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The Occult, Numerology & A Lot Pointing at an Event on August 10/11th
Take some of this with a grain of salt. But, as you know through my Shemitah analysis and digging into the occult signs, symbols, dates and numerology used by many of the satanic cabal that currently rule over this Earth that I do pay attention to these things. I also have one particular TDV subscriber in the Czech Republic who parses through a lot of this data for me… and what we have been uncovering about some sort of event on August 10th/11th is at least worth mentioning here. If something of interest does happen on this date then at least I can say I tried to tell you. And, if nothing happens, much of this information is interesting nonetheless. TISHA B’AV Tisha B’Av, the 9th day of the month of Av, which is the 11th month in the Jewish calendar (in Europe they would write this date as 9.11., this year 2019 in Gregorian calendar TISHA B´AV falls to August 10-11), is the saddest day in the Jewish calendar, on which the orthodox jews fast, deprive themselves and pray. It is the culmination of the Three Weeks (of mourning), a period of time during which we mark the destruction of the two Holy Temples in Jerusalem, the Solomon’s temple by the Neo-Babylian empire in 587 BC and Herod's temple by the Roman empire in 70 AD. It is crucial to note that this world is run by secret societies and at the very hard core of the secret societies is the Kabbalah. Kabbalah is the ancient jewish mysticism. It is a method of encoding information through a system of mathematics and numbers. It is some of the most ancient knowledge that man has ever possessed and has been kept secret and given only to those who proved themselves worthy through the process of initiation. Nobody today really knows where it comes from, it was here a long time before the jews came along, the jews just took it and preserved it. It truly is the hardcore of the secret knowledge, the metaphysics, the science that not even 0.1% of the today´s world population know anything about, Shortly to the symbol 911 and what it means in Kabbalah; Tisha B'Av is actually the Ninth of AV, the 9th day of the 11th month in the jewish calendar. In Kabbalah number 10 is the symbol of God's perfection and superiority. The satanists (what the people at the highest ranks of the secret societies like freemasons are) are literally very afraid of God, so they do everything to escape God’s supervision over their deeds , try to hide from Him and that is why they have this symbol 9 11 as the most satanic one, since they believe this symbol kind of “jumps over” or “skips” God, since God’s symbol of perfection and superiority in Kabbalah is the number 10. They jump over the number 10 or try to skip it, that is why 9 11… the Tisha B´Av holiday of the jewish calendar falls into the second half of July or first half of August in the Gregorian calendar. Some of the events that took place on Tisha B´Av in history: ● The First Crusade officially commenced on August 15, 1096 (Av 24, AM 4856), killing 10,000 Jews in its first month and destroying Jewish communities in France and the Rhineland. ● The Jews were expelled from England on July 18, 1290 (Av 9, AM 5050). ● The Jews were expelled from France on July 22, 1306 (Av 10, AM 5066). ● The Jews were expelled from Spain on July 31, 1492 (Av 7, AM 5252). ● Germany entered World War I on August 1–2, 1914 (Av 9–10, AM 5674), which caused massive upheaval in European Jewry and whose aftermath led to the Holocaust. ● On August 2, 1941 (Av 9, AM 5701), SS commander Heinrich Himmler formally received approval from the Nazi Party for "The Final Solution." As a result, the Holocaust began during which almost one third of the world's Jewish population perished. ● On July 23, 1942 (Av 9, AM 5702), began the mass deportation of Jews from the Warsaw Ghetto, en route to Treblinka. ● The AMIA bombing, of the Jewish community center in Buenos Aires, killed 85 and injuring 300 on July 18, 1994 (10 Av, AM 5754). ● The Israeli disengagement from Gaza began in the Gaza Strip, expelling 8000 Jews who lived in Gush Katif; August 15, 2005; 10 Av, 5765. ● Last year 2018 on Tisha B´Av on July 21st, we had a shooting in Chicago. It happened at 10:30am when the arms of the clock point at 11 and 6, the upside down 911. Tisha B´Av this year is the numerical value of the number 58, 11+8+20+19, 58 is very symbolic number for freemasonry and other occult or secret societies. Donald Trump is also connected to this number, we will devote some attention to this number with relation to Donald Trump later below, furthermore the word TRUMP equals 222 in „reverse satanic“ style of gematria. August 10th is the 222nd day of the year. Moreover, some numerologists are saying that the most satanic day in the year from the number point of view is June 6th, like 6/6. For example, last year the merger of the two giants, Monsanto and Bayer , deal for $66 billion USD, was allegedly signed on 6/6/18 (18=6+6+6). Now if you add 66 days to 6/6 (June 6th), you’́ll come to August 11th, TISHA B´AV of 2019. This year we had a ritual on 6/6, with all the world’s (mis)leaders in Normandy, France, the 75th anniversary of the Normandy landing of the allies in 1944. On CNN they put some headlines in quotes, like “NORMANDY ANNIVERSARY” which equals 222 in ALW Kabbalah style of gematria (the beginning of Tisha B´Av this year is in the evening of august 10th, the 222nd day of the year). They also posted, “NORMANDY D-DAY” which equals 118 in both ALW and KFW Kabbalah styles of gematria. Maybe they are pointing to august 11th as much as they can, since 11.8. is the way August 11th is written in Europe. AUGUST 11TH The date 11.8. is also like 11+8 = 19, we are in the year 19, 19 matches CHAOS is gematria, in reverse it is 91, matching PHOENIX. It is also like 11x8=88, which is the symbolic number of Trump, in other words the “super time number.” The number 11 in Kabbalah is representing duality, shattering and the initiation into the mysteries of religion. September 11th was permeated by the number 11 like no other event in known history. 11 is also represented by the twin pillar of Jachin and Boaz, which stood at the entrance of Solomon’s temple. Number 11 and its multiples are the master numbers in numerology, they do not get reduced unlike the other numbers, which can be reduced. The number 8 is the number of time, represented by the hour glass, the infinity symbol and the Ouroboros biting its own tail. Number 8 is also the symbol of the Magician tarot card, the Magician is always depicted with the number 8 above his head and with the hourglass on the table in front of him. 1+1+8+2+0+1+9=22 22 is the “master builder number”, freemasons consider themselves to be THE MASTER BUILDERS. Also, there is 22 books of revelation, this date august 11th seems to be very much entangled with eschatology or the end times. Haarp’s patent day is August 11th 1987. It will be exactly 32 years on august 11th 2019. The 32nd degree is the highest degree of initiation of the Scottish rite of freemasonry, the most used rite among the Jewish freemasons. It has 33 degrees, but the 33rd degree is the so called “honorary degree”, the masons in the 33rd degree are bestowed this kind of degree as a credit for what they have done for freemasonry in their life or even after they die. No higher initiation into any more “sacred knowledge”, the highest degree of initiation is the 32nd degree. The formation of AL-QAEDA was on 11.8.88 (1988). This year on August 11th 2019 it will be exactly 31 years. 31 is the 11th prime number and also 13 in reverse, 13 is the biblical number of rebellion. AL-QAEDA matches 58 in gematria (words matching this number will be named later on) and also 888 in gematria, matching DONALD J TRUMP, EMMANUEL MACRON, JESUS CROSS, DEUTSCHE BANK Also, 11.8, 1919 the new German constitution was adopted, founding the Weimar Republic. This act lead Germany shortly after the first world war and a downwards spiral of hyperinflation, consequently into a nazi overtake, and ultimately into the second world war. DONALD TRUMP With the connection of building the third temple in Jerusalem at this time, the third year of the reign of Donald Trump as the new “King Cyrus” (the third year of the reign of King Cyrus is being described in the bible), and along the fact this year being very, very important for the satanic rulers on its own, this year TISHA B´AV on August 10th-11th 2019 seems to be a quite probable date for some kind of event of 911 importance. The state of Israel just celebrated its 71st anniversary on May 14th this year. 88 days later we´ll come to August 10th, the beginning of TISHA B´AV. 88 is the symbolic number of Trump (the re-incarnated King Cyrus): ● Trump spent 88 million USD of his own money for his campaign ● Trump had 88 offices across the US during his presidential campaign ● Trump had 88 events or campaign stops during his campaign ● Trump had the number 88 on his podium everywhere he spoke during his campaign ● Trump had 88 military advisors, retired admirals and generals who supported him in his campaign ● Trump’s slogan “MAKE AMERICA GREAT AGAIN” equals 808 in numerology. For those who missed Christine Lagarde’s lecture on numerology, zeros are ignored in numerology ● Trump’s slogan “STRONGER TOGETHER” equals 88 in two gematria styles ● Trump’s cousin Thomas P. Trump , due to which Donald Trump was being mocked during his campaign, died exactly 1 year before Trump's inauguration day, 20. January 2016, 88 days before he would be 88. ● The movie Donnie Darko, predicting Trump's victory, where the main character kind of symbolizes Donald Trump, and the movie talks about time travel and the year 1988, is overloaded with the symbology of the number 88 ● The word “Trump” matches 88 in gematria in the „english ordinal“ style, the most basic numerology style, where A = 1 and Z = 26, DONALD J TRUMP equals 888 in english-sumarian style of gematria ● Trump’s mother, Mary Anne MacLeod, died when she was 88 years and 88 days old Donald Trump, in esoteric circles, is always compared to King Cyrus, or Cyrus the Great, the king of Persia, who released the Jews from the 70 years of captivity in Babylon, gave them back the city of Jerusalem and built a wall around it. Netanyhu even compares Trump to Cyrus. When Trump was selected the US president, the state of Israel started minting coins with the king Cyrus and President Trump together on one coin. If we just for a while accept the notion that Trump is the reincarnation of the King Cyrus, (now taking into account the fact they truly look alike…), we should also look at some potential other connections and similarities between these two leaders and maybe try to make some predictions of what might be happening in the near future… Now let’s look at the bible, New King James Version, Daniel 10: Daniel 10 New International Version (NIV) Daniel’s Vision of a Man 10 In the third year of Cyrus king of Persia, a revelation was given to Daniel (who was called Belteshazzar). Its message was true and it concerned a great war.[a] The understanding of the message came to him in a vision. 2 At that time I, Daniel, mourned for three weeks. 3 I ate no choice food; no meat or wine touched my lips; and I used no lotions at all until the three weeks were over. So now we are in the third year of Donald Trump (reincarnated Cyrus the Great???) presidency, who is compared to King Cyrus in many esoteric and historic aspects, and we are nearing the “three weeks of mourning.” The three weeks of mourning are between the 17th of Tammuz (when the walls were broken down, the breach was made, when they were coming over to take over the temple and siege Jerusalem) and Tisha B´Av (the destruction of the two temples, Solomon’s temple and Herod's temple), meaning this year, 2019, between July 21st and August 11th in the Gregorian calendar. August Eleventh is like 11.8.2019, or 11+8+20+19=58. 58 is the number very much connected to the freemasonry other occult or secret societies. Let's look at some words matching the number 58 in numerology: JERUSALEM, THIRD TEMPLE, SOLOMON’S TEMPLE (the 1st temple that got destroyed on Tisha B´Av), HEROD'S TEMPLE (the 2nd temple that was destroyed on Tisha B´Av), RED HEIFER, FREEMASONRY, ROSICRUCIAN, SECRET SOCIETY, SCOTTISH RITES, DOLLAR It is important to note that Donald Trump won the 58th presidential election in the USA, his inauguration date was 20.1.2017, 20+1+20+17=58, Trump Tower has 58 floors. Trump announced he would be running for candidacy from the 58th story of the Trump Tower. August 11th is 58 days after Donald Trump’s birthday (June 14th). Donald Trump was in Israel at the exact place where they plan to build the third temple, on May 22nd 2017 (another very ritualistic day for the freemasons), exactly 811 days before 8/11, or august 11th 2019. PREDICTIVE PROGRAMMING THE SIMPSONS: The episode “APOCALYPSE COW,” quite clearly symbolizing the RED HEIFER, (154 in gematria, matching TEMPLE MOUNT, RITUAL SACRIFICE). RED HEIFER, which birth was announced by the Temple institute in Israel on September 4th 2018, a day that leaves 118 days till the end of the year, later was celebrated in Israel on 9/11/2018. The date the Red Heifer was actually born is reportedly on August 28th 2018. August 28th 2018 is like 28.8./2018, or 2+8+8=18, 1+8=9, then the year 2018 is like 2+0+1+8=11, so hidden 9/11 in the date of the Red Heifer’s birth. The birth of the red heifer is a biblical sign of building the third temple, the third temple should be built at the time when the MESSIAH comes back to planet earth, the messiah is said to come back “through the Golden Gate”. The Simpsons’ “APOCALYPSE COW” is the episode 17, Season 19 (season 19, do they point to the year 19??? btw. „AUGUST 11“ is 19 in gematria matching CHAOS, and also equals 91 matching PHOENIX), episode 17 (1+7=8, do they point to the 8th month of the “season” or year 19?). “Apocalypse Cow” came out on April 27, 2008. 2008 was a leap year, so April 27th was the 118. (11.8.) day of the year. Again, it is 11 years ago when this cartoon was put out… THE GRIM REAPER There is a video of Grim Reaper standing in the dress of Satan next to the San Francisco Golden Gate bridge, nicely done predictive programming, this video came out July 24th 2018, exactly 1 year and 18 days before August 11th 2019. 1 year 18 days. We are dealing again with the predictive programming of 118… PACIFIC RIM In this movie, which is all about a tragic events and the main one is the destruction of the GOLDEN GATE BRIDGE IN SANFRANCISCO, it shows on the scene when the bridge is being destroyed the date August 11 2013, at 9:32am (923 and its variations are the new satanic code for some kind of tragedy events). Maybe just a coincidence… SAN FRANCISCO GOLDEN GATE BRIDGE It is said that the “third temple” should be built at the time the Messiah comes back. Also, the story says that the Messiah will come back through the “Golden Gate”. The Golden Gate Bridge in San Francisco kind of shares the name with the Golden Gate in Jerusalem. That is the eastern gate of the Temple Mount, where a divine presence used to appear and will appear again, when the Messiah comes, and a new gate replaces the present one. It is important to note that Donald Trump won the 58th presidential election in the US, but is actually the 45th president of the US, since some presidents made two terms. Let's look at some word or word connections having 45 in gematria: GOLDEN GATE, HOLY BIBLE, BRIDGE, MIKE PENCE, BITCOIN Now the current mayor of San Francisco is the 45th mayor of San Francisco, and she is turning 45 years old on August 11th 2019. Her name is London Breed. Lets look at the gematria of her name: LONDON BREED 54 (45 in reverse), 317 matching SATURN, MESIAH, BITCOIN, 216 (6X6X6), 33 The construction of the Golden Gate Bridge started on January 5th, 1933. 1/5/1933 is like 1+5+19+33=58 NUMEROLOGY It is important to note that numerology belongs to the esoteric science by which all the secret and occult societies are literally obsessed! Next to the geometry or mainly sacred geometry and architecture, math, astrotheology, it is fair to state that numerology is probably the most important one of all of the teachings in all of the mystic schools. It is not the right time now to explain why it is so, it is just important to note that it is a fact. The cabalists and high ranking members of secret societies are convinced that words with the same numeric values are having some kind of interconnection or kind of the same vibrational frequencies and therefore kind of a same meaning or purpose in this material world, or the matrix we are living in. The core of numerology is that these people believe that God created the world by merging the letters with the numbers and vice versa. So, let’s get technically into it and see some other correlations and predictive programming, since we know very well that the powers that should not be, according to the cosmic rule, HAVE TO ANNOUNCE THEIR PLANS IN ADVANCE, OTHERWISE IT WILL NOT COME TO FRUITION! If we are really talking about some event on a biblical scale, that could really be called 911 2.0, there really has to be something for those who have “eyes to see and ears to hear…” August 11th 2019 is like 11+8+20+19 = 58 Let’s look at some words matching the number 58 in numerology: JERUSALEM, THIRD TEMPLE, SOLOMON´S TEMPLE (the 1st temple that got destroyed on Tisha B´Av), HEROD’S TEMPLE (the 2nd temple that was destroyed on Tisha B´Av), RED HEIFER, FREEMASONRY, ROSICRUCIAN, SECRET SOCIETY, SCOTTISH RITES, DOLLAR, GREGORIAN, CALENDAR, ZODIAC, STARS This year the most significant freemasonic ritual was undoubtedly the burning of Notre Dame. Interestingly, the 15th of april, this ritualistic day, is exactly 118 days before August 11th, or before 11.8. Coincidently, april 15th, 15.4.2019 is like 15+4+20+19=58, the same value as August 11th 2019. There was also one other satanic ritual this year, the so called “Christchurch shooting.” It happened on the 15th of March 2019. The zip code for Christchurch is 8011 (8/11). Interestingly, 2 mosques were attacked by the shooting as well as two temples were destroyed on Tisha B´Av. Coincidently the word connection CHRISTCHURCH SHOOTING is 118 in „jewish reduction“ style of numerology. The Christchurch shooting happened on 15.3.2019 , it is like 15+3+20+19=57, the same as August 10th, or 10.8.2018, which is like 10+8+20+19=57, some other words matching 57 in numerology: JEWS, MOON. 11th of August is the 223rd day of the year. 223 is the symbolic number of SKULL AND BONES. There are some words and word connections matching 223 in gematria: THE SYNAGOGUE OF SATAN, MASONIC, GOLD AND SILVER STANDARD, GOLDEN GATE BRIDGE, NATURAL DISASTER, SAN FRANCISCO BRIDGE, LET HIM WHO THAT HATH UNDERSTANDING COUNT THE NUMBER OF THE BEAST. On May 14th, 2019, the state of Israel has celebrated the 71st birthday. Words like TEMPLE, TALMUD equals 71 in numerology. May 14th is the 134. day of the year. Some words matching 134 in numerology: TISHA B´AV, NINTH OF AV (the same as TISHA B´AV), NETANYAHU. From august 11th till the Netanyahu’s birthday on October 21st is exactly 71 days. The major satanic ritual of this century was undoubtedly 9/11, or September 11th, 2001. From that day till August 11th 2019 it is exactly 17 years and 11 months. In numerology, the master number 11 and its multiples do not get reduced, the other numbers can be reduced. 17 years and 11 days. 1+7/11 is like 8 and 11 to the day 8/11. The word DEATH equals 118 in “JEWISH” style of gematria. 222 CONCLUSION You may have read all that and just think I am crazy. But there are a lot of people who put a lot of work into decoding these things and it is very interesting information. So, will something major occur on August 10th or 11th? And, if so, what will it be? I’ll leave that up to you to ponder on but there is enough evidence pointing to those dates that I felt I should at least make you aware of it. Other dates that have similar programming include September 23rd and/or November 23rd. I’ll keep an eye on those dates as well but we are thinking those dates are more likely to be of importance in 2022 or 2023. This is all just information. Do with it what you wish. But, as I said, at the very least it is very interesting! Source:https://dollarvigilante.com/wp-content/uploads/2019/07/JULY-2019-Dispatch-PREMIUM.pdf
Lessons learned - Crypto and Divorce - In January I was a millionaire thanks to BTC, then my wife divorces me and now I have $30,000 AMA
Crossreferencing u/nanoissuperior He wrote earlier today: https://www.reddit.com/CryptoCurrency/comments/a3n6uw/in_january_i_was_a_millionaire_thanks_to_nano_now/ Title: In January I was a millionaire thanks to Nano, now I have $25,000 AMA I was replying to his post, but my reply ended up being a bit too large as a reply and steered off-topic, albeit an interesting one. So I decided to make it its own post, because there may be a good lessons to be learned and hoping some will come forward with good information to be shared. I hope it can help anyone on this sub avoid the costly mistakes that I made. Here it goes: FLAIR: LEGAL (not in the list) ---- u/nanoissuperior are you who I think you are? I won't give out any further identifying clues, but I happen to know someone in the exact same position that could have written that exact same headline. If you read the first paragraph, you'll know if you know me. The person I know bought Nano really early, based on a tip from a friend. I got in much later. By the time he told me it had already spiked to the $5 range, when I ended up buying. I then sold in the $20's so it was a good buy nonetheless. We were former colleagues at a large, large software company somewhere in the PNW, I left the company to venture out on my own and try to launch some projects I had in mind and relocated overseas for a few years. We lost contact with each other during my time away, but we connected again during the market runup and started exchanging coin information on a daily basis during the big bull run of late 2017. That was a crazy time.... the market trend was a few degrees short of vertical for pretty much all coins! Hey, guess what? Now that I think about it, I could have written that same headline myself! In January 2018 I was a Millionaire too! Not with Nano, but thanks to purchasing a good chunk of Bitcoin in 2011 at $1.20 each. I ended up a single digit millionaire with what I had left in Bitcoin around January of 2018. And, just like you, today, from all that wealth, I have about $30.000 left, with little to show for. Can we call that even? Although my disaster was not caused entirely by market fluctuation; Mine is a more complex story and I am going to mention it, because hopefully, it could serve as a lesson to be learned for any crypto holder out there, so they don't make the make mistake I made: Don't trust anyone. Always be skeptical and watch out for your own interests. Anyhow, here it goes: After 5 years overseas, I had enough and wanted to come back to the States. My wife stated her preference to stay abroad, but eventually, she conceded albeit reluctantly. We chose a small town in CO to settle, and landed in November of 2017. We had plans to settle down and considered purchasing a home with my/our new fortune, based on the market price during that period. At the same time, I was also hesitant about the inherent tax payments due caused by such large liquidation. I was trying to have to pay taxes as far away as possible. So, I decided to wait till New Year's Eve and started liquidating my crypto on January 1st, 2018 right after midnight. This way, I would have 16 months (till April, 2019) to pay any capital gains taxes, and I was confident at the time that the market would give me that for free, especially at the pace that it was going. I have been an early adopter and have since then acquired the high levels of verification and trading limits per week, with many exchanges, but for a large sum like this, I needed several separate transactions, over the course of several weeks, especially wanting to do it with a US-based exchange that was linked to a US bank accounts, to avoid overseas wire transfers, meaning more fees. (Yes, I did look at all OTC options, but for reasons not relevant to the story, I couldn't make it happen, so I had to use the traditional Exchange channels for asset liquidation). My wife and I, initially had some fundamental disagreements on the gross amount to be spent and the type of property we should be purchasing. I wanted a smaller place, with a denser, younger community, where there'd be kids our son's age for him to play. She insisted that we should go big; we had been traveling for so many years, and we had not been able to call any of our past residences our home. It was time to settle and nest; She convinced me that we should own a property of our own that we would be proud of living in for years. One that we could own outright and would not easily outgrow. We ended up splurging and purchased in cash two luxury cars for ourselves and set our sights on a large dream house in the city's Golf & Country Club, free and clear, for us and our two kids. I don't even play golf, nor do I even like it, but, if it makes her happy and it is within the safe margins of making it happen, I figured, why not? My concerns were largely financial and the numbers were adding up. It was a bit tight against my personal safe margins, but, at the same time, I was imagining to never have to make, or even have to think about, a car or home mortgage payment ever again! Bitcoin is on a roll and there is no sign of it stopping. Fine. Let's do it, before I change my mind. Now, I admit I was extremely lucky with choosing the time of when to sell the assets. I had no clue the market would take a dive in February, and so it seemed to many that I had timed the market perfectly, selling most of my coins in the first two weeks of January of 2018. Many called me a genius for selling at the very top, as if I had some sort of wisdom to know when it would drop; the truth is much less flattering; it was nothing but dumb luck, based on me wanting to pay taxes in 2018 and defer to 2019. Awesome, well done! Yeah? well, slow down, son, not so fast. So, I gather the 7-digit lumpsum in January 2018 and we write a check for the full amount at closing in February on the property of her dreams. A property that could easily be showcased on a luxury Real Estate magazine cover. Also, remember we had just moved back to the United States with just a few suitcases each from overseas. We had no furniture, kitchenware, curtains, TV's, bed sheets, winter clothing and so many other essential things that one usually purchases over time, but which we now had to purchase all at once. Not a problem, Bitcoin had dropped slightly but still well above $15k, I believe, at the time. And, earlier, in January, I had diligently taken this expense into account and effortlessly set aside a small fortune for equipping such a large house with everything we would ever need, brand new. It seemed we were protagonists of one of the Home Makeover Shows. Finally, after working day and night, prepping the house non-stop for days and when every piece of furniture had finally arrived, been unpacked and carried to its corresponding room, it seemed most of the essentials were in place and the hard work was done. I longed for pouring myself a Scotch and to finally sit down and enjoy the fruits of my labor. I head downstairs to the dedicated walk-in, cigar-humidor / wine / Scotch cellar in the basement and grab the better bottle of Whisky of the few bottles of Scotch that I had bought earlier in the week. On my way up, I remember feeling a sense of calm, combined with a glow of excitement and this undescribable profound inner peace, all at once. This was such a rare, natural, non-drug induced high that I had never experienced. It felt so good! This sense of accomplishment of achieving that one thing I had been chasing and longing for my entire life. I had expected I would be chasing this goal for the next 15-20 years, and yet, here it was. No, where I was, was even better than expected! A place where not even my parents, who still have to make their monthly mortgage payments. I had done it! With a smile from ear to ear, I take a deep breath of relief and while looking around the property, I think to myself: "It's perfect, everything is in place and I can finally call this our home. We are so lucky and we are going to live a great life. A life that few can only dream of. So many concerns will be lifted and become redundant. Everything will be better. I'll start a fire in one of our two fireplaces and I am going to begin enjoying my semi-retired life with the first sip of my drink. That will be the official start of our new life". I head over to the kitchen to get a glass and some ice cubes, while I struggle to find which one is the freezer among the many drawers in the kitchen. It was then when I notice a handwritten note placed front and center on the kitchen counter. It is from my wife and read: "There is no easy way to say this, so I am just going to say it..... I want to legally divorce [ ...]". It continued saying that she had taken our son, and had unequivocally decided to leave me. She had already filed the paperwork for divorce and that I should expect to be served in the morning. My bliss had lasted less than 5 minutes and in less than two seconds, it turned dark, somber and I saw it all crumbling down in front of me. Like a long-awaited rocket launch, years in preparation, which then unexpectedly explodes on the launch pad during the countdown. My stomach, heart and everything in my body just sank and melted into one ball of poison in my core. I felt like throwing up. I was completely blindsided; she had played the game all along, not giving me the slightest hint of what was being concocted in the background. She had already engaged with her lawyers weeks beforehand. Her mother was already in town from another state to help out with I don't know what. I had been gaslighted and was threatened by her that I needed to see a psychiatrist due to a change in my temper that I had supposedly developed - my temper was awesome: with BTC at that price? Everything was perfect! But I obeyed and went anyhow (this would later fit her story that she had to leave with the child because she feared for her safety due to my supposed temper for which I was under treatment, therefore, I must have this temper problem, see?). Also, the purchase of the overpriced home also seemed clearly premeditated: Price was the main driver of the decision making; not location, demographics, taxes, etc. It was the wrong neighborhood for us (people much older than us, retired, golfers and no kids the same age as our son to play with). Our house happened to also be the most expensive in the neighborhood. I can see it all so clearly now. See, your crypto coins on the blockchain, are not within the US court's jurisdiction (or, at least, it's quite debatable - a gray area - ask me for the seed and I can tell you that I may have the seed, or that I may not have the seed, I may have the wrong seed, I may have forgotten it, I may have lost it - you can't prove I did not forget, or lost it, etc). However, once it is in FIAT in a bank, or invested in a property, the courts can rule on the asset(s), freeze, disburse or order a sale of the property, etc. It's done all the time. Also, the coins were technically mine, and by definition private property (not to be divided during the divorce) as they were acquired before the marriage. I could not prove its origins (I bought many of them via direct messaging members on Bitcointalk.org and mining rather than exchanges, so no records, receipts or nothing to prove otherwise: the big exchanges like BitStamp and Coinbase didn't start operations till 2013, if I m not mistaken. Instead, I would talk to one of the forum members offering coins we'd agree on a price, I'd send a check to wherever the individual seller instructed me to (Russia, Bulgaria, Japan, UK. etc) and the coins would be deposited to whatever address I provided. Yes, it was quite crude at the time. However, once I converted my coins to cash and used that cash to buy a property for the benefit of the family, it became common property and thus she then had rights to a portion of it when divided between the two parties should a divorce occur - which ended up being almost 3/4 of all assets. I was robbed in broad daylight. By the one person, I trusted with my life. The one you should trust with your life. Your life partner. And while I was in complete denial, trying to bargain, I waited too long to obtain good legal representation. When I finally ended up getting a lawyer, I was quite distraught and I clearly did not do the proper research and this resulted in a less than stellar performance and detrimental to me at many key steps in the process. I had to switch legal representation right before mediation and I can't blame my new lawyer either, as (s)he did not have the required time to catch up on all the details, (s)he did his/her best, but I was ultimately strongarmed into conceding my soon-to-be-ex-wife to let her return to the house, in exchange to obtain 50% of my son's custody, with serious and strict clauses I had to abide by. So, I had to move out, find a hole in the wall in a student apartment, pay my rent and pay our kids pre-school, while she lives grandiose, without monthly payments in the country club, till the house sells, which will likely be in the spring of next year. Nice! Due to my delay, legal mishandling and somehow every other element in her favor, she inexplicably ended up with around 3/4 of the worth of all assets, free and clear, no taxes due. Mind you, she has never financially contributed, nor made a single $ during our entire marriage. She has never worked and had $0 in her pocket when we married. She didn't even have a checking account, well in her thirties. She is no dummy; she is street smart, knows how to manipulate people, get her way with flirting and charm, while I am more intellectual and book smart. and She beat me hands-down. She is walking away with a sum of, not quite 7 figures, but close. With what I am left with from the sale of the house, I am responsible to pay for all the capital gains taxes from the liquidation to the IRS, which are due in April 2019. I don't expect there to be more left over than the estimated $30k mentioned above. Hate the market all you want, I made peace with the market and am keeping busy at hating my ex for a while for putting me in the same situation. She tripped me 1 yard before the finish line and pushed me in the prickly bushes, to cross it by herself. Go figure. When I am done hating her, I'll get back to rebuilding my life again from scratch. I am not worried, I have done it before. Just pissed, I was so close and that I was so naive to not see it coming. Sorry, I am not meaning to hijack the thread, just wanted you to know that others may have lost more than just "free" money; money we didn't really have to work for. We were the lucky ones. It is what I keep telling myself to stop me from jumping off a bridge. PS - Woah: Sorry for the wall of text; I was just going to write the first paragraph and ended up venting about my current situation. I know, I should take this issue to /depressed, /exes or /whereisthenearestbridgeIcanjumpfrom. Hopefully, this can be a lesson to those holding crypto and some can learn what NOT to do. I learned the hard way and was left with nothing. Don't be a nice guy. Don't trust anyone with your crypto. Anyhow, I am sure either our vigilant subreddit bot, or one of the mods will remove my post for not adhering to rule, and if not, I am sure that you fine people will downvote me to hell. Go ahead. Take away from me the little Karma I left too! Thanks! I learned many lessons, but here are some key ones [IANAL - any crypto-educated AL opinion appreciated here, thanks] : - Understand the concept of private property - property you acquire before getting married. INAL - this depends on the state legislation, but it is hard to prove with crypto, especially if you obtained your crypto through foreign exchanges, outside of legal jurisdictions, the petitioner might not understand or willing to invest in obtaining subpoenas and requests to businesses operating overseas, as this may result costly. - Get a lawyer who understands, or is willing to understand crypto, its benefits of being somewhat unreachable and how that can work for you. Don't let them shortchange you with: "well, let's just convert the rest to cash, because that I understand" type of reasoning. - If you do go to mediation, the above applies as well. This arbitrator or mediator needs to be one that understands the intrinsic details of crypto - for example, during the ATH, I bought 6 digits worth in $USD of Stellar. I used the very first version of the software, supporting Stellar on my hardware device, and put it all in a cold storage wallet somewhere around January. I routinely checked on my coins on the blockchain and they are there. A few months later, I try to access my account and the device returns a different public address, which contains 0 funds. I am still trying to debug this issue with the manufacturer, but the fact is that I was accused of hiding these coins or negligence and was demanded that I paid half of what was lost. or not lost, out of my pocket for money that I didn't have access either. I tried to explain it in the simplest terms, there are risks involved with using first come software. There is no 1800 number, mo tech support. no CEO, no, you can't call the BBB and complain, etc and no one seemed to be able to understand, nor willing to either. It became a huge roadblock for which I had to concede, not cash, but a concession, I was not wanting to concede. The petitioner leaned on the fact that I was either wilfully cheating or stupid enough to lose the coins and managed to create enough doubt in my character and integrity and there was nothing rational I could explain that she, or anyone else in the room would understand. Perhaps mutually contracting a seasoned crypto expert that can offer a neutral view and give his/her opinion might be worth considering. Andreas, where were you when I needed you? :) - Other examples were some coins I had bought in 2012 and gifted to some of her family's kids. I was holding these, till they would turn 16 for them to pay themselves their college, or so I told them. These coins were demanded back by the petitioner. Ok, I suggested that I would send them, but with a CHECKLOCKTIMEVERIFY value with a block height of let's say,10 years from now, out of fear that she would spend the coins and the kids would never know (they are toddlers). No one understood what I was talking about, I was made out the crazy one, I gave up, sent her the coins, unlocked and, just as I expected, within 20 minutes of receiving them, she spent $1200 worth of it (for a flight, I think). If you are the only one speaking your language, no one is willing to listen or make an effort to understand you. - It appears my coins were private property, which means, that I acquired them before the marriage and in case of divorce, if I have not moved them or used them for the common good of the marriage, then they remain mine. However, I liquidated them and cash ended up in my checking account to be used to buy groceries, cars and eventually a house, and it is then that they became common property. Only once they landed in my checking account on which she is named on. It appears that had I taken proper legal precautions with documentation, or a company/trust, where that money would have gone, instead of my checking accounts, elsewhere, I would have still been able to be the legal proprietor of the resulting cash. I can't quite remember the details, but it as something that was explained to me afterward, and I honestly think I just tuned it out, because it made me sick to know I could have held on to my wealth. Perhaps a lawyer can chime in? Again, much of the lack of information and every misstep taken was because of dealing with people that are accustomed to traditional assets and will not deviate from it. Crypto is different and is treated differently. It is so important to know the strengths and weaknesses when going into litigation about something that people don't understand. - Some more I can think of, but this post is getting way out of hand in size. Feel free to comment/suggest your own and I'll add more to the comments. Credits to: u/nanoissuperior Thanks for your post, it inspired me to write this one. Anyone, any karma you feels needs to go his way, for providing the source of inspiration, please give to O-OP. TL;DR: Wife, having contributed $0 during entire marriage, waited until I cashed out all my crypto at the top of the bull market in January 2018, for a nice seven-figure amount, and then immediately divorced me for the money. Edit: added TL;DR
Litecoin Support Phone Number +1(855)3008358 (Toll-Free Number)
Litecoin was released in October 2011 in the form of a client with an open source code on the Internet hosting GitHub by Charles Lee, a former Google employee. The crypto currency works according to the MIT/X11 license, which allows anybody to execute, modify and copy software as well as to distribute any modified copies. It was a fork of the Bitcoin-Qt client, differing primarily by having a decreased block generation time, increased maximum number of coins, different hashing algorithm, and a slightly modified GUI. The Litecoin exchange rate gave a jump in November 2013: the capitalization of crypto currency exceeded 1 billion dollars.
Advantages and Disadvantages of Litecoin
It is an open source project.
Litecon is little faster than Bitcoin.
Transaction fee is almost zero.
All hardware wallets supports Litecoin.
As it was created by a former Google employee, which means reliable and more secure than the other cryptocurrencies.
Segwit has recently been included in Bitcoin that means advantage in Litecoin over Bitcoin is reduced.
Client code is not maintained properly.
Litecoin (LTC) is a decentralized cryptocurrency, a fork of Bitcoin intended by its designers to be more feasibly mined using consumer-grade hardware. Litecoin is a peer-to-peer crypto currency that was developed on the base of Bitcoin and has an open source code. Unlike Bitcoin, the Litecoin blockchain is able to process a greater number of transactions. The creator of Litecoin – Charlie Lee, a former employee of Google – took the Bitcoin source code as a basis and created a crypto currency that needs 2.5 minutes to generate a block – this is 4 times faster than Bitcoin.The full emission of Litecoin makes out 84 million coins, which is also 4 times more than of Bitcoin. The start reward for a block made out 50 Litecoins, and now it is 25 Litecoins.
Features of Litecoin
Transaction confirmation is faster
Increased storage efficiency
Coins to reward miners
Some common issues of Litecoin, We fix-
Trouble signing in on litecoin.com.
Unable to sell and buy Litecoin.
My password does not work.
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Two-factor authentication failed.
Connectivity Issues or “Connection Error”
Unable to open the Litecoin wallet.
You can contact us for your queries and problems you faced during using litecoin on toll-free number : +1(855)-300-8358
Nowadays, the Bitcoin currency rate perhaps is the most unpredictable thing. All predictions about how BTC price will increase or drop are in some way similar to the weather forecasts. No one can tell what will happen to the coin tomorrow. One of the most important factors that experts rely on is the history of the currency rate over the whole period of BTC existence with its dynamics. It is essential to know what was happening to the coin as this allows you to understand what can happen to it in the future.
The first digital currency – Bitcoin – came to the world on January 9, 2009. In the same month, the creator of Bitcoin mined the first block and he also made the first financial operation in the BTC system. At the beginning of its history, the Bitcoin price was ridiculously low. The first exchange of BTC to US dollars was made in the summer of 2009 when Martti Malmi received 5.02 USD for his 5050 Bitcoins. The first official Bitcoin exchange rate to the fiat dollar was established on October 9, 2009. At that time, for 1 dollar you could buy 1 309.03 BTC. Many people now regret that they missed the opportunity to buy Bitcoin for pennies.
In 2010, events in the cryptocurrency market began to develop more intensively. The Bitcoin Market exchange was opened in February 2010, where it was possible to sell the digital coin. In May of this year, the most well-known deal with Bitcoin had happened. The programmer Laszlo Hanyecz bought 2 pizzas for 10,000 BTC. It was the first purchase using cryptocurrency in the real world. He posted a request on the crypto forum saying that he wanted to buy two pizzas. In exchange for that, he offered 10K Bitcoins that back then cost about 40 dollars. And there was a person who agreed to have this deal – it was the 19 years old Jeremy Sturdivant. Jeremy didn’t become a millionaire since then as he spent his coins to travel across the USA. As for Laszlo, he doesn’t regret about the lost millions. He was mining coins for his pleasure at that time and spent them to different non-significant things. In July of 2010, BTC price raised to 0.08 dollars. Then in November, the price went up for 50 percent. In general, 2010 was an excellent period for strengthening the position of Bitcoin. The digital currency was almost able to reach the point of one dollar.
BTC overcame the point of 1 dollar only in February of 2011. By early June, the price had grown to 10 dollars. This was a small victory for Bitcoin. Another maximum was set at the point of $31.91. In the middle of June 2011, there was a sharp drop in price: from 31.91 again to 10 dollars. The year 2011 was full of negative events. One of them happened on June 13, when a user’s electronic wallet was first hacked and 25 thousand coins were stolen from there. In a few days, some geeks hacked MtFox exchange where they got data of sixty thousand users. These events negatively affected the Bitcoin rate. It became clear that in the future the price of digital currency will be determined taking into consideration any events that occur in the market.
In 2012, the exchange rate was ranging from 8 to 12 dollars per 1 BTC. This period was also rich in significant events. One of them is that Bitcoin Central bank began its work. This bank received a license and was even recognised by European regulators.
February 22, 2013, was the day when Bitcoin began to grow again. The price reached the mark of $30. Another increase occurred at the end of January – $31.9. The upward trend continued. March 22 rate was 74.9 dollars per BTC. On the first day of April, the price went up to $100 and within another nine days, the BTC price grew to 266 dollars. But the growth did not last long. By October it was $109. The possible reason for that is the arrest of an anonymous trading platform Silk Road. Since November 2013, the price of Bitcoin began to grow anew. By the end of the month, the price exceeded all expectations and raised up to $1,200 per coin. The reason for overcoming the $1,000 point was the BTC support by Zynga game creator. Experts also noted another event that could affect the growth: one of the higher education institutions in Cyprus started accepting the Bitcoin as payment for tuition. But by the end of the first week of December, the price was 1,000 dollars. In the middle of December 2013, the BTC price dropped to 600 dollars because the China Central Bank prohibited the country’s financial institutions to maintain operations with cryptocurrency.
During the year 2014, there happened rather a significant amount of events that had an impact on the Bitcoin volatility. In the first days of January, 1 BTC was equal to 770 dollars. In February it was 700 dollars. Summer 2014 slightly strengthened the reputation of the cryptocurrency. Many experts think that it was 2014 when BTC strengthened its position in the market, in spite of the fact that Bitcoin price was low – by the end of the year it settled in at around 310 dollars. In 2014 investors began to consider Bitcoin as a potential investment as Bitcoin price predictions seemed quite attractive.
At the beginning of 2015, the BTC price started rising: with 177 dollars in January to 281 dollars to March. The number of people who were trading Bitcoin increased – there were about 160,000 people was buying and selling BTC on exchanges by August 2015. In one period of 2015 the Bitcoin price grew up to 500 dollars, but to the end of 2015, it dropped to about 350 USD.
In 2016, Japan declared Bitcoin as a currency and allowed to use it to pay for goods and services. South Africa was the next who did the same. In April 2016, BTC rate went up and reached $454 per coin. By the end of May, 1 BTC was already worth $600. The reason for the price increase might be the growth of the number of transactions in the Chinese market. The highest price in 2016 was in December – $950 for one Bitcoin.
The year of 2017 was an incredible period in respect of BTC price. It started with $1,000 for 1 coin. Already in June, it was $2,600. By the beginning of September, the price jumped to $5,000 per 1 BTC. On December 17, the Bitcoin price achieved a record and was over 20,000 US dollars. How did this happen? Here are some reasons that experts point due to the growth of Bitcoin price:
In 2017 social media broadcasted a lot of information about Bitcoin and the blockchain system;
China resumed cashout of bitcoins from the Chinese cryptocurrency exchanges;
In December 2017, the United States officially allowed trading futures for Bitcoin;
The number of companies and people who were buying BTC increased as they considered Bitcoin the profitable investment and etc.
However, later in December, the price plummeted from 20 000 dollars to 12 000 dollars. Experts had different reasons including that one of the first cryptocurrency creators sold out all his digital savings and called such investments too risky.
During the first 4 months of 2018, the price of BTC dropped below 7,000 USD. These negative dynamics were quite logical because the rise is always followed by the fall. For the first time since October 2017, the Bitcoin price fell below 6,000 dollars. On November 25, the price of Bitcoin fell even lower – $3,676 per 1 BTC. By mid-December, the bitcoin rate fell by almost 80% to its yearly rate, the price was $3,200.
What can we expect in 2019? What Bitcoin price predictions do crypto experts have? People hope that 2019 will bring new opportunities for Bitcoin and also other cryptocurrencies. Some investors and crypto enthusiasts predict that the BTC price will grow to 40 – 50,000 USD by the end of 2019. One of them, John McAfee, is assured that the price will rise to 1 million dollars by the end of 2020. He even had a bet that he posted in his Twitter saying that he would eat his “love muscle” if his BTC price prediction will not come true. There may be a number of factors that can influence the BTC price in 2019. They are:
Nasdaq, the world’s second largest exchange plans to launch futures for Bitcoin;
Coming out of the first crypto-ETP in the world;
and many other unpredictable factors that can change the price of Bitcoin.
As it was said before, Bitcoin price predictions are almost like the weather forecast – you never know what price it will have tomorrow. If you think about investing in BTC or any other cryptocurrency you should follow its rate at present time but never forget to compare it to the past. But please, don’t bet to eat any of your body parts 🙂 Feel free to follow our updates and news onTwitter,Facebook,Reddit,TelegramandBitcoinTalk. Read what the customers say about SimpleSwap onTrustpilot. Don’t hesitate to contact us with any questions you may have via [[email protected]](mailto:[email protected]).
February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later. April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD) June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’ July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established August —Bitcoin protocol bug leads to emergency hard fork December — Satoshi Nakamoto ceases communication with the world
January — One-quarter of the eventual total of 21M bitcoins have been generated February — Bitcoin reaches parity for the first time with USD April — Bitcoin reaches parity with EUR and GBP June — WikiLeaks begins accepting Bitcoin donations June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines October — Litecoin released December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.
May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue July — Government of Estonia begins incorporating blockchain into digital ID efforts September — Bitcoin Foundation created October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service November — First Bitcoin halving to 25 BTC per block
February — Reddit begins accepting bitcoins for Gold memberships March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike. May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70 June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder July — Mastercoin becomes the first project to conduct an ICO August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform” December — The first commit to the Ethereum codebase takes place
January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami February — HMRC in the UK classifies Bitcoin as private money March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger” June — Ethereum Foundation established in Zug, Switzerland June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap October — ConsenSys is founded by Joe Lubin December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments
January — Coinbase opens up the first U.S-based cryptocurrency exchange February — Stripe initiates bitcoin payment integration for merchants April — NASDAQ initiates blockchain trial June — NYDFS releases final version of its BitLicense virtual currency regulations July — Ethereum’s first live mainnet release—Frontier—launched. August — Augur, the first token launch on the Ethereum network takes place September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss November — Announcement of first zero knowledge proof, ZK-Snarks December — Linux Foundation establishes Hyperledger project
January — Zcash announced February — HyperLedger project announced by Linux Foundation with thirty founding members March — Second Ethereum mainnet release, Homestead, is rolled out. April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic July — Second Bitcoin halving to 12.5BTC per block mined November — CME Launches Bitcoin Price Index
January — Bitcoin price breaks US$1,000 for the first time in three years February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later March — Multiple applications for Bitcoin ETFs rejected by the SEC April — Bitcoin is officially recognized as currency by Japan June — EOS begins its year-long ICO, eventually raising $4 billion July — Parity hack exposes weaknesses in multisig wallets August — Bitcoin Cash forks from the Bitcoin Network October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis September — China bans ICOs October — Bitcoin price surpasses $5,000 USD for the first time November — Bitcoin price surpasses $10,000 USD for the first time December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits
January — Ethereum price peaks near $1400 USD March — Google bans all ads pertaining to cryptocurrency March — Twitter bans all ads pertaining to cryptocurrency April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year April — EU government commits $300 million to developing blockchain projects June — The U.S. Securities and Exchange Commission states that Ether is not a security. July — Over 100,000 ERC20 tokens created August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange October — Bitcoin’s 10th birthday November — VC investment in blockchain tech surpasses $1 billion December — 90% of banks in the US and Europe report exploration of blockchain tech
January — Coinstar machines begin selling cryptocurrency at grocery stores across the US February — Ethereum’s Constantinople hard fork is released, part two of Metropolis April — Bitcoin surpasses 400 million total transactions June — Facebook announces Libra July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain” August — Ethereum developer dominance reaches 4x that of any other blockchain October — Over 80 million distinct Ethereum addresses have been created September — Santander bank settles both sides of a $20 million bond on Ethereum November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
Vechain raised $1 million USD in December 2015 and the company is seeking $3-$5 million USD over the next six months. The company’s vision includes providing a Blockchain-as-a-Service platform in 2017 that would deliver all the functionality needed for any industry vertical to implement auditable blockchain product authentication.
IBM is a premier member of Linux Foundation’s Hyperledger Project, a collaborative effort started in December to establish, build and sustain an open, distributed ledger platform that will satisfy a variety of use cases across multiple industries.
The Hyperledger Project, led by the Linux Foundation and aimed at the development of an enterprise-grade, open source distributed ledger framework and codebase, recently announced that seven new members have joined the project. New members are INVeSHARE, MonetaGo, Swedish developer Norbloc, the Moscow Exchange, and three Chinese firms: BitSE, Belink Technologies and Onchain.
Shanghai-based BitSE, established in 2013 by founders from IBM, Alibaba and Louis Vuitton, developed Blockchain-as-a-Service (BaaS) applications. The company operates a research lab focused on distributed consensus, distributed applications and smart contracts. The company’s products include VeChain, an anti-counterfeiting solution. BitSE is also developing blockchain development and running environment Quantum, smart contract applications and private blockchains. Earlier in June, BitSE established a partnership with PwC China to create a team of 50 specialists and bring one-stop blockchain technology solutions to the China market.
"At present, there are only two clients who have reached a cooperation agreement, namely the international freight forwarding company KN and an Internet of Things company. The luxury brand customers are in the negotiation, and the revenue is unknown."
"At present, his team has 41 people. CEO Qian Dejun has been in IBM for 12 years and has served as the general manager of the regional branch. CTO Shuai began his career at Alibaba and was an early participant and promoter of the China blockchain community. LV China CIO, CFO Zhang Jie used to be PwC China Risk Security Senior Manager."
Demonstrating the development of fashion technology, or FashTech, VeChain chips have been added to items making up Babyghost’s 2017 spring and summer collection, unveiled at the recent Shanghai Fashion Week.
I just found this one interesting - Words of Chun Yin Cheung (partner in PwC China’s risk assurance practice) - mentions VeChain, but not in the context of China launching currency on their platform. This just legitimizes Vechain & China to me.
It's not just Garena, from 2009 to 2013, Riot games was also using your computer to mine bitcoins (proof inside)
look at the facts league of legends alpha started in the first quarter of 2009... AT THE SAME TIME BITCOIN LAUNCHED there were 3 items, PHILOSOPHER'S STONE, AVARICE BLADE and KAGE'S LUCKY PICK with a passive gold gain effect... now u might ask, how can Riot give you this extra gold?? but it gets better... on september of 2009, Riot went all in by adding HEART OF GOLD to the game, which also had a gold generation effect (proof). now with heart of gold, philosophers stone, avarice blade and kage's lucky pick, every role has a gold generation item so if u are still wondering how riot made gold from thin air, the answer is very simple... gold generation items were actually MINING ITEMS, they were using your computer to mine bitcoin and paying you a small portion of the profits as the gold passive in the mining items RIOT GAMES were doing this from 2009 to 2013 when they finally removed the items on patch 3.14 i have gathered conclusive evidence that matches the date of patch 3.14 on november 20th 2013 by analyzing the bitcoin market data as you can see this snapshot of the final quarter of 2013 (check the data yourself if you dont believe me) they removed the mining items causing a major supply shortage which drove the price up to an all time high and then sold all their ill gained bitcoins, u can verify that the dates match up perfectly yourself here
Survey: Investors Likely to Flow Back to Gold; China Blockchain Euphoria Fading
According to a recent Twitter survey, Bitcoin investors are likely to turn to gold as the cryptocurrency’s most recent hype fizzles out, leaving losses in its wake. The poll, conducted by Novem Gold, reveals the extent of the disillusionment among BTC enthusiasts as prices remain largely suppressed in H2 2019. This slump, however, is most alarming because it closely follows the sharp gains the coin had enjoyed after optimistic comments from the Chinese head of state regarding blockchain in October. The speech, widely regarded as a watershed moment for the cryptocurrency, could prove pivotal for Bitcoin and the crypto world. China’s massive population can single-handedly send the coin’s Bull Run back on track. In his speech, Chinese President Xi Jinping referred to blockchain as “ an important breakthrough.” Before the statement, the prevailing sentiment was that the Chinese government was anti-blockchain. The primary signal came after its September 2017 banning of initial coin offerings (ICOs). The speech was therefore interpreted as a green light indicating that China was willing to embrace cryptocurrency trading in all its aspects, which would push Bitcoin prices once more to the moon. China, for many years, has been the epicenter of blockchain and cryptocurrency activity. Before a large number of investors in other parts of the world grew accustomed to Bitcoin, China had already established itself as a mining hub. The East Asian nation has significantly contributed in many ways to the rise of the digital currency sector over the years. As an illustration, as of 2017 the country’s insatiable need for crypto assets was almost 90% of crypto’s total global trading volumes. Shockingly, just a few months into 2018, this demand dipped below the 1% mark. This decline in demand also followed Bitcoin’s most significant price dip, which saw it go from a high of $19,800 to a low of $6,200 each in less than two months.
China is Pro Blockchain
The excitement over the Xi Jinping speech was therefore palpable in October when he said that his country would “seize the opportunity” that blockchain offers in research, standardization, and development. The Chinese President is the first leader of a global economic giant to make such friendly remarks towards a technology that is maligned by some of his peers. If the government embraces cryptocurrencies, Chinese Bitcoin bulls would return and push prices through the roof. Following the unexpected speech, the price of Bitcoin temporarily surged, adding 40% after rallying to a high of $9,526 on November 4th. Unfortunately, the rise halted and a consistent correction happened, lowering the value of the token to a $6,524 mark on November 25th, a much lower price than before the Xi effect. Bitcoin has, however, recouped some of its losses over the last few days, but it is still trading at half the price in comparison to June 2019. The Chinese, in contrast to many other countries, have many advantages when it comes to cryptocurrency awareness. They have, for instance, long been aware of the virtues of speculation into new asset types. They are also more aware of virtual currencies and have, over time, developed cautionary optimism for digital currency regulation. Tencent QQ’s reward program, for example, paid out in Q coins and had more than 221.4 million active users by 2006. Consequently, some of the earliest BTC adopters were Chinese. Bitcoin’s popularity in China also increased with the East Asian country’s rise to the position of the second most powerful economy on earth. China’s 12-th strategic economic plan, released in 2011, was one of many development aspects aimed at the reduction of the poverty rampant in the nation’s rural zones. As a result of the economic success of this plan, China’s emerging middle class burst onto the scene, increasing the country’s domestic consumption from a low of 4% in 2000 to a high of 68% in 2012. The money that was left over after savings were taken care of was channeled into speculative investing. Since this aspect of making money is a big part of the investment culture of the Chinese, the country’s investors took a quick liking to Bitcoin. The Chinese, however, were not purchasing the digital asset for its privacy attributes but rather for its investment appeal. Unlike many Bitcoin enthusiasts in the West who love the digital currency for its P2P features, the Chinese adopted BT for its Gold 2.0 features. Speculating in gold is an investment activity most Chinese are accustomed to. This difference is the reason why, when the Silk Road closed down, the Chinese market for crypto was hardly affected. In the West, however, the closure of the online black-market platform adversely affected Bitcoin prices.
BTC was Gold 2.0 to China
The interest in BTC investment in China rose even further with the loosening of the government’s tight grip on financial markets. At the time, Beijing was in the process of developing diverse financial markets for the new elite to invest in, such as derivatives. A strengthening economy with friendly regulations was just what the Bitcoin investment frenzy required. With the creation of BTC mining hardware in 2013, the participation of the Chinese as miners and investors soared. New 2016 to 2017 crypto regulations, however, brought the Chinese crypto trading market to its knees because they quashed the ability to speculate in Gold 2.0. Despite the death of crypto speculative trading, the Chinese crypto community is still very vibrant despite the stringent regulations around it. This resilience is especially visible in the area of blockchain application. Such innovation is what the Xi Jinping government is promising to support, not decentralized cryptocurrencies that make it difficult for governments to control money as they wish. Since the pro-blockchain October speech, there has been a cascade of activity in the Chinese blockchain scene. The Chinese central bank is, for instance, readying itself to release its Digital Currency Electronic Payment System. The People’s Bank of China intends to replace the use of fiat with the DCEP blockchain-based payments solution. This move would make the country the first major world economy to embrace a native digital currency. With the launch of the digital payment systems, China would find it much easier to extend the influence of its monetary policy to the rest of the world. While Beijing has no regard for “censorship-resistant” and permission-less digital currencies — as they endanger capital controls — it is building its centralized digital currency to supplant Bitcoin. This effort is a true testament to Bitcoin’s significance and the Chinese government’s appreciation that the world’s monetary system is dependent on technological advancements. Unlike the West, China has harnessed the power of internet connectivity without losing its control over freedom of expression. The economic giant is now strategizing ways that it can harness the power of blockchain, albeit minus its decentralized aspects. It could be that the Chinese government’s interest in the blockchain is part of the drive to end the age of the USD. This is an opportunity to move the country past its dependence on US-owned foundational technologies. According to Xi China, through blockchain, will “take the leading position … occupy the commanding heights of innovation, and gain new industrial advantages.” China, however, is determined to make its cryptocurrency more acceptable to the international and domestic markets than Bitcoin has ever been. The second-largest economy has been amassing massive amounts of gold, which analysts say will back its native digital currency. A gold-backed digital currency is acceptable in any part of the world and will significantly enhance Beijing’s de-dollarization policy. It is therefore expected that the county will maintain its leading gold mining and buying positions in 2020, which should add more fuel to the ongoing global gold rally. https://preview.redd.it/nc1l1mlcyq741.png?width=1200&format=png&auto=webp&s=3ea7c308c3e2e226d8eced72adabefba70d49a80
2019 in Review: Community, Crime, Courtcases, Craig & Consolidation
https://preview.redd.it/r7dmpveldia41.png?width=680&format=png&auto=webp&s=f7dc87d5b58c4391d3e04359c4dc111d771246a1 2019 has been a tumultuous but amazing year for the development and advancement of blockchain technology. Following the rally to the all-time-highs at the end of 2017 and the intense infrastructure development and ongoing Bear Market of 2018 it was clear things were changing quickly. We are about to enter a new decase and the team at Aelf wanted to look back at 2019 and reflect on some of the events that occurred over the last year to see where the industry might be headed in 2020. https://preview.redd.it/tccwloemdia41.png?width=384&format=png&auto=webp&s=3c9feac47c8e8accc602dee7e738df86facc3e2e Although the year has been considered a continuation of the 2018 bear market, it didn’t stop development, progression and a myriad of crazy events from occurring. This included the challenges associated with global regulations, the upcoming Bitcoin halving event in May 2020, announcement of the Facebook Libra and Telegram Open Network’s (TON) launch delay. This year also saw a myriad of debacles from self-proclaimed Bitcoin creator Craig Wright, the Justin Sun and Warren Buffet lunch situation, the recent claim of Twitter CEO Jack Dorsey’s goal to modify Twitter into a decentralized version of the platform, and President Trump’s Bitcoin statement, among others. Now let’s examine more of what took place during 2019 as we approach the start of the New Year in 2020. The SEC, Telegram, Facebook Libra, Kik and Blockchain’s Global Regulatory Environment Many of the world’s governments have been harsh towards blockchain technology in recent years. Particularly, the US Government and the Securities and Exchange Commission (SEC) have been very reluctant to ease the regulatory framework for blockchain development in the country. This has become more evident in 2019, with the SEC combatting many blockchain projects this year including the $1.7 billion-dollar token offering of the Telegram Open Network and the Facebook Libra project. As well the SEC created controversy in a gruesome battle with Kik over its alleged illegal token offering that Kik has sworn to fight to their last breath. https://preview.redd.it/6yngxxfndia41.png?width=614&format=png&auto=webp&s=dc363d1a2225f461bad20786e8439e7cc3896d7d Many proponents of blockchain technology accuse the SEC of unfair policies to put a stranglehold on the development on blockchain in order to prevent the devaluation of the American monetary system. The reluctance for crypto exchanges to set up shop in the US is also becoming more prevalent because of the supposedly biased and unfavourable approach of the SEC. Nevertheless, there are also several major countries including China that have for the most part embraced the advancement of blockchain technology in 2019. China has also nearly finalized the development of the digital Chinese Yuan and announced that that country is going all in on blockchain development despite its sometimes anti-Bitcoin approach. The Bitcoin Halving Event and its Ongoing Effect on Market Conditions With the end of 2019 nearly upon us and the upcoming Bitcoin halving event set to take place during May of 2020 the market could be overdue for a bull market of mass proportions. Remember, the last bull market that took place was 2 years ago during December 2017 and was followed by an incredible dump from the all-time-high price of 20 thousand US Dollars to just 3300 USD in December 2018. For the most part, 2018 was a blood-bath for crypto markets and 2019 has not been all that much better. The price did briefly rally up to 14 thousand US Dollars during mid 2019 but has since been reduce by half with the Bitcoin price presently at just over 7000 US Dollars. Bitcoin was designed by its original creators with code written to mitigate the negative effects of inflation. In order to curb inflation, once every 4 years (or 210,000 blocks) the mining rewards that the network automatically generates are reduced in half. https://preview.redd.it/xuthhfiodia41.png?width=819&format=png&auto=webp&s=2cc8cbc7452d4aadb5076530915acfd5e755735a 3 Additional Stories to Watch in 2020 In June, the CEO of Tron, Justin Sun purchased tickets through eBay for a charity auction to have lunch with Warren Buffet. Sun paid a record $4.56 million US Dollars in the process becoming the highest bid in the 20-year history of the event. The purpose of the lunch from Sun’s standpoint is to change Mr. Buffet’s viewpoint towards crypto and blockchain tech by inviting several blockchain industry leaders to help sway the famous investor’s perspective. Sun subsequently missed the lunch he scheduled in September because of a sudden bout with kidney stones. At this time, the community will have to wait and see when Sun and Buffet will meet in 2020. Stay tuned. Back in December of 2015, Craig Wright claimed publicly to be the creator of Bitcoin, Satoshi Nakamoto. Most believe Wright was lying to gain more fame and recognition in the industry. On November 18th, 2018 Bitcoin SV hard forked from the Bitcoin Cash Network to create it own chain. As noted above, the disgruntled CEO of Bitcoin SV, has for years maintained he led the initial development of Bitcoin. During February 2018, Wright was the subject of a 5.118-Billion-dollar lawsuit by Dave Kleiman claiming that Wright defrauded Kleiman of Bitcoin while working on the initial development of the Bitcoin Network between 2009 and 2013. In August 2019, Wright was ordered by a court of law to pay half the 5.11 Billion in Bitcoin back to Kleiman. Throughout 2019, Wright launched lawsuits against Ethereum founder Vitalik Buterin, Bitcoin Cash’s Roger Ver and others for calling him a fraud. It seems likely Wright will continue his ongoing Satoshi rhetoric in 2020. https://preview.redd.it/l977df8qdia41.png?width=547&format=png&auto=webp&s=f52d70a3c852b920ae665c8b5770a74cd8dadabe The CEO of Twitter, Jack Dorsey recently stated that he has hired 5 full-time employees to modify the Twitter platform and make it increasingly decentralized. This may seem like a small step initially, but this project could be expanded easily by someone of Dorsey’s reputation and wealth in the technology industry. Dorsey himself has been a long-term proponent of blockchain technology and an investor in Bitcoin. Binance CEO, Changpeng Zhao, recently offered to help Dorsey make this dream come to fruition. Additionally, Morgan Creek Capital founder Anthony Pompliano supported Dorsey’s statement noting that, “Jack Dorsey may understand the future better than any entrepreneur on the planet right now.” Conclusion This year we saw Kik, Telegram and Facebook Libra face fierce backlash from the most powerful regulatory body in the world, the SEC. We saw the Chinese government announce that they are all in on blockchain development and declare the upcoming launch of their own centralized digital Chinese Yuan. Justin Sun postponed his 4.56-million-dollar lunch with billionaire investor Warren Buffet because of health issues, while Jack Dorsey the CEO of Twitter proclaimed a more decentralized and open version of Twitter to prevent some of the abuse on the platform. In 2019, the 4-year long Craig Wright and Satoshi Nakamoto saga continued, and we finally are moving closer to the much-anticipated Bitcoin halving event of May 2020 that could change the trajectory of the Bitcoin price for much of 2020 and 2021. It is clear 2019 has been an incredible year for the blockchain industry. With no shortage of uncertainty and scepticism in the short-term, it is likely that 2019 will pale in comparison to the developments of 2020. As we approach 2020, the industry will continue to expand towards mass adoption and the mainstream evolution of blockchain technology. Nevertheless, with the global regulatory blockchain environment evolving in many areas across the world, the uncertainty in the United States remains stronger than ever. There is no telling what will happen in this regard and what will happen with Bitcoin and this amazing revolution in 2020 and beyond. Merry Christmas and Happy Holidays from the Aelf Blockchain team and a Happy 2020 to all our community members!! Thank You
This is a compilation of everything suspicious I found with Quadriga. Please let me know if there’s anything incorrect or missing Early History (2013-2017)
QuadrigaCX started in 2013 and made history by being the first crypto exchange to register with FINTRAC and accept gold bullion deposits. By 2015, Quadriga became Canada’s largest crypto exchange. So far, so good.
In March 2015, Quadriga attempted to go public and a month later, announced its intention to install Bitcoin ATMs across Canada. Both these plans were eventually aborted.
Even though Quadriga never listed, it started selling its shares over-the-counter. In Sep 2015, Quadriga stopped publishing audits. In March 2016, Quadriga was banned from selling shares after the BCSC issued a cease trade order (CTO) for not submitting an audit.
Around the same time, 3 of Quadriga’s 5 directors (Anthony Milewski, Lovie Horner, Bill Filtness) and CFO (Natasha Tsai) all resigned. Sometime in 2016, Director and Co-founder Michael Patryn resigned. This left Gerald Cotten ("Gerry") as the only remaining director.
Evidence shows that Michael Patryn has used several aliases (including Omar Dhanani) and is a convicted identity thief
Quadriga has changed its business address several times. It started as a Vancouver-based exchange, with its addresses changing from Commercial Dr, Nelson St, and Homer St. Eventually, the address moved to Toronto. None of these were physical office addresses, but instead a mail forwarding address.
The Terms of Service on Quadriga’s website have always suspiciously stated that:
All account fundings are considered to be purchases of QuadrigaCX Bucks. These are units that are used for the purposes of purchasing Bitcoin or other cryptocurrencies. QuadrigaCX Bucks are NOT Canadian Dollars. Any notation of $, CAD, or USD refers to an equivalent unit in QuadrigaCX Bucks, which exist for the sole purpose of buying and selling Bitcoin and other cryptocurrencies. QuadrigaCX is NOT a financial institution, bank, credit union, trust, or deposit business. We DO NOT take Deposits. We exist solely for the purposes of buying and selling cryptocurrencies.
Banking troubles throughout 2018
In late Dec 2017, Jose Reyes (CEO of Billerfy and Costodian Inc, Quadriga’s payment processor) moved over a million dollars from Quadriga’s account and into his own personal CIBC account
Shortly after, CIBC froze these funds and tried reaching out to Gerry, who refused to speak with them
All throughout 2018, Quadriga’s fiat withdrawal times took 2-3 months to complete. Quadriga kept citing the CIBC freeze as the reason. What’s very suspicious is how Quadriga constantly lied to customers with promises such as “the withdrawal backlog will be cleared in 1 week” or “your funds have been processed” when in fact they were months away from doing so.
Period leading up to Gerry’s death
On Nov 27, Gerry filed his will just 12 days before his death. He left a plane, two houses, and $100,000 for the care of his two Chihuahuas.
Gerry had a plan for all his personal affairs in the event of his death but he had no contingency plan for $180M CAD of crypto in cold storage that only he had the private keys to?
India is a suspicious place to travel, considering Gerry had a medical condition and considering how easy it is to get a death certificate there
After a severe bear market, most crypto businesses have been struggling and laying off staff. It’s odd that Gerry, who has no history of philanthropy, chooses to donate money. Especially when his exchange is having so many banking troubles.
The organization that built the orphanage states on their website that they take care of all construction. There was zero need for Gerry to go to India
A reddit post shows that the orphanage exists, although it’s a mystery where the image came from
Bitcoin fell 50% in Nov – the worst monthly decline in 7 years. Gerry’s death occurred shortly after
Gerry’s death and announcement
On Dec 9, Gerry died in India “due to complications of Crohn’s disease.” However, there is a low probability that Crohn’s disease is fatal, especially at the young age of 30
Just a couple days later, a reddit post indicated someone bought 300 BTC on Quadriga at a 25% premium and moved the funds out of the exchange
It took Quadriga over a month to announce Gerry’s death on Jan 14th.
Over the following 2 weeks, Quadriga continued to assure customers that “our hot wallets are being filled and withdrawals are going slower but will complete.”
On Jan 28th, Quadriga takes down their website. Initially they said “an upgrade is being performed,” then the message changed to “site maintenance” before being changed to “Quadriga has filed for creditor protection” on Jan 31st.
In the media, Gerry stated several times that Quadriga uses multi-sig cold storage. This is where 2/3 or 3/5 people can be used to authorize a transaction. Clearly no multisig was used if only Gerry had the private keys.
Formal Active Investigations
A preliminary court hearing was held on Feb 5, 2019 where the Canadian Apex Court appointed Ernst and Young (EY) as Monitor to further investigate into the matter. EY has stated that its an extraordinary challenge to decipher Quadriga's finances, as the company has no accounting records (and did not systematically track incoming and outgoing payments) nor a bank account in its name.
The Better Business Bureau (BBB), which gives Quadriga an F-rating, launched an investigation in Dec 2018
Quadriga has substantial personal information on its customers, including SIN, driver's license, and banking details. Given Quadriga's murky history, customers may have their identity at risk and should setup up credit report and identity theft alerts with either Equifax or TransUnion.
The Great Bitcoin Bull Market Of 2017 by Trace Mayer
By: Trace Mayer, host of The Bitcoin Knowledge Podcast. Originally posted here with images and Youtube videos. I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back. Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate! Therefore, this article will be pretty lengthy and meticulous. BACKGROUND As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments. I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC! On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:
As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences. With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell? FUNDAMENTALS Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel. The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages. SECURITY The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed. At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied). This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m. This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000. Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day. Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage. When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin. These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way. With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!
SPECULATION For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers. Bitcoin is both a Giffen good and a Veblen good. A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect. Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand. There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable. (http://www.runtogold.com/images/lost-bitcoins-1.jpg) (http://www.runtogold.com/images/lost-bitcoins-2.jpg) And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage. According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not. For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin. Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you. In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away. RETAIL There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017. Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin. If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts. What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available. After all, it takes some time and practical experience to learn how to safely secure one's private keys. To do so, I highly recommendBitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware). WALL STREET There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017. LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization. The CME Group announced they will begin trading in Q4 2017 Bitcoin futures. The CBOE announced they will begin trading Bitcoin futures soon. By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable. This price discovery could be the most wild thing anyone has ever experienced in financial markets. THE GREAT CREDIT CONTRACTION The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets. (http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg) Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset? BITCOIN'S RISK PROFILE At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit). But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk. Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B. And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography! This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen. Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity. To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes. (http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png) TRANSACTIONS Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve. On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017. Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls? As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again. Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move. There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day. (http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png) What I like about transaction fees is that they somewhat reveal the financial health of the network. The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee. The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it. I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA. DEVELOPERS Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want. The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is. However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses. Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem. Nevertheless, the Bitcoin ecosystem is healthier than ever before. (http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg) SETTLEMENT CURRENCY There are no significant global reserve settlement currency use cases for Bitcoin yet. Perhaps the closest is Blockstream's Strong Federations via Liquid. PRICE There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth. Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand. Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics! (http://www.runtogold.com/images/bitcoin-speculation.jpg) On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030. On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus." On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000". Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition. I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC. Interestingly, the people who understand it the best seem to think its financial dominance is destiny. Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State. Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend. (http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png) Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market. The 200 day moving average is around $4,001 and rising about $30 per day. So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications. (http://www.runtogold.com/images/bitcoin-price-pro-forma.png) Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction. We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose? As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world. CONCLUSION Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017. The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled. The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon. While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright. Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do! But perhaps there is a larger lesson to be learned here. Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts. Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin. Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go? After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it! What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
Facts about Adam Back (Bitcoin/Blockstream CEO) you heard it right, he himself thinks he is in charge of Bitcoin.
Via: u/ydtm Who is Adam Back? Why do people think he's important? If he hadn't convinced some venture capitalists to provide $75 million to set him up as President/CEO of Blockstream - would he be just another "nobody" in Bitcoin? Consider the following 4 facts: (1) Go to the list of Bitcoin "Core" contributors do a Find for "adam": https://github.com/bitcoin/bitcoin/graphs/contributors Hmm... Apparently, he is not a Bitcoin "Core" dev. Here is his GitHub page: https://github.com/adam3us Hmm... zero contributions zero repositories Now, ask yourself:
Do you want a "leader" for Bitcoin?
If you do want a "leader" for Bitcoin... Do you want someone who has never contributed any code for it?
What gives him the right to position himself as a "leader" at a roundtable in Hong Kong with Chinese miners?
"bitcoin is hashcash extended with inflation control"
Both of these statements have been publicly exposed as false - but he still refuses to take them down.
" 'Bitcoin is Hashcash extended with inflation control.' ...[is] sort of like saying, 'a Tesla is just a battery on wheels.' " -- Blockstream's Adam Back #R3KT by Princeton researchers in new Bitcoin book
Do you trust someone who puts false statements like this on their Twitter profile?
(3) Recall his history of failures regarding Bitcoin: He was personally informed by Satoshi about Bitcoin in 2009 via email - and he did not think it would work. He did not become involved in Bitcoin until it was around its all-time high of 1000 USD, in November 2013.
He opened his Github account within 48 hours of Bitcoin's all-time high price. Presumably he sat and watched it go from zero to 4 figures before getting involved.
Why didn't Adam understand the economics of Bitcoin from 2009 until 2013?
If you want a "leader" of Bitcoin, do you think it should be someone who didn't understand it for 4 years?
Do you think he can really understand the economics of Bitcoin now?
(4) Adam wants to radically "fork" Bitcoin from Satoshi's original vision of "p2p electronic cash" and instead encourage people to use the highly complicated and unproven "Lightning Network" (LN). However, unfortunately, he hasn't figured out how to make LN decentralized.
Lightning network is selling as a decentralized layer 2 while there's no decentralized path-finding.
If Adam wants to reject Satoshi's vision of Bitcoin as "p2p electronic cash" plus increased "max blocksize" - don't you think it would be better for him to experiment with an alt-coin, rather than radically "forking" Bitcoin away from Satoshi's roadmap?
It's time for people to start asking some serious questions about Adam Back:
about his lack of contributions to the Bitcoin codebase;
about his unethical style of communication;
about his rejection of Satoshi's vision for Bitcoin;
about his lack of understanding of economics, p2p, and decentralization.
Bitcoin was never even supposed to have a leader - but somehow (because some venture capitalists and Adam found each other), now we apparently have one: and it's Adam Back - someone who never contributed any code to Bitcoin, never believed in the economics of Bitcoin, and never believed in the decentralization of Bitcoin. Whether you're decentralization-loving libertarian or cypherpunk - or a Chinese miner - or just someone who uses Bitcoin for your personal life or business, it's time to start asking yourself:
Who is Adam Back?
Why hasn't he contributed any code for Bitcoin?
Why is he lying about Bitcoin and HashCash on his Twitter profile?
Why did he fail to understand the economics of Bitcoin from 2009 to 2013?
Does he understand the economics of Bitcoin now?
If he rejects Satoshi's original vision of "p2p electronic cash" and prefers a centralized, "Level-2" system such as Lightning Network, then shouldn't be doing this on some alt-coin, instead of radically "forking" Bitcoin itself?
If he hadn't convinced some venture capitalists to provide $75 million to set him up as President/CEO of Blockstream - would you still be listening to him?
Bitcoin was supposed to be "trustless" and "leaderless". But now, many people are "trusting" Adam Back as a "leader" - despite the fact that:
he has contributed no code to Bitcoin "Core" - or any other Bitcoin code repository (eg: Classic, XT, BU);
he never believed in Bitcoin until the price hit $1000;
he is dishonest about the Lightning Network's lack of decentralization.
Maybe it's time for everyone to pause, and think about how we got into this situation - and what we can do about it now. One major question we should all be asking:
Would Adam Back enjoy this kind of prestige and prominence if he didn't have $75 million in venture capital behind him?
There is, of course, a place for everyone in Bitcoin. But Bitcoin was never about "trusting" any kind of "leader" - especially someone whose main "accomplishments" with Bitcoin have consisted of misunderstanding it for years, and now trying to radically "fork" it away from Satoshi's vision of "p2p electronic cash". TL;DR:
Adam Back's history with Bitcoin is a long track record of failures.
If he hadn't convinced some VCs into backing him and his company with $75 million, you probably wouldn't have ever heard of him.
So you should not be "trusting" him as the "leader" of Bitcoin.
Hi Bitcoiners! I’m back with the 23rd monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in November 2018 Adoption
An in-depth interview with Coss founder, Rune Evensen:
Hey guys! About two weeks ago I decided to book tickets to Singapore to pay a visit to the COSS team. I was and still am heavily invested in COSS and I thought it was my duty to push the do your own research idea to the maximum and actually go there and meet them! So, today was my first day in Singapore and it's been very busy! I spent the morning preparing my first official meeting with Rune and I headed to their offices around 2pm. They are a little bit outside of the city center, about 10 minutes drive. They look quite nice and leave a lot of room for growth, which is good cause a lot of people are coming in house in the next few weeks. The meeting went for about 2 hours and we talked about almost everything regarding COSS. Rune has been incredibly welcoming so far, I landed yesterday night and as soon as he knew I was in town he invited me to have dinner with him, so today was our second meeting, first official one. After the meeting, I headed back to my hotel caught a bit of sleep and started redacting the interview. Tomorrow I have a meeting with their head of compliance and will do the same thing, only much shorter. I'll also start vloging my adventures in Singapore :) Here is the 1st part of the interview: *Hi Rune, thanks for having me, how did you come up with the COSS idea? * Rune Evensen: Originally, back in 2013, I to develop a one stop solution for social media. I was looking at the current platforms and realized twitter is undersharing, facebook is oversharing and LinkedIn is for professionals. You needed a different account for everything so I started building a solution. Unfortunately it was all 3d rendered and way too heavy. It was designed like a house with different rooms. I spent two years on that project and we were supposed to build-in something like facebook credits as an internal currency, but not a cryptocurrency because at that time I did not know about them. But when I showed my idea to people, especially here in Singapore, more and more of them asked me why don’t you make it as a cryptocurrency instead of credits? Then I started to look into it, that was in 2015 but I found it quite complicated with a lot of hurdles especially for a beginner. So instead of working on a one-stop solution for social medias I figured I should build one for cryptos, because everybody talks about mass-adoption, but it is mostly IT guys, nerds and traders who are into cryptos. It is still way too complicated for people to get into it. So I started to plan my one stop solutions, many long nights of work. To get a better understanding I signed up for a FinTech course at MIT. During one of the weekly sessions there, we were supposed to submit a business idea that we had and could implement into blockchain. That was the first time I publicly presented my idea. We 1200 people in this course, and the average score for the assignment was 25, my project got the best rating, 100. They described it as a great business idea with real potential to take COSS to the masses. That was quite an endorsement! I needed this endorsement to actually build this idea. I had a consultancy company in Singapore with some staff. First I brought some of them in the project, then I met Dan from Romania and some months later we had the first drafts of the white paper. In November 2016 we moved to our offices in Singapore, in April 2017 we went live with the beta. Until then we were 100% self-funded, and that was the time all the ICOs were popping up. At first we started looking at institutional investors, but they wanted too many shares of the company for money that would last us a year at best. I did not want sell a majority stake of my company in which I already put so much time, efforts and money. The next natural step was to do an ICO and this is why we created our COSS token and came-up with the idea of the fee split allocation. We had to come-up with a clear use case. We then built our advisory board, we picked our advisory board according to our road map and not specifically for the ICO. For example Anson Zeall who is the president of ACCESS, Singapore’s Cryptocurrency and Blockchain Industry Association. So we chose them so that they could help us to complete our roadmap. We did every possible mistake during the ICO because we had no experience in it, none of us had done it before. We did not realize the power of community at the time, we did not even have Telegram at the time! You need to start building a community months before the ICO, you need thousands of people on Telegram and people being active in the community. This is the key to a successful ICO. Nowadays we are actually asked for advices by companies doing their own ICOs because we did everything ourselves during ours. We did not do proper marketing too, we thought we could push it through social medias, that was a big mistake. Nowadays, you need at least half a million to start your ICO for marketing budgets etc… Some companies even offer funding to ICOs! I remember we were approached at the time by TokenMarket and they offered us to take care of everything in our ICO. For 4 months of their work we were asked between 30 and 40k USD. Nowadays they do not work for less than a million. It’s been a bumpy road, that’s why we call it the RollerCOSSter! We raised 3.2M during our ICO. How much did you estimate you needed? Rune Evensen: We were very ambitious because we made an audit through ICO ranker and at that time they scored us the highest they had ever done. So we thought we would reach our 50M hardcap really easily. We were asked by the community what we were going to do with the unsold tokens, we did a community vote and the result was that everybody that joined the token sale would get 10x more token than expected. We decided to stay on Ether with the ICO money as opposed to go to FIAT. We only convert as we go and we still have two third of ETH we raised, which at today’s market price are worth 6M USD. For those who believe we have not hired more staff yet because of financial reasons, that is absolutely not true. We are very careful with the way we use our money, yes we have a big office but we decided to rent it a little bit outside of Singapore’s center cause it is a lot cheaper. We got a big office because we know we want to hire a lot. We are 7 persons working at the office at the moment and 4 more will arrive in February. Three persons for compliance and one developer, Jay. That was actually my follow-up question, how many people are on the current staff? Rune Evensen: We have a very decentralized team. We currently have 7 people in house, then we have the core dev team in Romania, which is Dan’s (one of COSS shareholders) team. It’s a 20 people team but only two of them are working a 100% on COSS. Then we have the UI team in Amsterdam, with 5 people working on COSS. We have our content manager also in Europe, we have our graphic designer in Indonesia, we have our internal security expert and our lawyer (also a shareholder) here in Singapore. So we have a big team, but people need to understand the difference between team and staff. For instance we have Gary here in house for support but he’s managing a four people team that we outsource. They all came here for training but do not work here. We are also planning to add 6 or 7 more in house developers. Mong (COSS’s 1st in house dev) has determined what kind of team she needs and she has free hands to hire and build the team. Just to clarify, if she finds someone that would fit the team, she is allowed to hire him/her immediately? Rune Evensen: Of course, we still need to discuss it together. She cannot sign the contract all alone. But yes, she is free to hire! We want it to be as quick as possible. The very good ones often have a job, then we need to make good offers to convince them and once they accept they need to give notice to their former employers so that takes a bit more time. If there are some devs out there that can start immediately and fit our needs, then we will bring them in immediately. Is it fair to say that Mong is COSS’ CTO? Rune Evensen: Yes, her contract does not say CTO but she is definitely acting CTO. It’s the same for me, I am leading the company but I do not have the CEO title. What does your typical day look like? Rune Evensen: I’m normally at the office between 8 and 9, sometimes I try to hit the gym before coming there, not too much lately. At the office I spend a lot of my time acting as support role on Slack and Telegram, I help everybody that DMs me with issues. Maybe I made myself too available because now I am getting a lot of them everyday. Of course we have meetups with compliance team and the devs. Mong has taken over a lot of communications with the dev teams oversea. She is coordinating and leading the Amsterdam and Romania team. Before she came on board that was also part of my job. I also took part on the KYC process, which is now the compliance team’s responsibility. I’m also the one negotiating when a coin wants to be listed. The priority is to get off your support role? Rune Evensen: Yes, as soon as support is up to speed, and can handle all the issues as fast I as I want to I will get off this role and go back to only leading the company. You announced FIAT will be introduced by the end of Q1 can you give us more details? Rune Evensen: We will introduce FIAT through credit card for Bitcoin and ETH. We will add more FIAT pairs as soon as the engine is up and running. I do not have an exact date for the engine. We are in the process of designing the architecture we need and want to use. Once that is done I will be able to give a more precise timeline. This should happen by the end of the week or next week. One question that comes up a lot, why don’t you buy the same engine as Binance? Rune Evensen: We want to build something from scratch for a few reasons. One reason is security, we want to have full control of the code. But mostly we want the engine to fit our business model, that requires different solutions than a standard exchange. So even if we bought Binance’s engine we would need to build a lot on top. We will speed up as much as possible the release of the engine, as long as that does not jeopardize security or quality. There are now over 80 devs on the Trello board, what is their role? Rune Evensen: They are giving us feedbacks and come up with solutions. For instance what can be done to increase the speed of the site. Some of them are working for Microsoft, Facebook and other Fortune 500 companies. Of course they are already very busy with their job and they are only helping us because they have an interest in COSS. Some of them reached out and sent their CVs to us. That’s something I always rejected before because we did not have in house devs. I did not want to get more outsourced devs and put them under an already outsourced dev team. Now that we have a leading team in Singapore, I’m passing those CVs, of highly qualified people looking to contribute more, to Mong. Some of them will become COSS team members. That’s really the true power of community that I talked about in my Medium update. Yes we have the FUD, from time to time, but to see the activity we have on Telegram and Slack, I really believe we have an amazing community. I know you guys also have a huge french community. France is actually our second biggest market behind USA. Let’s talk about security, it’s always an important concern from users. How do you improve and assess the exchange’s security? Rune Evensen: We are doing regular penetration testing, you can never say that something is 100% hack proof. My personal recommendation is to leave on exchanges only what you intend to trade and send the rest to your hardware wallet. You can get your fee split allocation on Ledger very easily. We do our due diligence and have never been breached, but some users have through their emails. I’m also amazed by how many people have not yet set-up 2FA. We might make it mandatory. You mentioned earlier that you still have 6M worth of ETH from your ICO. How much volume does the exchange need to cover your costs? Rune Evensen: Right now, when we have 2 to 3M daily volume, we are paying weekly to COSS holders between 70 and 100k. That means we get the same amount for ourselves and that’s almost enough to cover our expenses. If we reach 10M daily volume we should be very healthy financially.
A Couple of Notes on the 2013/14 Bubble VS. 2017 Bubble
I'm seeing a lot of posts comparing the 2017 Bubble to the 2013-14 Bubble. I think the comparisons are fair. However, many people are mixing up what happened in 2013-14 and the timeline. One of the most common mistakes I'm seeing is that the 2013-14 bubble popped due to Mt. Gox insolvency. That is false. The 2013-14 bubble was abrupt, even when compared to the 2017 bubble. The price skyrocketed from $200 USD to $1200 USD in one month. From November 1st to November 30th, BTC went up basically 6X. Back in 2013-14, there were basically two markets which were getting solid volume. BTC/USD and BTC/CNY. BTC/USD was mostly taking place on Mt. Gox, Bitstamp, Coinbase, and BTC-e. BTC/CNY was mostly taking place on OKCoin and BTCChina. There was no Korea or Japan back then, which definitely played a major role in the recent bull market. And while Chinese exchanges were creating a lot of fake volume back in 2013-14 through 0% exchange fees, the fact was that China was leading the markets.  They consistently held a 10%+ premium over USD exchanges during the bull run. At the height of the bubble in China, before the PBOC stepped in with its clampdown on Bitcoin, China Telecom and Baidu announced support for Bitcoin. It was on the verge of literally replacing the CNY.  On November 30th, 2013, a rumor emerged that the PBOC (People's Bank of China / China Government) was about to crack down on Bitcoin. A mass panic ensued. The price crashed from $1200 USD to $780 USD. In one day. That's a 35% crash in a single day. However, the market quickly bounced back as people argued that these rumors were fabricated. However, this rebound was short lived. On December 5th, 2013, the PBOC made an official announcement. The government banned financial institutions from interacting with Bitcoin. They also clarified that products / services in China could not be priced in BTC (they must be priced in CNY). The markets went straight down on this news. From $1150 USD when it broke to $540 on December 7th. A 3 day drop of over 50%. Where was Mt. Gox in all this? They were chugging along, delaying fiat withdrawals. Bitcoin withdrawals were working fine. Deposits too. For much of November and December there was very little noise about Mt.Gox actually being insolvent. The overwhelming market sentiment on the matter was that their banks were being disrupted by the US Government investigations into Silkroad. This was true to a very mild extent. If you'd like to argue that people knew Mt. Gox was insolvent at the time of the 2013-14 bubble crash, I'd like to point out that Bitfinex basically had the exact same issues arise in 2017. Fiat withdrawals and deposits were basically turned off. Clearly Bitfinex was a different situation in hindsight (we hope!), but initially it was playing out just the same as Mt. Gox. The markets never really reacted to Bitfinex fiat issues, just as they didn't react to the Mt. Gox issues. There was so much money going through Mt. Gox that it had a Titanic feel to it. The majority of people bought their first BTC on Mt. Gox. The Chart: https://www.tradingview.com/chart/BTCUSD/wlTsEFJ4-Reason-Behind-2013-14-Bitcoin-Bear-Market/ This chart outlines the dates of the key events in the 2013-14 bubble crash. The most significant event in the crash was absolutely the China ban. That is what kicked off the 2013-14 bubble crash, and it definitely had the most profound impact on price. While the Mt. Gox fiasco certainly did not help the markets, it's not the reason for the bubble and should not be quoted as the reason.  So in conclusion, when people are comparing the 2014 bubble with the 2017 bubble, it should be noted that they are very different. But not for the reasons most people assume. They are different because the 2014 bubble was almost entirely based on the Chinese market, and it was squashed by the PBOC themselves by imposing big regulations. Today, the markets are certainly more spread out and there are less single points of failure. There is no single event which turned the bull market to a bear market this time around, although I personally believe we ran out of gas this time around because of regulation in Korea and China.  https://www.cnbc.com/2013/11/28/buyer-beware-bitcoins-fate-could-rest-with-china.html  https://www.coindesk.com/baidu-stops-bitcoin-price-slumps-again/  https://en.wikipedia.org/wiki/Mt._Gox
Go back in time. View a historical snapshot of all active cryptocurrencies on 17 November 2013. Bitcoin Auto Robot Update 29 Oct 2013; Bitcoin Growth Is Sigmoidal 19 November 2013; Bitcoin Has the Potential to Change the World; Bitcoin Robot Makes 160% Profit in 85 days; BTC China is world’s top Bitcoin Exchange; BTC Robot Is A Winner; BTC Robot Makes 110% in 77 Days; BTC Robot News Update 26 November 2013 Bitcoin’s best monthly performance to date was 450 percent in November 2013. At the time, BTC began November 2013 trading at about $200 before skyrocketing past $1,100 by the end of the month. The November 29, 2013 price of $1,242 was the highest recorded for BTC in that year. By the end of 2012, Bitcoin had rallied to $12.56. During 2013, Bitcoin rose steadily to $198.51 by November, but experienced a significant spike, ending the month at $946.92. Volatility · 2014 was the only year so far in which Bitcoin ended lower than it started. After continuing the rally from the previous year, it peaked around $850 in ... Discover historical prices for BTC-USD stock on Yahoo Finance. View daily, weekly or monthly format back to when Bitcoin USD stock was issued.
Frediano Finucci reports on Bitcoins for Tg Cronache La7 - Servizio di Frediano Finucci sui Bitcoin per Tg Cronache - La7 30 nov 2013. Only in November 2013, we can see the very first considerable cost motions. ... LTC least 3 times greater and struck USD 40 within a few days. Nowadays, Bitcoin grew to $1000 and after that was up ... bitcoin paypal, bitcoin price gbp, bitcoin price live, bitcoin rate gbp, bitcoin scam, bitcoin server, bitcoin to dollars, bitcoin to usd, bitcoin trade, bitcoin trading, bitcoin trading price ... Published on Nov 30, 2013. ... the US stock market, and the USD by more than 100 x over the next two years. ... Today is Nov 30th 2013, and Bitcoin is about $1100 USD. License Bitcoin/USD historic price data from 2012 to 2017 on Bitstamp. Charted with tradingview.