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Bitcoin’s back at it again with a major boost crossing $4,000.

Image credits: Bitcoin.com

 

It’s really become a routine for bitcoin owners to wake up to a different price almost every day.

The price of bitcoin has been a bit stationery ever since China regulators announced a ban on ICOs and shut down of BTCChina by October. It tumbled down to $3,700 from $4,000 and remained in that range for the past two weeks.

But, now with the price coming around $4,050 and rising, it’s not too early to say that Bitcoin is back in the game. There hasn’t been an instance where bitcoin has failed to make a come-back and this was definitely one of those times.

So, what’s prompted this latest rally? It’s possible that the speculation of China’s exchange shut down is just temporary, especially since it was never formally announced. But regardless, this just proves that Bitcoin can survive without China and is resistant to the activities of a country.

Next stop, $5,000?

The bitcoin rally we experienced on Wednesday has assured several Bitcoin analysts and traders that if the current upward descent is maintained, we might see a $5,000 hit soon.

A well-known bitcoin trader and investor, Tuur Demeester, also distinguished that if the trading volume in Japan, South Korea, Europe and the US sustains, we could be in for another strong rally in the near future.

News Credits: steemit.com

Tags: Bitcoin news

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Samsung Electronics Considers Blockchain For Tracking Its Global Shipments

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Samsung, which is best known for manufacturing electronics is taking blockchain platform in its consideration to track the shipments of its immense global supply chain network. According to this Samsung global news, it is considering an extensive implementation of a blockchain ledger platform so that it can track its shipments, globally.

blockchain and supply chain

Song Kwang-woo, who is the blockchain chief at the IT subsidiary of the Samsung, Samsung SDS, unveiled it while speaking to Bloomberg that a blockchain system could cut the shipping costs by 20%. Conspicuously, Kwang-woo also ensured that SDS is currently working on the development of blockchain platform for Samsung Electronics.

Involvement in Blockchain Technology

SDS has demonstrated its involvement in the implementation of blockchain technology for the shipping industry, effectively finishing a 7-month trial-project to track and record shipping logistics of both imports and exports in the vast shipping industry of Korea by the end of the year, 2017.

Related to the blockchain and supply chain collaboration, Kwang-woo also added:

“It will have an enormous impact on the supply chains of manufacturing industries. The blockchain is a core platform to fuel our digital transformation.”

SDS introduced a blockchain pilot for a shipping industry of Korea, in May 2017, so that it could keep an eye on the imports and exports of cargo shipments in real-time by leading an association, which included:

  • Korean Ministry of Oceans and Fisheries
  • Hyundai Merchant Marine
  • IBM, which is considered as a technology giant.
  • Korea Customs Service

 

Also known as a member of the EEA (Enterprise Ethereum Alliance), Samsung SDS successfully accomplished its first pilot-run of a shipment that perceived the whole procedure of a shipment, as well as delivery and booking, from Korea to China. As it’s also mentioned above, SDS settled its trial by the end of 2017 that eventually intended to handle all exports and imports in Korea via blockchain.

The metropolitan government of the capital city of South Korea, Seoul, chose Samsung SDS in November 2017, to develop a roadmap and organize blockchain technology to the whole administration of the city, as a method to advance transparency and boost citizen expediency. The government of Seoul has formally announced its purpose that by 2022, it would utilize blockchain technology across the whole municipal administration.

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A Hard Drive Worth $75 Million That Won’t Recover

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James Howells, the IT laborer who unwittingly disposed of a hard drive containing what is currently valued at around $75 million worth of bitcoin, knows where the missing hard drive is, but he can’t try to recover it. That’s because the city in which the fortune is covered won’t enable him to delve into the landfill.

The missing hard drive is sitting somewhere under 200,000 tons of junk in a Newport, South Wales landfill.

Howells used an old PC to mine a sum of 7,500 bitcoins in 2009. Presently, he sold the parts to the Dell M1710 on eBay after his girlfriend complained about the mining’s clamor. He kept the hard drive in a cabinet, just in case the bitcoins increased in esteem. However, he overlooked the hard drive, and after four years, he disposed of it with the trash.

Howells has not been able to get consent from city chamber to dig into the landfill to recover the hard drive. Doing as such would require particular hardware that is typically used as a part of criminal examinations.

He was informed that a situation where even the police needed to go digging would require a group of 15, incorporating diggers with compulsory personal protection equipment. He couldn’t reserve such an operation, so he set up a wallet for donations:

https://twitter.com/howelzy/status/405690499593699328

City Council Denies Permission:

A Newport City Council representative said somebody has reached them in the past about recovering IT equipment containing bitcoins, but the chamber has shied away because of the expenses of uncovering the landfill and treating the trash, as per Wired. Such an exertion would cost millions and be environmentally destructive, with no assurance that a working drive would be recuperated. Around 50,000 tons of waste is added to the landfill every year.

A city chamber representative said the drive has likely experienced genuine galvanic corrosion from landfill leachates and gases. The landfill isn’t open to the public use.

Howells has the public address for his bitcoin, so he knows the bitcoins have not been moved. Since the information is encrypted, any individual who finds the hard drive would require Howells’ assistance to get to it.

 

Story credits: ccn.com

Image: Google images

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Will Pantera Fund Succeed, Even if Bitcoin Flops?

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As the first U.S. Bitcoin investment firm, Pantera Capital mainly focuses on tokens and projects related to crypto assets. Its chief executive officer, Dan Morehead (CEO) recently claimed that even if bitcoin fails, the Pantera fund would still not disappoint the crypto investors and they would continue to make money.

The above-mentioned words of Morehead were a part of his statement, which was included in a letter sent to Pantera’s investors. According to Dan Morehead in case any bad luck they could even make use of Pantera’s ICO Fund. Though Pantera´s ICO Fund lost about 25 percent of its value last year, it is still up more than 200 percent of its value since its creation. Pantera Capital is famous for exploring and growing digital coin ventures.

pantera fund

Facts behind Pantera’s Success Strategy

After its huge success with Bitcoin, Pantera has expanded its mode of investments to buy other digital tokens. Most prominent one of these is the Pantera Digital Asset fund, which currently holds 25 cryptocurrencies. Many of these tokens were introduced through the ICOs (initial coin offerings).

Advice For The Investors

A letter was sent to the investors by Morehead in which it was noted that if bitcoin fails, the hedge will still work well. Taking an example of Pantera’s ICO Fund, he highlighted that it’s going to be still positive for them. In his letter, Dan Morehead, advised investors to have 1 or 2 percent of their portfolio invested in blockchain technology. He further explained that he was not certain either blockchain will be able to make a return of 20,000% again or not.

It was also revealed by Morehead that he is optimistic about ICOs, as he expects their thriving success to be similar to the 90s IPO boom, however it’s much bigger if they’re compared. ICOs have been under pressure lately, as dozens of subpoenas have been issued by the US SEC (Securities and Exchange Commission).

The Bitter Example Of Amazon

Morehead further elaborated his point by presenting the example of Amazon. If someone remembers, Amazon was a major investor behind Pets.com. Although the company was filed for bankruptcy, Amazon CEO Jeff Bezos still managed to earn an intense amount of wealth due to his innovative set of strategies.

According to Morehead this was only because Bezos’ investment strategy was to put his money in more than one companies, and he did so to make sure that he had exposure to the ultimate winners.

After the bankruptcy of Pets.com, Amazon’s shares came down to 4,000 percent which still is a handsome amount and that’s why Bezos is one of the richest people on earth as he’s still worth over 130 billion dollars.

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