Category Archives: bitcoins

“RSCoin”: BoE Now Laughing Stock of Tech Experts Worldwide

The Bank of England has announced it is planning its very “own” Crypto currency, called RScoin.

The coin would be “so much better than Bitcoin” for the alleged advantage of being “backed by the trust of governments”. Exactly the “assurance” everyone needs these days.

Proving to know little more than what some central-bank controlled press office has fed them, Britain’s Daily Telegraph writes on what is actually just the latest wet dreams of the banking elites in a poorly researched article, http://www.telegraph.co.uk/business/2016/03/13/central-banks-beat-bitcoin-at-own-game-with-rival-supercurrency/. Just like the BoE itself, The Daily Telegraph has failed to understand what they’re actually doing, or talking about respectively.

If you want to read something really stupid about the very central bankers responsible for 2008’s economic crisis, then you might want to read that article. No one there is even getting the first thing about Bitcoin’s true innovation for being trustless and peer-to-peer decentralised in nature. The article entirely fails to even scratch on the implications of Satoshi Nakamoto’s solving the Byzantine General’s problem and thereby succeeding with managing distributed consensus for the first time in history. As every mathematician or computer scientist will confirm, this is the actual importance of “Bitcoin” and “Blockchain technology” though. Introducing some central-planners-controlled “RScoin”, the Bank of England’s latest brain fart, proves to only be yet more of the same: namely another attempt of the state at humanity, at freedom, and thus at everyone of us — backed by yet more state-control, central planning and government power. It also proves that governments are having a very hard time moving beyond the technological level of horse-drawn carriages and gunpowder.

With the alleged “trust” of RScoin, sold to us as an “advantage”, the real trouble proves to be the lack of this very trust when people are supposed to put it in governments once again, and after  governments and banking elites have empoverished the world for much more than merely the Federal Reserve’s 103 years of existence now.

At least, a “competing currency” RScoin is though. So let us see how this will play out. Let us see how, and if so, it really can compete with Bitcoin and Alt coins at the end of the day.

Latest BTC Price, as reported on Coinbase

Bitcoin Price May Be Getting Ready for Next Fundamentals

The price of Bitcoin to the US dollar and other paper currencies has been taking a breather during the last days, apparently in the wake of a technical short-term move to the upside in major stock markets.

Bitcoin and other Crypto coin prices powered ahead strongly during the first week of trading amidst uncertainties over stock prices and the worst start on record into a trading year for stocks. Particularly with stock investors in China fleeing the conventional markets and open to unconventional ones, Bitcoin and other Crypto coins were up quite significantly. Notably, this includes other Crypto coins than just Bitcoin and Litecoin like Peercoin, Dogecoin, and Earthcoin. The latter appears to grow into some kind of a darling among the Chinese and, as a result, has been moving quite in line with local developments there for the previous months and throughout several Asian stock market setbacks.

Bitcoin climbed back almost to its highs of late December 2015, but failed to jump over the current high around $463. Currently, the Bitcoin price appears to be waiting for fresh inputs from conventional markets and their fundamentals — mainly the likely negative ones that would propel the Crypto sector further into higher territory.

On this background, the remainder of the month may see some exciting developments for both conventional stock and foreign exchange markets and “alternative” investments as well.

Bitcoin Price Picking Up More Solidly

The price of Bitcoin in US dollars has been picking up significantly again. The  market price of the “original Crypto currency” has been hovering for months but was stable around  $200, always clear of support around $180.

During the last weeks, bitcoins have been solidly advancing from $280 to more than $328 over the weekend. Weekends seem to be some kind of “high season” for amateur Crypto traders who appear to spend their free time glued to their screens and giving many Crypto currencies — beyond just Bitcoin itself — significant movements during these times.

Not that it mattered much for the overall idea of Crypto currency — but the price of Bitcoin is picking up very nicely again (and this time also quite solidly, without that infamous “volatility” the mass-media seems to “know” about BTC). With extra weekend-activity gone now, the latest reading for Bitcoin at Coinbase is still above $320.