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The price of Bitcoin climbed above $3,500 and at the moment it is standing a little above $4,200. While some people are doubtful towards this gradual increase in value, Veteran trader masterluc says otherwise. He’s made a prediction that Bitcoin will be worth $15,000 by the end of 2017.  He claims that this bull run will continue into 2019 where the price will top out anywhere in between $40,000 and $110,000.

Masterluc is said to have a history of being right in his predictions, and many experts agree that the rise will continue for a while longer, which could have some major consequences for paper money.

Bitcoin recently celebrated its market cap crossing over $50 billion as it tripled the price of gold. Predicting the future of the digital currency is not an easy task especially when its reign shows no sign of ending.

 

News Credits: futurism.com

Image Credits: bloomberg.com

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One thought on “Famous Bitcoin Trader Claims the Currency Will Hit $15,000 in 2017.

  1. I must thank you for the efforts you’ve put in penning this site. I’m hoping to see the same high-grade blog posts from you in the future as well. In fact, your creative writing abilities has encouraged me to get my very own website now 😉

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Think Your Life Is Hard? Man Threw Out Bitcoin Hard Drive Now  Worth $80m!

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A man has shared his pain after unknowingly unconsciously tossing out a Bitcoin hard drive seven years ago. The hard drive is now worth $80 million. Campbell Simpson, supervisor of tech site Gizmodo Australia, says he passed up a major opportunity for amazing wealth since he ejected a piece hard drive containing 1400 bitcoins. Seven years later, the Bitcoin market soared and Mr. Simpson’s apparently unimportant web money, which he purchased for $25, is currently worth $80 million dollars.

Bitcoin, which is online cash connected to a client’s digital wallet, is payment used to trade on the web and is acknowledged by numerous organizations. In 2010 Mr. Simpson’s 1400 Bitcoins were just worth around $25, however now, one Bitcoin is worth over $4,000.

‘I didn’t need or think about, anything on it. So I discarded it,’ he said.

At the point when usage utilization on the web began to explode, Mr. Simpson consistently – but bitterly – checked how much his 1400 was worth. After understanding his Bitcoin accumulation would have been worth $4000 a couple months later, Mr. Simpson was marginally irritated.

In any case, this month Bitcoin achieved a noteworthy high value, making his once-measly hard drive of worthless crypto a $6 million gold mine.

‘This is presumably a ridiculous thing, looking back, that I’ve at any point done. Also, I’ve done a considerable amount of idiotic things a ton of times,’ Mr. Simpson said.

The tech author says he has been offered advice on the best way to potentially recover the long-gone hard drive, however, he concedes he won’t try attempting to discover it. ‘I don’t even want to discover those Bitcoin, though. I’m truly content with my life right now. I needn’t bother with them,’ he wrote. ‘I’m for the most part really nice in life, I think, and I can giggle about it for like 95% of the time.’

Despite admitting he is not in desperate need of the hard drive, Mr. Simpson bemoaned the type of lifestyle he could live if he had $6 million – and says he could have even purchased a house in Sydney, ‘I could have purchased a house. In Sydney. At Sydney costs. I could have traveled the world or purchased a goddamn yacht or something,’ he added.

Here is a string of tweets he posted earlier this year:

 

Seems pretty pissed to me! What do you think of this unfortunate event? Let me know in the comment section below.

 

Story and image credits: Daily Mail

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Bitcoin Goes Past $4,000, Again! Next Stop $5,000?

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Bitcoin’s back at it again with a major boost crossing $4,000.

Image credits: Bitcoin.com

 

It’s really become a routine for bitcoin owners to wake up to a different price almost every day.

The price of bitcoin has been a bit stationery ever since China regulators announced a ban on ICOs and shut down of BTCChina by October. It tumbled down to $3,700 from $4,000 and remained in that range for the past two weeks.

But, now with the price coming around $4,050 and rising, it’s not too early to say that Bitcoin is back in the game. There hasn’t been an instance where bitcoin has failed to make a come-back and this was definitely one of those times.

So, what’s prompted this latest rally? It’s possible that the speculation of China’s exchange shut down is just temporary, especially since it was never formally announced. But regardless, this just proves that Bitcoin can survive without China and is resistant to the activities of a country.

Next stop, $5,000?

The bitcoin rally we experienced on Wednesday has assured several Bitcoin analysts and traders that if the current upward descent is maintained, we might see a $5,000 hit soon.

A well-known bitcoin trader and investor, Tuur Demeester, also distinguished that if the trading volume in Japan, South Korea, Europe and the US sustains, we could be in for another strong rally in the near future.

News Credits: steemit.com

Tags: Bitcoin news

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Tax Authorities of Spain Request for Cryptocurrency Users’ Information

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A source from Spain’s tax agency has confirmed that requests have been sent to over 60 companies by Spanish tax authorities to get information about the cryptocurrency users.  According to the source, the authorities have contacted almost a dozen cryptocurrency exchanges, 16 banks, companies operating cryptocurrency ATMs and over 40 businesses that allow online cryptocurrency payments.

crypto taxes

Details of Requests

The agency is looking for an authentic information about the transactions of cryptocurrencies as well as the parties that are involved in their implementation. The details of these requests include:

  • The identities of the businesses’ clients.
  • Bank account Information.
  • Credit card information.
  • The amount in the bank account/credit card.
  • Exchange rates involved in transactions.

The tax agency source has defined these information requests as an opening to the stricter investigation and scrutinizing. The source also added that the agency is already doing an analysis on the use of domestic cryptocurrency. The news originates from a sensitive interest amongst the international tax agencies in cryptocurrency, one that follows the surge of the market to over $800 billion in value.

Improved Oversight and Supervision

In addition, the news follows exertions from the ministry of finance, which manages the tax agency, to focus on cryptocurrencies including Bitcoin, as it was released in an official announcement which was published in the month of March. At the time, officials of government remarkably wanted to connect the technology to organized delinquency, calling for improved omission and regulation.

The worldwide regulatory environment has now become more challenging for cryptocurrency investors, especially for those who once bloomed in a climate of obscurity and legitimate ambiguity. Also, Australia has announced that it is imposing new regulations on digital-currency exchanges. Spain is not the first country which is sending out warnings to the market involving the buying of cryptocurrency and crypto taxes, linked to the activity because this is something that numerous countries are trying to crack down on, and it also makes it clear that buying digital coins will not provide exception from tax.

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Myth Debunked As Elon Musk Claims He Is Not Satoshi Nakamoto

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On November 26, 2017, a news came out about a former SpaceX employee claiming that Elon Musk was “presumably” Satoshi Nakamoto, the creator of Bitcoin. Bitcoin was established in 2008 and claimed under the pseudonym “Satoshi Nakamoto”, the rumored holder of more than one million Bitcoins.

The secret of Satoshi has been a hotly debated issue in the digital currency world, with entrepreneurs regularly claiming and denying responsibility. Many individuals jumped at the opportunity to get a reaction out of Musk, with very little success on the first day.

In under 48 hours, the news reached Musk, who swung to Twitter to expose the claims in true Musk way:

“Not true. A friend sent me part of a BTC a few years, but I don’t know where it is.”

Image credits: cryptocoinsnews.com

The gossip started from this Medium post from Sahil Gupta, a student at Yale University and former intern at SpaceX. Gupta’s post was widely covered over media, bringing together a blend of supportive and skeptical responses. Normally, the dominant part of reactions was doubtful:

“Obviously, and on the 7th-day Musk rested.” – Phil Thompson

“Musk is a serial self-promoter. Had he come up with anything 1/1000 are groundbreaking we’d have known about it.” – Frayed_Knot

“I will debunk this right now. There is no way Elon Musk is Satoshi. He would never create a currency system that uses so much energy. One bitcoin transaction uses the amount of power an entire home uses in a full week. No way would he impact the environment like this.” – Adam W.

“Yes and no doubt one of his P.R. companies facilitated this article.” – Dave

The last comment can be easily exposed. Yes, Musk is capable of many things, but it is safe to say that he didn’t create Bitcoin.

With Musk’s latest response, the secret of Satoshi lives on and stays to be one of the best mysteries in the crypto world.

 

STORY AND IMAGE CREDITS: CRYPTOCOINSNEWS.COM

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Bitcoin in Business – What Role Bitcoin May Play in B2B Community

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What Role Bitcoin May Play in B2B Community

Since the introduction in 2009, Bitcoin has been on an incredible rise. The value is always going up, and so is the speculation about BTC’s future.

At the time of writing, Bitcoin had already gone past the $2500 mark – and the trend is still expected to continue. Incredible! Isn’t it?

Considering bitcoin’s popularity, it is clear as rain that this currency is surely going to play a huge role in the B2B (Business to Business) community in future. However, the question is; what role will it play and how will bitcoin affect the B2B community worldwide?

Anyone with the slightest of the knowledge of business community would know that the volume of B2B transactions is way too higher than the volume of P2P (Person to Person) transactions.

Moreover, bitcoin in business has all the potential and tech to replace traditional payment systems – wire transfer being the most common one. In terms of speed, wire transfer is quite slow. The transfer between two countries may take up to a week; which, in business terms, is a waste.

Another traditional payment method used in the business community is ACH (Automated Clearing House). The method is cheaper but slower than the wire transfer, so it needs replacing too.

On the other hand, the client, as well as the merchant prefer instant Bitcoin payments and is a perfect fit for it. The crypto can be used to send/receive payments within a short period of time which may range from one to a couple of hours.

After reading all that, one might wonder: “if Bitcoin is instant and convenient, what’s stopping it from breaking into the Bitcoin B2B community?” It’s the acceptability and lack of usage. Bitcoin payments can only work if both parties are willing to use it – and considering the risks associated with this currency, not many are ready to accept bitcoin as a payment method.

However, if the business community decides to go with bitcoin, here are some benefits that they can enjoy:

Speed:

Compared to conventional payment methods, Bitcoin is super-fast. The ability to complete international transactions within a few seconds/minutes can solve the speed issues.

Cost:

Low transaction cost is another advantage of Bitcoin. Where other methods cost up to 10-40 USD, transactions through Bitcoin only cost a few cents.

Ubiquity:

The majority of the adult population relies on services like Money Gram or the Western Union for money transfer. Services like these follow a set of rules and restrictions imposed by the government; which greatly affects one’s ability to do business.

However, Bitcoin can solve the issue as it is regulated by a third party to impose restrictions on users. It ultimately provides users with more freedom and makes the transfer process simple. Anyone with a regular PC and access to the internet connection can transfer the coins to whichever part of the world they want.

These are some of the pros that Bitcoin brings with it for the business community. However, all is not that simple. Bitcoin adoption in B2B community can also bring about some harms with it – security and price volatility being the most common ones in Bitcoin community.

Security:

One of the biggest issues with Bitcoin is that the security is the responsibility of the individual making payments. For example, if someone is sending a certain number of bitcoins to someone else, the first thing they will need to make sure is to send it to the right address. A slight mistake and the coins are gone forever.

Another issue is that your computer at which bitcoins are stored must not have any spyware and other suspicious programs installed on it. It compromises the security of the bitcoins.

Volatility:

Another issue with Bitcoin is high volatility. The value of Bitcoin changes in a matter of minutes. With such instability, it’s almost impossible for the business community to adopt Bitcoin payments.

Conclusion:

Although Bitcoin is the most popular form of cryptocurrency and allows instant transfers, there some issues with it – stopping it from a wider adoption. Once these issues are dealt with, there is no doubt that bitcoin will rule the business world.

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