Bitcoin formula falls below the 250 dollar mark

The Bitcoin price has fallen below the 250 dollar mark and if you look at the order books of the major stock exchanges, the Bitcoin price seems to be falling even further.

Today’s opening price was USD 267.08 and fell drastically after only two hours. Shortly after 4 a.m. the price then dropped below the 250 mark, which according to experts is an important psychological limit. As a result, the price was able to stabilize for a short time, but then fell further and broke through the 230 dollar mark.

At present (14 o’clock) the current Bitcoin formula lies with 228 US Dollar and/or 193 euro

Market observers had previously warned that if the 250 US dollar mark was breached, a further Bitcoin formula slump could occur. Athur Hayes of BitMEX wrote in his Bitcoin formula trading newsletter that the next psychological limit will be 200 dollars.

Market depth 10:35am. Source:
Order books show large sales orders
The order books of the major Bitcoin exchanges show an outbreak of trading volume today. Primarily consisting of sell orders.

On Bitfinex the trading volume of the last hour consisted of 70% sell orders. In the last 24 hours this value was 64%.

Also on the Bitcoin stock exchange Bitstamp, which recently went online again, the sales orders have clearly picked up speed. Around 1,000 coins are for sale at a price of 244 USD.

The miners pulled the plug

The Bitcoin descent has several effects on the Bitcoin world. While traders try to sell their Bitcoins at the best possible price or take advantage of volatility to make small profits, Bitcoin miners do not feel fairly rewarded due to the low price. For example, the cloud mining service CEX.IO has temporarily discontinued the service due to the low price. Although the Bitcoin mining problem found its way to Plateau, it is still at a new all-time high.

“This is the point where mining costs outweigh profits,” says Officer Jeffrey Smith in a blog post.

Mining Difficulty
So how low is the Bitcoin rate going to fall?
As already mentioned by several market observers, the Bitcoin price, after breaking through the $250 market, could still fall below the 200 market.

Martin Tillier (Nasdaq) assumes that the true value of a Bitcoin is around 140 US dollars. This is slightly more than the price before the big “bull run” in autumn 2013.

Update 14.01.2015 08:50h: The 200 US-Dollar mark was broken half an hour ago. It remains to be seen whether Martin Tillier’s assumption that the real Bitcoin price is around 140 USD will come true.

Blockchain app design and the news spy and what you can learn from Apple

Steve Ehrlich is an associate and lead analyst at Spitzberg Partners, a consulting firm with strategic relationships with companies such as Ming Labs and the Wall Street Blockchain Alliance. Matthias Roebel is CEO of Ming Labs and Ron Quaranta is Chairman of the Wall Street Blockchain Alliance.

In this special CoinDesk 2016 Review Ehrlich, Quaranta and Roebel explain how Blockchain companies with a focus on user experience score better on the mainstream market. For 2017 and beyond. Many people hear the word blockchain and must immediately admit that they can never take advantage of this innovative technology because they can either “not use encryption” or cannot program.

For some of us in the blockchain sector something is changing for 2017. This year we are going beyond the purgatory of proof-of-concepts and pilot projects. Now it’s about full product integrations and so it’s important to eliminate mental barriers for potential users.

Fortunately, this is not a new problem for the news spy

You can simply ask a few random people on the news spy how the Simple Mail Transport Protocol (SMTP) works. In the vast majority of cases, you’ll get at most a questioning look. You know right away that you press a button and the email reaches the news spy within seconds.

What does that mean? This means that users should not focus on the functionality of the blockchain, but on future applications. To reach this point, blockchain applications must be intuitive enough for the everyday user. The crux of the matter is a simple and elegant user experience or User Experience (UX).

A bite from Apple
Many of us know people who are even overwhelmed with normal mobile phones, of smartphones first of all no talk. How many of us know someone who doesn’t know how to listen to a voice message? You have to keep in mind that the iPhone was not the first smartphone with its launch in 2007. And yet it took over the market because it was intuitive, easy to use and rich in functionality.

In short: it worked

Apple’s more than 10 years of leadership comes from its ability to meet customers’ expectations on a long-term basis. The means are formative products and technologies that are attractive, simple and appealing.

Blockchain developers would be smart if they kept the principle of the Cupertino company in mind.

Implications for Blockchain
Today’s blockchain developers and industrial stakeholders face similar challenges to Apple. They need to educate their customers and bring certain unique Blockchain features to the fore. And yet everything has to be arranged in such a way that it is intuitive and familiar to the user.

The focus should not be on what the blockchain offers from a technical point of view, because this way quickly leads to “a solution looking for a problem”.

Ali Nazem, Vice President of Corporate Development at Blockchain-Identity Fima ShoCard, sums up the challenge nicely:

“The key to blockchain adoption is to show use cases made possible by technology. Users don’t need to know the complexity of the underlying technology, just that the solution is intuitive and secure.

Olivier Veyrac, Vice President of Customer Development for payment service provider Align Commerce, confirmed:

“Most customers know nothing special about blockchain technology, all they really care about is that it’s fast, traceable, and easy to use,” he said.

Veyrac explained that when customers have questions, they explain Blockchain to them and everything makes sense.

But this is actually a demanding process.