Lis 16

Ron Paul Survey: Half Would Choose Bitcoin For 10 Year Investment

Most people would choose to invest in Bitcoin over gold, fiat currency, and bonds, according to a survey by Ron Paul which continues on Twitter November 16.

Bitcoin Is Best Future-proof Investment

The former US lawmaker and presidential candidate, well known for his advocacy of the cryptocurrency, has so far yielded responses from over 58,000 people. Almost half of them would want to invest in Bitcoin.

Traditionally much larger than in-person surveys, such as those recently conducted in the UK and Russia which also showed strong popularity for Bitcoin, Twitter polls nonetheless cater to social media’s active cryptocurrency community.

Paul added the proviso that an investment must remain untouched until 2028, suggesting faith among respondents over Bitcoin’s longer-term future has not deflated with this year’s prices.

The survey reads:

A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift. But there’s a catch: You must keep the gift in the form that you choose for 10 years without touching it. In which form would you accept the gift?

Bitcoin Criticism Backfires

At press time, 49 percent of 58,131 had voted for Bitcoin 00, followed by 39 percent for gold. Just 2 percent would choose cash US dollars.

Paul’s timing provides a sharp contrast with the cryptocurrency naysayers who continue to pour cold water on the market’s chances in the midst of this week’s fresh price downturn.

A speech by the European Central Bank board member Benoît Cœuré Thursday described Bitcoin as an “extremely clever idea” but added that “sadly, not every clever idea is a good idea.”

In an ironic twist, a Bitcoin analyst’s rebuttal on Twitter garnered more support in the form of likes than the original comment.

At the same time, economist Nouriel Roubini capitalized on BTC/USD’s fall below $5,500, reiterating his belief the pair “belongs” at “zero.”

What do you think about Ron Paul’s Bitcoin survey? Let us know in the comments below!

Images courtesy of Shutterstock, Twitter

Úno 19

Bitcoin TX Volume Up 55% as Grexit Looms Again

· February 19, 2017 · 7:00 am

Bitcoin’s transaction volume for 2017 has increased 55% as optimism and dissatisfaction with fiat alternatives fuel investment and trading.

Bitcoin’s Sustainable Growth

Figures republished by ARK Invest’s product lead Chris Burniske show impressive yet sustained growth in volume compared to the 2015-16 jump of 118%.

“…This is transactional volume using (bitcoin) as a means of exchange, very different from trading volume within exchanges,” he noted.

Aside from the repercussions of China’s regulatory shake-ups, there is now a growing number of countries worldwide where deep-seated problems with fiat are driving uptake of Bitcoin as a safe haven investment or transaction method.

Venezuela, India, and Mexico have all made the headlines in recent months, and now a fresh Greek debt crisis is leading commentators to suggest that country’s disgruntled citizens could soon join them in the rush for Bitcoin.

Demand Outweighs Supply

At the same time, Burniske notes the consequences of Bitcoin’s annual rate of supply inflation dropping to 4% last summer may only now be showing.

He quoted entrepreneur and investor Alistair Milne, who tweeted earlier Saturday that “it seems possible that for the first time in its history, Bitcoin’s daily mined supply can no longer meet the demand from new users.”

Demand outpacing supply is music to the ears of the endless investors, Milne also noting major US exchange Coinbase had achieved 300,000 new user signups in the past 15 days. In fact, Coinbase total accounts will soon hit 6 million according to their stats:coinbase

Greece Buzzword Again

All eyes meanwhile will be on Greece Monday as representatives gather with the European Central Bank and International Monetary Fund, ostensibly as Greece pays back €7.5 billion as part of a previously agreed debt arrangement.

However, renewed warning signs from the country’s government suggest that not only is Greece unwilling to repay on time, but may also run out of cash completely by July, thus defaulting on the remainder of its €31.7 EU bailout.


Nonetheless, it is likely the IMF will contribute to a further €5 billion loan as an interim measure, with a spokesperson telling Reuters, “We will not comment on speculation. The Fund’s position is well known and hasn’t changed.”

So too, it appears, is the opinion of currency speculators and others perceptibly affected by any jitters from Greece.

“Foreseen financial troubles in Greece and Italy could also shore up demand for the cryptocurrency in the coming weeks,” FXDailyReport’s forecast for Thursday reads.

What do you think about Bitcoin’s growth this year? Let us know in the comments below!

Images courtesy of Shutterstock, Twitter, Coinbase

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Úno 15

AirTM Currency Conversion Success Hinges on Bitcoin Integration

Source: bitcoin

Bitcoinist_Currency Conversion

Growing a Bitcoin exchange or brokerage service is not an easy task, as there is a lot of competition in this niche market right now. Furthermore, there are plenty of consumers who are not looking at Bitcoin as a solution to their financial problems just yet. But neither of these factors is keeping AirTM from becoming a big success. This service built on top of Uphold’s cloud money platform make it easy for consumers to convert in and out of Bitcoin.

Also read: Jamie Dimon: Bitcoin Doomed While Blockchain Is for Real

AirTM Powers Cloud-based Currency Conversions

What makes the services provided by AirTM, so appealing is how they work with local cashiers in various regions, which help clients deposit and withdraw local currency. For example, it is possible to send Chinese Yuan to an AirTM cashier via bank transfer and have them convert it to US Dollars, which are then deposited into the client’s account.

Some people might be wondering how this principle is possible, as it requires cooperation by banks and other financial players. Bitcoin holds the answer to all of the questions, as the popular digital currency is used to convert funds to US Dollar through the Uphold platform. This funds is then used to fund AirTM cashier accounts and service clients looking to convert currency.

Most people who make use of such an AirTM cashier are not even exposed to the Bitcoin factor, as all they see, is local currency going in and foreign currency appearing in their account. While this method should be heralded and applauded by the Bitcoin community, AirTM deliberately remained quiet on using this technology when dealing with customers. After all, there is a fair amount of bias in regards to Bitcoin services, even if they use the digital currency to convert between fiat currencies.

Bitcoin can serve as a great tool to provide financial services to the unbanked, but AirTM is using the digital currency for a different purpose. By embracing Bitcoin, the company can offer a digitized US Dollar to its customers, which is subject to a far larger addressable market than digital currency – for now, at least.

Using Bitcoin Without Advertising It

While some people might disagree with the business strategy employed by AirTM, the company is seeing tremendous success from using Bitcoin. Granted, they are not advertising the involvement of digital currency by any means, yet their entire business runs on top of Bitcoin.

This strategy seems to be work quite well, especially when considering how the concept of Bitcoin is too volatile for most everyday consumers and businesses. Right now, there is a growing demand for various currency exchange solutions, and Bitcoin provides companies such as AirTM with the functionality to offer these conversions on the fly.

The connection with Uphold is of great importance as well, considering how the latter has no ties with the financial infrastructure in most of the countries where AirTM operates. Exchanging local currency to US Dollar can be a major hassle in some of these regions, and Bitcoin – unknowingly – provides them a way out.

What are your thoughts on the service provided by AirTM? Is this a great way to showcase Bitcoin’s strengths/ Let us know in the comments below!

Source: Medium

Images courtesy of Shutterstock, AirTM

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AirTM Currency Conversion Success Hinges on Bitcoin Integration

Led 19

Local Apple App Store Pricing Changes Show Why Bitcoin is The Only Global Currency

Source: bitcoin

Bitcoinist_Bitcoin Global Currency

There are multiple signals that our current global financial structure is not working optimally, and the recent price restructuring by Apple is yet another indication of why things need to change soon.  App store prices will go up in seven countries around the world, as tech giant Apple needs to account for volatile exchange rate changes in the affected regions. Bitcoin remains the only global currency in existence today where the playing field is even for anyone in the world.

Also read: Cryptsy Announces 1000 BTC Reward for Stolen Coins

App Store Price Increase Due To Volatile Financial Markets

Similar to nearly every type of business in the world, an online application store – such as the one run by Apple – needs to adjust its pricing now and then. In most cases, the prices for applications are set by the developers themselves, and Apple will just take a cut from every transaction made on their platform.

However, this App Store price change is quite different from the rest, as the volatile financial markets are to blame for more expensive apps and games. Apple has established a global presence with their App Store, although a lot of the foreign currency transactions will need to be converted to other instruments, such as the US Dollar.

Due to high volatility in certain markets, Apple is forced to up the pricing, as the country does not want to risk losing any of its profits during the process. It is not the first Apple makes such a drastic change, though, as the company has upped prices in 10 different countries over the past few months.

Among the affected countries are Canada, Russia, Israel, and Mexico. Apple users living in those countries – or in Singapore, South Africa, and New Zealand – have slightly under 72 hours left to make any App Store purchases at the normal price. Once that period has elapsed, prices will be inflated artificially to cover change in the value of these traditional currencies.

Furthermore, customers who have an ongoing subscription for any of the games, apps, or services offered by the Apple App store, will see prices increasing as well. Before that happens, they will be notified by Apple via an email, however. The world of traditional finance is far less stable than most people would like to believe, and Bitcoin presents a welcome alternative for the [near] future.

Why Apple Needs To Start Working With Bitcoin Payments

While it is true Bitcoin has seen its fair share of volatility, there is still a good reason for Apple to use the popular digital currency as a payment method for their App Store. Bitcoin is a global payment method and a change in the Bitcoin price would affect all customers in the world in the same manner. A change in local fiat currency affects a specific part of the population, which is not fair by any means.

Furthermore, by using Bitcoin, Apple would be able to let the prices adjust automatically, as third-party payment processors will provide the exchange rate at any given moment. No further manual intervention would be needed in the App Store, allowing more people to work on future innovation for the tech giant. In the end, everybody will win when using Bitcoin.

What are your thoughts on these local price changes in the App Store? Will Bitcoin provide a more stable alternative in this regard? Let us know in the comments below!

Source: Tech Radar

Images courtesy of Shutterstock, Apple

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Local Apple App Store Pricing Changes Show Why Bitcoin is The Only Global Currency

Led 11

Bitcoin Remains Stable As South African Rand Loses Value

Source: bitcoin

Bitcoin Remains Stable As South African Rand Loses Value

The world economy is still feeling the effects of turmoil originating from China, where the markets are still in chaos and investors are looking to liquidate assets at an alarming rate. As a result of this panic, other currencies are being affected as well, as it all comes down to finding a market with some liquidity. South Africa’s rand felt the brunt of that effect, as the currency lost a fair bit of value against the US Dollar. Bitcoin, on the other hand, kept a steady course.

Also read: The Bitcoin Foundation Unveils 2016 Plan, Might Shut Down Instead

Chinese Turmoil Causes Rand Drop

Similar to nearly every fiat currency in the world, the South African rand has its value tied with the US Dollar. Considering how the US Dollar is the main trading currency for every other currency out there, this is also the one market where traders should be able to find some type of liquidity at all times.

Speaking of trading liquidity, this will not be provided by the Chinese markets anytime soon. With the stock markets being closed early twice last week, and further devaluing of the Yuan being very likely, it will be hard to get rid of those assets at a decent price. Investors and traders are forced to liquidate some of their other assets to make up for those losses.

By going after the South African rand, investors active in the trading ecosystem exposed yet another fatal flaw in our financial world: currencies can lose up to 10% of their value in a heartbeat. Not because the rand is a weak currency, by any means, but simply because a group of investors decided to liquidate their holdings in favor of the US Dollar.

In fact, it looks like Japanese investors are responsible for a large part of this trend, as they have to exchange their rand for US Dollars and then convert those to Japanese yen. Regardless of who is responsible, this is not a good sign for the South African economy by any means, as losing 10% overnight is an incredibly steep margin.

As one would come to expect from such a price crash, the Japanese yen saw a major surge in value, and the US Dollar lost some of its momentum on the charts. However, this does not affect the US Dollar as badly as it could have, considering how it is still on the right track to reach parity with the Euro at some point.

Bitcoin Holds Its Ground Despite Worldwide Fiat Woes

These days, hardly anyone will be surprised to hear none of these fiat currency woes are affecting the Bitcoin price all that much. While there is a minor downward trend on the charts during the morning hours, the popular digital currency is firmly holding ground around the US$440 mark.

Slowly but surely, investors are starting to see the real value of Bitcoin, rather than looking at things from a speculative angle. Bitcoin has proven to be far more stable than any currency in existence as of late, and that trend looks to continue for the foreseeable future.

What are your thoughts on the South African rand value drop? Which currency will be next in line for a downward trend? Let us know in the comments below!

Source: Reuters

Images courtesy of Shutterstock, Lipstick Alley

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Bitcoin Remains Stable As South African Rand Loses Value