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Bitcoin (BTC) Has Died A Shocking 309 Times

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Bitcoin is dead
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The fake news that Goldman Sachs has shelved plans to open a Bitcoin (BTC) and Crypto trading desk has been solely blamed for the crypto market turmoil that begun on the 5th of September and managed to sort of stabilize on the 9th. Many crypto-traders and enthusiasts were heartbroken that such fake news could be paraded as facts. They felt betrayed. Some pointed out that it was a lesson for thinking Wall Street will take cryptocurrencies to the next market Bull Run. It is with the above turmoil that many had declared Bitcoin is dead once again.

Turns out this is not the first time the King of Crypto has died. Forbes magazine managed to inform us that there is a tracker for the number of times Bitcoin has been declared dead by the media. Turns out that counter is at 309 times as can be seen in the screenshot below.

BTC obituaries. Source, 99bitcoins.com

It is a bit hilarious when you think of it. After the smile, we realize that Bitcoin is not going anywhere. Neither is Ethereum, XRP or any of the other digital assets that have declined by large percentages in the last few days. As a matter of fact, if you are a seasoned trader, the current market decline is a normal occurrence from where you stand.

The author of the Forbes Magazine piece goes on to make light of the situation, for he too is a seasoned veteran of the crypto markets.

“The sense of urgency is everywhere I look. Bitcoin is dying, and it’s time to get a new job. The warnings are stark. Bitcoin’s price has lost 70% since its $20,000 peak last year, the Securities and Exchange Commission has rejected every bitcoin ETF it’s seen so far and Goldman Sachs has delayed its much-touted roll-out of bitcoin trading.”

If BTC Can Survive the Mt. Gox Fiasco of 2013/14, It Will Be Fine

Many of us crypto enthusiasts can be blamed for being too nostalgic with regards to last year’s Bull run that had BTC touch the sky at levels of $20,000. Yes, we wanted the gains to continue but with every peak in any financial market, there is bound to be a fall in value.

One needs to only look at nature and observe how ocean waves travel. The key in crypto trading is to become one with the market turmoil as a surfer does when he balances his board on a magnificent wave that would scare the living daylights out of any regular person. It is perhaps prudent to refer to ourselves henceforth, as crypto surfers!

Any BTC HODLer who has been around since the Mt. Gox saga of 2013 to 2014, knows that the King of Crypto had declined to as much as $0.01 due to a hack at the exchange in 2011. From April 2013 to early 2014, the exchange was at the top of its game as it was handing up-to 70% of all online BTC trading. But it all came crumbling down due to a news report that the customers of the exchange were experiencing delays in withdrawing funds from the platform. Some even had to wait a few weeks for the transactions to complete. (Where was Ripple back then to complete the transactions in 3 seconds?)

In conclusion, the current market turmoil is not new to Bitcoin and the crypto markets. One needs to look at the number of times Bitcoin has died for you to accept that it will die a few more times in the future as well. With such knowledge, we can easily recover psychologically from each dip rather than musing about totally cashing out and forgetting about that Lambo.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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