This is the 1st episode in our Big 5 blackboard series — where we look at five features (likely more in the future) where bitcoin’s inherent features could take over five different trillion dollar markets. The video starts with the misconception many people have with the idea of intrinsic value. It turns out that bitcoin is laden with amazing values, all ‘inherently’ intrinsic.
Let’s Talk Bitcoin! covers their favorite altcoins and their take on altcoins in general.
MorningBit is a video series usually covering 3 important topics in the Bitcoin world every day. Check them out:
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the bitcoin price plunge as Baidu ditches the crypto currency and China bans it for financial firms. Unnoticed at the same time, Germany declares bitcoin to be private money and Merrill Lynch claims it can replace money transfer systems like Western Union. In the second half, Max interviews Dr. Christos Vlachos, CFO of the University of Nicosia, which is now accepting bitcoin as payment and he explains how the volatility in the price won’t matter to the university. They also discuss Dr. Vlachos’ hope to turn Cyprus into a bitcoin hub.
snapCard was founded in 2013 in order to help bring liquidity to the Bitcoin currency. The snapCard team is dedicated to making Bitcoin an everyday and liquid currency.
Benefits of using snapCard
- Works on every website
- Low processing fees – 2% for all transactions
- No merchant-side integration
- Tracked shipping / order processing
- Works in 50+ countries
The last 48 hours have been interesting in Bitcoin news. The Bitcoin Channel takes us in for a closer look into the news from China, the biggest bitcoin heist in history, and the recent dip in the market.
Lamborghini Newport Beach just posted an article about their first bitcoin sale today on their blog.
They sold a Tesla Model S electric car from what their post reads:
Bitcoin, a fully encrypted and fully digital currency, has been used by a recent client of ours to pay for a Tesla Model S Performance we had in our inventory. That’s right, an electronic currency was used to purchased a fully electric vehicle.
More and more large purchases are being used with bitcoin, not only because bitcoin’s transaction fees are almost nothing but their are now so many new bitcoin millionaires able to buy their dream cars.
And, if the market continues the way it has – there are plenty of more millionaires to come.
It looks like a done deal; as soon as next month the city’s police chief will be paid in bitcoins.
Police Chief Tony Vaughn appeared before the commission last month to officially request that his salary be paid to him in Bitcoin, a new virtual currency which exists only on the Internet and this year has gained significant traction, with its value rising by the end of November to more than $1,000 per coin, according to USA Today.
“We done a checkup on it, and that’s the way he wants paid, and that’s the way the city is going to pay him,” Branson said.
Ordering guns online has been around for a long time.. but those accepting bitcoin? not a chance, until now. GunsUnder500, an online gun store selling guns under $500, is now accepting bitcoin as a payment for any of their online purchases.
Can anyone really say you can’t buy anything with bitcoin anymore? Hardly.
This black friday saw over a 6000% increase in merchant transactions. The recent price increase in Bitcoin has really pushed many small and medium size businesses to adopt it as one of their payment methods. I mean why wouldn’t you store your business savings in bitcoin if you can get 10 fold increases or higher.
Pretty soon you may just buy your gun designs with say 0.001 bitcoin and print them out at home, or is that here already too?
Bitcoin has its most explosive commerce day in history last Friday. One of the leading companies, BitPay, has released their traffic statistics and they are astonishing.
The article goes on to say:
During the Bitcoin Black Friday event on November 29, BitPay processed 6,296 bitcoin transactions in a single day, making it the most popular day in the history of bitcoin commerce. On November 29, more than 6% of all transactions on the bitcoin network were spent on goods and services through BitPay’s platform.
Rest of the article here.
The case for bitcoin continues to be made by very smart minds, as well as some minds still being overly skeptical of the technology and currency.
Today a letter was sent by Erik Voorhees to Peter Schiff following up on the earlier debate they had.
It’s a great read, here is a snippet:
[…] While we had some valuable discussion today, I felt a follow-up was appropriate to better articulate my points. You’re right to be highly skeptical of such a new technology and monetary system, but please take the time to ensure your skepticism doesn’t blind you from what I humbly suggest is one of the most important tools for human freedom ever conceived. Continue reading
Mike Hearn discusses “The future of Bitcoin: new applications and rebuilding the banking system” at the London Bitcoin Conference 2012.
Stefan Molyneux, MA, host of Freedomain Radio, brings over 15 years of software and business entrepreneurial experience to the question: What is the true value of Bitcoin?
Over on BitcoinBlackFriday.com and Shopify.com there are tons of ways to spend your bitcoin this holiday season. Small Companies like HaloRig.com Video Camera Stabilizers are also offering deep discounts along with a further 10% off for those that use bitcoin. Merchants are jumping on the ability to accept payments via a faster and cheaper means, not to mention the likely potential for their bitcoin to appreciate before they have to spend it.
Support the local bitcoin community and buy at least one item with bitcoin this holiday season.
This year is the 1st year the bitcoin black friday concept has taken off in the mainstream media. Imagine what next year will look like. Hopefully we will see a litecoin black friday website in time for next holiday season as well.
If you have spent any of your BTC this weekend share it with the rest of us!
Even though they try to put spin on bitcoin’s recent developments by calling it “virtual” and “linked to illegal activity online”, that hasn’t stopped the growing interest in this crypto currency (and others like litecoin) for legitimate uses.
Hundreds of merchants will be joining “Bitcoin Friday” on Nov. 29, selling everything from Christmas trees to clothes, to web domains.
Bitcoin Friday deals include unlocked phones from GSM Nation and discounted plane tickets from Cheapair.com. OKCupid, which has been accepting bitcoins since April, will be participating as well.
Media outlets are jumping into the Bitcoin deals bandwagon too: GOOD Magazine is giving away $5 discounts for subscriptions and the Free Press is slashing shipping costs. Reddit is also offering a deal on “Reddit Gold.”
Gyft is also selling gift cards to Amazon (AMZN, Fortune 500), Target (TGT,Fortune 500) and Marriott (MAR, Fortune 500) hotels. And people can also make charity donations with bitcoins.
“Good companies that really get technology and the potential of Bitcoin are joining,” said Holmes Wilson of Fight for the Future, an organization backing Bitcoin Friday. Wilson noted that the participating companies so far are offering “high quality special gifts.”
Full Article Here: http://money.cnn.com/2013/11/26/technology/bitcoin-black-friday/index.html
Bitcoin investors in China might have passed the most restless two nights of their lives as the virtual currency price rose from a little over 3,000 yuan (US$492.3) to nearly 7,000 yuan (US$1,148.8) and dropped back to 3,500 yuan (US$574.4) from Tuesday to Wednesday on the country’s biggest trading platform.
High investment risks have begun to concern investors, despite the huge returns involved.
Bitcoin, a form of digital e-money stored in a virtual wallet, bypasses banks, allows users to remain anonymous. It came to the eye of the Chinese public in April this year, when movie star Jet Li’s One Foundation received a donation of several hundred bitcoin to help quake-stricken Sichuan.
The currency has been heating up ever since, especially after the state-run China Central Television reported on the evening news Oct. 28 that Canada had set up the first bitcoin ATM machine. Investors went even crazier when the country’s largest bitcoin trading platform, BTC China, received an investment of US$5 million Monday.
The platform’s daily volume of business has exceeded 10,000 bitcoin, which is just over 200 million yuan (US$32.83 million) as of the current exchange rate.
Read the rest of the article here.
Bitcoin, the subversive virtual currency, is now recognised by the Fed. So what now? Digital currencies bypass government and with it, central banks, regulation and oversight. It’s the thing that makes them so attractive. But does this lack of control, and their volatility, mean currencies like Bitcoin can never replace dollars, pounds and yen?
I never want to hear the phrase, “well you can’t buy anything with bitcoin” – again.
With all the recent references that bitcoin is a “rocket” or it will go “to the moon”, this article couldn’t have come at a better time. It reads, “Billionaire entrepreneur Sir Richard Branson announced on CNBC’s “Squawk Box” Friday that his commercial space flight venture will accept bitcoin as payment.”
He goes on to say his company is a bold technological company driving a revolution and bitcoin is doing the same.
Not only that, he already has a customer. BAM. Yeah I said it.
Both namecoin and litecoin have hit new highs in the last 48 hours, sitting ~250% increase. They are starting to get support from those looking for bitcoin alternatives, usually something cheaper.
Namecoin offers something unique to the crypto currency market, a new TLD called ‘.bit’.
Litecoin offers faster transaction times and a higher quantity of coins.
You can purchase bitcoins in 10 minutes or less and convert some into altcoins on popular exchanges like BTC-e, to diversify your crypto wallet.