Tag: BTCS

BTCS Inc (OTCMKTS:BTCS) Stock In News: Are You Excited?

In recent times, blockchain technology has been adopted in a big way by many industries, and hence, there are expectations that the industry is going to eventually grow quite rapidly. As a result, it is no surprise that investors are nowadays increasingly on the hunt for stocks of companies that are engaged in the blockchain technology sector.

One of the companies from the sector to have garnered considerable attention in recent days is BTCS Inc (OTCMKTS:BTCS). In the past week, the blockchain technology company has seen its stock soar by as much as 33% and such gains are likely to bring it into the attention of many investors over the coming days.

This morning the company is in news again after making a key announcement with regards to its operations. BTCS announced this morning that XTZ or Tezos has been added to the blockchain infrastructure operations. It is a significant development for the company and something that is expected to be watched closely by market participants. XTZ is a decentralized blockchain that was established back in 2014 and is primarily meant for decentralized applications as well as smart contracts.

At this point in time, XTZ is the 45^th biggest cryptocurrency in the world thanks to its market capitalization of $2.75 billion. It should be noted that at its initial coin offering that was held in 2017, XTZ managed to raise as much as $232 million and at the time it was regarded as one of the biggest offerings.

(OTCMKTS:BTCS) BTCS Inc. & Blockchain

Introduction

BTCS Inc. ( BTCS ) is an early adopting online e-commerce marketplace where   merchandise is available for direct retail purchase using digital cryptocurrencies, such as bitcoin, litecoin, and dogecoin. The company name is an acronym of sorts for Blockchain Technology Consumer Solutions. It originally incorporated in Nevada in 2008 as Hotel Management Systems, Inc. and entered into an Exchange Agreement with BitcoinShop.us, LLC in 2014 formally changing its name to BTCS Inc. in July 2015.

Various summaries of the company found online indicate that the company’s business includes:

• A cost-effective bitcoin mining services business, focuses on transaction verification
• A beta e-commerce marketplace for the aforementioned cryptocurrencies
• A bitcoin wallet based on a relatively well known technology and two-factor authentication for secure storage of bitcoin keys

According to various digital currency news sites and press releases dating back to 2014, BTCS claims to have invested in several technologies and firms including the GoCoin payment platform (which appears to be a solid player in the field), GEM (a Bitcoin API developer which is positioning itself as the go-to blockchain company in the healthcare and supply chain fields providing “bank grade” security) and what looks to have been an aborted attempt to merge with Spondoolies-Tech, Ltd. (a cryptocurrency mining equipment vendor) in 2015. Spondoolies shuttered operations in 2016 due to internal problems including inability to meet payroll.

For more info use link below :

https://www.otcmarkets.com/stock/BTCS/quote

Recent News and Trading:

Other recent occurrences include a default on a lease with CSC Leasing Company of numerous servers and power supplies resulting in the forfeiture of a $25,000 security deposit and, of course, the return of all of the equipment to CSC. At this point it is not clear whether this represents a drawback in BTCS’ ability to process e-commerce transactions or whether the capacity lost with the defaulted lease was made up for in other ways.

A visit to the website (shop.btcs.com) reveals a relatively random catalog of consumer items ostensibly available for purchase, but it appears that the bulk of products represented are merely placeholders, perhaps served up by external scrapers or scripts. In limited research, we were unable to find any items actually “in-stock” or “available” for purchase.

All time high was $1.37 per share in early February, 2014 with quite a fall off very shortly thereafter and a settling in at zero from June 1, 2016 to January of 2017, with a recent high of $0.18 in March, 2017. We’re seeing a lot of fluctuation within the $0.07 and $0.08 range over the past few days and since January of this year, daily volume has fluctuated from 120,000 all the way up to 30,000,000 and back down again, with volume for today at 3,389,582 at a closing price of $0.07. There was a 1/60 stock split in February of 2017.

* Financial statements are incomplete and/or not up-to-date. We could not run down Income Statement, Balance Sheet or Cash Flows for 2017.

Conclusion:

Cryptocurrencies, including Bitcoin, are almost certainly here to stay. Even as the central banks may be attempting to subvert these alternative currencies, the technology behind the blockchain is solid and there is a wide community of developers and entrepreneurs pushing the boundaries and penetrating new sectors of the traditional online economy. There will likely continue to be hacks and breaches such as the $460M disaster that struck Mt. Gox in 2014, partially leading to a temporary decline in Bitcoin’s value, but the technology is simply too firmly entrenched and it stands to reason that security will improve. BTCS was a relative “mover and shaker” in the bitcoin/cryptocurrency world just three short years ago, but with a dearth of recent information to go on, the fact that their flagship website does not appear to be functioning yet (granted, it bears the “beta” designator) and the fact that filings are not up to date or complete may indicate this is one to view with careful scrutiny.