Category: Bitcoin

#BitcoinGold #BTG just Opened on Bittrex ! OMG!

it’s official #BTG also know as Bitcoin gold is on Bittrex the trading is going nuts I got me sum, did you?

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If There Is a Bubble, It’s in Bitcoin

Blockchain has the potential to change how commerce is conducted. But, just like during the dot com bubble, that doesn’t make all or even most of today’s blockchain players smart investments.

The cryptocurrency has gone berserk this year and has all the elements of extreme optimism

Blockchain has the potential to change how commerce is conducted. But, just like during the dot com bubble, that doesn’t make all or even most of today’s blockchain players smart investments. PHOTO: MICHAL FLUDRA/ZUMA PRESS

If the markets are at a top, bitcoin has scaled the highest peak.

Past episodes of market euphoria have often been marked by extreme optimism over new technologies. In the 1920s it was automobiles and radio. In the late 1990s it was the internet. Today the innovations fueling investor dreams include video streaming and electric cars. But none has inspired as much zeal as blockchain, the distributed ledger technology underpinning bitcoin and other digital currencies.

How many U.S. dollars one bitcoin buys THE WALL STREET JOURNAL
Source: CoinDesk
2011’12’13’14’15’16’17010002000300040005000600070008000$9000Oct. 17, 2012x$11.81

As in those previous market bubbles, the underlying technological revolution is real. Blockchain has the potential to change how commerce is conducted by cutting out financial intermediaries. But, just like during the dot com bubble, that doesn’t make all or even most of today’s blockchain players smart investments.

 

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Will The Real Bitcoin Please Stand Up

Too Many Cryptocurrencies?

For the past several months I have been positive on Bitcoin.  I have liked the fact that it rebounded from the China Crackdown that coincided with the Jamie Dimon – Bitcoin is a Fraud comment.

Since then, I have argued that the launch of Bitcoin futures and even more importantly, Bitcoin ETFs, would drive further gains in the price of Bitcoin (and all major cryptocurrencies).

Here we are with Bitcoin closing the week at over $7,700 (according to Bloomberg), which is just below its all-time high.

The market has reacted well to all the news and it is clear that there are new adopters on a daily basis.  Not only will futures and ETFs help attract new interest, but it is clear that many firms have done a good job of making Bitcoin (and other cryptocurrencies) more accessible.

What is starting to concern me is the proliferation of cryptocurrencies.

Within Bitcoin you have the ‘forks’ that are creating potentially new paths (link).

Then you have not only the existing ‘major’ cryptocurrencies like Ethereum (link), but it seems like there are new cryptocurrency launches on a daily basis, ranging from WhopperCoin (link) to stories about Banks attempting to create their own cryptocurrencies.