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Billionaire Mark Cuban Claims Cryptocurrencies Are The Future

American tech billionaire investor and television personality Mark Cuban has recently claimed that he sees Bitcoin and its underlying Blockchain or distributed ledger technology (DLT) as the way of the future.

He also countered the various claims that the leading digital currency is not real and has no intrinsic value.

In an interview with Bloomberg, the renowned American businessman claimed that Bitcoin is just like the traditional stocks that investors can buy and sell.

Billionaire Mark Cuban Claims Cryptocurrencies Are The Future

“…it’s interesting because I think there are a lot of assets that have values based on just supply and demand. You know, most stocks, they don’t have any intrinsic value, no true ownership rights, no voting rights, you just have the ability to buy and sell those stocks. They’re like baseball cards and I think Bitcoin is the same thing…”

Cuban also said that he has been looking to buy into Bitcoin and the cryptocurrency market ever since and he confirmed that he already invested in the leading digital currency, as well as some initial coin offerings (ICO).

“”..I have bought some, bought it through an ETN based on a Swedish exchange because that gave me liquidity. I am also involved with ICOs, actually token sales, because I think Blockchain is a great platform for future applications…”

His most recent statements are quite far from his previous perception as he earlier called Bitcoin as ‘bubble’. His company’s recent moves, however, seem to be bullish of cryptocurrencies as his team have been investing in ICOs and Blockchain projects. <Continue Reading>

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Bitcoin Gold

Before the dust has even settled on Bitcoin’s civil war, which saw an acrimonious disagreement about how Bitcoin should handle its scaling debate, the major digital currency could be splitting again.

Bitcoin Cash was threatened, laughed off, created, boomed, and them fizzled out as Bitcoin carried on its merry mooning way, now with more capacity because of SegWit. Bitcoin Cash was the alternative to SegWit where blocks were blown up to monstrous proportions.

Bitcoin Gold, as the new potential hard forking currency will be called, is now an attempt to wrest the lucrative mining component of Bitcoin out of the hands of the giant firms that have monopolised the creation of the digital currency.

The people’s fork?

The new fork, set to reach landfall on October 25, is aiming to democratize mining. Mining farms and pools hold all the cards within Bitcoin, both as a voting demographic and as manipulators of things like price and fees.

Bitcoin Gold wants to see at-home enthusiast miners back in control. The project was apparently co-founded by Jack Liao, CEO of Hong Kong-based Bitcoin mining company LightningASIC. LightningASIC also conveniently sells the hardware that this new market of miners will need.

This fork seems to be a reaction to the general hatred that is flung towards Chinese mining giant Bitmain who, along with their controversial leader Jihan Wu, had a big part in the creation of Bitcoin Cash.

It must also be noted that Bitcoin Gold is different from another fork that is scheduled for November: Segwit2x. The November fork is aimed at increasing the capacity of the network where as the Bitcoin Gold split is looking to cut more people in on the mining pie. <Continue Reading>

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Bitcoin Price Eyeing $6,000 in 2017

There are a few rocky months left in the year for Bitcoin, but experts are starting to predict that the digital currency could still rally another 40 percent to end on $6,000 for the year.

Bitcoin price eyeing $6,000 in 2017

Many have had stabs at predicting the Bitcoin price at the end of this year of rapid rise, from stock picker Ronnie Moas who said he sees Bitcoin reaching $5,000 by the end of the year – although i already crossed that boundary recently.

Busy third quarter

Bitcoin has seen a lot of activity in the third quarter of this year, from dramatic rises to forks and bans on ICOs. However, despite the ups and downs, it has been a growing market overall.

Bitcoin was up over 74 percent in September, but the shifting landscape of governmental regulation and technology decisions has seen it bounce up and down recently.

Hard forking

The much anticipated and feared Aug. 1 fork, which went ahead, showed the differing sides of Bitcoin’s volatility as the fear of the fork caused a minor collapse, before a rapid growth.

Bitcoin Cash was created, but the fear and worry about the new currency was unfounded as Bitcoin quickly skyrocketed after the infighting ended and a consensus was reached on the scaling debate.

Japan’s power move

While the news of China’s crackdown was seen as negative, and the markets reacted as such, the recovery has seen a shifting in power. Japan has now emerged to take China’s mantle as one of the leading cryptocurrency nations.

Japan has been more open to cryptocurrencies. Regulators there legalized Bitcoin and major retailers have begun accepting it as payments. Japan’s Financial Services Agency (FSA) also <Continue Reading>

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Bitcoin in Your Investment Portfolio

Dan Morehead, chairman of digital currency exchange Bitstamp, is predicting that in the future, Bitcoin will be an asset of the serious investor as he backs the digital currency to revolutionize money.

Based on its disruptive nature, Morehead adds that Bitcoin is comparable to how voice-over IP took away the dominance of giant telecommunications companies on communication.

Expected and rational

Currently, Bitcoin occupies a space in terms of investment where it is speculative and experimental. There are the believers in the digital currency who make it part of their portfolio, and those who shun it completely.

However, Morehead sees the digital currency revolutionizing money, and if that happens: “The upside is so high, it’s a rational, expected thing to have in your portfolio,” he said.

In the same way that Morehead uses voice-over IP as an example of a changing technology, the chairman gives credit to the underlying Blockchain technology that has seen other cryptocurrencies spawn. <Continue Reading>

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Japan Becomes Largest Bitcoin Market as Traders Leave China

Japan has once again become the largest Bitcoin exchange market with 50.75 percent market share of the global Bitcoin exchange market. Analysts including BitFury Vice Chairman George Kikvadze attributed the surge in the trading volume of the Japanese Bitcoin exchange market to the exit of Bitcoin traders in China.

Earlier this week, the Chinese government, local authorities and financial regulators officially requested Chinese Bitcoin exchanges and trading platforms to halt their services by the end of September. OKCoin and Huobi, the two largest exchanges in China, were granted leeway to operate until Oct. 30, considering the fact that they have not been involved in any initial coin offerings (ICOs) in the past.

But, it seems as if traders are not willing to take any chances with the Chinese government and their unpredictable nature. The Chinese Bitcoin exchange market’s daily trading volume has halved within a period of three days, from 15 percent to less than seven percent.

According to various trusted Bitcoin market data providers such as CryptoCompare, China only accounts for 6.4 percent of global Bitcoin trades at the time of reporting.

Japan Becomes Largest Bitcoin Market as Traders Leave China

“This is a good thing. China can no longer play with the markets by banning Bitcoin. Cryptocurrency cannot be killed by any country. One solution to centralized exchanges is decentralized ones. I hear the Decred Project team has something cooking that helps with that.”

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US market benefits

Prior to the nationwide Bitcoin exchange ban by China, the US exchange market had consistently secured its position as the largest market in the world.

However, almost immediately after the announcement of the country’s three largest Bitcoin exchanges, BTCC, Huobi and OKCoin, were released, traders moved over to the Japanese Bitcoin exchange market. The abrupt migration of traders led to the short-term surge in the trading volume of Japan, allowing the market to overtake the US by over 20 percent in global Bitcoin exchange market share.

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How to Make Profit: Basic Rules for Beginners in Bitcoin Trading

There has been a protracted debate on the actual identity of Bitcoin, whether it should be regarded as a currency or a commodity.

With reasonable support on each side of the debate based on its inherent characteristics, a huge segment of the ecosystem is of the opinion that Bitcoin can, and should be regarded as both a currency and a commodity.

Whatever definition attached to Bitcoin, the constant variation in price offers an opportunity for investors to make a profit by trading the cryptocurrency, either as a long term investment or in a speculative short term pattern.

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