Day: November 3, 2017

At the London Blockchain Summit this week, the U.K.’s Royal Mint revealed details of its gold tracking blockchain, RMG, and hinted at plans to come.

Things just keep on getting better and better for Bitcoin these days. With so much positive attention, it is no longer any surprise the Bitcoin price has set yet another new all-time high earlier today. More specifically, the Bitcoin price briefly surpassed $7,461 earlier this morning, although it was followed by a sharp dip. It will be interesting to see how things market evolves in the coming hours and days, to say the very least.

Another Bitcoin Price Milestone

If there is one thing the year 2017 has shown the world, it is how the Bitcoin price can reach multiple all-time highs in quick succession. Especially the past few months have been pretty interesting, with multiple milestones being reached. Not too long ago, it seemed as if reaching a Bitcoin price of $5,000 would be impossible. Today, people are more concerned whether or not we will reach $10,000 before the year is over. This wild Bitcoin price ride is far from over, by the look of things.

Even the past 24 hours have been pretty volatile for Bitcoin, but the volatility has resulted in a new all-time high. More specifically, we have seen the Bitcoin price go from $6,900 to $7,200 before the first rejection became apparent. Subsequent attempts to reclaim $7,200 were unsuccessful until a few hours ago. Ever since, we haven’t dipped below $7,275 again. It is evident this Bitcoin price momentum is stronger than ever, even though it is mainly fueled by speculation more than anything else.

Whether or not the Bitcoin price will remain above $7,250 for the remainder of the day, is a question that can’t be answered with ease. It certainly looks as if the market is preparing for another dip, although this momentum may very well be a bear trap as well. Nothing makes sense when it comes to the Bitcoin price right now, although that in itself shouldn’t really surprise anyone in this day and age. Another leg up to $7,500 isn’t entirely out of the question either, though.

With the strong trading volume firmly locked in place, there is no reason to think the Bitcoin price momentum will reverse anytime soon. Over $382bn worth of BTC has been changing hands over the past 24 hours, which is an absolutely mind-boggling number. Then again, everyone is converting whatever they can spare to Bitcoin, even though we see altcoins recovering some of their lost value as well. It will be interesting to keep an eye on the cryptocurrency markets as a whole in this regard, especially now that we are close to a total market cap of $200bn.

It does seem there have been some changes in the exchanges ranked by Bitcoin trading volume. More specifically, Bitfinex is still the clear leader. However, Bithumb is no longer in the top three, as bitFlyer now sits comfortably in second place. GDAX is the new entrant in the top three, which isn’t something a lot of people saw coming. Then again, the world of Bitcoin offers plenty of surprises on a regular basis, and this development only illustrates that point even more.

The big question on everyone’s mind is whether or not the Bitcoin price will surpass $7,500 before the day is over. Right now, that seems a more than likely outcome, although there will be a major correction along the way as well at some point. It may not come today or next week, but when it arrives, everyone will know about it pretty quickly. This “unknown” is part of what makes cryptocurrency so attractive to investors, though.

Goldman Sachs CEO Lloyd Blankfein can see Bitcoin as the next logical progression in money.

From fake ICOs and exchanges to email and wallet scams, there are plenty of things to keep your eye on when negotiating the world of cryptocurrencies.

Cryptocurrency ATMs have become increasingly popular as of late. Although not every country has such a device, things are evolving in the right direction. Several operators even support a few altcoins these days. BitcoinPlug has made an interesting announcement in this regard. The company will enable Bitcoin Cash on all of their Bitcoin ATMs throughout Los Angeles.

Making Bitcoin Cash more accessible to consumers is a big challenge. More specifically, there are plenty of exchanges who support BCH. However, the number of fiat markets is still pretty small, for some reason. LocalBitcoinCash is one platform attempting to alleviate this situation in the future. It now seems BitcoinPlug has also come up with a plan to make this process a lot easier. Although only available to residents of Los Angeles, it is an interesting precedent regardless.

BitcoinPlug Makes a Bold Decision

More specifically, the company wants to introduce a new altcoin through their Bitcoin ATM network. Bitcoin Cash will be supported in the very near future. No official date has been communicated at the time of writing. We do know all of their Los Angeles ATMs will receive this upgrade around the same time. This is big news for the company, to say the very least. They operate a total of 21 Bitcoin ATMs throughout California right now. Quite a few of these are located in Los Angeles itself.

We are excited to soon offer #Bitcoin Cash at all of our #LosAngeles BATM locations. Thank you @generalbytes! pic.twitter.com/qCNGb5JptC

— BitcoinPlug (@bitcoinplugatm) November 1, 2017

It is important to note these are not two-way ATMs. Customers will be able to buy Bitcoin Cash but not sell it. It is possible that functionality will come later on, but for now, there is no official confirmation. Bitcoin Cash will be the third currency provided on these ATMs. Earlier, BitcoinPlug already enabled Litecoin support as well.  An interesting choice, to say the very least. It also shows how popular BCH really is these days.

It will be interesting to see whether or not other operators will follow this example. More specifically, there is a big market waiting to be tapped in this regard. Altcoin demand is reaching new heights every single month. It is evident these ATMs are gateways for conveniently purchasing cryptocurrencies. Adding altcoin support makes a lot of sense. Bitcoin Cash is an interesting choice for BitcoinPlug. For now, no one knows if there will be enough demand to justify the decision.

The post BitcoinPlug Will Enable Bitcoin Cash on all of Their Los Angeles ATMs Soon appeared first on NEWSBTC.

The value blockchains offer to supply-chain management will come once other technologies, such as 3D printing, disrupt global manufacturing networks.

In search of ‘stability’ is how Allianz’s chief economic advisor now describes Bitcoin.

Instances of real ingenuity are something of a rare thing these days. Skycoin and allied product SkyWire are two facets of a new startup that is aiming to transform the currency crypto world in the future with a long-term plan in mind.

Disclosure: This is a Sponsored Article

While Bitcoin and the rest of the first generation cryptocurrencies was instrumental in the rise of digital cash, it didn’t implement the core concepts of decentralization and giving the power back to the people. While the cryptocurrency itself still works very well according to this promise, the real-time influence over Bitcoin has become centralized within the network.

For example, we have powerful mining cartels in the business who run the free market and now introduce forks on a seemingly regular basis. Bitcoin’s first fork; Bitcoin Cash, was largely due to the interests of miners and since then, the currency has split into two. Even though these changes may not mean that much, as Bitcoin still reigns supreme, but it is still a hindrance towards further updates and development on the original Bitcoin blockchain.

Since more updates are coming our way on the blockchain, two more Bitcoin forks are being planned in the near future. Thus, the threat of even more dangerous forks is real and has the potential to upend the once-level playing field that was the original vision of the Bitcoin movement.

SkyCoin are now coming up with a new concept built around a new algorithm created from scratch. The algorithm is called Obelisk, and the new platform will be devoid of mining altogether, making it impossible for people with more resources to hold the future currency hostage with their moves.

Instead of mining, the new SkyCoin aims to launch a “Web of Trust” system, as they call it. The system will go further than the Bitcoin protocol to allow true decentralization of any platform. There are different facets of the development of Skycoin:

1. SkyCoin
2. SkyWire aka the new internet
3. Skyledger
4. App Ecosystem
5. Hardware platform

So, instead of making hefty claims over a new token’s performance, which in most cases are just promises that may or may not be honored, SkyCoin aims to take the long-term route. The SkyWire, a new decentralized internet based on the new Obelisk, is a true game changer for the world. Such a decentralized form of internet can be the holy grail of blockchain development, and SkyCoin team is dedicating a large portion of their future to it.

While some may call it a golden goose that everyone wants to chase but simply doesn’t exist in real life, experts in blockchain development know that the blockchain was meant to fuel technologies like SkyWire. The new internet will be based on a symbiotic relationship with between SkyWire and SkyCoin. The SkyCoin will eventually fuel the new development.

Apart from these groundbreaking improvements and ideas, SkyCoin is also launching some regular yet innovative products that can kickstart its acceptance and appeal in the crypto world. They include a SkyCoin Wallet 2.0, a new mobile wallet, and a site revamp. Other long-term targets like coding rewrite, cluster management and a quicker SkyCoin Wallet and exchange federation protocol are also in the works right now.

They aren’t looking for funding, but if you want to become a part of this inspiring future of the blockchain, you can associate yourself with SkyCoin voluntarily. You can visit their website to find more information.

Skycoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Argentina’s largest futures market, Mercado de Termino de Rosario or Rofex, is considering offering cryptocurrency products to investors.

Amid a surging cryptocurrency market, bitcoin price gains have continued today, reaching a new all-time high of over $7,450.