Dear Steemians!
Here is the daily press review for bitcoin and other crypto currencies.
Take renewable energy over bitcoin if you want to make a risky bet on the future
If the price per barrel of oil rose, so did alternative energy stocks, because higher fossil-fuel prices would make renewable sources of energy more competitively priced. It used to be that renewable-energy stocks were heavily correlated with carbon-based energy stocks. But there's another rising trend that's literally right under your nose: renewable energy. The hyper focus on bitcoin is causing investors to miss another huge winner this year that they can actually understand. The iShares Global Clean Energy ETF (ICLN) is up year-to-date by as much as the Energy Select Sector SPDR Fund (XLE) is down, and it's a huge divergence by any stretch. (cnbc.com)
Bitcoin soars to new high above $8,200
Bitcoin, the red-hot cryptocurrency, continued its upward tear on Monday, hitting an all-time high above $8,200 per coin. Get the latest Bitcoin price here.>> Elsewhere, two Chicago-based exchanges are looking to launch bitcoin futures, a product that would allow investors to bet on the future price of the coin. Peterffy said bitcoin's unbridled volatility could have a dangerous impact on other futures products trading on the market. The price of bitcoin has been pushed higher as more traditional financial services players look to dive into the nascent market for digital coins. (businessinsider.com)
Bitcoin Now Processes $2 Billion Worth Of Transactions Per Day, A 10x Increase In 2017
For most of January, roughly $200 million worth of bitcoin was being sent around the Bitcoin network per day. In fact, the peak for the highest rolling seven-day average of Bitcoin transactions for this year (so far) was in May. November 16th set a new all-time high for value transacted over the Bitcoin network in a single day at $2,803,405,660. Roughly a billion dollars of value was sent around the Bitcoin network per day in early August. The Number of Transactions Per Day Has Been StagnantWhile this explosion in value transferred per day has taken place, the actual number of transactions on the Bitcoin network per day has been rather steady. (forbes.com)
Bitcoin is Apocalypse Proof, Say Doomsday Preppers
In that sense, Bitcoin isn’t gold,” said Charlie Morris, the London-based chief investment officer at Newscape Capital Advisors Ltd. People disregard Preppers because they are planning for something that has a low chance of happening but they are planning. But, does that mean that should World War Three strike or an apocalyptic event strike, Bitcoin will survive? By its nature, Bitcoin is immune to the coming and going of the rest of the world that is unrelated to it. While many think that Doomsday Preppers are a bit looney and that their measures are unnecessary, what they do have on their side is planning and knowledge. (cointelegraph.com)
62% of Institutional Investors are Buying or Considering Buying Bitcoin
A newly released survey sheds light on what investors think of bitcoin and it makes for interesting reading. Between 6 and 13 November, they spoke to 317 institutional traders in a survey that reveals conflicting views on bitcoin. One group that have yet to speak their piece en masse is institutional traders – until now. Last week, Coinbase announced that they were launching cryptocurrency asset management for institutional investors. Another 36% professed to be considering buying bitcoin, 31% ruled it out altogether and, not surprisingly, just 1.5% of respondents confessed to being unfamiliar with bitcoin. (bitcoin.com)
Tech Influencer Oliver Isaacs On The Top Five Resources For The Beginner Bitcoin Investor
The worlds of influencer marketing and cryptocurrency are, in fact, rapidly converging. Today, the NEO coin costs about twice that at $30 per coin while an Ethereum is even pricier, topping off at around $300. To make sense of this convergence and to offer more insight for those who desire to get their feet wet in the Bitcoin investment domain, I spoke to leading tech entrepreneur and cryptocurrency influencer Oliver Isaacs. For instance, Mattr, a top influencer marketing startup, is now utilizing blockchain technology for its marketing contracts and agreements, while indaHash, an influencer marketing app which connects over 300,000 influencers from 70 markets with global brands, has introduced their own indaHash Coin. Digitization continues to revolutionize the way consumers and producers interact, and many influencer marketing startups are now jumping at the opportunity to raise funding via initial coin offerings (ICOs). (forbes.com)
Bitcoin: The Thing?
On Monday, November 13th, Bitcoin Gold was $250, compared to $1,400 for Bitcoin Cash and $6,300 for normal Bitcoin. Along the lines of THE THING viz. assimilation, imitation, acceptance, and potential apocalypse, what factors have contributed to current Bitcoin and cryptocurrency speculative valuations? Will "lesser" cryptocurrencies become the daily cash, while Bitcoin becomes the "THING" which assimilates "store of value" underpinning the system? Bitcoin Cash created through a hard fork on August 1, 2017, and Bitcoin Gold. In an orderly fashion, we now present SIX ways to SUNDAY that we think, BITCOIN is THE THING: Margin Lending; Halving; Forking; 98% Trading Volume Decline; FX Denomination; and Anchoring. (seekingalpha.com)
Bitcoin: What does Warren Buffett really think about cryptocurrency?
Of it, he said, "You can't value bitcoin, because it's not a value-producing asset." More: Warren Buffett's Berkshire sells nearly a third of IBM shares, adds to AppleMore: Are there any bitcoin stocks worth buying? The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. We should keep firmly in mind that Buffett, a disciple of legendary value investor Benjamin Graham, is a financier of the old school. Elaborating on his remarks, Buffett said bitcoin is "a very effective way of transmitting money, and you can do it anonymously and all that." (wbir.com)
Bitcoin.com Wallet Hits 500,000 Users
With the new Bitcoin.com wallet, users can purchase bitcoins, send and receive the decentralized currency, and store their digital asset with confidence. Bitcoin.com announced today that the Bitcoin.com Wallet has been used to create more than half a million Bitcoin wallets. The Bitcoin.com wallet is available for Mac, Windows, Linux, and Android and iOS mobile applications. Launched just three months ago as a software fork of BitPay's Copay wallet, the Bitcoin.com Wallet has quickly become one of the most popular cross-platform software wallets for users of Bitcoin Legacy (BTC) and Bitcoin Cash (BCH). This achievement comes as Bitcoin.com prepares to roll out a major update to the wallet. (prnewswire.com)
Bitcoin's Price Crosses $8K for the First Time
JPMorgan Chase Chief Executive Jamie Dimon famously called bitcoin a “fraud,” vowing to fire any staffer that trades in it. Last weekend, the price fell to roughly $5,500 after an upgrade to the network called SegWit2X, which would have caused a hard fork, was canceled. It also requires cryptocurrency exchanges to be licensed and face annual audits, giving the currency official approval. After enduring a sell-off last week, the digital currency has come raging back, surpassing the $8,000 mark for the first time on November 19. The market is equally divided with some betting bitcoin will surge while others claiming it's a scam. (investopedia.com)
Bitcoin Price Surge Leads to Electricity Consumption Spike: Blog Questions Environmental Impact
The de Vries model assumes miner incentives at certain price levels and offers a prediction for future mining electricity consumption. Bitcoin’s price surge has swelled the power consumption of computers mining the digital currency, according to a blog by Christopher Malmo, writing in Motherboard, that questions the environmental impact of bitcoin mining. The amount of electricity consumed in bitcoin mining is comparable to the amount used in Nigeria, a nation of 186 residents, in one year. Malmo asks if bitcoin transactions must bypass trusted third parties such as credit card companies and banks which operate more efficiently than bitcoin’s decentralized network. Each bitcoin transaction consumes enough power to operate a home and everything in it for one week. (cryptocoinsnews.com)
Rally Fatigue? Low Bitcoin Volumes Could Cap Upside
Bitcoin prices are at their highest ever, but there may be a chink in the cryptocurrency's armor. They are a bullish continuation pattern: i.e. an upside break signals resumption of the rally. The technical charts favor further upside in prices, but signal the potential for a pullback to $7,300 levels if prices break below $7,900 today. With bid tone remaining intact over the weekend, bitcoin rose to an all-time high of $8,101.91 around 20:00 UTC yesterday, as per CoinDesk's Bitcoin Price Index. On the chart above, an upside break/bull flag breakout has been confirmed, meaning the doors are open for a rally to $10,393 (target as per the measured height method: i.e. pole height added to breakout point). (coindesk.com)
Bitcoin Tops $8,000 As Lightning Triumphs And Cash Flounders
The latest milestone for Bitcoin, which came following news the first Bitcoin-to-Litecoin Lightning Network ‘atomic swap’ successfully debuted, caps its comeback after Bitcoin Cash volatility. Bitcoin price continues to delight investors Monday as the most popular virtual currency breaks and stays above $8,000. Staunch proponents of the Bitcoin fork as the ‘real Bitcoin’ are currently locked in a forking battle of their own as two strands of BCH emerged last week. BTC currently has a market cap of almost $134 bln against a cross-crypto combined cap of just under $240 bln, both numbers representing new records. Bitcoin’s dominance has also recovered over the past few days to top 56 percent of the market after struggling to maintain supremacy as BCH caused considerable fluctuations. (cointelegraph.com)
Bitcoin passed $8,000 and it could reach $10,000 by 2019
One indicator is the increasing popularity of bitcoin futures. LedgerX has conducted $16 million in bitcoin futures trades since it opened for business on Oct. 20, according to CoinDesk. The exchange plans to let customers trade bitcoin futures for real before the year is up. The Chicago Mercantile Exchange (CME) will begin letting customers test bitcoin futures today. The price has been flirting with $8,000 for days, probably because several signs point to the long promised arrival of institutional money in the cryptocurrency markets. (qz.com)
Unlike Gold, Bitcoin Has No Obvious Basic Intrinsic Value
What you have here is the New York Stock Exchange Bitcoin Index, which for all intents and purposes represents the value of one Bitcoin. Gold has been used as a medium of exchange by the human race for 5,000 years, so there is a basic intrinsic value present in gold that is not obvious for Bitcoin. You can see where this index went out on Friday. Keep in mind, the last sale is considerably higher in Australia as we prepare for Monday morning trade. Relative Strength went out in an overbought state, and that condition will likely be much more severely extended very shortly. (thestreet.com)
For Bitcoin, the Road to Increased Regulation Is Being Paved: Market Recon
For Bitcoin, the Road to Increased Regulation Is Being Paved: Market Recon"Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. What you have here is the New York Stock Exchange Bitcoin Index, which for all intents and purposes represents the value of one Bitcoin. Bitcoin has increased in value by some 26% just this month, and soared past $8,000 per token in early Monday trading. But how would any business, especially a small, local business, value something this volatile when trying to price ordinary goods and services for ordinary clients? Bitcoin. (thestreet.com)
Banks Shun Bitcoin In Hong Kong, Businesses Seek Foreign Help
Hong Kong’s Bitcoin business sector is feeling uncertain as local exchange Gatecoin loses its banking services. Just a month after reports of a mass ‘Bitcoin exodus’ from China after it banned crypto-to-fiat trading and ICOs, Hong Kong also appears to be creating a more hostile environment. The new resistance in Hong Kong jars noticeably with the local banking sector’s appetite for Blockchain, Cointelegraph reporting last week that twenty had signed up for a trade network with Singapore using the technology. Now, Hong Kong could add fuel to the fire, Gatecoin having had to use foreign banks to continue operating as the domestic situation remained deadlocked.“Banking is a prized commodity in the Bitcoin space,” Bitspark CEO George Harrap continued on the ironic problem of Bitcoin businesses relying on banks to achieve crucial adoption. Bitspark also had to find foreign banking support to continue operations. (cointelegraph.com)
Stanford's Applied Cryptography Group Aims to Bulletproof Bitcoin
Bulletproofs: Efficient Range Proofs for Confidential Transactions is a working publication from Stanford University’s Applied Cryptography Group. Stanford University’s Applied Cryptography Group (ACG) is proposing Bulletproofs, a way to drastically reduce blockchain data, roughly ten-fold. The ACG team argues how using aggregation for transaction proofs and reducing block size will result in two goals long sought in Bitcoin, confidentiality and speed. A common misconception is transacting in bitcoin is somehow anonymous, confidential. Bulletproofs shrink the size of the cryptographic proof from over 10kB to less than 1kB,” they claim. (bitcoin.com)
Bitcoin Is Sticking to Its $8,000 High. Here's What's Keeping It Afloat
Goldman Sachs analysts forecast the $8,000 barrier’s breakage earlier this month, suggesting there may be further surges in store. Some bitcoin-mining nodes still tried running the Segwit2x code, although reports emerged at the weekend suggesting that a bug in the code stopped it from working. A couple of weeks ago, bitcoin hit a $7,888 high before falling as low as $6,800, then climbing back up again. The “Segwit2x” fork, which would have split bitcoin into two factions, was also recently cancelled, at least formally. Back in August, with the price at $3,500, analysts were being bullish by claiming bitcoin might clear $5,000 next year. (fortune.com)
More on these and other related news can be found at http://zentrade.online/bitcoin-news-digest-monday-november-20-2017/
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