Bitcoin

[Hards Alumni]

Israel latest to crack down on bitcoin.

https://seekingalpha.com/news/3319979-israel-latest-crack-bitcoin

Dec. 25, 2017 3:03 PM ET|By: Yoel Minkoff, SA News Editor

Israel has become the latest nation to crack down on cryptocurrencies, proposing regulation to ban companies trading in bitcoin from operating on the Tel Aviv stock exchange.

"I think it looks like a bubble, smells like a bubble, acts like a bubble and feels like a bubble," said Israel Securities Agency Chairman Shmuel Hauser.

The move follows last week's warnings by FINRA against firms that "tout the potential of high returns associated with cryptocurrency-related activities," as well as China's decision to shutter bitcoin exchanges and ban ICOs in September.

Shocking that someone with skin in the game would say something like this!

[WarriorDad]

Thurs and Friday last week I was fairly under water.  By Tuesday, back in the black.  Today, slightly under.  I suspect this ride goes on for some time.

[tower912]

https://www.msn.com/en-us/money/markets/bitcoin-sinks-below-dollar14000-on-possible-exchange-closures/ar-BBHqORc?li=BBnbfcN

down 26% in a week.    Too volatile for my tastes. 

[Hards Alumni]

https://www.msn.com/en-us/money/markets/bitcoin-sinks-below-dollar14000-on-possible-exchange-closures/ar-BBHqORc?li=BBnbfcN

down 26% in a week.    Too volatile for my tastes.

Allow me to pff this.  It has been up 3% in the last week (at the time of this posting) and up 42% since last month.  Has there been huge swings?  Sure.

Does it have anything at all to do with potential regulation of exchanges in SK?  uhhhh not a chance.

[GGGG]

Allow me to pff this.  It has been up 3% in the last week (at the time of this posting) and up 42% since last month.  Has there been huge swings?  Sure.

Does it have anything at all to do with potential regulation of exchanges in SK?  uhhhh not a chance.

You have to understand that huge swings are what drives more risk adverse people (like me) out of these products.  And since I don't have enough knowledge to comfortably diversify myself, I am perfectly willing to sacrifice some return and invest in the five different balanced mutual funds I do now.

[Hards Alumni]

You have to understand that huge swings are what drives more risk adverse people (like me) out of these products.  And since I don't have enough knowledge to comfortably diversify myself, I am perfectly willing to sacrifice some return and invest in the five different balanced mutual funds I do now.

I absolutely do, and if I was a decade older I'd also be less risk averse.

But my main point is that to say it 'dropped' 26% is fairly disingenuous.  Did it drop 26% from the all time high?  Sure!  This doesn't mean it isn't still a solid investment. 

I think a lot of people here (and I'd argue most speculative investors) don't really understand what crypto really is... It isn't like buying a stock, or a soy future... or even stashing money in gold (though its the best comparison).

[Goose]

Yukon

Any thoughts on the Ripple big move? Been buying a little everyday and going to keep running with it. Curious on your take.

[Hards Alumni]

Yukon

Any thoughts on the Ripple big move? Been buying a little everyday and going to keep running with it. Curious on your take.

I know it wasn't directed at me, but Ripple is a centralized coin.  It is certainly an anomaly.  It has been doing really well value wise, but it is missing some of the main components of a crypto.  I don't own any, but its value has gone through the roof, and if you have some in your wallet (as you seem to!) you're probably pretty happy right now with its market cap... because it passed Ether yesterday.

Here is a quick hitter rundown for those curious.
https://www.investopedia.com/news/why-some-claim-ripple-isnt-real-cryptocurrency-0/

[Goose]

Thanks, Hards. Fingers crossed it keeps climbing. One of my sons and I are making some dough, but watching closely. That said, I’ll probably ride it and see what happens over next few months.

[Tugg Speedman]

I know it wasn't directed at me, but Ripple is a centralized coin.  It is certainly an anomaly.  It has been doing really well value wise, but it is missing some of the main components of a crypto.  I don't own any, but its value has gone through the roof, and if you have some in your wallet (as you seem to!) you're probably pretty happy right now with its market cap... because it passed Ether yesterday.

Here is a quick hitter rundown for those curious.
https://www.investopedia.com/news/why-some-claim-ripple-isnt-real-cryptocurrency-0/

Ripple is now the second largest crypto (Ehtereum is now third) and the second behind bitcoin to top $100 billion.  As the link above explains, Ripple is really designed as an efficient payment system that can instantly and without cost or friction transfer “ownership” of its “tokens” among accounts.  To do this Ripple did away with miners and is more centralized.  This centralization is why some argue it is not a real crypto.

As I noted before, their are 1300 cryptos.  They are all trying to be something different and they are all trying to solve a problem.  Did we need this many?  For now yes as they are all different.  Over time we will decide which ones make sense and which ones are irrelevant.

—————

Ever wish you were “smart enough” to jump on the internet craze in the early 1990s and make a ton of money?  Here’s your chance now with blockchain.  As I wrote before, it is the biggest deal since the invention of the internet itself.

And no I’m not talking about buying bitcoin or Ripple only.  Their will be other ways to play this.  But before you do, invest the time to understand what it is all about, it might affect your life and career somewhere down the line.

I posted this before ... watch it.

https://ted.com/talks/don_tapscott_how_the_blockchain_is_changing_money_and_business?utm_source=sms&utm_medium=social&utm_campaign=tedspread--b


A simple explanation why the block chain is a big deal?  Right now anything put on the internet is a “copy.”  That includes this post.  Anyone can copy and paste an exact replica of it.

This destroys intellectual property like writings (see the newspaper industry) or music or streaming video.

The Blockchain allows files to stay “original”and cannot be “copied” but can be “transferred” when “permission” is granted via a distributed ledger and a private key (aka “the blockchain”).  Since files cannot be “copied” this allows for the idea of crypto currencies as they only have one original version that can be transferred instead of copied over and over like an mp3 file (which rips off the artist).  The idea of keeping files “original” will spawn literally thousands of other applications that will change the way we do things.  The Ted Talk link above explains this.

[Tugg Speedman]

MU82 ... read the post above because the blockchain and cryptos could be the salvation of the newspaper industry.  Here’s how ...

You write an article.  You offer the first 50 words as a teaser, to read more, enter your private key and for 3 cents (or 5 or 10) you can access the rest.  No registration, no monthly fees, no passwords.  It is as effortless as reading it for free now.

So the author gets paid and he is protected.  Because the person that bought that copy cannot copy and paste it and send it to everyone via email, or post it on a message board like MUscoop.  What they can do is “transfer” it to another.  But then it is gone from their computer.  It is the digital version of the dead tree newspaper.  I can read it and then hand it to someone else.  No photocopying it.

Why will you happily pay 3 cents (or 5 or 10) to read an article.  Think of all the monthly charges you pay for intellectual property.  Start with video (cables, netflixs) and then go to newsletters then newspapers (WSJ, NYT) and end with sites you pay for access (ESPN).  If you are like me you are way overpaying and it is probably in excess of $200 or $300/month.  All this goes away, including registration, passwords and monthly charges.  Instead you piece meal out 3 cents here, 5 cents here, 1 penny a minute to stream there.  You will pay a lot less every month.

And for the content providers, they have opened their site to the billion internet users worldwide.  When their work goes viral, they will get tens of thousands, or hundreds of thousands to pay them 3 cents.  Netflix is now open to a billion people that can enter their private key (in less than 2 seconds) and start streaming anything for 1 cent a minute.  No registration, no passwords. 

So when everyone says “Stranger Things” is really good.  No debating opening an account and the hassle of registering, remember yet another password, and entering a credit card.  Just click your private key and in 2 seconds you start watching for 1 penny a minute.  Dont’s Like it after 25 minutes.  Turn it off and you’re out a whole quarter!

By making things more efficient, users (like us) pay less and content providers (like Netflix and The NY Times) get a lot more.

It restores the value of intellectual property and stops pirating.

That is why it is a the biggest deal since the invention of the internet itself.

[MU82]

Okey dokey, Smuggles, you're in charge of saving the newspaper industry with bitcoin.

As Capt. Jean-Luc Picard used to say, "Make it so."

[WarriorDad]

For you Ripple guys, what exchange have you been using to purchase?

Bitfinex
Bitstamp
Bithumb
Binance
Bittrex
Poloniex
Kraken
Coinone
Other? 

For Bitcoin I have always used Coinbase, but would love some feedback on what exchanges you use for Ripple. 

[Eldon]

MU82 ... read the post above because the blockchain and cryptos could be the salvation of the newspaper industry.  Here’s how ...

You write an article.  You offer the first 50 words as a teaser, to read more, enter your private key and for 3 cents (or 5 or 10) you can access the rest.  No registration, no monthly fees, no passwords.  It is as effortless as reading it for free now.

So the author gets paid and he is protected.  Because the person that bought that copy cannot copy and paste it and send it to everyone via email, or post it on a message board like MUscoop.  What they can do is “transfer” it to another.  But then it is gone from their computer.  It is the digital version of the dead tree newspaper.  I can read it and then hand it to someone else.  No photocopying it.

Why will you happily pay 3 cents (or 5 or 10) to read an article.  Think of all the monthly charges you pay for intellectual property.  Start with video (cables, netflixs) and then go to newsletters then newspapers (WSJ, NYT) and end with sites you pay for access (ESPN).  If you are like me you are way overpaying and it is probably in excess of $200 or $300/month.  All this goes away, including registration, passwords and monthly charges.  Instead you piece meal out 3 cents here, 5 cents here, 1 penny a minute to stream there.  You will pay a lot less every month.

And for the content providers, they have opened their site to the billion internet users worldwide.  When their work goes viral, they will get tens of thousands, or hundreds of thousands to pay them 3 cents.  Netflix is now open to a billion people that can enter their private key (in less than 2 seconds) and start streaming anything for 1 cent a minute.  No registration, no passwords. 

So when everyone says “Stranger Things” is really good.  No debating opening an account and the hassle of registering, remember yet another password, and entering a credit card.  Just click your private key and in 2 seconds you start watching for 1 penny a minute.  Dont’s Like it after 25 minutes.  Turn it off and you’re out a whole quarter!

By making things more efficient, users (like us) pay less and content providers (like Netflix and The NY Times) get a lot more.

It restores the value of intellectual property and stops pirating.

That is why it is a the biggest deal since the invention of the internet itself.

What's prevents someone from taking a screenshot? (Or saving the webpage as a PDF)

[Tugg Speedman]

For you Ripple guys, what exchange have you been using to purchase?

Bitfinex
Bitstamp
Bithumb
Binance
Bittrex
Poloniex
Kraken
Coinone
Other? 

For Bitcoin I have always used Coinbase, but would love some feedback on what exchanges you use for Ripple.

I use Binance (Chinese exchange)

[Goose]

WarriorDad

I have been using Kraken. Not good, but got me into the game.

[forgetful]

What's prevents someone from taking a screenshot? (Or saving the webpage as a PDF)

There are thousands of ways to beat such a system.  People that think any type of new technology will stop piracy, do not understand history or technology.

[Tugg Speedman]

There are thousands of ways to beat such a system.  People that think any type of new technology will stop piracy, do not understand history or technology.

This is the problem with the internet, allowing the priating of intellectual property (which is a crime) to the point that people think it is a right to steal that property for free.

The blockchain, and the 1300 version of crypto currencies are trying to solve this problem.  It will happen ... don’t think linearly.  Otherwise you become a luddidite that still think your bank account will be hacked and all your money will be stolen.  That was solved and this will be too.

(One of the many ways to solve it, you will be charged for a screenshot.)

[Hards Alumni]

In addition, most people are willing to pay for content if the fee is reasonable, and easy to accomplish.

The possibility of me subscribing to MJS to read one article here and there is absurd.  Now, if there was a button on the page that said, "To continue reading further, I agree to send 1 XRP (or whatever crypto they are using)" I'd have a lot more chance of spending that money to read the article I want to read.  Price is low, easy to complete, and no one knows what I'm spending MY money on.

[Hards Alumni]

For you Ripple guys, what exchange have you been using to purchase?

Bitfinex
Bitstamp
Bithumb
Binance
Bittrex
Poloniex
Kraken
Coinone
Other? 

For Bitcoin I have always used Coinbase, but would love some feedback on what exchanges you use for Ripple.

I also use Binance for trades between cryptos.

[WarriorDad]

I also use Binance for trades between cryptos.

Thank you.  I signed up today.  Have been using Exodus as my digital wallet, but it doesn't currently support Ripple. 

[Tugg Speedman]

You Can Now Buy A Private Prison On Craigslist With Bitcoin

https://denver.craigslist.org/bfd/d/owner-financing60000-sf/6412537893.html

The facility is located in Brush, Colorado with an asking price of $1,200,000 or 88 bitcoins @ 13,650.23. And yes, the listing broker accepts bitcoin.

[MU82]

Uh-oh, bitcoin investors.

https://www.bloomberg.com/news/articles/2018-01-02/criminal-underworld-is-dropping-bitcoin-for-another-currency

Yep, it looks like the "criminal underworld" has lost confidence in bitcoin!

[MU82]

Merrill Lynch won't let its advisors by bitcoin on behalf of clients.

https://seekingalpha.com/news/3321069-wsj-merrill-lynch-bars-trading-bitcoin-fund-futures?ifp=0

[Tugg Speedman]

A cryptocurrency created as a parody is now worth more than $1 billion

* Dogecoin, a cryptocurrency created as a parody after a popular internet meme, now has a market cap of more than $1.1 billion
* The rise of Dogecoin and other bitcoin descendants is due to the fact that they're perceived as being "cheap" compared to bitcoin or ether, according to Dave Chapman from Octagon Strategy
* One of the Dogecoin founders told a cryptocurrency news site that the token's rise makes him worry about market excess

https://www.cnbc.com/2018/01/04/cryptocurrency-dogecoin-now-has-a-market-value-of-more-than-1-billion.html?__source=Facebook%7Cmain