Event Tuesday: BitPay launches payment method Bitcoin Cache; European discussion on crypto currency; Chief technology Bitcoin.com Bitcoinem disappointed; Half of the Fund’s MVP in Bitcoinie 1; Kryptowaluty alternative is worth more than Bitcoin.
• BitPay launches payment method Bitcoin Cache:
The value of Bitcoin Cash (BCH) rose by more than $ 2,000, apparently in response to reports that BitPay will enter the payment using this currency. Friday’s post, which appeared on the blog of BitPay, the demand for other monetary options to buyers was obvious. Describing the addition of Bitcoin the Cache, the team of BitPay, said:
This year we will begin to add support for payment method Bitcoin Cache, starting with the cards BitPay. All invoices BitPay default will contain the payment option Bitcoin Cache from the beginning of 2018.
It seems that this post caused a strong growth in trading volume, as investors began to buy BCH in the hope that BitPay integration will increase the usefulness and popularity in the market for crypto currency. Probably opuźnieniem investors reacted to news that explains why prices went up just today.
Last week for Bitcoin Cash seemed to be relatively stable and prices have fluctuated between 1.700 and 1.900 dollars.
• The European discussion on crypto currency:
The start of a transaction in futures on Bitcoin, to reach the best attention of major financial institutions in kryptowalutach. While the Chicago Board Options Exchange-CBOE) and Chicago Mercantile Exchange (CMG) were recognized as pioneers in the futures market for Bitcoin around the world there are discussions on the topic of regulation on crypto currency.
Last Friday Reuters reported that the EU countries agreed to introduce more stringent rules for use in crypto currency. Referring to the fight against money laundering, tax evasion, these regulations require greater transparency from operators of the stock market. European Commissioner for Justice, Consumers and gender Equality, Věra Jourová said:
Today’s deal will bring greater transparency, which will allow the prevention of money laundering and prevent the financing of terrorists.
In a recent interview with RT, she was an MI5 intelligence officer, Annie Machon said that the decision of the European Union on the introduction of the rules of the exchanges on crypto currency is taken mainly to protect the interests of large banks. Analyzing the situation, Machon said that this reaction is a reflex to the clash of new and dawych solutions. Further stated:
Any violation of our rights to privacy on the Internet is always the pretext of attempts to stop fishing, money laundering and deterrence of terrorism, pedophilia or anything else. I think that probably the majority of the Bitcoin community uses it in accordance with the law, and the government is just an excuse for the violation of their right to privacy.
Bitcoin and other kryptowaluty have a bad reputation due to their combination of dark markets on the Internet. But as Machon reminds us, the hands of banks is also not clear:
Yes, of course, criminals use them, but criminals use banks. Many banks were caught while trying to combat money laundering on a massive scale and received a huge fine for laundering black and grey money, especially pochądzych with the drug trade. Can zasugerujmy the EU that it should close our banks.
• Chief technology Bitcoin.com disappointed Bitcoinem:
According to co-founder and chief technology Bitcoin.com, Emil Oldenburg, Bitcoin is useless and has no future as a currency in high transaction costs and long implementation period. In an interview with Swedish technology Breakit, Oldenburg said that they sold all their Bitcoins and switched to Bitcoin Cash, Bitcoin hard forka, established in August 2017. Oldenburg at the same time recognized of investing in Bitcoin a very risky
At the moment I would say that investing in Bitcoin is the most risky investment you can make. Recently I sold all my Bitcoins and switched to Bitcoin Cache.
Despite the fact that the company is in Oldenburg is actually a Bitcoin wallet, he says that Bitcoinem it was disappointing, given the high transaction costs and slow confirmation time, and said that the current performance of Bitcoin is completely unfounded. Increased the speed of operations and reducing costs are the main characteristics of the followers of the Bitcoin Cache. Transaction fees in the Bitcoin network grew during 2017 at an average 20 cents to $ 15.
Citing a clear conflict of interest between the company and the personal views of Oldenburg, he explained that the purse also comes from the Bitcoin to Cashu to focus on Bitcoin:
In fact, we have ceased to develop new services for old Bitcoin network, and basically we’re focusing on Bitcoin Cashu where the transaction value is only 0.12 of the dollar for transactions, and the lack of waiting time. Its only drawback is the fact that it requires large hard drives, but for most people this is not a problem.
Oldenburg argued further that the problems with Bitcoin transactions appear during entry of the transaction in the Blockchain. He argued that the bottleneck in the Blockchain leads to a very risky and niepłynną game currency:
There are only a limited number of operations per second that you can do in the Bitcoin network, partly it depends on the size of the memory block, which stores the transaction in the Blockchain. This bottleneck is very severe and niepłynną cryptocurrency (…) the old Bitcoin network is as good as useless.
• Half of Fund 1 MVP in Bitcoinie:
Legendary American investor bill Miller recently said on WealthTrack podkaście that about half of the money from his hedge Fund, Miller Value Partners (MVP 1), that is $ 1.1 billion, is currently inwestowana in Bitcoin. Miller founded the Foundation in 2016, after 35-year career with Legg Mason, where he also directed the concentrated funds. During an interview published 13. Dec, Miller explained that the Fund continually is not so much concentrated, but recognizes the value of owning Bitcoin.
Miller is a well-known media Manager, investor and philanthropist. 35 years of his professional career spent in Legg Mason Capital Management, where he held the position of President and Director of Investments. It was known from plants, guided, but not on the scale półfunduszu. After a career in Legg Mason, Miller established his own Foundation hedgingowy MVP.
According to the Wall Street Journal, the Fund MVP 1 until the end of October 2017. was almost a third of the capital in Bitcoinie and about 154 million dollars in managed assets. At the same time, the price of the most popular digital currency was about $ 6000.
• Kryptowaluty alternative is worth more than Bitcoin:
Today is another day for the green wave. Despite the fact that Bitcoin today is losing 1.9 percent, Most of the leading alternative crypto currency is gaining value. Ethereum is now 14.2 percent, Bitcoin Cash 6.5% and Litecoin of 11.71%. Also the propeller and IOTA considered today a significant increase in para 16.9% and 23.3%. Top 10 currencies with the highest total amount includes EOS today, which is now gaining 50.4 percent.
The success of alternative currencies are, primarily, two things. The first is market capitalization, which, despite the fall in the price of Bitcoin rose to 39.1 billion dollars and is currently 627,2 billion dollars, and the second domination of Bitcoin which today fell below 50%, which means that the total value of all crypto currency alternative is higher than the value of Bitcoin.
source: cointelegraph.com, coinmarketcap.com.