Bitcoin Silicon Valley May Be Moscow. Australia Legitimizes Bitcoin. Korea Mining & South Africa.

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Hello fellow subscribers and new people to my blog post. This post will focus on my recent Bitcoin Flash report [1] from the other day, but first I just want to recap what's going on in this market. It's a crazy day in the crypto market and with Bitcoin price holding at around $3,400. Well, that craziness in price never seems to stop. And for my gold people out there, “Gold And Hold,” as Adam Meister would say. One Bitcoin would currently buy you approximately 2.6 ounces of gold, which is still very good. Okay so...all I want to say to you guys about this hot market right now is before you jump into it for the first time or again, although there are some good opportunities, be cautious!

This reminds me of the quote by famous business man Warren Buffett as saying, "Be fearful when others are greedy and greedy when others are fearful." And on this channel at least for the past month or forever, I have NOT mentioned what to buy or sell or what ICOs to invest in. That is not what my channel is all about. And I honestly think that there are too many YouTubers already out there saying the same exact stuff. And the funny thing about that is there are some that are paid actors talking and marketing these coins or tokens for folks to buy, get into, and then eventually lose their money. It’s just silly guys. To me it gets boring and annoying especially if you have been in this space for a while. And with a hot market like this, you will absolutely hear about ICOs coming out once again and prices being pumped higher and higher.

So, before you invest in any of these companies, please do your research. And get a balanced perspective of the ICOs out there. If you don't like reading, then find a YouTuber that praises the ICO you are interested in and at the other end of the spectrum please find one that hates it to death. And to my business people that are listening or reading this info via LinkedIn, smart people and 24-hour workaholics, what I talk about with respect to what is going on in the southern part of the globe should hopefully incentivize and encourage you to look at opportunities in your area to start growing your small business and organization. You have Fortune 500 companies like Subway, "eating fresh" every day on Bitcoin transactions. You have online retailers like Overstock.com accepting more than 60 different types of cryptocurrencies. And at the opposite end, you have banks via the use of merchants cashing out these virtual currencies on exchanges for fiat, physical currencies. And that is just a small list of what is already going on right now. This content that you are currently reading is already posted on Steemit. Steemit is a social media platform on its own blockchain! We are living in the most exciting times ever, so take advantage of it.

Australia Tries to Make Bitcoin an Official Currency
So, before I digress, let me jump into today’s news starting with Australia. This information is coming from Bitcoin.com’s writer Kevin Helms. The headline reads "Australian Senators Push Reserve Bank to Make Bitcoin Official Currency." So, what's happening is that two senators, one from the labor party (Sam Dastyari) and the other from the liberal party (Jane Hume) are proposing this idea. So, guys and gals no ruling has been made on this, which means we just must stay tuned to find out what happens.[2] If they do end up favoring Bitcoin, which I think is very unlikely given how our financial system operates, this would be huge news. Each country's reserve bank is connected to one another, so I am not sure how much thought these two progressive senators have put into this. But if this passes, it would be good for Bitcoin. Let me know what you guys think about this proposal.

1. How do you feel about government being involved in Bitcoin?
2. Do you have any suspicions or questions regarding this involvement?

My thoughts on this issue is that getting government involved might not be in the best interest for Bitcoin people. I think people are happy with how Bitcoin functions. It functions as a store of value, and it lets people transact. And currently there are retailers out there who support Bitcoin with these retailers growing in support for Bitcoin transactions daily. Bitcoin I think has a self-checking process. And what I mean by that is it’s already capped at 21 million coins meaning no more coins can be made after that. The only problem with Bitcoin as you can guess is the volatile price movements, but we are seeing people invest in it regardless. And most of the investors, which even includes users of Bitcoin in daily commerce in poor areas like South America and Africa, are aware of these risks. So, those are just my thoughts. But we must keep in mind all parties and perspectives in this matter.

In doing so, I will now jump into the pros of government. So, if Australia were to make this an official currency, it does not just limit it to Australia. It makes it official around the whole world. If you look at the Chinese Yen, it’s a currency. Isn’t it? So, isn’t it official! Obviously, the Yen might not be used in your country unless you live in China, but you can exchange the currency into your own local currency at your bank. Another pro of making Bitcoin an official currency is that it gives Bitcoin more legitimacy. This means mom and papa banks will start to recognize it. And when banks do, so does everyone else in some form.

Furthermore, if they make it official in Australia and you are living in some other part of the world where you cannot use Bitcoin, for example, in places where it’s banned like in Egypt, you could technically find a middleman that can process those Bitcoins for you via an Australian broker. Australia will essential act as a BitPay hub. So definitely, more opportunities for Australia at best here to cash in.

And lastly, I want to look at the group of people who have the mindset of “wanting” a small government. This group includes Libertarians, anarcho-capitalist, and other small government ideologs. I seriously think they would hate this idea of making Bitcoin a currency. They hate what government has done to the price of gold. So, at the end what makes anyone think that anything good will come out of this currency speculation news from Australia?!

The fact that Bitcoin is capped to 21 million coins might help this group of people relax, but what if in some strange manner governments start to devalue the price of Bitcoin compared to other currencies as has happened to gold. I am just sharing the mindset of different groups of people that listen to my channel. And again, let me know what you think? I could be 100% off on this topic.

South Korea and North Korea Bitcoin Mining Operations
This Australian conversation is like a good segue talk going into the South Korean mining situation.[3] The East side of the world seems to be in this interesting power and control play with respect to Bitcoin. You have Australia trying to further legitimize Bitcoin as a currency. But over here in South Korea you have citizens using their storefronts as Bitcoin mining stations. And who knows, they might be mining this new cryptocurrency BCash (Bitcoin Cash) on empty blocks. Well the companies of these stores are hearing complaints from their customers saying that the stores are too hot when they walk in because of all the computers running. Like I wonder if anyone in our society in the West stopped to think what the hell is going on in the East. It’s like Bitcoin diarrhea over there.

But in the West, we cannot stop talking about Donald Trump's reaction to North Korea's president, Km Jong Un. (And to all you guys reading or listening to this) Is that really news?! Who by now is actually surprised about any of Donald Trump’s statements. He’s been like that since he was born. It goes to show you why people are developing and making moves in the East, while over in the West, in the United States, we are just regurgitating the same old new. No one thinks including Trump that North Korea is a threat other than our mainstream media. I think what’s a real threat in North Korea is the fact that someone found the North Koreans using a Bitcoin mining facility to help create Bitcoins. That’s a real threat rather than North Korea’s 1950’s nuclear missile capabilities.

But I digress here. What we are seeing in the East is a serious conversation about adoption of cryptocurrencies and their technologies. We see Australians legitimizing Bitcoin like every quarter. South and North Korea mining Bitcoin, and now the Russians are considering Bitcoin mining stations and giving ICO companies a tech-hub. And I think Max Keiser from RT (Russian Television) should be thanked by the Russians for birthing this Crypto boom because he’s been talking about this on Russian news media at least every day. Moscow could be the next Silicon Valley for cryptocurrencies if we in the West keep on bringing up old news. I was going to title this Video, "Crypto Cold War," but I realized you need at least two people involved in a Cold War and as such the US does not seem to be doing much of anything. The only thing we have in this country are YouTubers trying to explain to the public “What is Bitcoin”. And it's been a year of this madness. The titles of American news shows have been “What is Bitcoin?” And I’m like, where the hell have you been, “under a rock or something?”

South African Online Stores Already Accepted Bitcoin Before Overstock.com
Anyway, I should talk about Africa as I can’t leave them off. More specifically, the country, South Africa because they keep on doing some very cool stuff. And though South Africa is not mining Bitcoins in as large of capacities as their eastern neighbors, they are way ahead in the cryptocurrency land and that might actually be a result of their questionable government and their currency, the Rand. So, ironically it all works out for South Africa. I even hear of Bitcoin exchanges based out in South Africa like ICE3X incorporating Litecoin and Ethereum into their platform. And that’s actually a big deal for an African country as most of the exchanges over there just support Bitcoin. Also, online South African retailers like ShopALot Dot Com have been accepting Bitcoin payments far more recently than Overstock.com. And even now there is at least one push in South Africa to get people to go shopping with their credit cards tied to their cryptocurrency wallets. This credit card, crypto wallet company is called Cryptopay[4].

Folks in the US, more particularly the media, and even our western allies must realize that these technologies will change the way we do things. We are seeing the "Uber"-ization of industries taking the middlemen out of the vertical distribution system with future platforms from China like NEO and blockchain type of credit cards like Cryptopay. And yes, I know in the US we have the Ethereum alliance, and that’s a good start for us to build on something. Also, Ubiq and EOS will help in the west as well.

Anyway, guys I have been talking a lot. Whether you are new or listening to this on LinkedIn, Steemit, and YouTube, please let me know what you think about this. I post this stuff on Facebook too, but I have not gotten one single LIKE on any of my Bitcoin info! (And I am not joking). Everyone is talking about Colin Kaepernick, the American Football Player. Oh boy.. I think we are entering the Armageddon stage of cryptocurrencies and the folks that will be Left Behind might be the United States and its closest allies. Alright folks that’s all for today. Have a great day!

…You can check out references to the above on Steemit. Thank you for either watching or reading. Stayed tuned and look out for a full commentary on these headlines on my channel really soon. You can subscribe on YouTube or Follow me on Steemit for more information.

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Relevant Sources:

[1] Bitcoin Explodes Higher! Push for Bitcoin to Become a Currency in Australia by Bitcoin Flash. https://steemit.com/bitcoin/@sobuka/1-bitcoin-2-70-oz-of-gold-bitcoin-flash-2-min-news-on-south-hemisphere

[2] Title: Australian Senators Push Reserve Bank to Make Bitcoin Official Currency. Kevin Helms. 8/8/2017. Bitcoin.com
https://news.bitcoin.com/australian-senators-reserve-bank-bitcoin-official-currency/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

If you like this article, you may be interested in the following Steemit posts that talks about South Korea's, Yongsan Electronics Market, banning mining at their shopping centers:

1. "1 Bitcoin = 2.60 oz. of Gold. Australia Venezuela Mexico South Africa India and Kenya." https://steemit.com/gold/@sobuka/1-bitcoin-2-60-oz-of-gold-australia-venezuela-mexico-south-africa-india-and-kenya

[3]Title: South Korean Shopping Mall Prohibits Bitcoin Mining. Stelin Lujan. 8/8/2017. Bitcoin.com. https://news.bitcoin.com/south-korean-shopping-mall-prohibits-bitcoin-mining/

If you like this article, you may be interested in the following Steemit posts that talks about South Korea's, Yongsan Electronics Market, banning mining at their shopping centers:

1. "1 Bitcoin = 2.60 oz. of Gold. Australia Venezuela Mexico South Africa India and Kenya." https://steemit.com/gold/@sobuka/1-bitcoin-2-60-oz-of-gold-australia-venezuela-mexico-south-africa-india-and-kenya

2. "South Korean Bitcoin Mining. Bitcoin Growth in Australia. Bitcoin Cash and India.". Video is below.

[4]Title: How to Get a Bitcoin or Ethereum Debit Card in South Africa. Jamie McKane. 8/7/2017. MyBroadBank South Africa. https://mybroadband.co.za/news/cryptocurrency/220264-how-to-get-a-bitcoin-or-ethereum-debit-card-in-south-africa.html

If you like this article, you may be interested in the following Steemit posts that talks about South Korea's, Yongsan Electronics Market, banning mining at their shopping centers:

1. "1 Bitcoin = 2.60 oz of Gold. Australia Venezuela Mexico South Africa India and Kenya." https://steemit.com/gold/@sobuka/1-bitcoin-2-60-oz-of-gold-australia-venezuela-mexico-south-africa-india-and-kenya''

2. "Full Show. Bitcoin South Africa, North & South Korea, and Bolivia. Free at Last."
   https://steemit.com/bitcoin/@sobuka/7-27-2017-full-show-bitcoin-south-africa-north-and-south-korea-and-bolivia-free-at-last

3. "South Africa's Online Retail Increases with Bitcoin Payments." https://steemit.com/southafrica/@sobuka/south-africa-s-online-retail-increases-with-bitcoin-payments