Bitcoin: What Could 1 BTC be Worth After Mass Adoption?

Over the years many people have speculated on what the price of 1 BTC could be if the world switched to Bitcoin. If a large amount of global wealth moves into Bitcoin, the price would skyrocket. Here are some cocktail napkin calculations performed by community members, trying to figure out how far past the moon we may go. Hal Finney: 1 Bitcoin = $10M Hal Finney was one of the first users of the Bitcoin network, actually receiving the first transaction from Satoshi himself. Just days after the launch of…

United States Intensifies Bitcoin Address Analysis in Opioid Fight

The U.S. Treasury Department is stepping up its focus on illegal cryptocurrency-related activities. Recently, Treasury announced that its financial intelligence and enforcement agencies are collecting and analyzing Bitcoin addresses. These addresses are associated with several “Chinese kingpins” allegedly involved in “fueling America’s deadly opioid crisis.” OFAC Adds BTC Addresses to the Specially Designated Nationals list On August 21, 2019, Treasury’s Office of Foreign Assets Control (OFAC) and Treasury’s Financial Crimes Enforcement Network (FinCEN) announced their coordinated actions to step up “financial pressure upon those who manufacture, sell, or distribute synthetic…

Sunday Digest: Bitcoin Price, Politics, and Poppycock

The G7 summit is being held this weekend, with several weighty issues to be discussed by some of the most powerful leaders on the planet. Rumour has it that Bitcoin may also feature on the bill. Bitcoin Price: Short-Term, It’s Anyone’s Guess It’s been another one of those weeks for bitcoin price, with not much serious movement in either direction. The only thing we really learned is that nobody has the faintest clue what’s going to happen in the short term. At the start of the week, a rising wedge saw predictions…

Early Bitcoin Contributor Projected $10 Million BTC Price 10 Years Ago

Just a week after the bitcoin genesis block in January 2009, computer scientist Hal Finney published a price prediction model of $10,000,000 per coin based on it becoming the world’s dominant payments system. Ten Million Dollars Per Bitcoin The assumption was based on the premise that bitcoin would eventually become the world’s dominant currency. He concluded that it should be equated to all of the wealth in the world if it became the top payments system. The excerpt from a paper on the release of bitcoin v0.1 a decade ago…

Bitcoin Influencer Plans To Run For POTUS, Proposes Universal BTC Income

It has been made clear that the current POTUS is not a fan of Bitcoin however his tenure will not be forever. A pro-crypto United States president would likely ease the regulatory pain that is hampering the industry in the US. One may even take a step further by giving away BTC. Monthly Payouts in Bitcoin Cypherpunk and CTO Jameson Lopp recently posted that he was considering running for the lofty position on a single issue platform. The bitcoin advocate clearly recognizes current issues with the economic model which involves…

CNBC Analyst Explains Why He is Bearish on Bitcoin

Earlier this week CNBC Fast Money host Brian Kelly said he is short-term bearish on Bitcoin price based on a drop in daily active addresses. Does this mean BTC will drop lower?  Bitcoin bobs and weaves Bitcoin has spent the last week bobbing and weaving at the $10K line. $10,350 stood as a stiff resistance level for nearly 3 days, then when overcome, $10,500 delivered the uppercut that smashed BTC back to a former resistance turned soft-support.  Unsurprisingly, Bitcoin price failed to find firm footing at $10,350 and overnight the…