The Daily Bits PH – Bitcoin and Cryptocurrency News (10/12/2017)
Welcome to the 2nd edition of Daily Bits – Bitcoin and Cryptocurrency News 10/12/2017. In this article, we will be posting relevant news and happenings about the current state of Bitcoin and Cryptocurrency in the country and abroad. Are there new shops accepting bitcoin in the Philippines? Any announcements from BTC sites in the Philippines? What’s happening elsewhere?
Bitcoin and Cryptocurrency News 10/12/2017
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More Bitcoin companies reveal their Segwit2X Plans
Yesterday, we read how the Segwit2X issue is dividing the Bitcoin community and how Bitcoin.org wanted Bitcoin companies to publish their stance on the matter. Today, two companies shared theirs.
Xapo’s policy in regards to forks is that, when there is a fork, we always follow the chain with the most accumulated difficulty and we make the minority chain available to our customers for them to sell or withdraw from Xapo. – statement
All things said, if a contentious hard fork does happen, Surbtc could eventually list both assets but will allow for sure its users to at least be to withdraw both. – statement
Bitcoin Fun Fact
Man sells everything he and his family have for Bitcoin
We have a here a guy named Didi Taihuttu, who claims to wait for the next cryptocurrency boom, which he believes will happen soon. He put his house and everything he has on sale and now lives with his family just outside Venlo, Netherlands.
I am an entrepreneur, so when I first heard about Bitcoin, I said: let’s do this. – Didi Taihuttu
Didi seemed to not have done this on a whim since once had set up physical bitcoin mining businesses.
*Didi Taihuttu Instagram image credits here.
Forecasting Bitcoin is tough. The industry has a number of voices that sit on opposite sides. One thinks Bitcoin will surge, the other side thinks Bitcoin is a bubble. We will always share these 2 voices on this section of our Daily Bits.
Bitcoin Retakes Place as the King of Cryptocurrencies
Confidence in Bitcoin continues to grow as its value flirts near the $5,000 mark. This is despite the fork coming this November. Some think this confidence is due to slowly waning attitude towards coins launched through Initial Coin Offerings*. On Bloomberg, Camila Russo writes:
But it could also be that bitcoin is benefiting as investors are becoming wary of tokens sold in initial coin offerings — maybe the Wu-Tang Coin, or Paris Hilton and Floyd Mayweather publicizing their ICO investments on social media was a bit much, and somebody losing $70,000 in one of those sales today adds to many other cautionary stories.
Experts warn of Volatility ahead
Aurelien Menant, founder of Gatecoin mentioned to CNBC that Bitcoin could get close to $6,000 before 2017 ends. However, Menant advice on some volatility as with every split or fork.
The forthcoming bitcoin fork in November will result in greater volatility and risk for this new asset class. – Aurelien Menant
Bitcoin and the Philippines
Bitcoin to Php
Below is the Bitcoin to Php chart today. It’s a daily chart. The chart below the big one is the 5-year Btc – Php chart to better check how far BTC’s value has increased in Pesos in the last 5 years.
Image above is from XE.
That’s it for today’s Daily Bits – Bitcoin and Cryptocurrency News 10/12/2017. This is a work-in-progress so tune in again tomorrow for another post in this series!
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