Skip to content

Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings

Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings

Online classifieds and community website, Gumtree South Africa, has reported a significant increase in the number of listings posted specifically asking to trade items for bitcoin. In particular, the website reports a proliferation in the number of listings for luxury vehicles that are asking for bitcoin as payment.

Also Read: Markets Update: The Top 68 Cryptos Dive During the January Slump

Gumtree South Africa Reports Significant Increase in Luxury Items Listed in Exchange for Bitcoins

Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin ListingsThe head of marketing for Gumtree South Africa, Claire Cobbledick, has attested to the proliferation of listings requesting payment in the form of bitcoin on the peer-to-peer online marketplace. Mrs. Cobbledick told local media that “There’s been an increase in swaps and Bitcoin-only sales on Gumtree.co.za.”

Mrs. Cobbledick stated that the majority of the listings are for highly valuable “high-value items like cars, bikes, and boats.” She attributes the trend to that the allure of the astonishing gains witnessed by bitcoin in recent months, stating that “Many sellers are willing to take a gamble with their assets in hopes of a large payout.” Mrs. Cobbledick adds that “Bitcoin is a volatile currency, so while you could easily see a 50% increase in your investment, you could just as easily end up with nothing.”

At present, local media reports that a number of high-end vehicles are listed on the South African gumtree website in exchange for bitcoin, including “a Land Rover Defender, BMW X5, and a 1970 Mercury Cougar V8.” Mrs. Cobbledick states that “There are also sellers accepting Bitcoin in exchange for Krugerrands” – coins made out of a copper gold-alloy that were introduced in South Africa in 1967 as a vehicle for the private ownership of gold.

Bitcoin-Only Listings for Luxury Car Sales Increases Globally

Gumtree South Africa Reports Increase in High-Ticket Listings Requesting BitcoinThe number of high ticket items being listed in exchange for bitcoin has dramatically increased in recent years. Currently, Spendbitcoins.com lists 28 car dealerships worldwide that accept payments in bitcoin – including those specializing in luxury brands such as Land Rover and Lamborghini.

Outside of vehicles, 2017 witnessed a significant proliferation in the number of real estate listings requesting bitcoin as a means of payments – however, many of said listings appear to have motivated by marketing considerations following the increased media coverage surrounding all things bitcoin last year, as very few of the property listing requesting bitcoin appearing to have been finalized using cryptocurrencies.

Have your sold any goods for cryptocurrencies? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


Need to calculate your bitcoin holdings? Check our tools section.

The post Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings appeared first on Bitcoin News.

Blockstream Launches Micropayments Processing System for Bitcoin Apps

Bitcoin startup Blockstream has introduced a micropayment processing system that it claims makes it simpler to build bitcoin payment apps.

The BitConnect Ponzi Scheme has Finally Collapsed as Exit Scam Becomes Evident

With all cryptocurrency markets tanking in value, it is evident there will be some big changes. More specifically, some currencies are all but crashing to the ground as we speak. BitConnect, the infamous Ponzi Scheme, is finally meeting its demise, by the look of things. Thanks to the recent price declines, the value of BCC dropped by over 80%. Moreover, the native exchange has closed its doors and the subReddit is turned to private. Good riddance, according to many cryptocurrency enthusiasts.

It was only a matter of time until BitConnect would finally collapse. Thousands of people bought into this scam and some of them may have even made money. Most users, however, probably never got their money out of this program whatsoever. That is only normal, as over 95% of all trades were conducted on the native BCC exchange. When a currency’s developers also run the main exchange, you know things are not always going to end well.

Curtain Call for BitConnect

To put this into perspective, the BitConnect price has dropped by a lot. Over the past week, it went from nearly $400 all the way to $27. Such a steep decline seems to confirm the developers finally completed their grand exit scam. It is also possible they used the ‘stolen” Bitcoins to crash the current market. Whether or not that latter part is a conspiracy theory or the sheer reality, remains to be seen. It is evident the BCC exchange had access to a lot of BTC, though. Either way, it seems this Ponzi Scheme is gone for good, which can only be considered to be a good thing.

Furthermore, it seems the project’s subReddit is no longer accessible. Rather than leaving it open to the public, it is now completely private. No one who isn’t “approved” can’t access this subreddit or see what is being posted there. A very worrisome turn of events for the people still waiting to get their money out. They were warned dozens of times about this Ponzi Scheme, though. Anyone who lost money due to BitConnect only has themselves to blame. It is a harsh reality, but that’s what people get for falling for snake oil practices.

For now, it is unclear what the future will hold. It seems the BCC Exchange has also shut its doors for now. This is more evidence of the nefarious nature of this particular “investment program”. It is a matter of time until the other exchanges remove BCC from their platform, by the look of things. We can only hope not too many people lost money because of BitConnect. At the same time, it seems likely the team ran off with a few dozen million Dollars in the end.

The post The BitConnect Ponzi Scheme has Finally Collapsed as Exit Scam Becomes Evident appeared first on NewsBTC.

Ripple’s Image Not Protected from Market Sell-Off

ripple cryptocurrency making money

Value continues to drop maniacally with market-wide sales regardless of name. South Korea’s impending ban of the digital currencies would destroy an environment that found success late in 2017 because of the same nation. It remains a question as to how, when, and to what extent a ban would affect trading, but the negative atmosphere is scaring off investors.

The American market played into a late downturn for countless tokens at the end of 2017. Wall Street’s skeptical view of cryptocurrency led to a number of traditional investors to abandon ship before the regulation-less market felt the squeeze. That time has now come as regulations and complete bans are being handed down via different avenues.

One of the star coins during the first way of sell-offs in December was Ripple (XRP). The token which acts as a transfer vehicle for prominent financial institutions climbed to all-time highs while Bitcoin, Litecoin, and many others were plague by downward trends. Starting 2017 with a value of slightly more than half a cent per token, XRP closed out the calendar year beyond $2.25.

Carrying a spike to start 2018, value has beyond settled. Ripple is a part of the massive freefall effecting nearly the entire market. The entire crypto market has seen a loss in value of over $250 billion. Just two coins (Tether (USDT) and Siacoin (SC)) increased their value on Tuesday. Ripple, which had held firm during previous downturn, fell nearly nearly 17% over the same 24-hour period.

Market downturn has been a part of cryptocurrency and will continue to be until tokens have mass utility. Extreme volatility in coin values is one of the initial deterrents for investors entering the market. However, Ripple’s ability to withstand widespread troubles post-price rise had not only traders optimistic, but creators as well. The extensive positive trend in value had Ripple rethinking its internal market strategy with an eye on consumer-retail. Bitcoin holds the strongest grasp on chances of becoming a daily tender. Ripple felt a brief stint of success may have been enough to rethink their original mindset.

Ripple presently stands apart of many cryptocurrencies because it holds greater tangible use in the present. A speculative market can be overturned by actual substance, and that is why Ripple rapidly rose up the charts. However, the token’s recent downturn has shown that it is still just a single fish in a large pond.

The post Ripple’s Image Not Protected from Market Sell-Off appeared first on Ethereum World News.

Bitcoin Price Analysis: Bitcoin Sees Lower Lows as It Drops Below Historic Support

Bitcoin Price Analysis

Over the last couple months, we’ve been tracking a potential Distribution Trading Range at the top of bitcoin’s market cycle. Today, we have received higher confidence that bitcoin may have topped out. At around 3:00 p.m. EST, bitcoin broke through the bottom of the trading range and is now seeing aggressive selling as long positions begin to close and short positions begin to open. Today marks the first day of lower lows since bitcoin topped out around $20,000:

Figure_1.JPGFigure 1: BTC-USD, 4-Hour Candles, Distribution Trading Range

Bitcoin managed to blow through several milestones including both the parabolic and the linear trends. The linear and parabolic trends have been guiding trends for the last three years, and today bitcoin has broken parabolic support. It could get ugly:

Figure_2.JPGFigure 2: BTC-USD, 1-Day Candles, Macro Trend

What was once strong support has now become resistance as bitcoin scrambles to find a bottom. We can see quite clearly there is a line of support around $10,000 where the macro Fibonacci retracement values for the 50% retracement line exist. Any downward continuation will likely be supported in the interim. However, it’s fair to say that bitcoin is beginning a new downward trend. As stated earlier, today marks the first day of lower highs and lower lows — i.e., a downtrend.

So where does the bottom lie? That remains to be seen. What is clear, however, is that there was a systematic distribution of bitcoin from large players to the masses; and now we are beginning the next phase of the market cycle — the markdown phase. Will it be a sustained markdown? It’s too early to tell at the moment, so we will have to play it by ear.

Bitcoin is a long-time fan of violent drops and violent bounces, so it’s unclear how this downtrend will terminate. For now, I highly recommend traders stay away from smaller time frames and focus more on the macro view of things.

As we come to test the macro 50% retracement values, it’s important to view how the market responds and see how the volume reacts. If we don’t see strong follow-through on a bounce from the 50%, there could be a strong bearish continuation in its future. Volume is your friend and confirms the trend. If you don’t see strong volume following an upward bounce, it’s entirely possible you could get stuck in a bull trap — and no one wants that.

Bull traps are designed to lure aggressive bulls into long positions prematurely to create liquidity for the bearish investors in the market. If you are unsure of what direction the market is moving, there is nothing wrong with sitting out.

Summary:

  1. A potential markdown phase is under way as bitcoin sees aggressive selling pressure.

  2. Today marks the first day of lower lows in weeks and marks a potential macro downtrend.

  3. Support will likely be found at the $10,000 values, which coincide with the 50% macro Fibonacci retracement values.


Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

This article originally appeared on Bitcoin Magazine.

KODAKCoin to be the first token launched on tZERO’s security platform

Overstock.com’s blockchain subsidiary, t0.com, Inc. (tZERO) announced today its intent to provide advisory services to WENN Digital in connection with its recently announced KODAKCoin Security Token Offering. In…

KODAKCoin to be the first token launched on tZERO’s security platform was published on CryptoNinjas.

Bitcoin Price Analysis – The current bullish pennant

After finishing 2017 up ~1300%, Bitcoin (BTC) is down from all time highs. The cryptocurrency’s market cap now stands at US$229 billion, with US$3.95 billion traded in the past 24 hours. Trading volume should begin to increase again as traders return from their year end celebrations.

Pineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic Drug

Pineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic Drug

The bitcoin charity Pineapple Fund has already donated $1 million to aid in the testing of MDMA as a treatment for PTSD. It is now challenging the cryptocurrency community to donate more, and pledged to match donations up to $4 million.

Also Read: Pineapple Fund Donates $5 Million in Bitcoin as Seed Capital for the Poor

Curing PTSD with MDMA

Pineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic DrugPineapple Fund, the $86 million bitcoin charity, has announced it will double the value of every donation to the Multidisciplinary Association for Psychedelic Studies (MAPS) until March 10th, up to $4 million. This is meant to help the non-profit research organization reach its funding goal needed to begin Phase 3 clinical trials of MDMA-assisted psychotherapy in patients with severe post-traumatic stress disorder (PTSD). The pledge comes after the fund has already donated $1 million to this endeavor.

Pine, the anonymous bitcoin whale behind the fund, commented: “I believe we, the cryptocurrency community, can fully fund Phase 3 trials. Prescription MDMA could be a gift to this world from the bitcoin community. Let’s make MDMA medicine a reality, and give the gift of an enjoyable life to those suffering from PTSD. If you believe that psychedelic drugs can have incredible therapeutic potential, then I believe this is one of the highest impact projects today.”

New Money, New Ideas

Pineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic DrugThis donation shows another example of how, the redistribution of wealth from old money to early adopters of technology via the rise of bitcoin is creating a positive change in the world.

Mainly known as an illicit party drug under the names Ecstasy, Molly and others, MDMA still doesn’t have any accepted medical applications and is deemed illegal for personal use in most countries. While some established charities would have difficulties associating themselves or their donors with such an experiment, a fund created by an anonymous person will have no such qualms.

Other recent Pineapple Fund donation recipients include: Quill, which got $1 million to help them develop a new open source educational model that teaches kids critical thinking and science comprehension; Possible, an organization delivering integrated and scalable healthcare in Nepal which also got $1 million; Software Freedom Conservancy, home to projects like Git, Homebrew, QEMU, and Selenium; and Wings for Conservation, which is providing aerial support against elephant poachers in Chad. Last month the fund also donated $5 million to test universal basic income in Africa.

What other good causes should the bitcoin community should get behind? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Pineapple Will Match up to $4M in Bitcoin to Test Curing PTSD With Psychedelic Drug appeared first on Bitcoin News.

Blockchain for Dummies, sorry, for Idiots.

5 reasons why a mainstream blockchain product is the next big thing:

All the buzz and noise about Bitcoin in this last year has made me understand one thing: I must start earning in crypto. Maybe some of you readers are big, smart asses and you have your impressive portfolio of investments.

But I am in my early 30’s after a divorce that didn’t leave me much, I don’t even have the smallest amount to invest and enjoy this world of crypto and blockchain. I only have my skills, which I will tell you more about later, and I guess that like me- there are many, many millions out there in the world.

So, I went out searching for the perfect blockchain product, platform, or ICO, and I promised to myself (and to my new girlfriend that was impressed by my knowledge in crypto) that I’m not coming back without the perfect guide, and at least 1 or 2 findings.

As someone that studied and assessed the crypto and blockchain space deeply in the last year (one of my strongest abilities) and read almost every piece of information, watched all the leading Youtubers and Webinars in the crypto world and investigated dozens of startups in this sphere, or ICOs, I understand one thing; “The king is pretty much naked.”

So, I’m here to talk about the fact that most of the projects seem massive and unclear.

Most of these crypto projects don’t even have any existing products, and it all sounds so complicated. It’s exactly what I don’t need, and I recommend for you to follow my lead in getting involved in mainstream blockchain products. That is how I came up with the brilliant headline of this article.

After all, blockchain and crypto should make our lives better, open our lives to new opportunities, and really ease the transfer of payments and information. The accessibility level should be increased, so why the hell is it so complicated and not user-friendly? Why can’t I start earning in crypto tomorrow?

So, in this pile of noise and clutter, I definitely found some pearls of wisdom that made sense and fit the simplicity and rationality I was looking for. Two platforms that easily integrate crypto into daily life are Steemit and Vanywhere. Steemit is an existing content-driven medium that allows users to earn crypto for their submissions. If you have a knack for creating content, it could be a good platform for you. By submitting original work related to different topics, users can become of the community.

Secondly, Vanywhere is a soon to be launched skill-sharing platform that enables Skillers to earn in crypto, that is simplified and accessible, even for crypto beginners. Vanywhere has found a way to break the barriers of complicated entryways for cryptocurrency simply by creating a platform where you can share your skills in different verticals like cooking, styling, yoga, etc. All you need to start earning in crypto on the app are your skills or subjects that you’re very well informed about. Additionally, users can become part of the platform by seeking out “Skillers”, whether you need assistance from top travel influencers to cryptocurrency enthusiasts. The Skillers and users interact through live video, voice call, or chat, and Skillers are paid in digital currency. For instance, I have become somewhat of a crypto expert and I’ve also developed impressive cooking skills. Both of these skills are showcased on Vanywhere. Also, the app is seamless and has its own token called VANY which offer perks for users and rely on an ecosystem. The market capital for these products are out of this world, and I feel a bit embarrassed for not recognizing the potential beforehand. These platforms have found a way to bridge the gap between technology and crypto, and extend into functions of daily life.

To summarize, here are the top 5 ways that mainstream blockchain products will be the next big thing:

  1. Anyone with a skill or marketable ability can start earning crypto
  2. You don’t need to invest in cryptocurrency to actually start earning it
  3. Easy, simple technology make the platforms efficient and user-friendly
  4. Soft entrance to the crypto community with other like-minded users
  5. Finally, something you can use and understand that doesn’t make you feel dumbfounded about this whole crypto, blockchain phenomenon

Simplifying and “idiot-proofing” these processes will make it easy for everyone to start earning crypto and expand into the world of digital currency. Blockchain products for dummies are the next big thing.

Vanywhere.com– The Vanywhere token sale will take place in Q1 2018.
Steemit.com– Steemit’s platform is currently available.

About the author: The author is a freelancer and a crypto-enthusiast who is interested in finding new ways to secure gigs and get paid in cryptocurrencies instead of fiat.  Disclaimer:  The statements, views, and opinions expressed in this column are solely those of the author and do not necessarily represent those of NewsBTC.

The post Blockchain for Dummies, sorry, for Idiots. appeared first on NewsBTC.

Ethereum Blockchain Processes Over $23bn in Transactions Over the Past 24 Hours

Comparing different blockchain-based ecosystems usually makes no sense whatsoever. It feels like comparing apples to oranges and grapes. In the cryptocurrency world, however, there are some interesting metrics worth keeping an eye on. Over the past 24 hours, it seems the Ethereum blockchain helped transfer just over $23bn. This is almost as much as Bitcoin, BitcoinC ash, Litecoin, Dash, BTG, and ETC combined. An interesting development, although not all blockchains can be traded in this regard.

Every blockchain is capable of processing transactions and moving financial value from one user to the next. In the cryptocurrency world, that is a requirement to ensure the network has any value at all. Ethereum has suddenly become a very popular solution to transfer value. So much even that it processes almost as much value as six other top cryptocurrencies combined. Whereas many people assume Bitcoin is the king of the hill, that is not the case in this regard. An interesting development, although it’s important to put things into perspective.

Another Good day for the Ethereum Blockchain

More specifically, Ethereum’s value transfer doesn’t pertain just to ETH transactions. It also includes all of the ERC20 tokens issued on this blockchain. That means the numbers are skewed a bit, although not by all that much. The key factor is how this blockchain handles $24bn worth of volume over a 24-hour period without too many problems. Bitcoin, on the other hand, is still more expensive and a lot slower, even though it remains very popular. Ethereum’s value transferred in the past 24 hours is bigger than Bitcoin’s, which is not all that uncommon.

However, when adding the value transferred by other blockchains on top of Bitcoin’s, it’s not much higher than Ethereum’s throughput. For many people, this is a key indicator of how Ethereum will overtake Bitcoin at some point. Such a scenario is not entirely impossible, although it may not happen anytime soon either. Comparing the value transferred over individual blockchains is always a snapshot at an opportune time. These statistics can look very different a day or week from right now, for all we know.

As such, it is difficult to draw any conclusion based on this fortunate snapshot. The demand for Ethereum-based value transfer solutions is certainly there. It’s cheaper to use, works better, and is faster. At the same time, it also encompasses a lot of tokens rather than Ether itself. How all of this will play out in the future is impossible to predict right now. With proper scaling, this blockchain will certainly become even more popular in the coming years.

Header image courtesy of Shutterstock

The post Ethereum Blockchain Processes Over $23bn in Transactions Over the Past 24 Hours appeared first on NewsBTC.