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Market Reaction to China News Shows Bitcoin Too Big to Kill

After a double blow from China, with its ban on ICOs, then news of total exchange bans, not to mention Jamie Dimon’s vitriol against Bitcoin, the digital currency briefly crashed to $3,000 before rapidly soaring back to, and holding, the $4,000 mark, which shows “bitcoin too big to kill”.

Bitcoin Too Big to Kill

Digital currency users are finding ways around the Chinese bans, other countries, like Japan and Hong Kong are profiting, and people are exposing Dimon’s ploy, all indicating that Bitcoin is now stronger than a few bumps in the market’s road.

Still as bullish as ever

Peter Van Valkenburgh, director of research at Coin Center, a Washington-based nonprofit research firm focusing on cryptocurrencies, sees positives in China’s knee jerk reaction. Valkenburgh said:

“The efficacy of any bitcoin ban is pretty dubious. It’s bullish because if a powerful government like China feels the need to ban major trading, then it’s a good indicator that the technology works and that it does what it’s supposed to. If it overcomes those controls, then it’s further proof that it’s independent from government controls, which  <Read More>  pretty radical.” <Read More>

Getting Involved in a Bitcoin Club

Joining a bitcoin club is the easiest way to begin creating wealth. With as just a few hundred dollars, you can be on your way to joining the elite group of bitcoin millionaires. <Sign Up>

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Bitcoins Are a Girl’s Best Friend: Diamonds for BTC in New York

In another move that signals a more sweeping adoption of Bitcoin, diamond retailer Samer Halimeh New York will begin accepting and trading Bitcoins as payment.

The international luxury diamond brand stated that previously most diamond purchases were completed with USD. However, a recent shift in Asian and Middle Eastern investor sentiment has led to a demand for Bitcoin purchases, and especially in VIP purchases of more than seven figures.

Diamond trading is one the latest industries being revolutionized by Blockchain. The Blockchain is also used in helping combat the trade in blood diamonds and the spreading of counterfeits.

Samer Halimeh, CEO of Samer Halimeh New York, said that Bitcoin provides a special vehicle for purchasing diamonds and other assets. Because of the flexibility of the cryptocurrency, many global clients are calling for BTC transactions both as sellers and buyers, driving worldwide demand of diamonds for BTC in New York.

He said:

“Because trading and retailing via Bitcoins can be done from anywhere in the world, it is especially beneficial for our suppliers in Africa and our clients from developing  countries like China, Brazil, South Africa, Nigeria, India and Uzbekistan. We also believe that in the future the currency will revolutionize the luxury goods marketplace and the use of this digital currency will make trading and purchases for our clients and contacts easier, cheaper and much <Read More>

Believe it! Bitcoins Are a Girl’s Best Friend: Diamonds for BTC in New York

Joining a bitcoin club is the easiest way to begin creating wealth. With as just a few hundred dollars, you can be on your way to joining the elite group of bitcoin millionaires. <Sign Up>

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Bitcoin’s Journey Toward Mainstream Acceptance Has Begun

Though Bitcoin was created eight years ago, the currency is just starting to attract largescale mainstream attention. The digital currency uses Blockchain technology for a safer and more efficient way of transacting online without the use of banks or credit cards.

In an interview by PBS, Don Tapscott discusses potential uses of Blockchain technology. Tapscott is the co-author of the book entitled “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.” Watch the interview below:

Pundits and investing professionals have called Bitcoin a bubble, since the price has increased an unbelievable 700% over the past year. While many wonder if such growth is sustainable, Tapscott explains that the technology that powers Bitcoin is so transformative as to render the question moot.

Indeed, with the rapid growth of Bitcoin, the days of bankers may be numbered. Digital currency disintermediates banks, provides services to the unbanked and is more secure.  Now you can join bitcoin’s journey toward mainstream acceptance.

Disintermediation

Traditional banking has seen fees grow steadily over the year, to the point where they make up about 40% of the average bank’s income, according to CNBC. Blockchain technology’s promise is simple: cut out the middleman (along with their exorbitant fees) and help secure financial transactions through a distributed ledger system. This results in fully decentralized transactions with relatively low fees. <Read More>