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Thread: Bitcoin Boom

  1. #181
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    Default Re: Bitcoin Boom

    Quote Originally Posted by Count Bobulescu View Post
    Thru the roof this year, and this week.......

    Bitcoin went bananas. After tearing past $5,000 on Thursday, the cryptocurrency soared above $5,800 (paywall) during early trading on Friday. JPMorgan CEO Jamie Dimon, who told investors last month that bitcoin was a bubble “worse than tulip bulbs,” said yesterday he doesn’t want to talk about it anymore.

    Have your computer mine bitcoin, then become a citizen of Vanuatu the 4th happiest country in the world.........

    And finally ... Bitcoin has dodged everything from feuding factions splitting its underlying blockchain and warnings from the likes of JPMorgan Chase & Co. Chief Executive Jamie Dimon of fraud, and yesterday breached $5,000 for the first time, pushing this year’s gains to more than fivefold. Now the South Pacific archipelago of Vanuatu is letting outsiders use the volatile cryptocurrency to apply for so-called investment citizenship. As Sara Clemence reports, fork over the equivalent of about $280,000 and your family of up to four can receive passports — that means visa-free visits to 116 other nations, and no income, inheritance, or corporate tax



    Reviewing Bitcoin posts
    here it seems this crypto-currency is staying around.

    If you do buy any of it, what is the safest way to hold it. Heard different stories about various "wallets"

  2. #182
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    Default Re: Bitcoin Boom

    Quote Originally Posted by homer View Post
    Reviewing Bitcoin posts
    here it seems this crypto-currency is staying around.

    If you do buy any of it, what is the safest way to hold it. Heard different stories about various "wallets"
    Afraid I can't offer you any useful information on wallets right now, but that may change in a couple of months. I'm thinking about accepting bc in a online business.


    I agree I think it's going survive. Whatever about bc itself, the underlying blockchain technology it promulgated seems here to stay. Financial institutions are very interested in it. US DoJ said a few years ago that they saw nothing inherently illegal about bc.


    Up to now my big concern about bc has been the price volatility, because I would need to convert most of it back to $ quickly. My suppliers don't accept it.
    On one level it looks like an attractive long term investment in that (like gold) there is a finite amount. OTOH unlike gold, the barriers to entry for an alternative better product are pretty low, and you've gotta suspect people are currently working on that. About a year ago 80% of global bc trading was occurring in China, which has a strong gambling culture.
    Right now, bc accounts for about 50% of global crypto currency trading. Not sure how much of that is in China, since China recently banned ICOs. Nokia was once dominant in mobile phones.


    Coincidently I watched a 20 minute tv discussion on bc last night with journalists from Bloomberg, WSJ, and a rep from a financial institution. Wallets were not discussed, but in general they were much more positive than negative. It should be online around midnight (Irish) I'll post it when it's up.
    As a general rule the most successful man in life is the man who has the best information.

  3. #183
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    Default Re: Bitcoin Boom

    Here's the discussion I referenced.


    https://charlierose.com/videos/31079


    Coincidently, from my news feed in the last 24 hours...........

    Touring a secret vault for bitcoin millionaires. Bitcoin may be a revolutionary digital asset, but keeping a stash of it safe requires protections that look very much like banks of yore.
    Joon Ian Wong was granted access to an ultra-secure bitcoin vault belonging to the firm Xapo, located in a decommissioned Swiss military bunker near Zürich. Read about the paranoiac levels of security built into this facility, including nuclear bomb-proof vault doors.


    910,000: The number of users on the AirPay payments and e-wallet app in June 2017, operated by Sea — the Southeast Asian gaming, payments, and e-commerce company — which listed its shares this week in the US. That’s up more than 3x from just 290,000 users a year before

    $40M: The amount raised by private blockchain provider Digital Asset Holdings in Series B financing from Jefferson River Capital. Digital Asset Holdings has now raised $107M, making it one of the most well-funded venture-backed blockchain startups. This week we published a report on the blockchain investment landscape — and how VCs, token sales, and consortia are shaping its future. Get the PDF
    As a general rule the most successful man in life is the man who has the best information.

  4. #184
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    Default Re: Bitcoin Boom

    And why not.......


    One intense number
    The average investor would sell their Bitcoin at a price of $196,165.78, which is more than 26 times higher than the current price of $7,476.78.
    As a general rule the most successful man in life is the man who has the best information.

  5. #185
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    Default Re: Bitcoin Boom

    If that member who wanted to donate in Bitcoin would still like to - the green button is still there.

    I'd say he is past eating nettle soup these days
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  6. #186
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    Default Re: Bitcoin Boom

    This is going to be fun........


    Bitcoin heads to Wall Street whether regulators are ready or not. Two U.S. exchanges, including the parent of the venerable Chicago Mercantile Exchange, are racing to embrace bitcoin, dragging federal regulators into a realm skeptics call a fad and fraud. Both got the green light on Friday to offer bitcoin futures. The moves are a watershed for Wall Street professionals who have been eager to bet on cryptocurrencies but worried about doing so on mostly unregulated markets.


    Cryptocurrencies are a hot new job skill. Bitcoin-related job postings on LinkedIn jumped more than ninefold in the financial services industry over the past three years and 4.6 times in the software technology industry. While interest in bitcoin started with technologists and hobbyists, more people are now listing it as a skill on their LinkedIn profiles


    As a general rule the most successful man in life is the man who has the best information.

  7. #187
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    Default Re: Bitcoin Boom

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  8. #188
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    Default Re: Bitcoin Boom

    Cameron and Tyler Winklevoss, the identical twins famous for their legal battle with Mark Zuckerburg over the ownership of Facebook, have become bitcoin billionaires following a surge in value of the currency over the past year, according to The Telegraph.

    The Harvard University-educated rowing brothers sued the Facebook founder in 2004, claiming he stole their idea for the social networking site.

    Although their action for control of the company was unsuccessful, they were awarded a settlement of $65m (£48m) in 2008, out of which they used $11m to invest in bitcoin at $120 a coin in 2013, The Telegraph reported.

    Their holding is now believed to be worth just over $1bn, according to the paper.
    http://www.independent.co.uk/news/bu...-a8090921.html

  9. #189
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    Default Re: Bitcoin Boom

    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  10. #190
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    Default Re: Bitcoin Boom

    For a time this week the value of all Bitcoin in circulation, above $300B, was greater than the GDP of Ireland.......




    Bitcoin’s wild ride this week—trading between $10,000 and $17,000, with plenty of volatility in between—left some major exchanges struggling to cope. Over in the world of ethereum, the second-largest cryptocurrency, a robust trade in digital cats known as CryptoKitties accounted for more than 10% of all transactions at one point. Some of the blockchain-based felines have been sold for more than $100,000 in recent days.

    Meanwhile, Venezuela said it will launch a cryptocurrency backed by oil and diamonds, the Australian stock exchange announced it will rip out its plumbing and replace it with a blockchain-based alternative, and a major derivatives exchange in Chicago prepared to launch the first bitcoin futures contracts this weekend, potentially ushering in a wave of institutional money.

    Indeed, it has been a big week for cryptocurrencies and the technical idea they popularized: the distributed ledger known as the blockchain.

    In 2014 the venture capitalist Marc Andreessen argued that bitcoin most closely resembles the early commercial internet. It was a clunky plaything for geeks and computer scientists, and generally laughed at by the corporate bigwigs of the day. Then the first dot-com boom begat a stock market bubble and, eventually, spectacular flameouts like Pets.com and the frenzied Beanie Baby market enabled by eBay.

    So far, so bitcoin.

    But out of the dot-com rubble emerged the companies that would alter the way we live a short while later. An online bookseller became the world’s largest retailer. A has-been from the PC era introduced an “internet communicator” that transformed it into the world’s most valuable company. And the stage was set for the search engine and social network that would grow so powerful that the fates of nations now hinges on their secret algorithms.

    If Andreesen is right, we could well be in the throes of something like dot-com mania again. Just substitute Beanie Babies for ethereum kittens, WebVan stock for the bitcoin price, and online brokerage accounts for the Coinbase app. It could end in tears, for both speculators and true believers alike. But it could also mean that in five, 10, or 20 years, we’re living in the world first described in an anonymous PDF document and published to a cryptographers’ mailing list nine years ago.—Joon Ian Wong



    Good explainer here.........

    https://www.cbinsights.com/research/...dff08-86652701



    About 1000 people have Bitcoin accounts valued at $100 M +/-


    With prices like these, the whales of bitcoin—some 1,000 people who collectively hold about two-fifths of all the cryptocurrency—have investors worried. If one decides to sell half her holdings, or if many of them do so in tandem, prices could plummet. While White House economic adviser Gary Cohn downplays the risks of bitcoin’s meteoric rise, not everyone is so sanguine, with many banks still weighing whether to offer futures contracts. And one of Wall Street's biggest bitcoin bulls has advice for how to make money off the cryptocurrency without actually owning it





    As a general rule the most successful man in life is the man who has the best information.

  11. #191
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    Default Re: Bitcoin Boom

    So should I smash my piggy bank and put it all in on some lesser known bitcoin alternatives?
    The United Irishman. Updated 5/2/14

  12. #192
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    Default Re: Bitcoin Boom

    Personally I think it's a bubble. And the thing about bubbles is you can never predict when precisely they are going to burst.

    This does not of course constitute formal investment advice.
    "If you go far enough to either extreme of the political spectrum, Communist or fascist, you'll find hard-eyed men with guns who believe that anybody who doesn't think as they do should be incarcerated or exterminated. " - Jim Garrison, Former DA, New Orleans.

  13. #193
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    Default Re: Bitcoin Boom

    Quote Originally Posted by pluralist View Post
    Personally I think it's a bubble. And the thing about bubbles is you can never predict when precisely they are going to burst.

    This does not of course constitute formal investment advice.
    My tulip investment is yet to pay off, but I haven't given up!
    The United Irishman. Updated 5/2/14

  14. #194
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    Default Re: Bitcoin Boom

    Quote Originally Posted by Saoirse go Deo View Post
    My tulip investment is yet to pay off, but I haven't given up!
    It's even less use than a tulip which at least was beautiful to look at. In the short term it is still amusing to think about our nettle-soup eating friend who presumably is a mult-millionaire at this stage.
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

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