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Bitcoin jump of 2017 : $1,000, $2,000, $5k, $10k & rising?

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HOT NEWS ✪ Jim Rickards REVEALS

- CryptoCurrency Potential Risks! (June - 2017)

 

 

Bitcoin Buyer Beware

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Jun 25, 2017

Entrepreneurs have a new trick to raise money quickly, and it all takes place online, free from the constraints of banks and regulators. As Axios reports, since the beginning of 2017, 65 startups have raised $522 million using initial coin offerings — trading a digital coin (essentially an investment in their company) for a digital currency, like Bitcoin or Ether.

 

One recent example, as NYT reports, saw Bay Area coders earn $35 million in less than 30 seconds during an online fund-raising event. They sold Basic Attention Tokens (BAT coin) which will grant buyers access to an innovative ad-free web browser the coders are intending to create, but have yet to launch.

And that's the catch: these investors are buying promises in the form of coins for a product or service that doesn't exist.

 

Similar to the Bay Area example, a group of entrepreneurs in Switzerland secured $100 million last week by selling a coin that will one day be used on Status, an online chat program that's still being developed.

 

Proponents argue that these initial coin offerings are "a financial innovation that empowers developers and gives early investors a chance to share in the profits of a successful new enterprise," NYT notes.

 

However, many say it potentially violates securities law and that this trading of digital currencies is ripe for hackers, from NYT: "Last year, the first blockbuster coin offering, the Decentralized Autonomous Organization, quickly raised more than $150 million. But the project blew up after a hacker manipulated the code and stole more than $50 million worth of digital currency."

By selling these coins for Bitcoin or Ether, "conventional banks and financial institutions are essentially shut out, allowing initial coin offerings to take place beyond the control of regulators," and that could lead to a whole host of issues for the entrepreneurs and investors alike.

So, it is no wonder that Fred Wilson's advice with regard ICOs is simple "buyer beware, do your homework, don't be greedy."

==

> More: http://www.zerohedge.com/news/2017-06-25/bitcoin-buyer-beware

 

/ 2 /

Bitcoin Bloodbath Leads Tech Stock Tumble; Gold Gouged As Credit Curve Crushed To New Lows
20170626_EOD.jpg
  • 81,393
  • Jun 26, 2017

 

20170626_EOD6_0.jpg

 

Then Durable Goods data and The Chicago Fed's National Activity Index both tumbled and massively missed expectations -smashing the Citi Macro Surprise Index to its weakest since August 2011...

20170626_EOD4_0.jpg

 

Then Nasdaq (led by FANGs) tumbled at the cash open after levitating overnight - oddly reactive to the tumble in Bitcoin...

20170626_EOD11_0.jpg

 

Bitcoin was clubbed like a baby seal - down over 15% - the biggest drop since Jan 2015...

20170626_EOD5_0.jpg

 

On the day, only Nasdaq closed red...markets closed weak (NOTE, the European close saw a buying panic reappear in Nasdaq briefly)

20170626_EOD17_0.jpg

 

FANG Stocks fell most since the day after the tech-wreck closing NOT "off the lows"...

20170626_EOD18_0.jpg

20170626_EOD19_0.jpg

VIX was smashed back to a 9 handle...But as the chart below shows, it didn't help push stocks back up..

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Bitcoin - Key test at 2400... and then maybe about 2200

 

BTS ... 5-months : 10d : 5d :
B9V2ssM.png

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BITCOIN Volatility ahead

 

The forking process starts in August.

Liquidations are expected

Kevin Lawton – Cryptos Are Speculation Not Currency

Published on Jul 9, 2017

Kevin Lawton recently wrote a Kindle short titled “Beyond the Bitcoin Trap: A Crypto Currency for Human 2.0” and predicts, “This year is going to be the year of volatility in Bitcoin price. I expect liquidations, but it’s like a tug of war. There are reasons for people to tug the price up . . . then on the regulatory side, for example, prices could go down. Then someone could legitimize Bitcoin and you could get the price up. So, you got this tug of war going on. My big message is volatility, and know what’s going on so you can protect yourself. . . There is really not utility in using Bitcoin as a currency at the moment because of transaction speed and because of the price volatility. . .Bitcoin is still not very usable as a currency. . . . At this moment in history, crypto currencies are not really currencies. They’re a speculative bet. There are a lot of reasons for them to go up big, but there are reasons you could get completely monkey hammered.”

Join Greg Hunter as he goes One-on-One with tech entrepreneur and published author Kevin Lawton, founder of TrendCaller.com.

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Bitcoin - the scaling issue

 

chart.png?m=bitstampUSD&v=1&t=S&noheader

 

Traditional Investors Will Lose Their Shirts Investing in Cryptos—Here’s Why We Won’t

EXCERPT

Theme 3: Scaling

While in Berlin, I met a group of executives from drug giant Merck.

These folks are in charge of Merck’s European innovation group. They’re tasked with identifying innovative technology.

One problem these execs have with current blockchain technology is it can’t easily scale. In other words, they just can’t operate at the speed Merck requires.

This is a common complaint. I’ve heard it from executives in London, Boston, Silicon Valley, New York City, and now Berlin.

The most popular blockchain, Bitcoin, can only handle seven transactions per second*. Like the old 56K telephone modems of the 1990s, that’s awful. But it would be a mistake to think that it will stay that way forever.

Just as those modems eventually transformed into the high-speed internet we enjoy today, it’s only a matter of time before bitcoin cracks the scaling problem.

Solving scaling will be the one event that will transform cryptocurrencies from a relative small-scale market to a global multitrillion-dollar market.

A New Playbook

The way you make money in cryptos is different from the way you make money in tech stocks.

Many traditional investors will lose their shirts in cryptos because they are looking for the next “killer app.”

As I’ve shown you, the money isn’t in owning the applications... but owning protocols with interoperability and the ability to scale.

What I’ve shared with you today is how crypto insiders are selecting their ideas. These are the guys who are turning thousands into millions.

And by following their game plan, we could join their ranks.

Let the Game Come to You!

Regards,

Teeka “Big T” Tiwari

 

(From an email)

 

* I have been told by an Ap developer friend that Ethereum fails at maybe 50 transactions per second

 

ETH - the sellers are still in charge!

tgTHZ1l.jpg

=

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Bitcoins have Fallen... below $2000 - Last: 1951

 

BTS ... update : 6-mos :

VRkMi40.png

=

ETH is down to $156

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Ethereum Triggers
blVuoS7.jpg
what event? who pulls? how pulled?
An outstanding feature of the Ethereum blockchain, is how it can be used to create "smart contracts" which are triggered in a more efficient (and perhaps cheaper) manner than standard, old-fashioned legal contracts, which may require a more elaborate discovery and settlement process.
A new thread will look at some examples, and discuss issues and challenges in using Ether-related triggers
==
> http://www.greenenergyinvestors.com/index.php?showtopic=21598

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ETH bounce underway - could develop into something more powerful

 

ETH : 6mos : 3mos :

Gog0pYU.jpg

 

 

Meantime, there's a danger of a bigger correction in Bitcoin prices

 

BTS ... 10d :

t53y1E9.png

==

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  • Aug 9, 2017 3:30 AM
  • 52
Russia Launches $100 Million Bitcoin-Mining Operation
20170622_bitcoin_0.jpg

In what some have called a “watershed” moment for bitcoin, Bloomberg reports that a company co-owned by an aide to Russian President Vladimir Putin is seeking to expand Russia’s bitcoin-mining industry.

 

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Next target: $4000?

 

EFpxh5v.png

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Hi DrBubb, and others, hope you are all staying healthy, wealthy and wise! I've been around GEI for quite some time from a few years back. Bitcoin is of course an incredibly interesting market. I first bought bitcoins back in 2014 (behind the curve to say the least) and have been developing my interest in this space particularly early this year with other cryptocurrencies.

 

Some alarm bells are ringing here however;

 

Exhibit 1;

 

John McAfee says that not only Bitcoin isn't a bubble but that you cannot call it one.

 

JOHN McAFEE: Here's why you can't call bitcoin a 'bubble'

 

http://uk.businessinsider.com/bitcoin-price-john-mcafee-not-a-bubble-2017-8

 

"Likewise, what people see as a bitcoin "bubble," from the perspective of the new paradigm, is merely the predictable and systematic devaluation of fiat currencies that will continue, with obvious ups and downs, until all fiat currencies reach the zero point."

 

The price of gold however, is not currently reflecting the "predictable and systematic devaluation of fiat currencies " so it is as yet unclear why this devaluation would only be reflected in the cryptocurrency markets.

 

 

 

Exhibit 2;

 

The shoeshine boys are getting in on it;

 

Middle America is in love with Bitcoin

 

https://www.nbcnews.com/business/economy/middle-america-crazy-love-bitcoin-n789011/

 

 

"One of them, Ryan Williams, a 35-year-old school bus driver, admits he doesn't fully understand how Bitcoin or its rivals work."

 

 

Exhibit 3;

 

A successful boxer is now exhorting on all things crypto;

 

Floyd Mayweather Just Joined the ICO ‘Coin’ Craze

https://www.coindesk.com/boxing-champ-floyd-mayweather-just-promoted-ico-instagram/

 

"I'm gonna make a $hit t$n of money ... on the Stox.com ICO"

 

Could you imagine Mayweather being the figurehead for an Initial Public Offfering? I don't see that would fly unless it was boxing related.

 

 

I have various interests in Cryptocurrencies but bailed out of 1/5 of my bitcoin, dash and ethereum holdings today.

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Welcome back - thanks for the post

 

Hi DrBubb, and others, hope you are all staying healthy, wealthy and wise! I've been around GEI for quite some time from a few years back. Bitcoin is of course an incredibly interesting market. I first bought bitcoins back in 2014 (behind the curve to say the least) and have been developing my interest in this space particularly early this year with other cryptocurrencies.

. . .

A successful boxer is now exhorting on all things crypto;

 

Floyd Mayweather Just Joined the ICO ‘Coin’ Craze

https://www.coindesk.com/boxing-champ-floyd-mayweather-just-promoted-ico-instagram/

 

"I'm gonna make a $hit t$n of money ... on the Stox.com ICO"

 

Could you imagine Mayweather being the figurehead for an Initial Public Offfering? I don't see that would fly unless it was boxing related.

 

 

I have various interests in Cryptocurrencies but bailed out of 1/5 of my bitcoin, dash and ethereum holdings today.

 

I wonder if Mayweather has been influenced by our old friend Calculus (Frizzers).

Who is a crypto-enthusiast, and i believe knows the boxer

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Hedging Rules okay?

 

Bitcoin $4800-5000? Looks possible now ... 6-mos :

BH964Cb.png

==

 

 

Bitcoin prices hit my Target on Bitmex, and I am now fully hedged (again).

Unfortunately, I got thrown out of my previous "hedged position" at the wrong time, and experienced heavy "rollcosts".

Thus, over the last 2-3 months saw an erosion in my NAV from $4000 to $3100. It has since recovered to $3600.

But I now have some doubts about the ability to hedge effectively through Bitmex

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Top or Dip?

 

It is very possible we HAVE seen a Major Top

 

 

$5000-ish was an obvious "ultimate" target - which I identified when the price rose thru $4600.

Now the sell off is heavy

 

BTS - 6-mos

lxe2TCk.png

==

 

Bitcoin dips another $300 after China’s cryptocurrency crackdown

  • Bitcoin hit a low of $4,037 Tuesday - falling by more than $300 - as it continued to digest a Chinese clampdown on cryptocurrencies
  • The latest drop indicates a 20 percent fall following the coin's $5,000 high over the weekend
  • Several Chinese regulators announced a ban on initial coin offerings (ICOs) on Monday

Bitcoin fell by another $300 on Tuesday after the fallout of a Chinese ban on cryptocurrency crowdfunding methods saw the price of the digital coin slump earlier this week.

The virtual currency fell from $4,584 to $4,350 on Monday...

"The price action has certainly been led by this Chinese salvo - but healthy profits and moving traders to take gains off the table too until the panic calms," Charles Hayter, chief executive and founder of digital currency comparison website CryptoCompare, told CNBC via email.

The bitcoin analyst said that the cryptocurrency crackdown was expected due to "irrational excesses" in the Chinese market.

==

> https://www.cnbc.com/2017/09/05/bitcoin-dips-another-200-after-chinas-cryptocurrency-crackdown.html

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An inevitable global government crackdown on cryptocurrencies will trigger a new rush to gold,

/

...said emerging markets guru Mark Mobius.

Digital currencies are bound to catch the eyes of lawmakers, largely due to their popularity among illicit segments of societies, the executive chairman at Templeton Emerging Markets Group, told Bloomberg in an interview on Monday.

“Cryptocurrencies are beginning to get out of control and it’s going to attract the attention of governments around the world,” Mobius said. “You’re going to get a reversion back to gold because people are going to wonder, can I really trust these currencies?”

The famed investor pointed out that digital currencies like bitcoin are often used by terrorist groups and drug dealers, making a crackdown on them unavoidable.

==

> http://www.kitco.com/news/2017-09-06/Mobius-Investors-To-Flock-To-Gold-As-Governments-Crackdown-On-Cryptos.html

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Deeper Pullback?

Looks like the Overall Crypto MarketCap ...

 

2C4Kslc.png

 

... can experience a Deeper pullback, such as about $120 billion,

or if that is broken to maybe $75B or lower

 

During that drop (if it comes) BTS might pullback to $3600-3800 or lower ... update

yAajjKg.png

==

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The bottom line? Bitcoin is headed for failure, but cryptocurrency is here to stay.

 

The most likely long-term scenario in all this is that well see a cryptocurrency backed by JP Morgan and the government a blockchain with built-in NSA snooping and an identity layer so that all transactions can be tracked by the IRS to enable government confiscation and criminalization as deemed appropriate by the crooks in Washington.

Once this approved blockchain is rolled out, it wont be long before government finds a way to criminalize all unapproved blockchains such as Bitcoin, Ethereum, etc.
==

> http://www.greenenergyinvestors.com/index.php?showtopic=21499&page=2

 

sounds nasty.

but we have seen usgov work that way before

the rapacious govt does not like competition for its money monopoly

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Bitcoin Prices / BTS : 8-yrs : 1-yrs :

fvXH02A.png

1-yrs :

7SlIj6s.png

===

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Update on Hedge bitcoin position

 

 

Wow.

I tried to add to my short - but had a glinch

I am essentially fully hedged, ie my Long = my Short

 

Here's the chart I put together, seeking a Top ... update

 

MZLSOat.png

 

How'd you get on with your short? Who are you shorting with?

 

BTS ... update

M7ScG9Y.png

 

Net Position x $BTS = $Value
BTC 0.3530 x $10800 = $3,813 : before $11,000+ peak
BTC 0.3941 x $ 9,760 = $3,846 : After $11,000+ peak
DETAIL:
Wallet Bal. : 0.8520 = x $10800 = $9,202
Wallet Bal. : 0.8520 = x $9,760 = $8,315 : chg.-$ 887
Unrealized : 0.4579 :: Loss on BTC shorts : was bigger at $10.800
Net Value : 0.3941

Because of my BTC short, I made $33, instead of losing $887

I am using BITMEX.com, based in HK

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Bitcoin or Broke: Dutch Man Sells House in Hope of Cryptocurrency Boom

 

By Anthony Cuthbertson On 10/11/17 at 11:26 AM

 

A Dutch man is betting everything he owns on bitcoin, selling his house and other possessions and moving to a campsite as he awaits a hoped-for boom in the value of cryptocurrency that will make him rich.

Didi Taihuttu, a 39-year-old father of three from the Netherlands, sold his house, car, bikes and other valuable possessions in order to buy bitcoin and other cryptocurrencies.

“At first my wife doubted the decision, wondering if it was the right decision for our kids—as did my brother and sister,” Taihuttu tells Newsweek. “But they are now supportive of the plan.

 

“We are luckily an adventurous family and we follow our feelings. We just hope that this feeling of being part of the monetary revolution is the right feeling.”

At the time he sold his house, one bitcoin was valued at around $3,700. Bitcoin’s value has since increased by a third, and now one bitcoin is worth almost $4,800.

bitcoin-invest-didi-taihuttu-gamble.jpg Didi Taihuttu and his family pose for a picture on a beach in Southeast Asia in 2017. Didi Taihuttu/ Facebook

 

Taihuttu first began mining bitcoin in 2010 after a friend told him about the virtual currency. After his father died in 2016, he decided to sell his company and begin traveling with his wife and children.

The decision to sell his house and possessions and invest in cryptocurrency came when he returned to the Netherlands after nine months.

Taihuttu says his family will continue the experiment until 2020, with plans to sell more possessions and use the money raised to invest in bitcoin. The possessions that remain include a television, a laptop, clothes, a drum and “some household stuff.”

. . .

If bitcoin does continue to rise, Taihuttu says his goal would be to help people in poorer countries, and to spread the word about bitcoin and other cryptocurrencies to the countries he visits. And if bitcoin crashes and his dream ends?

“If we end up with nothing anymore, I guess we’ll just have to start over,” Taihuttu says. “But then at least we tried.”

==

> more: http://www.newsweek.com/bitcoin-man-sells-house-possessions-cryptocurrency-682459

 

#31.

Maybe he should have sold everything, and put it on Number 31 at the Casino instead

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BTC - 10d : 2mos : 32-months

: all-data :

WExWHgr.png

 

Bill Still has been a bull on Cryptos for a long time

Why is Bitcoin Hitting $10,000?

 

Bitcoin futures (on the CME) are said to be LAUNCHING in December

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BLOCK CHAIN - looking Deeper

A little beyond the Basics - and well-explained

How the blockchain is changing money and business | Don Tapscott

Published on Sep 16, 2016

What is the blockchain?

If you don't know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is here to help, demystifying this world-changing, trust-building technology which, he says, represents nothing less than the second generation of the internet and holds the potential to transform money, business, government and society.

(same guy - asks some deep questions like,,,)

DO WE NEED FIRMS?

The main reason we have them is... "transaction costs"

It is too hard to find people you can trust to Work With - the firm makes Trust easier.

With Blockchain, there may be a new way of organizing Work & Employment

New Global Blockchain Initiative: Don Tapscott, Co-author, Blockchain Revolution

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Bitcoin Futures Start With a Bang as 26% Rally Triggers Halts

BTS ... update

9AcTl9U.png

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Will Bitcoin Reach $120,000? Billionaire Says YES!

Published on Dec 10, 2017

The Winklevoss twins fully believe that Bitcoin will one day reach a market capitalization in the TRILLIONS. Early adopters in Bitcoin Platinum get forked over, as the founder confesses that it was all just a scam. Bank of America gets a patent for proprietary blockchain technology.
Litecoin founder Charlie Lee questions the merit of popular cryptocurrency IOTA.

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