What’s new on Bitcoin Market?

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Bitcoin continues taking over the world. Nexter team sums up what you might miss this week October 24-31.

1. Bitcoin record highs

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Source: coindesk.com

Bitcoin hit a new record – $6,600 price was announced at 11 A.M. GMT, rising by over 500% against the dollar. The digital currency price was climbing above $6,300 and then reached its highest point.

This bitcoin boom has led to a new rise to the bull run for the cryptocurrency.

2. Happy Birthday, Bitcoin!

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Source: crypto-.net

It has been 9 years since Satoshi Nakamoto announced the bitcoin whitepaper “Peer-to-Peer Electronic Cash System”. You can read it here.

Can you imagine that the price of Bitcoin has increased from a penny to $6.600 over almost a decade?

3. The SegWit2x software update  

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Source: gesellberg.com

The update of The SegWit2x – an alternative bitcoin software – is on November 16. Take into account that BitPay is going to suspend receiving and sending of the payments during the software update.

Results:

  • This update can lead to the splitting of the bitcoin in two new digital currencies, both with different rules and unique cryptocurrencies.
  • The blockchain will function featuring bigger blocks.
  • The Segwit2x’s are the rules of bitcoin. No changes in Bitcoin’s rules.
  • On the date of the update, the users on the block 494,784 won’t be able to run a software.

4. Bitcoin spreading world-wide

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Source: cointelegraph.com

1) Zimbabwe digital currency revolution

According to Bitcoin.com, the price of Golix Bitcoin has reached $9950 in Zimbabwe. The citizens are planning to access international market with the help of Bitcoin.

The reason is the inability to conduct transactions outside the country. Thus people have found an alternative way to send money abroad.

2) Iranian Bitcoin system

Iranian government is preparing to use Bitcoin inside the country. Previously, they conducted the researchers regarding infrastructure and its ability to integrate Bitcoin inside Iran.

5. Nexter personal story

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Source: qzprod.files

The member of Nexter team, Vasel from Chicago, has shared his personal ‘love’ story with Bitcoin.

‘I have learned about Bicton in 2009 as I was always interested in new technologies. However, I have left this startup on the first stages of its development’, Vasel said.

‘In 7 years I heard about it again and was in shock how much Bitcoin cost! Luckily for me, I went to three-day lectures and learned more about digital currencies. Then I created a purse and start earning money on it’.

Vasel took it for the rule to invest 5-10% of his income into cryptocurrency.

‘The majority of people still don’t believe in cryptocurrencies and have no idea how to use them and how this system is arranged. I think it’s quite a normal thing for our world. When they invented cars, a great part of the humanity claimed they didn’t need to use these strange iron fuming boxes on wheels. But look at them now!’

The majority have always been against new technologies and innovations. Only a small percentage of people is taking a risk and changing the whole world for the better.

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