoin was used to buy plane tickets in the U.S, but he never purchased any Bitcoin or stocks because he had no interest in the virtual economy. When further asked if his firm JD would accept Bitcoin or create its coin, he said if its customers wish for JD to accept bitcoin, then he was open to the idea.
In another development, the CEO of 58.com, Yao Jinbo has said he is in full support of Bitcoin, and if he owned a country to himself, his currency would be Bitcoin. He further reiterated that after the internet, Blockchain technology could be the next most significant revolution.

BLOCKCHAIN BITCOIN WALLET SET TO ADD SUPPORT FOR SEGWIT AND BITCOIN CASH IN EARLY 2018

By

Osaemezu Emmanuel

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November 19, 2017

Primary Bitcoin wallet service provider, Blockchain.info recently announced it would start a full-fledged support of Bitcoin cash and Segregated witness- Segwit, starting from the first quarter of 2018. The Luxembourg based Bitcoin Company announced this positive news in a blog post.
The Blockchain wallet made it clear that it has been in support of Segwit from the day Segwit was executed on the Blockchain network but will need to carry out an update on some of the sensitive parts of its software codebase, to be able to integrate Segwit.
It further stated that the update would span across a wide variety of its platforms and device. The wallet assured its users that the update would be done cautiously but also with consideration for the extremely high miners’ fee within the Bitcoin community.
It is important to note that since August 1, 2017, when the Bitcoin hard fork which gave birth to Bitcoin cash was activated, Bitcoin cash has maintained its place amongst the top four cryptocurrencies, regarding market capitalization and price and proves beyond reasonable doubt that Bitcoin cash is a viable top-tier cryptocurrency.
With the indefinite suspension of the proposed Segwit2x Bitcoin hard fork which was earlier scheduled for activation on November 16 but failed due to lack of a consensus by the Bitcoin community.
It is pertinent to note that the Blockchain wallet offered support for the failed Segwit2x and a vast number of segwit2x opponents has criticized the Blockchain wallet for delaying or failing to integrate support for Segregated witness (Segwit) which has been successfully activated on the Blockchain network, since August 2017.
As segwit2x is nowhere near the Bitcoin horizon anymore, the only viable scaling option left for Bitcoin is an integration of Segwit.
Asides the fact that Segwit lays the foundation for long-term Bitcoin scaling, Segwit, also can reduce Bitcoin transaction fees by approximately %35 drastically.
Blockchain has been accused of delaying Segwit integration due to political reasons. However, Blockchain defended its delay by reiterating that Segwit is a complicated update that will affect billions in user transactions with massive privacy implication. Nevertheless, Blockchain will be fully ready to integrate Segwit by the first quarter of 2018.
For Bitcoin investors, this news calls for celebration as Segwit integration will be beneficial because currently, the Bitcoin transaction fees are just too high, forcing some business owners and individuals to use other cryptocurrencies like Ethereum and Bitcoin cash for transactions.
Blockchain.info Logo Via blockchain.info

Bitcoin Cash Will Not Survive In The Long Run, But Will Do Well In The Short Term- ANALYST

By

Osaemezu Emmanuel

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November 18, 2017

August 2017 was the month that made many cryptocurrencies investors rich!. Everyone who had Bitcoin in a Bitcoin Cash supporting wallet was credited with same amounts of the airdropped Bitcoin cash.

Although many wallets and Bitcoin exchanges were not ready to offer support for Bitcoin cash at the time due to network uncertainties and disruptions that come with a hard fork, Bitcoin cash support gradually increased over time.

With the increase in support, came also increase in price. Bitcoin cash which initially traded at around $200 to $300, but as the network gradually became stable; it had a direct bullish effect on the Bitcoin cash market price.

As wallet and exchanges began to offer support for Bitcoin cash, it also made the Bitcoin cash price move on the bullish side of life. It is important to note that Bitcoin cash market price surpassed the $2000 price area before experiencing a significant price correction and as at press time, its currently trading at around $1,384 with a market capitalization of $23.28 billion.

ANALYSTS SAY BITCOIN CASH WILL NOT SURVIVE ON THE LONG RUN

While Bitcoin has a massive hierarchy of developers who are continually prepping up the Bitcoin code base, Bitcoin cash can only boast of a handful of developers.

The chief engineer at Bitgo, which is a giant In the Bitcoin and Blockchain security ecosystem, is of the opinion that Bitcoin cash would do excellently well in a short-term timeframe, but will struggle in the future. The engineering guru explained that Bitcoin cash has a very shallow development team.

In his words:

“I suspect BCH will do alright for the short term: there is plenty of demand from users to externalize their cost of the transaction into node operators. But crypto asset engineering is a marathon, not a sprint.”

In another development on November 12, Adam Back, who is one of the developers mentioned in the original Bitcoin whitepaper released by Satoshi Nakamoto. Adam Back said Bitcoin has the edge over Bitcoin cash regarding long-term scaling because Bitcoin cash lacks the infrastructure to support second layer scaling.

Adam back further explained that Segwit is a bug fix which makes excellent scaling on layer 2 and lightning possible, but Bitcoin cash intentionally removed the bug fix. He continued by saying Bitcoin will be fine in the long term, but Bitcoin cash will have scaling issues because of the absence of Segwit and lightning.

It remains to be seen how this whole scenario will play out, but in my candid opinion, I think Bitcoin will forever stay the “original Bitcoin.”

Turkish Police Have Arraigned Kidnappers Of Wealthy Bitcoin Millionaires

By

Osaemezu Emmanuel

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November 17, 2017

turkish police arrest kidnappers of bitcoin billionaires

Turkish police force exhibited elements of world-class professionals as they swiftly and intelligently captured a deadly gang of kidnappers whose primary area of specialization is in abducting and torturing wealthy Bitcoin owners and ripping them off their hard-earned Bitcoins.
The five bandits were invaded by the Turkish police as they were just about attacking their second victim. Reports have it that the kidnappers had previously succeeded in extorting over $3million worth of Bitcoins from a wealthy Bitcoiner cum business mogul.
HOW IT HAPPENED
According to Turkey’s Haberturk newspaper, the ugly incident happened in the suburban area known as Merter, in western Istanbul, Turkey. The fearless criminals reportedly followed the wealthy Bitcoin businessman to his car, ceased his expensive laptop and some other undisclosed belongings of his, before abducting him.
The super-rich Bitcoin business mogul endured an excruciating eight hours of torture and pressure before finally parting with his legitimately earned 450 Bitcoins.
END OF THE ROAD
The victim swiftly filed a police report after the bandits released him and luckily for him, he could identify the five kidnappers pictures in the Turkish police database. The Turkish police promptly moved into action and placed the five bandits on special surveillance using all their modern criminal tracking techniques and also alerted the cyber crime department who swiftly jumped into action. Within a short period, they discovered the stolen Bitcoins moving through the Blockchain network.
Once the Bitcoins got spotted on the Blockchain, the Turkish police now initiated a raid on the Bitcoin kidnappers.
According to reports, the leader of the gang of five has been successfully apprehended, convicted of kidnap and extortion.
This kind of horrendous crime in Turkey warrants a significant jail term, and the Bandit got sentenced to 30 years in prison.
IT IS RISKY TO FLAUNT YOUR WEALTH ON SOCIAL MEDIA
Reports have it that the kidnappers got attracted to their victims through their victims’ social media show off of wealth and affluent lifestyles. This kind of behavior is dangerous and should not be practiced if you don’t move around town with your armed bodyguards.
As Bitcoin keeps soaring to all-time highs and gaining massive popularity with each passing day, there is an imminent need to protect ourselves from criminals. Even if you are lucky to have joined the Bitcoin train to the moon quite early enough and have now amassed considerable fortunes in Bitcoin, it pays to keep the information to yourself only!

BITCOIN TO THE RESCUE AS MILITARY TAKEOVER HIT ZIMBABWEAN ECONOMY HARD

By

Osaemezu Emmanuel

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November 16, 2017

No condition is permanent and the only constant thing in life is change!. No matter how long a story is, it must have an end. This is the situation right now in Zimbabwe as the 37 years old dictatorship rule came to a surprise end on Wednesday the 15th of October 2017, when the Zimbabwean military took over the seat of dictator-president Mugabe.
Although, unlike most military coups, where the president is killed or jailed instantly, the 93 year sold Mugabe who holds the record for the world’s oldest president, has been placed under house arrest.
Early Wednesday, the military leader of the operation, Major General S.B. Moyo, announced on Zimbabwe state-run television, vehemently denying the operation was a coup but rather a cleanup process, to track down the criminals surrounding the government, who were causing social and economic suffering.
The military head, Major General S.B. Moyo, further made it clear that President Mugabe and his family were safe and normalcy will return to the southern African nation as soon as the military operation was over.

BITCOIN PRICE SURGES IN ZIMBABWE AMIDST POLITICAL AND ECONOMIC CRISIS

The problem of hyperinflation has been a thorn in the flesh of the Zimbabwean people and economy. It is no longer news that $1 is equivalent to 35 quadrillion Zimbabwean dollars.
The current political turmoil has made the inflation rate even worse and many Zimbabweans have adopted Bitcoin as a safe haven asset and store of value amid economic uncertainty in the nation.
Bitcoin climbed over 10 percent on Zimbabwe’s local cryptocurrencies exchange, Golix after the military take over. Bitcoin is being traded at $13500, which is almost twice the price at which Bitcoin is traded on international markets.
Currently, demand for Bitcoin has skyrocketed amid the shortage of fiat currency.
In the past month alone, Golix, which is Zimbabwe’s number one cryptocurrencies exchange, processed over $1million worth of bitcoin transactions, which is by far indicative of increasing demands for Bitcoin in Zimbabwe as compared to Golix’s turnover of barely $100,000 in 2016.
Golix is an unregulated exchange in Zimbabwe, founded in 2014. The trades major cryptocurrencies.
On Golix, prices are set by demand and supply and sellers are paid in U.S dollars deposited electronically and can only be converted on the black market at a steep price.
Featured image via CANVA

Bitcoin Price Surges To $6,830, As CME Bitcoin Futures Trading Prepares For Launch This December

By

Osaemezu Emmanuel

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November 15, 2017

Life indeed is full of ups and downs. the world’s number one cryptocurrency has had its fair share of turbulence and now the future looks ever brighter for Bitcoin. Even with the recent ban imposed on all ICO’s and Bitcoin mining operations in the former Bitcoin stronghold – China, Bitcoin has stood its grounds remarkably strongly. Bitcoin market analysts and Bitcoin investors say this is just the beginning of a Bitcoin super bullish rally.
Bitcoin price surpassed the $6800 price region today. Analysts are of the opinion that the Bitcoin market is in for another bullish rally as Bitcoin keeps attracting highly reputable investment firms and payment services, providers.

MAN GROUP TO INVEST IN BITCOIN AFTER CME LAUNCHES BITCOIN FUTURES EXCHANGE

Man Group, a sugar cooperage and brokerage firm founded in London in 1783, is one of the world’s largest hedge funds and has almost $100 billion in funds under management.
Man Group CEO Luke Ellis, recently told Reuters that Man Group will add Bitcoin to its “investment universe once CME successfully launches its Bitcoin futures market and the Bitcoin futures contracts get officially listed for trading. The CEO was quoted as saying :
“conceptually digital currencies are an interesting thing, it’s not part of our investment universe today- it could be. If there is a CME future on Bitcoin, it would be.”
Luke Ellis noted specifically that cryptocurrencies find it very difficult to obtain mainstream adoption due to lack of central governments backing, but cryptocurrencies in general still have potential as investment products.
The Man Group CEO has a positive outlook on Bitcoin and Cryptocurrencies, unlike JPMorgan CEO, Jamie Dimon, who thinks Bitcoin is a bubble and will burst soon.
CME group which is the world’s leading futures and derivatives group, says it will launch operations by the second week of December 2017.
The chairman and CEO of the Chicago based blue chip company, Terry Duffy, has assured Bitcoin investors and market analysts that there is nothing to fear. Terry Duffy reportedly downplayed all negative concerns of skeptics.
He said the CME will implement strict restrictions that will contain the inherent volatility of the Bitcoin market thereby ensuring the price doesn’t fall to ‘zero’. In a nutshell, this means the launch of the CME’s derivatives and futures market promises to be a win-win situation for Bitcoin investors.

BLOCKCHAIN TECHNOLOGY IS THE REAL GAME CHANGER!

By

Guest Author

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November 15, 2017

It is often said that the only constant thing in life is CHANGE! In simple terms, The Blockchain is a complex list of records known as blocks, linked together and secured by way of cryptography.
These blocks grow continuously till infinity. The data stored on a Blockchain cannot be modified, this single characteristic makes it highly secure and ideal for the recording of transactions between two individuals or business, storing of highly sensitive information and so on.
Bitcoin, the world’s number one Cryptocurrency is built on the blockchain technology. Bitcoin is one of the many successes of the Blockchain technology and Tech heavyweights like Apple co-founder Steve Wozniak said recently that Bitcoin is better than gold and the US dollars.
Little wonder countries like the United Arab Emirates, huge business corporations, and even business startups are adopting the Blockchain technology for data security and efficiency operations.
Today, Oleg Safonov, a high-rank official in Russia’s federal tourism Agency said that blockchain will revolutionalize the industry, bringing disruptive changes to old ways and processes of the Russia federal Agency for tourism.
Oleg safonov as present at the Kazan tourism forum where he expressed his optimism about blockchain technology being a massive game changer. He also made it known that his bullish view about the blockchain is a general opinion of the Russian Federal Agency for Tourism.
In a recent interview with the Russian state news agency TASS, Oleg Safanov reportedly said that the change the blockchain will bring to the tourism industry will certainly not come overnight but surely within a period of 5 – 10 years time.
The high-rank official reportedly said the elimination of intermediaries and cost reduction through a decentralized network, which is the major strength of the blockchain cannot be overemphasized because it will ensure delivery of high-quality products at very cheap costs.

Russia Set To Increase Its Cryptocurrencies Mining Involvement As Bitcoin Shows Steady Signs Of Recovery

By

Osaemezu Emmanuel

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November 14, 2017

The world has certainly gone ‘cryptocrazy’ and every right-thinking individual, governments, and businesses want to get actively involved in Cryptocurrencies. No one wants to be left behind in this fast evolving new world order – Cryptocurrencies.
In a recent development, the Russian Association of Blockchain and Cryptocurrency (RACIB) which was formed back in August by Russian President Vladimir Putin’s adviser on internet issues, Herman Klimenko, with the sole aim of unifying all Blockchain stakeholders like investors, miners and initial coin offerings (ICO’s).
RACIB recently carried out an extensive research to determine the best regions in Russia that could support massive Cryptocurrencies mining operations.
The research parameters included: regions with the cheapest cost of electricity, regions with great reserve capacities, regions with best telecommunications and logistics infrastructure.
It was found out that the Krasnoyarsk Territory, which is the second largest territory in the Russian Federation, is best equipped for the massive task.

WHAT MAKES KRASNOYARSK THE BEST?

Bitcoin mining requires huge amounts of uninterrupted power supply. Often times, the amount of electricity needed to confirm a single Bitcoin transaction, would be enough for a two-room apartment to utilize for a whole month!
The Krasnoyarsk region has the third cheapest electricity rate in Russia, a kilowatt of electricity costs about 2.41 rubles per hour which is about 4 US cents.
In terms of telecommunication facilities and logistics, three cities (Krasnoyarsk, Divogorsk, and Zheleznogorsk) in the Krasnoyarsk territory came out tops. The presence of the Yenisei river is also a very important factor, as water from the Yenisei river will be used as a coolant for the mining farm.
RACIB revealed in a statement last week that about 40 Bitcoin mining firms from China and the European Union have submitted proposals for Bitcoin mining operations in Russia.
If all goes well, this certainly will serve as a great boost in the Russian cryptocurrencies ecosystem and could even make Russia become a world power in the Cryptocurrencies ecosystem, just like Japan.

BITCOIN PRICE RECOVERS

The new week has started cleaning up the mess made by the cancellation of the Segwit2x Bitcoin hard fork which led to a massive Bitcoin bloodbath.
The Bitcoin price experienced a huge correction in the past week due to a massive sell-off of Bitcoin by investors who were disappointed by the suspension of the segwit2x hard fork. Bitcoin last experienced such a correction in early September when Bitcoin cash experienced a price surge.
The segwit2x cancellation led to a significant transfer of funds from Bitcoin to Bitcoin cash and which the bitcoin price to plunge below the $5600 price area, losing approximately $2000 from its all-time high.
Monday came with new hopes for Bitcoin investors as Bitcoin started showing solid signs of recovery, initiating an $800 rally that has returned the Bitcoin price to above the $6500 price region.
The Bitcoin market capitalization now stands at $109.5 billion, which is approximately 54% of the total cryptocurrencies market capitalization.

BITCOIN GOLD GOES LIVE DESPITE ATTACK ON ITS MAINNET

By

Osaemezu Emmanuel

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November 13, 2017

BITCOIN GOLD GOES LIVE DESPITE ATTACK ON ITS MAINNET, XAPO PRESIDENT SAYS BITCOIN COMPANIES COULD MOVE TO BITCOIN CASH OR ETHEREUM
It has been a November laden with a beehive of activities for the Bitcoin and altcoin ecosystem. From the segwit2x sudden indefinite suspension to the Bitcoin price correction and the Ethereum incident which has frozen millions of users funds and now, the battle for Bitcoin supremacy opened a new branch today as Bitcoin Gold finally goes live.
Although many wallets and exchanges do not offer support for Bitcoin Gold just yet, as they supported Bitcoin cash, therefore Bitcoin investors whose Bitcoin wallets do not support Bitcoin gold would need to export their private keys manually to enable them to access their Bitcoin Gold.
The Bitcoin gold main net got launched at block 491,407 and mining is expected to be available at block 499407. The Bitcoin Gold development team said the BTG network survived a massive concerted attack which threatened to disrupt the launching process but they managed to get the network up and running just a little behind schedule.
The Bitcoin Gold fork is not the same as the Segwit2X fork which was scheduled for activation later this month but got suspended indefinitely because of the inability of the Bitcoin community to reach a general consensus.
Just like Bitcoin cash, Bitcoin users will get the same amount of Bitcoin Gold in their Bitcoin gold supporting exchanges and wallets. For example, if you had 1 Bitcoin before the fork, you will receive 1 Bitcoin Gold too.
As contained in the Bitcoin Gold whitepaper, the major aim of the Bitcoin gold hard fork is to make Bitcoin mining easier and less expensive. Currently, Bitcoin mining is very difficult and cumbersome, only possible for a selected group of elites who can afford to buy ASICs computers worth several thousand dollars and also pay the huge electricity bills.
Although Bitcoin Gold is still in its active development stages, the vision of the Bitcoin Gold development team is to make Bitcoin Gold succeed and make Bitcoin mining possible even with just a small personal computer with GPU graphics card, from the comfort of your home.

XAPO PRESIDENT WARNS

In another development, Xapo President, Ted Rogers has warned the Bitcoin industry and community that some of the biggest companies within the Bitcoin ecosystem may have no choice but to move to more flexible and scalable cryptocurrencies like Bitcoin cash or Ethereum and will take along millions of users.
Rogers said although support for Bitcoin is still very strong, businesses may be forced to move to Bitcoin Cash and Ethereum because of cheaper transaction fees and larger blockchains that can handle huge transactions quickly. Currently, the Ethereum network can handle twice the number of transactions Bitcoin can handle daily.
Bitcoin Gold Image Via FxEmpire

ETHEREUM PARITY WALLET BUG INCIDENT, CAPPASITY SAYS IT WAS A DELIBERATE ACT, NOT AN ACCIDENT.

By

Osaemezu Emmanuel

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November 12, 2017

From segwit2x cancellation to the most recent Bitcoin bloodbath and now there is the ethereum Parity wallet crisis. For many investors in the cryptocurrencies ecosystem, this is certainly not a November to remember.
It is no longer news that ethereum investors funds running into hundreds of millions of dollars worth of ethereum is currently stuck in Parity wallet, due to a reported code error which was accidentally activated by an ethereum “newbie” user.
Although the bug affects only multisignature wallets created in Parity wallet that was deployed after July 20th, the actual amount of investors funds in ether frozen in the wallet is still unknown, cryptocurrency analysts speculate its within the $150 to $280 million dollar region.
THE BUG SCENARIO
The Ethereum Cryptocurrency is programmed with Solidity, which is a programming language for writing smart contracts. The Parity wallet crisis began when a Github user “devops 199” exploited a bug in the Party wallet library contract. He admitted to having accidentally killed the bug, not knowing it will cause a huge crisis.
Devops199’s action turned the library contract into a regular multisignature wallet and became its owner. Devops99 now tried to delete the code that granted him ownership rights, but because the wallet contained library contract code – which is the lifeline of all parity multi-sig wallets, this led to the freezing of millions of ether stored in all parity multisignature wallets deployed after 20th of July.
Cappasity , a cloud-based platform that allows businesses quickly and easily create and embed 3D content into their websites, is of the opinion that the whole actions which led to a freezing of peoples funds running into hundred millions of ether, is a deliberate one and not an accident as claimed by Parity wallet user.
Cryptocurrency analysts and researchers like Patrick McCorry, a cryptocurrency researcher at University College London, have said that the only solution to unfreeze the funds is to activate a hard fork on the ethereum network.
THE WAY FORWARD FOR ETHEREUM.
This is not the first time the ethereum network will be faced with issues like this. In total, ethereum has carried out four hard forks to fix bugs and memory outages. In all the earlier hard forks, none of the frozen funds were stolen.
So there is almost a hundred percent chance of solving this recent Parity wallet bug with a hard fork activation in the upcoming weeks and all funds will get restored back to their rightful owners.
There is great need to speed up the process of the hard fork so as to erase panic from the hearts of ethereum investors and return the Parity ethereum wallet to its previous state of normalcy.

ANALYSIS: Crypto-wars; BCH or BTC?

By

Livine Sanchez

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November 11, 2017

Recently bitcoin.com made a PSA stating that in their opinion BCH is the real Bitcoin. They based that on the recent turmoil caused by segwit2x and factors such as the increasing transaction times and costs of BTC. Assuming the points they make in this article are correct, the following question is raised:

Is it possible, that BTC will always be more popular because it has a “name” that is better known, thus resulting in the whole crypto-market eventually collapsing?

If you examine the differences between Bitcoin core(BTC) & cash(BCH), it is clear that at this current point BCH’s functions are closer to what Bitcoin was meant to be (cheap/fast transactions, etc.).

When I bought BTC, I was promised a quick and affordable method to transact. Instead, I got a coin that increases in value based on speculation without being able to substantiate its increase in value by providing what it promises it is meant to do.

BTC transactions right now are quite expensive, and they can take few hours up to a whole day in my experience. That is the definition of a bubble; prices increase significantly, without the underline asset’s real utility/future returns value matching that increase.
On the other hand, BCH has offered all that BTC initially promised from its first month it was released.

By examining modern marketing and psychology theory, it is easy to pinpoint some ways of how brand names work in the contemporary world, and by extension how the popularity of BTC and BCH can affect their prices. It is notable that often a better known “name” for a product, prevails in sales over a much better in quality that is not as popular.

The average Joe will not do research that is sound enough to distinguish as to which is the better option. Therefore he will invest in whatever is more popular and accessible, BTC.
The whole idea is very worrying which produces some disturbing scenarios for crypto-markets future.

THIS IS AN OPINION FROM STEFANOS AND NOT AN INVESTMENT ADVICE

BITCOIN PRICE PLUMMETS BELOW THE $7000 MARK AS BITCOIN CASH GAINS 30%

By

Osaemezu Emmanuel

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November 11, 2017

The cancellation of the segwit2x Bitcoin hard fork has started to take its toll on the world’s number one cryptocurrency- Bitcoin. On the other hand, Bitcoin cash faithful had a lot to be confident about as the Bitcoin cash price skyrocketed, giving its investors over 30% gain.
Analysts believe that the Bitcoin Cash price surge is partly due to segwit2x cancellation and also because of the upcoming Bitcoin cash hard fork, which Bitcoin cash developers have agreed to activate on November 13.
Back in August 2017 when the Bitcoin hard fork which led to the coin split that gave birth to Bitcoin cash occurred, the open source developers behind Bitcoin cash promised to adjust the coding of the the Bitcoin cash software via a hard fork so as to make it more competitive to Bitcoin, in terms of profits to miners and quicker transaction confirmation time.
Bitcoin cash advocates are optimistic that in six months time, Bitcoin cash will be the more preferred Bitcoin. It remains to be seen how this event will unfold.
Despite the short-term bullish trend of Bitcoin cash, the total cryptocurrency market capitalization lost more than $7 billion, dropping from $206.3 on Thursday to its current position of $199.2 billion as at press time. This drastic decline simply shows that Bitcoin is still the almighty of cryptocurrencies and when it sees red, the market bleeds too.
BITCOIN PRICE BLOODBATH CONTINUES.
The latest Bitcoin price decline has now put the Bitcoin price at just over the $6700 mark, with bitcoin market capitalization at $112.50 billion, which is about 57% share of the total cryptocurrencies market capitalization.
Analysts say that the primary reason for this price correction is due to the last minute cancellation of the segwit2x hard fork, which has triggered a massive sell-off of Bitcoin by those investors who were interested in cashing in on the airdropped B2X coins if the fork had pulled through.
Although the suspension of the hard fork has given most Bitcoin investors a sigh of relief due to the uncertainties and disruptions that come with hard forks, analysts are still of the opinion that the indefinite suspension of segwit2x does not solve Bitcoin’s problem of rising transaction fees. Therefore, the Bitcoin network still needs to be scaled, in the near future to fix this issue once and for all.

ETHEREUM PRICE HITS $325 DESPITE BUG CRISIS ON PARITY ETHER WALLET

By

Osaemezu Emmanuel

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November 10, 2017

It appears that the cancellation of the Segwit2x hard fork which was earlier scheduled for activation on the 16th of November 2017, has given ethereum, the world’s number two cryptocurrency a breath of fresh air!.
The ethereum price has started to show positive bullish signs after a long bearish run. This comes at a time when a coding bug accidentally triggered in a major ethereum cryptocurrency wallet provider known as Parity, has frozen millions of dollars worth of ether.
This bug has made it almost impossible for users to move funds out of the wallet. This incident also happened in July 2017 when one of the Parity’s multisignature wallets was hacked because of coding error and the hackers stole almost $30 million worth of Ether, Ethereum’s digital token.
While Bitcoin was busy reaching new all-time highs and increasing its share of the total digital currencies market capitalization in October, the story wasn’t the same for other cryptocurrencies including ethereum. Even though ethereum was able to maintain its price at $300 and also its position as second largest cryptocurrency by its market capitalization, the ethereum market share still dropped to levels not seen since April, when it fared worse.
It appears the storm is over now and Ethereum investors are hoping for a clement weather going forward because in the past week, both the Ethereum price and the cryptocurrency’s market capitalization increased considerably well.
The Ethereum price leaped from the $289 price area on November 2 to $326 on November 9. Which is a solid 12% gain within a period of 9 days. It is pertinent to note that the Ethereum market capitalization has now successfully crossed the $31.1 billion mark.
Analysts believe the major factor responsible for the ethereum bullish trend is the cancellation of the segwit2x hard fork which was earlier scheduled to activate on the blockchain network on the 16th of November.
Investors who might have converted their ether to Bitcoin, so as to cash in on the opportunity of receiving free B2X coins have started returning their funds back to altcoins(alternative cryptocurrencies) they had previously invested in. This is evident in the minor price pullback that bitcoin experienced when the news of Segwit2x hard fork hit the Bitcoin community.
However, due to the Parity wallet accidental bug crisis which has trapped millions of dollars worth of ethereum and has raised questions about the usability, effectiveness and security of Solidity, which is the native programming language of ethereum, analysts have warned ethereum investors to thread the market with caution because there might be a hard fork leading to a coin-split on the ethereum network so as to restore the frozen funds and make it available again to its owners.

Tim Draper says in five years time from now fiat users will be laughed at…

By

Livine Sanchez

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November 8, 2017

In a discussion with john koetsier ,Mobile Economist at TUNE and a contributor at Forbes, Tim told john that in five years time from now if you try to use fiat you will be laughed at.

In five years, if you try to use fiat currency they will laugh at you, Bitcoin and other cryptocurriences will be so relevant … there will be no reason to have the fiat currencies.

Timothy Draper widely known as Tim Draper is one of the biggest billionaire technology investors and prominent venture capitalist , Tim is known for investing in projects with good future, some of them which are Tesla, Coinbase and Patreon.
Tim has been happy about bitcoin and was lucky to had seen the great potential of the world’s most popular and biggest digital currency, Bitcoin. he bought a lot of it at extremely cheap price in 2014 when bitcoin was still underrated.
He found out the good potential behind the Cryptocurrency and quickly bought it during an auction of 144,336 bitcoins which was seized in 2014 by the US government during the investigation into Silk Road, a dark web marketplace. Where Tim bought 30,000 bitcoin at the worth of $20 million from the US government during the Auction.Tim’s coins is now worth $200 million+.
In a statement after been asked how he feel knowing he owns a load of bitcoin, he said…

“I’m very excited about bitcoin and what it can do for the world. Bitcoin is a big transformation to the finance and commerce industry as the internet was for information and communications. If bitcoin were here in 2008, it would be a stability source for our world economy. Everybody should go out there and buy a bitcoin. Every investor who’s a fiduciary should at least be partially involved in bitcoin because it’s a hedge against all the other currencies. There’s a whole ecosystem being built that’s going to make commerce much easier with much less friction and safer.”

There are more people who also bought bitcoin at cheap prices and more thousands of people are learning more about bitcoin daily especially since its tremendous high since the start of this year, despite critics and regulation moves.