The End of Bitcoin is Always Nigh for Traditionalists
Recently, Washington Post writer Henry Farrell took the opportunity to declare a bleak future for Bitcoin, but more specifically its revolutionary transaction network. His article "Bitcoin's financial network is doomed" was responding to an article in Vox where the author proclaims that despite the adoption difficulties of Bitcoin as a currency, the long-term success of Bitcoin lay in its technology, that is, the block chain and the seamless global transaction network. Farrell argues that the network is exactly the reason Bitcoin's future is nothing but trouble and litigation: Now, imagine....
Related News
Retired investment banker and former US Treasury adviser to Croatia Martin Hutchinson recently penned a hit piece in which he made clear two things. One, he does not understand how Bitcoin mining works and two, this lack of understanding leads him to believe that Bitcoin will fall flat on its face in 2015. In his article for the Reuters Breakingviews site, he uses outdated metrics as well as a clearly weak understanding of how cryptocurrency works to make this prophecy. Also read: The End of Bitcoin is Always Nigh For Traditionalists. [Bitcoin] is controlled not by a state but by an....
I wrote an article just yesterday in which I suggested a target of $1,000 was on the horizon for bitcoin. Taking my own advice, I went long as a result of that analysis. However, I have since closed that long position as a result of subtle indications on the 2 hour chart that support might be failing. As you can see, when price fell, price bounced odd the 2nd arc and re-entered the sphere of the 1st arc. The arc provided support for several candles. This was the bullish event that led me to believe that another bitcoin rally was likely beginning. However, at the red arrow, the 1st arc....
How easy is it to order a pizza with Bitcoin nowadays? Three authors of Cointelegraph have tried to do it in the US, UK and India, and here is what came out of it. “Ordering Pizza with Bitcoin in India is nigh impossible” - Shivdeep Dhaliwal, India. I have never purchased anything with Bitcoin in India yet. Ever. No pizza chain in my city takes Bitcoin, so my idea was to buy a voucher with Bitcoin from either ZebPay or to credit a payments app called Mobikwik through Unocoin and buy pizza through that. Alas. This was not to be. The Zebpay voucher had ran out of validity and Unocoin....
Today was a pretty quiet day for most of the coins. So if you will indulge me, I will take a look at ethereum’s daily chart and wax a little philosophical. I am not new to publishing my thoughts and forecasts. I ran an email-based advisory service for a couple years, and have written in magazine formats like this in the past as well. It is a challenging position because one’s thoughts are open to the world to see, and it is nigh impossible to be right more than a few times in a row. One’s mistakes are exposed. Professionals will never mock your mistakes, because they well understand that....
Mastercard spent $299 Million on capital expenditure in 2013, and I intend to conservatively assume that Visa, with its larger payment processing network, spent at least a similar amount. In the year 2013, MasterCard and Visa together processed a combined $7.4 trillion in purchases. Combining these figures with those of American Express and Discover, the four companies together generated $61.3 billion in revenue, during the same period. In January of this year, there were approximately 12.2 Million bitcoins in existence. I will agree that many of these bitcoins may well be 'Zombies' or....