Bitcoin This Week: Florida And Colorado Show Support For Bitcoin, Bitcoin Prices And More

Today on Bitcoin This Week we discuss new measures taken by the state of Florida and Colorado in regards to Bitcoin, we review Bitcoin prices and much more.

Colorado Proposes To Accept Bitcoin For Campaigns

According to local news, political candidates in Colorado could start accepting Bitcoin and other cryptocurrencies as donations for their political campaigns. The Secretary of State, Wayne Williams, made the proposal last week. The US Federal Election Commission (FEC) has already approved Bitcoin as in-kind donations for campaigns, provided the donated funds are transferred to their official accounts within 10 days.

Bitcoin Mining Consumes 0.5% Of The World’s Electric Power

According to a few reports, Bitcoin Mining could consume up to 0.5% of the world’s electric power by the end of this year. Last July, reports stated that the cryptocurrency mining industry was consuming more electric power than a small country. This would only increase by the end of 2018, making them extremely expensive and therefore no longer profitable.

Florida Tax Collector To Accept Bitcoins For Payment

A tax collector in Florida’s Seminole County, has announced its plan to begin accepting Bitcoin for payments of property tax, driver’s permit fees, license tags and more. According to Joel Greenberg, his office will begin accepting payments in both Bitcoin (BTC) and Bitcoin Cash (BCH) through its partner BitPay. This office will become the first US government agency to implement such a measure, and could mark the beginning of an acceptance of the crypto industry.

CEO Of Twitter Continues To Support Bitcoin

The CEO of Twitter and Square Inc., Jack Dorsey, has once again spoken of his stand with cryptocurrencies during Consensus 2018. In his speech he stated that cryptocurrencies will become the payment methods of the future. He spoke of this technology representing a radical change in the world with an incredible outcome, but noted the importance of educating regulators and the SEC to avoid further restrictions to cryptocurrency.

Bitcoin Shows Small Signs Of Recovery

Bitcoin (BTC) had quite a week. After opening above the $8,700 mark, it experienced quite a fall on Monday dropping to the $8,400. Although it recovered throughout the next day, reaching the $8,800 mark, it fell further reaching its lowest point of below $8,000 on Friday. Through the week there were small signs of recovery, slowly but surely climbing back up to eventually close the week at above $8,500. Apparently, Consensus 2018 did not have the impact the community was expecting, while in other years it has shown incredible growth, this year it appeared as if it almost didn’t matter.

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