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Happy Genesis Block Day, Bitcoin getting stronger: BTC to the moon

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January 3rd, 2009, the genesis block of bitcoin of bitcoin was launched by Satoshi Nakamoto. In that genesis block was written a very important statement.

January 3rd, 2009, the genesis block of bitcoin of bitcoin was launched by the anonymous founder Satoshi Nakamoto. In that genesis block was written a very important statement about why bitcoin was created and a sign of the times in the failure of monetary policies of central banks and governments. Bitcoin is like rat poison for all the bankers as it is designed to bring the whole system down.

Bitcoin has been declared dead hundreds of times by the media and Bitcoin has survived all kinds of FUD such as Mount Gox, China crackdown and a lot more but bitcoin keeps pressing on which shows the resilience of the community and the network together to continue in the phase of all of these different things happening. No one has been able to stop bitcoin yet and as mentioned Satoshi Nakamoto to this day remains a mystery.

 

Ross Ulbricht:

Ross Ulbricht is still in jail to this day because of his grand crime of hosting a website where people bought and sold substances that could alter their conscience personally and a lot of that was done using. The fact that he is still in jail just screams of the overall injustice of the entire system that we are facing to this day.

 

Bitcoin Forks:

The forkers in the market have gone off and forked bitcoin quite a few times but it seems that Bitcoin or BTC particularly has been decided on at this time by the market. All of the alternative visions of bitcoin particularly bitcoin cash and bitcoin satoshi vision are really struggling especially after their most recent split up. The market is choosing BTC and not Bitcoin Cash or Bitcoin Satoshi Vision.

 

Censorship Resistance

There has been a lot of interesting things happening in the bitcoin space recently. BlockStream‘s satellites, for example, are going to next level censorship, you do not need the internet to connect, you can connect directly by a small dish on your house to the satellites in space. This is a very big development as it helps reach so many people that don’t actually have regular access to the internet. Right now, BlockStream’s satellite covers almost all regions of the world.

 

Lightning Network:

Lightning Network is a second layer scaling solution and it is growing all the time. It has surpassed a 510 bitcoin capacity currently, the number of channels over the last month in December has grown by 26%. There are different companies that are working on these implementations for lightning payments and as such, it is only getting bigger all the time and the technology is only getting better. Lightning will be a serious factor in the future of bitcoin in terms of scalability.

 

Snort Signature

Snort Signatures are digital signatures scheme which at a technical level is going to give bitcoin users a new way to generate cryptographic keys, also increasing bitcoin’s privacy and scalability. So this is a very important thing. It is worked on at the moment, we don’t have that implemented yet but it is coming and when it does come it will be an important part of the technical features of bitcoin.

 

Bitcoin Side Chains:

Bitcoin Side Chains are also very important in terms of expanding the use cases and functionality of the bitcoin mainchain. RootStock, for example, will bring smart contracts to bitcoin. BlockStream’s liquid will help to ease transactions between liquid providers. So a lot of things are happening in terms of making it more usable.

The hashrate is incredibly secure and although we have seen the hashrate decline as the price of bitcoin has gone down but if you compare today’s hashrate with the hashrate a year ago, we see a significant difference. The network is more secure than it has ever been.

 

Actual Access:

In terms of actual access, that’s also growing all the time. We have more and more fiat onramps for people to be able to buy bitcoin. Even though we still have domination of US dollar and Japenese Yen, Exotic currencies are being added. For example, Binance recently debuting in Uganda and letting people invest with the local currency there. We need to see this happening in more countries so we can have more fiat onramps and make it easy for people all around the world to get into crypto. The numbers are stacking up really well for bitcoin.

In terms of brand, the brand has never been stronger for bitcoin. More people know about bitcoin today than ever and that’s something very important to keep in mind. We have had a veritable explosion of bitcoin ATM’s in 2018 making access even easier for people. Paxful is reporting that in 2018 bitcoin sales were up by 20% in Africa which is great considering the bear trend in 2018. Record transactions are happening on Localbitcoins in countries like South America, Colombia, Venezuela, and Peru. People are getting into it and its expanding. That’s a really important thing to see bitcoin expanding to the corners of the world.

 

Proof of Keys Event:

Trace Mayer has organized the Proof of Keys Event. Proof of keys is an event happening today in which you take your crypto off the exchanges especially bitcoin and hold it in a wallet which you control the keys. The idea here is that there may be a lot of exchanges which may not have as much bitcoin as they profess to have. These third-party centralized exchanges have been a real bane to the crypto scene overall. Some of them are good actors but not all of them are. We have so much volume spoofing and all these different things going on that it is incredibly problematic and some of them may not actually have as much bitcoin as they say they have. So Trace Mayer is encouraging everyone to withdraw their bitcoins from the exchanges and put it in a wallet in which they control the private keys. We as a crypto community should always stand up to take a part in these events that are actually very important for the future of bitcoin and to end decentralization.

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Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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Kevin O’Leary from Shark Tank calls Bitcoin: Garbage and a Useless Currency

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During an interview with the CNBC, Kevin O'Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

During an interview with the CNBC, Kevin O’Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

 

Kevin O’Leary calls Bitcoin Worthless

Famous as the founder of Softkey, a startup that earns annual revenue of around $29 million and a host on the American business reality series Shark Tank, Kevin O’Leary is a celebrity amongst the business class in the United States of America.

 

During the interview published on 14th May 2019, Kevin expressed his thoughts over the king of cryptocurrencies bitcoin and called it a useless currency as the people who accept it just wants to hedge against the high volatility of the virtual currency. This comes in the midst of the current bitcoin surge as the virtual currency doubled its value in just a few days from below $4000 to more than $8000.

 

Kevin also explained why he has such negative views on bitcoin giving the instance of how once he tried using bitcoin for a real estate transaction in Switzerland. He said that it is not possible to get in and out of bitcoin while transacting in huge amounts.

 

He also gave an example stating that if one wants to buy real estate in Switzerland for $10 million. The seller wants a guarantee that the value comes back to him as currency at ten and the buyer has to hedge the risk of the cryptocurrency, hence it is not a real currency. Kevin said that the seller or the receiver would never want to take the risk of such high volatility and thus BTC is worthless.

 

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Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

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Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

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