The recent upswing of the value of Bitcoin had its moment in the sun and as short lived as it was, it hasn’t curbed worldwide intrigue. As quickly as the news broke that the virtual currency reached its highest value in three years, the value sunk 23% to roughly $887. Valued at over $1,100 at its peak earlier this week, 1 Bitcoin is now worth somewhere in the neighborhood of $906 (USD).
Fascination with a currency that eliminates the middle man - the central banks - has prompted the latest project from global entertainment distribution company, Gravitas Ventures. They’ve released a documentary covering the subject of Bitcoin, ‘Banking on Bitcoin’, which became available on demand and in select theaters as of January 6, 2017.
It’s being reported that the rise in China’s yuan against the US dollar is to blame for Bitcoin’s downward slope. A lot of the crypto currency trade comes from China, so this coupled with concerns regarding potential rises in US Federal Reserve rates, have contributed to Bitcoin’s worth.
In collaboration with Periscope Entertainment, the 90-minute documentary was filmed in New York. Understanding the ways of virtual currency isn’t something that’s second nature for us all but a film like this can certainly help put things into perspective.
Do the inner workings of it all really matter to you? What prompted you to finally take the Bitcoin plunge? Are you concerned that you'll suffer a loss transacting in virtual currency? Tell us all about it and check out the trailer for Banking on Bitcoin.
Sources:
‘Banking on Bitcoin’, gravitasventures.com
‘Bitcoin plummets over 23 percent after nearing all-time high as 'volatile little bubble' bursts’, Arjun Kharpal, cnbc.com, January 5, 2017
jade
7 years ago
That title is right on the money froggy! Gees.................... It 's really not effecting me much at this point. I mean that I'm not holding any large numbers of Bitcoin at this time, but I do still think about it every time it goes way up. The trend seems to be, when Bitcoin reaches a new high, it takes a...
That title is right on the money froggy! Gees.................... It 's really not effecting me much at this point. I mean that I'm not holding any large numbers of Bitcoin at this time, but I do still think about it every time it goes way up. The trend seems to be, when Bitcoin reaches a new high, it takes a big dive almost immediately after. My concern is that the US Government will find a way to stop US players from using Bitcoin at online casinos, just like many methods in the past.
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nashek
7 years ago
To me when bitcoin casinos were launched online it felt not very risky to play them as you usually deposited and withdrawn if lucky the same day or at least a day or two after your play. Changing the value of bitcoin takes much longer so in fact I believe it shouldnt affect your play if it's not a long time playing . Anyways...
To me when bitcoin casinos were launched online it felt not very risky to play them as you usually deposited and withdrawn if lucky the same day or at least a day or two after your play. Changing the value of bitcoin takes much longer so in fact I believe it shouldnt affect your play if it's not a long time playing . Anyways I for example saw many times big wins reported in this currency , so even tho it sinks it looks still promising to give it a try.
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