Bitcoin Expands as Stock Price Falls (Update)

bitcoin

Guardian Liberty Voice has updated this article with corrected information indicating Coinbase is an international digital wallet.

Bitcoin, a crypto-currency, relies on stock holders and currency exchanges for expansion, one keeping the other from price falls that halt growth to the market. Without government sanctions or backing, the popular currency looks to offer their customers the convenience of freedom from banks and central authority. With digital currency on the rise worldwide, the largest digital denomination in the circulation is making moves to bring convenience and a sense of stability to their product.

Digital money also looks for ways to be more convenient, especially in regards to exchanges from physical money and vice-versa. A new bitcoin brokerage service named Ripio has spread throughout Argentina, opening 8,000 convenience store locations so far. CEO Sebastion Serrano explained that acquiring online money will be as simple as approaching one of these stations and giving over your Ripio number to a representative, exchanging pesos for online coin even without a bank account. He goes on to highlight their desire to “push adoption” across their available territories with this move and that interactive maps will be available for cell phones to show the closest Ripio convenience kiosk location.

BitAccess, the evolution of these convenience kiosks, is also expanding, but only in select areas as of now with the goal being worldwide distribution. Access is a new type of automated machine for digital coin distribution that requires, as Haseeb Awan, one of the four co-founders, says nothing more than “a phone number and a dollar.” The system operates with your phone, sending a text to you after a number is entered that allows access to a digital wallet.

From there, customers will be allowed to purchase bitcoins for their personal account or simply print out a receipt representing their crypto-currency amount depending on their preferences. Awan foresees this being the beginning of a long list of digital conveniences available at these kinds of ATM machines, naming other digital contracts on a global scale as an example.

The Bitcoin stock price, even with these expansions beyond the internet, has suffered recently thanks to a number of business pitfalls. Stocks were at an all time low in mid June of this year at 550 USD per unit and have fallen since then to 525 USD per unit.

This selling is related to big businesses that accept the digital currency (Dish Network, Dell, Overstock etc.) immediately exchanging payments for physical, government-backed currency. Efforts to automate trading have also lead to the utilization of specialized bots that react to these sell-offs by dumping further stock, driving the currency’s price further down.

As Bitcoin expands across the world and their stock price falls to historic lows on Wall Street, crypto-currency remains one that is open to everyone. Dish Network, having just decided to allow crypto payments, is still experimenting with the formula and is, as of now, allowing only one-time payments via their partnership with Coinbase, an international digital wallet. Any business or individual interested in the popular digital currency can visit their website.

By Myles Gann

Sources:

Home Page
Coin Desk
Crypto Coins News
Venture Beat
Tech Crunch

16 Responses to "Bitcoin Expands as Stock Price Falls (Update)"

  1. Joey Buttafucco   August 18, 2014 at 12:15 pm

    EVERY DAY IS APRIL FOOL’S DAY FOR PEOPLE WHO BUY BITCOINS! – 10/10

    Reply
  2. bb   August 17, 2014 at 6:35 pm

    Neal Palmquist, you are a tool!

    Reply
  3. Bob Longmire   August 17, 2014 at 11:19 am

    The hardest thing to understand here is how this article got listed in Google News.

    Reply
  4. Neal Palmquist   August 17, 2014 at 10:54 am

    If this was April Fools Day then this article would make sense. I don’t know why somebody would publish such stupidity unless that was done on purpose for a different intent. I never even heard of Liberty Voice so it makes me wonder if this whole site could be some kind of illusion to begin with.

    But then again, EVERY DAY IS APRIL FOOL’S DAY FOR PEOPLE WHO BUY BITCOINS!

    Reply
  5. [email protected]   August 17, 2014 at 9:30 am

    Everything is weird and wrong in this article… The author doesn’t seem to know what he’s talking about..

    Reply
  6. Doutor Coin   August 17, 2014 at 8:36 am

    Trade GHS/BTC or BTC/GHS – http://www.minerbid.com/?id=85 – 0.0031BTC 1 GHS

    Reply
  7. Daveyboy (@daveyipp)   August 17, 2014 at 7:26 am

    1. There’s no ‘They’ or ‘Their customers’ with bitcoin. Please look up ‘decentralization’ and do some investigating as to ‘who’ or ‘what’ bitcoin actually is.

    2. There’s no ‘stock’ price because there’s no ‘stocks’, re-read point 1.

    Reply
  8. lakawak   August 16, 2014 at 10:59 pm

    At an all time low at $450? They were lower than that all the way until late last year. And even if you meant only since it peaked, it was lower than that in the spring. Much lower.

    Reply
  9. lakawak   August 16, 2014 at 10:58 pm

    Popular? Define popular. A few virgins in their mommy’s basements is not popular

    Reply
  10. Michael Hardy   August 16, 2014 at 7:11 pm

    “Historic lows on Wall Street”?? You think Wall Street is where bitcoin gets traded?? The blind lead the blind.

    Reply
  11. Michael Hardy   August 16, 2014 at 7:09 pm

    One can hardly get more confused than to speak of stockholders and stock prices. Bitcoin is not an entity and has no stock.

    Reply
  12. Glob   August 16, 2014 at 6:39 pm

    Bitcoin has no stock/stock price/stock holders. It’s not a corporation. The price is per unit of the currency.

    There is also no official wallet. Coinbase is merely one of the popular payment processor to accept Bitcoins.

    Reply
  13. Arthur   August 16, 2014 at 6:31 pm

    Hahaha. Please stop calling Bitcoin a “stock.” It is a cruptocurrency!

    Reply
  14. Yernsk   August 16, 2014 at 5:50 pm

    It’s not “stock”, dummy.

    Reply
  15. Bob Longmire   August 16, 2014 at 5:48 pm

    you are correct about automated trading influencing the price downward, especially in the case of margin calls. You are incorrect about downward price pressure from more merchants accepting Bitcoin. True, they do exchange the BTC for cash right away, but someone buys them first. The speculators in Buy & Hold mode are NOT spending their BTC, and the upward price pressure from others who buy some BTC for spending EXACTLY OFFSETS the downward pressure you (somewhat obliquely) refer to.

    And Mr. Lionsfire is correct. A quick proofing by someone familiar with the subject would have made Mr. Gann sound more knowledgeable.

    Reply
  16. Andrew Lionsfire   August 16, 2014 at 5:00 pm

    “stock price” meh id find something that fits better … it is not a stock..

    ahh every paragraph theres a lot of things that could be worded or understood better by the author.

    although i would say your pretty close

    Reply

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