In a fairly dramatic reversal from their previous ban on cryptocurrencies (due to it being a method of moving money offshore), there is now a clear and sizable blockchain push in the region.
President Xi has publicly announced that the country needs to “seize the opportunity” afforded by blockchain technology. Within a speech to the communist party committee, he touted the ability of the technology to affect a massive change in the country’s business sector and the broader economy. They are now onboard, new laws are being enacted and they are pushing ahead, quickly.
This renewed blockchain interest in the…
It’s all turned a bit bleak for the Bitcoin community. In fact, that’s an understatement. If you haven’t been following, this is what it feels like….
The plane (in this case bitcoin) took off smoothly and made great headway early this year, climbing nicely into the sky with little turbulence. However, it’s now mid-flight and it feels like the airplane’s engines just stalled. We’re trying to work out if near death is imminent or if the damn things will get started again. The the problem is, as with airlines, the passengers aren’t the pilots. In fact, we don’t even know…
Do you know how many sides a dodecahedron has? Neither do I.
It’s easier to keep things simple. Three is a much easier number to manage, e.g. a good old fashioned triangle.
Interestingly, Bitcoin thinks the same. The last three months has seen its price trade in a so called “triangle”, almost religiously.
Let’s start with what I mean by a “triangle”. There’s a method of analysing price charts called “technical analysis”, which can literally be applied to the price of anything. We are essentially looking for price patterns and using them to predict what may happen to the price…
Here’s the deal. I have a fantastic investment opportunity for you. I invest in these complex crypto currencies. The returns are great and the strategy I have is low risk and bullet proof. If you invest $1000 today I guarantee that you’ll see a 50% return in just 45 days. Tell all your friends about it too and get them involved, it’s easy money.
The above is clearly me making an example of something that’s too good to be true. Hopefully you weren’t about to wire over $1000. …
Security is critical in all aspects of life. Think about how many data hacks have hit the news in the past year or two. Huge corporations losing sensitive consumer data far too regularly. Chances are that your details are out there somewhere for the unscrupulous to take advantage of, should they choose.
Security is particularly important in the crypto world due to its anonymity but also due to the inability to reverse transactions. If someone steals your bitcoin, the only way to get it back is for them to send it back to you. That’s pretty unlikely under most circumstances…
In case you hadn’t noticed, there’s been a lot of fresh attention from central banks and politicians on the crypto space over the past couple of weeks.
He might not like cryptocurrencies but the fact that the president of the United States is putting them in the spotlight raises awareness in an “all publicity is good publicity” kind of way. Here’s what the CEO of Coinbase had to say in response.
Bitcoin has a bad “rep”. A lot of people view it as a black market currency, which to be fair isn’t false. The first place Bitcoin was widely accepted post its inception was on dark net markets such as Silk Road, where pretty much anything was available for sale. The idea of these sites was that you used an anonymous web browser to keep your location invisible and an anonymous currency to keep your transaction invisible.
Here’s a screenshot of Silk Road, with all prices stated in BTC.