Results for Bitcoin

Report: Emerging Markets See Sharp Growth in Cashless Transactions

October 18, 2018

South Africa is the most cryptocurrency-friendly country in Africa, according to the 2018 World Payments Report by French banking group BNB Paribas and IT company Capgemini. Compared to other major economies on the continent, South Africa has allowed digital currency-based payments, trades and investments to flourish almost unhindered.

As Digital Payments Rise, Leading African Economies Trade Cautiously on Cryptocurrency

The report, released Oct.17, concluded that digital payments, including cryptocurrencies like bitcoin, have grown sharply all around the world, and “are experiencing a boom, driven by developing markets”, including Africa.

Ghana and Kenya, the 11th and 9th biggest economies in Africa, respectively, are still in the consultation phase. Nigeria, the continent’s biggest economy, with a GDP of $376 billion, is opposed to virtual currency, officials have said. The central banks of Kenya and Nigeria have both likened cryptocurrencies to a “pyramid scheme.”
“The central bank of Nigeria has also imposed a complete ban on bitcoin and the likes, while Brazil also has banned cryptocurrency,” said the report, which detailed that global cashless transactions rose 10.1 percent to 482.6 billion at the end of 2016. Non-cash transactions include checks, debit cards, credit card payments, credit transfers and direct debit transactions.

South Africa Leads in Crypto Regulation, Adoption and Development

Africa has steadily accelerated the switch to modern technologies. Cellphone-based payments have expanded particularly fast in countries like Kenya, Uganda and Zimbabwe. But it is South Africa, the continent’s most sophisticated economy, that leads the pack where cryptocurrency regulation, adoption and development is concerned.
The economy is home to a number of bitcoin ATMs and digital currency exchanges – including Luno, which has two million customers throughout the world – allowing people to buy and sell digital coins in the local fiat currency, rand. Domestic financial companies, including banks, are starting to step into the space. On Monday, Standard Bank said it is looking to establish a number of events to help explain the benefits and risks of cryptocurrency and the blockchain.
This is all thanks to the open-mindedness of the South African Reserve Bank (SARB). Although the regulator does not recognize cryptocurrency as legal tender, it has not prevented trade in such. In April, the bank announced plans to create guidelines for cryptocurrency markets in the country. SARB has also tested an inter-bank settlement system code named Project Kohka, which runs on the Ethereum blockchain, aiming to speed up payments.

Emerging Markets See Sharp Growth in Cashless Transactions

Meanwhile, the World Payments Report – based on data from the World Bank, the Bank for International Settlements and the European Central Bank’s statistical database – showed that developing markets are at the forefront of a global boom in digital payments, with Russia (annual growth of 36.5 percent), India (33.2 percent) and China (25.8 percent) as notable movers in the 2015-16 period.
Mature markets maintained steady growth of more than 7 percent in the period under review. Developing markets are seen growing 21.6 percent, led by Asia at 28.8 percent over the next five years. By 2021, developing markets are expected to account for around half of all non-cash transactions worldwide, overtaking the mature markets for the first time, whose current share stands at 66.3 percent.
Anirban Bose, CEO of Capgemini’s Financial Services, said it is critical for banks to find ways to tap into cryptocurrencies and other non-cash payment methods if they are to remain relevant.

The report further indicated that high numbers of non-cash transactions can provide benefits to the society, addressing growing challenges of corruption – especially in Africa. This is because non-cash transactions share a positive linear correlation with corruption perception index.
This probably emanates from the fact that digital transactions from financial institutions and mobile money can be more easily traced than cash, hence can allow law enforcement agents to investigate and prosecute the suspicious transactions. The WPR report also noted that the more payments are shifted to cashless instruments, the more likely that huge cash transactions can be “flagged and investigated, reducing the possible means of accepting illicit or fraudulent payments.”
“Governments should create the necessary supply-side push for such transactions by creating the supporting infrastructure, bringing positive change with regulations, and promoting non-cash transations to create a conducive environment for digital transactions to grow,” the report warned.
What do you think about the cryptocurrency landscape in Africa? Let us know what you think in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com
Report: Emerging Markets See Sharp Growth in Cashless Transactions Report: Emerging Markets See Sharp Growth in Cashless Transactions Reviewed by Sulhan on October 18, 2018 Rating: 5

How to Setup Bitcoin Cold Storage - bitcoin.com

October 18, 2018

In this guide we will walk you through setting up your very own cold storage wallet. Before diving into the process, you may be wondering what is cold storage?
In simple terms, cold storage refers to keeping your Bitcoin completely offline. Cold storage, also known as a cold storage wallet, is the opposite of a hot wallet where your Bitcoin is kept online. Since Bitcoin is a digital asset, keeping them online increases your risk or attack surface for having your bitcoin stolen when kept online using a custodial service. By keeping your bitcoin in cold storage, your attack surface is greatly diminished.
Getting started
The first step to getting your Bitcoin into cold storage is creating an offline Bitcoin address. This address will have both a public and private key-pair which never goes online (until you’re ready to spend it). With this guide, we will show you how to make a free cold storage wallet using the paper wallet method.
Setting up a paper wallet
Setting up your cold storage paper wallet is fairly simple and requires very little technical knowledge. The first step will be to go to the Bitcoin.com paper wallet tool here.
Before doing anything else, while on this page you will want to save it locally to your computer. To save a web page to your local machine, press Ctrl-S and save the file as a complete webpage (to your desktop for example). After saving, simply close out the open Bitcoin.com paper wallet tool page. Then disconnect your computer from the internet; don’t worry, you only need it offline temporarily for this task.
After disconnecting from the internet, open the saved file (on your desktop). Move your mouse around on the page and/or type some random characters into the text box to create extra entropy (randomness). By doing this, you create a random Bitcoin address that has both a public and private key-pair. Since you saved the file locally and are not connected to the internet, the Bitcoin address you created was done completely offline.
The final paper wallet page should look similar to this example page
Print the page
The next step is making an offline copy of your Bitcoin address which you can later load with Bitcoin for a complete cold storage solution. While on the locally saved paper wallet page, while still disconnected from the internet, click on the Print button. Warning: before printing the page, make sure your printer is also offline (not connected to the internet through wifi for example). Once you are sure, print the page. Congratulations, the hard part is over! You have now created an offline Bitcoin address and made a hard copy of it locally for safekeeping. On the printed page should be the public Bitcoin address and QR code with the corresponding private key and QR code. We strongly recommend that you store the paper wallet somewhere secure, such as a fireproof safe. You can now safely connect back to the internet.
How does this work?
The Bitcoin.com paper wallet tool is a client-side address generator, which generates public and private Bitcoin key-pairs locally through your browser. The benefit of this technique is you can load the JavaScript locally and trust that the JavaScript did not change after being loaded. The tool is open source and the code can be reviewed at any time. Also, make sure you never share your private key with anyone or online.
Adding funds to your cold storage wallet
The next step is you want to add bitcoin to the wallet. Just like with any other bitcoin transaction, using a wallet you may have online, scan the public cold storage wallet QR code or copy the address, and send funds to your cold storage. You can check the status of the funds at anytime using a Bitcoin block explorer.
Redeeming bitcoin from cold storage
When you are ready to spend from your cold storage wallet, you will need to import the private key to a Bitcoin wallet that is online. Any wallet that supports importing private keys will work. For example, if you download the Bitcoin Unlimited wallet (which is a full Bitcoin client) you can import the private key. To do so, simply follow these steps:


  • Open the client and click on Help
  • Select the Debug Window and click on the Console tab
  • Type in the field “importprivkey <bitcoinprivkey>” (replace <bitcoinprivkey> with your private key and remove quotes)
  • Hit enter to import the private key; this will require a rescan of the blockchain which may take a few minutes to sync.
In this screen, you can see the “importprivkey” command in the Console. Type “help” in the Console to get a full list of wallet commands.

Another alternative online web wallet that supports importing private keys is Blockchain.info. To import your private key on this wallet, simply follow these steps:


  • Open the online wallet
  • Click on Settings and then click on Addresses
  • Click on Import Address
  • Copy and paste the cold storage private key and click Import/transfer
  • You can safely archive the old address and transfer the funds to your wallet

Once you have successfully moved your cold storage funds online, they are ready to spend. Note: Never reuse cold storage wallets. Once you have redeemed them online, follow the process outlined above to create a new one when necessary. Want a cool place to spend your Bitcoin? Check out the Bitcoin.com store!

How to Setup Bitcoin Cold Storage - bitcoin.com How to Setup Bitcoin Cold Storage - bitcoin.com Reviewed by Sulhan on October 18, 2018 Rating: 5

Some things you need to know About Bitcoin

October 18, 2018

If you're getting started with Bitcoin, there are a few things you should know. Bitcoin lets you exchange money and transact in a different way than you normally do. As such, you should take time to inform yourself before using Bitcoin for any serious transaction. Bitcoin should be treated with the same care as your regular wallet, or even more in some cases!


Securing your wallet


Like in real life, your wallet must be secured. Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly. Always remember that it is your responsibility to adopt good practices in order to protect your money. Read more about securing your wallet.

Bitcoin price is volatile


The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers can convert them to your local currency.

Bitcoin payments are irreversible


A Bitcoin transaction cannot be reversed, it can only be refunded by the person receiving the funds. This means you should take care to do business with people and organizations you know and trust, or who have an established reputation. For their part, businesses need to keep track of the payment requests they are displaying to their customers. Bitcoin can detect typos and usually won't let you send money to an invalid address by mistake, but it's best to have controls in place for additional safety and redundancy. Additional services might exist in the future to provide more choice and protection for both businesses and consumers.

Bitcoin is not anonymous


Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should only be used once. Always remember that it is your responsibility to adopt good practices in order to protect your privacy. Read more about protecting your privacy.

Unconfirmed transactions aren't secure


Transactions don't start out as irreversible. Instead, they get a confirmation score that indicates how hard it is to reverse them (see table). Each confirmation takes between a few seconds and 90 minutes, with 10 minutes being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take much longer.

Bitcoin is still experimental


Bitcoin is an experimental new currency that is in active development. Each improvement makes Bitcoin more appealing but also reveals new challenges as Bitcoin adoption grows. During these growing pains you might encounter increased fees, slower confirmations, or even more severe issues. Be prepared for problems and consult a technical expert before making any major investments, but keep in mind that nobody can predict Bitcoin's future.

Government taxes and regulations


Bitcoin is not an official currency. That said, most jurisdictions still require you to pay income, sales, payroll, and capital gains taxes on anything that has value, including bitcoins. It is your responsibility to ensure that you adhere to tax and other legal or regulatory mandates issued by your government and/or local municipalities.
Some things you need to know About Bitcoin Some things you need to know About Bitcoin Reviewed by Sulhan on October 18, 2018 Rating: 5

How does Bitcoin work In bitcoin.org?

October 18, 2018


The basics for a new user 

As a new user, you can get started with Bitcoin without understanding the technical details. Once you've installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should be used only once.

Balances - block chain

 The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. It allows Bitcoin wallets to calculate their spendable balance so that new transactions can be verified thereby ensuring they're actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.

Transactions - private keys 

A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast to the network and usually begin to be confirmed within 10-20 minutes, through a process called mining.

Processing - mining 

Mining is a distributed consensus system that is used to confirm pending transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all the subsequent blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively to the block chain. In this way, no group or individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends.

Going down the rabbit hole 

This is just a short summary of Bitcoin. If you want to learn more of the details, you can read the original paper that describes its design, the developer documentation, or explore the Bitcoin wiki.

How does Bitcoin work In bitcoin.org? How does Bitcoin work In bitcoin.org? Reviewed by Sulhan on October 18, 2018 Rating: 5

INVESTING IN THE GOOD FOREX REMAINS CONVENIENT?

August 28, 2018

The economic crisis carries several victims consistently, we often hear about market expansion, Will the market the cost decreases and the cost rises each morning news is the opening of European markets, positive and negative numbers that seem to creep chance on our first cup coffee. But what is moving the market and, above all, certainly not be able to join?

And if I told you that coffee may have a different flavor, if I told you it might be a reward after the results after 30 minutes to an investment that is impossible? For the retailer all practice, therefore, 9: 00 am, after the investment and exploitation of livestock by the volatility that creates an open market, coffee has a completely different flavor.
The first step to becoming an operator.- Becoming a trader, of course, is not impossible. Merchant ship, as an electrician, plumber, engineer, etc. You can not improvise, study and practice. Forex is a guide that allows you to create a real sense of commercial vehicles. Fortunately, nothing costs the practice, in fact, all forex brokers offer a free demo account that simulates the investment, and then start using it. As for the theory, unless the currency market action you need to know technical analysis and fundamental analysis. First, it is important to learn to analyze the price chart, which is possible thanks to the study of technical analysis. Once you master the basics of the evolution of the price discipline will again have the same look, it’s like I started reading things I never imagined existed, that information, without the knowledge of technical analysis, it is impossible to detect.
The mechanisms that regulate the forex market.- To be a good trader, you need to enter in the mechanisms that regulate the forex market, find out what it is and how the market moves, and then examine the different strategies to be implemented for investment success. We focus our attention on what the currency market, and try to understand how it develops and how it works. The first thing to say is that this market is always open, H24, Monday to Friday; and because it makes us realize the potential of the currency market.
So the first thing to do is to understand all the mechanisms that are related to this market, the List of the main squares, as in any currency, exchange, eg in some cases are very intense, respect for others times. For example, if we consider the time in New York, who see the foreign exchange market opened the day at 8 in the morning to close the 17, here is the volume of trade recorded equal to 20% of all movements foreign exchange; while in London, opening at 3 pm, New York time, and closes at 12, with trading volume reaching 35%; which held the first step on the podium as the most important market.
Gradually another country, such as Sydney that opens and closes at 2 am 17, with 4% of trading volume, or Tokyo, which opens and closes at 19 am from 4 to 6% the volume of operations, say you want to invest in the movement of the yen, as Japanese currency, then you will go to concentrate their business in those moments when the Japanese market, where trade is opened and, therefore, the greater between different local brokers.
INVESTING IN THE GOOD FOREX REMAINS CONVENIENT? INVESTING IN THE GOOD FOREX REMAINS CONVENIENT? Reviewed by Sulhan on August 28, 2018 Rating: 5

Everything You Need to Know About Cryptocurrency Regulation

August 23, 2018

The meteoric rise of cryptocurrencies has taken the world by storm. Innovators, investors, users, and governments are scrambling to wrap their heads around cryptocurrencies and the blockchain technology that they rely upon. The emergence of a new market and business model has created great opportunities for participants, but it also carries significant risk.
Cryptocurrencies present an inherently unique challenge to governments because of their new technology, cross-jurisdictional nature, and frequent lack of transparency. Governments are struggling to develop new ways to regulate cryptocurrencies, adapt existing regulations, and identify fraudulent schemes. Cryptocurrencies and their regulations are evolving before our eyes, and this article will provide a brief background on cryptocurrencies and an overview of where cryptocurrency regulations currently stand.
What are cryptocurrencies?
Cryptocurrency is, by any other name, a currency—a medium of exchange used to purchase goods and services. Or, as some have suggested, cryptocurrency is a “peer-to-peer version of electronic cash.” However, this currency has two qualities that distinguish it from traditional bills and coins.
First, cryptocurrency is a virtual currency that is created through cryptography (i.e. coding) and developed by mathematical formulas through a process called hashing. Second, unlike traditional bills and coins that are printed and minted by governments around the world, cryptocurrency is not tied to any one government, and thus is not secured by any government entity. The fact that cryptocurrencies are not secured by a government authority has led to concerns from critics that this is the second coming of Tulipmania, because we are ascribing value to an otherwise valueless item. However, the potential for cryptocurrencies as a medium of exchange remains enormous.

What is blockchain?
Blockchain is the technology at the heart of most cryptocurrencies, and explaining the technology in detail would require a blog post of its own. What is important to know is that blockchain is a record of peer-to-peer transactions categorized into blocks on a distributed ledger. Despite the obtuse terminology, blockchain functions similarly to a local bank authorizing and recording a transaction, but instead of only one party holding the entire ledger book, the transactions are recorded communally by member nodes, with each node being a computer in a peer-to-peer distributed network.
The blockchain can confirm a transaction within minutes, removing errors that exist when trying to reconcile and audit separate ledgers and transactions. Whenever a transaction takes place, the miners on the blockchain develop a new hash and digital signature to update the ledger and create a new “block.” This block, or recorded transaction, is time-stamped and encrypted and will remain on the blockchain for life.



Regulation in the US – Utility Tokens v. Investment Tokens

In the United States, there has been no federal regulation of cryptocurrencies. Instead, cryptocurrencies are often grouped into two non-binding categories: (1) investment tokens that fall under the purview of already existing U.S. securities laws like the Securities Act of 1933 and the Securities Exchange Act of 1934, and (2) utility tokens, which remain largely unregulated (for now).
Security Tokens
Whether the tokens being offered in connection with a particular cryptocurrency are security tokens is decided on a case-by-case basis that even experienced securities lawyers can disagree upon. Tokens are usually analyzed under the four-part Howey Test below to see if the token is in fact a security. Securities must meet the following criteria:
  • An ​investment of money
    in a ​common enterprise
    with an ​expectation of profits
    predominantly from the efforts of others
  • Each characteristic of the token is analyzed against this framework to see if the cryptocurrency is in reality functioning as a new-age security. If it is, then regulators treat it as such, and cryptocurrencies must then be registered and handled with all of the same disclosures and precautions as any other security sold in the United States or to U.S. investors.
    Utility Tokens
    Cryptocurrencies can also be categorized as non-security utility tokens. These tokens purport to offer intrinsic utility and value, and are typically instrumental in powering the blockchain technology. These tokens function more like commodities than securities, and while they may act like currency in a fully functional network, they also have other values.

    However, having a utility token with a properly formed and functioning network does not preclude said token from being labeled a security by the SEC. In In the Matter of Munchee, Inc., a purported utility token with a non-functioning network was labeled a security by the SEC. While labeling a token without a functioning network as a security – as it has no present utility – is not unexpected, the SEC also concluded that: “even if [Munchee] tokens had a practical use at the time of the offering, it would not preclude the token from being a security.”
    After analyzing the Munchee Tokens under the Howey test, the SEC concluded that they were investment contracts because purchasers of the tokens had an expectation of profits predominantly from the efforts of Munchee and its staff. The SEC further concluded that Munchee had primed such expectations through its marketing efforts.
    While this new case does not eliminate the distinction between utility and security tokens, it does caution that, when deciding whether a given token is a security, the SEC will look beyond utility at the character of the instrument, and base their conclusion based on the terms of the offer, the plan of distribution, and the economic inducements held out by the token issuer.
    State Regulation
    So far only the state of New York has issued any kind of regulation specifically regarding cryptocurrencies: the BitLicense. The BitLicense is New York’s attempt to control cryptocurrencies within its borders by requiring cryptocurrency businesses to register and comply with several different disclosure and financial obligations. The regulation has been divisive, and many businesses have rallied against its high costs. While a few companies have applied for and received the license, most other companies have simply left the state or stopped offering services to its residents.
    Regulation Abroad – The Ever-Shifting Jurisdictional Question
    The United States is not the only country grappling with how best to regulate cryptocurrencies. Many cryptocurrency businesses face daunting questions regarding in which jurisdictions to form and to do business in. In the end, the question is quite difficult and fact-specific, requiring communication between legal counsel in different jurisdictions and taking into account nebulous and piecemeal country-by-country regulations. It is impossible to do a detailed analysis without knowing how a country’s existing securities laws, financial regulations, and banking regulations will operate (or will be adapted to operate) with cryptocurrencies. The fact that cryptocurrency-specific regulations are still developing does little to add clarity, and makes the analysis even more challenging. Yet a few global trends are noticeable:
    Suspending Cryptocurrencies
    Some notable countries, like China, and South Korea, have suspended cryptocurrencies. These countries have cited the risk of fraud and the lack of adequate oversight in suspending cryptocurrencies and their exchanges, forcing cryptocurrency companies and exchanges to relocate.
    Regulating Cryptocurrencies
    Other countries, like Japan and Australia, have adopted disclosure and regulatory measures, or have companies register with the applicable government authority. Several countries have also tried to implement disclosure or registration regulatory regimes when it comes to cryptocurrencies, but such regimes are cumbersome and expensive to fledging companies.
    Cryptocurrencies as Commodities
    On the other hand, Switzerland and Singapore, two of the countries at the forefront of the cryptocurrency market, have simply stated that cryptocurrencies are assets not currency, and that they will treat them as such under existing regulations.
    Conclusion
    Ultimately, cryptocurrency regulation remains in its infancy. Piecemeal regulation has already begun around the world as governments enact new regulations to control and legitimize cryptocurrencies, fold cryptocurrencies into existing regulations, or ban them outright. These splintered attempts at controlling a global phenomenon will keep the cryptocurrency market volatile, and pose a challenge to innovators, 
    Source : UpCounsel.
    Everything You Need to Know About Cryptocurrency Regulation Everything You Need to Know About Cryptocurrency Regulation Reviewed by Sulhan on August 23, 2018 Rating: 5

    23 Fascinating Bitcoin And Blockchain Quotes Everyone Should Read

    August 16, 2018
    Even though Bitcoin and blockchain are still in their infancy, they have both been the “talk of the town” as experts contemplate the potential ramifications—good and bad—for virtually every industry. As the leading cryptocurrency, Bitcoin is the first exposure many people have to blockchain technology. Many compare the transformative effect of blockchain to the disruption caused by the Internet, search engines and Google that changed the way we work, shop and communicate with one another. Everyone from world leaders to CEOs, and industry experts to investors are being asked their thoughts about Bitcoin and blockchain. Here are just a few of their opinions.
    “It’s gold for nerds.” —Stephen Colbert, Comedian
    “Bitcoin will do to banks what email did to the postal industry.” —Rick Falkvinge, Founder of the Swedish pirate party
    “Bitcoin is a technological tour de force.” —Bill Gates, co-founder of Microsoft, investor, and philanthropist
    “Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” —Leon Luow, Nobel Peace Prize nominee
    “Bitcoin is the most important invention in the history of the world since the Internet.”—Roger Ver, Bitcoin angel investor, and evangelist
    “Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.”—Edmund Moy, 38th Director of the United States Mint
    “Stay away from it. It’s a mirage, basically. In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending.”—Warren Buffet, CEO of Berkshire Hathaway
    “Still thinking about #Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.” —Lloyd Blankfein, CEO of Goldman Sachs
    “[Bitcoin] is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.” —Kim Dotcom, CEO of MegaUpload
    “It’s money 2.0, a huge huge huge deal.”—Chamath Palihapitiya, the previous head of AOL instant messenger
    “[Virtual currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”—Ben Bernanke, Chairman of the Federal Reserve
    “There are 3 eras of currency: Commodity based, politically based, and now, math based.”—Chris Dixon, Co-founder of Hunch now owned by eBay, Co-founder of SiteAdvisor now owned by McAfee
    “I am very intrigued by Bitcoin. It has all the signs. Paradigm shift, hackers love it, yet it’s derided as a toy. Just like microcomputers.” —Paul Graham, Creator of Yahoo Store
    “I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down.” —David Marcus, CEO of Paypal
    “Bitcoin is a classic network effect, a positive feedback loop. The more people who use Bitcoin, the more valuable Bitcoin is for everyone who uses it, and the higher the incentive for the next user to start using the technology. Bitcoin shares this network effect property with the telephone system, the web, and popular Internet services like eBay and Facebook.” —Marc Andreessen, entrepreneur & investor
    “Instant transactions, no waiting for checks to clear, no chargebacks (merchants will like this), no account freezes (look out Paypal), no international wire transfer fee, no fees of any kind, no minimum balance, no maximum balance, worldwide access, always open, no waiting for business hours to make transactions, no waiting for an account to be approved before transacting, open an account in a few seconds, as easy as email, no bank account needed, extremely poor people can use it, extremely wealthy people can use it, no printing press, no hyperinflation, no debt limit votes, no bank bailouts, completely voluntary. This sounds like the best payment system in the world!”—Trace Mayer J.D., a leading expert on Bitcoin and gold
    “Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value” —Eric Schmidt, CEO of Google
    “You can’t stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust” —John McAfee, Founder of McAfee
    “Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution. And bitcoin is doing just the same when it comes to inventing a new currency.” —Richard Branson, entrepreneur, business owner for Virgin empire
    “Ten percent of my net worth is in this space.”—Mike Novogratz, hedge fund manager, Galaxy Digital Assets
    “Blockchain is the tech. Bitcoin is merely the first mainstream manifestation of its potential.”—Marc Kenigsberg, founder of Bitcoin Chaser
    “Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.” —Vitalik Buterin, co-founder Ethereum and Bitcoin Magazine
    “Maybe I’m just too old, but I’m going to let this mania go on without me.” —Jeffrey Gundlach, DoubleLine Capital CEO and Chief Investment Officer
    Source: forbes.com
    23 Fascinating Bitcoin And Blockchain Quotes Everyone Should Read 23 Fascinating Bitcoin And Blockchain Quotes Everyone Should Read Reviewed by Sulhan on August 16, 2018 Rating: 5
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