Bitcoin Forecast

Industry experts believe that in order for Bitcoin to be become more accessible to the masses, it is imperative for tech entrepreneurs who are setting up Bitcoin-related companies or apps to understand the pros and cons of traditional currency.

Although Japan is to a big player in the Bitcoin marketplace, being the first country to open its doors to Bitcoin entrepreneurs, the Japanese government is starting to be cautious and wanting to learn more about the crypto-currency, thanks to Mt. Gox filing for bankruptcy.

Liberty Teller, the MassChallenge startup that opened four Bitcoin ATM machines around the Boston area, has rebranded itself into LibertyX and will now allow users to purchase the digital currency around 2,500 locations in 33 states across the country.

DigitalTangible currently manages the world’s first Bitcoin/precious metal exchange. It allows consumers to use Bitcoins to buy these metals online, with the users identified through block chains.

HSBC recently severed its ties with GA Advisors, the world’s first regulated Bitcoin investment fund. Supposedly, the bank was worried about a “money laundering risk” activities in the Bitcoin industry.

One of the biggest advantages of Bitcoin is its user anonymity. Many analysts consider this to be one of the main reasons as to why it drew such extensive clientele.

The yearly North American Bitcoin Conference is gaining more and more prominence, thanks to a surge in registration. Participants have been working closely with the industry, investors and individuals who want to know more about the Bitcoin world.

Payward Inc, one of the leading Bitcoin exchanges stated that it will assist the recently collapsed Mt. Gox, on investigating the loss of hundreds of thousands of Bitcoins and manage the process of paying back its creditors.

Bitcoin has long been considered a revolutionary that individuals will ultimately conduct their transactions. It is no doubt that the crypto-currency came a long way from only being considered another financial asset.

As Thanksgiving weekend approaches, retailers are gearing up for Black Friday. Black Friday is a retail spin-off, used by retailers to offer huge discounts just before the holiday season to substantially increase sales volumes.

Bitcoin is being very well received in Netherlands, with its user base growing substantially. It has been reported that the country is considering not imposing a Value-added tax on the sale or purchase of Bitcoins.

Over recent months, there has been an uproar concerning the National Security Agency snooping into social media records of users from world over. This led to the development of many platforms which are claiming to be encrypted.

A group of billionaires have recently taken an active interest in developing the Bitcoin marketplace and Bitcoin technology. They already invested close to $21 million in the blockchain technology called Blockstream.

Bitcoin has over the past few years has had its ups and downs. From being touted as the new transaction currency, breaking away from the traditional currencies, to being used as a prime currency for running an underground drug market called Silk Road, Bitcoin seems to have come a full circle.

Ex-CEO of Citigroup Vikram Pandit, has come out in support for Bitcoin and believes that the innovative product has the potential of changing the way transactions happen.