I believe we will see an epic rise, yet again, in Bitcoin’s price very soon.
When I was a younger lad, I would always join my Dad at the local car auction whether it was to help pick out the new family mobile or my first few cars. Growing up in a smaller city, the auto industry was a large part of our local economy and every year I watched the average prices of cars go up and down depending on the season. Continue reading
If you aren’t familiar with Max Keiser, well you must not get out much. Known as one of the biggest bitcoin proponents, Max retweeted BitcoinNe.ws today:
Thanks for the support @maxkeiser!
Check out his video that we mention in this tweet: https://www.youtube.com/watch?v=FIqShRg91so
An article over on Bitcoin Magazine has come out comparing Overstock’s recent adoption with what it would be like if Walmart started accepting and paying its employees and suppliers in bitcoin.
According to the Census Bureau, there are slightly more than 27,000,000 firms active in the United States, the vast majority of which are the sort of small, independent shops that might be inclined to become early adopters of Bitcoin. However, Walmart alone accounts for more than 2% of annual GDP in the United States. Continue reading
Confirmed by Overstock.com’s tweet, they now accept the digital currency – Bitcoin!
Founded in 1997, Overstock.com has grown tremendously over the years by selling of a verety of store’s over stocked items online. They boast revenues of over a billion dollars annually.
This is a huge shift in support for the Bitcoin protocol and with this type of news it only means good things for the value of bitcoin in the long run. With its frictionless transfer and inability to counterfeit, many other retailers have got their eye on bitcoin as well. Continue reading
Today, a Wall Street Journal investing lesson chat session was prompted by BitcoinNe.ws to comment about bitcoin as a 2013 investment in its closing remarks. After first deleting the question from the que and not responding, we asked a few more times about bitcoin in the chat room full of crickets.
Charles Rotblut started off saying bitcoin will be “worthless” eventually and continued to spout off false associations with the gold rush, adoption rates and decentralization. He finished up with, “Bitcoin is interesting, but extremely speculative.”
We’ve heard about large companies, like Overstock.com and Netflix, testing bitcoin integration, but now one of the largest internet based companies in the world – Facebook?
Global companies like Facebook are a perfect match for digital currencies. They go through expensive red tape all the time trying to convert fiat currencies from on to another. Bitcoin will allow them to accept instant payments from any country, at any time, for any value. This news alone will be boosting price to new levels, let alone when its integrated and live.
Recently, authorities in India, China, Korea, Denmark, France, and Norway have issued stern warnings regarding the use and trade of bitcoin and other digital currencies.
As a consequence, important exchange outlets for price discovery have been slowed or shuttered following the government advisories. Furthermore, India and China represent nearly half of the globe’s total population.
The world has mostly underestimated the latent demand for a free and nonpolitical currency unit. In the face of this percolating demand, the arrogance of our monetary overlords is startling.
Rest of the article here.
This is a common objection I hear when people are trying to find reasons not to jump into bitcoin, or claim bitcoin can’t succeed.
Besides the statement that “bitcoin is not backed by anything” being untrue, lets not even go there for a second.
Why does it need to be backed by something like a government or commodity?
Only a currency that holds no value in of itself needs to be backed by something of value.
Does gold or silver have a backer? No, and they have been the longest standing form of money in history. Gold is not created by government decree nor can it be created out of thin air. Gold has value because it is a finite resource that has all the qualities of being “money”.
The same goes for Bitcoin. You can see in this video that bitcoin can even outperform gold in todays digital age. Continue reading
I recently noticed Mr. Drogens site has been down due to all the traffic its getting. So, I wanted to repost his article so no one misses out on reading, what I think to be, a really great piece on Bitcoin.
Why I Bought One Bitcoin
Posted by Leigh Drogen on November 16th, 2013
A few months ago, after the first so called “crash” of Bitcoin, I bought one. I bought one Bitcoin primarily because I wanted to have a hands on understanding of how the thing worked. People are inherently afraid of what they don’t understand, and when you mix money with math and technology, three things very few people understand individually let alone all together, it’s bound to scare the crap out of just about everyone. Continue reading
The ubiquitous soda of the 1980’s and 1990’s is giving it another shot and asks for fan support, even from the Bitcoin community.
(Richmond Hill, ON) Dec. 20, 2013, – Clearly Canadian, in keeping with the ever evolving digital age, is opening up its coming online pre-sales campaign to the global bitcoin community. “Online virtual currencies are clearly here to stay – no pun intended”, according to Mitch Callahan, Clearly Canadian’s Bitcoin Campaign Manager. “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” Continue reading
As reported on CoinDesk, Singapore has taken a hands off approach when considering regulations on the Digital Currency, Bitcoin. This adds them to the short list of open and unregulated countries supporting bitcoin like Japan and Germany.
At a time when many central banks and regulators are issuing bitcoin warnings and taking steps to limit bitcoin-related trades, Singapore’s central bank has decided to steer clear of bitcoin, for now at least.
The Monetary Authority of Singapore(MAS) told Singapore-based trading platform Coin Republic that it will not interfere with bitcoin adoption. The authority said: “Whether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene.”
Full Article Here.
Adding to the long list of everyday things you can use bitcoin for, Greeley Convenience Store in CO gets the award for 1st gas station accepting the worlds most popular all digital currency.
Greeley, CO – The Cosmic Market located at 2730 23rd Avenue, Greeley, Colorado today becomes the first Gas Station/Convenience Store to start accepting BITCOINS as payment. Using Coinbase for a bitcoin wallet and through the use of Coinbase API, the owner was able to create a simple to use bitcoin acceptance terminal that is simple to use for cashiers.
An ACE Hardware store in MI just announced they will be accepting Bitcoin, making a helpful place, that much more helpful. My family has long been shoppers of ACE Hardwares around the country, and honestly it’s rather surprising to see such a traditional store add Bitcoin to their list of payment methods.
Show them some love and spend a little BTC at Tony’s Ace Hardware!
Tony’s Ace Hardware is a hardware store that has been in Hazel Park, Michigan since the 1930s. Shop Tony’s Ace Hardware for cleaning supplies, plumbing materials, paint, and more. Tony’s Ace Hardware proudly serves the Hazel Park, MI community with superb customer service and high quality hardware store products. We accept bitcoin.
Yesterday it was the US Treasury’s Financial Crimes Enforcement Network that tightened its grip on businesses that accept Bitcoin. Today, it is China, where the world’s largest Bitcoin exchange by trading volume, BTCChina announced that he had received word from “above” that his platform would no longer be able to accept renminbi from BTC buyers. “As of right now, we have received notice from our third-party payment company that they will disallow customers from making deposits into our exchange,” Bobby Lee, a former Yahoo developer who co-founded BTCChina this year, told the Financial Times. The result, not surprisingly, is an overnight crash in BTC, which crashed by 50% from $900 two days ago to just $455 hours ago.
Rest of the story here.
The website snapCard has created a way to spend bitcoin on virtually any website. Some are still wondering why this company, located in San Francisco, CA, hasn’t gotten more publicity.
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
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.
Full story 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.