Inshorts

November 11,
2017
Birthday of growth and development.

Bitcoin, blockchain-based digital currency. It was created in 31st October 2008, as "a new system of electronic money, which is completely based on the principle of p2p without the involvement of a third party’’. Over the years, this currency has gained considerable popularity, now it is used by more than three million people around the world, and the bitcoin rate is already over $7,000. Thus, the price for this currency since 2017 has already risen by 534.61%. Experts and analysts predict that this is not the last achievement of the currency and already in the next 5-7 years, bitcoin will use up to 200 million people, and its market capitalization is more than $100 bln.


Cryptocurrencies may soon take place of fiat money

Tim Draper, American venture capital investor said that in a near future, fiat currencies will be unnecessary. He mentioned that fiat money has many limitations, so there is a significant drop in the value of the national currency outside of its country. Draper said; ‘’in five years if you try to use fiat currency, people will laugh at you because cryptocurrencies will be relevant and will be no reason to have fiat ones.’’


Bitcoin hard fork SegWit2x cancelled

SegWit2x, which has been planned on mid-November has cancelled. The developers note that at the moment it was not possible to reach a consensus on increasing the size of bitcoin and further work in this direction could split the bitcoin community, and this was never the goal of SegWit2x. The purpose of the fork was to increase the block size to 2 MB and improve the scalability of bitcoin. Recall that some representatives of the cryptoworld expressed the opinion, that SegWit2x is a risky technology and gives miners and commercial organizations too much influence. There were also those who supported hard fork, noting that competitors earn on idle bitcoin. Adherents of the hard fork implementation, BitPico miners stated: "We will forge anyway, because everything is set in motion." They claim, that they have all the possibilities for this, owning thirty percent of the total bitcoin network capacity.


Bitcoin city in the Netherlands

Arnhem, a city located in the eastern part of the Netherlands is increasingly attracting the attention of bitcoin admirers. In 2014, a project was launched to transform the structure of the city into a comfortable place for bitcoin work. Now in Arnhem most of the establishments use the cryptocurrency; from fuel oil stations to restaurants, from bookstores to hotels. In many shops and restaurants of the city, establishments make discounts for customers who pay with bitcoin. Residents of Arnhem say that the advantage of this payment method is the speed of payment and the absence of intermediaries. It is planned that the number of places where possible to pay with bitcoin will increase in the future.


The representative of the European Central Bank about the cryptoworld

European Central Bank (ECB) does not ignore cryptocurrencies. Benoît Cœuré (Bönua Köğe), the central bank’s executive board member, explained that the ECB closely follows the development of the cryptocurrency, because some countries are now moving from using physical accounts and coins to creating their own cryptocurrency, so the ECB can not ignore its spread. Cœuré also noted that he does not think the widespread use of the cryptocurrency is the risk for the existence of banks or the traditional currency, Euro.


Blockchain partnership in Thailand

Improvement of banking work with the help of blocking. One of the largest banks in Thailand, the Bank of Ayudhya (Krungsri), in conjunction with IBM Cloud Garage, launched a pilot project based on blockchain technology. The partnership aims to accelerate the work with contact databases, which is designed to increase the transparency and security of data storage, accelerate the transaction, improve the efficiency and quality of customer service institutions. Voranuch Dejakaisaya, responsible for information and operations at Krungsri Bank said, during the past year they started pilot test work and the results were quite satisfactory.


The USA Government Bodies united by blockchain technology

US government takes interest in blockchain. Decentralized and distributed nature of blockchain attracts everyone’s attention. US Department of State has made partnership with ConsenSys to plan Blockchain State Forum. The forum took place in Washington DC. This initiative was designed to bring the US Department of State, the United States Agency for International Development (USAID), intergovernmental organizations and private companies together to hold a dialogue and form new partnerships in the development of blockchain technology.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.

November 8,
2017
Cryptocurrency makes music closer

Famous Icelander singer Björk, known for the fact that when creating their works without hesitation uses new technologies. As without exception, the singer announced, now the fans had the opportunity to purchase her the last album Utopia, for bitcoins and other crypto currency. Kevin Bacon, CEO of Blockpool says, that this is not about the marketing strategy with Björk but to be the leader in this field and create imaginative things to use for developing cryptoworld.


Bitcoin reached the next peak

Bitcoin reached the new highest and breaking the record of $7000, continues to grow. Most of experts express opinion that the further growth of bitcoin continues. "We believe that the possibility of hard fork of bitcoin is the main reason for the huge surge of interest toward it. To get additional coins, investors buy more bitcoins and exchange altcoins for bitcoins, which causes huge demand" notes Konstantin Gladysh, CEO of Changelly.com. Analysts of Goldman Sachs stated, that consolidation of bitcoin is possible at the level of $8000. Sheba Jafari, technical analyst at Goldman Sachs said ‘’The market showed impulsive growth when it broke through the $6044 mark. The next mark is $7941. Bitcoin can consolidate there, before it goes even higher.‘’ Tomas Lee, co-founder of FundStrat Global Advisors, also believes that by 2025 the course on bitcoin will grow to $25 thousand.


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