With Donald Trump Bitcoin Price could grow
America has its 45th President today and several bitcoin investors and analysts believe that with Donald Trump Bitcoin price could grow, as its presidency could provide a boost to bitcoin prices.
Analysts explained that even if Bitcoin markets would not see any significant change from Clinton’s election, instead Trump could impact worldwide investors, so traders agree that Donald Trump will be a good thing for bitcoin business.
Jacob Eliosoff commented:
“I think a Trump presidency would be great for bitcoin, much like nuclear war would be great for bitcoin. It would be an epic disaster in a bunch of respects – economic, geopolitical, democratic – and in the fear and chaos bitcoin would be a defensive asset people could turn to.”
If Hillary Clinton won, experts have suggested that she would be a boom for the blockchain markets, given her open embrace of the tech as part of her innovation platform. Previously, in fact, she suggested she would use the distributed ledger.
The Donald Trump Bitcoin Effect
Donald Trump hasn’t put bitcoin on his agenda yet, but he defined himself as a “Washington outsider”, so traders believe that he lead to uncertainty and move towards alternative assets.
This might create just a temporary increase in bitcoin prices, but it might have a little lasting effect.
In fact, ARK Invest‘s Chris Burniske underlined that bitcoin can be useful in unpredictable times like this, and the election could add evidence to this claim.
“The way in which its price movement is uncorrelated from other capital market assets may be a desirable characteristic for many investors in the face of uncertainty. Depending on how people feel about the election, they may choose to hedge themselves from the more traditional markets by using bitcoin.”
So, in a few words, if bitcoin benefits from the election result, don’t give Trump too much credit for that, any other cataclysm would have done the same.
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Thailand Bank tests Blockchain with IBM
Thailand bank tests blockchain to certify official documents. To do so, it is is working with the IBM company.
According to Reuters magazine, in fact, Kasikornbank wants to cut costs related to record keeping.
The bank is one of the most important in Thailand and it is looking to create a document certification service by next year.
Also, Kasikornbank is talking with other Thai banks with the goal of establishing new collaborations that could involve a few members of the national financial system. According to the current plan, other banks together with Kasikornbank could use the blockchain network to certify documents.
In a press release published back in April, Kasikornbank revealed its decision to study and test new technologies, including machine learning and the distributed ledger.
At the time, the Thai bank explained that blockchain is “a technology that offers other benefits, e.g., reducing costs and increasing cross-border settlement efficiency that can be verified”.
This news also represented a turn within the Thai country, as two years ago the specter of a bitcoin ban in Thailandia led to problems for the local exchange activity.
After that, Thailand decided not to ban digital currencies, but published a warning to its citizens about their use.
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Switzerland Bitcoin Regulation will arrive next year
Switzerland Bitcoin Regulation might arrive next year.
Recently its national railway service “have jumped on the bitcoin bandwagon”, as explained by Coindesk, so now it’s time for Switzerland to start regulating fintech and digital currency.
A few days after the Swiss railway-related announcement, as SBB decided to sell bitcoin through its network of ticket kiosks – the Federal Department of Finance (FDF) announced its plans to regulate fintech with the goal of introducing a new regulation next year.
Key elements include plans for a new kind of license geared specifically toward fintech companies and a so-called regulatory “sandbox” for experimental firms. Under the proposed regime, the Financial Market Supervisory Authority would become the primary regulator of fintech firms working in Switzerland.
In a press release, the FDF explained that it will guide more researches about bitcoin and other digital currencies and it will study the distributed ledger broader applications .
The company explained:
“The FDF should conduct additional clarifications in cooperation with the interested authorities on reducing further barriers to market entry for fintech firms, also those outside financial market law (e.g. legal treatment of virtual currencies and assets).”
During a recent speech, Ueli Maurer, Swiss Finance Minister, commented that the proposed Switzerland Bitcoin regulation would help to attract more brands – even if the nation positive attitude has already attracted the attention of several blockchain-related startups to make their home in the country.
“We assume that with the steps we have prepared and the commitment we have to the overall financial services industry we can provide a solution that puts us among the top (countries) in the world that regulate this,” he explained.
Read more here about the Switzerland involvement in the fintech sector.
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Yacht with Bitcoin: how to rent it in Europe
A yacht with Bitcoin in Europe? Read this article and find out how to rent or buy it.
A few months ago you might remember about a € 100 000 Tesla sold with Bitcoin in Finland, where Auto Outlet Helsinki Oy managed this transactions for a private citizen.
Users can buy everything they want with digital currencies, thanks to platforms such as OpenBaazar, GiftOff and more.
But from now one people can also buy and rent luxury yacht with bitcoin, as NAMI integrated bitcoin as a payment option.
NAMI is a company that rents luxury yachts and its director, Miika Toivonen is the same person who works for the Auto-Outlet Helsinki and sold the Tesla I previously mentioned.
Now Toivonen is is willing to allow users to buy luxury yacht with bitcoin.
“We’ve always willing to take part on everything that is new, like selling Teslas with bitcoin, so why wouldn’t we also rent yachts as well. So far we’ve sold a nice amount of Tesla electric cars around Europe, so I believe the same thing will work with luxury yachts as well.”, explained Director of NAMI Miika Toivonen in a press release.
With over 100000 merchants worldwide that accept bitcoin as a payment option, Bitcoin is the faster growing payment option and currency in the world.
And Finland, where NAMI works, is one of the top countries on Bitcoin usage if we count the number of bitcoin currency exchanges and BTMs.
“Meanwhile when numbers and numbers financial operators are getting more and more interested about bitcoin, we’ve noticed that demand for expensive luxury brands bought with bitcoin is rising. This is simply because there is more wealthy players on board. We were launching bitcoin payments for Luxury Collection and in the future we want to help more companies to benefit from Bitcoin-teknology and phenomenom.” explained us Aleksi Vitakoski from Bitcoinkaupat.
“In my opinion selling luxury cars like Tesla with bitcoin is some remarkable sales in bitcoin space, in Finnish and in European scale. It’s nice to see that adding one payment option can lead to purchases like that and it’s also very natural move by NAMI to extend bitcoin payments to yachts as well.”, commented Prasos Oy CEO Henry Brade.
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Bitcoin Segwit: scaling solution in November
Bitcoin Segwit was announced in December and it was one of the most awaited software versions since the beginning of the bitcoin creation.
And it is likely to happen on November 15th.
The Bitcoin Segwit, in fact, could solve the block size debate as the block size will become bigger and the bitcoin scalability could improve.
Ciphrex CEO and Bitcoin Core spokesman, Eric Lombrozo explained that users can expect an increase of capacity of 1.8 times.
However, bitcoin segwit main goal is to solve the malleability of transactions, one network aspect that has been controversial since the Mt Gox collapse back in 2014, when this “malleability” problem was used as a scapegoat.
Bitcoin segwit could solve a major part of the block debate, without a hard fork of the Bitcoin protocol. Transactions would tell miners that anyone can spend them, no signature required, while also including strings of seemingly meaningless text.
Old nodes confirm these transactions, ignoring these odd directions and gibberish.
Newer nodes would translate the extra text into instructions, telling them to collect signatures and store them in a completely new part of the transaction, called the Segregated Witness.
Lombrozo, in fact, believes that the benefits of switching to segwit are sufficient to encourage developers to adapt their own software to the new segwit solution.
“Not only they will be able to use the increased capacity offered by segwit and pay lower fees, but also they will be able to support other functions that will be enabled later by segwit with minor updates,” he said.
To better understand what the Bitcoin Segwit is, read here an insightful infographic.
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Bitcoin virtual credit card: how to create it
Holytransaction Trade is a new service to create a bitcoin virtual credit card offered by the HolyTransaction wallet.
Holytransaction.trade to create a bitcoin virtual credit card
You would think that Holytransaction.trade is a service that can be found anywhere on the web to sell and buy bitcoins.
This is not true, because HolyTransaction.Trade allows you to do much more, such as creating a bitcoin virtual credit card, convert bitcoin into fiat currencies and pick them up in an HalCash ATM, etc.
If you have some digital currencies you can create a bitcoin virtual credit card to buy everything you want online.
So, HolyTransaction Trade is not only a platform where you can convert bitcoin into dollars or euro, but also vice versa: in Mexico, Greece and Spain you can convert fiat into bitcoins via PayNet, EasyPay and Teleingreso.
Also, among the options you can create a bitcoin virtual credit card.
This service is available and works in less than 10 minutes and it is also available on Google Play.
Please note that when you create a virtual credit card the 2% from the total value will be withheld as fees.
To use this service you must be either registered on Entropay.com or register after completing the process.
So if you need liquidity, you may want to transfer your bitcoin into a virtual credit card.
Follow these steps to understand how to create your bitcoin virtual credit card with HolyTransaction.Trade.
- In the first column on the right you need to select “Bitcoin” as an input and “Virtual Bank Card” on the left as the “output”. Then click on “Continue”.
- Select the amount and your email address to receive the virtual card’s information.
- In the following page, you’ll find an address on the bottom right, below the “Pay To”.
- Send your the exact amount you selected before to that address, so enter on your favorite wallet and do a transaction with that address as a recipient. You can transfer max 250 euro for each email address.
- Create or login to your account on EntroPay. You’ll receive all the info you need via email.
- Once the transaction is validated and written on the blockchain, within the next ten minutes the amount you selected will be sent to the beneficiary bitcoin virtual credit card.
- Operation Completed!
This is just one of the services available on the HolyTransaction.Trade platform to convert and send bitcoin worldwide.
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How to convert bitcoin into euro in a few steps
How does funding for Holytransactions work?
HolyTransaction is a multi-currency wallet that allows you to store, send, receive, and exchange numerous cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. To utilize HolyTransaction, you must first fund your wallet with the cryptocurrency of your choice.
You may fund your HolyTransaction wallet in two ways:
Depositing cryptocurrency: You can deposit cryptocurrency into your HolyTransaction wallet by sending it from another wallet or exchange. To do so, go to your HolyTransaction account’s “Wallet” section and select the cryptocurrency you want to deposit. Finally, select “Deposit” to obtain the wallet address for the desired coin. Copy this address and use it to transfer funds from another wallet or exchange to your HolyTransaction wallet.
Bank Transfer: To do so, go to your HolyTransaction account’s “Deposit” section and select the currency you want to deposit. Finally, select “Bank Transfer” and follow the on-screen instructions to complete the transfer. You must give personal information such as your name, address, and bank account information.
How to convert Bitcoin into Euro using HolyTransaction:
- Go to the HolyTransaction website at https://holytransaction.com/ and log in to your account. If you don’t have an account, you can sign up for one by clicking on the “Sign up” button on the top right corner of the website and filling in the required details.
- Once you’re logged in, click on the “Wallet” button on the top left corner of the website. This will take you to your wallet page where you can see your Bitcoin balance.
- Click on the “Send” button next to your Bitcoin balance. This will take you to the “Send Bitcoin” page.
- In the “Send Bitcoin” page, enter the amount of Bitcoin you want to convert into Euro in the “Amount” field. You can also select the currency you want to convert your Bitcoin into by clicking on the “Currency” dropdown menu and selecting Euro.
- Next, enter the recipient’s wallet address in the “To” field. If you’re not sure about the recipient’s wallet address, you can click on the “Address Book” button to select an address from your saved addresses.
- Review the transaction details to make sure everything is correct, including the amount, recipient’s address, and currency conversion rate.
- Once you’re ready to complete the transaction, click on the “Send” button. HolyTransaction will deduct the Bitcoin from your wallet and convert it into Euro at the current exchange rate.
- Your Euro balance will now be visible in your HolyTransaction wallet. You can use this balance to send Euro to other wallets or withdraw it to your bank account.
That’s it! You’ve successfully converted your Bitcoin into Euro using HolyTransaction.
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US Federal Reserve studies Blockchain
The US Federal Reserve studies Blockchain as “this may represent the most significant development in many years in payments, clearing, and settlement.”
According to governor Lael Brainard, in fact, this technology could be very disruptive for the financial system.
During her speech at the Institute of International Finance in Washington, D.C., she explained that the Federal Reserve studies Blockchain to study and test the technology for a next-generation payment and settlement system.
“We are paying close attention to distributed ledger technology, or blockchain, recognizing this may represent the most significant development in many years in payments, clearing, and settlement.”
Brainard’s speech came a week after Janet Yellen commented that the distributed ledger could have a “significant impact” on the fintech industry. Also, she explained that the central bank is “trying to understand digital currencies and other blockchain applications”.
During her speech, Brainard commented on the various use cases of the blockchain in financial field, as well as talked about the potential risks.
“Like many new financial technologies, distributed ledgers could ameliorate or exacerbate traditional financial risks,” she explained.
Federal Reserve studies blockchain: a whitepaper will be published soon
Also, Brainard said that the Federal Reserve will publish a whitepaper on the blockchain by the end of this year.
Furthermore, the central bank will continue to study and discuss the tech with both private and public sector stakeholders.
To read more about Federal Reserve involvment in the fintech field, click here.
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Bitcoin as Money recognized in Florida
Bitcoin as Money around the world
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South Africa Bank will open to blockchain
South Africa Bank Whitepaper on Digital Currencies
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