Virgin Galactic is one of the leaders in Space Exploration and Travel. The brainchild of Richard Branson, Virgin Galactic has enjoyed increased media attention as the stock skyrockets.
Branson has announced that future space travel may be paid for with Bitcoin. The well known entrepreneur admits to investing in Bitcoin years ago. The Virgin Galactic Stock has increased in value almost 300% during the past 90 days. Perhaps space travel is the last frontier or maybe that better describes Bitcoin.
Both Steem and Tron remain in the top ten of the most active blockchains. This report is a weekly compilation of the average number of transactions over a 24 hour period.
EOS is ranked number one. Steem is ranked number 7 in blockchain activity. Tron is ranked number 5.
Bitcoin remains in the number 10 position.
Steem Price Jumps 13%
Steem price jumped over 13% during the past 24 hours. The price of Steem rose to over 22 cents. The market overall enjoyed a bullish streak. EOS was up over 8%. Bitcoin broke the $10,000 barrier with a rise of over 4%. Cardano is also up over 4%. BAT which is used in the Brave Browser enjoyed an increase of over 14% reaching a price of over 29 cents.
Many in the crypto community looked forward to the creation of BAKKT for years. We all heard how the mere existence of BAKKT would flood the Bitcoin market with institutional investors. In simple terms, BAKKT is a platform that offers a regulated trading environment for Bitcoin and Bitcoin futures. The platform may be used through already well known exchanges, so some of the fear of the unknown of Bitcoin is alleviated.
While the effect of BAKKT came much slower than many would have liked. I do think we are seeing a mainstreaming of Bitcoin investment from traditional institutions that we would have not seen otherwise. Remember, only a few years ago many traditional financial institutions spoke of Bitcoin as some sort of dark money from the dark web bound to be used for illicit purposes. Think about how much that has changed in just a few years.
I like to take that thought a few steeps further and imagine altcoins enjoying the same attention that Bitcoin attracts. While that may seem unlikely now, I take heart in remembering that not so long ago Bitcoin was considered some sort of scam.
As Bitcoin prices broke the $9000 mark, Twitter was ripe with the usual speculation concerning the cause and effect of the recent increase in Bitcoin price.
Some Twitter users even suggested that the outbreak of the Coronavirus in China may have caused the increase in Bitcoin price. While the price of cryptocurrency often rises during a period of crisis and uncertainty, I think the probable slowing of the Chinese economy due to the outbreak may actually have the opposite effect on the price of Bitcoin.
The US Patent office issued a new patent on Tuesday which may attract more consumers to cryptocurrency. Square, the popular payment provider was issued a patent which will make crypto to fiat transactions without some of the negative aspects currently associated with these types of transactions. In essence, the technology will enable a consumer to pay in any currency they choose and the merchant will be paid in the asset they prefer. For instance, I will be able to use the payment system to pay with Bitcoin and the merchant can choose to accept that payment in dollars.
The benefit of the new technology is that the transactions will occur instantly so that the waiting time for both consumers and merchants is zero. This technology will eliminate some of the problems of using cryptocurrency including volatile crypto prices and slow transaction times.
As this type of technology becomes more available, I think we will see a huge surge in the number of people actually using crypto on a daily basis.
Saying Peter Schiff is no fan of Bitcoin is a bit of an understatement. Peter has made his disdain for Bitcoin known on Twitter and other social media venues. As if the “Bitcoin gods” have heard, Peter is now having a problem with his Bitcoin Wallet password. He swears he remembers the password and that the fault falls entirely on the “technology of Bitcoin”.
Twitter users were ridiculing Schiff for admitting his password was one he used on many other sites and Twitter continued to revel in his misfortune. The phrase “OK Boomer” seemed to sum up the attitude of most crypto enthusiast who took to Twitter to defend Bitcoin.
Like an Angel from above, the folks from Blockchain.com (the Wallet Schiff was using) used Twitter to inform Mr. Schiff that his funds were intact and that they would be contacting him via private message to remedy the situation.
In all fairness, we can all relate to Schiff. Who has not had a moment of terror over forgotten passwords or misplaced keys? Adding a note of irony, Schiff may have just provided Blockchain.com with the best advertising money can buy.
When electricity is in ample supply during the rainy season, Chinese authorities often overlook the activities of Bitcoin miners in Southwest China. Local authorities have become more strict due to the drop in the electricity supply which occurs during the dry season ( October to April).
Many mining companies have been warned to scale down the mining operations during these months. Some companies have faced large fines in an effort to force compliance.
Reports of Germans rushing to buy gold may be a strong case in favor of cryptocurrency. Pending legislation in Germany threatens to lower the amount of Gold which may be purchased anonymously. This limit was already lowered in 2017 and as of mid January may be lowered once again.
Increased regulations should inspire more people to at least learn more about cryptocurrency. Will these limitations result in an increase in Bitcoin purchases?
Binance.US opened it’s doors in September of 2019. The popular exchange has now announced the beta testing for their new IOS app. The announcement was made on Twitter. Beta testing will allow Binance to explore any possible bugs as well as fixes before making the app available to everyone.
Binance.US has also announced that the exchange may offer users the ability to purchase cryptocurrency directly using a debit card. This on ramp for cryptocurrency directly from the dollar should attract new users who may have been turned off by the laborious task of buying and transferring cryptocurrency from the most well known on ramp, Coinbase. Those interested in the beta testing may contact Binance through their Twitter account.