There has been a lot of talk regarding the digitization of money in the past few months. Those plans became even more viable once the announcement was made by Safe.Cash regarding the digital Euro tokens coming our way in 2016. Bitcoin offers a lot of potential to be used as an activist tool, but will these digital fiat currencies offer the same functionality?
A lot of people still struggle with the concept of how traditional fiat currency is “centralized”, and digital currencies like Bitcoin are “decentralized”. Without properly understanding what these terms mean, there is no way for everyday consumers to see the benefits of either option. A recent infographic released by HolyTransaction might bring some clarity.
Most everyday consumers are wary of Bitcoin because its price has turned out to be quite volatile. While this statement is true for the most part, Bitcoin is far from the only currency in existence that is suffering from a volatile price. Nearly every fiat currency, precious metal, digital asset, or anything issued by a bank or government is constantly fluctuating in price as well. Anyone in the world can openly track the Bitcoin price, and see which part of the world is influencing it.
Make sure to read: ABN Amro’s Arjan van Os: “Bitcoin is Ancient History To Us.”
When federal agents brought down the Silk Road platform, many people in the Bitcoin space hoped that using this disruptive digital currency for drug trafficking would slowly come to an end. Unfortunately, it turns out that is not the case; online drugs sales are still on the rise and pseudonymous and anonymous payment, such as Bitcoin, are still very popular in that market.
Silk Road Shut Down
Silk Road will always remain a bit of a black page in the Bitcoin history books. While the idea of an open and free peer-to-peer marketplace sounds great, there is always someone trying to use it for nefarious activities. Or, in the case of Silk Road, it became mainly used for illegal activities such as drug trafficking and other goods and services that shouldn’t see the light of day.
As I mentioned in our “Bitcoin Flash Crash” article yesterday, the end was not in sight just yet, and it turned out the Bitcoin price kept going up and down throughout the day on all major fiat currency exchanges. This morning however, it might seem like things have stabilized, but I wouldn’t get your hopes up just yet.
All Fiat Currency Markets In The Green
Yesterday was a slaughterhouse for all Bitcoin/fiat currency trading markets on each and every exchange. In fact, the 24-hour differences were as high as minus 10% for the first time, and prices plummeted to the US$166 mark for the first time since early 2013. Many Bitcoin enthusiasts had to rethink their position in the cryptocurrency world, creating even more panic selling across the world.
More and more partnerships are being formed in the Bitcoin and digital currency space, and now EgoPay has been added as a payment method to Huobi Holding Companies’ BitYes. This partnership is another notch in the belt for Bitcoin adoption and accessibility.
For those of you who have not heard of EgoPay yet, allow me to tell you a bit more about this company. EgoPay is a global payment processor which allows for easy transfer of funds to friend or family, fund Forex or cryptocurrency account , shop online and lots and lots more.
If you have been paying close attention to this website, you will recall the article about Danish-based exchange CCEDK adding BlackCoin to their trading markets. While we took a look from CCEDK’s perspective, we should also take a closer look at what this means for BlackCoin and their community.
One of the things about BlackCoin which has always impressed me, is how they keep pushing forward on a daily basis. Not just by making the coin technologically superior to other altcoins, and even lifting themselves to the “Cryptocurrency 2.0” status, but also in regards to attracting new members and investors.
Big waves are being made in the world of cryptocurrency, as Danish exchange CCEDK is looking to add BlackCoin to their exchange offerings. As this is a big step for both CCEDK and BlackCoin, we could be witnessing history in the making.
CCEDK is the first Danish online exchange for cryptocurrencies such as Bitcoin and NXT among others. Ronny Boesing, CEO of CCEDK, has had an impressive career so far. During 25 years of distributing and publishing CDs and DVDs to games and other digital products, his customer base spanned 65 countries in 5 continents. The reason for his success is simple :
Even though I have been involved in the cryptocurrency world since 2011, and started getting interested in altcoins 2 years ago, I’m still baffled by the lack of altcoin-related articles on the internet. More specifically, the lack of articles about URO, as no one seems to be willing to talk about this coin. Well, we do, and we have some interesting news.
Some of us already knew we would see a platform to exchange Uro & Bitcoin to fiat currencies down the line. What we didn’t know was when it would be released. Apparently we are less than a month away from UROEX being launched.
The BritCoin developers have delivered some amazing news this past week, as their Britcoin/fiat exchange has now been completed. Even though a lot of us assumed this altcoin started off as a joke things are getting rather serious. Let’s take a look!
It was announced quite a while ago that we would be able to purchase BritCoin with fiat currency in a relatively easy way. As it was unclear at that point as to which payment methods would be accepted, we all eagerly awaited more news.
It has been quite a good week for NobleCoin enthusiasts. In case you missed the big breaking news, do not despair, as I will gladly tell you all about it. Did you know that NobleCoin has been added to Vault of Satoshi?
For those of you who are unaware of what Vault of Satoshi actually does, allow me to explain. A lot of people want to purchase various cryptocurrencies with fiat (USD, EUR, GBP, etc). Unfortunately, that’s still rather hard for coins that are not Bitcoin or LiteCoin.
Anyone with more than 3 peas for a brain should know by now that accepting Bitcoin payments is best for business.
We have seen it proven by bigger companies as well : Chicago Sun-Times has a 11% increase in subscribers, TigerDirect & Overstock are receiving extra orders worth several hundreds of thousands US Dollars,…..
Yet a lot of companies are still hesitant , or even refusing, to work with Bitcoin because of its volatile nature when it comes to the fiat value. Understandably so, as you don’t want to make a loss when selling a product to someone. Playing it safe, sure, go ahead.