Bitcoin Above 1000 USD Again. A Sum up of Current Situation!
This year is great for Bitcoin, if this keeps going like this we may really see the famous 10 000 per coin one day.
Until then lets have a look at current news and situations.
Iran is Selling Out USD
Donald Trump decided to ban Iran travellers going to USA, so the country decided to dump USDs to make the currency weaker and show their unhapiness. So if you have signal that USD may go down what do you do? Buy Bitcoin and Gold ;)
The important thing here is Iran exports OIL and OIL is paired with USD.
Bitcoin is worth more than 1 oz Platinum
BTC is called gold, for now its Platinum. Lets just wait and see. This means that investing in BTC is better than even than into Platinum. Remember you can trade XPT/USD on SimpleFX anonymously with Bitcoin.
Worth noting that in 2013 on the bubble BTC was not even close to XPT.
Bitcoin Hashpower is on the Top
Just look it doubled since December 2016. This is because there is big fight on the fork - the ones with more power will win. Currently Bitcoin Unlimited have raced SegWit.
EU plans to make Database of BTC addresses
EU Commision wants all users bank accounts and crypto wallets to be saved in a big database to de-anonymize them. Not sure if they will actually make it or if they understand how this works but worth watching. BTC going into underground was only working better for the price in the past.
No more Zero Fees in China
China stopped the 0% fee trading yet still keeps on the top of the list. Only the BTCC is gone from top for now. Bitfinex drives the volume then Huobi and Okcoin.
Previous posts that may explain of what i wrote here:
OKCoin, Huobi & BTCC will start charging trading fees from 24th January - https://steemit.com/bitcoin/@kingscrown/okcoin-huobi-and-btcc-will-start-charging-trading-fees-from-24th-january
Coblee the LTC creator predicts 88 CNY per LTC - https://steemit.com/bitcoin/@kingscrown/coblee-the-ltc-creator-predicts-1300-usd-per-btc-this-month-and-other-bullish-news
Bitcoin Leverage Trading Platforms - https://steemit.com/bitcoin/@kingscrown/my-review-of-bitcoin-leverage-trading-platforms-choose-best-one-for-your-needs
Bitcoin Unlimited to Actually Fork BTC Before SegWit ? - https://steemit.com/bitcoin/@kingscrown/bitcoin-unlimited-to-actually-fork-btc-before-segwit-keep-eye-on-ltc-too
This is very interesting times alright, thanks for sharing all this information with us all. All for one and one for all! Namaste :)
Appreciated :)
"EU plans to make Database of BTC addresses" ??? What part of peer 2 peer don't they understand...
EU Commision wants all users bank accounts and crypto wallets to be saved in a big database to de-anonymize them.
LOLOLOL
You think thats not feasible? I hope so, but don´t underestimate the German burocrazy :-(
There is a site http://directory.io. --very funny.
Can someone send it to them? It's a complete database XD
Reminds me to the the Library of Babel https://libraryofbabel.info/
A library of "every book that ever has been written, and every book that ever could be"
I live in Norway, the US can buy their oil from us, we have shit loads of it.
If the EU really went ahead and made a law for all Bitcoin addresses then perhaps something like Monero or DASH would make gains there - although I think DASH would probably come in line with Govt forces.
The fact that China have so any mining farms is also concerning, I know there is a big one in Iceland and we need more spread out like that to keep it decentralized.
If the shit hits the fan with the economy I think precious metals would only have their value if it has a use. Bitcoin will keep its value if it can be used to buy stuff.
The way I see it is, if some bank took all my money then what would I do.
I would have to trade for bread, milk, vegetables etc.
I grow my own vegetables in my garden and If someone came to me with a gold coin I would say "Wtf can I do with that, I get me some bread and you can have some potatoes"
If i can buy bread with Bitcoin then suddenly Bitcoin or other crypto will become the main currency of the world.
Thanks for the update:
Great points. The centralisation of Bitcoin mining is a big concern - Dan has written about it before. I think our western national governments would be wise to start addressing this issue.
I agree.
I have an idea here in Norway.
There is lots of water here with lots of rivers everywhere, Most of the big rivers are used for the main electricity supply but there are thousands of small ones that could easily drive a water turbine that would easily supply 2 or 3 houses with electricity. There is one just outside my house now.
Anyway, if I hooked up a one of these small generators I could then hook that up to a big coin mining rig and I would not have to pay a dollar in electricity lol!
If the Govt saw what I was doing then may be they would see that Bitcoin mining was a viable business option here in Norway and again it would help to keep Bitcoin decentralized.
I get crazy ideas sometimes @thecryptofiend lol!
Crazy is sometimes really creative!
Good point!
Not crazy at all; just that the operation costs of that water generator are still not for free; initial materials to buy, maintenance, IT staff travelling around to operate the computers & trouble shoot; I love this picture that everywhere around the rivers in this beautiful landscape small mining huts are located (I am from Austria, we have lot of water as well); one would need to do a serious business case around it
Wow fantastic to hear that, brilliant.
Yeah I am currently looking into the set-up costs.
I have good friends who are clever in IT and I could get them involved.
Bitcoin is still relatively unknown here in Norway probably because the economy is so strong they dont need it.
There only handful of people being involved with it and I I know some of them who deal in Bitcoin on the Localbitcoins network and they might invest in such a venture. And there is a millionaire guy lives next door but one to me who always invests in new things. I reckon I will have a talk with him.
Could be something here.
If all goes well I will write a post about it.
You have the best premises, experts plus a millionaire around :-)
Wish you good luck, and yes, please keep us posted.
yeaaaahh!!!
Loving your posts!
EU wants a data base of ALL btc addresses? Mine too?
hmmm, they don't sound very bright...
Thanks man, im doing my best
EU forced registering of accounts? That doesn't sound good at all. If anything it will push people towards other altcoins that actually provide anonymity and fungibility which bitcoin fails to do. Which is great for altcoins ;)
very nice article about bitcoin and its future rise of price in the market.
We need a petro-bitcoin system!
That would rock!
I downvoted this due to disagreement on rewards.
Hopefully, the OP will revenge DV this comment instead of a helpful comment in someone elses thread.