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20% Of UK Residents Think that Bitcoin Will ‘Inevitably’ Be As Common As Cash

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A new survey by YouGov which is a global data and research firm serving industries, governments and people in different ways – has emerged in the crypto section of our DC Forecasts Bitcoin news site – showing the interest about Bitcoin in the United Kingdom.

According to the research, people in the United Kingdom are aware of Bitcoin (93%) and only 4% of them claimed to understand the most dominant cryptocurrency very well. Almost six times that many claimed to understand it “fairly well” and what was interesting is the fact that more and more young people are aware of and interested in Bitcoin.

About one in six people over the age of 55 claimed to understand Bitcoin fairly well, while 20% of the people believe that Bitcoin will inevitably be “as common as cash or card” as the survey notes.

Another interesting figure is the 6% of all men polled – who said that they had invested in Bitcoin before – and 1% of women that had purchased Bitcoin. This group was overwhelmingly aged 18-24 which proves that the age of digital currency gives birth to a new type of investors, the “young” ones.

The YouGov researchers also highlighted that about 87% of the respondents were neutral or negative on the subject of non-bank currency. The largest group of 25% answered that they were neutral on the subject while another (18%) said they were not sure how to answer that.

 

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Crypto Startups Should Go All-In On Blockchain: Expert Opinon

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Crypto startups need to focus on the blockchain rather than bitcoin according to Bernhard Schroeder, the managing director of entrepreneur programs at San Diego State. According to our coming altcoin news, Schroeder classified bitcoin as a ‘’speculative investment.’’ He believes that bitcoin might not work out in long-term but says blockchain is a ‘’serious technology.’’ Schroeder believes that the blockchain technology has a lot of potentials that will emerge from the companies who want to build on it. Companies who failed during the ICO boom in 2017 should now follow four areas that entrepreneurs should look. Also, investors and industries should get exposure to blockchain technology according to Schroeder:
 “So why should you as an entrepreneur or investor care more about blockchain than Bitcoin? Bitcoin is still a speculation on a future crypto currency that the world may not yet adopt. Maybe in the future, maybe not. But blockchain is a serious technology that can provide a variety of solutions. Imagine you are an automotive manufacturer and you have a product quality problem. Rather than recall thousands or millions of cars, you can simply recall the cars whose part is potentially defective based on blockchain identification and tracking.”
The areas that the crypto startups should follow include digital rights management, tokenizing other assets, customer rewards programs and digitizing real estate. Of course, there are more uses cases for blockchain technology but he believes those are the most important areas. Schroeder focuses mostly on those because he believes they have the most potential. Following the reports in the best cryptocurrency news sites, a huge number of companies are tackling digital rights management via blockchain. For example, BitTorrent’s cryptocurrency is one example of how to handle that. The holders of the coin will be able to use it to purchase content directly from its creator. Schroeder makes a valid point that people are too close to cryptocurrencies and usually get burned. This is why he stated:
 “In the 1800’s it was not always the gold miners who thrived. But the people who sold picks and shovels did. In the early days of the internet, it was not the multitude of startups that were rewarded. Most failed. But the builders of web infrastructure and internet technology thrived. Don’t confuse the adoption of Bitcoin as a digital currency with the enormous potential for blockchain technology.”
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Bitcoin In Myanmar No More: CBM Sees It As Liability

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Bitcoin in Myanmar no more after the Central Bank of Myanmar announced that it doesn’t recognize bitcoin as money. Following the coming altcoin news, CBM considers the number one cryptocurrency as a liability rather than an opportunity. Myanmar is a developing country that is now considering shutting its doors down for bitcoin merely because it poses a threat to the central bank. Bitcoin proposes to replace banks with an improved decentralized network of transaction validators. This means that everyone with an internet connection can join the bitcoin economy and participate in global economies. But, the Central Bank of Myanmar stated previously that it would not allow Myanmarese Financial Institutions to accept or to facilitate transactions conducted with Bitcoin. The same rule applies to all other cryptocurrencies with similar properties. According to reports, Myanmarese investors are increasing their stakes in bitcoin despite the bad news. Local ads for bitcoin exchanges are still increasing and this shows that more people are looking to hop on the bitcoin bandwagon. CBM fears that this process can flush out a large part of the capital from Myanmar’s market to the industry in other countries which is the main reason why the bank is discouraging people from investing and therefore to make no more bitcoin available in the country. An IT professional Aung Aung who works at the Yangon Company pointed out for the latest cryptocurrency news that the people in the country face a lot of restrictions on banking. He admitted that he purchased about $20 worth of BTC in 2017 since he found that the cryptocurrency is perfect for conducting flawless ‘’global e-commerce and aid.’’ There are thousands of people in Myanmar who got into bitcoin for the same reasons Aung did. The bitcoin frenzy began in 2017 when the market valuation jumped up to $313.89 billion which five times more than the current GDP of Myanmar. The downside correction in 2018 brought the rates of Bitcoin to go down by 85 percent. The market now stands close to the $144 billion and there is a huge interest from institutional players. CBM now has two options: restrict people from investing in bitcoin or make Myanmar the perfect crypto-hub such as Japan or Switzerland. The chief executive of the digital commerce platform Get Myanmar pointed out:
 “Before making crypto illegal, its impact on the local currency and compatibility with existing policies should first be analyzed and discussed.’’
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Bitcoin Trader From India Takes His Life After Losing His Investment

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Bitcoin trader from India’s Gujarat State took his own life after he lost his investment that he made on behalf of a senior police officer, according to the latest cryptocurrency news coming from India. According to the reports, Bharat Patel hanged himself on Sunday after the deputy superintendent of police Chirag Savani and his elder brother Harnish Savani pressured him to compensate them the losses they incurred after they put all of their money in Bitcoin. In the suicide note, Patel pointed out that he invested money that belonged to the brothers in Bitcoin. The senior police officer invested previously a huge amount of bitcoin but when the price declined, the two brothers wanted more than they initially invested. An excerpt from his note says:
 “DySP [Deputy Superintendent of Police] had come to my house to invest in five bitcoins. After incurring a loss due to slide in their value, Chirag and his brother Montu were demanding 11.575 bitcoins. I am distraught due to the recovery they are claiming. My life is not worth living. DySP Chirag Savani came to my house and threatened me to return the amount they had invested. I have been forced to commit suicide. The two brothers are responsible for my act.”
The brothers demanded more than double of the bitcoin they invested as compensation. At the current prices, 11 bitcoin is worth about $92,000. According to Patel’s wife Usha, the bitcoin trader from India tried to reason with the brothers and make them accept the payment in installments. However, they wanted cash. Both of the brothers were demanding interest on the payment but the suicide note did not reveal the rate. After the slump of the crypto prices, the suicide rate became a huge issue in the sector. There has been a number of deaths related to suicide after losing an investment made in bitcoin. This is not surprising since this happens in the traditional financial markets as well. Suicides tend to grow when the market crashes. According to research that we read in the best cryptocurrency news sites, about 6,000 suicides are linked to the market crash especially the one ten years ago.
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Tom Lee Thinks That Bitcoin’s $8,000 Upswing Confirms End Of Crypto Winter

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There is no doubt that Bitcoin is in the latest cryptocurrency news as the most dominant coin. Since the beginning of this month, BTC has almost doubled and Tom Lee thinks that the recent rallies prove that the crypto winter is finally over. As the ice appears to have melted, many industry analysts are convinced that it is now definitely over. The Fundstrat Global Advisors' Bitcoin bull Thomas Lee was featured on many best cryptocurrency news sites after tweeting his thirteen reasons why the crypto winter is now over. Tom Lee also stated what he described as a 'disturbing pullback to $6,200' and how the return to $8,000 for Bitcoin was confirmation that the trend is intact. While some of the reasons that Lee shared have more weight than others, he also said that the Bitcoin Cash was has had a lot of effect on the Bitcoin price over the winter. Next, he observed Grayscale's Bitcoin Trust which NAV premium fell to 5% in 2017 but has since surged by 41%. Over the counter volumes (OTC) have also started surging and a lot of brokers are reporting new client activity which shows a 60% to 70% more positive activity compared to levels from four months ago. There was also speculation that US President Trump's escalated trade war with China spurred buyers into loading up on Bitcoin as a safe store of value. Tom Lee believes that the 'golden cross' in late April was a major technical indicator that the trend has reversed. The altcoin news showed a positive action too - following the Binance hack which confirmed major confidence in crypto markets. Finally, this month's Consensys crypto conference proved that the crypto winter is over - as Tom Lee said. https://twitter.com/fundstrat/status/1130088055384215553 While referencing to the past week performance and the massive candle with surges of 13% and upwards (for Bitcoin alone), Tom Lee also added:
“Hell of a bullish weekly close on #Bitcoin with near record breaking volume, solidifying the strength and validity of this rally.”
Right now, Bitcoin looks like it is retracing below $8,000. However, this may be a short correction before a new upswing. Its dominance now sits at 57% and the total market cap is $244 billion.
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