Digital currencies like Bitcoin are back in the news in a big way. Major influxes of investment, increased usage, and public votes confidence from influential financial industry players seem to be validating a technology once thought to be solely the realm of hobbyists and tinkerers.
During a speech last month, Fidelity CEO Abigail Johnson declared that she still believes in digital currencies and revealed the company’s forays into the technology. She went on to outline several hurdles that she sees the technology needing to clear before it reaches mainstream adoption, one of which she called “the policy challenge.” Johnson correctly pointed out that innovation in the space “is outpacing the regulator’s ability to keep up.”

It’s not hard to see why this technology is exciting the world of payments. Traditionally we’ve had to rely on intermediaries like PayPal to maintain a database of account balances and transactions in order to send money online. In Bitcoin that database is maintained by thousands of nodes in an open network and constantly validated by the work of countless miners. Suddenly you don’t need to trust PayPal anymore. Since there is no intermediary, Bitcoin works a lot like cash, but online.

Many applications of digital currencies like Bitcoin don’t fit into traditional legal buckets and some legal concepts may need to be rethought. If a regulator tries to apply old legal concepts to this new technology, companies that were never intended to be covered by existing laws could find themselves in a costly grey area. This undoubtedly chills innovation in the space and likely will drive it overseas.
Two decades ago, early Internet developers found themselves in a legal gray area. If old laws were strictly applied to them, they could be held responsible for the content that their users uploaded to their websites. In the 1990s, Congress passed the Communications Decency Act (CDA) and the Digital Millennium Copyright Act (DMCA). The laws protected Internet companies from liability for what their users did. Without these laws, the Internet would probably still exist today, but it would be a very different, and likely less useful, tool.

Regulators should be looking at Bitcoin in the same way. Bitcoin could become critical infrastructure that one day revolutionizes the online economy. Like the open Internet, support from government is key to fostering its growth. Fortunately, there are concrete steps that the U.S. government can take to ensure the country’s competitiveness in this booming sector.

http://fortune.com/2017/06/01/bitcoin-price-drop-crash-cryptocurrency-mainstream/

Bitcoin is taking off after China's biggest exchanges allow withdrawals

Bitcoin is back to its old ways after a few quiet sessions.

The cryptocurrency trades up 4.1% at $2,407 a coin following news that China's three largest bitcoin exchanges are allowing customers to withdraw bitcoins from their accounts.

The news follows months of uncertainty for customers of the exchanges, who back in February were told they would be unable to take bitcoin out of their accounts. At the time, bitcoin was threatening its record high of $1,161 a coin before plunging more than 10% on the news.

Since then, however, things have been going pretty well for the cryptocurrency. Aside from the US Securities and Exchange Commission rejecting two bitcoin ETFs, bitcoin has seen a steady stream of good news.

In early April, Japan announced bitcoin had become a legal payment method in the country. Additionally, Russia's largest online retailer, Ulmart, began accepting bitcoin despite Russia's saying it wouldn't consider the use of the cryptocurrency until 2018

http://www.businessinsider.com/bitcoin-price-taking-off-after-one-of-chinas-biggest-exchanges-resumes-withdrawals-2017-6

Thursday, 1 Jun 2017 | 12:34 AM ET | 04:04

The digital currency bitcoin is currently still near all-time highs, but bullish calls remain for the asset. One investor thinks it could almost double to $4,000 by the end of 2017.

Bitcoin hit an all-time high in late May, reaching to $2791.70 according to CoinDesk data, recording a 180 percent rally year-to-date. There was a subsequent price correction towards $2,100 but bitcoin currently stands around $2,468.56. The market cap for bitcoin has swelled to more than $40 billion.

The bitcoin rally has been fueled by several causes:

• Japan passed a law in April recognizing the digital currency as a legal method of payment, leading to a surge in demand from Asian countries.
• The U.S. Securities and Exchange Commission is reviewing a decision regarding approval for a bitcoin-based exchange traded fund proposed by Cameron and Tyler Winklevoss, known for their lawsuit against Facebook founder Mark Zuckerberg.
• Other countries, including Russia, are looking at how to regulate bitcoin in order to tax it, but this could further stimulate demand for the cryptocurrency as it becomes legitimized.

http://www.cnbc.com/2017/06/01/bitcoin-may-hit-4000-by-the-end-of-the-year-analyst.html
http://www.cnbc.com/2017/06/01/bitcoin-may-hit-4000-by-the-end-of-the-year-analyst.html

to infinity and beyond



There is no limit in price, since the supply is limited but the demand is not

Não seria irônico se, depois deles falarem tão mal do mercado bitcoin, eles que implodissem no estilo Cryptsy, para não dizer Gox?

The transaction fee depends of how much is transferred

Weird coin, ether is

Seeing gains on top of gains increases investor confidence that those gains will last.

Bitcoin has been on an unbelievable run. The cryptocurrency is up around 124 percent for 2017. And that’s after it gained 125 percent in 2016. In May alone, it’s up more than 60 percent. It’s hard to know what the long-term impact or performance will be, but one thing’s for sure -- investors are swept up in cryptocurrency mania.

https://www.bloomberg.com/view/articles/2017-05-31/bitcoin-stocks-and-the-fear-of-missing-out

maybe he misstyped the fee, like happened more than once with Bitcoin?

Bigger in absolute value of the rise, of course

and I still can't set up my ethereum core, the thing just refuses to sync

But not all places that accept Bitcoin will accept Ripple too.

And yo make the conversion you'll have to pay one or two transaction fees(one to send to exchange and other to withdraw).

Unless the site accepts the alt, the problem would only get worse

Sim, mas porque a demanda varia?

Tech journalist accidentally throws away £2.5 million worth of Bitcoin – and he’s not the only one who’s lost a fortune

Unfortunate writer joins a list of people who mislaid vast sums of the virtual currency when it was worthless and then watched it soar in value

WHEN the digital currency bitcoin was first introduced, it was essentially worthless.

Now just one of the electronic “coins” is worth more than £1,764 and many early investors are celebrating their new-found wealth.

But one tech journalist missed out on the virtual gold rush because he threw away a hard drive which he used to store 1,400 bitcoins back when they were worth peanuts – and he’s not the only one to make a similar mistake.

Now Campbell Simpson is kicking himself because his lost stash is worth a whopping £2.5 million.

“Five years ago, I threw away a hard drive- an utterly generic 250GB portable hard drive, already a few years old, with a couple of dings and scratches in its shell and with the beginnings of an audible click that would have eventually killed it,” the Australian journo wrote on Gizmodo.


https://www.thesun.co.uk/tech/3682157/tech-journalist-accidentally-throws-away-2-5-million-worth-of-bitcoin-and-hes-not-the-only-one-whos-lost-a-fortune/

7 days of green weekly candles?

This rise was bigger than the 2013 bubble

What is Bitcoin, what is its price in pound sterling and how does it work? All you need to know

THE controversial computer currency Bitcoin that’s worth more than gold is a type of digital currency that was invented by an unknown developer.

As it stands (May 30) a single bitcoin is worth £1,779 while a troy ounce of gold is worth $1,290 (£1,003). Here’s all you need to know…

What is Bitcoin?

Bitcoin is a virtual currency which was created in 2009 by an unknown person using the alias Satoshi Nakamoto.

Transactions are made without middle men, so there are no transaction fees and no need to give your real name.

More businesses are beginning to accept them and in some parts of the world you can even buy pizza with bitcoins.

You can set up a virtual wallet websites like Blockchain to store,  keep track and spend your digital money.

You are also able to purchase Bitcoin through an online exchange or Bitcoin ATM.

To find merchants that accepts Bitcoin in the UK click here.

Bitcoins aren’t printed, like pounds, dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world.

It’s the first example of a growing category of money known as cryptocurrency.

Bitcoin is attractive to some users because of its anonymity, as well as its lack of government control.

The website Silk Road was closed in 2013 following raids by the FBI and other agencies amid allegations of drug dealing with authorities seizing millions of dollars worth of Bitcoin during the raids.

How does Bitcoin work?

The value of Bitcoin, like all currencies, is determined by how much people are willing to exchange it for.

To process Bitcoin transactions, a procedure called ‘mining’ must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.

For each problem solved, one block of Bitcoins is processed.

In addition the miner is rewarded with new bitcoins.

To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of new bitcoins are produced each day.

There are currently about 15 million in existence.

(...)

https://www.thesun.co.uk/news/3000715/bitcoin-nhs-pound-sterling/

But he correctly predicted the $2k price. But you are right, in 10 years no one will remember it, specially if he is wrong

User: Eric Cartman
Postion to Apply: Senior Member
Posts Start: 264
Address: 1CmsEZwxN3dFXjcMp14mxwUcKJxedHp1zF

go to Bitfinex, they are above ATH