What The New Bitcoin Upgrade Means To You

The latest Bitcoin update – called Taproot – has hit the streets. And no matter where you look, just about everyone involved with crypto and Bitcoin is abuzz about what this upgrade means for Bitcoin today and down the road.

So, today we’re going to take a behind-the-scenes look at what Taproot really is and what it means to investors. Then, we’ll kick the tires and see if it stacks up to all the hype.

What Is Taproot?

On November 14, the Bitcoin network activated the Taproot upgrade to Bitcoin’s software deployed around the network. The upgrade officially hit the block at block 709,632 and is the first major update since 2017. The upgrade should increase transaction privacy and efficiency. Continue reading "What The New Bitcoin Upgrade Means To You"

Bank of America's Bombshell Crypto Report!

When I told you about the jaw-dropping news that came out of Deloitte's 2021 Global Blockchain Survey, I didn't think another report from a financial powerhouse would be so earth-shattering.

I was wrong.

In Bank of America's Digital Assets Primer: Only the first inning, there were so many cryptocurrency and blockchain bombshells that they made my head swim.

So today, I'm going to break down four of the most important of them. And I'll tell you why each one is potentially game-changing for each and every one of us.

Bombshell #1: Crypto is “Too Large to Ignore”

The report doesn't pull any punches and opens with this salvo: Continue reading "Bank of America's Bombshell Crypto Report!"

What's Up With Crypto Regulation?

Bitcoin Selloff and Comeback was Regulation Driven

Unless you've been under a rock over the past couple of weeks, you know that Bitcoin (BTC) got hammered recently and then made a heck of a comeback. See for yourself...

Bitcoin Daily Chart - Cryptocurrency Regulation

Source

While volatility and fundamental factors are always at play, the big reason for the selloff was likely the China ban on crypto. Then the big reason for the comeback was likely the reassurance from U.S. regulators that they will not be following China's ban. Continue reading "What's Up With Crypto Regulation?"

Don't Miss This Crucial Ethereum Update!

When I first got into cryptocurrency and blockchain, I was fascinated by the idea of a decentralized, peer-to-peer network where I could transact business. But almost immediately, I thought that simply paying for stuff with Bitcoin (BTC) was only the beginning. Blockchain technology could do so much more.

That’s why I was taken immediately with Ethereum (ETH). The platform could do just about anything you could put into code. And that had enormous implications for finance, especially for consumers without traditional financial resources, like banks or brokers.

And today, the case for Ethereum couldn’t be stronger. I’ll give my reasons below. In the meantime, feel free to check out my article I wrote on Ethereum back in May. And also take a gander at my article on why blockchain is changing just about everything we do.

The Nuts and Bolts Behind Ethereum

Before we take a look at what Ethereum (ETH) has been up to – and what awaits it down the road – let’s do a quick review.

Like Bitcoin, Ethereum is an open-source, decentralized, ledger-based blockchain technology. While that may sound complicated, think of it as a fancy spreadsheet with a list of transactions that is copied across a vast array of computers. To transact business on the blockchain, you and the person you’re doing business with have to follow the rules set out in the transaction. If you do – and if everyone else on the blockchain verifies that you did – then the transaction is finalized and added to the blockchain. This all happens using sophisticated cryptography solving complicated puzzles duplicated across all those computers. So, doing business on the blockchain is super-secure.

But beyond these common characteristics, Ethereum is different from Bitcoin in many ways. Here’s what I mean: Continue reading "Don't Miss This Crucial Ethereum Update!"

Important Bitcoin Update!

Back in May, I talked about my reasons why everyone should own a little Bitcoin (BTC).

Since then, BTC has been on a wild ride, to say the least!

But the factors I talked about in May are still at play. That’s why today we’ll do a much-needed update on why Bitcoin and why it should still be a part of just about everyone’s portfolio.

A Bitcoin Refresher

Before we get into what’s happened with Bitcoin recently, let’s take a step back.

Like other digital currencies, Bitcoin doesn’t exist in physical form. Rather, it exists in digital form on computers. And because most bank accounts exist in digital form, Bitcoin is like something you’re already used to Your bank account. And like your bank account, Bitcoin has utility: You can use it as a method of exchange or hold it as a store of value.

But beyond these similarities, Bitcoin and your bank account are pretty different. In order for your bank to function on your behalf as either a method of exchange or a store of value, it needs to sign off on your account’s value and existence. You also have to rely on the bank’s computers to make sure your money is safely guarded. Continue reading "Important Bitcoin Update!"