Category: Bitcoin
The analysis published under this category are as follows.
Tuesday, December 19, 2017
Will the Bitcoin Bubble Last- Some Lessons From History / Currencies / Bitcoin
By: Steve_Marks
Everyone is talking about bitcoin. The new cool story in the news is an interview with someone whose friend gave them ten bitcoin for a present or to pay of food or gas on a trip, who is now putting a deposit down on a house. The explosion and growth of bitcoin has caught a lot of people by surprise and has left a number of people kicking themselves they didn’t pick some up when it was considerably cheaper than its current price of around $17,000 per bitcoin. It is incredible how much it has grown and it has spawned all manner of debate about whether it is a bubble set to pop or if it will just continue to grow and grow and grow before becoming one of the most valuable possessions in the history of the world.
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Monday, December 18, 2017
Bitcoin to Hashgraph: The Crypto Revolution (Hidden Secrets of Money) - Video / Currencies / Bitcoin
By: Submissions
Today, mankind stands at a crossroads, and the path that humanity chooses may have a greater impact on our freedom and prosperity than any event in history. In 2008 a new technology was introduced that is so important that its destiny and the destiny of mankind are inextricably linked. It is so powerful that if captured and controlled, it could enslave all of humanity.
But if allowed to remain free and flourish - it could foster unimaginable levels of peace and prosperity. It has the potential to replace many functions of Wall Street and even of government, as a tool to empower individuals. In the latest episode In the latest episode of Hidden Secrets of Money, Mike Maloney examines this technology and its incredible potential.
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Monday, December 18, 2017
Bitcoin Conspiracy Theory / Currencies / Bitcoin
By: Michael_Pento
If you’re like me you must be wondering why there is so much media obsession around Bitcoin even though its market cap is just $300 billion, which amounts to only about 1/3 the size of Apple Inc.? And, more importantly, why the U.S. Government and Federal Reserve have become so enamored with cryptocurrencies.
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Sunday, December 17, 2017
Bitcoin Smashes Through $18k… and Now $19k As Insane Jim Cramer’s “Kibosh” Threat All Hot Air / Currencies / Bitcoin
By: Jeff_Berwick
Many people thought that once bitcoin futures began trading on the CBOE that it would allow Wall Street to smash the price of bitcoin lower.
Or, as Jim Cramer said, “kibosh” bitcoin.
Of course, if you listen to anything Jim Cramer has to say, well chances are you’ve lost a lot of money.
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Sunday, December 17, 2017
As Bitcoin Breaks All-Time Highs Near $18,000 Its Future Has Never Been So Uncertain / Currencies / Bitcoin
By: Jeff_Berwick
Bitcoin has yet again hit another all-time high today of $17,645.89 on the Coindesk Price Index.
Yet, while much of the traditional financial world are piling into bitcoin, the direction of bitcoin has perhaps never been so unsure.
I’ve posited my conspiracy theory of how Blockstream and others may have surreptitiously hijacked bitcoin. But, whether that is the case or not, one thing is absolutely for sure; Bitcoin has changed dramatically in the last year from its initial intention and objectives as outlined by Satoshi’s white paper.
The title of the white paper itself, after all, was “Bitcoin: A Peer-to-Peer Electronic Cash System.”
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Saturday, December 16, 2017
Bitcoin Trading Alert: Bitcoin Pauses – Will Appreciation Follow? / Currencies / Bitcoin
By: Mike_McAra
Bitcoin was directly mentioned during Janet Yellen’s last scheduled conference as Fed chair. On CoinDesk, we read:
Yellen, whose term in office expires in February, spoke to reporters today on a range of topics. About thirty minutes into the presser, Yellen was asked about bitcoin.
She noted that, in the Fed's view, bitcoin "plays a very small role" in the U.S. payment system, going on to explain:
"It is not a stable store of value and it doesn't constitute legal tender. It is a highly speculative asset and the Fed doesn't really play any role, any regulatory role with respect to bitcoin other than assuring that banking organizations that we do supervise are attentive that they're appropriately managing any interactions they have with participants in that market, and appropriately monitoring anti-money laundering [and] Bank Secrecy Act responsibilities that they have."
Monday, December 11, 2017
Bitcoin can be stolen. Although Can’t be hacked / Currencies / Bitcoin
By: Raul_I_Meijer
Dr. D: Bitcoin can be stolen. Although “Bitcoin” can’t be hacked, it’s only software and has many vulnerabilities. If held on an exchange, you have legal and financial risk. If held at home, you could have a hard drive fail and lose your passwords. If it’s on a hardware fob like a Trezor, the circuits could fail. For a robust system, computers themselves are pretty fragile. You could write down your passwords on paper, and have a house fire. You could print out several copies, but if any of the copies are found, they have full access to your account and stolen without you knowing. You could have your passwords stolen by your family, or have a trojan take a screen or keystroke capture.
Monday, December 11, 2017
Trying To Beat The System Is A Fatally Flawed Investment Strategy / Currencies / Bitcoin
By: Submissions
Bill Cara writes: This week’s article will begin with a parable. Soon, however, this piece of fiction might become source material for a Harvard Business School case study.
So, recently there was a private members club with 99 men and women who had each paid $1,000 to join. At the first monthly meeting, somebody suggested it would be a good idea to top off membership at 100, so the call went out to their friends. Lo and behold, one person stepped up with an offer of $1,500 and the capital account grew to $100,500. The next month however another individual offered $2,000 to join and the members were elated to grow their numbers to 101 with the capital account now up to $102,500. Nobody complained the following month when another individual came forward with $2,500 to join, bringing membership to 102 and the capital account to $105,000. As the months flew by, there was always one more person who wanted to join, and the offers were up to $3,000, $4,000, and $5,000 in months 4, 5 and 6. The original members became giddy and decided to set the price higher by $1,000 each month, and each month a new member joined at the posted price. After a year, the membership was up to 111 and the members actually believed their memberships were worth $11,000 and so they valued their club at $1,221,000, putting it up for sale.
Sunday, December 10, 2017
Bitcoin Doesn’t Exist – Forks and Mad Max / Currencies / Bitcoin
By: Raul_I_Meijer
Dr. D: Well, all parts of the system rely on accurate record-keeping. Look at voting rights: we had a security company where 20% more people voted than there were shares. Think you could direct corporate, even national power that way? Without records of transfer, how do you know you own it? Morgan transferred a stock to Schwab but forgot to clear it. Doesn’t that mean it’s listed in both Morgan and Schwab? In fact, didn’t you just double-count and double-value that share? Suppose you fail to clear just a few each day. Before long, compounding the double ownership leads to pension funds owning 2% fake shares, then 5%, then 10%, until stock market and the national value itself becomes unreal. And how would you unwind it?
Saturday, December 09, 2017
Bitcoin Doesn’t Exist – Putting the Banks Out of Business / Currencies / Bitcoin
By: Raul_I_Meijer
Dr. D: The money, the unaccountable, uninhibited release of tokens can do more than just buy centuries of hard labor in seconds, it‘s also a method of control. Banks, our present issuers of money, can approve or destroy businesses by denying loans. They can do this to individuals, like denying loans to unpopular figures, or to whole sectors, like gun shops. They can also offer money for free to Amazon, Facebook, and Tesla, which have no profitable business model or any hope of getting one, and deny loans to power plants, railroads, farms, and bridges as they fall into the Mississippi.
Friday, December 08, 2017
Bitcoin Parabolic Mania / Currencies / Bitcoin
By: Zeal_LLC
Bitcoin’s meteoric skyrocketing this year has been astonishing, captivating traders across the globe. This once-obscure cryptocurrency has exploded into the world’s hottest market. With fortunes being won on paper, everyone is talking about bitcoin. But with its price shooting parabolic, unfortunately this wild ride has all the hallmarks of a classic popular speculative mania. And those all end badly, totally collapsing.
In the annals of financial-market history, the word “mania” is never used lightly. These are very-rare events where some market blasts higher so radically that it captures the popular imagination. The dictionary definitions of mania include “an excessively intense enthusiasm, interest, or desire” and “a pathological state characterized by euphoric mood, excessive activity or talkativeness, and impaired judgment”.
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Thursday, December 07, 2017
Bitcoin Just Smashed Through $12k… Wait, $13k… Now $14k… This Is Getting Ridiculous! / Currencies / Bitcoin
By: Jeff_Berwick
It was less than a week ago that we posted, “Bitcoin Smashes Through $10k... Wait... $11k! What The Fk Is Going On?”
Now, in the last 24 hours, it has smashed through $12k, then $13k and now $14k to a new all-time high over $14,200.
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Thursday, December 07, 2017
Bitcoin Doesn’t Exist – 2 / Currencies / Bitcoin
By: Raul_I_Meijer
Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1
Chapter 3 will follow shortly.
Dr. D: You have to understand what exchanges are and are not. An exchange is a central point where owners post collateral and thereby join and trade on the exchange. The exchange backs the trades with their solvency and reputation, but it’s not a barter system, and it’s not free: the exchange has to make money too. Look at the Comex, which reaches back to the early history of commodities exchange which was founded to match buyers of say, wheat, like General Mills, with producers, the farmers. But why not just have the farmer drive to the local silo and sell there? Two reasons: one, unlike manufacturing, harvests are lumpy. To have everyone buy or sell at one time of the year would cripple the demand for money in that season. This may be why market crashes happen historically at harvest when the demand for money (i.e. Deflation) was highest. Secondly, however, suppose the weather turned bad: all farmers would be ruined simultaneously.
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Tuesday, December 05, 2017
Bitcoin Doesn’t Exist / Currencies / Bitcoin
By: Raul_I_Meijer
A while ago, I asked a regular commenter at the Automatic Earth, who goes by the moniker Dr. D, to try and write an article for us. Not long after, I received no less than 31 pages, and an even 12345 words. Way too long for today’s digital attention spans. We decided to split it into 5 chapters. After we work through those 5, we’ll post it as one piece as well. Dr. D, who insists on sticking with his nom de plume, picked his own topic, and it’s -fittingly- bitcoin. A topic about which one can cover a lot of ground in 12345 words.
Tuesday, December 05, 2017
The True Meaning of Bitcoin's 'Success' / Commodities / Bitcoin
By: The_Gold_Report
Precious metals expert Michael Ballanger discusses Bitcoin, currency devaluation, and gold and silver. In the year 301 AD, the Roman unit of barter was the denarius, which had originally been 95% pure silver when introduced by Augustus at the end of the first century BC but by the time of Diocletian's rule, it had moved to 50,000 denarii to a pound of gold. Ten year later, it took 120,000 denarii to buy a pound of gold and by 337, that figure was 20,000,000. What had occurred in a mere 400 years was that a slow and agonizing erosion in the purchasing power of the Roman currency accelerated to full fiat disintegration and that complete and total disregard for the denarius was attributed as one of the underlying causes of the Fall of the Roman Empire. Nothing was more evident in the underlying rot permeating Roman society, economics and national security than the refusal by the Barbarian armies to accept anything but gold as payment for their leaving the Roman legions alone. Rejection of the currency of the Roman Empire was complete and irreversible.
Friday, December 01, 2017
Bitcoin Possible Correction / Currencies / Bitcoin
By: Mike_McAra
Bitcoin might be expensive according to Vítor Constâncio, Vice President of the European Central Bank. In his interview with CNBC, we read:
Investors flocking into bitcoin are taking a risk by buying at such high prices, the vice president of the European Central Bank (ECB) Vitor Constancio told CNBC Wednesday.
"It's a very particular asset, it's a speculative asset by definition looking to the developments in its price. Investors are taking that risk of buying at such high prices," Constancio noted.
Thursday, November 30, 2017
Long-tail Pin Bar On BTCUSD Daily Chart Suggests Trend Reversal / Currencies / Bitcoin
By: Submissions
Bartosz Kali writes: After a phenomenal and very surprising run, the price of Bitcoin in relation to the US dollar is showing signs of retreating into a inevitable correction.
On a daily chart of BTCUSD as shown by price data from Bitstamp, we can clearly see a long-tail Pin bar indicating a trend reversal.
Long-tail pin bars are usually an indication of a strong rejection of a bullish run by the market and it is very often followed by a period of trend reversal.
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Tuesday, November 28, 2017
Bitcoin $10,000 – Huge Volatility of Cryptocurrencies and Risky Fiat Making Gold Attractive / Currencies / Bitcoin
By: GoldCore
– Bitcoin tops $10,000, soaring more than 850% since beginning of 2017
– Irrational exuberance arguably main driver of price performance
– Google Trends shows search for ‘Bitcoin Bubble’ hit highest level this morning
– Buyers need to be aware of hacking and security risks
– Other primary risks to widespread adoption is volatility and liquidity risk
– World’s largest online trading platform IG Markets suspends BTC trading
– Volatility of cryptocurrencies and risky world of fiat make gold attractive
Sunday, November 26, 2017
Bitcoin Soars To Nearly $9,000 As Cryptos Continue Massive Surge / Currencies / Bitcoin
By: Jeff_Berwick
Another day, another $20 billion rise in the value of the cryptocurrency space.
Ethereum and Bitcoin Cash played a big role in the rise of the space as a whole over the last few weeks and most cryptos were heavily in the green again today. But, today’s big rise in the overall market cap of the crypto space is mainly attributed to bitcoin rising another 8% today.
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Saturday, November 25, 2017
Cryptocurrencies Continue To Break All-Time Highs / Currencies / Bitcoin
By: Jeff_Berwick
In the last 24 hours, cryptocurrencies have risen $12 billion in value to $264 billion.
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