Bitcoin Price Might Exceed $1 Million, More Millionaires in World Than Bitcoins
While sources differ on the number of millionaires in the world, Credit Suisse estimates the number at about 35 million. This figure accounts for all “financial and nonfinancial wealth,” including assets, collectibles, and homes.
This is a remarkable number when compared to the total number of Bitcoins that will ever exist. While there are roughly 35 million millionaires in the world, there will only ever be a maximum of 21 million Bitcoins. That’s right--there will never be enough Bitcoins in existence for every millionaire in the world to own even a single one.
While you let that thought sink in, let’s consider what gives Bitcoin its value. Granted that there are numerous features we could cite, including a global network, an immutable Blockchain and a means to transfer wealth from one person to another without ever involving a middleman.
These are all fine features, to be sure. But what really makes Bitcoin valuable are two properties: scarcity and authenticity.
Full story at http://bit.ly/2xiBMH3
Source: CoinTelegraph
Cryptocurrency's Total Market Cap Has Risen Nearly 800% This Year
The total market capitalization (market cap) of cryptocurrencies has surged almost 800% this year, as the broader asset class continues to draw robust inflows.
This market cap reached $158.5 billion today, roughly 795% higher for the year, according to CoinMarketCap.
Cryptocurrencies attained this new market cap during a weekend when the price of both Monero and Litecoin surged to fresh, all-time highs.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Full story at http://bit.ly/2xtNq1T
Source: Forbes
Ronnie Moas Predicts Bitcoin Will Hit $20,000 Within Three Years
Standpoint Research founder and analyst Ronnie Moas has projected that Bitcoin will reach a value of $15,000-$20,000 by late 2020. The cryptocurrency has continued its upward trend, several times flirting with the $4,500 level. This makes a single Bitcoin worth about three ounces of gold.
According to Moas, the total market capitalization of all virtual currencies will soar from today’s $150 billion to $2 trillion in the next 10 years. He also compared the exceptional performance of the digital currency market to the “dot-com boom” of the 1990s.
“I am not any more concerned with Bitcoin being at a record high than Amazon or Google investors were concerned when those share prices jumped hundreds of percent and hit $100 and $200 many years ago. Today, both of those stocks are above $900. The question is not where we are at — it is where are we going? I do not think we are in a bubble.”
Full story at http://bit.ly/2xtMwCx
Source: CoinTelegraph
Burger King has launched its own cryptocurrency in Russia called ‘WhopperCoin’
Burger King has waded into the cryptocurrency market with the launch of its own virtual coin called "WhopperCoin" in Russia.
With each purchase of the burger chain's signature Whopper sandwich, customers can receive WhopperCoin tokens via a digital wallet.
Bitcoin traders have previously gotten a lot of flak in Russia, with reports last year suggesting users could even face jail time under proposed legislation.
However Russia's First Deputy Prime Minister Igor Shuvalov has since shown support for cryptocurrencies. In an interview with Russian media organization RBC, he said: "I am a supporter, a cryptoround (sic) must exist."
Full story at http://cnb.cx/2xu97iy
Source: CNBC
Swedish Programmer Becomes Rich After 2013 Bitcoin Investment
Swedish computer programmer Alexander Bottema has multiplied his life savings over one hundred fold in the last four years. He first invested in Bitcoin in 2013, when the digital currency was priced at only $30. Bottema realized that Bitcoin had huge potential and sold all his stocks and liquidated his savings in order to purchase as much of the digital currency as possible.
Bottema has not sold any of his holdings, even as the price of Bitcoin has flirted with $4500 in recent days. In an interview with Business Insider, the Bitcoin investor says:
”I consider it a retirement insurance. I’m not thinking about buying any more, since I can never get the same return on investment again. I could consider selling some of my assets should the price hit 100,000 dollars.”
Full story at http://bit.ly/2xu8BAX
Source: CoinTelegraph
How Blockchain and Digital Tokens Can Disrupt Money Transfer Business
In Q2 2017, the global average for remittance prices in the world was 7.32 percent. In Q1 this figure was 7.45 percent. This is according to the World Bank’s Remittance Prices Worldwide report.
Ironically, banks which have a wide network in the form of SWIFT remain the most expensive way of sending money around the world, with the cost averaging 10.99 percent.
Surely there has to be a better way for both senders and receivers of money?
Considering that a lot of beneficiaries of these remittances are family members in poor countries, the high percentage fee charged by money remittance companies is a big issue.
An Initial Coin Offering (ICO) from Transmission, a system of money transfer which promises ‘revolutionary changes to the traditional principles of existing currencies transfer and conversions’ is all set to raise money from the public.
Full story at http://bit.ly/2xj79BB
Source: CoinTelegraph
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