Cryptocurrency News for 16 Aug 2017
$8,000 Bitcoin is Possible if it Follows Litecoin’s Post-SegWit Example
Bitcoin’s miners recently locked-in the Segregated Witness (SegWit) upgrade, and it will be automatically activated at the next difficulty adjustment in about a week. SegWit represents a major upgrade to the network by itself, but it also enables even further improvements such as the lightning network.
Many are hoping that SegWit’s activation will result in further price appreciation. Traders are eyeing the example set by Litecoin, whose price doubled in just four months following its SegWit activation.
Segregated Witness is a change in Bitcoin’s code that will allow certain data within each block to be separated, or segregated, from ordinary transaction data. It effectively increases the size of Bitcoin’s blocks. SegWit also fixes Bitcoin’s transaction malleability problem. The malleability fix is extremely important because it will enable the deployment of the lightning network, enabling further scaling.
The Segregated Witness code was originally designed for Bitcoin, but Litecoin was the first major virtual currency to activate it.
Full story at http://bit.ly/2uO152b
Source: CoinTelegraph
The wild world of cryptocurrency—and how it could make you rich
When Bitcoin debuted in 2009, its early adopters bought up large amounts of the digital currency for pennies. Since then, Bitcoin’s value has increased dramatically, turning several of those initial investors into millionaires. But the economics surrounding Bitcoin and other forms of digital currency like Ethereum, Ripple, Litecoin, and most recently, Bitcoin Cash, all dubbed “cryptocurrency,” can be unpredictable and complicated.
One huge benefit to using cryptocurrency is that it can't be stolen or counterfeit. When digital currencies are exchanged, they're converted into illegible code that not only makes them secure but also makes the sender and receiver appear anonymous. Unlike normal currency, digital currencies are not government regulated. No high bank fees, no fluctuations based on government regulations, and no corrupt bank antics. Sounds pretty nice, right?
Unfortunately, with decentralization comes instability, and cryptocurrencies are known for being highly volatile and unpredictable. Like most high-risk investments, this leaves opportunity for reaching ridiculous levels of wealth (meaning you can finally blow your nose in hundred dollar bills).
For the average person to achieve success in cryptocurrency marketplaces, he or she will need to get learning. That’s where the Beginner’s Guide to Cryptocurrency Investing comes in. It will give you all the knowledge you’ll need to make smart choices and turn your physical cash into a sizable digital stash.
Full story at http://on.mash.to/2uNKgo4
Source: Mashable
Bitcoin Q&A: Solar energy and mining in space
Published on 15 Aug 2017
Solar energy efficiency advances and proof-of-work. Factoring in capital costs of/ access to solar panels & mining equipment, access to internet, opportunity cost for excess energy and storage capacity. Energy scarcity is a fundamental issue. Sudoku as a proof-of-work algorithm. Bitcoin mining in space.
Full story at http://bit.ly/2uNSgFr
Source: Steemit
Mainstream Acceptance of Bitcoin is Almost Certain, But We’re Not There Yet
The current bull market is outrageous. Long-dead altcoins are being pumped to 10,000% gains, ICOs are raising hundreds of millions of dollars, and the talk over on /r/ethtrader is dominated by folks with lambos. In the midst of it all, Bitcoin has gradually increased its price, from just over $1000 at the beginning of the year to $4250 at press time.
Many are calling this market a bubble, saying that everything that goes up must come down eventually. They are likely correct this time. But there is reason to believe that digital currency is beginning to reach mainstream acceptance.
Regulatory uncertainty is arguably the biggest obstacle to the mass adoption of digital currencies. While tales of “Bitcoin bans” have gradually faded over the years, and governments are looking more favorably upon digital currency, it still has a long way to go. The biggest regulatory obstacles are tax policy, anti-money laundering (AML) laws, and securities regulators.
Recently the U.S. Securities and Exchange Commission (SEC) issued a report condemning many ICOs as violating securities laws. This has resulted in Bitfinex ceasing all trade of ERC20 (ICO) tokens and suspending service to U.S. users.
Full story at http://bit.ly/2uNBkyX
Source: CoinTelegraph
After calling latest surge above $4,000, Standpoint's Ronnie Moas raises bitcoin forecast to $7,500
Longtime stock researcher Ronnie Moas raised his price target on bitcoin by $2,500 on Monday after the digital currency hit all-time highs over the weekend.
"What's happening is the floodgates are opening," Moas, founder of Standpoint Research, said in a phone interview with CNBC on Monday. "I believe there are hedge funds and very deep-pocketed individuals going into this now, really hundreds of millions of dollars."
Moas first laid out his views on bitcoin's potential in early July and issued a formal report at the end of last month with a price target of $5,000 for next year.
He told clients Monday he now expects bitcoin to climb nearly 80 percent from the weekend's records to $7,500, and maintained the digital currency could surge to $50,000 in 2027 — representing a 28 percent annual compounded growth rate.
Full story at http://cnb.cx/2uNX3H3
Source: CNBC
Afghan Entrepreneur Empowers Women Through Bitcoin
Afghan entrepreneur, Roya Mahboob, announced her intention to organize a conference for bitcoin in Afghanistan to showcase projects developed by female Afghan entrepreneurs. The CEO and co-founder of Digital Citizen Fund has worked tirelessly for women’s financial empowerment in Afghanistan, being deemed one of the 100 most influential people in the world by Time magazine in 2013.
Roya Mahboob is the CEO and co-founder of Digital Citizen Fund, a nonprofit that has enrolled 9,000 Afghan women and girls in education programs and that plans to organize a conference for bitcoin in Afghanistan. Speaking recently with International Business Times, Mahboob states that the Digital Citizen Fund has “helped 100 women start their own businesses. The next step is we are going to have a bitcoin conference in Afghanistan so we can showcase their projects.”
Mahboob foresees blockchain technology having profound applications in Afghanistan outside of comprising a vehicle for financial autonomy. Blockchain-based smart contracts provide an excellent solution to problems of contracts being denied or destroyed, an underhanded business practice that Mahboob claims is regularly used against women due to the unlikelihood the victim receiving assistance from authorities. “No one can destroy the records and say we don’t have a contract. That is all important for women with financial independence in developing countries,” Mahboob said. Mahboob also hopes to “develop a blockchain-powered marketplace for women, using smart contracts for insurance and loans,” International Business Times reports.
Full story at http://bit.ly/2uO256f
Source: Bitcoin News
Prepared by @SydesJokes
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I could see it happening after segwit locked in for litecoin it took off however that was about the same time everything else was taking off as well.
Nice information...
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