Saturday, July 22, 2017

Coinbase Adds 100k Users in 3 Days, IRS Loses Ground

Coinbase Adds 100k Users in 3 Days, IRS Loses Ground

The Bitcoin and Ethereum wallet provider Coinbase has added 100,000 users in just three days, continuing a record spurt lasting since June.


Coinbase, which has struggled to keep up with demand in recent months, is also making headway in its ongoing legal battle over access to its records for tax purposes.


The latest statistics come courtesy of entrepreneur Alistair Milne, who collected archived website data to reveal the impressive total which runs through June 21.


Full story at http://bit.ly/2uL5aqQ


Source: CoinTelegraph


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Living on Bitcoin in 2017: How Practical Is It?

Living on Bitcoin in 2017: How Practical Is It?

The vast majority of investors in Bitcoin consider it as a safe haven asset, long-term investment and digital gold. But, how practical is it to live on Bitcoin in 2017?


By nature, Bitcoin is a digital currency, described by its creator Satoshi Nakamoto as a digital cash system. Upon the clearance of the Bitcoin mempool, a holding area for unconfirmed transactions, Bitcoin transaction fees decreased to a range of $0.5 to $0.9, and with the activation of Segregated Witness through the BIP 91 activation mechanism, fees are expected to decrease to around $0.1.


The substantial decrease in Bitcoin transaction fees will allow Bitcoin to become more usable as a digital currency, to purchase goods and items both online and offline.


Full story at http://bit.ly/2uLiRWw


Source: CoinTelegraph


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Analyst Who Predicted 1987 Stock Market Crash Predicts Bear Market for Bitcoin and Altcoins

Analyst Who Predicted 1987 Stock Market Crash Predicts Bear Market for Bitcoin and Altcoins

Market analyst Elliott Prechter has projected that digital currencies, particularly Bitcoin, will experience a sharp decline in the near future. Prechter has correctly forecast the surge of Bitcoin in 2010 when the cryptocurrency’s price was just six cents.


In his July 13, 2017 report, Prechter claimed that the Elliott wave pattern, optimistic psychology, and Blockchain bottlenecks will lead to the collapse of the digital currency market.


"The price activity and manic sentiment that led to present prices have dwarfed even the Tulip mania of nearly 400 years ago. The success of Bitcoin has spawned 800-plus clones (altcoins) and counting, most of which are high-tech, pump-and-dump schemes. Nevertheless, investors have eagerly bid them up.”


Previously predicted the stock market crash


Full story at http://bit.ly/2uL6aeu


Source: CoinTelegraph


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Bitcoin, Ethereum Bounce Back Hard To Reach $2,400 and $240

Bitcoin, Ethereum Bounce Back Hard To Reach $2,400 and $240

Bitcoin has rebound to $2,400 and Ethereum is up 25 percent in a day as optimism returns to cryptocurrency markets in a big way.


The shift into the green coincides with reaching the required consensus for BIP 91 to lock in for Bitcoin. This paves the way for SegWit activation without the need for a hard fork.


Meanwhile, Ethereum has recovered spectacularly from last week’s seismic losses, currently trading at an average of $242 according to Coinmarketcap.


Full story at http://bit.ly/2vHijhT


Source: CoinTelegraph


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GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700

GOLDMAN SACHS: Bitcoin is going to test $3,000 and could get as high as $3,700

Bitcoin has held strong support and has its sights set on a test of the $3,000 level, according to Goldman Sachs.


In a note sent out to clients on Monday, Sheba Jafari, the head of technical strategy at the bank, updated her recent chart work on the cryptocurrency.


The $1,856 to $1,790 area "has the potential to act as strong support," Jafari wrote. "All in all, the balance of signals appear to be shifting to a more positive tone."


Jafari's latest note comes two weeks after she predicted the cryptocurrency was setting up for a big drop. At the time of her call, bitcoin was trading near $2,550 a coin. She said that bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." It fell a bit further, putting in a low somewhere between $1,758 or $1,852 (depending on which data you use). Jafari, however, always expected the gains would resume after the correction. And that they have.


Full story at http://read.bi/2uHKNdO


Source: Business Insider Nordic


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