By 2040, There Will Be No World Without Bitcoin
Balaji Srinivasan, a prominent venture capital investor and the CEO at Earn.com, a Bitcoin-focused startup that has raised over a hundred million dollars in early-stage funding, believes by 2040, everyone under the age of 30 will “have never known a world without Bitcoin.”
By that, Srinivasan essentially means everyone born after the year 2010 would be using Bitcoin as a store of value or a currency by 2040, given the current rate of Bitcoin adoption by general consumers, businesses, investment firms and financial institutions.
This week, Coinbase, CME, CBOE and Gemini, some of the world’s largest Bitcoin brokerages and financial institutions, have rolled out strategies and infrastructure to target institutional investors in the mid to long-term.
"With Coinbase’s Custody platform which allows institutional investors to invest a minimum value of $10 mln, and CME Group’s strictly regulated Bitcoin futures exchange approved by the US Commodities and Futures Trading Commission, by mid-2018, it is highly likely that most financial institutions in the US, as well as major markets such as South Korea and Japan, will have already adopted Bitcoin as a robust store of value and digital currency."
Full story at http://bit.ly/2hHlIrK
Source: CoinTelegraph
Bitcoin Now Processes $2 Billion Worth Of Transactions Per Day, A 10x Increase In 2017
2017 has been bitcoin’s biggest year yet, with the digital asset reaching another new all-time high above $8,000 over the weekend. In addition to the exploding price, the total value transacted on the network per day has also seen substantial gains this year; however, the actual number of transactions processed by the network per day has been rather stagnant in 2017.
For most of January, roughly $200 million worth of bitcoin was being sent around the Bitcoin network per day. Things didn’t really take off until May where there was a steady rise in the total value of the transactions processed by the network. Near the end of that month, days where more than $700 million was transacted on the network were common.
After declining over the next couple of months, the value being transacted on the Bitcoin network spiked in the runup to the release of Bitcoin Cash, which forked off from the Bitcoin ledger on August 1st. The lock-in of the much-anticipated Segregated Witness (SegWit) improvement for Bitcoin also occurred around this time.
Roughly a billion dollars of value was sent around the Bitcoin network per day in early August. This number declined down to $600 million by late September before exploding to $1.5 billion by late October.
Full story at http://bit.ly/2hJr2ev
Source: Forbes
Survey Says 88% of Japanese Have Heard of Bitcoin
A recent survey of 10,000 men and women across Japan shows that 88% of them have heard of bitcoin. Among those that have bitcoin, 47% said that they have used it in retail stores but long-term investment is most respondents’ main reason for purchasing bitcoin.
Global market research company with agencies in over 90 countries Macromill Group recently conducted a survey on the awareness and usage of bitcoin among the Japanese. Ten thousand men and women aged 20 to 69 across Japan participated.
The Japanese government legalized bitcoin as a method of payment in April. In July, they declared the sale of bitcoin free from consumption tax. Since then, more Japanese have been exposed to bitcoin online and offline, as more merchants start accepting the digital currency and promoting them in the process.
Among the 10,000 respondents, Macromill Group found that 56.2% said they have heard of bitcoin but do not know what it is. In contrast, 31.4% said they know what bitcoin is while 12.4% admitted they do not know what it is at all. The company summarized:
Full story at http://bit.ly/2hG65Rp
Source: Bitcoin News
Bitcoin to hit $20,000 by December 2018 – investor
Mike Novogratz, the former macro hedge fund manager at Fortress Investment Group who has joined the mad dash for crypto-currencies, predicts the value of a bitcoin will soar to $20,000 by the end of 2018, fueled in part by his believe mainstream institutional investors are about six to eight months from adopting the volatile crypto-currency.
Full story at http://bit.ly/2hJjh8n
Source: SydesJokes Blog
FUD on All Sides: In Defense of CME's Bitcoin Plan
I'm a member of the Chicago Mercantile Exchange. I've also been a bitcoiner since 2013. So, when CME Group announced its intention to launch bitcoin futures in the coming weeks, I thought, "Great! Way to go, CME."
The first exchange to offer a futures contract on bitcoin is good news for my CME friends: more trading volume and and speculative opportunities. And it's also good for my bitcoin friends: the legitimacy and access is sure to help with adoption and higher bitcoin prices. Win-win! Right?
Well, that wasn't quite the response I got.
Instead I heard just about every negative stereotype about both futures trading and bitcoin, from both communities. Let's try to put these misperceptions to rest.
Full story at http://bit.ly/2hHhEb6
Source: CoinDesk
Five Countries Where Bitcoin is Illegal
Be it due to fear, ignorance, or protectionism, governments have a tendency to legislate against perceived threats. The first prerogative of every government is to govern, after all, and any disruptive technology that erodes their power is liable to receive short shrift. Governments that ‘get’ bitcoin, such as Japan, have passed legislation that protects its citizens whilst facilitating the free trade of the digital currency.
The World’s Most Hostile Bitcoin CountriesSadly not all countries are as progressive, not just when it comes to embracing new technology, but in respecting basic human rights that people in developed nations tend to take for granted. In the most egregious cases, citizens have had their assets seized, accounts frozen, and been locked up. Governments can’t stop the blockchain from propagating, but they can severely hamper their citizens’ attempts to access it.
Like banning drugs, alcohol, or the internet, banning bitcoin sounds nonsensical and The World’s Most Hostile Bitcoin Countriesunenforceable. Nevertheless, that’s exactly the case in five countries: Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and Nepal. As news.Bitcoin.com recently reported, the Nepalese government has jailed almost a dozen cryptocurrency enthusiasts, with the latest pair seemingly guilty of little more than operating a small-scale bitcoin exchange.
In South America, bitcoin is mostly synonymous with Venezuela, whose people have been turning to the cryptocurrency as a haven amidst rising inflation and a failed economy. It is the continent’s most centralized country geographically, however, which has come out against decentralized currency; In 2014, the Central Bank of Bolivia banned bitcoin and the government has since sharply cracked down on its usage.
Full story at http://bit.ly/2hJjgRR
Source: Bitcoin News
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