Bitcoin surges past $10,000?

Will it won't it that is the question?

At the moment it is sitting at around $9,532 and getting closer to that 10k mark. I think it will smash it but hey I am all for bitcoin so I will say that of course but shit I am not wrong it has blown past the 10k mark ( wooohoooo party time) lights candle on bitcoin cake let the good times roll. From here on in the rise will be just massive it will require such a small amount of movement to get us up to 15k. I read something somewhere giving a breakdown of how this will work but for some reason I cant find it (must get more organised).

Why will it move faster you may ask? Well I have to idea ha ha but one reason I think it will is it is getting more coverage in all types of media outlets and you will notice this more and in doing so more people will get involved in buying it and in turn will push the price up faster. Here comes the moon I say or maybe miss the moon and hit mars with the growth. Just make sure you  get on it as fast as you can cause we wont be coming back to get you.

As I always say get on the train and don't miss the boat, just realized train and boat shit lets just get the shuttle skip the train and the boat. Lift of is starting soon!!!!!!!!!!!!!!!

Is crypto dead again?

We are at that time again where everyone is saying that's it bitcoin and alt coins are all dead there is no money in it the bubble has burst and so on. Well STOP thinking that crap its not dead or nearly dead its just resting, when something makes massive gains in such a short period of time it is vital to stop and refuel. This is the refueling stage so take my word and always get a bit more if you can afford it (I have anyway)

In my short time in this environment I have noticed it over the last number of months that something like this always happens and always takes a jump back up. I wont be surprised if in another week or so that it will jump again to all time new highs.

This is just a short blog as I think people need some information and not be panicking about it. As I say just stock up what you can afford and keep building on it, it will be worth your while down the line when you have a healthy returns on your investment or a few extra pound for something nice you need in the future.

Key part to take form this post is ;

1. Get more if you can
2. KEEP CALM
3. Repeat 1 and 2

Its as easy as that

Thanks for reading and good luck   

Bitcoin accepted in Amazon??

With the growth of bitcoin over the last 3-4 years we have to wonder is their a chance that it will become more main stream soon. Will it be accepted in big stores such as Amazon, for me I think that this would be of great use and also show the world even more that bitcoin is here to stay. Imagine not having to pay those stupid credit card fees when buying something and maybe give you even more money to spend on the things that you want.  News has been spreading around lately online of course that Amazon is in the process of accepting these payment but how true these are are yet to be known.

Imagine black Friday sales and paying with bitcoin Swooshhhh. 

But the big question who will it help?

If bitcoin gets accepted by Amazon I believe that this will be great for public adoption of bitcoin by making it more mainstream. However, I do not see the same benefit for Amazon because bitcoin is still not mainstream enough. They will not be many people that are in a position to use bitcoin for purchases so for that reason it may not be of great advantage to Amazon.

As stated in crypto coin news.

Amazon has long been considered the “white whale” of bitcoin acceptance. As one of the world’s foremost retailers, their decision to accept bitcoin would provide bitcoin with a tremendous credibility boost and would likely increase the rate of mainstream cryptocurrency adoption.

However, Amazon has made no public statements suggesting they will implement bitcoin payments, and frankly there is currently little incentive for them to do so. The company is so ubiquitous that is unlikely they would see a noticeable increase in sales. Amazon’s valuation is nearly four times the size of the combined market caps of all cryptocurrencies, and despite the bitcoin price’s year-to-date surge, its market cap is still more than $15 billion less than the net worth of Amazon founder Jeff Bezos.

Those who are long on bitcoin expect that retail giants such as Amazon will eventually join forward-thinking companies such as Overstock in accepting cryptocurrency payments, but investors should remain skeptical of unverified reports that this will occur in the near future–especially when the person making the claim is trying to sell you something.

MasterCard Looking at Bitcoin

New patent filings from Mastercard show how the credit card giant is looking at blockchain as a possible means for easing payment settlement times.

In a patent application released last week by the U.S. Patent and Trademark Office, the company describes a blockchain-based database capable of instantaneously processing payments, guaranteeing that merchants don't need to wait days before receiving funds for their products.Source

Further, the filings indicate that the tech would help the firm keep an ongoing record of these transactions, verifying that a vendor was actually paid after a particular sale.

The data being stored would include the transaction amount, a guarantee of payment, confirmation of the payment and account profiles for the parties involved. These account profiles will also store each users's balance information, according to the application.

This is a snippet of their approach;

“There is a need for a technical solution where a payment transaction can be guaranteed in a manner that is readily verifiable by an acquiring financial institution and/or merchant, and where the guarantee can be used in conjunction with multiple types of payment instruments as well as multiple transaction types, including e-commerce transactions.”

A lot of the above information was collected here as it is very hard to get reliable information from anywhere else.

Can you still mine Bitcoin in China?

As the rise of Bitcoin progresses I was wondering when I listen to all the talk online about banning bitcoin in china it got me thinking can you still mine it over there or is that to illegal to do. Below is an article that I found on cryptonews and I will leave a full the full website at the bottom of the post, I just think I could not explain it any better than it is explained here.

Throughout this week, false reports regarding the legality of bitcoin and cryptocurrency mining have emerged. Local sources have revealed that bitcoin mining is not banned as of yet.

Unconfirmed Reports and Rumors

Initially, Sichuan Electric Power Company, released an unconfirmed circular which claimed that the use of electricity to produce and mine bitcoin is illegal. Caijing, an independent news publication based in Beijing, first reported on the circular released by Sichuan Electric Power Company, and more media outlets followed.

CnLedger, a trusted news source of the Chinese cryptocurrency market, quickly debunked the report, after Sichuan Electric Power Company admitted that it had made several mistakes and included unverified claims on its circular.

“The head of that company has clarified that they made mistakes on the statement, as they are not a government administrative department, and have no rights to determine whether bitcoin mining is illegal,” wrote CnLedger.

According to the county electric power company in Sichuan, the firm did release a notice which explicitly described bitcoin mining as an illicit operation. But, an executive of the company stated that the circular was released in a hurry and that the company is not in a position to ban or restrict bitcoin mining.

“However, head of the company clarified to Caixin today that the notice was made in a hurry; it is not their role to determine whether bitcoin mining is against the law. Actually the company is not yet connected to national grid, and relies on local stations to get electricity,” added CnLedger.

Government and State-Owned News Publication Clarify

More importantly, state-owned business and finance news publication Caixin, revealed that the government has no intent of banning bitcoin mining or any activity surrounding cryptocurrency mining in the region as of yet.

Caixin’s report was particularly important and notable to the controversy surrounding a potential bitcoin mining ban in China as it has operated as the official press of the Chinese government. CnLedger explained that Caixin has communicated with the government, which announced that bitcoin is not illegal as of current. CnLedger revealed:

“Caixin also mentioned that technically these 6 stations are not qualified grid power supplier. So they are not allowed to the grid anyway. The electricity they produced is considered “wasted” power. Previously Caixin has also contacted those who are close to the regulators, and was told that currently there is no plan to forbid bitcoin mining.”

Conclusively, a premature and unverified circular of a country grid operator led to a series of false reports around the legality of bitcoin mining. So far, the government and state-owned press have evidently demonstrated that the country has no intentions to ban bitcoin mining.

In the upcoming months, several analysts predict the Chinese government to provide necessary regulatory frameworks around cryptocurrency trading and bitcoin mining. Businesses have not ruled out the possibility of cryptocurrency trading resumption, given that the Chinese government has emphasized the need for strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies for cryptocurrency exchanges.

Source

European Banks

Long active in evaluating blockchain technology broadly, a European Central Bank (ECB) official took steps this week to stress the institution is closely watching cryptocurrency.

In an interview published on Oct. 29, Benoît Cœuré, one of the central bank's executive board members, elaborated briefly on the bank’s views on the subject, telling Le Journal du Dimanche it is following their development and spread.

The ECB is not "ignoring" the spread of cryptocurrencies, he said. Yet, at present, he does not consider them a risk to the bank or the euro.

Cœuré told the organization:

"At the moment cryptocurrencies don't pose any monetary risk because the amounts involved are marginal. They are speculative financial instruments which create risks of a financial or even criminal nature."

Some nations are moving away from physical bills and coins to their own cryptocurrencies, so central banks, in general, are monitoring them closely, he continued.

In September, the ECB's president, Mario Draghi, said nations in the eurozone could not use their own cryptocurrencies, but instead every member state had to use the euro.

Draghi later said the ECB could not regulate cryptocurrencies.

The above article was taken from here and I believe is very relevant to this blog

Bitcoin how High can it go

As I am sitting here writing this I keep thinking the same thing how high can bitcoin go? Could it ever get to $3000, $4000, $5000, $6000, $7000. Well by god it can all these figures have been reached in the last 6 months the time it has been since I decided to try and write something about the highs of bitcoin. The goal posts just keep on moving with bitcoin which is amazing as of today's date bitcoin is currently valued at $7389. I wonder how silly that number may look when someone reads this blog in maybe 5 years time. So what do you folks think it may rise to? I believe that it will go up to almost £50000 in the next 5 years which would be outstanding for anyone that has any amount of bitcoin.

What's your reasoning behind that number you may ask did you just pull it out of thin air or is there somewhere you got it. Well to be honest I just pulled it out of thin air :) but from everything I have read over the last year I firmly believe that it will reach those highs. When you have major bitcoin enthusiasts saying bitcoin will go up to over $100,000 in 10 years time its hard not to listen to them.

Hell they were the ones that said it would break all them numbers that I have at the top of the post so why not listen to them when they say where it is going. I think hell if it gets half way of their target there will be quite a few happy people out there me included. All you have to do is just check out YouTube and see for yourself what the gurus are saying about bitcoin and you will start to piece the bits together yourself and believe me my target is definitely reachable in the near future.