Winklevoss twins call Ethereum DeFi a "revoltion", scandal ...

Barstool’s Dave Portnoy Is Bad at Trading Cryptocurrency

Dave Portnoy, the online sports celebrity founder of Barstool Sports, might be quitting cryptocurrency trading after buying bitcoin (BTC) and other cryptocurrencies little more than a week ago, according to a tweet published Friday afternoon.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

Barstool’s Dave Portnoy Is Bad at Trading Cryptocurrency

Dave Portnoy, the online sports celebrity founder of Barstool Sports, might be quitting cryptocurrency trading after buying bitcoin (BTC) and other cryptocurrencies little more than a week ago, according to a tweet published Friday afternoon.
submitted by ami_nil1987 to airdropfactory [link] [comments]

The Winklevoss twins have seen about $600 million wiped off their bitcoin wealth in 2 days (FB)

The Winklevoss twins have seen about $600 million wiped off their bitcoin wealth in 2 days (FB) submitted by 18_points to Buttcoin [link] [comments]

Weekly news review (July 6-12)

Weekly news review (July 6-12)
Hello, dear Community!
Are you ready for last week's news review? Say no more!
https://preview.redd.it/gt5gpz5sifa31.png?width=1200&format=png&auto=webp&s=d4e6f35f85a2628d81177083669ac38dfb64eeda
The European Central Bank (ECB) doubled down on its dismissive stance on bitcoin (BTC) July 9, refusing to recognize it as currency in a Q&A session.
“Bitcoin is not a currency, it rather is an asset and it is very volatile,” officials wrote quoting chief economist, Philip Lane.
In May this year, a report dubbed “Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures” concluded the entire phenomenon had little impact on the traditional economy.
Previously, the European Union’s reserve bank had also come out bearish on the idea of issuing a digital currency of its own, in contrast to noises now coming from China and several other states.

Cybersecurity researchers have revealed eye-opening details about a widespread Android malware campaign wherein attackers silently replaced installed legitimate apps with their malicious versions on nearly 25 million mobile phones.
According to researchers at Check Point, attackers are distributing a new kind of Android malware that disguises itself as innocent-looking photo editing, adult entertainment, or gaming apps and available through widely used third-party app stores.
Dubbed Agent Smith, the malware takes advantage of multiple Android vulnerabilities, such as the Janus flaw and the Man-in-the-Disk flaw, and injects malicious code into the APK files of targeted apps installed on a compromised device and then automatically re-install/updates them without the victims' knowledge or interaction.
Researchers initially encountered the Agent Smith malware in early 2019, which was primarily being found targeting Android devices in India (with 15 million infected devices) and other nearby Asian countries like Pakistan, Bangladesh, Indonesia, and Nepal.

Donald J. Trump tweeted Thursday that he is “not a fan” of cryptocurrencies, saying they were “not money” and referencing their price volatility relative to the dollar in his first public comments on crypto since becoming president of the United States.
In his tweets Thursday, Trump took aim at the potential for using cryptocurrencies in illegal activities, citing drug trafficking in particular.
“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he said.

Tyler and Cameron Winklevoss, co-founders of the New York-based crypto exchange Gemini, may soon join the Libra Association, the consortium governing Facebook’s proposed cryptocurrency.
Joining Libra might be a surprise move to some, considering the Winklevoss brothers’ legendary fight over control of Facebook with its CEO Mark Zuckerberg, their former Harvard classmate. But they now want to be “frenemies” with a mutual goal of promoting mainstream crypto adoption.
Plus, the twins are aiming to diversify Gemini’s token offerings by 2020. They recently applied for a broker-dealer license through the Financial Industry Regulatory Authority, which would allow Gemini to list digital securities.
So far, only one crypto exchange, Coinbase, has joined the Libra Association, whose ranks also include traditional financial players such as PayPal, Visa and Mastercard and VC firms such as Union Square Ventures and Andreessen Horowitz. (Crypto custodian Xapo is also a member.)

Bitcoin (BTC) bolstered its already bullish technical setup with a move above $13,000 on Wednesday.
The top cryptocurrency by market capitalization rose to $13,154 in the Asian trading hours, the highest level since June 27, according to Bitstamp data.
With the move to two-week highs, BTC has recovered 85 percent of the sell-off from $13,880 to $9,614 seen in seven days to July 2.

Have anything to say? Make sure to leave your comment in the comments section down below!
submitted by rokkex to Rokkex [link] [comments]

The Internal Revenue Service Takes A Position On Bitcoin


Bitcoin utilized to be something like Schrodinger's currency. Without regulative observers, it might declare to be cash and residential or commercial property at the very same time.
Now the Irs has actually opened package, and the virtual currency's condition is developed - a minimum of for federal tax functions.
The Internal Revenue Service just recently provided assistance on how it will deal with bitcoin, and any other stateless electronic rival. The brief response: as residential or commercial property, not currency. Bitcoin, in addition to other virtual currencies that can be exchanged for legal tender, will now be dealt with most of the times as a capital possession, and in a couple of scenarios as stock. Bitcoin holders who are not dealerships will go through capital gains tax on boosts in worth. Bitcoin "miners," who open the currency's algorithms, will require to report their finds as earnings, simply as other miners do when drawing out more standard resources.
Though this choice is not likely to trigger much turbulence, it deserves keeping in mind. Now that the Internal Revenue Service has actually phoned, financiers and bitcoin lovers can move on with a more precise understanding of what they are (practically) holding. A bitcoin holder who wishes to abide by the tax law, instead of avert it, now understands how to do so.
I believe the Internal Revenue Service is appropriate in identifying that bitcoin is not cash. Bitcoin, and other virtual currencies like it, is too unsteady in worth for it to reasonably be called a type of currency. In this period of drifting crypto exchanges rate, it holds true that the worth of almost all currencies modifications from week to week or year to year relative to any specific standard, whether it's the dollar or a barrel of oil. However an essential function of cash is to function as a shop of worth. The worth of the cash itself ought to not alter dramatically from day to day or hour to hour.
Bitcoin absolutely fails this test. Purchasing a bitcoin is a speculative financial investment. It is not a location to park your idle, spendable money. Even more, to my understanding, no mainstream banks will pay interest on bitcoin deposits in the type of more bitcoins. Any return on a bitcoin holding comes entirely from a modification in the bitcoin's worth.
Whether the Internal Revenue Service' choice will assist or harm present bitcoin holders depends upon why they desired bitcoins in the very first location. For those wishing to benefit straight from bitcoin's variations in worth, this is great news, as the guidelines for capital gains and losses are fairly beneficial to taxpayers. This characterization likewise supports the method some prominent bitcoin lovers, consisting of the Winklevoss twins, have actually reported their incomes in the lack of clear assistance. (While the brand-new treatment of bitcoin applies to previous years, charge relief might be offered to taxpayers who can show sensible cause for their positions.).

For those wishing to utilize bitcoin to pay their lease or purchase coffee, the choice includes intricacy, given that costs bitcoin is dealt with as a taxable type of barter. Those who invest bitcoins, and those who accept them as payment, will both require to keep in mind the reasonable market price of the bitcoin on the date the deal takes place. This will be utilized to determine the spender's capital gains or losses and the receiver's basis for future gains or losses.

While the activating occasion - the deal - is simple to determine, figuring out a specific bitcoin's basis, or its holding duration in order to identify whether short-term or long-lasting capital gains tax rates use, might show tough. For a financier, that may be an appropriate trouble. However when you are choosing whether to purchase your latte with a bitcoin or simply pull 5 dollars out of your wallet, the simpleness of the latter is most likely to win the day. The Internal Revenue Service assistance merely explains what was currently real: Bitcoin isn't a brand-new type of money. Its advantages and disadvantages are various.
The Internal Revenue Service has actually likewise clarified a number of other points. If a company pays an employee in virtual currency, that payment counts as earnings for work tax functions. And if services pay worth $600 or more to independent specialists utilizing bitcoin, business will be needed to submit Types 1099, simply as they would if they paid the professionals in money.
Clearer guidelines might trigger brand-new administrative headaches for some bitcoin users, however they might make sure bitcoin's future at a time when financiers have great factor to be careful." [Bitcoin is] getting authenticity, which it didn't have formerly," Ajay Vinze, the associate dean at Arizona State University's service school, informed The New york city Times. He stated the Internal Revenue Service choice "puts Bitcoin on a track to ending up being a real monetary possession.".
When all bitcoin users can acknowledge and settle on the kind of property it is, that result is likelier.
A minority of bitcoin users saw its previous uncontrolled status as a function, not a downside. A few of them oppose federal government oversight for ideological factors, while others discovered bitcoin a helpful method to carry out illegal company. However as the current collapse of popular bitcoin exchange Mt. Gox showed, uncontrolled bitcoin exchange can cause devastating losses without any safeguard. Some users might have believed they were securing themselves by getting away to bitcoin to leave the greatly regulated banking market, however no policy at all isn't the response either.
The Internal Revenue Service is proper when it states that bitcoin must be dealt with as home. This certainty might protect the future of a property that, while it makes bad currency, may be helpful to those who wish to hold it as home for speculative or industrial factors.
submitted by Aaliyah4563 to Bitcoinshow [link] [comments]

A letter from the future about Bitcoin.

Well gee, this blew up.
Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.
As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.
The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.
Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.
The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
More: https://www.youtube.com/watch?v=SgrUEHe7CZY&t=3s
submitted by chapikla to u/chapikla [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Crypto Industry is Betting Big on the Future of Stablecoins

Crypto Industry is Betting Big on the Future of Stablecoins

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When merchants started introducing bitcoin and similar digital currencies as one of their payment methods, they quickly encountered a significant problem: price volatility.
There were instances like a luxury item dealership, which used to accept bitcoins for their products but saw the value their Ferrari cars jump by almost 33% during a test run. The company, dubbed as The White Company, later joined the popular trend of launching a “stablecoin,” a hybrid of blockchain and fiat money, which promised to protect its balance sheets from subtle influences.

WHAT IS STABLECOIN?

Rather than fluctuating on the whims of traders’ speculation, a stablecoin is a new blockchain-enabled breed that is characteristically pegged to stable real-world assets, from commodities to currencies. For instance, users can purchase one stablecoin for a dollar, and can also redeem it later for the same price, thus eliminating the notorious crypto price swings.
The stablecoin industry became popular in the wake of 2018’s crypto crash. The depression saw the market’s leading cryptocurrencies like Bitcoin and Ethereum losing 80-90% of their capitalization within a year. A majority of retail investors, who were holding these volatile crypto assets, decided to exchange them for stablecoins as a part of their risk management strategy. Once the volatility settled, traders were redeeming their stablecoins for digital currencies, as well as fiat currencies to exit the crypto market on minimized losses.

INBOUND INVESTMENTS

Stablecoins are not exciting as speculative assets, mainly because their backers supply only the portion that they can back against a stable real-world asset. They are highly attractive tools when it comes to retaining the qualities of blockchain-enabled payment networks for, say, remittance and hedging.
The institutional players have begun to realize the potential of stablecoins. As of November, the total investments made into the stablecoin space has touched $3 billion, per Stable Report, a crypto research group. It has led to the introduction of more than 120 stablecoin projects this year.
Winklevoss Twins, for instance, launched a stablecoin for their Gemini bitcoin exchange in September. Circle, a Goldman Sachs-backed crypto group, also partnered with a US bitcoin exchange Coinbase to launch a USD Coin.

DUE DILIGENCE

Almost every new player in the stablecoin market is coming with their audit reports in hand, a record that verifies that the company that intends to issue its stablecoins has sufficient assets to back them. Some coin projects have even introduced features that allow them to freeze or delete coins to tackle money laundering acts.
Popular stablecoin project Tether, meanwhile, has garnered criticism for refusing to get its balance-sheets audited by an independent party. It has enabled a whole new competition to flourish in response, which includes more modern stablecoin projects like TrueUSD, Paxos, and Maker, in addition to Gemini Dollar and USD Coin (as discussed above).
As the regulatory watch improves and companies begin to take due diligence seriously, 2019 could prove to the year of stablecoins. Advocates believe that in the long term, almost all the traditional industries would want to integrate a stablecoin solution.
“Insurance, lending . . . these are some of the categories that could start to grow into the trillions,” Garrick Hileman, head of research at Blockchain crypto wallet company, told FT.
Social media giant Facebook has already announced that it would introduce a stablecoin to power p2p payments on its WhatsApp messenger.
Featured image from Shutterstock.
https://www.ccn.com/crypto-industry-is-betting-big-on-the-future-of-stablecoins
submitted by dForceProtocol to u/dForceProtocol [link] [comments]

Cryptocurrency Investors

Hello! My name is Mihail Kudryashev, I am a frontend engineer at Platinum. We are a an international STO/IEO/ICO/POST ICO consulting, promotion and fundraising company with huge experience in STO and ICO marketing and best STO blockchain platform in the world! Learn more about it: Platinum.fund Our company gained popularity after launching the world’s number one online university with only practical knowledge on crypto economics. Now you can learn how to create and develop your own ICO and STO, how to market your campaign and make it super successful. Who are cryptocurrency investors? What drives people to invest in cryptocurrency? Read the extract of the UBAI lesson to get all the answers.
Introduction to the Investors §2
In 2017, the total cryptocurrency market capitalization was approaching $850B which begs the question:
Why are investors turning to cryptocurrencies?
A survey by Blockchain Capital indicated that at least 30% of millennials would rather invest in bitcoin than invest in traditional stocks. Cryptocurrency investors, like traditional investors, expect a return at least proportionate to the risk they take. Due to the fundamental lack of regulation, incredible volatility and astronomical relative risk, many cryptocurrency investors expect to earn meteoric returns. Returns in the ranges of multiples from 200% to 1000%.
Let us first begin by examining the kinds of people who invest in cryptocurrency, and then let’s see the reasons why each of them is investing in this relatively new market.
Types of Investors
The “Newbie” Cryptocurrency Investor
This investor is just starting out. They probably have not had any significant experience in any form of investing before and bitcoin is their first experience. They have heard about people making incredible returns from cryptocurrency investing, or some aspect of the entire blockchain and crypto revolution attracts them, and they decide they want to invest too.
Unfortunately, most of the newbie investors will end up losing their money, primarily because of one specific misconception; they think cryptocurrency investing is an easy way to make huge profits. “ “Types of Investors §2
“Gambler” or “Get Rich Quick” Investor
This is the second class of cryptocurrency investor, and is actually not really an investor at all.
This type of person is out to make a fortune as fast as possible. They will fall for whatever sweet-sounding scheme they hear. They love ideas that promise to double or triple their investment quickly. Like the Newbie, they do not understand how cryptocurrencies work, and they don’t care. The difference between this kind of investor and the successful individual or professional investor is that the gambler does not care about the management of risk, or about the timing of trades.
They place their money on the table, and they hope it will make a good return. They are gambling rather than creating an investment thesis and executing a well-thought out strategy. They might even have an infectious positive attitude, but unfortunately it is not backed by knowledge or the due diligence required to be a successful investor.
A good example of this style of thinking, outside of cryptocurrency, is high yield investment plans (HYIPs) that promise to multiply an investors capital by a certain factor. This is not to say that all HYIP programs are scams, but a good number of them are. Most importantly, the investors who flock into such plans have similar characteristics to that of the Get Rich Quick investor in that they will not take the time to learn about the field in which they are investing. They are just looking for fast money and an overnight success. “ “Types of Investors §3
Short Term Traders (Day/Swing Traders)
Short term traders must, without a doubt, be the most knowledgeable investors if they are going to succeed at their chosen profession. They have, or they should have, studied the art and science of trading more thoroughly than other people. This is the kind of investor who has taken the time to learn about cryptocurrencies and the markets on which they trade. Short term traders create deliberate and timed strategies in an attempt to profit from fast market movements. Maybe many of the short term traders started off as Newbies, but these are the individuals who took the time and effort to learn about the market. They wanted to know what they were doing. These are the people who survived and thrived to grow into the type of trader that they want to be.
Interestingly, the Day Trader does not attach emotion to any given coin. They do not need to believe in the sustainability/whitepapevision/road map, etc. of the project they are buying into at any particular time. They just need to be confident about the direction and timing of the potential price movement of the coin. “ “Types of Investors §4
Long Term Investors/ Hodlers
A great majority of successful cryptocurrency investors can be most properly classified as Long Term Investors, or HODLers in true crypto terminology. These are investors who understand quite a bit about cryptocurrency and blockchain technology and believe in the sustainability of the coins in which they are investing.
Think of the first few investors who bought bitcoin in the early days and years, when it was still deep under the radar for most people. These are the people who believed in the blockchain and cryptocurrency revolution. They didn’t sell their bitcoin for fast profit, although they had many chances to do so. They knew what they were doing, holding for the long term. These early investors and HODLers enjoyed astronomical growth all the way up to 2016 and 2017. But to be a long-term holder despite all the bad news and negative factors surrounding this brand new asset class, they must have really believed that bitcoin and the blockchain were going to change the world. This belief can only be established through study and research about the blockchain industry and the specific currencies and tokens in which you are going to invest.
Follow up and learn more on www.ubai.co!” “Types of Investors §5
Sophisticated/Professional Investors
These are experts in cryptocurrency investing. They most likely have a background in other forms of trading and investing, such as in stocks, bonds or options etc. They may also be earning fees by investing or managing money for other people.
The Iconomi fund managers are a good example. Each Fund Manager manages an array of digital assets. Investors might choose Iconomi because it offers a platform for the investor to allocate funds to specific fund managers, with the ability to swap between managers instantly if the investor desires to do so.
Each fund manager selects a number of coins in which they wish to trade or invest, with specified time horizons, short or long term. Investors can buy into the array of mutually held coins. This allows investors to utilize the knowledge and experience of professional fund managers to trade an allocated pool of capital, hopefully generating returns greater than the individual investor would be able to produce on his own.
The fund managers are motivated by the fees and commissions they earn, and perhaps a performance-linked bonus. You can certainly be properly classified as a Sophisticated Investor without any need to be a fund manager for other peoples’ money. But a professional fund manager has the ability to trade with a larger pool of capital, manage complicated risk, and diversify trading strategy to generate various streams of income. “ “Between Countries
A particular country’s participation in cryptocurrencies largely has to do with the legal regulations about blockchain projects and crypto currency investment in that jurisdiction.
When China banned the use of cryptocurrency, most Chinese nationals had to withdraw their investments. Many other countries have also placed bans on the use or trade of cryptocurrencies. Countries like Japan that have allowed the use of cryptocurrencies have witnessed a significant rise in cryptocurrency investments as a result. Japan and South Korea are home to several high-traffic cryptocurrency exchanges, meaning that a notable proportion of their population is investing in cryptocurrencies.
Another way to look at cryptocurrency investment demographics is to look at the bitcoin ATMs present in each country. The United States of America is the leading country, followed by Canada and then the United Kingdom.
According to a report by Google trends, the five top countries interested in bitcoin are: South Africa, Slovenia, Nigeria, Colombia and Bolivia.
Remember, cryptocurrency demographics can be a little tricky due to the anonymity involved. Many people may be afraid to participate in surveys, especially when their governments have placed legal restrictions on cryptocurrency investing.
The main point the research seems to validate is that the demographics of the cryptocurrency investor base is diverse. While the average investor may be a white or Asian male between the ages of 26-30 with at least a university degree, the entire investor base is so much larger than that. Many big investors are likely to be significantly older, and have connections and businesses in the traditional economy as well. “ “Notable Investors in Cryptocurrency
While many people have made fortunes from cryptocurrency investing, a handful of them stand out as being particularly remarkable. We will take a more detailed look at some of the biggest investment success stories to see how they did it and learn about their investing strategy.
The Winklevoss Twins
After being awarded their settlement from the lawsuit against Facebook, the Winklevoss twins decided to invest a significant portion of their money in Bitcoin. They invested $11million of the $65million they received. At that time, the price of a single bitcoin was about $120.
This high-risk investment paid off handsomely and they became the first publicly known Bitcoin Billionaires, perhaps owning more than 1% of the total bitcoin in circulation. In an interview with Financial Times in 2016, the twins jointly said that they consider “Bitcoin as potentially the greatest social network because it is designed to transfer value over the internet”. They also pointed out that compared to gold, bitcoin has equal or greater foundational traits of scarcity and portability. “ “Notable Investors in Cryptocurrency §2
Michael Novogratz
A self-made billionaire ex-Goldman Sachs investment banker, Novogratz has invested more than 30% of his fortune in cryptocurrency. In 2015, he announced a $500million cryptocurrency hedge fund, including $150million of his own money. Novogratz believes that “the blockchain, the computer code that underpins all cryptocurrencies, will reshape finance, just as the internet reshaped communication”.
The investment thesis of Mr. Novogratz is similar to that of the Winklevoss twins. He has taken and maintains a long-term position while he trades in and out of short term moves, based on his fundamental belief in the potential and likely application of the underlying blockchain technology. By starting an investment fund in addition to his other cryptocurrency related ventures, he is demonstrating a strong fundamental grasp of the technology, including its applicability and impact across so many industries. Slide
Barry Silbert
In December 2014 after the US Marshal’s office seized 50,000 bitcoins from the Silk Road, Barry Silbert purchased just 2,000 of those bitcoins at $350 per coin. A few years later of course, those coins were worth millions of dollars.
Barry is the founder and CEO of the Digital Currency Group (DCG) a cryptocurrency investment firm. Barry also made significant profits from Ethereum Classic, purchasing the coin in its very first days. He has invested in over 75 bitcoin related companies, including CoinDesk. As founder of the Digital Currency Group, Barry endeavors to support bitcoin and blockchain companies and accelerate the development of the global financial system. “ “Directly through Exchanges
Step One: Register on a reputable cryptocurrency exchange
To start investing, you first need to register on a reputable cryptocurrency exchange where you can buy bitcoin and other cryptocurrencies. Binance is a good exchange to use in this lesson. While it may or may not be the best, it is currently the largest, and they provide a very supportive layout and customer service department.
You should remember, to buy most altcoins (cryptocurrencies other than bitcoin), you specifically need to use an exchange like Coinbase or Kraken that allows you to convert fiat currency into cryptocurrency. From there, if you want to trade altcoins not listed on that exchange, you will have to transfer your BTC or ETH to a larger exchange like Binance, and buy the altcoin you want, using whichever trading pair that is best suited (BTC and ETH pairs are most common).
As we have already explained, if you are buying Bitcoin or any cryptocurrencies, you should invest in a wallet to safely store your coins. It is not advisable to store your BTC or other crypto on the exchanges for too long, due to hacking and other risks. “ “Directly through Exchanges
Step Two: Determine your Strategy
There are different ways to invest. You need to find a strategy that works for you and your specific set of skills. The value of a cryptocurrency is not defined by a formula or something out a textbook. If everyone was able to calculate the actual value of a share of stock, for example, or a bond, or other tradeable asset, then the price on an open market exchange would never move. Buyers and sellers would know exactly how much the asset is worth, so there would be no reason to sell lower or buy higher than the actual value.
You need to come up with your own ideas and strategies to take advantage of market moves. Sometimes you will have a position that is contrary to the general market. Other times you might be trading in agreement with a majority of other market participants. Investors are basically separable into one of two groups of thinkers. Contrarian investors go against the crowd, swimming against the current; Momentum investors ride the wave feeling secure in the majority. Being different can be good or it can be bad. You do not always want to necessarily get caught up in the most crowded trade. “ “Things to keep in Mind
Bitcoin Futures
We need to mention the bitcoin futures market as another potential way to invest. Toward the close of 2017, Bitcoin started trading on two fully recognized and well-established futures markets; the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange CME.
The key quote from the exchanges was “because the futures can be traded on regulated markets, it will attract investors, making the market liquid, stabilizing prices and it will not suffer from low transaction speeds of Bitcoin Exchanges.”
For a risk averse investor, this offers a safer entry into cryptocurrency investing. A futures contract commits its owner to buy or sell the underlying asset, BTC, at a set price, and at a set date in the future. The investor in the futures contract does not actually own the underlying asset, but rather is trading on fluctuations in the price of the asset over a certain timeframe, as specified in the futures contract. “ “Things to keep in Mind §2
Common Pitfalls We cannot conclude this lesson without one more look at the common pitfalls a new cryptocurrency investor should avoid.
The problem areas are: -Falling for scams by failing to carry out due diligence. -Relying solely upon self-acclaimed crypto gurus and experts. If you want to trade, you must understand how to read news and charts for yourself. -Too much Greed. Not taking profit when you should. It is better to take a 20% gain, than wait for a 100% gain, only to lose it all in the end. -Lacking an investment strategy or exit plan. -Not sticking to your investment plan or strategy. -Allowing emotions to rule your decisions. Chasing your losses. -Investing what you cannot afford to lose.
And finally, some time-tested wisdom from Wall Street: Bulls make money. Bears make money. Pigs get slaughtered every time. (Don’t be greedy!)
We cannot overemphasize the risk involved in cryptocurrency investing. The potential to make huge gains over a short period of time does not come without risk. There is no doubt that significant players in the global financial markets are entering the cryptocurrency markets too. We are likely to witness more and more government authorities trying to regulate cryptocurrencies, hopefully to the overall benefit of a healthy market. It seems safe to say we will see cryptocurrencies become more mainstream due to the intense interest from the traditional financial industry and institutional investing community all over the world. What are better ways to successfully invest in cryptocurrencies? Which pitfalls should you avoid? Learn all on successful ICOs and STOs after reading the full lesson: UBAI.co How to start your STO/ICO campaign in 2019? Contact me via Instagram, Facebook, LinkedIn to know more about our education: Facebook LinkedIn Instagram
submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

https://www.cryptobitcoinsguide.com/crypto-infographic

Crypto Infographic : Whether or not the IRS’ decision will facilitate or hurt current bitcoin holders depends on why they wanted bitcoins in the first place. For those hoping to profit directly from bitcoin’s fluctuations in value, this can be good news, as the principles for capital gains and losses are comparatively favorable to taxpayers. This characterization also upholds the method some high-profile bitcoin enthusiasts, as well as the Winklevoss twins, have reported their earnings within the absence of clear guidance.
submitted by walterunders to Bitcoin [link] [comments]

I am a time-traveler from the future, here to beg you to stop what you are doing.

Update, 27 oktober 2019:
Well gee, this blew up.
Bitcoin should not be treated as an investment, it should be recognized as a speculative negative-sum game. The Bitcoin system currently consumes an estimated 3.6 billion dollar worth of electricity on an annualized basis, just to update the ledger that contains a record of everyone's transactions. This enormous consumption of electricity is indirectly paid for by people who invest their savings in Bitcoin, as a consequence, money is continually "leaking" from the system.
As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.
The Bitcoin developers responsible for updating the protocol appear to have no genuine intention to introduce code changes that reduce the ecological damage caused by Bitcoin mining, so my suggestion has to be to sell your Bitcoins, which indirectly has the effect of reducing the ecological damage caused by Bitcoin mining.
Theft and loss of coins are also enormous problems affecting Bitcoin, so although it is theoretically possible to store your coins in a safe manner, history has shown that a lot of people will simply lose their coins, further illustrating why Bitcoin is not a good investment option.
The other cryptocurrencies share most of Bitcoin's flaws (resource waste, no protection against theft or loss, vulnerable to market manipulation, etc), but most importantly, what sets cryptocurrencies apart from proper investments is that these coins don't produce anything. If you invest in a company, that company can use the money to deliver more products. If you buy, silver, gold, bitcoin or beanie babies, you're hoping someone else will come along one day and pay more money for it. History has shown that people who invest money in the stock market will generally end up witnessing much higher returns than people who buy gold.
With that said, I hope this story has entertained you and helped you recognize some of the problems our society would face if we ever witnessed widespread adaption of Bitcoin or similar digital currencies.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.
If you don't believe me, please move on, as I have no way of proving to you I'm really who I claim to be.
I don't want to waste any of your time, so I'm merely going to explain what happened.
On average, every year so far, the value of Bitcoin has increased by about a factor ten. From 0.1 dollar in 2010, to 1 dollar in 2011, to 10 dollar in 2012, to 100 dollar in 2013. From now on, there's a slight slowdown, as the value increased by a factor ten every two years, to 1,000 dollar in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.
There are just over 19 million Bitcoin known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we're still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That's right, most of you reading this today are rich. I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a "faggot" when he was a 16 year old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything and went to a Citadel.
"What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar, services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.
In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering "rogue states" like Luxemberg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation's "Snowdens" are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer - 50,000 Bitcoin
-The IMF's "currency stabilization fund" - 70,000 Bitcoin
-Government of Saudi Arabia - 110,000 Bitcoin
-The North Korean government - 180,000 Bitcoin
Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don't do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapse so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.
What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.
Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have been also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of "Bitcoin rich" actually physically tortured someone to get him to spill his password.
Why didn't we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give into our greed.
In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There's a reason for this. It's a very sensitive issue that today is generally referred to as "the tragedy". The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin. Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until "the tragedy" that is. A criminal organization, believed to be located in Russia, exploited a hardware fault in the government issued cell phones. It's believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours. What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world's major superpowers due to their authoritarian political system's unique ability to adapt to the "Bitcoin challenge", divided most African land between themselves and were praised as heroes by the local African population for it.
You might wonder, what is our plan now? It's clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, who seek to launch a coordinated attack against the very infrastructure of the Internet itself. We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world. We believe that the resulting chaos will allow the world's population to rise up in revolt, and destroy as many computers out there as possible, until we reach the point where Bitcoin loses any relevance.
Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.
This is also the reason we contacted you.
It doesn't have to be like this. You do not have to share our fate. I don't know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.
However, I have seen where it ends.
submitted by Luka_Magnotta to Bitcoin [link] [comments]

Bitcoin Price Stabilizes: Market Recovery Expected After Flurry of Positive News

Bitcoin has found stability in the low range of $6,300 to $6,400, demonstrating decent volume at around $3.8 billion and pushing its dominance index to 56.1 percent.
Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due to the struggle of ETH, the native cryptocurrency of Ethereum, to recover beyond the $200 mark.
Positive News From EU, Nasdaq, Citigroup, Winklevoss Twins
The crypto sector has had arguably one of the best weeks in its nine-year history pertaining to institutionalization and regulation.
Over the past three days, Valdis Dombrovskis, vice president of the European Commission, said that cryptocurrencies will co-exist with the financial system, Nasdaq is preparing to release a crypto analytics tool for investors, Citigroup has shared its plans to support crypto custody, and Winklevoss twins-led Gemini has launched the first fully audited and licensed stablecoin in the market, called Gemini dollar (GUST).
The recognition of the cryptocurrency sector and the market’s growth throughout this year by the European Commission and a high ranking official in Dombrovskis is crucial for the long-term growth of the European cryptocurrency and blockchain sector.
For many years, Europe has struggled to show real momentum in market growth and cryptocurrency trading volume, falling behind the US, South Korea, and Japan. As of current, the daily trading volume of the crypto exchange market in South Korea remains bigger than the volume of all European nations combined.
But, positive comments from the European Commision and the optimistic approach towards industry regulation as seen in France will increase the probability of the European market challenging other dominant markets in the global sector.
“We also had a good exchange of views on crypto-assets. We see that crypto-assets are here to stay. Despite the recent turbulence, this market continues to grow,” vice president Dombrovskis said.
The release of GUSD has also been well accepted by the cryptocurrency community, as the dominance of Tether (USDT) over the cryptocurrency market since its launch in 2017 has sparked controversial debates within the community regarding the legitimacy of the market.
Experts have said that the fully audited and licensed stablecoin of Gemini will increase the legitimacy of the market and further improve its infrastructure.
No Impact on Price
In a bull market, any one of the developments the cryptocurrency sector has seen this week would have caused the price of major cryptocurrencies including Bitcoin to surge rapidly.
However, the cryptocurrency market is still in the process of bottoming out in a low price range and the past weeks have shown that the market remains unaffected by both negative and positive developments in the space.
Rather, the price of major cryptocurrencies has been driven solely by the market, as obvious it may sound. The announcement of Bakkt had virtually no impact on the price of Bitcoin and Ethereum, even though it was characterized as one of the most positive developments in the cryptocurrency sector in recent years.
In the upcoming weeks, stability in the market will likely continue, as it had done throughout August 6 to August 28. But, positive developments will contribute to the next mid-term rally, as the market establishes strong infrastructure to support large-scale institutional investors.
submitted by bitcoin4umy to CryptoCurrencies [link] [comments]

SWISSBORG´S DAILY INSIDER - WEEK 30

SWISSBORG´S DAILY INSIDER - WEEK 30
https://preview.redd.it/2o6fzgk13vb11.png?width=1000&format=png&auto=webp&s=9ff61771588340c89bf7a946112beadb4f5443d1

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Friday, 27. July 2018

Crypto ETF Rejection Sends Bitcoin Price Below $8,000 The bitcoin price fell below the psychologically-significant $8,000 mark afte the SEC rejected a cryptocurrency ETF application.
Uber Co-Founder, E*Trade Vet Launch Zero-Fee Cryptocurrency Trading Platform Uber's first chief technology officer and a former executive at stock brokerage E*Trade have teamed up to launch a zero-fee cryptocurrency trading platform.
Binance Prepares to Enter the South Korean Market - Bitcoin News Binance is preparing to expand into South Korea, having already hired Koreans for some local positions. However, the exchange is reportedly waiting for the country’s crypto regulatory framework to be fine-tuned before actually launching
SwissBorg Referendum
Join us VOTE & get rewarded !!
Daily Performances
BTC was holding steady above 8000 until today. SEC rejected the proposed BTC EFT by the Winklevoss Twins for the second time. At the time of writing BTC dropped below 8000, dragging the entire market down. The next day or two will be a test to see the market shakes the news off in expectation of more positive news, or return to summer doldrums.
Weekly Top 5 Price comparison
- BTC. - ETH - XRP - BCH . - EOS
https://preview.redd.it/tbzy37hmwic11.png?width=1045&format=png&auto=webp&s=d84ac53f0a6f2c4f02bd0ee634d885d82c7b09c5
Technical Analysis - BTC
BTCUSD has broken the descending triangle on the upside on heavy volume. This is a very positive development and indicative of a strong uptrend over the next weeks and months. While it might have a consolidation or even a minor correction in the near term as it is short term extended we don't see any major resistance until $10,000
https://preview.redd.it/taxtu6uowic11.png?width=1313&format=png&auto=webp&s=6f8121ef25551d0e19cac17b5bf4433a1470a1dc
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Wednesday, 26. July 2018

MetaMask Browser Extension Pulled From Google Chrome Store for 5 Hours, ‘Unsure’ of CauseMetaMask, was pulled from the Google Chrome Web Store on, July 25th. The app has since been listed again five hours later.
U.S. CFTC Chair: We Need to Test Blockchain Because We Are ‘Four Years Behind’The chairman of US emphasized the need for the appropriate procedures that would enable the CFTC to examine innovative blockchain tech for potential future use cases.
Decentralized Exchange Waves Scored a $6 Million Debut. Then It Got HackedThis booming crypto platform could hardly be described as institutional, but it isn't fully decentralized either.
SwissBorg Referendum II Updates
Join us VOTE & get rewarded !!
Vote now: https://vote.swissborg.com
SwissBorg Referendum II Partial Results (Unofficial)
Referendum data done by a community member #WeAreSwissBorg Source: https://www.cryptalloc.com/rsb2
Daily Performances
BTC dominance by market capitalization in the total crypto market posted its highest level yesterday, passing 47% for the first time. The cryptocurrency market cap crossed a major, surpassing the $300 billion for the first time since mid-June amid growing optimism that the bitcoin price is entering a new bull cycle.
Weekly Top 5 Price comparison
- BTC. - ETH - XRP - BCH . - EOS
https://preview.redd.it/rh1muu9nk9c11.png?width=1064&format=png&auto=webp&s=010ffe6a44ae262798331da8d21f68c7facea816
Technical Analysis - BTC
BTCUSD has broken the descending triangle on the upside on heavy volume. This is a very positive development and indicative of a strong uptrend over the next weeks and months. While it might have a consolidation or even a minor correction in the near term as it is short term extended we don't see any major resistance until $10,000
https://preview.redd.it/cf1su4ouk9c11.png?width=1023&format=png&auto=webp&s=7c079f1a14659d698ed9e26deb3754feaea70923
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Tuesday, 25. July 2018

SEC Delays Ruling on Five Bitcoin ETF ApplicationsThe U.S. Securities and Exchange Commission has delayed ruling on five bitcoin ETF applications filed by fund provider Direxion.
Institutional Investors Swap Bitcoin Futures for Physical BTC in Wall Street First Two institutional investors completed the first-ever exchange for physical (EFP) transaction involving bitcoin futures.
Tezos Hires 'Big Four' Firm PwC to Conduct External Audit"Big Four" financial firm PwC Switzerland will audit the Tezos Foundation.→ Japanese Exchanges Push for Limit on Cryptocurrency Margin TradingAn industry self-regulatory organization formed by crypto exchanges in Japan is proposing a limit on how much investors can borrow in margin trading
SwissBorg Referendum II Partial Results (Unofficial)
Join us VOTE & get rewarded !!
Referendum data done by a community member #WeAreSwissBorg Source: https://www.cryptalloc.com/rsb2

VOTE NOW: https://vote.swissborg.com

Daily PerformancesBTC dominance by market capitalization in the total crypto market posted its highest level yesterday, passing 47.10% for the first time. The move comes as sentiment surrounding Bitcoin in particular continues to improve after BTC/USD jumped in excess of 15% over the last five days. At the same time, the other cryptocurrencies have struggled to achieve similar gains, posting losses against Bitcoin.
Weekly Top 5 Price comparison - BTC. - ETH - XRP - BCH . - EOS
https://preview.redd.it/axdkbd6ey2c11.png?width=1064&format=png&auto=webp&s=c613a48f15c04b443cf15dcd633f3b8535ff7489
Technical Analysis - BTC
BTCUSD has busted through the 100 SMA dynamic resistance, so there’s some bullish momentum building up. BTC is ready to test the 200 SMA dynamic resistance around $8,500 next. This is near a former support turned resistance level at the $9,000 barrier.A move past this level could lead to a test of the $10,000 major psychological level. Stronger bullish pressure could take BTCUSD to the next ceiling close to $12,000. However, RSI is indicating overbought conditions already, which means that seller's wave is taking over.
https://preview.redd.it/envy8vfsy2c11.png?width=1332&format=png&auto=webp&s=6703efe0e2aa16be704f9b799885bd28ec4ba5f7
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Tuesday, 24. July 2018

Someone Tried to Hack Etherscan [Using the Comment Section]Ethereum block explorer Etherscan has thwarted a hacking attempt in which the attacker attempted to use the comment section to serve up malicious code.
China’s ‘Dream City’ Taps Ethereum Dev. Studio ConsenSys for Blockchain PushGovernment officials in Xiongan New Area have announced a partnership with Ethereum development studio ConsenSys to develop blockchain initiatives for China’s “dream city.”
UK Central Bank Says New Payments System Will Be Blockchain FriendlyThe Bank of England confirmed it is going to update its Real-Time Gross Settlement system to potentially interact with blockchain-based forms.
A New Bitcoin Wallet Fulfills an Old Privacy PromiseThese cypherpunk crypto wallet projects want to bring fungibility to bitcoin.
SwissBorg Referendum II Partial Results
Referendum data done by a community member (Draazzzz) #WeAreSwissBorg
Source: https://www.cryptalloc.com/rsb2
VOTE NOW!
https://vote.swissborg.com
Daily Performances
BTC dominance by market capitalization in the total crypto market posted its highest level yesterday, passing 46% for the first time. The move comes as sentiment surrounding Bitcoin in particular continues to improve after BTC/USD jumped in excess of 15% over the last five days. At the same time, the other cryptocurrencies have struggled to achieve similar gains, posting losses against Bitcoin.
Weekly Top 5 Price comparison
- BTC. - ETH - XRP - BCH . - EOS
https://preview.redd.it/8rvz3sr24vb11.png?width=1058&format=png&auto=webp&s=903e46fe354b3851b5ea69851777b3139d8073ce
Technical Analysis - BTC
BTC has now broken the Head & Shoulders neckline at $6,750 and has rapidly moved past beyond it. The target of the formation is around $7,900 so we expect to reach that level in the next days/weeks. This is very positive overall on a medium to longer term perspective, the next major hurdle is the $8,000 level, where BTCUSD will meet a downtrend that has proven difficult to surpass last time.
https://preview.redd.it/08g9qmz54vb11.png?width=1326&format=png&auto=webp&s=4ee7c329ea9a151fb7b66afd1945149a9c0b3a68
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Monday, 23. July 2018

Mastercard Files Patent for Payment System Linking Blockchain Currency, Fiat AccountsMastercard has filed a new patent for a payment system linking blockchain-based currency accounts with fiat accounts.
Hedge Fund Billionaire & Citadel Founder Ken Griffin Blasts BitcoinKen Griffin openly expressed his opinion against the digital assets. While Griffin’s words may be turning a few heads, this is not the first time the billionaire spoke ill of cryptocurrency.
Coinbase Forms Political Action Committee Amid Uncertain Regulatory ClimateCoinbase has become the first crypto industry organisation in the USA to form a Political Action Committee (PAC). → An $8 Million ICO Ran Out of Tokens. What's Next Is Anyone's GuessWhat can a blockchain startup do when it runs out of its own tokens? According to U Network, buy back tokens from its ICO investors.
Referendum II Started!
https://preview.redd.it/vyoludsa3vb11.png?width=1200&format=png&auto=webp&s=c7636ce1ef7054407504b2ce55f25fb8a153bdcf
Daily Performances
Not a whole lot to report over the weekend in crypto land. Markets are up marginally creeping above $280 billion again but with little direction for future momentum. BTCUSD has moved back towards its resistance level of $7,400, pushing slightly above it with a 1.7% gain to $7,450. If buyers continue throughout the day there could be another rally up towards $8k. ETHUSD has been sluggish over the past few days with minor gains keeping it just above $465.
Weekly Top 5 Price comparison
- BTC. - ETH - XRP - BCH . - EOS
https://preview.redd.it/ap27avxe3vb11.png?width=1042&format=png&auto=webp&s=95c02a64a10191476c09f1d0fbdc5d79e3c59622
Technical Analysis - BTC
BTC has now broken the Head & Shoulders neckline at $6,750 and has rapidly moved past beyond it. The target of the formation is around $7,900 so we expect to reach that level in the next days/weeks. This is very positive overall on a medium to longer term perspective, the next major hurdle is the $8,000 level, where BTCUSD will meet a downtrend that has proven difficult to surpass last time.
https://preview.redd.it/em0l04pi3vb11.png?width=1310&format=png&auto=webp&s=20b55b7f48ed529c895fd5ae6ac7e08014c2217c
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Disclaimer: Insider aims to provide our community with updates and information regarding financial markets and the blockchain world.This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice.Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes.
Copyright © 2018 SwissBorg, All rights reserved
submitted by Otilia_SwissBorg to swissborg [link] [comments]

Bitcoin Price Stabilizes: Market Recovery Expected After Flurry of Positive News

Bitcoin has found stability in the low range of $6,300 to $6,400, demonstrating decent volume at around $3.8 billion and pushing its dominance index to 56.1 percent.
Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due to the struggle of ETH, the native cryptocurrency of Ethereum, to recover beyond the $200 mark.

Positive News From EU, Nasdaq, Citigroup, Winklevoss Twins

The crypto sector has had arguably one of the best weeks in its nine-year history pertaining to institutionalization and regulation.
Over the past three days, Valdis Dombrovskis, vice president of the European Commission, said that cryptocurrencies will co-exist with the financial system, Nasdaq is preparing to release a crypto analytics tool for investors, Citigroup has shared its plans to support crypto custody, and Winklevoss twins-led Gemini has launched the first fully audited and licensed stablecoin in the market, called Gemini dollar (GUST).
The recognition of the cryptocurrency sector and the market’s growth throughout this year by the European Commission and a high ranking official in Dombrovskis is crucial for the long-term growth of the European cryptocurrency and blockchain sector.
For many years, Europe has struggled to show real momentum in market growth and cryptocurrency trading volume, falling behind the US, South Korea, and Japan. As of current, the daily trading volume of the crypto exchange market in South Korea remains bigger than the volume of all European nations combined.
But, positive comments from the European Commision and the optimistic approach towards industry regulation as seen in France will increase the probability of the European market challenging other dominant markets in the global sector.
“We also had a good exchange of views on crypto-assets. We see that crypto-assets are here to stay. Despite the recent turbulence, this market continues to grow,” vice president Dombrovskis said.
The release of GUSD has also been well accepted by the cryptocurrency community, as the dominance of Tether (USDT) over the cryptocurrency market since its launch in 2017 has sparked controversial debates within the community regarding the legitimacy of the market.
Experts have said that the fully audited and licensed stablecoin of Gemini will increase the legitimacy of the market and further improve its infrastructure.

No Impact on Price

In a bull market, any one of the developments the cryptocurrency sector has seen this week would have caused the price of major cryptocurrencies including Bitcoin to surge rapidly.
However, the cryptocurrency market is still in the process of bottoming out in a low price range and the past weeks have shown that the market remains unaffected by both negative and positive developments in the space.
Rather, the price of major cryptocurrencies has been driven solely by the market, as obvious it may sound. The announcement of Bakkt had virtually no impact on the price of Bitcoin and Ethereum, even though it was characterized as one of the most positive developments in the cryptocurrency sector in recent years.
In the upcoming weeks, stability in the market will likely continue, as it had done throughout August 6 to August 28. But, positive developments will contribute to the next mid-term rally, as the market establishes strong infrastructure to support large-scale institutional investors.
submitted by bitcoin4umy to crypto_currency [link] [comments]

Here's why you shouldn't believe 'safe haven' claims about Bitcoin

The sharp rise and subsequent fall in Bitcoin’s value places it among the greatest market bubbles in history. It has outpaced the 17th-century tulip mania, the South Sea bubble of 1720, and the more recent Japanese asset price and dot-com bubbles.
The rapid price rise garnered attention from an increasing number of academics and investment advisers. Some have suggested that Bitcoin improves portfolio performance and can even be used as a potential “safe haven” asset in place of gold.
Our work finds that much of this research is flawed and overlooks some important attributes that any investor should consider before allocating funds to such a speculative investment.
This is particularly relevant if investing in Bitcoin is rationalised as a prospective safe haven in times of market turmoil.

Hard to value

The first attribute investors consider is how to value Bitcoin. Typically, assets are valued based on the cash flows they produce. Bitcoin lacks this property.
This leads to ongoing debate as to the true value of Bitcoin and other cryptocurrencies. Some, such as the Winklevoss twins and other Bitcoin entrepreneurs, believe the price will soar far higher. Others, including Nobel prize winner Eugene Fama and esteemed investor Warren Buffett, believe the real value is closer to zero. Another Nobel winner, Robert Shiller, suggests the correct answer is “ambiguous”.
There is even wide variation in price across the various Bitcoin exchanges. This is common in fragmented markets and makes it difficult for an investor to find the best market price at any point in time – a process called price discovery.

High price volatility

Bitcoin prices also have a high level of variation (volatility) when compared to other possible investments including bonds, stocks and gold. Even tech stocks such as Twitter, which are considered relatively volatile, are found to have less price variation. This adds to the difficulty investors face when trying to value Bitcoin and any portfolios that contain it.
This is of particular concern given the large daily losses that Bitcoin has experienced in its relatively short life. The largest one-day decline experienced by the popular S&P500 index since 2011 is 4.2%. Bitcoin has had nearly 200 days that were worse (and over 60 days worse than the biggest decline in the gold price of 10.2%).
Put another way, Bitcoin has had 200 days worse than the worst day on the stock market. This hardly seems like an enticing investment for most.

Low liquidity

Investors should also consider the ease with which they are able to buy and sell any assets in which they invest. One method used to measure this liquidity attribute is the bid-ask spread – the difference in the price at which one is able to buy and sell the asset.
More liquid assets have a narrow bid-ask spread. Bitcoin’s bid-ask spread varies from one exchange to another, but in general it is much larger than for other assets.
While bid-ask spreads provide one measure of implicit trading costs, investors also consider the explicit transaction fees they are charged when trading. Transaction fees for trading traditional investments are typically well known and have trended down over time.
While Bitcoin fees have recently declined, they have proven to be highly variable, ranging from over $30 to under $1. The time taken to process a transaction can also be greater than 78 minutes. This is much longer than for stocks or bonds and creates another layer of uncertainty for investors.

Only for the most risk-loving

Bitcoin is harder to value, more volatile, less liquid, and costlier to transact than other assets in normal market conditions. Potential investors should be wary and carefully consider whether such highly speculative assets are appropriate additions to any portfolio.
Given safe havens are typically in demand during financial crisis, when markets are more volatile and less liquid, it is highly unlikely that Bitcoin is even worth considering as a safe-haven asset.
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A few thoughts - Friday, July 18, 2014

Good afternoon! Yesterday was the darkest day in at least the recent history of bitcoin, perhaps ever. I'll get into why yesterday was more significant than Mt. Gox and China later, but the end point of this post is going to be that these proposed regulations are a breathtaking expansion of government power into areas of commerce that have never traditionally been regulated. If this passes, we may well find ourselves fighting against bitcoin acceptance.

Some basic truth about The Law

First, it's important to eliminate a common misunderstanding in /bitcoinmarkets. Some users are arguing that this law (lowercase letters) isn't that bad because while it covers a broad range of activity, it is only intended as a tool to fight money laundering (or some other goal, depending on the user). People need to understand that the long arm of The Law (capital letters) does not care what laws were actually intended to do. You either violate them, or you do not. A judge isn't going to allow a business to operate based on the argument that this law was intended for a different purpose.
As you make your evaluation of the effects of this law, you need to consider every possible activity that could be illegal under it. You can't write off certain activities because they were unintentionally added to the law. The Law is not compassionate and does not allow people to get away with things because the creators were trying to prevent some other behavior. There are many examples of poorly-designed laws that have had devastating unintended consequences.

Some examples

Now that we are clear that the intent of the law doesn't matter, I thought it would be worth sharing how a few examples of bitcoin-related activities in New York will work. This section includes three rows each. The first is the activity, the second is an example of what I would consider some reasonable regulations, and the third is the actions needed for compliance under this law. Since there are an absurd number of requirements for each case, I only listed one or two of the most ridiculous for each.
Activity: Operating a tipping bot that sends $0.25 tips to residents of New York that holds balances
Reasonable: Require the tips to be backed with 100% reserve in the tipped currency
Lawsky: Collect personally identifiable information about all people ever tipped, retain it for 10 years, and submit paperwork to the department when tips qualifying as "suspicious activity" are sent
Activity: Changing a variable in the bitcoin code and creating a new blockchain for testing a proposed feature
Reasonable: No regulation
Lawsky: Register with the NYDFS, payi thousands of dollars, wait 90 days, and undergo a background check with the FBI
Activity: Operating the Elgius mining pool, which adds PPLNS payouts to its own blocks, so that users never have outstanding balances
Reasonable: Allow people to take civil action if their payouts don't match what they are owed
Lawsky: Register as a money transmission service, develop compliance programs, and conduct "intrusion prevention" tests against the nonexistent wallets
Activity: Running a business like blockchain.info, which does not hold any balances whatsoever in dollars and pays all employees and vendors in bitcoins
Reasonable: Require recordkeeping of profits and expenses similar to current laws
Lawsky: This business model is expressly prohibited; no business is allowed to take profits in bitcoins
Activity: Operating an altcoin exchange, which takes untraceable litecoins and exchanges them for untraceable nanotokens
Reasonable: Prohibit fractional reserve banking and require that reserves be kept in the currencies they are backing
Lawsky: Requires altcoin exchanges to back its reserves in dollars and to associate every altcoin address with a username. If there is a bubble, the business goes under because it is no longer able to back customers' deposits.
Activity: Being a one-time arbitrator, where two parties trade something and use a multisignature transaction with you as the decider in the case something goes wrong
Reasonable: At most, require background checks on the arbitrator to verify his integrity
Lawsky: File paperwork with security plans, a list of anyone who might help you with collecting evidence to make the decision (even if you are never called upon to do so), and obtain background checks and fingerprints for all of them; pay thousands of dollars to register, wait 90 days to be approved, file suspicious activity report if the transaction is over $3k regardless of whether you are called upon to arbitrate or not
Activity: Modify your mining pool's pay-per-share algorithm to prevent block withholding attacks, or introduce a new algorithm like PPLNS, without branching out into other business areas
Reasonable: No paperwork necessary
Lawsky: File new request with the Department and wait 90 days for the new model to be approved before rolling out the feature, while competitors in other states launch immediately

Businesses no logner possible to be served to New York residents

In addition to the regulation requirements, there are also some types of business models that simply cannot overcome the regulations at all. Here are some of those types of businesses:
Arguably, the following business types could also not operate in New York because of cost concerns:
The greatest problem with these regulations is simply that there is no clause for the amount of money the company has to control. While we plan to take all possible security measures, our pool's greatest security measure is that we automatically pay out balances that are too large, so that we will never owe more than $10k in customer funds. If there were to be a hack, then we would simply eat the cost of less than $10k from personal funds because it is a small amount. The reason this works is because it would cost more than $100k to provide the sort of professional infrastructure that Lawsky is requiring, so even if the site were hacked ten times, and even if we never fixed the security holes, we would still be ahead.
That's why this legislation is irreparably flawed and cannot be salvaged. It makes sense for people holding a billion dollars to be subject to strict regulations. It is nonsensical to require people who hold $5k in customer funds to spend $200k/yr in compliance measures, given that taking 40 hacks are still preferable to such ridiculous regulations.

The likely outcome of these regulations is less protection

Now that we know the local effects on certain types of businesses, we should ask what the end result is going to be a year from now, should these regulations not be completely overhauled. I propose that the end outcome of these regulations is going to be less consumer protection and more crime. The only businesses able to operate in New York will be huge banks and hedge funds. While the banks charge excessive fees and rip customers off, they already are far more trustworthy than Mark Karpeles ever was. They already practice good security anyway because they understand (unlike Mt Gox) that customer service is important. The law isn't going to have much impact on them. Furthermore, these guys aren't even into the bitcoin business yet, so (at least at first), the only people the law effects are the small guys.
Meanwhile, everyone else other than the banks is going to do exactly what we may be forced to do: milk the system by applying for licenses and waiting as long as possible, and then, on the day before compliance is required, ban New York residents from our service and avoid doing business with anyone in New York. However, it will be impossible for us, or anyone else, to eliminate every single New York resident from our system no matter how hard we try or how good our intentions are. Because there is no minimum funds limit, New York residents are going to find that they are excluded from the use of nearly every altcoin, mining pool, exchange, open source project, wallet service, auction site, escrow system, and so on.
They key here is that by making the regulations too hard to comply with, every site is going to be equalized. If the cost of compliance were low, then honest businesses would have no problem complying. When the cost of compliance is high, there is no distinction between honest and scam businesses because New York residents will have to do business illegally. This leads to more scams and losses of money. Whereas now a New York resident who uses a service available in New York can sue the provider of a scam, they have no recourse in this proposed new world. After all, the New York resident was engaging in illegal activity by using a non-licensed business. This allows scammers to directly target people who live in New York because they have fewer legal protections than do people who live in other states.
I'm very glad that I do not live in New York right now, and I actually feel sorry for what those who have been in bitcoins since the beginning and who live in New York are going to be unable to take part in the future.

About money laundering

One of the reasons we got into this mess is because the Federal government ignored consumer protection. While they were issuing regulations about money laundering, people like Mark Karpeles were able to take advantage of a complete lack of attention to consumer protection. The Federal government wasted millions of dollars in its cases against bitcoin_charlie, who is not accused of stealing any money or participating in any violent behavior, while ignoring real consumers who were being ripped off by exchanges operating as fractional reserves like Mt Gox and Vircurex. BenLawsky is now able to seize upon the Federal government's inaction and make himself look like a hero of consumer protection because New York will do what the Feds didn't do.
Proponents of anti-money laundering regulations argue that terrorists have been significantly hindered by restrictions in moving money. Terrorism is a great excuse for many things. Consider the case of airport x-ray screening devices. Every time a person goes through one of those devices, he has a 1 in 30 million chance of developing cancer as a direct result of the x-ray exposure pushing that person over the cumulative radiation exposure threshold at which cancer would develop. The risk of dying in a terrorist attack on the plane before the machines were installed was also about 1 in 30 million. Therefore, we spent hundreds of millions of dollars on machines that kill as many people as the terrorists do. Not only that, but anyone would rather die in a terrorist attack than go through chemotherapy and years of pain in a long, excruciating death.
People seem to accept that money laundering rules are necessary, and are pushing the bar of regulation lower and lower every day. How much would your risk of death really increase if money laundering regulations were loosened? If you have a 1 in 1 million greater chance of death but vastly more freedom in your finances, wouldn't you take that? In a perfect world where people didn't die, that would be an unacceptable compromise. In our world, however, people do die. It is ludicrous that people allow themselves to become obese and then live in fear of a terrorist attack.

The creation of a new kind of criminality?

There were some shameful comments from people like the Winklevoss twins yesterday about how they appreciate regulation of the industry. For those guys, it's all about getting rich, which isn't surprising given how their wealth is largely based on winning lawsuits rather than actually creating stuff. Few people seem to be reading the text of the document and understanding how this goes beyond bitcoins. This is a breathtaking expansion of government power that has never been seen before in the financial world. The regulations in this document expand the scope of financial oversight into industries far removed from anything that is covered by existing financial regulations, like open source development. For the first time, they dictate how businesses may pay out profits and promote inefficiency by requiring a bitcoin -> dollar -> bitcoin conversion, widening the pockets of Coinbase. They signal the creation of a huge bureaucracy that will require ever more taxpayer dollars to process millions of "suspicious activity reports," licenses, and minute software changes.
But most importantly, they require recordkeeping and information gathering of unprecedented scope, and trust so many entities to gather these records that they will be leaked to everyone. People running small mining pools that pay out $0.30 per day will be retaining passport numbers. Some people are viewing this as the "government" collecting information on people, but the government already has all this information. What will happen is that these records will be so prevalent because so many people are mandated to collect them that every hacker in the world will have a copy. In what other area of business are so many people required to keep huge databases of passport photos, utility bills, and other documentation that enables all sorts of criminal activity? These records will exist for at least 10 years, be copied in mergers and acquisitions, and leaked to the media and to the criminals, who will pay record sums for them.
The criminals and rogue insiders can use the data not only to perform identity theft, but to learn everything you ever bought, who your contacts are, where you live, how much you earn, what time of day you are away from your house, and what sites you use. They can phish for passwords at just the sites you use, arrange a theft when they recognize you are on vacation, threaten to phone your employer with false allegations of rape unless you pay up, use stolen wallets to frame you by purchasing child pornography with them, and contact repressive governments to have you arrested for associating with a known dissident.
That brings me back to the opening sentence in these thoughts for today. If these regulations pass and spread to other jurisdictions, we may actually find ourselves opposing the uptake of bitcoins. If more states adopt these regulations and people start adopting, then the stage will be set for an increase in government power to track everything about everyone, and a corresponding increase in criminal activity.
I said in the past that bans on bitcoins would not have an impact on the technology because people would go somewhere else, so they were not a change to the fundamentals. Few anticipated such a dramatic expansion of government power like we saw yesterday. Using the technology to procure unprecedented amounts of data would be a change to the fundamentals which even Nakamoto probably didn't intend.

Other

submitted by quintin3265 to BitcoinThoughts [link] [comments]

Cboe announces bitcoin futures to start trading Sunday

This is the best tl;dr I could make, original reduced by 57%. (I'm a bot)
The Cboe Futures Exchange plans to offer trading in bitcoin futures beginning 6 p.m. ET Sunday.
In a race by major exchanges to offer bitcoin derivatives products, CME announced Friday it would launch bitcoin futures Dec. 18.
Cboe's bitcoin futures will trade under the ticker symbol "XBT" and will be cash-settled against the auction price from Gemini Trust, the digital currency exchange founded by twins Cameron and Tyler Winklevoss.
In contrast, the CME bitcoin futures contract will be cash-settled against an index that's currently weighted to four bitcoin exchanges: Bitstamp, GDAX, itBit and Kraken.
Bitcoin futures will allow institutional investors to buy into the digital currency trend, and likely pave the way for a bitcoin exchange-traded fund in the U.S., analysts say.
The digital currency is prone to sharp gains and losses of several hundred dollars in only a few hours, and enthusiasts say bitcoin futures will help investors feel more comfortable with buying bitcoin since they can use futures to protect against major losses.
Summary Source | FAQ | Feedback | Top keywords: bitcoin#1 futures#2 exchange#3 trade#4 Cboe#5
Post found in /Bitcoin, /BitcoinAll, /AutoNewspaper and /NBCauto.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

FUD at its finest

Fortune: "Bitcoin Price Plunges as SEC Rejects Proposal to Create an ETF"
Reuters: "U.S. regulators reject Bitcoin ETF, digital currency plunges"
Buisness Insider: "Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF"
New York Post: "Winklevoss' Bitcoin Trust tanks after SEC denies application"
Vox "Why Bitcoin lost 15 percent of its value in a few minutes"
Tech Crunch: "Bitcoin drops 15% after the SEC rejects the Winklevoss ETF"
Bloomburg: "Bitcoin Plummets 18% as SEC Rejects Winklevoss ETF Proposal"
Wait a second...after that catastrophic, devastating, apocalyptic plunge, bitcoin is still up 13.7% year to date. Nice.
Here are a few of the assets bitcoin is currently beating:
Asset YTD % gain/loss*
Bitcoin 13.7%
Google (GOOGL) 10.5%
NASDAQ 7.6%
Amex (AXP) 7.0%
Dow Jones 4.9%
S&P 500 4.7%
Gold (GLD ETF) 3.6%
Real Estate (VNQ ETF) -2.6%
Oil (USO ETF) -8.0%
The one stock I looked up beating bitcoin: Apple (AAPL) 19.7%
After this massive plunge, bitcoin is only beating the S&P 500 by 9%. I'm not sure if I'll be able to sleep tonight.
*Calculated from the price when I am typing out this post. Dividends excluded (but relatively inconsequential here).
Edit: table was screwed up
submitted by biggestblitz to Bitcoin [link] [comments]

The World's First Bitcoin Billionaires Are Now the World's First Bitcoin Ex-billionaires. The Winklevoss Twins Have Seen About $600 Million Wiped Off Their Bitcoin Wealth in 2 Days.

This is the best tl;dr I could make, original reduced by 59%. (I'm a bot)
For those holding on to their coins for dear life, it's been a loss of roughly 34%. For the Winklevoss twins, who hold an estimated 120,000 bitcoins, that comes to a loss of about $600 million.
The twins, who famously sued Facebook founder Mark Zuckerberg, bought their original bitcoins with part of the $65 million settlement from the case.
The Winklevoss bitcoin fortune seemed to top out around $1.3 billion in mid-December.
To be sure, the Winklevoss twins have not publically disclosed the exact number of bitcoins they hold, and the twins could have sold a number of coins to realize their gains.
Besides holding the digital assets, the Winklevoss twins founded their own bitcoin exchange called Gemini.
See Also:.SEE ALSO: The Winklevoss twins are worth about $1.3 billion in Bitcoin alone.
Summary Source | FAQ | Feedback | Top keywords: Bitcoin#1 twins#2 Winklevoss#3 hold#4 exchange#5
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Bitcoin Trading Intelligence

Hope all is well guys. Thank you for the feedback on our last Bitcoin Trading Intelligence newsletter. Hope this one addresses some of those points.
Feedback and any other comments are welcome.
If you like this and want more, you can now reserve your spot in our Bitcoin Trading Intelligence platform.
Note on the Flash Crash:
On August 18th the Bitcoin market experienced a flash crash on a number of exchanges, led by Bitfinex. It appears, according to swap data there was a number of large positions which closed in tandem causing a whipsaw effect, accelerated by market panic. Thankfully it does appear this was an isolated issue, and not a fundamental break down of the market. The price touched $160s on Bitfinex, and has since recovered to the $230 region, signaling this may have been entirely a result of an issue with an exchange or exchanges. We’ll know more in the coming days, but at this time we believe this to be the case. We’ve selected Bitstamp for our charts, as it did not have as drastic a reaction which can affect technical analysis.
Fundamental Analysis:
The entire setup of the market is clouded with bearish sentiment amplified the impacts of the BitLicense and the news of the first Bitcoin-XT Block being mined. Here is a review of what has happened fundamentally in the market over the past week and a half. On a global scale, the acceptance of Bitcoin in many countries has been on the rise as weaker economies are evidently turning to cryptocurrencies as their exit option, indicated by the increase in the trading volumes of Latin American Countries. The high inflation rate and unstable economy in countries like Argentina and Brazil have caused a massive surge in the trading volumes of Bitcoins in Latin America increasing more than 120%. This might be a reverberation from the increased number of newly registered users in Greece over the past few weeks which increased by 600%. In Europe, despite Germany’s recent negative press about Greek bailout, Berlin remains one of the major attractions for Venture Capitalists, with Bitcoin Startups and the overall ecosystem continuing to prosper. With more than $2.2 Billion invested in startups in Germany and a considerable percentage of them being Bitcoin startups, the future of cryptocurrency in Germany looks promising.
The surprise “one off depreciation” of the Yuan by the People’s Bank of China early in the week led to price divergences and limited bull runs in USD and CNY exchanges as people invested with Yuan saw the Bitcoin market as a good hedging opportunity. Adding to the already strengthening sentiment of growing Venture Capital investments in bitcoin, Japanese exchange ‘bitFlyer’ was able to raise $4 million for their next round of funding, despite the ripples caused by the arrest of Mark Karpeles, former CEO of Mt Gox earlier this month. Bitcoin got a boost from more traditional finance firm PricewaterhouseCooper’s which promoted the use of Bitcoin and Blockchain Technologies for its clients. The report stated categorically that Cryptocurrencies open the door for revolutionary technological possibilities and would disrupt the existing financial Industry in a positive way. With things going awry after the BitLicense debacle, the long awaited Gemini Exchange is a ray of hope for the residents of New York with the Winklevoss twins filing the paperwork for operating an exchange in New York in accordance with the new policies.
Edward Snowden’s statements about bitcoin, particularly saying that the technology is inherently flawed citing the ‘51 % mining attack’ as a structural weakness problem created negative sentiment in mainstream press. On the positive side, he added that the basic principles of systems based on decentralized tokenization models might continually provide more value to society. In the midst of the negative mainstream sentiment Bitcoin XT released their completed version of the software on the 15th of August. Unfortunately, many mainstream articles surfaced calling the first Bitcoin-XT block meaning Bitcoin has forked. On one hand it is a vote for the change in protocol, but the network, almost exclusively, continue to run on the core implementation. Predictions say the full switch could happen mid-2016, but the exaggerated news has had a short term impact on the mainstream perception of Bitcoin and potentially the market.
While things were already looking tight because of BitLicense, The Financial Crimes Enforcement Network (FinCEN), has issued a new ruling stating startups seeking to tokenize commodities for Blockchain based trading have to be licensed in all the 50 states. On the heels of new regulation, SABR, a New York Based startup has just raised one million dollars to fulfill its goal of providing law enforcement with a view beneath the surface of multiple block chains. SABR aims to detect and prevent bitcoin and other digital currencies being used for illicit purposes. How these developments in regulation and security will help or harm the bitcoin community will be seen in due time.
Technical Analysis:
Long Term:
On a weekly scale, the market has been predominantly sideways with choppy moves from 255-271, until finally completing the bearish arc of the sideways swing by breaking the support zone around 250 and trading at 220 levels. The Bollinger bands in the weekly chart still remain parallel showing that the market is in the expected zone and judging by the regression lines, is setting up for a bull trend after consolidation. On a long term scale, taking a position right now for a long term trade would be premature as the sentiment in the market is not clear. The RSI is approaching the oversold region while the MACD just took a bearish turn without crossing the zero line. The proper indication for setting up long term trades would be reading the setup of the market in terms of 5 SMA and Bollinger bands. As soon as both Bollinger Bands and the 5 SMA become trending in the upward direction after significant consolidation, entering into trades with a long term plan is more justified. Proper entry points for such trades would be around the 217 region with stops below 214. If the market is trending, possible exit points could be 255, 271 and 317.
If the market breaks to the downside, breaking the support zone at 217, weekly lower Bollinger band and previous swing lows are possible targets.
Midterm:
If we look at the daily chart, the break of the zone of support around 250-255 signaled move in the market that has the run the price down to 221. The reversal was very quick with less volume, showing that the 217-220 zone is a good support zone which can be tested soon because of the still trending bearish setup in the daily chart. With the Bollinger bands and SMA’s pointing downwards, the setup is going to remain bearish for some time until a base of consolidation is formed. The descending triangle as shown in the daily chart between the downward trendline and support line at 217 might result in higher volumes being traded in the coming days. In which direction the break out would be or the setup would change will depend on how the market approaches the vertex of the triangle. The MACD is showing a bearish signal in the short term and the RSI crossed 30 into the oversold region but is now coming close to leaving the oversold region. In the medium term, it appears that it is going to be bearish/sideways for some time.
A trade setup shorting at the 5 SMA cross and looking for positions on the retracements was a good opportunity during the sell off.
Short term:
The market crashed by a huge percentage on Tuesday when the trading price of Bitcoin dropping to the 160s on some exchanges, although Bitstamp did not have as severe a reaction. Though it was immediately backed by a green retracement candle, the sentiment is predominantly bearish even in the 240 minute chart with little corrections. The market is expected to trade in this range for some time before either consolidating and going for a reversal or crashing down further. Some of the good trades in this range would be picking longs on the support level until the market closes in on the triangle as shown on the daily chart. Shorting around the lower Bollinger band, and 5 SMA with expectation of a crash down back to the 217 levels could also be profitable, although these trades have to be done with a tight stop loss.
Sentiment Analysis:
The overall sentiment of the market has continued bearish with BitLicense and “Bitcoin Forking” leading the way. However, the sentiment on the banking front is picking up speed with Visa deploying a block chain research team on the 12th August in Bangalore to study the possible applications of the Blockchain. Deutsche Bank has recently backed Blockchain Technology and bitcoins by making some positive statements about how bitcoins hold the key for the future of financial services. Another positive enforcer to the sentiment is Blockchain.info has exceeded 4 million users. With companies like BitX and ecoins making payment through bitcoins via debit cards infrastructure possible, further research to adapt bitcoin to the existing financial system and other applications seems more likely. Continued adoption by European merchants and an Indonesian crowd funding platform accepting bitcoins, gives hope that bitcoin is slowly gaining a grip on the traditional financial world. It’s still unsure about how the forking news will affect the price of Bitcoin. Major exchanges like Bitfinex have said the major exchanges will come together in agreement if a major shift happens, as there main concern is supporting as many customers as possible.
Developments in Blockchain:
The Blockchain is may play a key role in the Music Industry. Revelator builds software that allows artists and record labels to manage, track and market their music all from one application. The company sees the blockchain as an opportunity to simplify music rights, which remain complicated and difficult to verify, with a new Intellectual Property (IP) management system that will allow artists to register their works on an immutable ledger. They have partnered with Colu for this project.
On another front, ItBit has revealed details about the Bankchain project, a private consensus based ledger system aimed at providing enterprise financial solutions. With this, the New York based exchange has joined other Blockchain firms which are trying to seek the attention of banks that want to utilize the efficiencies of distributed Blockchain technology with private blockchains.
Technocorner:
The past week and a half has majorly been a week of innovation where ‘ecoin’ and ‘BitX’ have launched Hybrid debit cards. These debit cards are aimed to facilitate interchangeable payments in bitcoins or fiat currencies. ecoin plans to merge the bitcoin infrastructure with the existing financial climate, by taking a widely accepted form of payment like debit cards and combining it with Bitcoin to create a new Hybrid Cryptocurrency debit card. BitX is working on technology so users can also spend bitcoin offline without any internet connection. BitX and ZAZOO have announced this partnership that enable BitX users to use VCpay which works as an alternative for plastic cards.
Another interesting development is the BitcoinAlert Project, with the BitcoinAlert app that analyzes the prices historically and alerts about prices to buy or sell bitcoins. But the Technological development that trumped everything else this week would have to be ‘Filament’. Filament has raised $5 million in series A funding led by Bullpen capital, Verizon Ventures and Samsung Ventures. Filament is a decentralized IoT software stack that uses the bitcoin blockchain to enable devices to hold unique identities on a public ledger. By creating a smart device directory, Filament's IoT devices will be able to securely communicate, execute smart contracts and send microtransactions.
Article with the charts can be found here: http://www.benzinga.com/news/15/08/5779058/bitcoin-flash-crashed-this-week
submitted by blockstreet_ceo to BitcoinMarkets [link] [comments]

BIS Studies Crypto, Ripple loses R3 Case, Winklevoss Twins  The Comment  Episode 78 Bitcoin Is Like Gold 2.0, Says Tyler Winklevoss The Winklevoss twins talk Bitcoin futures and fears Dave Portnoy is the Baron of Bitcoin with the Winklevoss Twins The Winklevoss Twins Eat, Sleep, and Breathe Bitcoin - YouTube

In the latest episode of his podcast, What Bitcoin Did, Peter McCormack speaks with the Winklevoss twins about their recently published article, “The Case for $500K Bitcoin.” The Gemini co-founders began writing their thesis on the future price of BTC, sharing that their bet on a roughly 50x price increase for the king coin was originally unrelated to the macroeconomic backdrop provided by ... Just ask the Winklevoss twins, Tyler and Cameron, who have lost $1 billion from investing in bitcoin in the fall out of the recent crash in cryptocurrency. The Winklevoss bitcoin fortune seemed to top out around $1.3 billion in mid-December. With this week's losses, it would sit closer to $700 million. To be sure, the Winklevoss twins have not ... Tyler and Cameron Winklevoss first invested in bitcoin in 2013, but they weren't sold on the cryptocurrency right away. "It didn’t make sense at first but after some tequila, it started making ... The Winklevoss twins just lost millions in the Bitcoin crash Cameron and Tyler Winklevoss, famous for suing Mark Zuckerberg over Facebook, have invested millions in the virtual currency.

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BIS Studies Crypto, Ripple loses R3 Case, Winklevoss Twins The Comment Episode 78

Winklevoss Twins: Bitcoin Could Go Beyond One Trillion Market Cap + Gemini.com Announcement - Duration: 3:29. TheBitcoinArmy 8,872 views. 3:29. The best way to become a millionaire in five years ... These guys turned $11 million into a $1 billion windfall. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to... The Winklevoss twins talk Bitcoin futures and fears - Duration: 9:42. Fox News 108,436 views. 9:42. How to spot a liar Pamela Meyer - Duration: 18:51. TED Recommended for you. 18:51 . Why Tim ... Cameron and Tyler Winklevoss sit down with John Biggs to discuss Wall Street's attitude toward bitcoin, their new bitcoin exchange, and their bitcoin-based e... They became famous as the privileged pair of Harvard athletes who believe Mark Zuckerberg stole their idea for Facebook. Now, entrepreneurs Cameron and Tyler...

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