Quickbit Bitcoin, DIgital Currency & Blockchain Blog

Bitcoin 12 th November Post 2017 Bitcoin reached an all-time high on Wednesday the 8 th November at over $10,250 AUD. There is a lot of speculation as to what drove it to this level. It seems that there are a few factors that may be involved. The upcoming contentious hard fork 2X is now possibly cancelled (but we’ll have to wait and see as Bitpico is saying that they will still introduce the code and some others are speculating that others may still introduce the code). We may have seen new money enter the market with the prospect of a coin split and possibly new value on a 2X chain.    FOMO (Fear Of Missing Out) as the price rose. The announcement that CME group will be introducing a Bitcoin Reference Rate BRR & a Bitcoin Real Time Index BRTI as instruments to track the flow of major Bitcoin exchanges and calculate a once a day Bitcoin price relative to the US dollar & the real-time price by aggregating global buy/ sell orders. These metrics and independen

Bitcoin here it comes. Here we go again on the next rise, to where? If we follow the history of Bitcoin, we will see that we are riding what looks like a next wave of adoption and value absorption. The price is hitting $6643AUD ($5191USD) and looks strong at the moment, with a $600+ increase in the last day. this is a significant amount overnight. Look back on past price spikes and consolidations, it looks like this next surge will push over $6000 USD soon with a pull back before November with the coming contentious hard fork. Who knows though there might be a bull run all the way through to the contentious hard fork right? The market is fantastically volatile and that is the attraction to the digital asset space 20% spikes overnight, exponential growth curves and some catastrophic pump and dump project/ scams. There is so much contention in this technology space as rival development projects jocky for market share and dominance. The exciting thing about this space is that it is

Digital Asset Future why is 1 BTC worth over $6000 AUD? Bitcoin? Ethereum? DASH? Litecoin? Ripple?(devil coin-bullshit-bankcoin), Bitcoin Cash? Monero? etc. are all part of the new ecosystem of digital value transfer, with currencies, stores of value, smart contracts, value tokens and more.. There has been a boom in digital assets and more are coming everyday, how do you determine which will survive & which ones are scams or will die off? It's hard to tell, but there are some key considerations to look at when trying to determine where to invest your money. Where to start? Easy where it all began; With Bitcoin. Why? because it is the first, has the longest chain, has proved over time to be the most robust, has the most value tied into it, is a trading pair with all alt coins and has the first mover advantage with the largest network and network effects. There are other reasons also, having been around the longest the bitcoin blockchain and ecosystem has develope

Bitcoin Hard Fork August 1st Bitcoin will see the activation of SEGWIT and a blockchain split/ HARD FORK into Bitcoin BTC & Bitcoin Cash BCC. The key at this point is to control your own Bitcoin and to keep it in YOUR OWN WALLET. Take your Bitcoin off any exchange, if you leave your coin on an exchange you will have no say as to whether you will or won't be entitled to Bitcoin on each chain as the exchange will determine this for you.  Some exchanges will support both Bitcoin & Bitcoin Cash, some won't support Bitcoin Cash. It is important if  you want choice to control your own Bitcoins then you will need to take positive control. The reality is that the market will determine the outcome with the utility that each digital asset will provide. Ultimately I believe there will be a permanent split and as a user of Bitcoin it is in your best interest to have BOTH assets on both chains to position yourself better in the future. As the operator of Quickbit Bit

Bitcoin Price Ignition The market has re-ignited after the uncertainty of UASF BIP148 has been somewhat resolved & the start of BIP91, BIP141 and SEGWIT. The miners have locked in BIP91 and it looks like SEGWIT will activate in the next few weeks. The pressure of the User Activated Soft Fork is 'forcing' a path forward one way or another. In summary the signalling from the miners in the last two days has strengthened the Bitcoin price. SEGWIT2X hardfork is on the horizon 18th November and there are so many things that may happen we will just have to wait. There is a great video by Jimmy Song, Ivan on Tech & Michael from Box Mining that explains the above click here to watch the video on YouTube The price has neared the last market peak and it looks like it may cross the $3000 USD price very soon, possibly before 1st August in a price run before the uncertainty of implementation.  Initially I had projected a $3000 price by the December 2017, but it looks

Digital Asset Ice Age Digital Asset Ice Age Most digital assets & currencies have fallen back in price and this was to be expected. The cooling off period will not last long.  There are a few factors that are coming into play at the moment such as; The move from Proof Of Work to Proof Of Stake in Ethereum could lead to another fork,  The implementation of BIP148 in Bitcoin, The search for delivery and transfer of value globally and without friction  Services waiting to come online from projects and companies, There has been market manipulation with selling across the entire market systematically with profit taking across the whole market.   This cooling of prices is cyclic and part of every economy as it evolves, the question is how low will the prices of assets go before the next wave of buy in and adoption. Some of the really interesting things coming out of the digital asset space is that we are seeing people globally transferring value using digital assets. We ar