Welcome to the Crowdify digest of interesting and important news and views about Bitcoin and Cryptocurrency.
Jens Weidmann, the head of Germany's Bundesbank and one of the most powerful figures in European finance, has warned that digital currencies like bitcoin have the potential to make financial crises in the future even more devastating.
Speaking in Frankfurt on Wednesday, Weidmann said he believes that central banks will eventually create their own digital currencies to reassure average citizens that such currencies are safe and stable, but in doing so could increase the risk of bank runs in future crises.
"Allowing the public to hold claims on the central bank might make their liquid assets safer, because a central bank cannot become insolvent," Weidmann said in a speech largely focused on the European Central Bank's QE programme.
"This is a feature which will become relevant especially in times of crisis - when there will be a strong incentive for money holders to switch bank deposits into the official digital currency simply at the push of a button. But what might be a boon for savers in search of safety might be a bane for banks, as this makes a bank run potentially even easier."
Full story at http://read.bi/2rB6EmY
Bittrex Cryptocurrency Exchange Trading Tutorial - Michel Gerard Online
You have probably heard about Bitcoin by now with all the news surrounding it reaching $3,000 per Bitcoin and then going up and down frequently. Now you may want to know how you can trade it with other altcoins in a cryptocurrency exchange.
There are on the Internet several websites where you can trade cryptocurrencies, and you can find an up-to-date list of cryptocurrency exchanges here: The Best Bitcoin Exchanges
Poloniex is the most popular cryptocurrency exchange in terms of volume, but popularity comes with a downside, which is a site going very slow at times, and this has been a complaint by many users lately.
Another excellent option is to use Bittrex, which is based and fully regulated in the USA.
Full story at http://bit.ly/2rBGNav
In relief rally, bitcoin jumps more than 20% from June low
Bitcoin quickly bounced back from the lows of June, amid improved sentiment about the future of the digital currency.
Bitcoin traded higher Saturday near $2,680, up more than 20 percent from a June low of $2,185.96 hit Thursday that had erased gains for the month, according to CoinDesk.
Worries about overexuberance in digital currencies overall and heated debate among developers about how to upgrade bitcoin's technology weighed on its price.
"A proposal was accepted to merge the two upgrade methods, making them compatible," Brian Kelly, a CNBC contributor and founder of BKCM, which runs a digital assets strategy, said Friday. "So we have seen a relief rally on this progress."
Full story at http://cnb.cx/2sShNj5
Forbes Encourages Readers to Buy Bitcoin at All-Time Highs
Throughout the nascent years of cryptocurrency bitcoin received scant coverage in the press, with the exception of few niche technology publications. For several years bitcoin evaded extensive coverage in the mainstream press, until the darknet hosted anonymous free-market The Silk Road began to garner attention for facilitating the sale of illegal narcotics using bitcoin as its currency. A spattering of news outlets speculated about the potential for bitcoin’s use a vehicle for money laundering, terrorist financing and narcotics sales. Soon after, however, bitcoin stunned the world with meteoric price gains after unusually harsh austerity measures were being forced upon the nation of Cyprus during 2014. A resulting flood of citizens seeking to convert their savings into any store of value that could evade government seizure drove bitcoin prices from $40 USD to $260 USD.
Forbes Encourages Readers to Buy Bitcoin at All-Time High Price Area
The rest of 2013 saw many obituaries for bitcoin published by mainstream news outlets, before bitcoin again shocked the world be rallying past $1000 USD following a sudden flood of Chinese entrants into the cryptocurrency markets. The subsequent popping of the China bubble saw a slow year-long grind back to sub-$200 USD prices, seeing the majority of mainstream media publications dismiss the bitcoin bubble as a digital contemporary ‘Tulip Mania’ that would never be heard from again.
The tendency for mainstream news outlets to dismiss bitcoin while its price is low before hyping cryptocurrency after it has boomed has become routine since the 2013 China bubble. The article published by Forbes in Level-Up in recent days titled ‘How To Buy Bitcoin, Now That It’s Reached An All-Time High’ echoes this familiar sentiment. The opening paragraph states that “the price for one coin has spiked to about $2,900. If you haven’t already, now is the time to buy in”.
Full story at http://bit.ly/2rBNYiN
Bitcoin Price at $5,000 Is In Sight: Max Keiser
Although Bitcoin price has struggled to recover back to its newest all-time high at $3,018, avid Bitcoin enthusiast and RT’s Keiser Report host Max Keiser has stated that a new all-time high for Bitcoin price is in sight.
Keiser wrote:
“New all-time high for Bitcoin in sight. Regulators will be twiddling their thumbs at $5,000, $10,000, and beyond. Welcome to NCO (New Crypto Order).”
Full story at http://bit.ly/2sSfMUe
How Can You Actually Spend Your Bitcoins, Explained
I have some Bitcoins and altcoins. Can I spend them anywhere I want?
Nope, sorry.
Unfortunately, Bitcoin is still pretty far away from becoming a universally accepted currency. Alternative cryptocurrencies seem to be even farther away from that point.
It has been a crucial problem for Bitcoin since its very beginning. What good is digital money if you can’t really spend it whenever you want? And the efforts of the community to improve the situation are one of the principal driving forces behind the growing adoption of Bitcoin and other cryptocurrencies.
Full story at http://bit.ly/2rBKc9q
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