Kvě 01

Bitcoin Price Blunders, Suffers $15 Decline

Source: bitcoin

bitcoin

The bitcoin price has fallen… Probably not in the same manner as Olympus or London, but it has seemingly taken a trip down south to the $453 range at press time, equaling a $15 drop since our previous price study.

Also read: Bitcoin Price Inches Towards $470, Will $500 be Next?

Bitcoin Price Takes A Dive, But Should We Be Worried?

Some may take this as a time to panic; that reaction may be premature. Things can appear scary at first, and we’re likely to be reminded of the troublesome year that was 2015 and bitcoin’s previous drop in 2014 from $1,000 to $600, but there’s not enough evidence to suggest such a drop is coming again. Bitcoin is still holding its ground, and as we’ve seen in the past, bitcoin’s price is only as good as its publicity.

Previously, discussions of bitcoin’s integration with Steam and the hype surrounding Segregated Witness meandered through Internet chat boxes, and they haven’t disappeared. People are still talking, and the news is still considered a high-mark in bitcoin’s controversial, but unique career.

One thing to consider, however, is the heavy drop experienced by ether last month. Thought to be one of the digital world’s more prominent altcoins, ether could likely have a larger hand in the cryptocurrency arena than we think. Cryptocurrencies are often interwoven; they utilize the same technology, and can bring each other directly to the top, or down to the lowest common denominator depending on the circumstances. It’s hard to say for sure if ether’s status is affecting that of bitcoin’s. Ether’s misfortune was first witnessed in March while bitcoin has endured an exciting few weeks, but it’s not something we can rule out entirely.

Others are being quite hard on Bitcoin, predicting a massive drop that will likely bring it down to the bottom rung (some say $300) before it begins any further escalation. As we’ve all seen in the past, this can happen at virtually any point in time. Cryptocurrencies, for the most part, are like stocks — they’re unpredictable and depend greatly on outside market influence to sustain flow, wealth and stamina.

But there is some good news to consider. Even if bitcoin were to experience a rapid decline shortly, we could expect things to return to their “bullish” ways by mid-summer. Through the aid of Bitstamp, interest in bitcoin is expected to rise heavily in Europe, and with an entire continent ogling digital currency and eager to get in on the action, we’re likely to witness bitcoin’s price spike again within just a few months.

So let’s not get scared right away. This is merely a minor stumble in a long trek up the financial Everest, and bitcoin hasn’t sprained any ankles as of yet.

Do you predict further falls in bitcoin’s future, or will it pick itself back up soon? Post your comments below!


 

Images courtesy of Dentons, bitcoindoc.com

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Bitcoin Price Blunders, Suffers Decline

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Dub 25

Bitcoin Price Moves Forward: $457 and Rising

Source: bitcoin

Wall Street Bitcoin Price

Since our previous look at the bitcoin price, everybody’s favorite coin has jumped another $14, bringing it to $457. What has once been described as a stagnant, slow and stuck in the middle entity is now rising faster than it has in quite some time, and digital currency enthusiasts are keeping their fingers crossed and hoping things last this way for quite a while.

Also read: Bitcoin Price Enjoys an Impressive Jump, Will it Endure?

Bitcoin Price on the Rise

Presently, the price of bitcoin is described as “bullish,” meaning it’s enduring a steady rise that investors can sink their teeth into. While speculation is anybody’s game, there are a few possible answers as to why bitcoin is moving forward at such a rapid rate.

We’ve mentioned the fact that positive media and a change in ideals towards bitcoin have certainly helped the currency along the way. As cliché is it may sound, nothing’s going to survive as long as it’s being hit with illicit and negative vibes. There’s no room for anything to step in, take the wheel and start heading into the sunset away from the storm…

But the news of Steam’s upcoming integration with bitcoin may have a lot to do with the sudden rise. Segregated Witness also has a lot of people feeling confident and healthy, and capitalists such as Tim Draper believe that the price will allegedly continue to soar over a two-year period, making bitcoin the hot virtual currency of the ages. Men like Draper think that bitcoin investing is just getting started, and the playing field will soon be the largest in the world of modern finance.

Presently, many eyes also find themselves turning towards China. The country has recently experienced a heavy economic downturn, but China has often been regarded as one of bitcoin’s top users, and now that its monetary system is experiencing a period of temporary failure, many are beginning to invest in alternative methods, bitcoin being a prime staple. Investors in China are still fairly limited, but with time, the number is expected to increase heavily.

Finally, there’s the topic of bitcoin halving. At present, every bitcoin block produces about 25 single bitcoins. They are always kept new to prevent liquidity, but things are expected to change in July of this year when bitcoin blocks will purportedly be reduced to 12.5, making bitcoin harder to get one’s hands on. Obviously, something rare or less common is likely to spike in value, and bitcoin is no exception.

With such a positive future ahead, bitcoin’s primary goals of taking over the financial world and rewriting monetary practices as we know them seem to be taking full force. With increased help, bitcoin can finally slide into home without skinning its knees.

What are your thoughts on the bitcoin price rise? Post your comments below!


 

Images courtesy of Salon.com, Shutterstock

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Bitcoin Price Moves Forward: 7 and Rising

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Úno 09

Valve is Bringing Bitcoin to Over 125 Million Steam Users Worldwide

Source: bitcoin

Valve

February 8, 2016 – Several lines found on Steam’s translation servers indicate Valve will be implementing bitcoin payment in their game DRM platform in future versions. They’ll be using the Bitpay API for handling in-store transactions. For privacy and security-minded gamers, as well as those in countries that suffer from region-locking and unfavorable pricing practices, this is a huge value-add.

Also Read: Alibaba to Possibly use Blockchain for Alipay Service

Valve Lays Groundwork for Bitcoin Transactions

Valve is known for their comparatively open and accessible corporate practices — the core design statement of their industry-leading DRM and sales platform is to make buying games easier than piracy. They’ve always been forward thinking regarding developing their services, bringing real gaming support and development to the Linux ecosystem in an industry where open development was considered a  pipe dream (pun most certainly intended.) It comes as no surprise that they’re bringing bitcoin to the gaming mass market before other mainstream DRM platforms are considering it as an option. There are bitcoin game-payment solutions out there, like Green Man, but having inline support for digital currencies is a huge step for bitcoin’s entry into mainstream use.

Bitcoin in Steam means more than just better chances of adoption, which is significant in itself for a currency that was primarily used for illegal transactions and duty-free alpaca socks in its earliest stages of adoption. People in emerging markets will find themselves able to access Steam as an option for gaming, where they previously were limited by a lack of payment provider support and region locking due to fraud risk. For those Gamers using Bitcoin already, it means a more secure way to pay for your games, without having to store your personal info remotely, something Valve has interst has vocally supported in years past. Here’s the full readouts from the Steam translation servers:

bitcoin_authorization_explanation
Bitcoin transactions are authorized through the BitPay website. Click the button below to open a new web browser to initiate the transaction.
bitcoin_payment_tips_header
Tips for Bitcoin customers
bitcoin_payment_tips_text
This process can take up to 60 seconds. To avoid purchasing failures, please do not hit your back button or close the bitpay window before the process is complete.
checkout_payment_method_specific_note_bitcoin
Note: Any approved refunds for purchases made with Bitcoin can only be credited to your Steam Wallet
checkout_receipt_pending_bitcoin_long
Your purchase is currently in progress and is waiting for confirmation of Bitcoin delivery from BitPay. This process can take several minutes to a few days for confirmation. Valve will send an email receipt to you when payment is received for this purchase. During this time you may continue shopping for other games, though you will not be able to re-purchase any products that are pending in this transaction.
checkout_receipt_pending_bitcoin_text
For questions regarding your payment processing status, please contact BitPay [

 

Bitcoin Lends itself to Digital Goods Sales

The move makes a lot of sense from a business standpoint for Valve, too. Low overhead and accessibility reign supreme in mass distribution, so the features associated with Bitcoin payment tie in uniquely with their infrastructure, where the cost of physical shipping is eliminated, putting a larger percentage of overhead on the handling of monetary transactions. Bitpay has much lower fees associated with it than traditional credit card payment processors, and chargeback fraud and user information leaks are a lot less likely if their users adopt Bitcoin. It would not be surprising to see valve incentivise this new service once it’s ready for the release version of the client.

The most recent metric for the number of active Steam users is 125 million. It is currently the largest gaming platform in the world, with more than three times as many users as there are current-gen console owners. If bitcoin garners widespread adoption in this community, other DRM platforms are likely to follow suit, getting Bitcoin one step closer to a cash-like level of acceptance.

 

What do you think of Valve’s practices and acceptance of bitcoin? Make sure to let us know in the comments!


Images courtesy of Bitpay, Valve inc.

The post Valve is Bringing Bitcoin to Over 125 Million Steam Users Worldwide appeared first on Bitcoinist.net.

Valve is Bringing Bitcoin to Over 125 Million Steam Users Worldwide

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