Do you remember our last article on Bitcoin? It was right after Silk Road has fallen and the BTC dropped suddenly 20% because it has lost some demand. But the story didn’t stop here. This digital currency became of interest for speculators when Cyprus was in a really big problem. The instability of the economy increases the demand for the BTC. After Silk Road we said that it might go sideways and eventually down. But it was the other way around. After several days the US government announced … [Read more...]
Silk Road Out, Bitcoin Down 20%
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Ross Ulbricht, 29, was arrested today by the FBI, as the head of the Silk Road. The website was an anonymous Internet marketplace known for illegal buying of drugs and phony identification documents. Silk Road was active from January 2011 to September 2013. Its users and transactions should have been untraceable and for this the payment on the website was done with Bitcoins. The digital currency is anonymous and can be easily turned into real money. When the FBI held Ross they also have … [Read more...]
Bitcoin (BTCUSD) Consolidated in a Symmetrical Triangle
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We haven’t touched the Bitcoin subject for a while now, this instrument that became of interest for speculators after the incident with Cyprus seems to react something like a safe heaven. When the markets are undecided or the risk aversion takes its place in trading the Bitcoin is bought. Chart: BTCUSD, H4 From the beginning of July the price for Bitcoin in dollars has moved in a pretty clear up trend. In September the line of the trend was breached and a channel has formed. The … [Read more...]
Bitcoin, a safe heaven or a speculative bubble? Part II
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Bitcoin Users Are Not Regulated But Exchanges Are One of the most debated issue related to the bitcoin refers to the anonymity of the transactions. Are them really safe or is just a myth? Considering that this is one of the biggest advantages that the internet reveals about the new digital currency, I consider it worth our attention. The short answer is no, the transactions are not anonymous. A proper word to be used in this situation would be pseudonym. A longer answer is given by Fergal … [Read more...]
Bitcoin, a safe heaven or a speculative bubble? Part I
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Many of you may have heard about bitcoins but not as many used them. This article is aimed to give you an idea about what bitcoins are and whether you should use them or not. The Bitcoin or BTC is an e-cash system created by Satoshi Nakamoto which is the name of the group of people who invented this system in 2008 and made it public in 2009. A bitcoin unit is divided down into 8 decimal places thus the smallest amount of a bitcoin unit equals to 0.00000001 satoshi. The bitcoin or the … [Read more...]
