With bitcoin prices continually rising to $647 this week, does the use of bots to automate bitcoin trading survive the cryptocurrency markets?

New York, NY -- (SBWIRE) -- 06/03/2014 -- Thanks to this new era's technology, trading bots can do the work for us, even while we are sleeping. Like real people, these bots converse directly to financial markets, determine the movement of financial exchanges, and do the buying and selling of the bitcoins on our behalf. How cool is that?

But the question is, is this for real? Can someone actually profit from this automated trading?

Derivative exchange BTC.SX founder Joseph Lee attests that bots being used for bitcoin trading are indeed money-generating. From 2011 until 2013, he experimented on a bot which he wrote himself which earned him $200,000 profits out of a $100 buy via his private software army. But still, we cannot deny the fact that one of factors for Lee's profits is the immense increase in bitcoin prices for the past few years.

With the establishment of the bitcoin trading bot market, there are a few softwares which have started to make a name. A few examples are Crypto Trader allowing people to intuitively create bots using varied trading strategies and start business via renting the bots to their customers, the Butter Bot which offers an online trading platform using a plug-in in Google Chrome, and Haas Online selling Windows-based private trading server.

Taking into consideration Lee's astounding experience in trading using bots plus the technology on bitcoin trading being developed, it is important to note that any trader should be solely based on the wonders of technology. Proper strategies based technical analysis and the right amount of confidence in trading that would allow one to identify how much should be traded and in which direction should the trade be, and when to do the trading are vital. One should not solely base trading decisions on how a computer is being programmed as there are inevitable factors that could affect price movements. Bots usually start via the use of an exponential moving average or EMA as a starting point, in which market prices are being identified over a certain duration. Other strategies such as regression analysis and relative strength indicators should also be considered, especially for unstable markets.

The rule of thumb for any bitcoin trading is to come up with a set of trading rules that would work well at the most convenient stance of any trader. Bots can be programmed to be extrapolative or imprudent. Being financially smart is the key. The basis of how much would be traded should come from the confidence on how much one can afford to lose, not just on how much one projects to earn.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

The way figures are being presented can’t simply be ignored and major players in the online payment sphere must take strides in innovating ways on how to incorporate bitcoin in their portfolio.

New York, NY -- (SBWIRE) -- 05/30/2014 -- Bitcoin's success to institute itself as a currency of choice for online transactions can't simply be ignored.

The announcement made by The Laureat Trust about bitcoin to possibly surpass PayPal transactions in USD transaction levels by the end of 2014 is quite a big news for the bitcoin world.

Despite the restrictions being imposed on this cryptocurrency (which is healthy in a sense as it makes bitcoin less volatile and bitcoin trading eventually becomes a safe trading activity), bitcoin prices continue to rise as attributed to the number of major online merchants starting to adopt bitcoin as one of their payment options and with the continuous innovation on the technology governing this virtual currency.

The Laureat Trust's CEO Peter Tasca, in his announcement about bitcoin beating PayPal soon, even believed that the caving in of Mt. Gox which is formerly the world's largest bitcoin exchange, actually paved the way for better and more opportunities for the digital trading vertical. Newer bitcoin trading companies have indeed gained a lot of lessons from this major shut down and are being "better regulated, better financed, and are technologically stronger".

Bitcoin currency exists as a software and is not supported by any banking organization. While some think that it would still be difficult for this new technology to beat the system that online payment systems like Mastercard and Visa have achieved over time, they still do not dismiss the fact that the rise of bitcoins and the advancement in its technology will still put pressure on bigger financial institutions to develop more modern payment schemes.

With the current upward trend in bitcoin prices and with bitcoin transactions averaging to $300 million per day, it is of no surprise that in a few years time, aside from the projections to beat Paypal, bitcoin can also overtake the dollar transaction volumes of other major payment companies like Visa, Mastercard, Discover, and American Express. PayPal's current online payment transactions average to $315 million per day.

The invention of bitcoin ATM and bitcoin prepaid cards creating a greater reach for the average consumers creates further means for this digital currency to revolutionize the payment systems in the digital world. The innovation of bitcoin is indeed one proof of the very close connection between the digital world and the reality.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

It seems all the optimistic news supporting bitcoins as a currency of choice, the growing number of online merchants adopting bitcoins as a payment option, and a steady growth of bitcoin investors have all created a bullish atmosphere to bitcoin trading.

New York, NY -- (SBWIRE) -- 05/30/2014 -- For roughly a month succeeding the May 19th price, bitcoin trading was on a moderately rigid band near the $450 level. This was followed by a remarkable increase in bitcoin price with a firm ratchet uphill. May 27th marked a $590 price corresponding to the 64% gain from the low price of $360 dated April 10th.

With the uneven momentum in the market, it can be considered as a vital technical doorsill for bitcoin price with the trading being reversed lower than its 50-day shifting mean price for the first time since the early part of February. Investors are currently looking at the breaks above and below the different movement in the average pricing and take these movements as a directional indication of where the price may go.

The apparent break above the 50-day average shift is a bullish technical sign of where the price of bitcoin is headed to in the next few months. This upward trend is attributed to the momentous boost of USD trading volume. Bitcoins traded on average reached to a whopping double the average of 41,000 each day from May 19 to 26. It should be noted that the onslaught of Chinese authorities on bitcoin's ability to be traded by Chinese banks during the latter part of March until early April still creates an incomparable USD volumes as compared to the recent figures.

What's with the rising bitcoin prices? So far, there is no clear indicator as to the reason why bitcoin price is rising. One factor that can postulated that might have contributed to the upward movement is the increase in bitcoin transactions which demanded more commercial use for bitcoins. Use of bitcoin in aggregate bitcoin transactions has stayed comparatively steady though.

The fear over bitcoin trading operations in possible need for a relocation has started to fade as bitcoin exchanges which are currently housed in China continue to conduct operations there. Evidently, current trading levels at CoinDesk CNY Bitcoin Price Index factor exchange BTC proves that trading volumes may soon stabilize again in China.

eBay's positive response to including bitcoin as one of its payment options can also be considered as a factor in the increase in bitcoin prices. If this move would push through, butcoin would experience a major leap as more and more people would be introduced to its use causing a more drive to increase its value.

There are other factors that can be considered why bitcoin prices continue to rise. The $30 million undertaking of BitPay – one of the bitcoin payment processors is a milestone as well as venture capitalists see a pot of gold with bitcoin trading in parallel with its market growth prospects.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

The suspension of BTC China’s bitcoin to transact with domestic banks caused manipulation driving a lower exchange rate as caused by the inevitable flow of news released in a less diplomatic way.

New York, NY -- (SBWIRE) -- 05/06/2014 -- As a result of halting financial institutions from transacting bitcoins to restrain risks by China's Central bank, domestic banks expressed their intention to close their bitcoin accounts hurting Chinese Bitcoin exchanges.

It was in December 2013 when the People's Bank of China hurdled the buying and selling of bitcoins nor its linked products. This resulted to the Agricultural Bank of China Ltd. – a sub-branch in Hangzhou and the Industrial & Commercial Bank of China Ltd expressing their intention to close their account in BtcTrade. The veto was due to the rising concerns about the risks that bitcoins may pose to China's asset controls and monetary stabilization once trading has surged.

Bullish or Bearish?

Despite the craze about bitcoin suspension in China, bitcoin exchange rate has surprisingly a fine but vigorous consolidation of between $452 and $440 resistance. According to Reporter Bitcoin Market Analysis, "if t were not for the most recent news out of China, consolidation at $500, which was strong, may have taken place by now". However, the exchange rate, with its strong base around $450, is ready for another consolidation at a fair value of $500. It is indeed a good projection for a long term bullish market, but everything is in pending now while we keep an eye of what will happen next with China's news of the halting of BTC China's transactions.

Hopeful Bitcoin Market

Is it going to be an updward market for bitcoin exchanges in the years to come? Certainly, it would only be a matter of time for the bitcoin market to reverse its current trend, factoring in the optimistic news supporting bitcoins as a currency of choice, growing number of online merchants adopting bitcoins as a payment option, and a steady growth of bitcoin investors, not to mention to the continuous innovation on the technology governing this virtual currency.

The Central Bank is keeping an eye on the perils of using bitcoins. It is not a currency, but an investment target, mentioned Sheng Songcheng, Monetary Authority's Statistics Department's Head mentioned in one of her interviews in Beijing earlier this year.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

The dawning of a new era of virtual currencies has its downsides. And one of the most fearful of it is its use as a potential terrorist threat.

New York, NY -- (SBWIRE) -- 05/06/2014 -- While Android, Motorola, the social media, and virtual reality are all being warned by the Department of Defense's Combating Terrorism Technical Support Office (CTTSO), bitcoin is also being listed as an area of concern posing threats to national security.

"The introduction of virtual currency will likely shape threat finance by increasing the opaqueness, transactional velocity, and overall efficiency of terrorist attacks," according to the Advance Planning Briefing for Industry as released by CTTSO on January 2014.

CTTSO's mission is to identify and analyze the capacities of counter-terrorism and explore irregular combat and developing threats. Their main concern involving bitcoin is the ambiguity built into its architecture as the "miners" involved in bitcoin trading are kept unidenfied. Internet's ability to transact faster coupled with the privacy in bitcoin transactions are factors that are pinpointed to cause unlawful transactions.

There had been a number of prestigious cases putting bitcoins in hot water. To name a few are the shutting down of the Silk Road by the FBI, an online black market accepting bitcoin payments which served as an avenue for its users and even professional assassins to transact guns and drugs. Money laundering charges of Charlie Shrem (Bitcoin Foundations' Chairman and BitInstant Head) involved bitcoins as well. And just recently, Mt. Gox, a Tokyo-based bitcoin exchange , filed bankruptcy due to the $425 million worth of loss due to hacking.

Although the Treasury Department has not found any evidence yet on the use of an online currency like bitcoin to fund terrorism, there is still a potential for it to be used for terrorist attacks.

Part of the CTTSO's plans it to design and develop a modular web-based training package for explosive detection technologies. This training aims to analyze the different virtual environments and devices such as bitcoins and know the science behind them as potential avenues for terrorism, and eventually develop an explosive trace detection technology which includes the device set-up, threats, maintenance, and troubleshooting strategies and solutions. One of CTTSO's main goals is to create innovative solutions in enhancing new ideas for underpinning the understanding on the role of virtual currencies as a means to finance threats against the United States.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Good news for bitcoin users and traders..Robocoin, the Las Vegas-based company who launched the world’s first bitcoin ATM is now up to introduce the “fastest means to send cash worldwide” via sending funds to phone numbers!

New York, NY -- (SBWIRE) -- 05/06/2014 -- The enhancement of Robocoin's network of machines would be capable to store, access, and transfer bitcoins from any ATM or Robocoin's "branch" in a blink of an eye without the need for the users to wait for the verification on the the public ledger of transactions in the cryptocurrency. Withdrawals in cash from bitcoin assets can also be made via these machines.

Revolutionizing Online Payment Systems

Silcion Valley Entrepreneurs admitted to Wall Street that bitcoin is something that would revolutionize online payment systems providing a better payment option for consumers as bitcoin enthusiasts devise way on building a method where money could securely move over the world wide web at much lower costs as compared to remittances, wire transfers, and bank debits. Through this system, bitcoin users will be able to transfer money to other people with the use of a phone number instead of a bitcoin address.

Eliminating costs created by middlemen (cost to process bitcoin payment is only at 1% as compared to the 3% or more transaction fees that are incurred by merchants to take credit card or debit card payments) would be one on the benefits of the this bitcoin innovation. This new bitcoin system would certainly be preferred by online merchants and consumers alike.

Security Concerns

How secure against fraud are these bitcoin ATMs? CEO of Robocoin stated that "No longer do customers have to worry about private keys and public addresses. With the Robocoin Bank, customers deposit into their Robocoin Account and send money between phone numbers, not public keys, which will yield incredible network effects." The Robocoin ATMs have three ways of validating users – the user's username in the form of a phone number, the PIN, and the palm-vein scans (making it more secure against fraudulent activities).

Bitcoin as a Volatile Currency

Despite volatility in bitcoin prices, more and more businesses, especially online merchants are accepting this so-called cryptocurrency as one of their payment options. Cynics defy the instability of bitcoins as it is projected to wipe out cost savings in the long run defeating the goal of a cheaper system.

Bitcoin currency exists as a software and is not supported by any banking organization. While some think that it would still be difficult for this new technology to beat the system that online payment systems like Mastercard and Visa have achieved over time, they still do not dismiss the fact that the rise of bitcoins and the advancement in its technology will still put pressure on bigger financial institutions to develop more modern payment schemes.

Currently, Robocoin has 13 bitcoin ATMs functioning across Europe, Asia, London, and North America. In 2013, they made a big leap in installing the world's first bitcoin ATM in a Canada's coffee shop.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

A new malware which was termed as BadLepricon is making its way in “illegally mining” bitcoins using smartphone apps.

New York, NY -- (SBWIRE) -- 05/05/2014 -- Lookout, a San-Francisco based mobile security firm discovered a strain of malware called BadLepricon which run within apps mining bitcoins while hurting its own presence and protecting the victim's phone from fast battery loss.

BadLepriceon hides itself as a package of cheap wallpapers in the Google Play store including Urban Pulse Live Wallpaper, Mens Club Live Wallpaper, Epic Smoke Live Wallpaper, and Beating Heart Live Wallpaper. Although these mentioned wallpapers were already removed, the malware is still suspected to be still hiding in similar apps from notorious publishers.

In March, two similar malwares called CoinKrypt and ANDOIDOS KAGECOIN had their invasion via hiding themselves in Google Play store apps. These malwares both used mobile phones to dig for digital currencies. Unsuccessful though, the mentioned programs were merely confined to lower-value currencies like Dogecoin and Litecoin requiring a lesser processing power to generate.

As compared to CoinKrypt and ANDOIDOS KAGECOIN (which were identified easily because they were causing overheating and devastation of a phone's battery life), BadLepricon works via entering into an endless sphere where every five seconds, it checks battery level and connectivity, and if the smartphone's display is on. Once the battery level reached more than 50% full, the display is turned off and the phone will be connected to the network. It was then the malware will start its process of "bitcoin mining". The malware will run the necessary calculations to make the bitcoins work while getting a share of the result of the bitcoin mining process.

Lookout said that "BadLepricon doesn't seem to have been a roaring success on that score: Google promptly removed five of these applications after we alerted them to the issue. The apps had between 100-500 installs each at the time of removal". This being said, the bitcoins are designed makes it more difficult for the "mining" process in that even the prevailing 2014's smartphones seem to be frail in computing power for mining. BadLepricon's goal is to mimick the power of many devices which are running on several software without the knowledge of the owners of the smartphones.

BadLepricon is designed in such a way that its description, terms and conditions contain jargons so users would not easily notice that their smartphones are used as mining devices.

Approximately 600 quad-core servers running endlessly is needed to mine 0.4 of a single Bitcoin, as what Lookout postulated. So this means it would take a number of smartphones to run in order to produce similar results. Bitcoin price is now at $455, making BadLepricon not seemingly harmful to smartphone users nor useful to its innovator. But then, smartphone users are still better off without this malware. Anyone who noticed any unknown apps being downloaded must remove them right away and run a mobile security app for protection against malware as a first line of defense.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Bitcoin is a virtual currency adopted by both consumers and merchants for online shopping ease and security.

New York, NY -- (SBWIRE) -- 05/02/2014 -- Major online retailers like Tiger Direct and Overstock have started accepting bitcoin as one of their payment options. Unlike credit cards which are vulnerable to hacking, paying via bitcoins is much like paying via cash. Bitcoin payments directly encrypts money instead of giving out credit card information online. These major retailers benefit in using this digital currency because of lesser transaction fees and its security to purchase goods across the globe without thinking about wire fees and risks of exchange rates.

Buying bitcoins has stirred controversy over the years. Bitcoin's upsides and downsides became debatable since its inception. The question of when is the best time to buy bitcoins is a hot issue. But knowing the answer to this would be beneficial for both the customers (and those planning to involve in bitcoin trading) and major retailers like Walmart who can consider this currency in the future.

Online businesses who have started using bitcoins need to get sales from this currency into their accounting systems as dollars. So they have to sell their newly-accepted coins. In the long run, once these merchants has gained enough of this currency (and has learned how to take advantage of this payment option for international purchases), they would need to stop selling their coins. So the answer to when is the best time to buy bitcoins is "two (2) days after a major retailer begins accepting bitcoin as a payment option". It is because all orders against any new retail merchant are valuably an enormous deposit of bitcoins on it's so-called "stock market" (or bitcoin exchanges).

The only issue both customers and merchants face with the use of bitcoins is the demand and supply chains of bitcoins because a number of customers perhaps are unaware of where to buy bitcoins. Setting up account for this payment method takes time because both the US Government and China, with their need to protect their printing press money power against a currency backed by math and geeks, make it hard for people who are wanting to buy bitcoins.

Online consumers are starting to buy bitcoins for secure shopping and to avoid buying goods at high prices.

Embracing bitcoins as a payment option for online merchants, and using bitcoins as a payment method would be beneficial for both consumers and merchants alike.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Mt. Gox’s loss amounting to millions of dollars of the new kind of currency (bitcoin) resulting to its shut down in early 2014. Many its former North American customers were given the “best option” – an out-of-court deal to end their legal action.

New York, NY -- (SBWIRE) -- 04/30/2014 -- Tokyo-based bitcoin exchange Mt. Gox finally filed a bankruptcy this April due to the loss of bidding for reorganization, a bankruptcy court in Japan announced on April 16, 2014. It will be noted that Mt. Gox collapsed earlier this year due to a loss of a total of $425 million worth of bitcoin currency.

Mt. Gox's CEO Mark Karpeles' was made liable in the collapse of the business and is currently being investigated. This was according to the court-appointed administrator Attorney Nobuaki Kobayashi as posed in Bitcoin exchange's website.

A number of fury US and Canadian customers of Mt. Gox filed a class-action court case as they seek compensation for their losses from bitcoin trading.

As can be remembered, Karpeles asked a Tokyo bankruptcy court last February 28 to have its creditors be protected while the exchange is undergoing restructuring and reorganization. It was due to a hacking of the digital wallets that stored the bitcoins of their customers which resulted to a lost of 850,000 bitcoins (which was later on reduced to 650,000 total as Mt. Gox discovered 200,000 bitcoin in an unused wallet). After a week this incident, another bitcoin exchange company, Flexcoin, shut down claiming that another incident of hacking occurred robbing a total of 896 bitcoins valued at $600,000.

Mt. Gox's rehabilitation application was later on dismissed as, according to Kobayashi, "It was too difficult for the company to carry out. And Karpeles has lost his authority to administer the company's asset."

Mt. Gox is scheduled to be liquidated after Karpeles announced that he had no prospects of restarting the business. According to Karpeles, "The dismissal of the company's application for rehabilitation "created great inconvenience and concerns to our creditors, for which we apologize."

As its' customers "best option",former customers will share 16.5% of Sunlot (a company who has filed an application to take over and dispose Mt. Gox's assets), and will receive a share of the 200,000 bitcoins and $20 million in cash which is still being held by Mt. Gox.

Kobayashi stated that he wil l try his best to be fair and administer the company's assets fairly. He is currently working with a US bankruptcy court (Edelson law) where Mt. Gox also filed for relief. However, he mentioned that it would already be unlikely for Mt. Gox to restart the exchange.

Mt. Gox used to be the world's largest bitcoin exchange. Bitcoin exchange is a peer-to-peer online payment system.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Coinsetter is the trading solution for people who are new to Bitcoin or looking for a more reliable and user-friendly platform.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Accepting bitcoins as a payment option would be a long-term saving scheme for Amazon. It is an innovative approach that can potentially change the way people buy things forever.

New York, NY -- (SBWIRE) -- 04/29/2014 -- A lot of people had been bearish on bitcoins because they see it as a fad. Learning more about it and with the growing number of advocates trading bitcoins amidst naysayers being skeptical about the digital revolution, a big online retailer like Amazon will eventually embrace it and accept the currency as they save a fortune via stripping seller and buyer fees.

Apart from the obvious boosting margins, taking bitcoin payment would be beneficial for a company like Amazon as protection against credit card fraud. In an article by Venture Capitalist Marc Andreessen, he was able to prove why Amazon should take bitcoins as one of their payment options. He said that "If a person sells electronics online, profit margins in those businesses are usually under 5 percent, which means conventional 2.5 percent payment fees consume half the margin. That's money that could be reinvested in the business, passed back to consumers or taxed by the government. Of all of those choices, handing 2.5 percent to banks to move bits around the Internet is the worst possible choice. Another challenge merchants have with payments is accepting international payments. If there are certain products or services that aren't available in certain countries, the answer is often payments."

With a lean 2% operating margins in the 1st quarter of 2014, accepting bitcoins would be beneficial for Amazon as they would be able to cut-out on middlemen like Mastercard, Visa, and Discover Financial Services. An effortless growth can be seen just with accepting bitcoins as a form of payment. Bitcoins have immense properties for buyer transactions. Having low fees would mean Amazon can pass the savings on to its customers while getting a price advantage over its competitors. Another advantage of trading bitcoins is it brings about no risk of fraud or chargebacks. Any confirmed transaction is protected by the full hashing power of the network. Accepting bitcoins from any country in the world would work to its full advantage.

Currently, a number of merchant sites on the internet are accepting bitcoin as a payment option. Not to mention Overstock.com, which is a competitor of Amazon. To name, we have Wordpress.com, The Pirate Bay, Reddit, The Internet Archive, OkCupid, 4chan.org, Namecheap, EZTV, Mega.co.nz, and Lumfile.

Many crypto experts are grazing their heads and trying to make sense of the current cons given the innovation and exhiliration that the global bitcoin community shows. Why is there so much demand on the currency? Why is bitcoin currency exploding right now? There is certainly a whole lot of demands and a lot of attention on the currency. Obviously, success breeds some level of success in capital markets. According to Bitcoin.org, since bitcoin was born, every aspect of its network has been in a continuous process of maturation, optimization, and specialization. And projections show that bitcoins will prosper for some years to come. The core Bitcoin network can scale to much higher transaction rates than are seen today, assuming that nodes in the network are primarily running on high end servers rather than desktops.

With bitcoin as the future of digital currency, it will eventually continue to change ecommerce payments.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Bitcoin continues to show its popularity, and was recently used to buy a Balinese property.

New York, NY -- (SBWIRE) -- 04/16/2014 -- Bitcoin is the most current and renowned type of digital currency among the other existing ones. It is an occasionally maligned virtual currency. The digital money has been widely used, from small transactions such as purchase of sandwiches, to online dating, and at present, a luxury villa in Bali.

An anonymous purchaser in Texas bought a two bedroom, two bath luxury villa located at Del Mango Villa Estate in Bali. The buyer paid less than 1,000 bitcoins which costs more than $500,000. The transaction is considered to be bitcoin's largest so far.

Alan Silbert, CEO of BitPremier – a website which keeps a list of items for purchase with bitcoin, mentioned, "As far as we know, there's nothing that comes close to this. There have been some luxury car sales – Tesla, Lamborghini. So I think this is by far the priciest item that's sold by bitcoins."

Bitcoin is a virtual currency which enables users to exchange online credits for goods and services. It can be created on the internet by using a computer to accomplish tasks, a procedure which is known as mining. Bitcoin has been gradually attaining acceptance for transactions, ranging from businesses such as pizza parlors, hotels, and online retailers.

The electronic currency may be used to acquire more property in the future. BitPremier is listing more properties on its website, which includes a luxury Paris property with a view the Louvre at 8.5 million euros (about $11.8 million) which is around 20,000 bitcoins. It will also enlist a seven-bedroom luxury villa in Caesarea, Israel, and costs $3 million and is roughly around 5,000 bitcoins.

Despite the recent deflation of the bitcoin exchange, some view the purchase of the Bali villa as a good sign. David Moskowitz, Coin Republic's director, testified that, "it is a transaction mechanism. It's being used as a means of exchange and people are willing to exchange their bitcoin." It implies that the electronic currency is getting more recognized.

Bitcoin use ensures faster transactions, as compared to the possibility of waiting for multiple bank transfers. According to Moskowitz, its actual transfer is immediate, and the confirmation process to verify the bitcoins were not spent twice consumes around 30 minutes to an hour. Moskowitz also mentioned that the transfer cost was probably less than $10.

At present, bitcoin's future is not totally clear. Based on data from Bitstamp, its value is unstable; it increased from around $13.00 at the beginning of 2013, and reached approximately $1,120 in November. At the moment, it is currently trading roughly at $600.

Although slowly gaining popularity, there are those who doubt the digital currency's fundamental value. Warren Bugget, a famous investor, recently conveyed to CNBC, "it's a mirage basically. It's a method of transmitting money. A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money?"

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Bitcoins are increasingly accepted in Edmonton and Winnipeg

New York, NY -- (SBWIRE) -- 02/19/2014 -- Bitcoin is gaining popularity in Edmonton, Canada, as CoinFest 2014 was held on February 15, 2014. Peter Dushenski, a Bitcoin community developer, cited that "Edmonton has the fastest growing Bitcoin community in the country. We're adding businesses faster than any other city. More people are coming to our meet ups than any other city." Dushenski recently hosted Coinfest Edmonton, an event where people could learn its basics.

He emphasizes that this currency is used to exchange value to absolutely anyone in the world instantly without fees and no middle man. He further discussed that when people begin to see bricks and mortar businesses accept this digital currency, then it means there is a cultural acceptance of alternative forms of payment.

More establishments are starting to use the currency. Rick Rosboro, a vendor at the City Market downtown, started accepting the digital currency about a month ago. Rosboro said, "It's a little bit scary because you don't know what's going to happen with Bitcoin. Is it going to become more and more and more popular and therefore more valuable or will it be shut down by the banks and the government?" he asks. Still, he believes it is worth the risk, pointing out that in a way it is fair as there has to be some change on this planet in the way money is dealt with. Edmonton's Remedy Cafe has been accepting the electronic currency as payment for a while. A man in Crowsnest Pass even placed his $400,000 home on the market in exchange for bitcoins.

Meanwhile, Winnipeg launched its first Bitcoin ATM, which is the fourth of its kind in Canada. Anyone can simply create an account and use the virtual wallet to buy at businesses which accept Bitcoin. Users can just insert traditional currency and get virtual money in return. It will then be added to the virtual wallet at the current exchange rate, which gets updated every five seconds.

Bitcoin was first introduced as open source software in 2009. At the time, a bitcoin was worth $0.0007. The peer-to-peer payment system has been growing since then. Last year, its price was worth about $27 which has now grown close to $800 this year. In its 2014 budget, the federal government charted plans to bring virtual currencies under the provisions of the anti-money laundering and anti-terrorist financing regulations.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. We enable you to access the best prices from major exchanges and boost your trading on our platform built by Wall Street professionals. Whether you're new to Bitcoin or looking for a more reliable and user-friendly platform, Coinsetter is the trading solution for you.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

How Bitcoins are Revolutionizing the World of E-Commerce.

New York, NY -- (SBWIRE) -- 02/12/2014 -- Bitcoin is a digital currency and a peer-to-peer payment system that is gaining popularity over the last year. Its market grows exponentially as it seen as an alternative to the global payment system. Though highly virtual, these bitcoins can buy different products and services from car dealer to web stores using a virtual wallet.

WHAT EXACTLY IS BITCOIN?

By definition, Bitcoin is a cryptocurrency and uses cryptography to control the creation and transfer of money. It is created through process called mining, where participants verify and record payments in exchange for transaction fees and new bitcoins. In layman's term, bitcoin is digital money that acts as cash.

HOW BITCOINS WORK?

Surprisingly, Bitcoins work easily. Users can send and receive bitcoins using virtual wallet softwares on a PC, a mobile device or web application. Bitcoins can also be acquired in exchange of a product, services, or other legal currencies.

Bitcoin itself is considered a currency for some and is as valuable as gold, cars or any commodity one put value or investment in.

VALUABLE COIN

For the technically versed, bitcoin value is unlimited. While it's commonly used now as a mode of payment for services or products, the transaction doesn't stop at this point. Bitcoin's highly advanced technological structure allows transfer of value to anyone, anytime and anywhere for free. This made it extremely attractive and convenient to people who want to cut down wire transfer, money orders and check processing fees.

Today, a bitcoin is valued approximately $100.00 USD between $85.00 to $97.00 depending on what the market dictates, according to Jaron Lukasiewicz, CEO and Founder of Coinsetter. Coinsetter is an online trading platform where one can buy and sell bitcoins.

OTHER VALUES

Bitcoin's potential is not limited to finance alone. The technological DNA of bitcoin that made it a viable currency can be applied in other societal aspect such as elections, contracts and fraud protection.

FUTURE OF BITCOINS

Because of bitcoin's unlimited potential and perceived value, it is likely to be traded just like any currency in the worldwide financial market. Hence, rise in the FOREX market is being foreseen through Coinsetter's progressing perspective. Currently, Coinsetter Company has raised $500,000 for bitcoins from its venture capitalist.

In fifteen years, bitcoin's value is predicted to increase from $100 to $100,000.

About Coinsetter
Coinsetter is a secure Bitcoin trading platform with tools for serious forex traders. It lets you access the best prices from major exchanges and boost trading using the platform built by Wall Street professionals. Coinsetter New York City exchange offers fast, reliable trading with more liquidity.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm