Massive Super Duper Double Looper Bitcoin News!

in crypto •  2 months ago

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Big News for bitcoin today and I want you to know about it right now!

ICE owner of NYSE Will List Physically-settled Bitcoin futures

A new platform called Bakkt has been in the works with some major players such as Microsoft, Starbucks and BCG. Bakkt goal will be to integrate with ICE future market and is set to launch in November of this year currently pending regulatory approval (but of course).

The main goal is to get bitcoin into mainstream and I greatly believe this is their goal since the companies backing them up have thought about releasing their own crypto. This would mean they would heavily push for bitcoin to become a standard and used brand for everything and then build on top of this with their own released crypto.


With this it is still in speculation mode however if is passed come November that $20,000 per coin we saw last year is going to look like a drop in the bucket.

Is it time to stock up?

I believe so!


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The Starbucks integration will be awesome as I am sure they will focus on the customer experience which will improve the interface which will get adoption going for sure.

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I have NEVER had a bad experience while patronizing Starbucks once per week. Starbucks even gave me coffee, a sandwich for FREE because their checkout computer wasn't working properly!! I do LOVE Starbucks! That sandwich was a Chicken Caprese !!

Once Wall Street gets the flywheel whirring, Bitcoin would gain the liquidity to become a bona fide currency. Sprecher and Loeffler predict that multinationals would then adopt Bitcoin for international payments. “The banks control international payments, and the system is very expensive,” notes Sprecher.

When an U.S. auto parts manufacturer buys components from Japan, for example, it can pay stiff fees to convert dollars to yen. The purchase, at a minimum, involves a broker-dealer that makes the trade, and the purchaser’s and the seller’s banks. It might take two days before the seller can collect the yen, costing the U.S. producer interest while the funds are in transit. By contrast, if both parties use Bitcoin the payments could bypass the brokers and banks, flowing via the ICE exchange from the buyer’s to the seller’s vault held at Bakkt, and reaping big savings.

”Bitcoin would greatly simplify the movement of global money,” says Sprecher. “It has the potential to become the first worldwide currency.”

http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/

Two words:

fuck yes!

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And imagine if a faster and cheaper blockchain/currency was used instead. Bitcoin sucks for actual transactions.

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Ahem...…. Lightning Network..... Scalable, Instant Bitcoin/Blockchain Transactions. Bitcoin developers are doing what they can. https://lightning.network/ I hope you guys can be a bit more positive in the future. :D

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Yeah, yeah...we’ve heard about Lightning for how long now? And what are the odds of this happening any time soon?

Also - will Lightning make those transactions fee-less? If not, Bitcoin is still at a disadvantage when it comes to transacting.

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That was an old post of mine. Sorry this response took so long. The Lightning network has already been implemented on the bitcoin network but many users don't know it...

From Wikipedia:
https://en.wikipedia.org/wiki/Lightning_Network

From April 2018 to August 2018, the Bitcoin Lightning Network had a monthly growth rate of about 15%. The number of nodes increased from 1,500 to 3,000, and the number of channels increased from 4,000 to 11,000.[5]

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Lightning Network
The Lightning Network is a "second layer" payment protocol that operates on top of a blockchain (most commonly Bitcoin). It theoretically enables fast transactions between participating nodes and has been touted as a solution to the bitcoin scalability problem. It features a peer-to-peer system for making micropayments of digital cryptocurrency through a network of bidirectional payment channels without delegating custody of funds.
Normal use of the Lightning Network consists of opening a payment channel by committing a funding transaction to the relevant blockchain, followed by making any number of Lightning transactions that update the tentative distribution of the channel's funds without broadcasting to the blockchain, optionally followed by closing the payment channel by broadcasting the final version of the transaction to distribute the channel's funds.

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O.K. :D Thank you @wikitextbot !!

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I'm with ya.

Bitcoin may just be the trojan horse to make a cheaper, faster digital payment solution like Steem a major player in global trades, or payments in general.

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I'm aware of the lightning network. I'm also aware that free transactions (Steem) beats transactions with a fee (lightning network), albeit much cheaper than bitcoin's current transaction fees.

I, unlike some people (bitcoin maximalists), believe that there's room for many cryptos to serve a purpose well into the future. I can forsee Steem and Bitcoin and Etherium and many other current "altcoins" co-existing, offering us many different options for payment, each having their own specific strengths.

every crypto holder want BTC boom. but when????

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Patience padawan.

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i think this is the right year!!

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If you call a price of $2,500 last year to where we are today at $7,500 not a boom then you crypto people be crazyyyyy lol

Sweet news! Upvoted and good luck Sean

YES! :D
I read about Intercontinental Exchanges and their plans a couple of hours ago on a timeinc/Fortune article.

The timeinc/Fortune article talked about a panopoly of new funds:
an excerpt:

If the Bakkt blueprint works as planned, a panoply of new Bitcoin funds would tap the pent-up demand for the cryptocurrency, making it a safe and easy choice for everyday investors—notably millennials getting their first 401(k)s. Wall Street could then tap Bitcoin’s popularity as an alternative to stocks and bonds to generate giant trading volumes. And that flood of institutional buying and selling, in turn, would take the terror out of Bitcoin by smoothing its wild swings in price.

ICE has more partners than you mentioned, but it's all very cool from our perspective. A federally regulated market should allow some investors to feel more comfortable about getting in to.

“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant, and consumer participation in digital assets by promoting greater efficiency, security, and utility,” said Kelly Loeffler, ICE’s head of digital assets....from the timeinc/Fortune article.

With Bakkt, there is also a strong possibility of using your smartphone instead of Visa or Mastercard, but for Bitcoin.

I hope that you have the tongue of Angel about this @bitcoinflood because i really needed funds for my surgery plans.

The only thing I'm afraid of is a dump soon after a massive pump, because if bitcoin isn't ready to hold a large price that we could end up seeing then we could end up in another downward spiral.

Negativity aside though, it sounds real interesting. I am defiantly going to find out more about this.

I believe so as well. I think this is underrated news.