The drop of bitcoin value projected as inevitable by spring of 2016
due to increasing complexity of block calculation and instability of
the whole bitcoin ecosystem doesn’t seem to be in a rush to actually
happen. In fact, bitcoin value was growing steadily the whole March
through and settled at the end of the month at 400 US dollars, a
quarterly record. A further drop to 350 is still being projected by
experts, even as the market reaches a record turnover, over 4 billion
It is worth noting that the cryptocurrency market is never stable, as
daily fluctuation in bitcoin value regularly reaches up to 4%. Yet
bitcoin continues to show signs of steady growth, which has quite a lot
to do with ongoing development of the whole cryptocurrency ecosystem as
well as significant influence of powerful investors.
New Development Stage for Bitcoin
JM Bullion, on of the leading companies in the world in manufacturing
and selling of precious metals, announced in March of its decision to
accept bitcoin payments. A company representative confirmed a new
partnership with BitPay, the largest international payment system.
Bitcoin transactions can be made both through existing exchanges and on
BitPay continues to grow as well, introducing new technologies
facilitating cryptocurrency transactions. The JM Bullion partnership
represents one of the first major steps towards entering a serious
international market; following this announcement, several major
corporations expressed interest in following in the metallurgical
industry giant’s footsteps.
2016 might end up representing the pivotal moment when cryptocurrency
emerged from the shadows completely and ceased to be an object of
purely abstract trade. More physical devices utilizing the principle of
grid computing get introduced into the world. One of the first among
such devices called Ping21 was recently presented by 21inc company. A
single-board mini-computer, Ping21 is the first proof-of-concept that
allows buyers to pay Bitcoin in exchange for distributed ping
statistics from an aggregated network of 21 servers. This enables the
machine to earn digital currency in an alternative way compared to
mining and 21inc believes that when compared to a company like Pingdom,
this type of work, in theory, could be as profitable as mining.
Microsoft to Enhance Cryptocurrency Support
Microsoft, a transnational corporation widely known for its
conservative tendencies and fondness for proprietary licenses,
officially announced enhancements in bitcoin support within its
software infrastructure. Namely, native bitcoin support was added to
Microsoft Office package and Unicode encoding.
A new cryptocurreny called Ethereum might have a little to do with
how common appetite for alternative payment systems is being whetted.
This is a currency with total capitalization that’s already reached a
billion dollars. Ethereum developers claim that their creation is not
just another cryptocurrency but a whole new self-sustaining system out
to radically rewrite the rules of global marketplace.
Ethereum development is what Microsoft is hedging its bets on, as it
was recently announced that development environment of new
cryptocurrency is open for programmers from all over the world. The
code of this new product is open source, and it allows for creating new
decentralized applications using independent block chain.
Ethereum, as noted above, had a promising start in March, with its
price reaching up to 15 $ by mid-March. In the next two weeks Ethereum
developers announced several important innovations, and that obviously
had a positive effect on the marketability of the new cryptocurrency.
Namely, they announced the second release of Ethereum independent
blockchain that allows for full decentralization with complete
independence from the source.
This announcement made Ethereum prices soar, reaching up to 0,04 BTC
for 1 ETH. After growing all the way to March 20, Ethereum then slowly
slipped down to 0,02 BTC, an equivalent of 10 $. An unusually high
trading volume was noted, and such exchanges as Bitfinex and Coincheck,
notoriously reluctant to acknowledge alternative cryptocurrencies,
responded by adding full Ethereum support.
Ethereum developers continue to work on enhancement and improvement
of performance of their system aiming for practically instantaneous
transactions which can end up a significant advantage over rather slow
bitcoin. Taking into an account its impressive capitalization and
constant reinvention, Ethereum might end up a serious contender to take