BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) is on a nice 5-day rally. BTSC is adding a slight jump in price today at 5% with early morning volume above 2 million. We have highlighted how to view BTCS – a runner attached to the Bitcoin price.
Interesting to note, since launching the company website three months, BTSC has not announced any operational updates. Yet, BTSC continues to do well as Bitcoin itself appreciates, but investors should beware of the upcoming SegWit situation.
BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) bills itself as a company engaged in the mining of Bitcoin as well as Blockchain software development. Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new Bitcoins are released.
According to BTSC press materials, “Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet.”
BTSC is focused on bitcoin mining which is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second. The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins.
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Here is a review of the last release:
BTSC announced that it launched a new corporate website www.bitcoinservicescorp.com in August. According to the release, the company also plans to announce their earnings this week. “Bitcoin Services Inc began the mining of Dash in the 1st quarter of 17. Dash is Digital Cash You Can Spend Anywhere. Dash can be used to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world. In addition, Bitcoin Services Inc. has created a new subsidiary Crypto Capital Corp (www.cryptocapitalcorp.com) that will develop a new Crypto currency wallet. The wallet will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all-time high on August of 2017.”
BTSC has some strong potential but the space is starting to get full. As you may recall, just a few months ago, it announced that it began mining Monero in the 1st quarter of 2017, which was a nice catalyst for the company.
BITCOIN SERVICES I COM USD0.001 (OTCMKTS:BTSC) has a market cap of $31.01M and 462.84M in outstanding shares. The company still needs to issue press to help with transparency. The company is three months without press and just languishing in the stronger Bitcoin and recent record highs. Investors should clearly understand what they are investing in here and know the risks. Sign-up for continuing coverage on shares of $BTSC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $BTSC, either long or short, and we have not been compensated for this article.