A BITCOIN to be WORTH $500,000 – $1MILLION USD Within 10 Years Says BITCOIN WALLET CEO

By July 23, 2014Bitcoin Business
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A BITCOIN to be WORTH $500,000 - $1MILLION USD Within 10 Years Says BITCOIN WALLET CEO


A BITCOIN to be WORTH $500,000 - $1MILLION USD Within 10 Years Says BITCOIN WALLET CEO

One of the two exchanges, Shenzhen-based BTC38, is discontinuing bank transfers, saying it has received news of the central bank's intentions from banks and third-party platforms.
The other, Shanghai-based FXBTC, is ending deposits effectively now and suspending bank-card withdrawals on several banks urging it to cancel accounts as soon as possible. xapo wallet vault

The exchanges are less well-known than BTC China, Huobi and OKCoin — three of the most commonly used platforms by local investors — authorities' outlawing the digital currency completely.

Is bitcoin inching closer to widespread acceptance?
If you're trying to sell some bitcoins before the tax deadline — or just want to use them in your everyday life — it's becoming much easier. We're starting to get press release after press release about a new company that accepts the cryptocurrency. This week it included the Chicago Sun-Times, the first newspaper to jump on board, and the Sacramento Kings, which released a bitcoin-only store for its merchandise. Virtual currency even became its own section of goods on Ebay (although it's not an approved payment method yet). The largest company to come on board this week was the Square marketplace. Alleged Bitcoin Founder Did Classified Work For U.S. Military Newsweek writer asks if Satoshi Nakamoto is working on behalf of governmen

confidence in the currency's value. No business wants to accept bitcoin then immediately have the currency be worth $10 less a minute later. The products that are going to be more attractive to entrepreneurs are the ones that immediately convert bitcoin into whatever the businesses preferred tender is — at least until the market fluctuates less frequently. Although many Bitcoiners are hoping for more large retailers like TigerDirect and Overstock to adopt Bitcoin, it may have a negative impact on the BTC price as these retailers will most likely convert 90% of their coins to cash — putting additional selling pressure on Bitcoin.

While merchants are starting to trust the cryptocurrency, the bitcoin community is going to have to rely the consumers to start spending and storing their money in the cryptocurrency, and not just immediately cash out.

Buffett's comments and why he made them
Buffett said bitcoin is essentially an updated version of writing a check or sending someone a money order. In other words, it's simply a new, more efficient way of transmitting money. He's not discounting the usefulness of bitcoin to make payments and transfer money, just the intrinsic value it supposedly has as an investment.

Plans for eBay Bitcoin Exchanger
CEO of eBay, John Donahoe, has publicly expressed interest with the digital currency industry. There have also been plans for eBay to become more involved with currencies like bitcoin. "PayPal is building a digital wallet that can take multiple types of currency."
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It was later discovered that eBay had filed a patent application with the United States Patent & Trademark Office, back in July 2013, which had mentions of bitcoin. The patent speaks of an eBay bitcoin exchanger type of system, which can be used to accept any form of currency. singapore Flexcoin, which billed itself as a "Bitcoin bank," has shut down after the theft of 896 Bitcoins, which were worth roughly $622,000.

This is just one more instance of a Bitcoin company having to shutter its doors in recent weeks. Mt. Gox was certainly the loudest to go, even seeing protests in front of its Japan headquarters.
TSA after he opted out of going through a body scanner. The official reason for further interrogation, according to the screeners, was "We saw Bitcoin in your bag and need to check." For anyone living under a rock, Bitcoin is a virtual currency. It does not exist in physical form. Saying you had seen bitcoin in a bag would be like saying you had seen email in a bag -- it makes no sense.
Bitcoin could get boost from Square and Stripe moves

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