Twitter CEO Jack Dorsey buys $10K Bitcoin a week, predicts a ‘massive’ bitcoin boom and maxes out the 10k limit in buying bitcoin square cash app. That has been about a 20% increase in address wallets created for bitcoin. Institutions interest Fidelity coming out with custody this week. Jack as said it only a matter a time not when Bitcoin will take off when they integrate the lighting network more on that below. Mass adoption is coming with the new Samsung S10 integrated the first phones with a hardware wallet to secure Bitcoin and cryptocurrency.
RSK LABS created an open source software allowing smart contracts giving Ethereum a run for its money. This second layer to the bitcoin core will allow any user, company and developer to create any kind of solution. This will allow smart contracts to be built on top of the already secure and decentralized network.
How it works
RSK has a two-way communication peg to Bitcoin so that the smart contracts are executed and paid with Bitcoin.
This will allow the most trusted network in payment processing to be able to move into the most efficient instrument for trustless agreements.
Merg-Mining with Bitcoin
This will allow Bitcoin Miners can profit from the smart contracts as well at the same time securing the RSK network.
The Federation will be providing checkpoints and will back up solutions for institutions users and banks.
As of May 1st, they rolled out the beta testing but looking to go live by the end of the year
ErisX which trades cryptocurrencies and related derivatives is being back by two large trading companies TD Ameritrade and Virtu Financial Inc.
ErisX will be providing regulated futures and spot trading exchange for digital assets as Bitcoin (BTC), Bitcoin cash (BCH), Litecoin (LTC), Ethereum (ETH) will be adding additional assets at a later date.
- Erisx brings stability to the digital currency market at the same time being regulated front to back.
- This will also be a centralized exchange with reliability and trusted infrastructure.
The most import thing they said is that the spot contracts and the futures contracts will be delivered and will settle in the cryptocurrency they are trading.
Their goal is to open to the intermediaries and the retail market and their success will be determined on the volume they handle
Department of Justice just released an indictment of 12 aligned Russian spies paying for computers around the world with crypto this is how law enforcement is using the blockchain to track and arrest criminals. It would be better to use cash at this point for criminals as they flee Bitcoin.
Because the Blockchain is a public ledger anyone can view anyone’s transaction or balance. As long you know the bitcoin address or specific amount and date and all you need to do is look at the blockchain.info and search there wallet try 1HiMoMgBaAikFHgAt3M4YJtetp4HrnsiXu in the search field and you will see all there transaction.
This is one way another way would have your computer connect to the bitcoin network and this is called a node when it’s on the network this will allow you to see every transaction ever created from day 1.
Melissa Lee outstanding CNBC news anchor on Fast Money is not afraid to step out of the studio into a third world country to do some investigative journalism. Melissa travels to Khayelitsha, South Africa the biggest and poorest in South Africa. As Ran Neu-Ner explains that the US have all the financial product we can ask for as sophisticated as we are the US uses the blockchain as a fun technology game, but it is not a necessity, but in Africa you need it because it is impossible to send money they have No infrastructure no ATM how do they get their money is the question.
Just transferring money through a bank takes days or even weeks at an astonishing rate of 10%, so they have to resort to another way to send their money faster and cheaper. They go down to the bus station and give their money to the bus driver and hoping they deliver the money to their family and they don’t get robbed.
Kuda Kwashe the Uber driver said ” I wish there was another option that is safe and cheap to send money”
There is and its coming.
Bitcoin Brakingout coming soon
Tom explains that mining bitcoin and network effect is what is driving the price of bitcoin. If you are not familiar with the network affect Metcalfe’s law I will post another blog below explaining. He has determined that the Merging markets are impacting bitcoin’s price with hedge funds risk off this impacts the price of bitcoin and wealth effect also impacts purchasing power of Bitcoin when other countries are seeing a sharp declined in there markets they have less buying power to buy bitcoin.
We are now seeing more trading in the United States in 2018 for the first time. Bitmix has attracted hedge funds to the market place. This also shouldn’t be to no surprise that all the new analyst they are hiring are just out of college and this is the generation that is very comfortable with crypto and Bitcoin and will be the driving forces to having this implemented. The custody issue should be resolved by November when the NYSE brings online BAKKT.
SEC has rejected 9 ETF and their reason was for fraud and manipulation of the currency. There is another EFT that was submitted in July from Bitwise that would track multiple currently not just Bitcoin with a $200,000 price tag and rule for this ETF will be on Sept 30, but everyone thinks that the SEC will delay it till February 2019 and I think this is when we will hear. The SEC has set a very high standard and may be impossible for them even get it approved.
Sinc April Bitcoin futures have grown 85% and will keep growing in 2019 also when BAKKT backed by the NYSE comes online in November these will help the SEC make a discussion on Bitcoin ETF as well.
The demand for Bitcoin is in the retail markets and the approval of the ETF will fill that void and will increase demand and supply will drop and the price will increase just a matter of time.
First I have to say this Bitcoin the blockchain has never been hacked the exchanges that hold the currency and people that have had their personal wallets have been hacked because they are not securing there bitcoin correctly see my blog on Six Ways To Protect Your Bitcoin Investments From Hackers below thank you.
This is the rise of Bitcoin Detectives and more will come on line including governments that want people to pay their taxes. people think that Bitcoin is anonymous this is false. All transactions are public and the owner of the wallets are unknown untell it is transferred to a wallet with a name attached. The single point of failure is when the Bitcoin is transferred to a person wallet that is public and it then can be traced back just by doing simple integration and computer forensics on that machine that had any communion.
Jeffrey Wernick An Early Investor in Airbnb And Uber Bought Bitcoin In 2009 Explains what people are getting Wrong about Bitcoin. I agree with Jeffrey it is a good store value, but Bitcoin was created because of the financial crisis and to create a new payment system for micros transactions bypassing the banks. AS Jeffrey is discussing we found out that early investments in Bitcoin were seeing rapidly increasing value and people saw better returns then the market and Bitcoin started to turn into a store of value to shelter money from the market and the worst tax of all inflation tax when governments print more money to support there socialist agenda and steal it from your bank accounts from people that save. The inflation tax on the people that save is about 2% a year and governments always gets paid no matter if you invest or save. Even as other governments around the world try to regulate it Bitcoin has outperformed every currency in the world.
BAKKT is a new company formed by a company called ICE that is backed by the largest stock exchange in the world NYSE and Microsoft, Starbucks are betting on Bitcoin. BAKKT will provide a platform to buy, sell, store and even spend cryptocurrencies. This could be the breaking ground that will allow payment system infrastructure for Bitcoin and other cryptocurrencies by November. BAKKT will also provide the conversion of Bitcoin to dollars at Starbucks when getting a coffee and Microsoft is working on the cloud solution to create the global ecosystem for cryptos. This should also pave the way for ETF’s to be implemented as well allowing the average Joe to buy Bitcoin in there 401k