Jun 052016
 

Bitcoin Price Surge

This is a guest post by Andy Jenkins.

Things have been relatively quiet on the news front for bitcoin for some time, but that doesn’t mean the digital currency has gone anywhere. In fact, bitcoin has been steadily gaining momentum, rebuilding its value since bottoming at the beginning of 2015. Bitcoin has managed to bounce back from its first big test and another one is coming this summer.

Now that bitcoin has been stable for the better part of the year, fans of the cryptocurrency are preparing themselves for the next potential surge for its value. With the rise in value of Bitcoin, competition for “mining” Bitcoins is also on the rise, and the mining difficulty has been steadily increasing throughout the year.

Mining, for those unfamiliar, is a complex process specifically designed to be both difficult and time-consuming to keep the amount of bitcoins created at a near constant rate of issuance. Even as competition has heated up in the mining space, with more and more companies entering the fray and using more efficient equipment, the number of bitcoins is still issued at a fairly stable rate of 25 bitcoins per 10 minutes. There’s a limit on the total number of coins that can exist, set at 21 million. This helps to prevent any further inflation and devaluing seen from the overproduction of currency, like in traditional government backed currencies.

In order to ensure that the limit of 21 million coin mark is honored by the Bitcoin network, the value of mining bitcoins is cut in half every four years. Essentially, if 50 new bitcoins are created every 10 minutes, then now only 25 would be able to be created. The next time the halving will occur will be this July, and bitcoin enthusiasts are expecting prices to skyrocket when it happens. As the desire for bitcoins continues to increase and the rate of production is cut in half, prices are expected to go up accordingly.

It has now been more than seven years since the inception of bitcoin and the cryptocurrency is only becoming more commonplace with consumers. In 2012 (the last time mining was halved), a bitcoin went for close to $12 and had a market capitalization of around $100 million. Chump change compared to the rest of the world economy. However, fast-forward to today and a bitcoin is holding steady between $400 and $450 with a market cap of nearly $7 billion. Now we’re talking about some serious cash. Usage of bitcoin hit a record high in 2015 and apparently a good portion of this is through payments to major retailers. Businesses such as Dell and Overstock.com are reporting that up to 20 percent of their network activity now involves the currency. This is a far cry from its beginnings as the preferred method of payment on gray market platforms such as the Silk Road.

2016 has already been an interesting year for bitcoin, to say the least. With the halving coming around the corner, it’s only going to get more exciting this summer and bitcoin is looking like the most attractive investment it’s been in years.

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Jun 022016
 
Marc Andreessen on Bitcoin, Startups, and Tech

Tim Ferris, of the four hour workweek fame, did a great podcast with Marc Andreessen, the famed venture capital investor who is really into Bitcoin, and puts his money where is mouth is, by funding several Bitcoin startups like 21 Inc and Coinbase, and more recently Mediachain. Andreessen talks about a lot of topics, and […]

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Mar 162016
 
Lisk ICO Aims to Attract Developer Community With Javascript DApps

Lisk is a new cryptocurrency project with the aim of making it as easy as possible for developers to build and deploy their decentralized applications (DApps). Lisk is especially noteworthy in its use of JavaScript as the programming language that will power these DApps. JavaScript is one of the most common languages that most web […]

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Mar 102016
 
Bitshares Added to Microsoft Azure: Especially Useful for Bitshares

Bitshares announced today that it is available on Microsoft Azure. This may or may not seem like huge news to you, but I suspect people are missing the point. Just getting on to Microsoft Azure is a gimmick – everyone and their dog will be doing this soon for the publicity and price pump this […]

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Mar 052016
 
MaidSafeCoin's Trading Volume Exceeds Litecoin's on Steady Price Rise

MaidSafeCoin, the currency behind the SAFE network of MaidSafe, is seeing a steady price rise with increasing volume for the last few weeks, and over the last 24 hours, for the first time, its trading volume is higher than Litecoin’s. The price and volume run-ups have taken place after the testnet was released by the […]

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Feb 102016
 
Princeton's Bitcoin and Cryptocurrency Course and Book

Princeton University is taking the lead on American Universities teaching students about Bitcoin. Their professors have already taught an online course in this space, and have now provided everyone with a free copy of their book. The best thing is, the lead is coming from their computer science department, and therefore their treatment of the […]

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Jan 252016
 
Marketing Pivot: From Blockchain to Distributed Ledger Technology

The big news last week was the company Digital Asset Holdings raising $50 million from a bunch of top-names in the financial industry. And yes, these are some of the top financial institutions in the world. Here’s a list: ABN AMRO, Accenture, ASX Limited, BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse Group, […]

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Jan 062016
 
The Rise and Pivoting of Bitcoin API Startups

Today, Gem, a Bitcoin API provider, raised $7.1m in its Series A round bringing the total money it raised to $10.4m. That’s a significant chunk of money for the California-based startup and a nice piece of news in 2016 for the Bitcoin economy. After all, another Bitcoin API company, Chain, raised a total of $43.3m […]

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Oct 032015
 
New York's Bitcoin Center Reopens in SoHo

New York’s Bitcoin Center, which previously closed its location at 40 Broad Street just steps away from the now largely historic New York Stock Exchange building, has re-opened in the trendy SoHo neighborhood of Manhattan. The new location is at 25 Cleaveland Place, former restaurant and bar. The new location has a large outdoor space […]

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