Bitcoin Experiences an Intense Flow of New Money and Mainstream Attention

Over the past month, mainstream media has given Bitcoin the spotlight due to the digital currency’s recent jumps in value. Multiple news reports featured in prominent publications and on television are saying mainstream investors are flocking to cryptocurrencies in great number.

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‘The Laughter is Fading’

Mainstream media is giving Bitcoin a lot of attention because the digital asset’s market value has gained significant value in a short period of time. To put the jump in value into perspective, bitcoin’s price has risen by 87% in just thirty days. Now many broadcasts and publications are reporting on bitcoin nearly every day giving the technology quite a bit of exposure.

Bitcoin Experiences an Intense Flow of New Money and Mainstream Attention
John Bollinger, the inventor of the financial analysis indicator Bollinger Bands, mentions bitcoin to his 11,000 Twitter followers.

Bitcoin can be seen on television as news broadcasts such as Fox, NBC, and CNBC are reporting on the subject regularly. Additionally, the decentralized currency is being featured in editorial publications such as Market Watch, Time Magazine, Forbes, Business Insider, Bloomberg, and the New York Time. For instance, on May 26 the investment news outlet Market Watch headline reads;

Wall Street laughed at a call for bitcoin at $25,000 — but after a 400% surge, the laughter is fading

Bitcoin the Mother of All ‘FOMO Trades’

Bitcoin Experiences an Intense Flow of New Money and Mainstream Attention
IG financial analyst Chris Weston.

More mainstream exposure happened last week as the American socialite and professional poker player, Dan Bilzerian, told his 22.3 million Instagram followers he was buying a lot of bitcoin.

“Just bought a sh*tload of bitcoin — it’s so crazy watching that sh*t f**king go up it’s like… betting a bunch of money on the Super Bowl,” explained Bilzerian.

The well known IG financial analyst Chris Weston also notes the new money flowing into bitcoin is huge. “I genuinely can’t wait to see young tech heads driving down Collins Street in a new Aston, because they had the stones to be able to hold their exposure through what has been an exponential move without ever having taken profit,” explains Weston.

Bitcoin is the mother of all ‘FOMO (Fear of Missing Out) trades’ — Perhaps the fact I am putting so much focus on bitcoin suggests a top has been seen and I am the taxi driver contrarian indicator. We shall see but flows into bitcoin have been huge.

Replacing the USD and a Whole Lot of Smart Money Coming In

Moreover, on the Australian Broadcasting Corporation’s (ABC) nightly news brief the host detailed that bitcoin could possibly replace the U.S. dollar. During the newscast, ABC said there is a chance alternative monetary systems like cryptocurrencies can become the next de facto world currency in the future.

Bitcoin Experiences an Intense Flow of New Money and Mainstream Attention
Australian Broadcasting Corporation’s (ABC) nightly news host says Bitcoin could replace the U.S. Dollar.

Additionally, many investors were quite surprised to hear how much the Boston-based Fidelity Bank, CEO Abigail Johnson liked bitcoin. Fidelity has added Coinbase accounts to their online banking platform, and the firm has been mining bitcoin with 21 Inc. computers as well. Nick Kirk, a former IBM Researcher, explains, “They basically let the world know they are looking at it.”

The smart money is starting to come in now.

Enormous Momentum

These days there is significant interest in cryptocurrencies stemming from Asia and not just from China anymore. India, Japan, and South Korea are starting to become dominant players within bitcoin trading markets. There definitely seems to be a whole lot of money moving towards cryptocurrencies like never before as the entire market capitalization commands a whopping $83 billion. These valuable currencies are also trading over $4.6 billion USD worth of cryptocurrencies daily, and bitcoin is capturing half this share all by itself. Last but not least another mainstream mogul also is very optimistic in regards to bitcoin adoption. The Former anti-virus tycoon John McAfee believes bitcoin’s price velocity will continue to rise.

“Bitcoin has enormous momentum,” McAfee notes.

Do you think a whole lot of mainstream investors and new money is flowing into cryptocurrencies? Let us know what you think in the comments below.

Are Asian Markets Creating a Bitcoin Price Bubble?

Bitcoin’s price has been rising so fast over the past two months people don’t know what to expect next. In Asia, the price is climbing higher than most western exchanges. Now many people are wondering how healthy the current price spike is and whether or not the digital currency is in a bubble that might be followed by a deep correction.

Making trading online on the smart phone. New ways to make economy and trading
Making trading online on the smart phone. New ways to make economy and trading

Cryptocurrency Fever In Asia Is Pushing the Price Upwards, but How Long Will It Last?

Are Asian Markets Creating a Bitcoin Price Bubble?
Charles Hayter, Crypto Compare.

Everybody is extremely focused on the price of bitcoin and a number of altcoins increasing in value exponentially. Some people think the digital currency’s value gains are moving too fast while others believe overall global demand supports the price rise. Charles Hayter, founder, and CEO of the cryptocurrency data analysis firm Crypto Compare reached out to Bitcoin.com and detailed his opinion of the situation bitcoin markets are facing.

Hayter believes the increase is a bubble formation but questions the level of speculation. Market bubbles can burst in a short period of time, but some bubbles have lasted years.

“Media begets more price rises and triggers more exposure and buying,” explains the Crypto Compare founder. “The ICO phenomenon is contributing too as traders wash in and out of the major cryptos chasing and pumping the next ten bagger.”

Japan, Korea, and Asian interest is causing the price to rise and dragging up Western prices on the back of regulatory moves as well as scaling — The party will end as Asian premia comes back into line with Western markets or even drag them down as panic selling takes hold. The exact trigger is yet to be seen although last time it was Mt Gox.

Are Asian Markets Creating a Bitcoin Price Bubble?
Korean markets are buying Bitcoin at over $4000 – a $1400 premium or 50% premium to the USD price.

A Mixture of Factors Driving the Price

Currently, Asian bitcoin markets are seeing massive trade volume and higher prices per BTC in contrast to most exchanges worldwide. According to Hayter and Crypto Compare statistics, “Korean markets are buying Bitcoin at over $4000 – a $1400 premium or 50% premium to the USD price. Korean volumes hold 11% of total bitcoin trading.” Furthermore, prices are higher than the global average in Japan, India, and other regions as well. Alongside Bitcoin fever, Korea, and other Asian countries are also seeing significant Ethereum trade volume, as well as higher ETH price spreads.

Are Asian Markets Creating a Bitcoin Price Bubble?
Japanese markets are buying Bitcoin at over $3000.

Hayter believes the recent scaling proposal introduced by Barry Silbert may have given traders some optimism, but he believes it is still “unclear if the agreement can be implemented.” However, because some companies like Bitmain and others who opposed supporting Segwit in the past have agreed to the compromise, Hayter believes we are moving in the right direction.

So it’s a mixture of factors driving the price – the scaling solution is removing the negativity that surrounded bitcoin in the Western world, but the Asian markets with their premia are dragging the price higher with their irrational exuberance.

“Both Bitcoin and Ethereum markets have seen global dislocation as price premia have appeared specifically on the JPY and KRW markets Asian and more specifically Korean fever is taking hold,” Hayter adds.

What do you think about Asian markets driving up the price? Do you agree with Charles Hayter that we are in a bubble at the moment? Let us know your thoughts in the comment section below. 

Bitpay’s Bitcoin Prepaid Card Now Available to 131 Countries

On May 22, Bitpay’s chief commercial officer, Sonny Singh, revealed its prepaid bitcoin debit card product will now be available in 131 countries. Initially, the card was only available for U.S. residents but due to the expansion users worldwide can now convert bitcoin into spendable euros, pounds, and many other fiat currencies.

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Bitpay’s Bitcoin Visa Debit Card Goes Global

Bitpay's Bitcoin Prepaid Card Now Available to 131 Countries
Bitpay’s chief commercial officer Sonny Singh.

Bitpay’s recent announcement will mark the company’s pre-paid Visa card as the first cryptocurrency tethered debit card that’s available to over 130 countries worldwide. The Atlanta-based firm believes the improved accessibility of the Bitpay card will enable global citizens the ability to utilize the tool with their digital currency savings.

“Today’s news makes the Bitpay Card the first prepaid Visa debit card available for bitcoin users in both the United States and in major bitcoin-using countries such as the UK, Germany, China, Japan, Argentina, and Brazil, along with 125 other nations,” explains Bitpay.

With a growing bitcoin user base and a bitcoin market cap of $36 billion, the Bitpay Card is poised to become a powerful spending tool for bitcoin users around the world.

‘More Convenient Than Online Exchange Methods’

Bitpay's Bitcoin Prepaid Card Now Available to 131 CountriesAccording to Bitpay, the company has issued over 15,000 cards since revealing the bitcoin debit card in May 2016 and has a waiting list of applicants as well. The card available for bitcoin users was the first to offer conversion ability in all 50 U.S. states.

“The card is significantly more convenient, more affordable, and faster — by an order of days — than many online exchange methods for bitcoin today,” Bitpay’s announcement states. “The Bitpay Card’s recent integration with Bitpay’s bitcoin wallet allows users to convert bitcoin funds to dollars, euros, or pounds on the card in one in-app swipe.”

What do you think of the Bitpay bitcoin card being available to 131 countries? Have you tried Bitpay’s Visa card? Let us know about your experiences and what you think about the bitcoin card in the comments below.

India’s Government Seeks Public Comments on How Bitcoin Should Be Regulated

India is in the process of establishing a regulatory framework for digital currencies including bitcoin. Last week, the Indian government started soliciting public comments on how digital currencies should be regulated.

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Indian Government Wants Public Opinions

India's Government Seeks Public Comments on How Bitcoin Should Be RegulatedThe Indian Government’s Ministry of Finance on Saturday announced that the public is now invited to submit feedback or suggestions regarding the digital currency framework on Mygov.in. This website is designed, developed and hosted by the government of India’s National Informatics Centre of the Ministry of Electronics & Information Technology. The deadline for submissions is May 31.

This move follows the recent constitution of an inter-disciplinary committee by the Ministry of Finance’s Department of Economic Affairs “to examine the existing framework” of cryptocurrencies.

Should Bitcoin be Banned, Regulated or Observed?

India's Government Seeks Public Comments on How Bitcoin Should Be RegulatedThe Indian government wants to know “whether Virtual Currencies (VCs) should be banned, regulated or observed?” according to the first question listed on the Mygov website.

For those suggesting regulation, the government further asks:

  1. What measures should be taken to ensure consumer protection?
  2. What measures should be taken to promote the orderly development of VCs.
  3. Which appropriate institution(s) should monitor or regulate VCs?

For those suggesting that virtual currencies should not be regulated, the government then wants to know:

  1. What should be the effective self-regulatory mechanism?
  2. What measures should be adopted to ensure consumer protection in this scenario?

Most Comments are Pro Regulating Bitcoin

At press time, over 120 comments have been submitted. The majority of them are in favor of regulating bitcoin and other digital currencies, citing they are “the future.” However, one user noted:

It’s almost impossible to regulate a currency which is decentralized, you can’t shut down a currency which is working on a peer to peer, decentralized system.

India's Government Seeks Public Comments on How Bitcoin Should Be RegulatedMany comments suggest that by legalizing bitcoin and other digital currencies, India could take the lead in digital currency adoption and the development of blockchain technologies.

Citing how Japan recently recognized bitcoin as a method of payment, a comment reads, “bitcoin should be introduced in India asap like in other developed nations.” Another proponent of legalizing bitcoin pointed out that “most of the countries already made it legal. It will definitely help boost the Indian economy.”

Some Suggest Banning

India's Government Seeks Public Comments on How Bitcoin Should Be RegulatedAmong positive feedback are also ones which warn the government about the danger of bitcoin such as the recent Wannacry ransomware scare. One user wrote “bitcoin is very dangerous for the country. It is suicidal for the Indian economy,” citing its use by terrorists and criminals. Another commenter claimed, “to allow bitcoin or any other cryptocurrency will be a disaster, it will lead to the outflow of black money easily.”

A cyber dispute risk management consultant, Vijayashankar Na, also known as Naavi, also voiced his opinion. He suggested banning bitcoin and all other cryptocurrencies, claiming that the government has been misled by people with vested interests in the digital currencies.

India's Government Seeks Public Comments on How Bitcoin Should Be RegulatedHowever, there were also comments that urge the government to consider regulating bitcoin rather than banning it. One noted that “the main thing is to stop the misuses of cryptocurrencies instead of banning,” adding that “banning is not a solution, it is an action against innovation and technology.” This sentiment was echoed by another user who believes that “regulating it [bitcoin] is the solution and not banning it.”

There was also a comment which devalued all other comments. The user suggested that the Indian government already has the “most dependable and knowledgeable people” who can give advice on the matter. “I feel that public opinion in such matters should not be considered,” he wrote, adding that “all pros and cons should be discussed in parliament on advice given by a team of economists with the government.”

Do you think the Indian government will ban, regulate or just observe bitcoin? Let us know in the comments section below.


Sidechain Juggernaut RSK Labs Launches Ginger Testnet After $3.5M in New Funding

he highly anticipated project by RSK Labs officially moves into open beta status today with the launch of their public testnet named Ginger. The company is inviting everyone to try out their smart contracts using Bitcoin with their ethereum-like sidechain. They have also secured new funding that will allow them to take the project to full production, planned for later this year.

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Ginger Testnet Launched

RSK Labs Launches Ginger Testnet, Receives $3.5M in New FundingRSK Labs, the company behind Rootstock, announced at Consensus 2017 on Monday the global release of their open source testnet, Ginger. Developers worldwide can now deploy an RSK node, grab some testnet coins, and try out ethereum-style smart contracts on RSK’s sidechain to the Bitcoin network.

Ginger’s source code is now available on Github. A network stats page, an RSK block explorer, and a testnet RSK coin faucet are also available to the public.

The RSK platform is a layer on top of Bitcoin, which aims to better transfer its value. Ginger “adds more functionalities to the Bitcoin network such as smart contracts, greater scalability and a new revenue stream for miners,” RSK Labs described.

RSK Labs Launches Ginger Testnet, Receives $3.5M in New FundingUsers of the network will be able to move the value of their bitcoins back and forth onto the RSK sidechain. RSK’s tokens have no value of their own, and primarily exist to speedily shuttle bitcoin around, giving it greater functionality with RSK’s varied smart contracts. Ginger allows a glimpse of this technology with some of the first smart contracts used on the system, including those that allow for merged mining, private networks, scaling benefits, and confidential transactions.

The RSK team says that over time, they will keep adding new features to Ginger. “These improvements will focus on the company’s vision of bringing the unbanked to the financial system, changing government through liquid democracies and building the Internet of Things,” they conveyed.

Second Announcement: New Funding

RSK Labs Launches Ginger Testnet, Receives $3.5M in New FundingAlong with Ginger’s release, RSK Labs also announced on Monday that it has raised $3.5 million pre-Series A funding from various investors, including Jaxx CEO Anthony Di Iorio, Bitfury and Bitmain.

This amount is on top of the $1 million raised last March by the company from Barry Silbert’s DCG, Coinsilium, and Bitmain.

RSK Labs plans to use their latest funds for R&D, strengthening network security, and deploying a “mainnet in a few months,” which would end the Ginger trial and launch RSK for real usage this year.

Scaling Benefits

RSK Labs plans to add three-tiered networks on top of Bitcoin to scale transactions to new levels. With Ginger, smart contract users can already see scaling benefits up to 20,000 transactions per second using Lumino, the company claimed.

RSK Labs Launches Ginger Testnet, Receives $3.5M in New Funding

RSK’s Gabriel Kurman (Photo\ Micheal Hudson)

Developers should be able to see the full speed improvements now, RSK Labs explained, adding that:

With Ginger, users will be able to run their smart contracts in a platform that can scale up to 2,000 tx/sec on chain and 20,000 tx/sec off chain, providing the scalability needed for global financial solutions.

Merge-Mine Bitcoin with RSK

RSK Labs Launches Ginger Testnet, Receives $3.5M in New FundingRSK Chief Scientist Sergio Demian Lerner gave a presentation on Monday at Consensus 2017. He said miners will be attracted to RSK because it is possible to mine their blockchain and Bitcoin, as well as other coins, all “at the same time and on the same hardware, and with the same power consumption.” The developer revealed that his team has “worked for over a year with mining pools” to develop “open-source plugins for merged mining that are highly efficient.”

This new form of merged mining is a cornerstone feature to RSK that incentivizes the use of their network and also of Bitcoin itself. Similarly, RSK’s smart contracts will reward people who run RSK nodes “from transaction fees,” Lerner described, and then announced that these contracts can be extended to “reward people running Bitcoin full nodes too.”

What do you think of RSK Labs’ Ginger Testnet? Let us know in the comments section below.

Shapeshift Launches Decentralized Portfolio Platform Prism

Today at the Consensus Conference in New York City the Shapeshift founder and CEO Erik Voorhees has announced the launch of Prism, a “trustless asset portfolio platform”. The Swiss blockchain technology company says investors of all types looking to build a portfolio can do so using the decentralized digital asset holding application.

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Shapeshift Launches Prism – the Decentralized Digital Asset Portfolio Without Third Party Risk

Shapeshift Launches Prism the Decentralized Portfolio PlatformLaunched today, the Prism platform provides users with the ability to secure a basket of cryptocurrencies without exposure to third party risk. The platform is built using Ethereum-based smart contracts that enable investors to construct a crypto-portfolio with a broad range of cryptocurrencies to choose from including Bitcoin, Litecoin, Monero, and Ripple.

Shapeshift says bitcoin and altcoins as an alternative investment have grown exponentially over the past two years, as the combined market cap has expanded over 200% in the past year to over $40 billion, explains the company. Prism will forward the cryptocurrency fever by offering the first live platform in a trustless environment dedicated to the users’ crypto-asset portfolio.

“Prism enables investors to gain secure, transparent exposure to digital assets in a way that has never before been possible. The days of leaving funds at an exchange ‘because it’s easier’ are over,” Erik Voorhees, CEO of ShapeShift detailed during the announcement.

Prism’s digital asset portfolios, built entirely on non-custodial smart-contracts, demonstrates a new standard in financial security.         

A Diversified Crypto-Portfolio That Competes With Other Prism Investors

The company says that it has used its proven model from the Shapeshift design to build Prism. The new platform is a “diversified crypto-portfolio that was distilled down into a simple interface: buy, rebalance, and settle, all of which the user can execute with nothing more than their Ethereum wallet,” explains the Swiss startup.

Shapeshift Launches Prism the Decentralized Portfolio Platform

Moreover once a Prism portfolio has been created it is positioned on a leaderboard competing with other Prism users based on investment performance. Furthermore, users can learn from top traders and copy their portfolio choices as well by visiting the public Prism performance leaderboards.

Prism Aims to Open a Whole New World of Borderless Finance

After creating a name for a personal Prism portfolio, users choose from a wide range of digital assets and determine how to split their investments. The investor then provides an Ethereum address that enables them to fund and track their Prism assets. The address gives Prism users proprietary control over their funds and the ability to track the investment vehicle via the Ethereum network. Shapeshift says the following ether wallets have been tested and vetted for use on the Prism platform Exodus.ioJaxx.io and Myetherwallet.

If an investor wants to close out their Prism account, they are asked to send a zero ETH transaction to a provided Ethereum address that will signal the smart contract to close the portfolio. If the Prism’s components went up 20%, the investor will receive 20% more Ether back than they put in, minus displayed fees.

“Prism takes us one step closer to a world of truly borderless finance. We suspect it will kickstart a vast horizon of financial experimentation upon smart contracts,” concluded Voorhees.

What do you think about the Shapeshift’s new portfolio platform? Let us know in the comments below.

Bitcoin Pizza Day: Reliving the Memories and Forging New Ones

Today cryptocurrency enthusiasts around the world are celebrating the notorious “Bitcoin Pizza Day” where two Papa John’s pizzas were purchased for 10,000 BTC. Not only is the transaction deemed the first bitcoin exchange for real-world value, the trade is now appraised at US$20 million at today’s exchange rates.

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‘I Like Having Leftover Pizza to Nibble On Later’

Bitcoin Pizza Day: Reliving the Memories and Forging New Ones The Bitcoin network had been in operation for a little more than a year on May 22nd, 2010 when a developer named Laszlo Hanyecz purchased two pizzas using the forum Bitcointalk.org. The trade Hanyecz made that day is widely celebrated every year by bitcoiners as it is considered the first real-world transaction using bitcoin as a medium of exchange.

“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe two large ones, so I have some leftover for the next day — I like having leftover pizza to nibble on later,” explained Hanyecz.

You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!

It Took Two Days for Someone to Accept the 10,000 BTC for Pizza Offer

After Hanyecz had published his post, a few bitcoin enthusiasts talked about making the trade with him. A couple of people contemplated a few ways they could get the pizza to Hanyecz who was living in Florida at the time. A whole day passed, and Hanyecz writes “So nobody wants to buy me a pizza? — Is the bitcoin amount I’m offering too low?”

I just think it would be interesting if I could say that I paid for a pizza in bitcoins   

Another 24 hours later Hanyecz announces that a successful transaction was made thanks to a user named “Jercos.” “I just want to report that I successfully traded 10,000 bitcoins for pizza,” the developer tells people on the thread. A few commenters thought it was great the exchange happened and congratulated Hanyecz that day. The 73-page thread discussion has been kept alive for years, with people commenting on how expensive the pizzas became as time had passed.

‘It Wasn’t Like Bitcoins Had Value Back Then’

Bitcoin Pizza Day: Reliving the Memories and Forging New Ones Years later the transaction is considered one of the greatest moments in Bitcoin history and the two pizzas purchased for $25 USD is now worth over $20 million. Hanyecz did an interview with the New York Times a few years later reminiscing about the infamous day.

“It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz told the publication.

Today as bitcoiners celebrate Bitcoin Pizza Day they’ll always wonder how those pizza’s tasted and whether or not Hanyecz really doesn’t regret eating the most expensive pizzas sold on the planet. As long as the pizza didn’t have weird toppings like fish, Hanyecz was pleased with his decision to offer 10,000 BTC for two pies.

“I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire,” Hanyecz said at the time.

Celebrating This Year’s Festivities

There will be a lot of people enjoying Bitcoin Pizza Day in 2017 as the decentralized currency is more popular than ever before. There are businesses such as the Bitcoin Store featuring specialty pizza-themed goods, and some merchants are offering discounts like the artist Satoshi Gallery.

Additionally, the German-based bitcoin banking startup Bitwala recently started a campaign so the cryptocurrency community can donate pizza slices using bitcoin to refugee kids in Berlin. All the proceeds will go to Champions Ohne Grenzen, a Berlin-based NGO that works with children. Every week they hold football training sessions with qualified coaches to empower kids and help them overcome trauma. People from all around the world sent in their donations and the money received will help provide more than 100 slices to the refugee children.

“The fact that someone halfway around the world can have pizza delivered to war fleeing refugees without having to enter credit card info is a great and humane way to explain the power of bitcoin,” explained Bitwala’s CEO Jörg von Minckwitz.

What do you think about the two pizzas sold for 10,000 BTC? Would you have regretted this decision now? Let us know what you think in the comments below.

Bitcoin’s Meteoric Price Rise to the Moon Going toward $3000

On May 20, 2017, the price of bitcoin reached the US$2000 line at the bitcoin exchange Bitstamp. The decentralized currency’s meteoric rise in value has captured a phenomenal $32 billion dollar market capitalization after eight tremendous years of growth.

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Bitcoin Has Broken So Many Records in 2017 It’s Hard to Keep Track

2017 has been an unbelievable year for cryptocurrency enthusiasts as they’ve watched bitcoin cross milestone after milestone. The digital asset is becoming widely known as a strong hedge against the turbulent global economy that continues to sink further every day. Many citizens from all around the world are clearly choosing bitcoin to hedge their wealth from deteriorating and to move their money however they see fit. This can be seen in countries like China, Japan, India, Venezuela, Russia, and more.

Bitcoin Meteoric Price Rise to the Moon Breaks Past $2K
Bitcoin breaks $2000 on May 20, 2017.

Some of the momentous feats Bitcoin has reached this year include global trade volume topping over $1 billion USD worth of trades daily. Bitcoin’s hashrate has reached a whopping 4.2 exahash per second encouraged by the mining revenue that has also crossed an all-time high. The decentralized currency’s daily transaction rate is higher than ever before with over 326,000 transactions per day. Bitcoin has crushed nearly all of its records over the past four months and doesn’t seem to be slowing up.

Mainstream Media Loves Bitcoin

Mainstream media has been awfully kind to bitcoin as friendly headlines from publications like the New York Times, Bloomberg, Fortune, Time Magazine, and many others have shown bitcoin in a positive light. The articles are very different from the editorials in the past calling bitcoin doomed, dead, worthless, tulip mania, and yes even beanie babies. Now mainstream media is calling bitcoin worthy of an investor’s portfolio, a “safe haven,” “store of value,” “digital gold,” and many other kind words.

Eight Years of Great Memories Without Asking Permission

The $2000 price is just shy of two days before the infamous pizza day where a pie from Papa Johns was sold for 10,000 bitcoins ($20M USD). Furthermore many bitcoiners can still remember the days when bitcoin reached parity with the U.S. dollar, silver, and this year surpassing 1oz of solid gold. Bitcoin has been in the movies, in songs, books, television shows, and even on the Simpsons.

Bitcoin Meteoric Price Rise to the Moon Breaks Past $2K
Think bigger. $2000 bitcoin is not Moon.

Overall bitcoin has had a very memorable life over the course of its short existence of only eight years. Many people, businesses, corporations, governments and think tanks mocked bitcoin and said it would never last, but now the digital currency is stronger than ever. Bitcoin has accomplished all of this without any rulers and has allowed people the ability to do what they want with their money without asking permission.

What do you think about bitcoin’s price reaching $2000? Let us know in the comments below.