Bitcoin (BTC) price prediction is 15719.21 ... - Gov Capital
Bitcoin (BTC) price prediction is 15719.21 ... - Gov Capital
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Major Stories In Crypto This Week
https://preview.redd.it/1oaizrm3yho51.jpg?width=1280&format=pjpg&auto=webp&s=e8870de366cc62eaad247a7e8ca18252cb6da19b Waiting for ETH fees to become cheaper From now on, every Monday we will be doing a weekly news digest where we will be discussing the biggest stories on the crypto market over the previous 7 days. Why are we doing that? It’s simple — we want to create a useful news outlet for our community members’ convenience. So, what events marked the third week of September? Analysts predicting a Bitcoin price rally “The whale exchange ratio is at the lowest level of the year — the fewer whales moving to the exchanges, the fewer spills and [a] higher BTC price”, said CryptoQuant CEO Ki Young Ju on Thursday. This indicates a possible price rally soon: the less coins whales send to exchanges, the less chance there is for the price to dump, therefore, the higher the chance for a price rally. This is proven by experience: the last time this figure dropped from the current level in April 2019, Bitcoin price grew from $4000 to $13000 over a few months. FORSAGE.io — how is this information useful to us?It’s important to remember that whenever the first cryptocoin’s price goes up, altcoins invariably follow suit. This means that if BTC shoots up in value, the possibility of TRX and ETH going up also increases, and that’s great news for the entire FORSAGE community. Is Ethereum still going the Proof-of-Stake route? A leading Ethereum developer, Danny Ryan published the official Ethereum Improvement Proposal EIP-2982 that implies the launch of Ethereum 2.0 and the switch to Proof-of-Stake. If his proposal gets passed, it may become implemented into the network, solving the issue of high commission fees. FORSAGE.io — how is this information useful to us?The high commission fees on the ETH network has been slowing down the growth of the FORSAGE community for the past month, because the price of tens and even hundreds of dollars per transaction is unacceptable to most people. We are all looking forward to the day this issue is solved. DeFi projects boom DeFi projects are becoming more and more popular — for example, Uniswap, a decentralized exchange, saw its token rise in value by 75% after listing on world’s leading exchanges, making it on the list of top 50 highest market capitalization assets. FORSAGE.io — how is this information useful to us?It is DeFi projects and their popularity that catalyzed the unprecedented increase in transactions on the Ethereum network, driving the price of transactions further up. After the price of gas for Ethereum transactions has been hovering above 100 Gwei for the past few weeks, on September 17th it jumped all the way to 700 Gwei. This is why we are very excited about the previous news story — the launch of Ethereum 2.0 Over 10% of all crypto payments take place in Eastern Europe Chainalysis has published another study that shows 12% of all cryptocurrency transactions that took place from July 2019 to June 2020 happened in Eastern Europe! This means the region is the fourth biggest market in terms of transaction volume, and while it is out-grossed by the giants that are the US and China, the region is growing quickly. FORSAGE.io — how is this information useful to us?The Eastern European region is developing, in part, driven by the increasing commitment of many countries to decentralization and economic freedom. This positively affects the local levels of crypto activity. Let’s find out where the majority of the FORSAGE community comes from! Leave a comment with your country below!
https://preview.redd.it/tykfykhfdbi51.jpg?width=1280&format=pjpg&auto=webp&s=91d826b4c1dd06acf84fd62688e7d315f19cf991 A week ago one of the most anticipated events of August took place on the official FORSAGE YouTube channel: FORSAGE – BIG SPECIAL EVENT. The leading Forsage.io speakers have shared their knowledge with the viewers, and shed some light on the future development plans of the project. Today we would like to publish the transcripts, and remind you that you can always watch the event on the official channel:https://www.youtube.com/c/FORSAGEOfficial Johnathan McClain https://preview.redd.it/73y1e2zddbi51.jpg?width=1280&format=pjpg&auto=webp&s=06256c8180335ef91599ed29247590d3faa1dfb3 Motion. Without motion there is no development. Every stage of humanity's development has always hinged on two factors: the first being new tools, and the second – the skill of putting them to use. This was the case with the wheel, electricity, and even fast food. Today we find ourselves in the digital era, and we are now only beginning to understand the scope of opportunity these technologies offer. Today you will see something you have never seen before. We will tell you about the Forsage platform. Why does it have over 800,000 registered users in just four months? How is it that the platform capitalization exceeds 200,000,000 dollars? Above all else, Forsage is an opportunity, it’s a tool available to everyone. It is this tool we are going to talk about today, during our first special event. You will see with your own eyes how to apply these tools, and the new opportunities they bring. My name is Jonathan McClain, I am a member of the Forsage community, and I am glad you joined me to take a look beyond this door. The year is 2020, this year we got to see unprecedented events unfold, we got to feel what it means to be caught in a truly global event. Globalization unhinged. The world is changing, and so are we. We have to adapt, grow and learn how to be in the world. How to treat each other and the environment around us. We have reevaluated the importance of human warmth and support. We now have a clear understanding that the world will not return to what it used to be — and it’s fine. What we have to do is learn from our mistakes, and make the right conclusions. We now see that results are what we achieve together. It is only possible if each and every one of us puts in the effort. All this is achievable only when every community member believes, follows and respects the rules and principles that underpin the community. The first thing we will talk to you about is the code of Forsage. At the core of the code are principles from the declaration of human rights, principles of non-violence, liberty, equality and unity, where fairness and transparency are the cornerstone that supports this strong and healthy community. The future where every one of us is happy and free. I believe that we are all people of merit who will by example lead the way into a better world. The Forsage code is available for everyone to download starting now. The success of every idea relies on the community, which also becomes the main measure of success: its spirit, unity and actions. It is only recently that we began actively communicating with each other, began both listening and engaging in a dialogue, and what has come out of it you will see on the screen right now. Now, I have a question for you. Would you like to earn a living freely? Would you like to receive the fruit of your labour the moment you earn it, without waiting for the reward for weeks, months, years? Would you like to have an opportunity to help others around you while you’re helping yourself? Sounds like a dream? But it’s real. Inside the brand book you will find absolutely everything you may need: templates, ready-made solutions, fonts, and a host of other things to boot. The best thing about it is that the Brand Book and all the other brand style elements will be available for download on the official website at FORSAGE.io in your dashboard totally free of charge. Thanks to our financial technology experts, we have managed to create our own crypto – fiat bank. Another thing I would like to present to you is a crypto-fiat bank card by FORSAGE. Now you can spend the money you have earned right away. No need to transfer, exchange, or do anything with some third-party websites or organizations. Everything is here. Simply transfer any of the four cryptocoins to your card: it can be Bitcoin, it can be Ethereum, or USDT, or Tron. You can always top up via SEPA and SWIFT transfers. This way you become independent from banks, and those who are watching your transactions. Use your money right away.
Bitcoin prices recently climbed over 5% in less than 24 hours, breaking through $11,500 earlier today on CoinDesk. While this particular price point was described by one trader as “the most important level” for bitcoin, the simple fact that the digital currency rose above $11,500 cannot be interpreted as “the start of a bull run,” said Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Jesse Proudman, CEO of crypto hedge fund Strix Leviathan, offered a similar point of view. “Bitcoin's bounce off its March lows, bolstered by the eye-popping performance of other large-cap cryptos certainly has the initial indications of the beginnings of a broader bull market,” he stated.
Bitcoin prices recently climbed over 5% in less than 24 hours, breaking through $11,500 earlier today on CoinDesk. While this particular price point was described by one trader as “the most important level” for bitcoin, the simple fact that the digital currency rose above $11,500 cannot be interpreted as “the start of a bull run,” said Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Jesse Proudman, CEO of crypto hedge fund Strix Leviathan, offered a similar point of view. “Bitcoin's bounce off its March lows, bolstered by the eye-popping performance of other large-cap cryptos certainly has the initial indications of the beginnings of a broader bull market,” he stated.
I'm making this post to elaborate on my long-term vision for a proposed enclave for /Enclaves/: An organized network of defensible self-sufficient Agrihoods. If I have any input on how they're built, I think they should be built as polygonal forts using buried or camouflaged Hesco bastions, Bremer Walls. The fortifications can be disguised as architectural elements, while moveable, fortified observation towers can be stored for emergency use. Preferred form of government: Legal and transparent, Quaker-based Consensus decision making plus an armed "neighborhood watch" with American Military Structure/Ranking system basic infantry training. Each household must have at least one AR-15 or M-16 standardized (and legal) rifle with any legal barrel length. My preference as an American veteran is for the AR-15 to be the standard rifle, with 7.62×51mm NATO ammunition. The idea is to be able to share ammunition, training, knowledge, and tools. Your preferred form of economic system: Each resident of the Agrihood would buy membership and be a part-owner in the neighborhoods farming cooperative. Each member would be expected to pay an initial membership fee and then also to work a certain number of hours per month. People unable to work would be accomodated, and members of the cooperative can also invest more money in the cooperative in the form of crowd funded loans for capital equipment and other large purchases. As far as transactions between members, Barter, Gold/Silver and Copper , Bitcoin/Cryptocoins & any convenient fiat currency would be encouraged. Transactions are conducted between individuals, so both parties have to mutually agree on the form of payment beforehand. I also want to specify that there not be any "Home Owner Association" because they can be hijacked and used to exclude people. Your preferred level of technological development: I'd like to promote a basic Amish/1890's level of technology supplemented with solawind and modern technology on top of it. The goal is that each home should be fully functional in case of an EMP, systemic disruption, or disaster. The resources you bring to the table: Military training (Medic), herbalism. The resources you hope for from others: Emphasis on military training, medical training, construction/engineering and traditional farming or gardening skills. An outline of your personality as you see it: Pragmatist. An outline of your personality as (you've been told that) others see it. "Intense, geeky dick." and "Fucking irritating devils' advocate" are my favorites. Your perspective on what may be contentious topics, e.g. gun ownership, meat-eating, etc. Defensive training requirements, membership standards. Whether you have served in any branch of the armed forces of any nation. US Army National Guard, 7 years. I also grew up as an "Army Brat". Whether you have a background working in law enforcement: Nope.
Clearly delineate the difference between your preferences and your hard limits:
Tolerant of the religious views, lifestyle choices and sexual preferences of others but I draw the line at all of these things when others try to push their views on me or assume that I support what they're doing. There's a difference between tolerance and support. I don't care what you do or how you live your life, I will support you if you're attacked for it, but - and I feel strongly about this -just keep it to yourself and leave me the fuck alone to do what I want.
7/2020: I'm saving money, learning to garden, getting back in shape, maximizing my credit rating, changing careers so I can work remotely, and shopping for land on the east coast. If I get lucky and find an affordable and small property suitable for homesteading in 2020 then I'm pulling the trigger, but a more realistic plan is to relocate at the end of 2021. If it looks obvious to me that the pandemic isn't going to lead to economic collapse then I might be able to hold out and purchase about 60-100 acres in Vermont by the end of 2022.
While Bitc0in contributing can be scary for those simply considering making the plunge, there are a few hints that newcomers can use to boost their odds of accomplishment. By following the main five hints recorded underneath, financial specialists can help their odds of meeting their objectives. 1) Do Your Homework Above all else, speculators simply beginning with Bitcoin need to get their work done. "The more you comprehend the happier will be," expressed Pawel Kuskowski, CEO and prime supporter of Coinfirm, a blockchain and administrative innovation firm. He accentuated that "bitcoin offers a remarkable and uncommon chance, yet should be dealt with as needs be." Therefore, more than one master urged newcomers to plunge into Bitcoin's basic innovation. "In the event that you have any specialized bowed at all, take 10 minutes to leaf through the first 2008 Satoshi white paper," expressed crypto support director Jacob Eliosoff. "It's just 8 pages, clear and a moving work of virtuoso!" [Ed note: Investing in cryptocoins or tokens is exceptionally theoretical and the market is generally unregulated. Anybody considering it ought to be set up to lose their whole investment.] Lucas Geiger, originator and CEO of Wireline, offered comparable direction, expressing that financial specialists ought to make certain to have a solid handle of the blockchain, the dispersed record framework that underlies every single computerized money. "This may appear glaringly evident, yet I think the main thing is set aside effort to comprehend the blockchain," said Geiger. "I state this unequivocally, on the grounds that couple of individuals will do this." "On the off chance that you don't have an elevated level comprehension of how a blockchain stores secure information, (for example, coins), at that point you are putting resources into what could be compared to tulip bulbs," he included. Since finding out about Bitcoin can require some serious energy, more up to date financial specialists may profit essentially from working with a tutor, underscored Adam Nestler, CEO of Kudos, a decentralized convention for building a reasonable help economy. "Locate a confided face to face or asset that you can draw in with to pose inquiries so as to comprehend the subtleties of your interest in a protected situation," he said. https://preview.redd.it/5fcewlfwz0g41.jpg?width=679&format=pjpg&auto=webp&s=29a3cad3540ad1b8baa6e551e357111633914e82 2) Proceed With Caution Hazard is natural to speculation, and speculators should remember that advanced money is in a beginning period of improvement when contrasted with comparable resource markets like the stock or security markets. "This is as yet a very high-hazard space," accentuated Eliosoff. "Try not to contribute cash you can't bear to lose!" While these contemplations can be very useful, a few specialists gave increasingly explicit direction. "Start little, and contribute a little bit of your capital," recommended Marshall Swatt, a sequential business person. Tim Enneking, overseeing executive of Crypto Asset Management, offered tips for entering positions. "Try not to pursue Bitcoin costs. Settle on a passage point and stick with it," he said. "With Bitcoin, you're quite often directly as far as predictable value activity – it's your planning that may be off. Along these lines, be patient, and let the Bitcoin value come to you." Once Bitcoin has arrived at the correct value, Enneking proposed that speculators forgo purchasing their Bitcoin at the same time. Rather, they should "organize in and arrange out," which means they ought to contribute a little at once, hang tight for a piece, and afterward contribute some more.
Investors' trust in the US dollar is down as the trust in gold keeps growing
In the last couple of years, central banks in many countries have been actively buying gold. This increased demand served as a key factor in driving up the price for the precious metal. Recently, the price even exceeded $1,500 for a troy ounce. Even though it's still far from the historical high of $1770 (reached in 2011), the current price dynamics points towards a new cycle of growth. The 2008-2011 price rally started at the $750 mark and was a result of the global financial crisis. Fortunately, developed economies managed to halt the downturn quite quickly, and the price of gold underwent a correction. However, after a fall to $1,070 for a troy oz. at the end of 2015, a new uptrend began. It was hardly noticeable at first, but by spring-2019, with the escalating US-China trade war and increasing tensions in the Middle East, gold prices started to grow rapidly. https://preview.redd.it/nd521570t9b41.png?width=640&format=png&auto=webp&s=d64acfdd43963aaec55cb39da74abf345783cf40 It's worth noting that for the past few decades, the United States has held more gold in reserve than any other country in the world. In the last 15 years, the US gold reserves have stayed virtually unchanged, at 8,100 tons. By comparison, Germany — which holds the second place - has circa 3,400 tons of gold, or more than twice when compared to the US. Numerous international experts claim that the money and credit policy of the United States has a decisive impact on the price of gold. This theory does a great job at explaining the current situation: as the Federal Reserve takes steps to devalue the dollar, the gold prices keep growing. In particular, in June, Bank of America experts Michelle Meyer and Ben Randall, issued a warning saying that the US government is considering an intervention to weaken the dollar. In this context, more and more countries, central banks, and corporations realize that the value of the US dollar is based on the trust conferred to it by the global community. If this trust evaporates, a crash will become inevitable. The USD exchange rate may not fall so much relative to the euro or Japanese yen. However, the change relative to the price of gold will be dramatic. The exchange rates of all other fiat currencies to gold will decrease proportionately. Gold is a safe investment asset, since US authorities cannot subject it to any sanctions. Besides, it has value in its own right, which is a statement that does not apply to US dollars or the euro. Thus, it's not surprising that the demand for physical gold continues to grow. According to the latest report issued by the World Gold Council, the demand for the yellow metal reached a 3-year high in the first half of 2019. In Q2 2019 alone, global demand grew to 1,123 tons, which is 8% higher than in the second quarter of 2018. The demand was spurred mostly by the ongoing purchases of central banks and by the steady growth of the gold-backed ETF market. The overall demand for gold in the first 6 months of 2019 grew to 2,181.7 tons. During the same period, central banks across the globe bought a total of 374.1 tons – the largest six-month net increase in global gold reserves for the whole 19-year history of quarterly records. The report states that the most active buyers were central banks in developing countries. The growth of state gold reserves around the world hints at intensifying disagreements among countries. This can be a sign that countries want to abandon the traditional reserve currencies of the old global economic leaders. As a result, the growing demand for gold is threatening the positions of the US, UK, and the European Union. However, there is a key difference between the 2008 crisis (which led to a sharp increase in the gold prices) and the current situation. The market now has a new alternative to fiat money: cryptocurrencies. In the next ten years, global market players will have three basic instruments at their disposal: fiat money (mostly the US dollar as the main reserve currency), gold, and crypto (first and foremost Bitcoin). Out of the three, fiat money is considered ever less reliable. There is already a tremendous amount of paper money that is not backed by anything – and more is being printed every day. The alternatives are the tried-and-true gold, on the one hand, or the new cryptocurrency ecosystem, on the other. While gold is the money of the past, fiat currencies (USD) are the money of the present, and crypto is the future of money. A good example of a breakthrough solution for the problem of money is the new GOLD stablecoin. It combines the features of traditional currencies, while also leveraging the power of cryptocurrency, thus bypassing the unreliable fiat systems entirely. In order to understand why it's such a disruptive solution, we should compare it to the most popular fiat-backed stablecoin on the market – USDT. Tether receives fiat dollars, stores them in a bank as a reserve fund, and issues tokens whose number should theoretically equal the amount of US dollars present in the reserve. As shown by the recent incident with Bitfinex, this is not exactly true – but that issue goes beyond the scope of this article. Here, we must only mention that the market cap of Tether exceeds $4 billion – even though Tether investors don't receive any reward for holding their tokens. The situation is almost absurd: with the current sanctions and repeated personal data leaks, many individuals and companies find that it's safer to store their funds in a stable cryptocoin than in US dollars – the most secure fiat currency. Unlike Tether and other fiat-pegged stablecoins, GOLD is pegged to the price of gold at the rate of 1 GOLD = 1 gram of 99.99% gold. Just like Tether stores US dollars in its reserve accounts, Digital Gold (the issuer of GOLD) keeps its physical gold reserves in a specialized vault. The vault belongs to BullionStar – a global leader in the precious metals market. The gold is audited round the clock by BullionStar itself, providing a much stronger guarantee of security than any bank account statement. As investors keep buying more GOLD stablecoins, the company will keep purchasing new batches of physical gold, depositing it in the vault, and issuing new tokens. The total amount of gold held by individuals, central banks, stores, and private vaults across the globe is valued at $8 trillion. Some experts believe that Bitcoin is the only crypto that can reach the same market capitalization and become a digital alternative to gold. However, Bitcoin, like all other cryptocurrencies, is highly volatile. Besides, transaction fees in the Bitcoin network are high, so it can't be used for micropayments. And as the BTC price keeps growing, increasing fees can become a problem for larger transfers, too. In this context, GOLD tokens feature three serious advantages. First of all, they are not volatile. Of course, the token's price does change as the underlying price of gold changes. But for those investors who are used to buying physical gold or ETFs, these fluctuations won't constitute a problem. Secondly, the fact that GOLD is an ERC-20 token means that it can be successfully used for any payments, including microtransactions. In the absence of excess volatility, the average fee will range from $0.01 to $0.02. Lastly, since physical gold will always grow relative to all fiat currencies, GOLD will keep growing relative to all fiat stablecoins. Of course, this is only valid over long periods of time, since in the short term, gold prices can both rise and fall. The key point is that gold has been growing in value over the course of millennia. Thus, long-term investors will find GOLD far more attractive than any fiat-based stablecoins. What's more, they might soon lose their interest in fiat-pegged crypto altogether. Website : https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf Follow us on social media: Twitter: https://twitter.com/gold_erc20 Telegram: https://t.me/digitalgoldcoin Steemit: https://steemit.com/@digitalgoldcoin Reddit: https://www.reddit.com/golderc20/ Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
Bcash is damaging both itself and bitcoin through violent difficulty and hash rate oscillations
Bitcoin is currently under attack (intentionally or not) from the bcash difficulty algorithm that deviates in a stupid way from Satoshi Nakamoto's original one. This leads to extreme difficulty oscillations on the bcash chain, which affect bitcoin as well. This is possible because bcash kept the original proof-of-work algorithm, so miners can freely choose whether to mine bitcoin or bcash. During the phases when the bcash difficulty is very low, lots of miners jump on the bcash chain and mine an insane number of blocks, many times more than the intended 6 per hour. Bitcoin loses that hash power and becomes slow, so the fees rise. After a few days the bcash difficulty adjusts upward, so miners jump back to bitcoin and begin to reduce the backlog. However, bcash's difficulty algorithm is senselessly asymmetric, so it adjusts down much more rapidly than up. As a consequence, its difficulty falls like a stone after 12 hours, and many miners jump back, deserting bitcoin. If this continues, bitcoin's average block rate will be reduced until its next difficulty adjustment, causing higher fees. More thoughts It seems now that the oscillations that had already been predicted two days ago are getting worse. A lot depends on whether bcash users realise that bcash, particularly its difficulty adjustment algorithm, is the cause of the oscillations and recognize that bcash was designed without full understanding of the consequences. Some people said that this is intentional, in which case it would be a malevolent attack on bitcoin, but so far I have no indication that this is the case and don't believe it, particularly because the situation is bad for both coins, which are now limping along on a knife's edge. So what will happen? The situation is so bad for everybody that it looks as if at least one chain will have to lose market capitalization relatively soon. Nobody will put up with this in the long run. Interesting questions are how the price of bcash relative to bitcoin influences the outcome, whether rapid SegWit adoption will help bitcoin, and whether bitcoin users will stay the line for long enough. It would be very sad if a hard fork like bcash severely damaged the entire cryptocoin realm. But the miners have never been quick to recognize when they were working towards their own demise. Moreover, they always suffer from the Tragedy of the Commons, where coordinated action could save us, but each single miner profits more in the short term from accelerating the catastrophe.
Bitcoin and Cryptocurrencies are in reality a hyperinflationary multilevel-marketing pyramid cult of anarcho-capitalism and contradictory hypocrisy, prove me wrong/change my mind effort post itt
Reminder, Satoshi's Bitcoin and every other cryptocoin is designed to enrich a tiny minority of oligarchs who produce the supply for measurably less work/capital input than late adopters. These members form the inner circle of the cult who are than heavily incentivized to disseminate propaganda and psychological marketing tactics to the public "investors" who further spread the marketing-cult "white paper" claims like a virus in the hope that they will be able to leverage their low-effort low-capital database tokens though the smoke and mirrors and low liquidity exchanges and tape painting in order to pass their bags for real capital as all the later users buy into the dream that they too will become one of the oligarchs.
For future alpaca farmers, Sexton and Saitone laid out some of the major hallmarks of a speculative bubble, including: (1) The asset not the product is the thing being marketed (i.e. live alpacas, not fiber),
Bitcoin cult members sell users the dream of egalitarian wealth, when in reality the math and code behind Bitcoin simply created a system where existing capital is proportionally transfered into Bitcoin during the temporary hyperinflationary phase at an accelerated rate based on how early one begins to to set up server farms. Early users spent measurably less capital to generate significantly more of the supply. The Bitcoin protocol and mining algorithm is not some fancy complex math (Bitcoin mining math amounts to a lottery system, more capital gives more lottery ticket printers). Mining boils down to wasting more work and energy for less output as time passes.
(2) investors have unrealistic expectations (alpaca fiber would replace wool, despite the lack of infrastructure; and besides the fact that people don’t really wear that much wool),
(3) information is controlled through industry sources (most of the information the researchers were able to dig up was put out by breeding associations),
Even in the more reputable publications, journalists boil down the computer science into the marketing claims of what Blockchain and smart contracts cultist CLAIM it can do. These are solutions in search of problems. Blockchains are inefficenct databases, and lying about data input or stealing the deed to your house never seems to be a problem. Smart contracts need a data source to trigger, and how can data be trusted in an adveserial decenteralized network? A set of trusted "Oricales" who 'stake' their beanie babies? What's the use case for a smart contract? What happens if someone puts up a smart contract to assisinate the head of all the three letter agencies, the Queen, and the UN, and the international monitary fund?
(4) small scale investors predominate (Foster Farms did not open an alpaca plant).
The cult of bagholders think they are the kings. The underlying bitcoin/cryptocoin systems are simply a shitty anarcho-capitalist scam cult. The idealist vision behind ecash is great and all but it's a huge mistake to dismiss the side effect of further enabling a system designed for anarcho-capitalist black markets. This could easily spiral out into a long winded debate and flame war, but ill just point out that the game theory behind bitcoin favors early adopters (just some dudes who ran some software before other people.. software that can be duplicated ad infinitum ) at the expense of extracting real wealth from users who join at any later time. Bitcoiners claim Satoshi style ecash systems are a response to the 2008 financial collapse, fiat inflation, central banks etc, and yet the replacement system Satoshi designed just exacerbates the existing capital system into a measurably worse oligarchical techno-cult which embraces the enablement of lawlessness. If the claim of "trustless" and "decenteralized" is a main selling point, it's an illusion at best and manipulative propaganda at worst as there are centeral points of control within the cryptocoin ecosystems- i.e. /bitcoin censorship, anonymous developers, mining pool operators, really fucked up exchanges operating behind 7 shell companies in seychelles, the whole shitshow behind tether pulling what amounts to be fraud and theft of large sums of assorted cryptocurrencies simply because exchanges are central power hodlers and can exploit normie small fish traders (exchanges are poised to even exploit the whales) via front running and cooking the books though manipulative insider trading. There's no accountablity in the cryptocoin space - so while tradiational systems are flawed, we at least know who to blame and how to find them and hold them legally responsible. With anarcho-capital systems, we lose that option. Additionally, the production of the money supply in these specific implementations of cryptocoins are measurably worse than traditional money minting and distribution systems.
One important point: if we actually include all 7 billion people on the earth, most of whom have zero BTC or Ethereum, the Gini coefficient is essentially 0.99+. And if we just include all balances, we include many dust balances which would again put the Gini coefficient at 0.99+. Thus, we need some kind of threshold here. The imperfect threshold we picked was the Gini coefficient among accounts with ≥185 BTC per address, and ≥2477 ETH per address. So this is the distribution of ownership among the Bitcoin and Ethereum rich with $500k as of July 2017. In what kind of situation would a thresholded metric like this be interesting? Perhaps in a scenario similar to the ongoing IRS Coinbase issue, where the IRS is seeking information on all holders with balances >$20,000. Conceptualized in terms of an attack, a high Gini coefficient would mean that a government would only need to round up a few large holders in order to acquire a large percentage of outstanding cryptocurrency — and with it the ability to tank the price. With that said, two points. First, while one would not want a Gini coefficient of exactly 1.0 for BTC or ETH (as then only one person would have all of the digital currency, and no one would have an incentive to help boost the network), in practice it appears that a very high level of wealth centralization is still compatible with the operation of a decentralized protocol. Second, as we show below, we think the Nakamoto coefficient is a better metric than the Gini coefficient for measuring holder concentration in particular as it obviates the issue of arbitrarily choosing a threshold. ...However, the maximum Gini coefficient has one obvious issue: while a high value tracks with our intuitive notion of a “more centralized” system, the fact that each Gini coefficient is restricted to a 0–1 scale means that it does not directly measure the number of individuals or entities required to compromise a system. Specifically, for a given blockchain suppose you have a subsystem of exchanges with 1000 actors with a Gini coefficient of 0.8, and another subsystem of 10 miners with a Gini coefficient of 0.7. It may turn out that compromising only 3 miners rather than 57 exchanges may be sufficient to compromise this system, which would mean the maximum Gini coefficient would have pointed to exchanges rather than miners as the decentralization bottleneck. Conversely, if one considers “number of distinct countries with substantial mining capacity” an essential subsystem, then the minimum Nakamoto coefficient for Bitcoin would again be 1, as the compromise of China (in the sense of a Chinese government crackdown on mining) would result in >51% of mining being compromised.
Help me ! :,-( 5 BTC were stolen on “The Rock Trading”, Italian trading platform.
The last few days on the Italian trading platform "The Rock Trading" (www.therocktrading.com) about 5 bitcoins were stolen. If anyone can help me, I would be really grateful and I am willing to reward those who can solve the problem. Here's what happened: (sorry for my english) I made the last transition on the site on 12 March 2019. For a few days I no longer connected. When I connected on Tuesday 19 March 2019, at about 8:00 pm I could not access the service because I was told that the passwords were incorrect. I did a password reset and found a new password to enter (2-factor authentication that I had never activated - I know it's wrong) that someone in my place had put. I wrote a ticket to them asking if there were any problems, but the next morning I was told via mail that the system was being moved to new servers and therefore some users would have problems accessing until the morning of Thursday 21 March at 8:00 am, so not to send other tickets to their assistance service. Thursday morning, still having access denied, I immediately open another ticket and through the dedicated chat I find out that no server movement was scheduled and I am asked for the email of this communication. I go back to my inbox and find out that the previous ticket and the communication were gone (deleted) At this point I discover : - Someone has probably entered my personal email (being able to delete the received emails) - It appears that a series of trading transactions have been made to divide the capital into several different cryptocoins. - A series of 1 BTC withdrawals have been made per day from 16 March 2019, therefore for the days 16 17 18 19 and 20 March - Someone has deactivated the warnings of a successful transition and a withdrawal that were active so as not to let me see what was happening at that time - Someone closed my first ticket, signaling that the access problem had already been solved. (!!!) - It appears that funds are in the withdrawal portfolio and have not yet been used. I've lost everything. Help me please. :( The worst thing is that I had correctly activated the PIN for withdrawals six month ago that was stored locally only on my PC, not in cloud (a pin that doesn't seem to be able to be changed and that nobody knows about it) Do you think I can do a lawsuit to the trading platform for the following reasons ? - for the change of the access password, only mail is required without other security information - It seems to me impossible that the PIN for the withdrawals was stolen from my computer, could the service provider have a security problem? - You can easily disable alerts for withdrawals and the communication takes place only via e-mail (which could be stolen, as in this case) - There is no control on access IPs for withdrawals, which is quite serious in my opinion. - 2F Auth it is not mandatory to use the trading system Now I have IP that access to my account and the flow of bitcoins stolen with their respective Wallets. (data provided by the trading platform) If anyone can help me, I would be really grateful and I am willing to reward those who can solve the problem. Thanks to everyone.
Bitmain and its IPO valued at respectively 50 and 18 billion $, compared to a bitcoin current market cap of 105 billion $
Does it make sense that the main mining hardware company is valued at about half of the total market capitalization of bitcoin? or about a quarter of the market capitalization of all cryptocoins? Does it imply that Bitmain, through the mining reward process, has actually captured about 50% of the value of bitcoins in circulation ? or holds up to 50% of all bitcoins? Or does it mean that future investors see a large upside potential in bitcoin value, necessary to support Bitmain's business value ? Or is it just a wild overestimation of Bitmain based on their latest profit figures, but not indicative of future performance ? Thanks for sharing your thoughts on this.
There are prospects: forecasts of digital currency market participants
Last week was full of various events for both participants of the cryptocurrency industry as well observers. Here are some expert comments on the current development of the digital asset market. On Monday Yves Mersch, Member of the Executive Board of the European Central Bank (ECB) criticized Facebook’s Libra.”Libra could reduce the ECB’s control over the euro, impair the monetary policy transmission mechanism by affecting the liquidity position of euro area banks, and undermine the single currency’s international role” . The official has also noted that Facebook’s cryptocoin will in fact be accountable to shareholders, raising trust issues, as it will not be backed by a central bank. Mersch called on regulators to take tight control over Facebook’s projects, and for users not to trust the tempting but questionable promises from the representatives of the American company. Meanwhile, Jack Dorsey, the head of Square payment start-up and Twitter co-founder, continues to insist that cryprtocurrencies will continue to spread. The businessman believes in bitcoin, but he thinks that it is still too early to call it currency. In one of his latest interviews Dorsey notes, that bitcoin’s rises and falls in prices are more characteristic of a investment asset, such as gold. He hopes that as soon as the cryptocurrency becomes the currency of the Internet, his own start-up will pay more attention to services that create added value, rather than those that are engaged in money transfer Mark Mobius, an investor in developing markets and Mobius Capital Partners founder said that gold-backed cryptocurrency can be an interesting phenomenon. The investor emphasized that there is a whole generation of people who have faith in the internet, and they have faith in cryptocurrencies. “People believe in dollar because they have faith that with dollars in their hands they can buy something. Crypto enables people to buy something merely because they believe it has value”, Mobius said. In the beginning of the week trader Peter Brandt tweeted that bitcoin has entered the fourth cycle of the parabolic uptrend that could lead it significantly past its all-time high price. The analyst is confident that the price of Bitcoin will reach one hundred thousand dollars in the long run. And although this bold prognosis does not yet have lots of supporters, one can’t ignore the fact that the price of the main cryptocoin is showing steady growth since Monday. According to Coinmarketcap, by September,6, bitcoin rose in price up to $10 875, starting from the mark of $9 623 on the night of September,2. https://preview.redd.it/844ut4d9ojl31.jpg?width=1280&format=pjpg&auto=webp&s=f1ea160a50e8f28b5e4ff7e95f61697ed88355f5
Google is developing cryptocoin tools. Ok so the problem with that is manifold
) We know google is CIA; CIA is very untrustworthy--they've spied on us illegally since 9/11 created a security state junta; they got their start with inqtel a cia company; assange says its cia; everything they do from censoring technopopulists to promoting a fugitive from the law hillary clinton (by our FBI's own admission in congress!) over a lawfully elected president, while undermining the same....all suggest Google is still CIA.
) CIA was effectively a merger of former US intelligence and expropriated Nazi intelligence and researchers (Operation Paperclip), guided by a Nazi sympathizer whose post-WW2 work was serving as a lawyer and strategist to assist Nazi officers escape punishment and hide their wealth through various financial proxies (Allen Dulles). This is our true history. Dulles also was fired by JFK and then was charged with producing the Warren Report about JFK's assassination. MKULTRA is where we drugraped teens to blackmail politicians (brownstone ops), drugraped prostitutes and soldiers (edgewood), and performed unethical human experimentation that continues to this day. That was CIA, Navy, Darpa
) I'll say it again, a Nazi sympathizer who hid nazi gold in switzerland and ran ratlines to argentina for nazi officers, who wanted to use a false flag operation to destroy Cuba but was denied, was in charge of JFK's investigation. Kind of like having a Deepstate operative like Robert Mueller type in charge of the official 9/11 report isn't it?
) CIA is Wall Street's private army.
) NSA scans your emails, your text messages, all your information---"capture it all". They have been caught several times front-running on your private data. Any screenplay you wrote, any invention you put in a file on the google drive, and investments you're planning, any business projects you're in----they have already read and are already using in an anti-competitive way, front running on your good ideas.
) Through asset forfeitures, the US Government has a majority of Bitcoin; this is from mt gox hack recovery, silk road, silk road 2, alphabay and other darknet seizures abroad of bitcoin
) The US Government has spent 6 months colluding with the media to undermine Trump with a fake story that everyone now knows is fake (except a vanishingly few marginal, sophomoric violents, antifa types in california).
) The FBI has spent now over a year maintaining a falsified document leveraged to create a disinfo to create a psychological war against US citizens, in lieu of doing their ACTUAL job of busting a now-widely known SPY RING IN CONGRESS
) The US Government (Permanent State) has been bitching, moaning, whining about every little thing Trump has done; failing to recognize his accomplishments which are objectively pro-citizen; while letting very high level criminal avoid punishment---creating a dual justice system
) Cryptocoin has skyrocketted based well beyond confidence if you look historically at DOW industrial trends...this is a bubble, an obvious bubble. Who is blowing this bubble? Well look who has the majority share
) You don't know who runs the exchanges, but the modus operandi of those who run the exchanges are that of both criminals and intelligence agencies. I suggest it's both of them working together to run the exchanges
) After all, you can't mine bitcoin now, if you do you'll lose money because electricity to mine costs more than what you'll get from mining unless you already own vast mining infrastructure--this is the marginal cost of mining. The marginal cost of mining far exceeds purchase price of bitcoin so you might as well buy it
) Who has spare bitcoin to sell, if mining is so unprofitable AND bitcoin keeps going up? Who would sell bitcoin if it's that compelling? LOL THINK! G D it. THINK!!!! Use your brain. Someone is dumping bitcoin on you, and you're eating it up, thinking you're a genius for investing in it so early.... it's a trap...it's a honeypot. Owning a bitcoin is not a illuminati scout member badge into an exclusive club you dolts
Given that the US Security-Industrial complex, the 17 agencies, primarily CIA, NSA, FBI, NGA, DoD have been using that unaccounted-for 20T dollars now to spy on--not only us, the lumpen citizens of US, but also our Congress members--through the Pakistani liaison loophole of the Awan Brothers, it's very clear that they have NOT honored the underlying principles and values of our constitution and our culture generally. They are concerned with making money by any and all possible means---even through absolute evil--and they are concerned with controlling society very rigidly through technology, psychology, exploitation of human fears, wants and aspirations. One way to control people is through money. When society gets out of control, especially when they start to doubt, or to hate, the control imposed upon them, the government goes absolutely insane Because we've already proven in an earlier post that the US Government is the batshit paranoid conspiracy theorist that has ever existed, and it uses any and all desperate measures to control people's minds. That is it's true purpose and operating principle above all else. Money is just a means to that end. The mental health industry is a means to that end. The music and film industries are a means to that end. Academia is a means to that end. Modern art is a means to that end. I could go on and on how the CIA has inserted itself into all aspects of culture to create an enormous establishmentarian cult, but that's not the point of this post--though mentioning this is germane to this post to the extent that it's necessary to understand in the context of the CRYPTOCOIN TRAPDOOR>>> So what is this cryptocoin trapdoor? Hmm. Let me try to explain this in terms of a ruse that happened to me last year. I was invited to join a sub /sphinxclub which was ostensibly an 'antimason' sub. I had been down on freemasons / jesuits (still am) at least high level ones. I see them as the common denominator in many of these strategies-of-tension around the world, and the evidence for that is overwhelming. So I joined sphinxclub and after little activity we asked the sub's creator "so what is this sub about, what are we doing here, who wants to start the dialogue". The answer was something like "we're waiting for 20 mods to be invited so we can open the trapdoor and send everyone into hell". I thought it was a joke, and then there was an 'assignment' which I believed (in my opinion) was asking people to commit an act of left-wing terrorism against a defense contractor in florida who was believed to be using electromagnetic waves as harassment and mind control to create 'mass murder shooters' like the Navy Yard shooting. Of course I'm interested in figuring out if there's truth to this, but the means was illegal, so I left. This strategy is both a honeypot and a trapdoor. Honeypot to bring you in and waste your time (timeloop you, waste your effort otherwise spent on writing subversive essays that undermine the establihment). Trapdoor to get you put in jail. I believe crypto is the same type of honeypot-trapdoor Honeypot because
) Honeypot because it's going up very quickly and now bitcoin is worth more than gold
) John McAffee a renowned technologist and drug-addled madman with spooky origins says he'll eat his penis if bitcoin isn't worth more than what a million by 2020? Something like that. He allegedly has his own mining facility in latin america, iirc.
) Honeypot because Google is now going to support it
) Honeypot because US Gov is looking the other way and China supported it
) China banning it
) Finanical experts warning it's a fraud
) Me warning it's a fraud because the NSA has over 2000 Qbit quantum computers now and likely runs the exchanges
) Ebay is using it -- George Webb's research tied Omidyar directly to Deepstate
) CIA is Wall Street's private army and cannot have a situation they dont' control.
) Max Keiser and Stacey Hubert have said, numerous times, with many financial guests that NSA/CIA are manipulating markets while using the media to have you believe it's anarchic...it's an illusion
) JP Morgan is trying to manipulate crypto in europe now
) If you exchange your dollars for bitcoin, and then bitcoin plummets, then the elite have just taken your last bit of wealth away
) At this point the only people who can make money off bitcoin ARE the elite, so buying crypto is a cannabalization of dollar-owners by the political elite on the industrial/retail elite -- intelligence-aligned (dynastic) rich are eating the nouveau rich; and they are eating left-coast crypto liberals also
) EDIT: Oops forgot about civil asset forfeiture of unpaid capital gains taxes on crypto being like a stock
What is your agenda with this anti-bitcoin stuff? I have none. These are just my thoughts I'm sharing with you and why I no longer support bitcoin until such time there are laws that guarantee that these things I worry about are inhibited. In other words, we need a non-corrupt intelligence community and guarantee they aren't manipulating it before I can trust using any kind of crypto currency. I'm telling you because I want you to make sound choices with your money and be happy and have a good safe life. The best thing you can do right now is watch this video
07-11 19:53 - 'Why bitcoin will fail. Why bitcoin will succeed.' (self.Bitcoin) by /u/kwanijml removed from /r/Bitcoin within 690-700min
''' So we've all been blasted incessantly with the now age-old tirade (and variants) about how "bitcoin is pure speculation", "will be curbed or shutdown by government as soon as they feel so inclined", and my favorite; "anyone can create a new cryptocurrency, so that means they won't be worth anything". I was recently responding to one such bad argument in /economics and thought I'd just post it here as well, to maybe help a few people better understand the macro forces at play, and maybe pair these ideas with hardespecific evidence as it pertains in your future discussions with skeptics and detractors: Money (or a proto-money like bitcoin) is a network good: i.e. its value, in aggregate and each share of a homogeneous unit, is derived from positive network externalities. Not some utility of the token itself. Or to state it another way: the size of the network of available trading partners with which you can alleviate the inefficiencies of barter and communal credit systems, and thus take maximum advantage of the division of labor. This idea that speculation for speculation-sake (i.e. a game of musical chairs or last-one-holding-the-bag) is the only or primary factor in play, which causes the trading and use of bitcoin to persist, is simply juvenile and would almost necessarily require that at the very first bust (after the boom) that the coin goes to a price of zero, or at least down to some negligible price which reflects its value in a non-network-good-sense; such as numismatic or curiosity value, or as a smart-contract token for cryptokiddies games or something like that. And this view simply doesn't hold up to the theoretical scrutiny or empirical reality. Bitcoin has continued to spike and "crash" (almost a half-dozen times now with at least the relative magnitude of the most recent bubble and bust)...and yet so far, consistently finds support after each next crash, higher than the previous all-time high price. Nobody continually speculates on speculation...there are plenty of "greater fools" each run up, no doubt, but there are also many many of the repeat, usual suspects; continuing to trade and to build the ecosystem. What's going on here is not just speculation on other people speculating...it is entrepreneurial foresight in speculating- speculation on the likelihood of and evidence for the growth in the network effect surrounding the token (i.e. how money-like is bitcoin becoming? How valuable could it be as a full unit-of-account money?). Because this is a decentralized, bottom-up process, (there is no boss, no owner, no ruler or government; you either trust/accept the rules of the protocol or you don't participate) some market failures or coordination problems stand in the way of this actualization of bitcoin as money coming to fruition smoothly or maybe at all (hence some validation of the "state theory of money" and the usefulness of the tax-demand-sink which fiat currencies enjoy). But present government policies and the incumbency of the national fiat monies, also present additional challenges, which are likely responsible for keeping bitcoin from gaining as much traction as it otherwise could (tons of persecution of otherwise legitimate crypto-on-ramps under the auspices of AML/KYC laws, the fact that most tax authorities in the developed world treat crypto as a capital good: thus nobody can possibly even legally use a cryptocoin as an every-day spending/earning money, because the tracking and reporting for it are just far too onerous, and many many more direct and indirect ways). To 1st-world perceptions, its understandable why a lot of people not only feel like they don't get what the utility of bitcoin is now, but also don't see it having a future (thus, pure speculation appears to them to be the obvious driver of the price patterns)...but once you remember and look at how a large percentage of the world does not enjoy stable money, fair or even tolerable governments, ways to escape high inflation and capital controls, accessible banking, and cheap payments (especially for international remittance)...then in comparison, even volatile bitcoin starts to look pretty good. And that fact alone, plus the fact that bitcoin ever even developed an exchange price and continues to exist 10 years later, is pretty freaking amazing...amazing accomplishment for some anonymous crypto-anarchist(s) and an initial cohort of cypherpunks and geeks; almost doesn't make sense...until you understand how ripe the world economy is for a non-state money. For competition. For real accountability (which even democracy often doesn't adequately provide). Additionally, it doesn't really take too much creativity or foresight, to see and understand that even our "good" governments and their currencies and banking controls, are getting more and more draconian, restrictive, and panopticon-like...so that as bitcoin grows in network effect and liquidity and price stability...it might one day even start to look pretty decent in comparison to the dollar, euro, and yen. It doesn't take a huge stretch of reason, to understand that a lot of people are a lot more (small 'l') libertarian than skeptics and detractors assume, and desperately care about making institutions as voluntary and competitive as possible; and that this is not something which is or will be achievable through government or political channels; that government accountability must be imposed by de facto competition...even competition in monies; and that, is the point of, and one of the major present and future sources of value of cryptocurrencies like bitcoin. Anyone can (and always could) create new currencies...this doesn't and never did create inflation or dilute value, or any such nonsense. Because what is not trivial to create is network effect. And network effect (not even taxes or the "full faith and credit" of your country) is what primarily informs price and drives the value and stability of even your national currency. The ability to achieve position as unit-of-account carries massive social and economic inertia with it...and that inertia then even ends up moving politics and forces liberalization. Yes, because bitcoin is a network good, the U.S. or other governments could crack down on its use (a lot more effectively so than say, narcotics, which are valued and valuable to the user independent of anyone else using or trading with that good) and virtually destroy its present market and market share. But keep some things in mind: 1. To do so, they would have to massively inconvenience or put a dragnet over other, much more widely-used goods (like the internet or parts of it) which would not sit well with the masses, who don't even care about bitcoin. Many/most busines could be tracked and prevented from using crypto via the tax/reporting apparatus...but the informal/cash/black/grey and online economy is already so huge, even just inside the u.s., that if bitcoin were to even become the currency of choice for a large share of just this, it would significantly increase bitcoin's usage from the present, and the price would rise and stability would increase; despite it being kept completely out of the formal economy. 2. The U.S is not the only country on earth! And bitcoin is especially good at silently passing through international boundaries. ''' Why bitcoin will fail. Why bitcoin will succeed. Go1dfish undelete link unreddit undelete link Author: kwanijml
Late buy-in of Cryto as nonbuyer's remorse, pricing itself out of a recessione, rumblings of approval despite quantum decryption threats, use in crimes, and predictive NLP "Trump's currency is dividing us" says one thing: Get you to the blockchain and open that trapdoor
The title really says it all. Some say I'm butthurt about the late buy-in on crypto. If only I had bought myself a bitcoin when I gave a bitcoin to James Corbett...I'd be RICH. Well yes. That's exactly what they want me to think. You missed the boat on the deepstates own currency--Sucka! And shame. Shame on you for not having a bunch of disposable income to throw into a highly speculative hobby. Too bad you aren't a dot com millionaire who basically recreated twitter and IPO'd at laughably nonsensical overvaluation of 200M that you couldn't throw most of those millions into bitcoin, because that would make you a billionaire at this point. You couldn've been playing giant robots with Bezos in his high tech romper room. Too bad! Plebe. Lumpen plebe. You suck. Right? The latest thing is the twighlight language trying to further divide us with more "love trumps hate" type of languge. The latest shitmeme is from DNC chair Perez: "Trump's CURRENCY is Dividing us". This is a twilight language because it's trying to use black transfer propaganda language abuse to tie "currency" to "Trump", which is trying to make you hate "currency". Ya dig? So that when they offer a new 'currency', you will hate "Trump's Currency' which is the dollar. Screw Trump and all his dollars! Dollars are for Trumpers. Dollars are so 2016. Crypo man. Gotta get me some of that Crypto and get with the progs Sorry, the source is Breitbart, which you should know is kind of limited hangout altright mainstream press.
Crypto skyrocketing under principles hitherto unseen. Is there really THAT much confidence in a thing based on nothing with no protections, that is difficult for most people to even think about deploying in any secure or technical way. I say this being not an expert but competent in crypto.
I ran linux, I set up a couple grand mining rig with 4 gpus. Noisy. Loud. Annoying. It NEVER PAID FOR ITSELF even though projections were made to pay itself and then make money. It never did. I did everything right. I was mining in a mining pool. Now, no one without several millions can mine. There is now a barrier to entry for anyone getting started in mining. I'm talking bitcoin. Maybe other coins you can mine still
Therefore the cost of electricity needed to mine a bitcoin along with the marginal cost of the equipment makes it so you can't mine on any small or even medium scale...what i mean is you are better off buying bitcoin from an exchange
Where is the exchange getting all that bitcoin from?
Those who have bitcoin don't want to get rid of it...it's skyrocketing why would they sell unless they are trading crypto!
People on zerohedge are saying flipping crypto doesn't work, everyone's lost money--maybe they are wrong... Keiser was pushing this
So keep in mind, when Silkroad and Silkroad 2 went down, who confiscated all that bitcoin? Ahem. It was the US GOvernment. I believe at one point they had over 50% of the market, so that means they effectively control bitcoin circulation...therefore...
So where are the exchanges getting their bitcoin from...that much bitcoin to trade every day?
Well from asset forfeitures...It's the government. I believe they are running the exchanges
It fits their pattern. The best way to control a subversive currency is to buy most of it up (sorry there's a Lenin quote in there somewhere)
Someone has made it VERY clear they don't like me saying these things. I mean if I'm wrong, then why...?
We also know because of leaks that they run the drug purity testing houses, and they ran alphabay and they run all the darknet drug sites. LOL
It's all an illusion folks
So here's what happens. They are prepping people to use bitcoin. So when they cay ICO, it doesn't mean as much 'Initial Cryptocoin Offer' as it means "Illuminati Cult Offer"... That temptation of the money from crypto skyrocketting is pressing everyone's avariciousness buttons and only the dumbest among us go for it Because here's what happens. Scenario 1
You move most of your USD to bitcoin, it goes up like a stock. Yay, I have more wealth.
Lots of people do this instead of storing wealth in precious minerals or investing in something real like your own business or yourself or your children or a farm
Lights out! "North Korea Attacked the powergrid with our own retooled cyber tools leaked with vault7" Uh oh
The US Gov now has all your wealth becuase you traded it for useless crypto that doesn't work when lights out
Or they just drop the price to nothing. That's even easier. Oh no..it was a crash!
No one really knows why these things happen...they just do!
Wall st crashes are the best way to pump money out of the people. We know they control the market to some extent, they could be controlling it to a larger extent
You move most of your USD to bitcoin
US GOV or some other hostile intelligence agency releases an AI that manipulates the market to favor itself
US GOV or some other hostile intelligence agency achieves the ability to unzip the blockchain with a quantum attack on the non-quantum proof algorithms of crypto. Ok everyone is exposed and could potentially have all their money siphoned away
You move most of your USD to bitcoin
Gov approves crypto
All those gains you made are retroactively made into capital gains and you didn't pay taxes on them
IRS comes after you, USMS comes and does asset forfeiture of your house and car, visits you at work demanding to see your computer there, shaming you. You lose your job, shamed on facebook, have to change your name and move
Sorry I'm so cynical these days but I've seen how they've pulled every stop in the book to undermine americans irrespective of politics. They are hurting everyone equally in each their own ways. They=deepstate / new world order. Basically this is coming down to Technoneofeudalists versus Populists. Are you on the side of the fascist dominators? Or the side of people, truth and everything we gave ourselves in the constitution? What inspired this post is the idea of honeypots. The honeypot is also the free-sandwich technique. Anything free is going to have strings whether you see them or not With google it was they were telling you 'do no evil' and yet we now know they are a CIA appliance for surveillance, bulk collection of deep mineable data, gaslighting (filter bubbles), and a domestic human zoo management strategy. Now they are attacking journalism by deploying very heavy-handed strategies to limit speech they dont' like politically (ie populist speech--'open source intelligence' primarily) They hate that we deal in facts and that the natural configuration of the truth is as a weapon against tyrants. Because they are the tyrants! Bitcoin, I still believe, will turn out to be a honeypot. They will use it like the stock market (which they control on the back end through fast transactions and ai, in addition to having insider intelligence on gov contracts and war). They will get everyone on bitcoin and then they will open that trapdoor. It's a money funnel..that's what it will be. I do understand that it will destroy money also if they do that. But that's ok. They already have all the gold and all the infrastructure to spin up more shell games...to them money hasn't existed for a while. Their currency is stolen art, stolen guns, stolen minerals, stolen children, stolen women, stolen organs, drugs, embargoed oil sold on the spot market. They dont need money. They've been bartering since time immemorial
Anarcho-capitalism is corporations' biggest nightmare
Look at the big corporations, like for example google, facebook, amazon. All what they fear is anarcho-capitalism. They are fighting a war against Bitcoin and cryptocurrencies, and they are supporting the government in the act of trying to suppress\regularize these currencies. An argumentation that I often hear from statists is that anarcho-capitalism (they us to mock us by calling our system "ancapistan") would be a dystopia in which big corporations rule the world by enslaving people. But this argumentation falls under the evidence that big corporations are fighting a war against the world of cryptocurrencies, and they are supporting the government. A question to statists: if big corporations would be advantaged by anarcho-capitalism, then why these corporation are supporting the state? For example read this: https://cryptodaily.co.uk/2018/03/next-war-crypto-twitte I cite a sentence from the article above: "Facebook went on a bit of an anti-crypto rampage, vowing to remove all cryptocurrency advertising in an attempt to reduce the number of scams users of Facebook are seemingly susceptible to." Edit: I'm not claiming that anarcho-capitalism is a movement that advantages the poor, and that it would redistribute the wealth. Indeed honest corporations would be advantaged by anarcho-capitalism and they would have all the interest in promoting it.
BITCOIN AIR: A COMMUNITY DRIVEN THAT STRIVES ON BRINGING AS MANY COMMUNITY VOTED CHANGES TO THE DEVELOPMENT AS POSSIBLE.
https://preview.redd.it/otudiayncb621.jpg?width=785&format=pjpg&auto=webp&s=df144a2bda2046e84c507488c30673aa8ebcfc68 Before we dive into the BITCOIN AIR review, let’s have a general look at the crypto market and the problems faced on exchanges. The cryptocurrency market has seen vast expansion in the last two years with continued increase in market capitalization and in the number of cryptocurrency coins and tokens (which collectively total more than 1,850). This is a result of media hype and media coverage of the crypto market, as well as its unregulated nature that has allowed vast participation by even the most uninformed of retail investors. This is not surprising as the crypto market far outpaced other markets by staggering amounts. Some cryptocoins gained as much as 20,000% between 2016 and 2017. THE PROBLEM The lure of quick and supposedly easy money has not only caught the attention of genuine companies and investors in this space, but has also attracted nefarious entities who want to grab a share of this market. With no regulation to check what is coming into this market as an investment product, a lot of scams have taken over. This poses a real problem in the crypto exchanges and the market at large. We now have a situation where many scam crypto exchanges are mostly common, and the majority of crypto investors are afraid, unsophisticated investors without the knowledge of how to decipher the scam crypto investments from the real ones. Lack of regulation in the market and exchanges has also created a situation where there is no trust entity to validate the thousands of new cryptocurrency-based products that are entering the marketplace on a daily basis. Trusted and accurate information channels that can serve as valid sources of informative and educational content for the unsophisticated, retail investors are lacking. What is the end result? Many cryptocurrency traders have lost and are still losing money in the crypto market. High transaction fee after a successful trading is another challenge on the cryptocurrency exchanges, lack of security, liquidity, and so on. THE SOLUTION https://preview.redd.it/2s6ukklrcb621.jpg?width=528&format=pjpg&auto=webp&s=daea9e56088e342ceaf857ed0eff8033ccb25b94 By using the new design concept and leading technology to utilize the Bitcoin Air’s unique Air Protocol technology, users can choose to off chain the value of their Bitcoin Air, immediately locking in the USD value. The off chaining capability will preserve the USD value of any burned coins in USDAP (USD Air Protocol) through a bilaterally operating side chain that will gain its supply through the action of off chaining your Bitcoin Air to USDAP. What this implies in essence is that, it maintains peace of mind, knowing that the value of your Bitcoin Air is securely guarded by the Air Protocol. THE MISSION OF BITCOIN AIR Bitcoin Air’s mission is to design and produce the first viable attempt at tackling the key issues associated with cryptocurrency, small business and environmental risks at hand today. By producing the first Carbon Credit Asset-Backed Dual-Chain Blockchain, Bitcoin Air leads the way in pioneering the adoptability, scalability, and overall benefits of using the Blockchain. By combining this technology with Green Initiatives and a viable means of Asset-Backing, Bitcoin Air creates the first Living Ecosystem dedicated to reducing the Human Footprint, lowering the cost of living, and increasing the overall quality of life. https://preview.redd.it/6zktiuwtcb621.jpg?width=1123&format=pjpg&auto=webp&s=240ab22e1d5e2539b7a259c13e38c31db627cdd6 EXPLAINING HOW THE BITCOIN AIR PLATFORM WORKS Bitcoin Air is a bilateral dual-chain blockchain developed to deliver a means of indirect carbon emission reductions through decentralized, trust-less merchant or consumer interactions. Bitcoin Air plans to reduce carbon emissions through the development of a dual chain volatile/stable coin pair dedicated to creating the most versatile and scalable solution for merchant and consumer use. Merchants will be able to transact in cryptocurrency without the worry of profit loss due to fraud or technical issues within their conventional credit card processing equipment. Consumers will be able to transact in a multitude of ways including in person, over the web, or via AirCash Physical Currency! The technology behind the Air Protocol was based on the idea of an off chain decentralized reserves system that could maintain the end value of a merchants earnings. Since the analysis of cryptocurrency shows that volatility has come to be the largest issue which is largely caused by market manipulation and in hand aided by low adoption, no regulation, and failed attempts at reserve systems. Bitcoin Air will defeat all of these issues by ultimately providing both a decentralized payment system and a decentralized reserves system that can operate 100% trust free and decentralized from any central power. The storage of Air Protocol will be on a privacy focused side chain that will allow open access to your ledger. This in turn means that access to your ledger of mints/burns will be at your control at all times. Publicly permitted API’s will be developed to allow for even the most common bookkeeping and accounting softwares to integrate with your private ledger. The act of reentry into the market will be as simple as on chaining your USDAP to Bitcoin Air. This event will occur through the burning of USDAP and the minting of Bitcoin Air at the current market rate. This action, called on chaining, will cause a rise in circulating supply, along with a rise in market capitalization to make sure no other holder takes a negative impact by reentry to the market. Simultaneously, the burning of USDAP will lower the circulating supply and lower the reserves available on the static value side chain. https://preview.redd.it/01ibbyixcb621.jpg?width=789&format=pjpg&auto=webp&s=76c96950a2148922714a46acb51136199df7d6b5 THE MARKET POTENTIAL OF BITCOIN AIR Bitcoin Air hopes to create the balance that will open the doors for mass adoption by all small businesses world wide. The current financial impact of small businesses on the United States GDP alone is 46%, that would put the potential market at upwards of $8.5 Trillion according to the current United States GDP. To think mass worldwide adoption would put that current number to shame, but to start small and possible, even 1% of that current market flooding to Bitcoin Air through ease of access would mean a market capitalization of $85 Billion. Bitcoin Air seeks to develop an easy, user- friendly, rapid payment system that is accessible and secure enough for everyday use. THE UP AND COMING FORK OF BITCOIN AIR The official Bitcoin Air fork date will be announced at a later date as highlighted in the pre-fork road map (view the diagram under roadmap). The overall fork will take place by utilizing three different blockchains and in the end result creating two bilaterally operating blockchains. The Peercoin Blockchain is what the entire development of this project will begin on, during this time, the Bitcoin UTXO will be added along with several core features including Lightning Network, Segregated Witness, and Atomic Swaps. Upon successful finalization of the first blockchain test fork, the Haven Protocol will be forked to create a new off-chain DPoS reserves system dedicated to holding static value without being effected by the volatile states of the market. The Peercoin supply will not be added into the fork and this means that purchasing Peercoin will not get you Bitcoin Air during the snapshot. The only users receiving Bitcoin Air at the time of the fork will be holders of Haven Protocol (XHV) and Bitcoin (BTC) at a ratio of 1XHV:(XHV x Current Price of 1 XHV)AIR and 7.5BTC:1AIR. This in turn will put the circulating supply around 2,500,000 AIR to begin, and no cap on the max supply to be open for minting and burning based on the Air Protocol usage. Holders of Haven Protocol will receive USDAP that can be minted into Bitcoin Air at current market value at any time. https://preview.redd.it/jm6g5bi0db621.jpg?width=1038&format=pjpg&auto=webp&s=2025429a31bdbcee2e5e808b9bfffe3f6bb9a07e This process will create new Bitcoin Air to create a private way for Haven Protocol holders to receive their Bitcoin without a need to expose their Private Keys to a public blockchain. This process would initially put our supply overall at around 5,000,000 AIR after the final holder of USDAP burns their USDAP and mints AIR on the side chain. At a later fork date, there will be additions to the Air Protocol including the ability to mint/burn into your local currency rate (EURAP, AUDAP, GBPAP, etc.) and mint to same value in AIR when needed.
Today the Security Token Ecosystem needs more services aggregation, processes standardization and procedures digitization in order to achieve a global adoption, and this is why the EQWITY ecosystem is created. But before we dive into the EQWITY review, let’s have a general look at the crypto market and the problems faced on exchanges. The cryptocurrency market has seen vast expansion in the last two years with continued increase in market capitalization and in the number of cryptocurrency coins and tokens (which collectively total more than 1,850). This is a result of media hype and media coverage of the crypto market, as well as its unregulated nature that has allowed vast participation by even the most uninformed of retail investors. This is not surprising as the crypto market far outpaced other markets by staggering amounts. Some cryptocoins gained as much as 20,000% between 2016 and 2017.
The lure of quick and supposedly easy money has not only caught the attention of genuine companies and investors in this space, but has also attracted nefarious entities who want to grab a share of this market. With no regulation to check what is coming into this market as an investment product, a lot of scams have taken over. This poses a real problem in the crypto exchanges and the market at large. We now have a situation where many scam crypto exchanges are mostly common, and the majority of crypto investors are afraid, unsophisticated investors without the knowledge of how to decipher the scam crypto investments from the real ones. Lack of regulation in the market and exchanges has also created a situation where there is no trust entity to validate the thousands of new cryptocurrency-based products that are entering the marketplace on a daily basis. Trusted and accurate information channels that can serve as valid sources of informative and educational content for the unsophisticated, retail investors are lacking. What is the end result? Many cryptocurrency traders have lost and are still losing money in the crypto market. High transaction fee after a successful trading is another challenge on the cryptocurrency exchanges, lack of security, liquidity, and so on.
Eqwity is building the easiest way to enter the security token offerings (STOs) market. Eqwity is a decentralized ecosystem that is aggregating, standardizing and digitizing all necessary services for performing a Security Token Offering. https://preview.redd.it/zhhzwt25u4p21.jpg?width=540&format=pjpg&auto=webp&s=6b3ab996d36925eed7e245ede19dcce0ca745280 Eqwity aims to bring back the notion of access to services by introducing the STO Plus which is a new hybrid model entitling to a compliant security token as well as a utility token for enjoying the services. Eqwity is the first decentralized ecosystem to easily get into the security token offerings market; and it includes new concepts linked to solutions that will be deployed at different project stages.
THE INTERESTING THINGS TO NOTE OF EQWITY:
B° STO+ PLATFORM: The STO Plus platform aims to aggregate and provide all necessary services to set up and perform your Security Token Offering in a unique ecosystem. The overall ecosystem of Eqwity is shaped to support blockchain companies at each milestone of their life cycle, from incubation to liquidity generation. To take the STO concept one step further, Eqwity introduces a new hybrid STO standard as well as the Proof of Viability (PoV), this of course happens to be the first decentralized project audit system based on collaborative competition.
With the development of STO Plus (STO+), Eqwity has successfully introduced a new hybrid model entitling to a compliant security token as well as a utility token in a two-in-one package. This improvement aims to bring back the notion of “access to services”.
Proof of Viability (PoV): A project could be compliant without being viable, so to prevent non-viable or destined to fail projects for being able to raise funds from the community, it was important to include an audit phase in the process. The project audit phase had to be the most decentralized possible, operated by professionals and self-financed. Based on this, Eqwity had shaped the first decentralized project audit model named Proof of Viability (PoV).
Every submitted project will be divided in different parts based on field (financial plan, product market fit, penetration strategy, token economics, and so on) which must be audited. Once this is achieved, each part will be randomly sent to a decentralized network of auditors organized in block fields (financial auditors, marketing auditors, blockchain auditors, legal auditors, and so on). For joining the network of Eqwity, each new auditor will need to be verified first (identity verification, background checking, skills test, project audit simulation). Several auditors in each block field will compete to be one of the first five to define the project as viable or non-viable in their field. Once this is reached, the audit session is stopped. But, not every auditor gets a reward only the five winners from each block field. For participating, each voluntary auditor will need to deposit first on the platform the amount in EQY tokens he would desire to earn for his audit service (a max value will be defined by the platform for avoiding abuses and ensuring self-financing). After the audit session is terminated, three other auditors from each block field will be randomly selected for becoming safeguard auditors. The role of the safeguard auditor is to verify the quality of the audit (relevancy, fraud…) performed by the five winners. If a majority of safeguards define their audit as relevant, qualitative and free of fraud; the auditors get back their deposit and received the same value as a reward in BTC or ETH. The safeguard will earn a fixed reward previously defined on the platform for this kind of mission. If a majority of safeguards find a fraud or a real irrelevancy, the concerned auditors will get a black point, in other words a warning, and their deposit will be frozen and sent to safeguards as an additional reward. In this case, the project is resubmitted to the network for a second audit session. It is important to know that after receiving several black points an auditor is banned from the network for ensuring the highest level of quality in each block field. And lastly, all audited projects report will be available to the public and recorded in the blockchain. The Eqwity platform is amazing! Isn’t it? https://preview.redd.it/p96cot1bu4p21.jpg?width=685&format=pjpg&auto=webp&s=7e8a4725d203c866e3e4be7e375c167cf04d0f3e
HOW THE COMMUNITY VOICE’S VOTING PROCESS WORKS ON EQWITY:
A voting event could be automatically generated by the smart contract (for example; day of decision about dividends sharing) or initiated by founders for deciding on a strategic or non-strategic decision.
The nodes are notified via Community Voice DApp. They get all information regarding the voting event (purpose, rules, dates, and so on).
Each node is notified again for submitting their vote when the voting event starts.
Before the vote is submitted, the smart contract check if the utility token wallet of the node have the sufficient balance for proceeding (1 EQY = 1 Vote).
At the time the vote is submitted, 1 EQY token is debited from the shareholder's wallet and the vote is recorded within the smart contract.
The voting event automatically close once the end date is reached. All nodes are notified at the same time.
They are automatically generated and smart contracted. 8. Once all votes are considered, the results are pushed to all shareholders via Community Voice DApp.
THE UNIQUE FEATURES OF EQWITY
Discussed below are some of the amazing features that stand out this project, EQWITY among others:
One-Stop Shop: EQWITY makes readily available all the necessary services to set up and perform your Security Token Offering in a unique decentralized ecosystem.
No Coding:EQWITY offers automated Security Tokens issuance without coding a line thanks to its user friendly smart contract generator.
Digital Asset Liquidity: Automated digital asset listing on Blockchain Stock Exchange (BSE) for creating your first liquidity is provided on EQWITY.
Hybrid Offering Model: With EQWITY, you can be sure of discovering the power of “STO Plus” by offering a compliant security token and a utility token to your investors simultaneously.
Easy Compliance Process: On the EQWITY ecosystem, it is easy to perform all your compliance procedures thanks to a fully standardized and smartly digitized process.
Project Incubation: EQWITY make easier STOs market penetration to blockchain startups thanks to the first STO-oriented accelerator program.
Governance Dapp: EQWITY does facilitate the governance decentralization of your blockchain company via Community Voice Mobile DApp.
Before we dive into the MASTERNET review, let’s have a general look at the crypto market and the problems faced on exchanges. The cryptocurrency market has seen vast expansion in the last two years with continued increase in market capitalization and in the number of cryptocurrency coins and tokens (which collectively total more than 1,800). This is a result of media hype and media coverage of the crypto market, as well as its unregulated nature that has allowed vast participation by even the most uninformed of retail investors. This is not surprising as the crypto market far outpaced other markets by staggering amounts. Some cryptocoins gained as much as 20,000% between 2016 and 2017. THE PROBLEM The lure of quick and supposedly easy money has not only caught the attention of genuine companies and investors in this space, but has also attracted nefarious entities who want to grab a share of this market. With no regulation to check what is coming into this market as an investment product, a lot of scams have taken over. This poses a real problem in the crypto exchanges and the market at large. We now have a situation where many scam crypto exchanges are mostly common, and the majority of crypto investors are afraid, unsophisticated investors without the knowledge of how to decipher the scam crypto investments from the real ones. Lack of regulation in the market and exchanges has also created a situation where there is no trust entity to validate the thousands of new cryptocurrency-based products that are entering the marketplace on a daily basis. Trusted and accurate information channels that can serve as valid sources of informative and educational content for the unsophisticated, retail investors are lacking. What is the end result? Many cryptocurrency traders have lost and are still losing money in the crypto market. High transaction fee after a successful trading is another challenge on the cryptocurrency exchanges, lack of security, liquidity, and so on.
To Become the World’s Top Crypto Financial Company with an Interconnected and Open Ecosystem that Caters to Everyday’s Needs of a Huge and Prosperous Community.
UNIQUE FEATURES OF THE MASTERNET PROJECT
Briefly discussed below are the salient benefits to be enjoyed on this new platform, MASTERNET: a. SMART CONTRACT: Are digital embedded by an if-this-then-that (IFTTT) code that allows them to execute Blockchain manually without the need of a third party, but it also ensures that all parties know Contract details and terms will be automatically made once the conditions are guaranteed. b. TRANSPARENCY: Anyone can track the transactions of blockchain from one address to another and can record the entire history on that address. c. IRREVERSIBILITY: Theoretically, only a quantum computer can intervene and decipher the blockchain chain and it is only disappeared when there is no global internet. d. DATA SECURITY: The information on blockchain chains are scattered and absolutely safe and only the holder of the private key has access to that data. https://preview.redd.it/4qo9jqi6ldy11.jpg?width=684&format=pjpg&auto=webp&s=2b8a8784009fbc953ecc401cefccbbd1122dabfb
It seems that after a terrible start to the week the market of the cryptocurrency is painted green this March 6, it is showing a modest recovery in its 20 main cryptocurrencies. During the last 24 hours the cryptography market has added about $ 6 billion to its market capital valuations in general. The 20 main digital currencies that have been favored with this, EOS and Litecoin show good earnings of up to two digits, while Bitcoin, the main currency of the market, still dominates the cryptographic space, it shows an increase of only 3%, which is positive for the cryptocurrency that is trying to overcome the resistance of $ 4000 and that has recovered from the losses of Monday, March 4. On the other hand, Ethereum (ETH) has shown an increase of 7.3%, trading with a capital of $ 14.7 billion, like Bitcoin, it has been able to recover from Monday's losses, maintaining its second position as the strongest cryptocurrency. In the list of the first five cryptocurrencies that have been recovered, XRP has the lowest percentage of profits at present. EOS and Litecoin are, on the other hand, the stars of the day, both with two-digit gains. EOS is taking fourth place in terms of market capitalization with $ 3.8 billion; for this cryptocurrency means a mark in its continuous growth, which have had a 50% mass growth, this cryptocurrency has successfully eliminated Bitcoin Cash from the top five positions. The cryptocurrency, Litcoin, is in the fight staying in the number five position, registering a mass increase of 66%, with a capitalization of $ 3.3 billion. The other cryptocoins that occupy the first ten places have shown modest gains between 2 and 5%. Tron, ranks number 10 on the list. This is good news for those who move in the cryptocurrency market and also for future investments in this economy, the rise in prices and positive numbers are a respite for many companies and users.
Are Cryptocurrencies More Trustworthy Than Stocks?
A recent eToro survey explored the preferences of investors. GETTY Millennials have great faith in the digital currency market, according to an industry poll. The eToro survey, which drew input from 1,000 online traders between the ages of 20 and 65, revealed that roughly two-thirds of online Millennial cryptocurrency traders (age 20-38) place more trust in digital currencies than they do in stocks. Further, 43% of Millennial participants expressed greater faith in digital currency exchanges than in stock exchanges. Members of Generation X, in contrast, were far more likely to favor marketplaces for stocks, with 77% of the people in this group (age 39-53) indicating this preference. In addition, only 41% of these respondents stated they trust cryptocurrencies more than stocks. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Breaking Down Preferences When explaining the varying preferences of people in separate age groups, the poll emphasized a few key variables. One major factor cited in the survey results was the sharp differences in education that existed between the varying age groups. More than half of all Millennial participants (52%), for example, stated they were either "knowledgeable" or "very knowledgeable" when it came to digital currencies. However, only 32% of Generation X respondents and 19% of Baby Boomers (aged 54-65) provided this response. Millennial Point of View Many Millennials perceive cryptocurrencies differently than individuals in other age groups, and this view is worth exploring. Eric Ervin, CEO of Blockforce Capital, pointed to their reliance on technology when explaining this situation. "Millennials tend to trust what they use and understand," he stated. "They've grown up with and understand Amazon, Google, etc. and now blockchain/crypto, and it makes sense they over-index in trusting those investments/infrastructures," he added. "It also makes sense that those who've invested in crypto have an even higher trust level of those exchanges even through 2018's bear market slide," noted Ervin. Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital, also shed some light on the subject: "Digital markets are less mature, less regulated, and more vulnerable to hacking," he noted. However, Millennials gravitate toward them due to several factors, including "the ease of use, low barrier to entry, high profit potential and the hype around them," he stated. Sean Walsh, CEO of crypto mining firm HyperBlock, also weighed in on the preferences of Millennials, stating that: "Crypto markets may be less developed, but the younger generations seem to feel a greater affinity for them specifically because of the fact these markets are new." Market Infrastructure While the digital currency markets seem to have gained the trust of younger generations, they still have a long way to go in terms of developing proper infrastructure. A perfect example is the numerous hacks of cryptocurrency exchanges, which have resulted in $1.5 billion worth of losses, according to CoinDesk. The stock market is clearly more proven than that of digital currencies, a claim analyst Sheila Warren described as "impossible to dispute." While the digital currency market's infrastructure is less evolved, it will "catch up fairly quickly," predicted Warren, head of the blockchain project at the World Economic Forum. "I think crypto markets are (unsurprisingly) relatively immature, and the amounts/volumes running through them aren’t yet supported by the current infrastructure," she stated. However, she emphasized that the field is making progress on this front: "There's a lot of investigation and work focused on decentralized exchanges, etc, and I think the issues are largely known (and therefore en route to being solved)." Financial Institutions' Vulnerability Further, several market observers noted that the stock market's infrastructure is far from perfect. "Stock markets are by no means immune to a hacking or other nefarious attacks," noted Ervin. "U.S. markets experienced a flash crash in 2010, Nasdaq was hacked in 2011, and then had a price reporting glitch in 2017," he added. "These occurrences are noted by Millennial investors, many of whom are drawn to crypto investing for its eventual promise of immutability," said Ervin. Tim Enneking, managing director of Digital Capital Management, offered a similar perspective. Simply "Because one doesn't hear about fiat hacks doesn't mean they don't occur," he noted. "Banks are hacked much more frequently than generally published, for instance, but rarely report them publicly," claimed Enneking. Matthew Unger, founder and CEO of iComply Investor Services inc., also spoke to the shortcomings of financial institutions' infrastructure. " In its current form the stock market has seen little technological innovation since the 70s when the inefficiencies of paper trading created a crisis that nearly shut down the markets," he stated. "People forget about that." "The migration to the stock market’s current infrastructure required a massive overhaul and forced firms to digitize their assets," noted Unger. Cryptocurrency Market Progress "Crypto exchanges are still young, and their fractured infrastructure shows it," said Ervin. "However, many are working to bring an institutional presence to the digital asset world — making great strides along the path to regulation that traditional investors yearn for." "We feel that whatever the trust level that Millennials (and other groups) have in crypto and exchanges, will only increase as the assets and infrastructure mature," he predicted. Disclosure: I own some Bitcoin, Bitcoin Cash and Ether. https://www.forbes.com/sites/cbovaird/2019/02/22/are-cryptocurrencies-more-trustworthy-than-stocks/?utm_source=TWITTER&utm_medium=social&utm_content=2153062436&utm_campaign=sprinklrForbesCrypto#70ca130a533d
The intelligent investors guide to cryptocurrency: Part 3a - The value proposition
*Introductions: I'm joskye. A cryptocurrency investor and SDC holder. * ... Hi again. This is the third part in our ongoing series on how to trade better and determine intelligent investments in cryptocurrency for the future.
In part 1 I talked about the importance of selling enough to make back your principle investment i.e. if you buy something at $300 and it rises to $600 in value, sell $300 to eliminate all future risk of personal loss e.g. if that asset falls to $150 in value after (which can happen easily since suchvolatility is very common in cryptocurrency). In cryptocurrency trading/investments a 100% return of investment should always prompt you to consider selling 1/2 your stack.
In part 2 I talked about the psychology behind fear of missing out; i.e. the dangers of buying during a sudden rise in an asset's price and how to make the most of such rallies whilst minimising the risks involved in joining them.
In part 3 I will now discuss Cryptocurrency valuations, price metrics and identifying coins of value, worth holding. ... What makes a coin worth holding: The value proposition What makes anything worth holding? How much of themselves is a person willing to put into it - that's how much. Cryptocurrency is largely driven by faith. It is a speculative enterprise i.e. people mostly put money into cryptocurrencies believing they will go up in value in the future; their plan to sell at a higher price when it does. Currently most cryptocurrencies serve no function than being currencies in themselves. Unfortunately these currencies are largely not recognised by governments, most institutional investors or companies are legitimate stores of value or legitimate currencies of transaction. As such legislation and rules around the world regarding them vary considerably and are often absent. There are very few cryptocurrencies that have legitimised backing, are insured or supported by enterprises that are insured for their loss and essentially there is little to protect you if you lose money through them. So why do people bother putting money into cryptocurrencies it in the first place?
Well some of them do have a good use or potential for good use beyond speculation.
If the present and future value of a cryptocurrency is driven purely by speculation then you are essentially gambling by putting your money to buy that coin and joining the pool of other gamblers who are doing so. You are essentially joining a ponzi scheme and waiting game hoping you've gotten in early enough and convinced enough people to buy more of the asset you hold at slightly higher prices until a price is reached that you can cash out at (or until that thing becomes so big that everyone starts using it as their store of value). This type of dynamic essentially underpins the mentality of most investments and trades i.e. buy low and sell high. I'd like to add buy early for investors since buying during a low in an already established asset may be setting yourself up for being forced to sell at a lower low later (especially if you don't understand the fundamentals of that asset). If however the present or future value of a cryptocurrency is driven by some service other than speculation which can attract and drive fiat currency into it's ecosystem then it is potentially valuable. I.e. will people actually use their USD/Yuan/Euro/GBP/Yen/INR etc to actually purchase the coin in question to do something useful with it (other than gamble on it's future price). There are some cryptocurrencies which satisfy this criteria: ... Bitcoin It is not a currency, it is a remittance system and store of value. It has a reputation increasingly to being seen as a digital version of gold.
It is similar to gold but unlike gold it has no direct physical presence. Gold and is mainly a store of value (rather than it's use in jewellery, cosmetics, therapeutics or electronics which forms a minority of it's market cap) but Gold's physical properties make it vulnerable to seizure, taxation and legislation. Gold also has storage fee's and is difficult to transport; it's speculative value as a store of value is derived from faith in it and it's cultural history.
Unlike gold, Bitcoin is comparatively extremely easy to transport in very large quantities, very easily over short spaces of time. It has sufficient money (USD, Euro, Yuan, Yen, INR etc) to give it decent liquidity i.e. enough people are using it now that if you bought $10,000 worth of bitcoin today, chances are good (that because enough people are also transacting bitcoin at less, simillar and greater quantities) you could sell it somewhere else straight away for $10,000.
Because of these reasons Bitcoin's price also fluctuates in a manner simillar to Gold i.e. conditions which create global or regional economic or geopolitical uncertainty favour an increase in it's price whilst conditions which favour global or regional economic stability and growth favour a drop in it's price.
Bitcoin however is too slow to be a useful currency. It takes 10 minutes for a transaction to be processed and can take an hour for said transaction to be cleared. Obviously if you were waiting to buy a pint of milk from the local shop, you wouldn't do it with Bitcoin because you'd be waiting around a very long time for it to clear. However for much larger transactions where you might not want to wait days (e.g. bank transfers) but can afford to wait a few hours, Bitcoin is surprisingly versatile.
Bitcoin has the cultural and historical advantage of being the first cryptocurrency. It is also still the largest cryptocurrency by a long way with the largest marketcap i.e. price per bitcoin [$952 as of writing] x the number of bitcoin in circulation [16,074,687] which is $15.3 billion. Compare to it's next biggest competitor Ethereum which has a marketcap of $700 million (i.e. only 4.57% of Bitcoin's).
Gold in contrast has a market cap of $6.8 trillion i.e $6800 billion i.e. Bitcoin has a market cap that is only 0.22% of Gold!
The upside to this is that if more people feel that Bitcoin is a legitimate alternative to gold, demand for Bitcoin will surge and since the Bitcoin supply is relatively limited, it's price will shoot up massively - There is a big chunk of money waiting to be gained by eating into the Gold market cap!
If you believe Bitcoin could replace Gold as a more portable, cultural store of value then invest in it. However I warn you there are problems because the software behind bitcoin needs significant upgrades to support increased transaction loads without breaking and due to various reasons (mostly self interest among people who profit from producing Bitcoin) this is being significantly delayed and possibly not happening. I am uncertain if Bitcoin will continue to remain a viable investment in the long term if it does not address these issues.
Bitcoin's value proposition is that it is a store of value. It may not be able to sustain this without significant upgrades to it's underlying software. ... Monero (XMR) Bitcoin does not have anonymity inherently built into it's software. Therefore if you buy and sell Bitcoin especially on cryptocurrency exchanges (where user registration is required), it is possible to trace whom Bitcoin is being transferred from and to.
In contrast Monero is fully anonymous. You cannot see whom Monero is sent from and to, nor can you see how much Monero has been sent.
It has good liquidity, is actively trading and is gaining increasing recognition and respect from cryptocurrency enthusiasts.
Obviously this is useful if you wish to transact in things you do not wish seen!
Otherwise it essentially has many properties similar to Bitcoin.
For this reason I see Monero as Bitcoin + anonymity. I.e. it's value proposition is as store of hidden wealth. I also believe it does not have the issues that bitcoin does namely, same level of mainstream recognition, spotlight of regulatory awareness and developers do seem to be more focused on achieving better scalability and transaction times (it already does 10-20 minute verification time vs bitcoins 1 hour) which gives it better potential as a currency presently compared to Bitcoin.
Although there are a lot of illegitimate uses for private transactions and value storage, there is a far bigger global market for legitimate, fully secure and anonymous transactions for large existing financial institutions (e.g. investment banks and the international services that provide settlement between them).
-This sort of market cap dwarfs gold. However this type of up-scaled usability will not occur until the transaction verification times are much faster (nanoseconds) and the protocol is enhanced to cope with much larger transactions volumes and frequency at that speed; We are a long way off that. I do believe fiat stored in Bitcoin will gradually transfer into Monero boosting it's value. I am not sure Monero though can presently bring fresh fiat currency (USD, Yuan etc) into it's ecosystem beyond outsider speculation in future price.
However it's value went up massively when the largest current darknet markets (a type of anonymous marketplace where illegal goods and services are often traded) Alphabay and Oasis announced their endorsement and use of Monero. This has given Monero a first mover advantage and attract scores of speculators into it's ecosystem.
This is also where it's major present use case and value proposition is; in the settlement of anonymous transactions on darknet markets and a potential successor to Bitcoin. Darknet markets are what drew fiat money into Bitcoin and helped make it the store of value it is now.
If those darknet markets crash, XMR's value could still go down considerably (until it matures and gains a larger market cap)... and it did when when Oasis market disappeared along with it's customers money.
It is not unique in it's function or potential value proposition. My warning about holding Monerofor the long term is that it has competition for it's function not just from Bitcoin itself but from other anonymous coins such as Zcash, DASH (which provides instantaneous settlement) and SDC. Perhaps more importantly, Ethereum (ETH) is now planning to implement optional anonymity (via zSNARKs) in it's transaction network; if it does when combined with Ethereum's own functionality and well defined development roadmap (that will likely several second verification times in late 2017) would render XMR potentially redundant.
The other issue I currently have with Monero is that it uses Proof of Work (PoW) algorithm which increases it's transaction verification times, and encourages constant selling on creation (with formation of mining cartels and subsequent minority led development and price manipulation) rather than accumulation and holding.
This is in direct contrast to the Proof of Stake (PoS) or PoS/PoW hybrid model of coin creation. The differences will be elaborated later (and more thoroughly in a separate article but essentially I believe PoS encourages holding rather than selling leading to better price stability, reduced volatility, gradual increase in value over time and better resistance to price manipulation (including leveraged short selling) by day traders.
Indeed if Monero switched to PoS or hybrid PoW/PoS it would eliminate almost all the issues I currently have with it (by making it a more stable store of value); incidentally I have similar issues with Bitcoin.
... Ethereum (ETH)
The first cryptocurrency which was built with the specific intent of incorporating 'smart contracts' into it's platform.
Simplified, smart contracts allow for much more sophisticated settlement systems and formulae than simple transfer to and from orders and in the future provide the means through which access to these services and indeed services themselves can exist solely on the Ethereum blockhain.
If we work on the premise that blockchains (the technology that underlies most cryptocurrencies) whose entirety of verification is distributed across multiple computers around the world are inherently more secure, stable and harder to take down or maliciously alter than traditional centralised databases, then there is obvious value to institutions who may wish to use such systems to improve the existing security of their services.
More importantly smart contracts allow for trustless settlements i.e. settlements which do not necessarily require third party verification. This means that it could remove the need (and thus expense) of middlemen in a number of existing financial and non-financial real world settlement systems.
It has extremely good developer support and a growing base of large companies (e.g. JP Morgan, Santander, Microsoft) willing to support it or using it. It is also functional and versatile with a clear development roadmap that includes PoS (a system that I believe encourages a gradually increasing or otherwise stable price), improved scalability and most importantly sub-second transaction times.
There are also services already being built on top of Ethereum scheduled for launch by mid 2017 which in themselves could draw fiat currency into the Ethereum ecosystem (although this may take a few years for the effect to become fully apparent and some or indeed all of them may not succeed).
As such in it's present form it's price is a speculative figure derived from the above potential.
The value proposition for Ethereum is that it allows for complex, trustless settlement systems to be built on it. This is a huge deal because the scope of applications is wide and although the technology needs to mature (to support greater transaction volume, frequency and more secure functionality) the sheer amount of fiat such a platform could attract through conversion of traditional centralised settlement and contract services to more secure decentralised platforms is very huge.
This is such that many blockchains such as Hyperledger, Lisk, Counterparty, Rootstock, Tezos and Synereo are being built to try and compete with Ethereum.
Additionally in late 2017, Etherum plans to switch to PoS from Proof of Work mining (the means through which the Ethereum blockchain is verified and new Ethereum is minted to Proof of Stake which in my opinion will make Ethereum an amazing store of value.
... Shadowcash (SDC) The value proposition is a double escrow, fully anonymous, decentralised privacy platform which incorporates private chat, private marketplace and secure, trustless private settlement system into one platform that is fully integrated into it's own blockchain.
There is no other blockchain that is attempting to do this right now (there are some non-anonymous decentralised marketplaces).
If Shadowcash launches it's marketplace and it's marketplace becomes active, it will generate revenue and draw fiat money direct into the Shadowcash ecosystem.
This will give it something that no cryptocurrencies currently actually have: A valuation fully independent of speculation. At this point Shadowcash will have a basic calculable and true intrinsic value measurable in the amount of fiat currency (USD, Yuan, Euro etc) flowing through and stored in it. To the financially trained it will have a real P/E ratio.
Shadowcash already has multiple features that make it an excellent store of value: Low coin supply, potential for great demand, near instantaneous transaction verification times, ability to earn interest for simply holding it.
Indeed one of the biggest immediate factors that made me switch to Shadowcash was using their Umbra client to store and stake my SDC which allows me to earn effective interest on my holdings by leaving the Umbra software running on my laptop.
Since the SDC network is verified via Proof of stake (PoS) rather than Proof of Work (PoW); doing this does not use up valuable CPU/GPU resources on my 3 year old laptop (which I would have to if I attempted to mine Monero or Ethereum via their current PoW algorithms) allowing me to continue using my laptop for work and gaming. I am not penalised for having a slow computer. I am instead rewarded for holding my SDC to verify it's network rather than wasting computing time and electricity to mine and sell it.
I mentioned a major issue I had with Monero was it's usability and the difficult usability of darknet markets in general.
Shadowcash is incredibly easy to use and is heavily focused on usability. This is absolutely essential to it's end users: customers who seek convenient easy and speedy secure anonymous transaction. This will be a dream come true for traditional users of darknet markets. To explain why lets elaborate on traditional darknet markets where in order to transact anonymously you have to:
1. Download the TOR browser. 2. Learn how to use it. 3. Buy XMR or Bitcoin. 4. Learn how to transact with these coins *safely* (yes this is still an issue with XMR in spite of it's built in privacy). 5. Learn how to and where to find reliable secure darknet markets. 6. Create accounts on these markets to access them *and* 7. Have faith that the websites and the highly centralised (and thus much more vulnerable) servers hosting those markets you use will not get shut down, not disappear with your money and not betray your transaction details and potentially identities to the authorities should they be infiltrated by them.
Whereas with Shadowcash's market place this process will become:
1. Download the Shadowcash Umbra client (https://shadowproject.io/en/gettingstarted) 2. Buy some SDC on an exchange and transfer it to your Umbra client. 3. Browse the Shadowcash marketplace and transact securely, safely and anonymously.
That's pretty convenient by comparison.
Unlike traditional darknet markets, Shadowcash does not exist on a centralised server but rather utilises the blockchain technology to exist simultaneously as a whole on all the computers supporting it. This makes it inherently more secure against traditional forms of cyber attacks and account hacks that apply to traditional web based services.
Never underestimate the effect of convenience and security in bringing more people (and fiat currency) into cryptocurrency. SDC could be a big gateway through which this happens.
Indeed the SDC roadmap includes mobile stakable clients and other features designed for it's easy and widespread distribution and use.
I believe because of this SDC could create a paradigm shift in the way anonymous transactions and settlements occur.
In summary I think Shadowcash can be a very useful application as a privacy platform for private communications and transactions. ... ICONOMI (ICN)
In it's simplest form it is an index fund of certain cryptocurrencies i.e. it represents several million dollars worth of USD and Euro that have been converted into a mixture of Bitcoin, Ethereum, Monero, Dash, Maidsafecoin among a few others. The value of this portfolio will fluctuate and it's composition will periodically change depending on whether the coins it represent fail to or achieve certain criteria.
It will also incorporates a fund management platform that is to say in layman's terms, it will be an air B&B of investment advisors and fund managers in cryptocurrency.
Those two points constitute it's value proposition. By nature of the way it works it has an easily identifiable P/E ratio based on the amount used to create the fund ($10.5 million) against the current value of that fund based on it's
If you believe the total marketcap (total valuation) of crptocurrency is going to boom through 2017 and the next few years (and it has massive room to do so given the marketcap and limitations of Gold along with emergent non-speculative usability of certain cryptocurrencies) then ICN is possibly a very good token to buy and simply hold.
The price of ICN is currently $0.33. Based on it's initial valuation of $0.14 per token this would give it an approximate P/E ratio of 2.36. This is falsely assuming the total fiat value of the index has stayed static.
In reality the ICN index has increased 30% in value so as of writing it's true P/E ratio is ($0.33 / (0.14*1.3)) = 1.81.
Compared to other currencies where the intrinsic P/E ratio is infinity this is incredible and represents amazing value for money even when compared against traditional stocks (e.g. GOOG shares as of writing have a P/E ratio of 33).
So for absolute beginners, the risk averse and long term investors, ICN may be the safest and most profitable token to invest in over the long term.
Risks to be aware of are the possibility of regulation restricting or banning the ICN token, a general decline in cryptocurrency marketcap and poor performance in multiple coins composing the ICN index which would bring the value of ICN down significantly.
... Summary lessons The first rule in investing or trading in a given cryptocoin is deciding if it has a value proposition:
1. *Can it draw fiat currency (USD, Euro, Yuan etc) in such a way as to give it a valuation that is fully independent of pure speculation?* 2. *Is it unique?* 3. *Is it rare?* A limited supply with a low or negative inflation rate will lead to increasing price as demand goes up. 4. Are there significant risks associated with the value proposition?
Many cryptocurrencies on the market are both rare and unique but have no viable non-speculative way of drawing fresh fiat into their ecosystem: I believe these coins are potentiallly more prone to failure in the long term.
Many coins attempt to pass off their value proposition as rarity alone. This is not a unique feature; don't be fooled by one's that claim this either; it is the most common scam in cryptocurrency.
The emergence of regulation in cryptocurrencies is an inevitability that will occur as it's popularity and marketcap grows. Be very aware of the sorts of regulations that could be applied to the cryptocurrencies you invest or trade (including regional and international bans) in and consider carefully the impact of those regulations on that currency's marketcap and price!
There are certain other cryptocurrencies and tokens I haven't mentioned. Mainly due to time and also because I have some reservations about them. I would however encourage you to look at tokens such as Augur (REP), Dash (DASH), Digix (DGD), Waves (WAVES), Factom (FCT), BlockCDN which I believe have interesting value propositions (and thus real long term value) and compare them against other tokens such as eBitz, Xaurum, Potcoin, onecoin and Nav (which have a number of red flags).
In the next article I will cover lesson 3b: Price metrics and valuations. It will be much shorter I promise but equally informative and we will cover topics such as price determination, impact of speculation, price manipulation, whales and their impact and the impact of bitcoin on the entire cryptocurrency ecosystem. Finally just to really hammer it home; why am I posting this on the Shadowcash subreddit? It is because Shadowcash is the best cryptocurrency investment of 2016 and I believe it will be again by March 2017. ... References:
1. Crypto-Currency Market Capitalizations, https://coinmarketcap.com/, Last Checked 30/01/2017 2. What is the value of all the Gold in the world? http://onlygold.com/Info/All-The-Gold-In-The-World.asp, Last Checked 30/01/2017. 3. ICONOMI Cryptocurrencies Index (ICNX) 21 December 2016 Rebalancing, https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-21-december-2016-rebalancing-transformation-into-iconomi-8e31e48493ab#.sptgljv1c 4. ICNx trend chart, https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-30-november-2016-monthly-rebalancing-update-3402866243d9#.kw7g4fqcd, Last updated 30th Nov 2017 5. Shadowcash (SDC) - The billion dollar baby!, https://medium.com/@paradox_/shadowcash-sdc-the-billion-dollar-baby-6b86f0660739#.ypz9yme5a, Last updated 16 August 2016.
... Disclaimer: I am not responsible for your financial decisions, nor am I advising you take a particular financial position. Rather I am sharing my experiences and hoping you form your own opinions and insights from them. Full disclosure: I have long positions in Ethereum (ETH), Shadowcash (SDC), ICONOMI (ICN), Augur (REP) and Digix (DGD).
About the Bitcoin cryptocurrency forecast. As of 2020 October 07, Wednesday current price of BTC is $10612.60 and our data indicates that the asset price has been in an uptrend for the past 1 year (or since its inception).. Bitcoin has been showing a rising tendency so we believe that similar market segments were very popular in the given time frame.. Our site uses a custom algorithm based on ... The Bitcoin Capital Active ETP is designed to offer investors a simple way to access the crypto market. The ETP portfolio is managed by FiCAS AG, the specialised crypto asset management boutique with unrivalled experience in the sector. Top cryptocurrency prices and charts, listed by market capitalization. Free access to current and historic data for Bitcoin and thousands of altcoins. Canadian Ontario based crypto exchange Coinsquare is expanding into European market towards the end of this year. Coinsquare is one of Canada’s principal crypto exchanges and also claims to be the nation’s most secure platform for crypto trading. About Crypto Capital. Few topics in the financial world have generated more interest in the past few years than bitcoin and cryptocurrencies. Crypto Capital Editor Eric Wade is the ideal person to guide you through this new market.Eric is an Internet entrepreneur and investor who began picking stocks and trading futures contracts in college.
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