Bitcoin

Bitcoin is Splitting into Core (BTC) and Unlimited (BTU)

Bitcoin is splitting between BTC and BTU. BTC is Bitcoin Core and BTU is Bitcoin Unlimited. 

Why is Bitcoin splitting? Bitcoin is splitting because it is growing in use and popularity. It is considered normal that new technologies go through such growing pains. Put simply, Bitcoin is approaching a technical limit (1MB block size).This poses issues about how the system can handle more transactions. For years, the Bitcoin community had been discussing how to solve it.

Might Bitcoin shoot  upwards?

Looking at the last few months, comparing the exchange rates between Bitcoin, the Australian dollar, the Euro and the US Dollar, as well as the news in India, Europe and China, there is tension visible on the trading charts. 

Traders and investors seem to be jostling for positions and placing their bets. It seems optimistic to me. There's a heightened probability that Bitcoin is about to strongly push above its current price.

The European Central Bank Wants Tighter Control over Bitcoin

According to an article (link below) : "The European Central Bank (ECB) has proposed a directive of the European Parliament and of the Council stating that ‘virtual currencies do not qualify as currencies from a Union perspective,’ and wants digital currencies to be explicitly defined as not legal currencies or money... the use of digital currencies, such as bitcoin, pose a threat as terrorists and criminal groups are able to transfer money within digital currency networks with a certain level of anonymity."

Because of this, the ECB is discouraging the promotion of Bitcoin.  

Bitcoin Vs AUD as at 16 June 2016

I heard about Bitcoin around 2012 but I just sat and waited to see if I would hear more of it. 

I really got interested about Bitcoin when I heard an interview of an entrepreneur starting a business providing Bitcoin services and his reasons for why it is a good currency. 

Bitcoin is a long term play for me. By long term, I mean one, two or three decades. It is not something I want to trade on a weekly, let alone daily basis. The spreads are too far apart in relation to its daily movements. 

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