The Daily Bits PH – Bitcoin and Cryptocurrency News (10/20/2017)

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Welcome to the 4th edition of Daily Bits – Bitcoin and Cryptocurrency News – 10/20/2017. As you can see, this is really an almost-daily post roundup. Hopefully, we can do this every day next month!

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 10/20/2017

Bitcoin News

Report: Cex.io announce plans for Segwit2x

The Segwit2x is real and it’s coming this November. We have reported in the Daily Bits some of the Bitcoin companies and their stance about the fork. For a brief background, check out this excerpt from our previous Bits post.

Cex.io revealed their stance on the fork and clearly stated their customers’ funds will never be at risk no matter how the market evolves.

Whether we support the split or not, add new pairs for trade or not, our existing customers will receive new coins if Segwit2x hard fork happens. – Cex.io statement

Cex.io said they will inform their users about the payout details at a later time.

Bitcoin Stories

In Pictures: The secret Swiss mountain bunker where millionaires stash their bitcoins

Quartz ran a story on where Xapo, a bitcoin wallet site, stores their users’ bitcoins offline… in a bunker on one of those mountains in Switzerland.

Refresher, bitcoins are digital. So what is stored? Check out this article about bitcoin wallets.

Bitcoin Forecast

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.

Forecast: Experts say bitcoin will soar above $25,000 in 5 years

Tom Lee, co-founder of FundStrat Global Advisor thinks bitcoin can certainly reach a higher value so long as more cryptcoins are created. He explains:

What we found in our research is that the more coins that are being issued, the more are using bitcoin as their master ledger, which means bitcoin’s value is actually growing as there’s more coins.

Forecast: Forget Bitcoin, The Blockchain Revolution Is Coming

An article from Nasdaq suggests how bitcoin is really just the beginning of a boom that will happen within the blockchain. Jimmy Butts writes:

Blockchain is where the real excitement is. This technology has the ability to revolutionize entire industries… and not just in the financial space. In fact, numerous companies in the food industry have been using blockchain to track their food.

Bitcoin, Cryptocurrency 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

AirSwap

Last time, AirSwap, a project that aims to decentralize cryptocurrency exchanges, had an initial coin offering and we were surprised about the participants. The Philippines represent the 2nd biggest group to participate in the ICO. This is surprising as there’s no simple way of buying ethereum right now in the Philippines. Check out this article to know more.

That’s it for today’s Daily Bits – Bitcoin and Cryptocurrency News 10/18/2017. Check back again tomorrow for another post in this series!

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]

Michael Mislos
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