Bitcoin

New startup aiming to revolutionize gaming by allowing players to earn Bitcoins

We all have a favorite game on which we spend a huge portion of our spare time without getting anything practical in return other than the satisfaction of reaching the next level, unlocking a new piece of armor or getting first place on the high scores table.

For decades the mere joy of accomplishment has been enough to keep people hooked playing a game for hours at a time, but what if you could step even further down the rabbit hole? What if you could earn Bitcoins by playing games? This exciting new chapter in video gaming can soon become a reality thanks to industry experts and game developers over at Bitszer who are working around the clock to make it happen.

What is Bitszer?

In layman terms, Bitszer is a massive cross-platform auction house system that any game developer can easily integrate into their game.

Once set up, it allows the game players to exchange various in-game items like swords, armor, power ups and much more in exchange for Bitcoin or if you prefer, you can replace your old game currency, like gold or diamonds, with Bitcoin altogether and give your players a direct way to earn free Bitcoin by playing games.

Since all the games are connected in one Bitszer network, the Bitcoin balances get updated in every game that runs under the Bitszer system whenever a transaction takes place (ie. player A purchases a weapon from player B).

With more than two years in the making, the Bitszer team is aiming to be a fast, secure and reliable central platform for all present and future video game developers who are interested in offering a new and exciting incentive to their players in the form of Bitcoin payments.

Bitszer is for the gamer

Earn bitcoins by playing games on the Bitszer network

In most games a player has the ability to create new items using the skills they’ve learned. For example smithing new swords, crafting armor or mixing up various potions and other consumables that help them progress in the game.

In a game that uses the Bitszer auction house system, these items effectively become virtual assets that can be sold to the highest bidder with Bitcoin as the exchange currency.

And because in most games you can create rare and more valuable items only after you have spent enough time training your skills first, the amount of Bitcoin you can earn will be in direct relation to the amount of time you spend playing a game.

If you’re a gamer, make sure to join Bitszer and grab your unique account number right now when they’re still short and easy to remember. In the future your account number alone is worth bragging about!

Bitszer is for the developer

It’s clear why Bitszer will be useful for the average gamer who can earn income from playing their favorite games, but what’s in it for the game developers?

Well, for starters Bitszer takes a 3% cut from each transaction in the game and splits it 50/50 with the game developer. This means that you can effectively stop relying on annoying advertisements in your game to generate a profit.

Additionally Bitszer offers ready made themes and is fully customizable to fit the needs of almost any game, making it a practical turnkey solution for game developers who are looking for a simple way of implementing a secure Bitcoin driven economy directly into their games.

As a developer, you can potentially save thousands of dollars and months, if not years worth of working hours by integrating this system into your game rather than having to create a similar system from scratch.

And finally, being part of the Bitszer network means that more players will be driven to play your games because they already have a Bitcoin balance that they can spend in the game.

How much time people spend on video games?

A recent study conducted by the Entertainment Software Association reveals that in 2015 a total of 42% of Americans were spending more than three hours per week playing video games and more than half or 51% of American households own a dedicated gaming console.

Another market research company, the NPD Group, focused their attention towards the more “heavy gamers” and showed that right now there are more than 34 million people in the United States alone who spend 22 hours per week, or more, playing video games. That’s a lot of hours.

Keep in mind that most of these people (excluding professional streamers and Youtube gamers) are just playing the games without getting anything of value on return. Now imagine what will happen if you introduce Bitcoin as an incentive for the gamers to keep playing games.

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Filed under: Bitcoin, GamingTagged with: ,

Bitcoin gains 1.36% within 1 hour after bullish news from Glenn Hutchins

Bitcoin gained 1.36% earlier today rising from $442 to $448 in just one hour right after Glenn Hutchins, a Federal Reserve Bank of New York board member and investor, came forth with bullish news about Bitcoin and the BlockChain technology. In his speech he drew a bold parallel between Bitcoin and the Internet and, among other things, mentioned that he has bought Bitcoin himself and is currently investing in various Bitcoin companies.

Bitcoin hike from 442 usd after Glenn Hutchins news

We didn’t reach $500… yet

In the last weeks of April there was a lot of fuss on Bitcointalk about the possibility of the price reaching a whopping $500 USD mark on or before May 1’st, but as we all now know, this somewhat feasible dream was instead met with a steady two-day price decline on the 27th and 28th of April where the value of Bitcoin fell sharply a total of -7,25%.

Impact of bullish news

Glenn Hutchins is a man to be taken seriously and we have already witnessed that the first wave of bulls have returned, albeit cautiously for now.

When a board member of a Federal Reserve Bank of New York comes out in the open and says that “hey, I’ve bought Bitcoin myself and I will start investing in Bitcoin companies“, it’s not that far-fetched to think that at any moment now the herd will follow.

$500 in May or early June?

This, along with the fact that an event called “the halving” is right around the corner, leads me to believe that $500 in May is a very strong possibility especially because in the last few days the price has fallen just enough for it to look delicious again for the bulls.

After all, Bitcoin is an asset more closely controlled by the fundamentals than anything I’ve seen before. It’s true that technical analysis works to a certain degree, but every time news like this comes out, Bitcoin simply goes nuts!

It’s like a feather in the wind that’s blowing from many different directions and that being said, I believe this month and the next will be a very interesting ride to either simply observe or be a part of directly.

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Price of Bitcoin pulls back from yesterday’s high of $452+

The price of Bitcoin retraced from yesterday’s high of $452 to $443 today on the 22nd of April, 2016 declining -1,99%. It has currently formed a nice hammer on the BitstampUSD chart and while there is still more room to go down on the Slow Stochastic oscillator along with MACD and RSI, the overall feel is very bullish and looks like we’re currently around a good place to go long once again.

Bullish Bitcoin getting everyone excited

Bitcoin price pollGiven that the price of BTC has been moving rather slowly for the past couple of months, it’s no wonder that there’s an increased activity on Bitcoin related forums and message boards now when the bulls have returned and people are eagerly looking forward to the $500 per coin in the short term.

When a poll was opened today on Bitcointalk, the majority of voters believed that Bitcoin will reach above $480 by May 1’st which is only 8 days from now.

A beautiful swing

When you look at the chart below you’ll see that we are currently at around a very good level for buying some more right after we get a confirmation candle along with a solid crossing on the Slow Stochastic oscillator in the oversold area.

BitstampUSD 22 April 2016 Stochastic slow fast Bitcoin price swing trading

Bitcoin payments coming to Steam

Furthermore, a popular gaming platform, Steam, just came out with more bullish news for Bitcoin by announcing yesterday that Bitcoin is coming soon to Steam as a means for gamers to pay for various games.

Bitcoin payments coming to steam

News like this, like we’ve seen numerous times before, tend to work out really well for the Bitcoin bulls as price is likely to increase soon after.

So, what are you still waiting for?

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Bitcoin bullish, rising for two days from $433 to $445+

It looks like the three mysterious flash crash/recoveries on the BitstampUSD chart had absolutely no effect on the overall market as BTC is yet again strongly bullish with a slight hint of a small retracement on the horizon as the stochastic oscillator (both fast and slow) are crossing in the overbought area at the time of writing this post. Check it out:

BTC USD price on April 21 2016 445 usd

Will Bitcoin reach $500?

By lurking on the Bitcointalk forums it has become apparent that a lot of people are expecting it to reach at least $500 by the time block halving happens, but after that the opinions about the future of Bitcoin get mixed.

On one hand there are people who believe it will continue to rise and eventually reach a new all time high and on the other hand there are speculators who say that Bitcoin will not survive after the halving has occurred.

Now, I don’t believe that Bitcoin will simply die just like that, but hoping for a Bitcoin that’s worth thousands of dollars is a little unrealistic even after the halving because halving doesn’t actually decrease the overall supply, but merely slows it down.

In reality nobody knows for sure, but I personally believe that it’s worth betting on a new all time high price instead of being overly pessimistic about it. Okay sure, there are a few competitors on the horizon like Etherum, but at the end of the day Bitcoin will be worth exactly how much other people are willing to pay for it and since the hype is still strong and we’ve only recently gotten our feet wet in the mainstream trading world, I don’t see why we can’t rise higher.

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Filed under: Bitcoin, FinanceTagged with: ,

Bitcoin just flash crashed -10.93% and then recovered again… twice in 3 hours

Something strange just happened to the price of Bitcoin where it rapidly fell from $430 to $383 in just an hour and then recovered again only to go on round two just an hour of standing relatively still. At least that’s what the Bitstamp charts are saying. Have a look:

Bitcoin just crashed but recovered shortly... twice

What’s happening on Bitstamp?

Well, something had to cause this and I have to admit I jumped a little when I saw this just now, but it appears it only happened on Bitstamp as Bitfinex, Kraken, CoinBase and BTC-E seem to be completely oblivious about it.

Still, knowing that there are a lot of traders out there who only rely on Bitstamp data, I can’t help but wonder if this incident can fuel a significant panic dump very shortly?

It certainly doesn’t look natural/unintentional, but right now all we can do is wait and see if anyone can shed some light on the matter. I guess it’s time to lurk on the speculators forum again…

21 hours later

This is an update 21 hours later and looks like it happened again a third time:

Another flash crash and flash recovery from Bitcoin on Bitstamp Sunday

More and more bears are showing up as we speak so I don’t think this is going to hold for much longer.

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Filed under: Bitcoin, FinanceTagged with: ,

Is 420 the new floor for Bitcoin?

Bitcoin sure likes to blaze it or so it would seem. The price is back around the 420 area where it reached in November 2015. Ever since the Mike Hearn news, Bitcoin has been struggling to break the $400 resistance, but it finally managed to do so just in time for Valentine’s day and while most speculators on BitcoinTalk tend to agree that this is the new floor for the crypto, I’m a little worried about the head and shoulders pattern that’s forming on the hourly charts.

Head and shoulders on 1H

As I’ve stated before I’m a Bitcoin permabull and would love to see the cryptocurrency rise to an all time high this year. I was super excited to see the breakout on Valentine’s day, but it’s possible that this is about to turn south real quick due to the formation of a very popular chart pattern known as the head and shoulders. Have a look at the chart below to see what I mean.

head and shoulders pattern on bitcoin

A great source for learning, Investopedia, explains it pretty well. Basically if the neckline is broken, we can expect a more serious downward movement to take place. Right now it doesn’t look like the neckline is broken just yet, but it’s definitely getting closer due to the selling power increase as indicated by the red bars at the bottom of the chart.

Fundamentals bearing more weight

There’s been plenty of good news on the media surrounding Bitcoin lately and it’s the main reason the cryptocurrency is rising right now. I’ve also noticed that the technical traders are getting burned more often than before with not just trading Bitcoin but pretty much everything else.

For example the popular forex pair EUR/USD surprised many seasoned technical traders this year with a massive surge upward and while I’m not qualified to really speculate on the matter, I saw a very influential trader post on the Forex Factory forums that technical trading is getting more and more difficult to the point where it no longer makes sense to be involved at all. So perhaps the 2016 financial crisis will remove most technical traders out of the equation for Bitcoin as well?

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Bitcoin slowly recovering after Mike Hearn news in January

In the first weeks of January 2016 a leading Bitcoin developer Mike Hearn announced to the world that Bitcoin is dead and broken. In his article he talks about how the community has failed and how the Blockchain technology can’t reliably handle too many transactions at once. He also mentions that the market is controlled by Chinese miners and just two miners control more than half of the entire hash power. Naturally this announcement caused a network wide panic as people were worried Bitcoin is done for good this time.

BitcoinsBitcoin’s death greatly exaggerated

After the usual media shitstorm and Bitcoin selling marathon came along the CNBC and announced to the world that Bitcoin’s death was mostly just exaggeration and even though Bitcoin has been officially declared dead more than 90 times in its relatively short lifespan, the cryptocurrency will rise and continue moving forward just like it has always done.

Moreover, various conspiracy theorists claimed Mike Hearn to be a shill working for MI6 or some other major corporation, perhaps even the central banks. While unlikely, we can’t really rule anything out at this point because one can’t help but wonder whether Mike Hearn profited from the Bitcoin selling that he himself initiated. It’s quite possible that the first wave was in fact from his own Bitcoin stack which he dumped on the market.

Price stabile below 400 USD

After the Mike Hearn news Bitcoin’s value on most markets started to rapidly fall as traders were trying to get rid of a “broken” currency as fast as possible. Eventually the price found stability a little above $360 USD per Bitcoin and has since then been hovering in the sub 400 area for a month.

From the 2nd half of January until mid February 2016 the price of Bitcoin fluctuated systematically between $390-$365 indicating that the speculators were still around and hadn’t abandoned ship completely. The past month has been a very profitable time for the technical traders because of the market’s rather predictable movement.

Testing $400 on Valentine’s day?

It’s Valentine’s day today and interestingly the price of Bitcoin has just increased from $380+ all the way up to $399 within just a few hours. There’s just one more dollar to go before we test the $400 mark and things are looking very good right now. In fact at the time of writing this post the price has already risen to $399,7 quite rapidly so I believe we will see 400 in just a few moments.

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