The ‘future of finance’, the internet of money, is steaming full speed into $7,000, now higher by 8% for the day. Bitcoin cash is higher by 17% and mostly all non-bitcoin ICOs are sharply lower. This isn’t an Ethereum party, but one rooted in Bitcoin.
According to CoinmarketCap.com, the total market cap of BTC and the other 1,248 currencies that make up the crypto-market, the total market cap is now $188 billion — a new record high.
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Nothing burger……..
Stop using that phrase, please. You remind me of Hillary KlinTon.
$7,000 for a line of code….. awesome
Looks like they are selling it off now. Gotta love a currency that trades like this.
Oh by the way, why would I want to use Bitcoin with Amazon when I can use my credit card, get 1-5% cash back, airline miles and get floated a 30 day loan? Why would anyone pay cash for things when credit card companies are paying you nicely to use their plastic.
If I was a vendor, why would I accept a credit card transaction (plus fees) if I knew a zero transaction fee locked in, instant price?
That only works for real time transactions. No one is gonna accept a 30 day receivable paid in Bitcoin. What’s the price gonna be in 30 days?
Might change if the futures are liquid enough. But for now the couple % in credit card fees beat a potential 50+% unhedgeable price move.
True. I’m thinking cc companies are already trying to gain footing.
You have cash right now, why do people still accept credit card at any location based on your argument?
Zero transaction fee? How?
Still gotta make BTC into USD some how.
Well as long as bitcoin is in permarise mode, I think a lot of people might say keeping their discretionary cash in BTC is already paying them far more than a CC company, and can easily rationalize buying things with it as just spending a bit of their “profits”. There are also time and transaction costs to converting those “profits” back to USD, which also may offset that 1-2% kickback.
You are also using the profile of the person who pays off their CC on time every month and only uses it for that 1-2% kickback, while a much larger number of people pay 18% interest every month and hate their CC companies, and another slice of the population already uses only debit cards only for similar reasons.
Then there is the incentive the vendor has of also not paying the CC merchant fee for the transaction, which at some point they might decide to pass on to the consumer with a BTC discount. On the less reputable side of vendors I’ve seen offers of 25% discounts on BTC purchases, clearly for other reasons that would not apply to the likes of Amazon.
Another area I’m not sure has been explored is taxes. Would a BTC purchase be seen as barter? How would that revenue be valued for sales and income taxes, both corporate and personal, especially when the price of bitcoin is so volatile vs. the dollar?
bitcoin = FANTASY
No worries, ladies. BTC is safely and securely encrypted. It’s not like the chineez are planning to hack the blockchain w/ their quantum computer on the heels of the world’s first video call made via quantum-encrypted communications and the completion of a quantum-encrypted fiber optic trunk cable. Surely these nice gentlemen are going to ignore BTC and not going to crack the BTC encryption w/ a quantum machine, …. right? Right?
https://tinyurl.com/ybofpwk8
Even if they fail to crack the code and steal every bitcoin in existence, they will certainly be able to mine all of the outstanding bitcoins going forward (in under 5 seconds).
They will own blockchain. They will own the world… mooh hah hah hah hah (extra evil).
In truth, once computer power scales to that level, blockchain and whatevercoin will become irrelevant, much like the penny (my grandkids won’t even bother to pick those up when they see one on the ground).