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As the long term trend is up, there will be a lot of short term swings in the market along the way. Basically, the world needs Bitcoin. Originally developed as a countermovement to the 2008 global financial crisis, Bitcoin provides a way to log out of the system and expose yourself to an uncorrelated asset class when debt levels rise daily and the prospect of a financial crisis worries economies. For this reason, the demand will only increase in the coming years as Bitcoin finds more and more uses and uses.
There are some incredibly positive developments going on in the industry right now that are not known to the public.
1. A new exchange of crypto assets.
The owners of the New York Stock Exchange (ICE) are launching a new crypto-asset exchange called Bakkt in Q1, which is designed to serve as a scalable ramp for institutional funds (banks, hedge funds, brokers, etc.), merchant providers and consumers by more Efficiency, security, storage and transfer of digital assets are promoted.
Large banks, institutions and fund managers will not invest large amounts of money in this industry via exchanges such as CoinBase, Binance or Bittrex. You are up against trillions of dollars in what requires the level of security, billing, and insurance Bakkt will bring to the table. Starbucks has partnered with them to enable payment in Bitcoin through the Starbucks mobile app.
2. Fidelity opens Crypto e3
Fidelity is the fifth largest asset manager in the world with 5 million clients and $ 27 trillion in assets under management.
Fidelity has created a second company called Fidelity Digital Assets to provide custody solutions, trading platforms and corporate advisory services to its 13,000 institutional clients. Fidelity opens its $ 7.2 trillion in assets to crypto and will soon be giving its 27 million customers the option to buy Bitcoin using their 401K.
3. The introduction of Square's "Cash App" is increasing on iTunes.
The mobile payment application launched by Square is the twelfth most downloaded app on iTunes, outperforming Spotify, WhatsApp, Venmo, Uber, Twitter, Lyft and Google Maps.
Why is that relevant?
Just like PayPal and Venmo, the Cash app makes sending and receiving money easy, but there is one key difference.
The Cash App makes it incredibly easy for over 40 million users to buy and sell Bitcoin directly in the app. In fact, it is currently the easiest way to buy and sell Bitcoin in the world.
PayPal and Venmo will follow.
4. Ohio accepts bitcoin for tax payments.
In December 2018, the state of Ohio became the first state in the United States to allow taxpayers to use Bitcoin to pay their taxes.
You see the potential of this brand new industry and want to establish Ohio as the new preferred home for blockchain startups.
"Although we are in the middle of a bear market for cryptocurrencies, the demand for Bitcoin will only increase in the years to come as it finds more uses and uses." Hervé Larren, co-founder of Global Crypto Ventures and partner of Geneva-based blockchain consulting firm Dybaw.
5. Germany's second largest exchange plans to start crypto trading in 2019.
After ICE, Germany's second largest exchange, Stuttgart Stock Exchange is set to launch SolarisBank, a cryptocurrency trading platform, in the first half of 2019. Germany has the fourth largest economy in the world, and just like the developments of ICE and Fidelity, this will serve as an upswing in crypto for trillions of German euros.
6. Binance Crypto Exchange outperforms Nasdaq and Deutsche Bank in growth and earnings in less than 24 months.
Binance, the world's most popular crypto exchange, has grown from two million users in January 2018 to over 10 million today. Despite the bear market, 1 is expected to make $ 1 billion in 2018.
To put that number into context, the Binance crypto exchange posted a profit of $ 1 million in the first quarter of 200, while the Nasdaq brought in $ 1 million and the Due Bank brought in $ 209 million.
Binance is less than two years old and employs 200 people.
Nasdaq is 47 years old and has more than 4,500 employees.
Deutsche Bank is over 150 years old and employs over 100,000 people.
In less than two years and during a bear market, Binance has outperformed these global institutions in every major category.
7. The creation of ID-verified crypto wallets will double in 2018.
According to a study by the Cambridge Center for Alternative Finance, the number of ID-verified cryptocurrency users nearly doubled from 18 million to 35 million in 2018 despite the bear market.
8. Bank of America becomes largest crypto patent holder.
Bank of America has become one of the most active banks in the world when it comes to filing patents related to blockchain and cryptocurrency.
To date, they have filed for blockchain-related patents since 50 2014 and recently received a patent for a device that stores cryptographic keys. The details of the document indicate registrations for cryptocurrencies in October.
9. Salesforce receives patent for a blockchain-based platform.
Yep, Salesforce also stepped into the crypto industry with a patented spam elimination system. According to the patent application, “the system can better identify legitimate (wanted) messages and differentiate them from illegitimate (unwanted) messages. When used properly, the immutability and distribution of the blockchain can make it impossible to change information once it has been incorporated into the blockchain. "
Other uses of the concept could also help maintain the authenticity of medical records, certificates, deeds, property rights, legal documents, and more.
Salesforce has a market cap of $ 107 billion.
10. General Motors files blockchain patent for self-driving cars.
General Motors filed a patent application in January describing a method by which self-driving cars could store all of their data in a distributed ledger. The document produced by GM Global Technology Operations also states that stored data can be easily shared with the users of the blockchain.
They see this technology as a crucial element that is required to bring truly autonomous cars to the road en masse.
11. Intel receives patent for energy-efficient Bitcoin mining chips.
One of the biggest complaints about Bitcoin during the Bull Run last year was the amount of power used to process and verify transactions.
Improvements like the Lightning Network will address this challenge, and Intel wants to come into play too.
Last month, the US Patent and Trademark Office granted the company a patent for a processor that claims to be capable of "high-performance, energy-efficient Bitcoin mining," specifically naming the SHA-256 algorithm used by Bitcoin.
Intel gets into crypto.
12. Amazon starts the “Amazon Managed Blockchain” service.
Many of the largest companies in the world, including Adobe and Netflix, use Amazon Web Services (AWS) to host their websites. (We use that at SMM).
Amazon entered the blockchain space in January 2019 when it announced the Amazon Managed Blockchain platform, a fully managed service that makes it easy to create and run scalable blockchain networks.
Amazon gets caught up in crypto.
13. In 25,000 more new CoinBase accounts were created per day than in 2018.
Finally, MünzBase reported that they saw record growth in new users again in October 2018 (more than 25,000 new accounts per day) that has now exceeded a total of 25 million ... in the middle of a bear market.
Crypto exchanges like Binance and Coinbase are already outperforming their previous counterparts in terms of growth and profit.
The biggest players on Wall Street set the table for their market entry.
Mass use and adoption will continue to grow as companies like Square's Cash App and Starbucks simplify the process.
And it's clear that companies like Amazon, Bank of America, SalesForce, GM, Microsoft, and Intel are all striving to get involved in the industry.
But here's what's really important to understand ...
The maximum number of bitcoins that can ever be produced is only 21 million.
To date, millions of bitcoins have been mined since it launched in April 17, 2008, and it is estimated that 25 percent of them have been lost forever to discarded computers, lost hard drives, lost private keys, etc.
This means that there is not enough Bitcoin for every user on Coinbase to own a single Bitcoin.
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