Will Bitcoin Continue to Rise and Inevitably Fall?

20171229_tulip

I've received quite a lot of feedback on my previous article on Bitcoin and rather than reply to them I thought it would be best to write a follow-up article. Most of the comments I've received mistakenly construed the fact that I was drinking the Bitcoin Kool-aid and that we should all buy, buy and buy some more before it's too late.
Escrow.com

Bitcoin, like fiat currency, at its core is a concept. If enough people buy into the concept, then it has value. What I was commenting in my previous article is not whether you should buy or not but whether the Bitcoin was going to go up. All the indicators from volume of transactions (both monetarily and value) are still rapidly going heading north which suggests a growing demand for essentially a dwindling supply.

The reduction is supply is largely due to people holding their coins in the belief the price will continue to rise. Why sell today when you can sell tomorrow for $1,000 more.

Until the "currency" stabalises the dream of Bitcoin being used to buy a cup of coffee will remain just that, a dream. The wild hourly swings mean Bitcoin is largely driven by speculation.....the question is when will the speculation tap out…..as it must.

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mgilmour
Completely agree with you that Bitcoin has some real problems on both price and speed.....maybe Bitcoin cash will solve these.... Read More
31 December 2017
mgilmour
Yes, I agree that they are a long hold....
31 December 2017
mgilmour
First of all let me congratulate you on the domain sales! Well done on that! Anything worthwhile always takes time. It will be int... Read More
31 December 2017
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Why Bitcoin Naysayers are Wrong

20171227_bitcointop

I’ve been reading a lot about the various cryptocurrencies and trying to dig through the misinformation to get to the bedrock of what’s going on. The first thing I’d like to say is cryptocurrencies are a complete game changer for the world financial system…..ignoring them may well be detrimental to your business.

Escrow.com
For those of you wondering….at its simplest level the blockchain operates in a similar fashion to the DNS that most domain investors are familiar with. There are additional levels of cryptography added (sort of like DNSSEC) to ensure transactions are legitimate but what it all boils down to is a ledger of transactions held by a distributed computer network.

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mgilmour
I've just posted an article clarifying my thinking on crytpo-currencies. A few comments though: 1. Transactions that require elect... Read More
29 December 2017
vanclute
I'm with you Michael - Bitcoin has no actual business model. Right now it's just got a massive first mover advantage, and the ins... Read More
29 December 2017
mgilmour
Great comment Vanclute.....I would love to see a mainstream (ie. general population use) crypto-coin but with all the fluctuations... Read More
29 December 2017
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The Best Christmas Gift...

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I would like to wish all the readers of Whizzbangsblog, members of the Domainers Network and sponsors a very Merry Christmas and a prosperous New Year. I can’t believe another year is over and NamesCon 2018 is just around the corner.

Escrow.com

Both Roselyn and I were just so proud and happy for our son Timothy marrying his wonderful bride, Ruth, on her mother’s farm. It was an incredibly joyous occasion that caused me to reflect on three words that are very appropriate to the Christmas season and principles I try to abide by in my own life, “truth, trust and learning”.

You can’t have a relationship, whether it’s with your wife, kids, business partner, colleagues, or other companies without being truthful. Taking the more difficult road of telling the truth in a manner that it can be received will pay massive dividends in your relationships over the years to come.

If Roselyn never knew whether I was telling her the truth, then what would my marriage of 30 years be built upon? It’s exactly the same with business relationships. There needs to be a level of transparency where the other party is confident you are telling them the truth.

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Rawgi
I think you have a very good philosophy about how to have the best relationships with all the people in your life, immediate, fri... Read More
22 December 2017
mgilmour
A Merry Christmas to you as well Rawgi. BTW - hopefully we can find a game to play together again like Firefall :-)
23 December 2017
Rawgi
I would like to find another game like Firefall, that would be fun. I have been looking , but nothing yet. Mark Kern has a gam... Read More
24 December 2017
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Domainers Network Update

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There’s been a flurry of activity on the Domainers Network with individuals joining groups, making friends and doing some business together. I’ve always wanted to create a social network for just domain investors and those in the domain industry and now it looks like it’s all coming together.

Escrow.com

If you are a part of the Domainers Network you will also see a lot of articles, videos etc. posted from research that I’ve been conducting on a wide range of topics. Anything from ICANN news right through to cryptocurrencies….if I think it’s an interesting read then I’ll post it in the Network. I would like to encourage others to also post interesting articles that they find as well.

You can view the list of public groups by clicking on the menu item....also anyone can create their own group and set it to be either public or by invitation only. For instance, I’ve just added a public group called Crypto-currencies as a place to post and discuss anything about cryptos such as bitcoin, Ethereum, Ripple etc. After creating the group I then posted a poll question asked whether Bitcoin is going to go above $25,000?

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What’s New With Escrow.com?

20171215_escrow

As domain investors know, for many years Escrow.com has been providing a critical part of the domain industry ecosystem. The trusted independent link between buyers and sellers have enabled many investors to complete secure transactions for their domain sales. So what’s new with Escrow.com?

While I was traveling through Europe at the end of October I received an email from Escrow.com announcing that they have now released a completely updated API for public beta. I knew this major upgrade was clearly going to be the platform upon which other products and services could be built.

For example, the new API potentially means websites, marketplaces, classifieds sites, shopping carts, and mobile apps can have escrow services built directly into them. This opens up a huge range of potential new clients for Escrow.com that is much broader than their traditional business clients.

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