What is Bitcoin?
Like paper money and gold before it, bitcoin is a currency that allows parties to exchange value. Unlike its predecessors, bitcoin is digital and decentralized. For the first time in history, people can exchange value without intermediaries which translates to greater control of funds and lower fees.
Why use it?
You use bitcoin for many of the same reasons you opt to send an email, stream a movie, or download a song. It’s faster, cheaper, more secure and immutable. And its uses extend beyond the peer to peer payments. In many places, bitcoin is less volatile than the local currency so some use it to store value while others use it to consume at hundreds of thousands of vendors across the globe and online.
💡Russian Economic Development Minister Calls Bitcoin Worse Than Casinos
💰💥Russia moves quickly in its push against Bitcoin and other decentralised currencies, as it first issued a ban on access to exchanges, then followed that up with a state-mandated currency.
This play is to seemingly control the burgeoning cryptocurrency market within its state borders, allowing the government to be in charge of digital currencies and of course to tax them.
The Russian regulatory model is one that is seemingly not against digital currencies, but against ones that are decentralized and not controlled by powerful officials. This has in turn seen more and more of those at the top in Russia come out and slander Bitcoin.
Russia’s Economic Development Minister, Maksim Oreskin, has said that Bitcoin is no better than casinos.
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Markets Update: Bitcoin’s Pre-Fork Price Rollercoaster Begins. Bitcoin markets tumbled during the early hours of October 18 dropping roughly 6-7 percent to a low of $5,101 per token. Bullish optimism seemed to be stepping off to the sideline today as the decentralized currency struggled to capture the $5,640 zone again. Bitcoin Markets See Some Short-Term Sell-Off
Bitcoin markets had a bit of sell-off today, as the currency has dropped from yesterday’s high of $5,640 to a low of $5,101 per BTC. At press time the value has rebounded as the price per bitcoin is hovering slightly above the $5,600 range, with around $2.3B in 24-hour global trade volume. At the moment, buyers seem to be waiting for better positions as the sell-off might not last, and the uptrend may pick up again in the short term. Surpassing the $6K range is still the ‘talk of the town’ among traders, and even though two forks are approaching, these traders are still optimistic. Today, bitcoin markets might stick around its current territory and consolidate between the $5,580-$5,650 zone; unless further support breaks down when #Japanese markets open. #Japan is still dominating the world’s trade volume at 57 percent with the U.S. trailing slightly behind. South Korean bitcoin markets are still red hot as this region is currently capturing the third highest BTC trade volume. This week’s top five exchanges by volume are Bitfinex, Bithumb, Bitflyer, Hitbtc, and Bitstamp. The top five exchanges command over $652M worth of bitcoin trade volumes, or 121908 BTC swapped over the past 24-hours. The price has broken key levels of support below the $5,150 range earlier today, but we are looking to see if it drops below the $5,100 zone which could lead a more substantial sell-off. #bitcoin#bitcoins#bitcoinnews#bitcoinmining#BitcoinBillionaire#bitcoinprice#bitcointechnology#bitcoinacceptedhere#bitcoincasino#bitcoinexchange#BitcoinMillionaires#bitcoincharts#freebitcoin#bitcoiner#mrBitcoinZ#bitcoinsallday#bitcoinph#bitcoinguru#bitcoinagile#surbitcoin#bitcoinvalue#bitcointrading#bitcoinmanagement#freebitcoins#bitcoinart#bitcoinprogress#EducandosobreelBitcoin#bitcoinEngland