sunny decree: IMPORTANT! Bitcoin becomes Money...!

If the defining feature of Fiat currency is that it is "by decree" (ie nothing of value backing it), then how is Bitcoin NOT fiat?

Please, do not start rambling on about the wonderful features of blockchain and what not. That's just an accounting mechanism. You could track fiat on a blockchain just as easily. Don't tell me about how it's global, and crosses borders... again, that's blockchain funcitonality, nothing specific to bitcoin.
I'm not negative about bitcoin at all. I just feel we're deluding ourselves and conflating the means we account for it with the currency itself.
Thoughts?
Keep in mind, i'm not asking how Bitcoin is unique by itself. I'm asking, how is it not Fiat?
submitted by Mystere_Miner to Bitcoin [link] [comments]

If the defining feature of Fiat currency is that it is "by decree" (ie nothing of value backing it), then how is Bitcoin NOT fiat? /r/Bitcoin

If the defining feature of Fiat currency is that it is submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] If the defining feature of Fiat currency is that it is "by decree" (ie nothing of value backing i...

The following post by Mystere_Miner is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/72kv3a
The original post's content was as follows:
Please, do not start rambling on about the wonderful features of blockchain and what not. That's just an accounting mechanism. You could track fiat on a blockchain just as easily. Don't tell me about how it's global, and crosses borders... again, that's blockchain funcitonality, nothing specific to bitcoin.
I'm not negative about bitcoin at all. I just feel we're deluding ourselves and conflating the means we account for it with the currency itself.
Thoughts?
Keep in mind, i'm not asking how Bitcoin is unique by itself. I'm asking, how is it not Fiat?
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

New York Fed: Bitcoin just 'another example of fiat money'

New York Fed: Bitcoin just 'another example of fiat money' submitted by rReasearcher to Bitcoin [link] [comments]

India May Be Starting Its Biggest Bitcoin Bull Run Yet

India’s crypto trade volumes have soared since the Supreme Court of India lifted banking restrictions for exchanges in March.

According to Coin Dance’s Paxful and LocalBitcoins volume data, India’s bitcoin peer-to-peer trade volume reached an all-time high in July.

Siddhartha Dutta, CEO of Marlin, a tech startup in Bangalore, said the recent spike in demand for bitcoin mirrors Indians’ reaction to demonetization in 2016. Back then some people learned the value of holding bitcoin, whose issuance is not controlled by any government
when the Indian government recalled a vast percentage of paper currency.

The old bills suddenly lost value due to a government decree. The idea that bitcoin’s value is based on market principles, instead of fickle government policies, made it particularly attractive.

The price of bitcoin on Zebpay, an Indian crypto exchange, had surged from $757 to $1,020 in 18 days after demonetization, while the bitcoin price in the U.S. remained relatively static. For some Indian investors, investing in bitcoin was a safe option to store their wealth and minimize the uncertainties caused by demonetization and a possible gold ban.

India’s growing crypto market dramatically slowed in 2018, when the Reserve Bank of India (RBI) ordered financial institutions to avoid working with crypto exchanges.
submitted by ami_nil1987 to airdropfactory [link] [comments]

India May Be Starting Its Biggest Bitcoin Bull Run Yet

India’s crypto trade volumes have soared since the Supreme Court of India lifted banking restrictions for exchanges in March.

According to Coin Dance’s Paxful and LocalBitcoins volume data, India’s bitcoin peer-to-peer trade volume reached an all-time high in July.

Siddhartha Dutta, CEO of Marlin, a tech startup in Bangalore, said the recent spike in demand for bitcoin mirrors Indians’ reaction to demonetization in 2016. Back then some people learned the value of holding bitcoin, whose issuance is not controlled by any government when the Indian government recalled a vast percentage of paper currency.

The old bills suddenly lost value due to a government decree. The idea that bitcoin’s value is based on market principles, instead of fickle government policies, made it particularly attractive.

The price of bitcoin on Zebpay, an Indian crypto exchange, had surged from $757 to $1,020 in 18 days after demonetization, while the bitcoin price in the U.S. remained relatively static. For some Indian investors, investing in bitcoin was a safe option to store their wealth and minimize the uncertainties caused by demonetization and a possible gold ban.

India’s growing crypto market dramatically slowed in 2018, when the Reserve Bank of India (RBI) ordered financial institutions to avoid working with crypto exchanges.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

Act 22 new annual compliance raised from $300 to $5000!

This was warned about when they raised the annual compliance fee from $50 to $300 in 2015, but Society leaders, as it now turns out, made a grave mistake in dismissing the concerns from the wiser posters. Objectors at the time correctly pointed out that if the $300 fee wasn't stopped, there would be nothing to stop the Puerto Rican government from ratcheting up the annual compliance fee further in the future. This is an indirect, underhanded, backdoor tax on decree holders that shows the Puerto Rican government cannot be trusted. This implies there are 2380 Act 22 Decree Holders. $11,900,000/$5000=2380.
Just as the Puerto Rico government tried to circumvent getting the required approval for contracts over $10,000,000, with the Covid-19 testing kits, by instead claiming they were "purchase orders" instead of "contracts," Puerto Rico government is now sticking Act 22 Individual Investors with another $5000 tax, by raising the annual compliance "fee" from $300 to $5000, an increase of over 1500%!!! These ever higher ratcheting fees have made these programs only for the "super rich." There is no rational basis for the fee to increase by $4700 in one year.
So now its $5000 to apply for Act 22, $5000 to accept Act 22, then $15,000 more annually from the $10,000 annual charitable donation and $5000 more for annual filing? That's $25,000 total in the first year, and $15,000 or more every year, something that only the "super rich" can afford. I thought The Society was going to use its unified voice to protect Act 22 people, not only represent the "super rich." How are the benefits being preserved, when instead the decree holders that are not "super rich" are being squeezed to death with soaring taxes, hidden as soaring annual compliance filing fees?
What is to stop Puerto Rico politicians from raising the annual compliance filing fee to $50,000? As the fee is not commensurate with the costs to process the annual reports, it shows this is nothing but an underhanded illegal tax, disguised as a fee, mislabeled as a fee. Why should the annual filing compliance fee go up 100x in 5 years? That's egregiously unreasonable. Similar government arrogance is what killed the tax incentive program in the US Virgin Islands.

Lawsuit? Who can create a Puerto Rico charitable foundation with its mission to keep the Puerto Rican government honest? For those who are required to do the $5000+$5000 forced annual donations, a new charitable foundation should be established to promote honest government in Puerto Rico, to accept these donations.

I will be telling all my friends to not move to Puerto Rico because the government can't be trusted to honor the decrees without sneaking in underhanded, indirect taxes, that are mischaracterized as annual filing fees.

First article is somewhat inaccurate/misleading, since it applies to ALL Act 22 decree holders, not just those involved in cryptocurrency. It will harm everyone involved in the program, and deter many others from coming. Only the "super rich" will keep coming to Puerto Rico or stay in Puerto Rico.
https://decrypt.co/26245/puerto-rico-new-law-crypto-tax-more-expensive
New law threatens Puerto Rico’s status as crypto tax haven

Puerto Rico Governor Wanda Vazquez has signed a new law into effect that increases the yearly fee associated with tax incentives for crypto entrepreneurs.

By Jaime Chacon3 min read
Apr 21, 2020

Crypto investors and entrepreneurs looking to take advantage of Puerto Rico’s favorable tax incentives will now find it more costly to do so.
Late last week, Governor Wanda Vazquez signed Law 40-2020 into effect, which made a key change to the rules that govern tax incentives for new residents. Previously, investors who moved to the island and applied for these incentives were required to pay a yearly fee of $300 for the privilege. The new law increases that yearly fee to $5,000.
The Puerto Rican government expects to generate $11.9 million in fees with this rate increase in an update to what was formerly known as law 22-2012. The new legislation also provides a tax contribution reduction of 3% for those who earn $100,000 or less.
"The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits,” Giovanni Méndez, managing partner at Puerto Rican tax consulting firm Geo Tax, told Decrypt.
“The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island," he said. Indeed, the fees and other requirements apply to anyone who has lived in Puerto Rico for at least six months and applies for tax relief for his or her business.

Building a blockchain island in Puerto Rico

SAN JUAN—Is Puerto Rico any closer to becoming the “crypto haven” that blockchain entrepreneurs and investors once promised? The attendees of Thursday’s fourth-annual CoinAgenda Caribbean conf...
NewsBusinessJaime ChaconMar 3, 2020
According to Geo Tax, the total cost of moving to the island to save on taxes includes a $750 filing fee, $5,000 special fund fee once approved, $10,000 yearly donation (split in two), plus the new $5,000 yearly fee.
"Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value,” said Méndez. “The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation,” he said.
It’s these tax incentives that have brought entrepreneurs from across various industries, including cryptocurrency, to the US commonwealth. Co-founder of EOS Alliance Block.one Brock Pierce and gold proponent (and Bitcoin skeptic) Peter Shiff, for example, make Puerto Rico their home for at least half the year.
Just last month, during the CoinAgenda Caribbean conference in San Juan, Pierce reiterated his optimism that Puerto Rico can still become the “blockchain island”—a beacon for the industry—that was once promised.
NEXT...
https://coingeek.com/puerto-rico-changes-gears-on-digital-currency-haven-status
Business 23 April 2020
Noah Bradley 📷
Puerto Rico was once seen as a perfect location for digital currency startups. It had considerable tax incentives in place that benefited investors and entrepreneurs, which led to an increase in the development of business solutions in the U.S.-controlled territory. However, either by design or due to economic shortcomings caused by the coronavirus and other disasters, Puerto Rico needs to find new sources of revenue. As a result, a new law has been approved that will change the structure of the digital currency tax incentive programs in place.
Puerto Rico Governor Wanda Vazquez approved a new law last week, Law 40-2020, that alters the way tax incentives are provided to new residents. Spanish media outlet El Nuevo Día (The New Day) points out that the previous annual fee of $300 for those who moved to the island and applied for the incentive has been substantially increased. It has now jumped up to $5,000, and is expected to generate an additional $11.9 million for the government. In addition, there is also a new tax contribution reduction equal to 3% for anyone who earns $100,000 or less.
In correspondence with Decrypt, Puerto Rican tax consultant Giovanni Méndez, representing tax consulting firm Geo Tax, says, “The increment in maintenance costs for the decrees raises the bar for those who take part and for potential investors looking to relocate to the island for the tax benefits. The higher fee assumes that all of the participants are millionaires who hold fortunes with immediate liquidity. Those of us in the community know that this is not the case for a large part of investors and entrepreneurs that have relocated to the island.”
Now, for anyone wishing to move to the island, the upfront expenses are much higher, somewhat negating the existing tax incentives. There is a $750 filing fee, a $5,000 “special fund fee” if the filing application is approved, a $10,000 obligatory annual contribution (with the possibility of having the fee made in two payments) and the new $5,000 fee.
The structure will be detrimental to entities in the blockchain and digital currency spaces, and Méndez adds, “Regarding investors in the cryptocurrency market, the increase in costs affects whether some will remain on the island due to the volatility of the market and changes in value. The new Incentives Code brought sections that incorporate benefits to the crypto and blockchain markets which is something positive, but it clearly contrasts with this last legislation.”
The changes could force many who have decided to call the territory home to pack up and look for better, cheaper alternatives. Puerto Rico has been slammed by a number of major storms in recent years that have almost decimated its infrastructure, and the U.S. has been indifferent in providing a considerable amount of relief. The weakened foundation and the new fees might be enough to thwart Puerto Rico’s plans of being a major digital currency hub.
NEXT...Key part translated from Spanish...
https://www.elnuevodia.com/noticias/locales/nota/wandavazquezfirmaenmiendasalareformacontributiva-2562250
imposes a contribution of $5,000, previously $300 - for the delivery of each annual report presented by the citizens benefiting from the benefits. of the Law to Encourage the Transfer of Individual Investors to Puerto Rico, previously known as Law 22-2012.
That last increase will generate $ 11.9 million new, according to Soto told the press.
submitted by wdyg to act2022 [link] [comments]

Beware trezor owners. Got hacked this week

Sorry it wasnt hacked it was a phishing issue.
Ok this is going to be tough to post it but i dont want anyone else to go through what ive experienced in the last week. Had around 3.5 bitcoin stolen from my trezor this week. For the record this was 100% my fault. So negative comments can be kept to yourself im sure i have said them to myself. I wasnt thinking. My mind was on work i totally knew better but heres how it happened. So i was working from home and thought between work deals id transfer my 3.5 bitcoin from coinbase into my trezor. While plugging my trezor in it didnt go in super smooth but i got it in . which i thought was wierd. So i google trezor and. Clicked on the first link for trezor. Worst decision of my life. Come to find out this was a phishing link that steals btc. In the website it looked just like trezor site but it came up with a message that said trezor damaged. Input 24 word seed. I know i know i know. I was thinking the same thing nope not gonna do it. But i was rushing and said well may be due to me having plug in issues. So as u can guess i put it in for some crazy reason i wasnt thinking. Yep u can guess it they got 1.29 and 2.14 btc from me. Please dont fall for this please it will mess you up bad. Here is a link of what happened. https://blog.trezor.io/phishing-attacks-used-to-steal-your-coins-recommended-reading-a39c0679c55d
So my story and thoughts . About me. Im 41 . single dad raising 2 amazing preteen girls. Just started in btc earlier this year i had put about 4 years worth of saving into the bitcoins. My goal was to put around 3.5 btc on the trezor and just hodl it for as long as i could. Last week i bought 1.66 btc and figured that would be my last buy for awhile since i was close to the 3.5 i wanted. Crazy how upp and down things go i bought my last bit at 8250 and at one point friday it hit $10500 i was feeling great not knowing monday would be the worst day of my life. Maybe its growing up in the midwest that i trust people more than i should . but how in the heck could someone live with themselves knowing they are ruining peoples lives. Crazy the world we live in. Im in a position with my job i could wreck people pretty bad financially. But no way in heck would that even cross my mind. Not only did they steal from me but what pisses me off was that they stole from my daughters i had plans for the money down the road. Help buy them a car when they turn 16. Help with their college and help with their college. I think thats what bitcoin is all about collecting these bitcoins and hoping that in the future they will help out your family give them a better life. Most of us wouldnt sell our btc anytime soon as we know in 3 or 4 years could be amazing. I know i brought this upon myself i blame myself 100%.
A couple of things that do suck about the situation. First of all how can people do that to someone else . secondly why does google let a phishing add be above the real trezor link when you google trezor thats messed up shouldnt allow that site at all all it does is harm people. Thirdly trezor should do more to alert the public about the phishing hack it was hard to find i think maybe 1 or 2 articles 6 months ago. That should be on yahoo google all over the place. But i know trezor doesnt want to hurt their sales . crazy thing is i used to watch and subscribe to bitcoin channels like the moon. Sunny decree crypto zombie. Chico crypto and a couple others. Loved watching the videos and learning but now i unsubscribed for the time being kind of makes me sick thinking how i screwed up im sure it will get better but tough pill to swallow now.
I know people have been hacked for much more btc so i do feel for you. Crazy thing is current walue would be around 32k. But its more about what the value will be in 4 years. If anyone has experienced anytjing similar poat below. Or if anyone has any questions feel free to ask in the post or message me anything. Thanks for your time
submitted by abruceky to Bitcoin [link] [comments]

Bitcoin is more like fiat than gold

This nonsense about Bitcoin being gold 2.0 makes no sense. Gold has actual uses aside from being money (it looks nice, doesn't degrade, is an excellent conductor of electricity, etc). Bitcoin does not.
Bitcoin is much more like fiat than gold - it doesn't have any non-monetary properties that make it valuable, and like fiat is only useful for commerce. Take away the ability to spend fiat money and you have worthless paper. Take away the ability to spend Bitcoin and you have worthless bits on disks scattered around the world. It amazes me that the Core camp don't understand this.
submitted by dktapps to btc [link] [comments]

Peter Schiff, December 2017: "If you can get a cryptocurrency backed by Gold instead of a fiat cryptocurrency then it can work."

First:
Peter believes the definition of fiat is "let it be" as in let something that has no value be money.
The real definition of fiat is "let it be" as in let something that has no value be forced upon a populous as money by authoritative decree.
Bitcoin has no authority therefore has no one forcing its use onto others. It also has global free market price discovery whereby the global free market determines the value of bitcoin. In both of these interpretations of the definition of fiat bitcoin is NOT fiat.
Second:
Backing something with a scarce asset like gold is only required when the object you are backing is not scarce in and of itself. The whole point of bitcoin is that it is the first usable form of true provable digital scarcity.
Backing a digital token with a physically stored asset defeats the purpose of backing it because that centralised physical good can be co-opted, co-erced, corrupted and confiscated at will.
The purest innovation of bitcoin is that it created digital scarcity without physical backing. If physical backing of a digital token was sufficient to create a usable global payments platform and currency then GoldMoney and E-Gold would still legitimately function, but they do not for this exact reason.
Finally:
All copies of bitcoin, imitations of bitcoin, and forks of bitcoin do not inflate its supply or dilute its scarcity. Anyone can copy the code but you cannot imitate or fake the security of the network (which is derived from the real computational power directed towards mining) or the network effect of the bitcoin blockchain (as all other forms of crypto tokens, even bitcoin forks, are not recognised as legitimate functional or accepted on the bitcoin blockchain).
So in conclusion this information hopefully opens up the discussion to how Peter Schiff is overlooking fundamental truths that prevent him from seeing the potential of bitcoin.
submitted by slvbtc to Bitcoin [link] [comments]

In Venezuela, buying up bitcoins, the rate is close to $ 9500

The Venezuelan currency of the Bolivar to the US dollar declined by more than 1% per day, follows from the official message of the country's central bank.
On December 6, the Bolivar rate updated its historical maximum, breaking the psychological mark of 40,000 and at the time of writing, is 41,623 bolivars per dollar. Since the beginning of the year, the bolivar rate has decreased by 22004.21%
The difficult economic situation has led to the highest inflation in Venezuela.
The Venezuelan economy has halved since 2013. Oil production and export fell to the level of the 1940s, multinational corporations leave the country, and foreign embassies close or reduce the number of diplomats. “Caracas has an eerie feel for a modern city whose people have gone on vacation forever,” said David Smild of WOLA, an American human rights organization. “The buildings, streets and roads remained the same, but there are half as many pedestrians, cars and goods.”
A few decades ago, Venezuelans flew from Caracas to Paris on Concorde supersonic airliners. Now they are leaving a country devastated by the economic crisis and finding themselves in political isolation for their two across the border with Colombia, Ecuador or Brazil. Foreign companies leave the country together with residents, while the remaining Venezuelans are rapidly curtailing their business.
The country has become a beggar, it even got to the point that McDonald's suspended the sale of Big Mac hamburgers in Venezuela due to a shortage of bread. Even toilet paper was once in short supply. However, with such inflation, it is economically more profitable to use money instead. Medicines are also in short supply.
How did “loving” citizens react to hyperinflation, lack of drugs and toilet paper, restrictions on daily cash withdrawals from banks and accrual of pensions at Petro, which they do not accept at any store? Three million have left, the rest are trying to survive on the ground.
The topic of cryptocurrencies would never have arisen in Venezuela if the authorities had not forbidden citizens to use freely convertible money. Of course, despite the prohibitions, the country has a black currency market, so it would seem that he exchanged the garbage of sovereign bolivars for enemy dollars and enjoy life.
The problem, however, is that there is nothing for people to exchange internally. The average salary is four dollars a month, in addition, paid in bolivars. By the time you get to the local currency speculator, the papers will depreciate to three dollars.
The whole parish, as it is, is the earnings of relatives and relatives who emigrated to Colombia, Argentina, Brazil and further throughout America. How to transfer their money to Venezuela if it is forbidden to use convertible currency?
It was then that cryptocurrencies came to the rescue. Why ordinary Venezuelans from more than 1600 cryptocurrencies opted for Bitcoin? Bitcoin as a cryptocurrency, of course, is endowed with objective advantages: it is an open and decentralized payment system with genuine anonymity, an instant transaction service, symbolic commission and the absence of intermediaries.
Talk about Petro. Petro has never been a cryptocurrency, but has always been a token, in addition to a vague etiology.
Cryptocurrency is a unit of account, transactions with which are carried out in a decentralized, cryptographically protected database - blockchain. A token is a debt obligation or contract for the provision of services in the present or in the future.
Petro has never had its blockchain. At first it was stated that the “national cryptocurrency of Venezuela” will exist on the Etherium blockchain, that is, in the form of an ERC-20 token. Then the documentation was changed, transferring the "cryptocurrency" to the NEM blockchain. At the last moment, they again changed their minds and “registered” in Etherium.
There is no need to talk about any decentralization of Petro: formally, the token is tied to the price of 1 barrel of Venezuelan oil, but this value is determined not by the market rate (which goes in the range of 42–72 dollars), but by decrees of the country's president. In addition, Ayacucho 1 oil reserves in the Atapirir region, which have never been developed by anyone, are offered as a “cryptocurrency” collateral.
For Venezuelans, Petro was and remains a fiction, and the last real refuge from poverty gives them the most real cryptocurrency - Bitcoin.
submitted by IRedditGirlI to Bitcoin [link] [comments]

if Trump wins ...

I'm moving all my money to bitcoin! Black swam event, brexit 2.0 !
submitted by ncsakira to Bitcoin [link] [comments]

BEWARE OF REFUNDABLE INSURANCE SCAM ON PACKAGES (BOUGHT CARTS ONLINE)

I met a person who was advertising his weed products online and I added him on snapchat. When I added him he sent a 2-page long menu with different weed strains and carts. I eventually sent him $125 via the cash app. He seemed to run a very legit business. Someone else handled the money, he was the one who just shipped the product. Once he told me that he shipped my product he sent me this website link called flexibleshipping.net and he gave me a tracking number. The whole idea of the flexible shipping is that it bypasses scans and then gives the package to the delivery person. The website looked legit.. ish... and when I emailed the customer service with questions they emailed me back. When on the tracking page on the website, the weight of my package seemed accurate, he left a nice comment telling me to enjoy my package, and it said my shipment was active with the expected delivery date. The reason that I emailed them was that I received an email from them the day my package was expected to deliver. They said since it was a discreet package nonscanning parcel package, it needed an insurance deposit that was refundable upon delivery. I reached out to the guy I originally I bought off of and he said that it is legit and then sent me screenshots showing how other people had their money sent back to them. He told me that my package already was already shipped out and that if I didn't pay the money that they requested it would be handed over and be searched by the USPS. He was also very good at socially playing me, making me feel like he was an honest guy. He also sent me a picture of my package with his name and my name and address. I eventually caved in and sent him the money. He said that he would talk to the shipping company and let me know when it would arrive. He hasn't seen my message yet and it been a day and also no package has arrived. I'm pretty positive that I have been scammed. This is a lesson learned and I wanted to share my story so you all don't make the same mistake. Sorry, I know this is a lot of information. Comment about any questions.
The original email talking about refundable insurance is below.
Dear Client Accept greetings from our entire staff. We wish to inform you that you have, at our disposal a package registered under your names (my name was here but blocking out for privacy) pending insurance. You need to insure your package before it can be delivered to your address. According to the terms and condition of our company and In reference to Article: 594/12 Ministerial decree No. 307 which states that: All Items/Commodities And All Conditions: Used And New Exported out of the Country or state by state must be Insured and custom charges paid. Reasons to Insure With Us:
-Full Replacement value, not depreciated cash value. Multiple Coverage options: Catastrophic, Basic Risk and All Risk.-Your Freight insurance coverage placed will be Primary not Contingent:-Most of our competitors offer "Contingent freight insurance" which is coverage that is contingent upon the carriers liability and their terms and conditions. It's secondary insurance and it will only cover you if your claim is denied by the carrier. If the carrier accepts your claim, then you will receive their limited freight liability coverage which pays based on the weight of your shipment, not it's full value, . In addition, they don't cover high risk items, or high valued items.-If you want full coverage for the full declared value of your shipment, regardless of the carrier's terms, then primary coverage is the answer. Our Primary coverage is replacement cost coverage for the full declared value of the items and is in excess to the liability of the carrier; meaning our insurance coverage will come first. Don't leave it up to the carrier to decide your coverage. You want full protection of your shipment with primary freight insurance.-Coverage is provided direct from insurers with the highest industry ratings for Financial Strength and claims payment.A with AM Best and A+ with Standard and Poor's. -No Hassle, Fast and Easy Claims Processing:-The benefit of being protected by a top rated insurer, is that you can rest assured that they can pay for your loss. Our Insurer has the highest possible industry ratings for financial strength and claims payment handling. We help expedite the process by immediately submitting your claim direct to the claims dept. and keeping track of it, to make sure you're taken care of.Our Friendly Service:-Exceptional customer service is our goal and our friendly insurance agents practice it every day. We are always here to answer your questions and help assist you with your insurance needs.-This refundable Insurance is valid for 12 months, As such you can ship other items using this same coverage for a period of 12 months. Full Replacement value, not depreciated cash value. Multiple Coverage options: Catastrophic, Basic Risk and All Risk. Category for Discreet Parcels. A- First Class Discreet Parcels Requires a Refundable Insurance Fee Of $350 B-Sercond Class Discreet Parcels Requires a Refundable Insurance Fee Of $250 C-Third Class Discreet Parcels Requires a Refundable Insurance Fee Of $150 Since Your Parcel Falls under Category B (Second Class Discreet Parcels), You Need To Pay an insurance fee of $250 and $250 is Refundable upon delivery of your package, So That An Insurance Stamp can be placed on your package so we can proceed with delivery.This fee must be paid before we can proceed with the delivery of your parcel. In case Of any damages, the Insurance Company will be responsible for the cost of another package and will take care of the shipment and delivery to your address.You are required to keep the payment receipt as you will have to present it to get your Package
This Package most be insured using ***APPLE PAY=(***203)919-4812 0r through bitcoin. Once payment is confirmed, we will email the new tracking number of your parcel to you. You can contact us through this email or by phone. Your money will be refunded back to thesame account you'll use to insure your package.
submitted by johnha4 to darknet [link] [comments]

On fungilbility and the blacklisting of bitcoins

Consider a Bitcoin that allows users to trace the transaction history of their coins vs one that has "fungibility and privacy improvements" that strip this information.
Which Bitcoin would offer more utility to society? I will argue that a Bitcoin with individually identifiable coins is superior and that fears of government blacklisting undesirable coins are misplaced.
First consider that the Bitcoin with identifiable coins offers the market more information than the one that does not. Simply put, a money that provides more information to market is better than one what provides less.
Many people seem to argue this would allow government(s) to blacklist certain coins they deem illegal and then control Bitcoin. If government were to do this, argue this is simply a soft fork of Bitcoin that would be ignored. People often talk about forks in the Bitcoin code, but the code is merely the implementation of the social consensus. It is the social consensus that determines Bitcoin's monetary policy and that is the base layer at which any fork occurs, with the software fork just being incidental and along for the ride.
Suppose government where to open up nodes and hard fork to a Bitcoin that gives them 1M extra coins raising the limit to 22M. Obviously this fork would be soundly rejected by the community and would flounder. Now consider that alternatively government owning 1M coins simply decrees that 1M coins owned by others are worthless and illegal to transact with. This would decrease the supply in this forked representation of Bitcoin and, if accepted increase the percentage of the Bitcoin they own.
This may very well start off as government stripping 1M "tainted or illegal coins", but would no doubt continue once it is established that government has this power over Bitcoin's monetary supply. Soon after, government would create some nonsense reason to blacklist the coins they haven't moved in X years, claiming they are abandoned, of course doing so would be of benefit to the state--increasing the value of their Bitcoins. This would continue with the state taking more and more of they value of the money supply until it ends in the same disastrous state that always eventually results when governments have control of they money supply.
Of course, I argue that such an attempt would backfire very badly for the state & those who sheepishly obey the command to fork Bitcoin to include only government-approved bitcoins.
Let us look at an often occurring situation where there is some shitty country that has mismanaged it's monetary supply to the point people are starting to use another harder money, such as perhaps the US dollar. Imagine a situation where you live in such a country and you have half your money in USD and half your money in a rapidly devaluing Tropico Peso. You would expect to see transactions in the Peso to increase as it drives out the "good money" USD--consistent with Gresham's law. In such a situation, the USD's value would climb relative to the Tropico Peso. This should be obvious as people would rather hold the dollars and spend the pesos.
Now imagine the Tropico government decreed that it is illegal to transact in dollars. This would only serve to hasten and magnify the collapse of the Peso, as now people can hold and spend Pesos, but they can ONLY hold dollars.
It is simply the case that the value of a money does not depend very much at all on how much people are able to spend it or willing to accept it, but rather the desire of society as a whole to hold the money as a store of value over.
One such evidence of this fact that was very shocking to me, was the price of Bitcoin immediately after the Silk Road was shut down. In late 2013, a large percentage of Bitcoin transactions were related to the Silk Road and after this avenue was closed off, the price quickly grew in value.
Therefore when government attempts a GASF, to fork Bitcoin into only government approved bitcoins, they create a situation where people following this fork are going to end up paying a premium for "clean, government approved" coins that are allowed to be spent, and a situation where there are "unclean" coins that cannot be used to buy things (but can still be held). Paradoxically I would expect the illegal coins to gain in value as they are being held (and traded in black markets).
Most probably GASF would fail with the market simply rejecting the government's fork attempt, but if it didn't it would inevitably fail later when government continued to meddle with the monetary policy to enrich itself, which would be to the benefit of anyone who ignored government and bought the "illegal coins" at a discount.
In short, Bitcoin's monetary policy is determined by social consensus. Blacklisting coins would be an attempt to fork that consensus and would surely fail causing great economic harm to anyone who followed it.
submitted by ztsmart to Bitcoin [link] [comments]

Many have correctly identified the problem of government and the corporation. What is missing is a sound game theoretical design to manifest a peer-to-peer solution in an adversarial environment. If we are going to achieve the peer-to-peer vision, we must do so through economic persuasion....

Many have correctly identified the problem of government and the corporation. What is missing is a sound game theoretical design to manifest a peer-to-peer solution in an adversarial environment. If we are going to achieve the peer-to-peer vision, we must do so through economic persuasion. Neither government nor the corporation is going to willfully give up its power. If we are to succeed, we must create a new solution which makes the old obsolete. Fortunately there is a way to do this.
The core value proposition of all business models is trust/identity. All businesses match a buyer and a seller and collect a fee for doing so. The reason we are reliant on centralized businesses is because we cannot establish trust among two peers without going through a centralized intermediary. If we solve this problem, then we have made the centralized business obsolete.
A system of peer-to-peer trust can be rather easily built on the blockchain. Users register their identity to a designated Bitcoin address and link all of their profile characteristics/data to this identity. Attestation from peers is used to build a public profile. Using this public immutable profile, instead of the individual broadcasting trade requests to a single monopoly provider like Facebook, Uber, eBay, Netflix, etc, the user broadcasts trade requests to thousands of competing matchmakers. Each matchmaker recreates a complete copy of the network. All prospective counterparties can verify the trustworthiness of each other on the blockchain. They need not trust the monopolized intermediary to verify each other's reputation. By solving peer-to-peer trust, you have eliminated the very thing that allows corporations to attain monopolies -- the network effect.
By eliminating the network effect of trust, the centralized business is made obsolete. By making the centralized business obsolete, government is indirectly made obsolete. Government has no power without the centralized business implementing its decrees out of fear of getting shut down. It simply cannot control an economy of billions of individuals transacting peer-to-peer. By making the centralized business and government obsolete, the cost of trade is reduced 40%+. This is because the cost of the middleman, regulation, and extortion is removed from trade as it cannot be enforced in a peer-to-peer framework. Users will join this system not out of ideological persuasion, but because they personally profit from it.
submitted by guyfawkesfp to btc [link] [comments]

I've made 100 trades so far this year and ALL OF THEM have been gains, not one loss yet.

Moderator, slow your roll. I'm not selling anything. I've watched crypto pundits like Sunny Decree with his TA charts and The Crypto Lark saying how we have each won some and lost some. Meanwhile, I'm just making gains with a very simple plan and wanted to help demystify the success.
Everyone that's been telling you to dollar-cost-average is right. That is better than timing (guessing) market moves. But let me take that advice a little further for whoever wants to know. Here's when I get in and when I get out.
I get more bitcoin every payday. I kept asking to sell my labor for bitcoin instead of fiat until I found someone that agreed to. But even if you can't find those terms, just use BitWage to auto-convert your money into bitcoin for you. Yes, they take a 1%+ cut but so does the Exchange my clientele use to acquire the bitcoin they send me. Despite my clientele passing that cost onto me, I still see gains I would not have realized if the money was sent as dollars. I cannot change payday dates. I get paid every two weeks, regardless of what's happening with bitcoin price and it all still works out. I have not bled money.
I sell my bitcoin as my bills come in, one at a time. I don't time when to sell. Those bills creep in over the course of the month. Meanwhile, the 2 day or 2 week time passed since I got my last crypto pay has typically grown in value. Over time, the leftover money after paying all the bills keeps growing like a snowball. Eventually, I have enough new money to pay all the bills for a month without cashing out my next paycheck. I used to live paycheck to paycheck but since this bitcoin plan (of less than a year) I currently have 4 untouched paychecks queued up, each waiting their turn to be spent.
That's it. It's been a simple but productive plan. I use to hope I'd accrue at least 1 bitcoin before I can't afford to but I blew past that milestone many bitcoins ago. It doesn't require technical expertise or HODL discipline. I get paid once every two weeks and I liquidate enough to pay bills as they come in, one by one. I'm watching YouTube podcasts with all their drama and I keep shaking my head, saying to my phone screen "Gains are easy. Stop making it out to be so hard".
submitted by cooriah to Bitcoin [link] [comments]

Decred price, price and price.

The only thing that actually matter in cryptocurrency in all of the cryptocurrencies that includes Bitcoin and Decred is price, price and price and for the last time price, don’t fool yourself thinking that technology matter because it doesn’t, at least not at the moment. As at the moment all cryptos if they don’t make you money either in satoshis or actual dollars than you abandon that project, Bitcoin has all that attention because of the price and it will get more attention once the price goes beyond the all-time high of 2017.
Now in the case of Decred, this coin doesn’t have a halving so the minting of new coins gradually comes down, as right now that level is at 9.5% yearly for staking by 2024 the minting of coins will come even lower but at the moment you can expect about 10 coins or more for block, meaning that demand can be met so that price will continue to go down. But if you are a holder and staker in Decred than you are pretty much fuck at current prices, because the minting and the fact that only about 50% of all coins are being stake that means that half the coins are for sell or trade.
For holders of Decree they will need to wait some more years for the supply to reach minting levels of Bitcoins meaning that there will be pressure to sell. The people who are selling right now are miners and investor that go for a short profit, whole long time believers are stuck with coins that are less value with every sell there is in exchanges, but we decided to take that risk.
Now my message is intended for those that hold at least the price of one ticket why because they are the ones that are actually holding, why only people who at least hold 1 ticket and not 1 coin, well to have one ticket you need to either have $3000 or about 150 coins, so you have the capital and the intention to see this through.
As we all know ascis miner are being sold and bought in the market the people that buy miners for decred can point their miners to other coins that may be more profitable at a certain time, so in this case miners and stakers that stay in the project or are thinking to stay are my main audience here.
If you already bought a miner and believed in the project you need to stake your coins and pay the electricity out of pocket instead of selling your coins in the market and bring in the price down with your electricity cost. If you are only staking you need to buy at least one miner and take the cost of electricity upon yourself for that miner otherwise the price will continue to come down. So, if you are staking one ticket that means you have at least some money, you could buy a miner put it to work pay for the electricity and don’t sell your coins because of electricity, that way is the only way for the price to increase
You will also gain something else in return those coins that you are mining won’t be listed on any exchange, it is true mining is not profitable but you will get your coins free of any trail from the exchanges, the electricity cost will be your cost for having privacy clean coins.
Now you don’t need to go crazy about buying miners just buy one put it in your house mine decred, one miner no one may noticed it or know that you are mining or maybe they do but they won’t know your address.
Remember that decred doesn’t have a halving so the only way to have price pumps is in news and in users actually locking up their coins, until the supply is less the price will continue to drop if the community together doesn’t do anything and leaves things as they are price will come even lower.
Once privacy options are added your coins will be free from stains and once privacy comes online you will be golden only you will know from where you got them. Mining will help you with that.
Now in term of price as long as Bitcoin continues to go up the price of Decred may go up in dollar terms it may decline in satoshis value because of the bitcoin dominance, so at this point the only price that actually matter than is bitcoin price, because the dollar price will go up together with bitcoin, so the only one that we need to take care is the bitcoin side of things by selling less and staking more, and by mining so that big miners who are actually selling to pay their bills can be taken out of the equation.
The is the only solution to price declining to mine and to stake more, if the same people that are staking right now decided to mine and stake at the same time than the price may go up just a little bit because there it will be less people selling. But know for it to work you will need to foot the electricity bill as well. Staking doesn’t take that much money but look others are devaluing your investment so you need to go balls deep as a whole in your investment meaning those that are staking right now need to mine also at least with one miner for user.
So about $3500 for staking and about another $3000 for the miner and maybe about $1000 for electricity cost, that would mean each believer of decred will need to foot a bill of $7500.00, how possible is this for the whole community to do is everybody else’s guess, but that is what it will take for the price to actually go up and for miners to stop selling your investment.
Or wait for good news, but if prices fall for too long or too far down than price may never recover. Don’t let your greed take fully control of the community.
submitted by francis105d1 to decred [link] [comments]

Why I Bitcoin

I've always been skeptical of authority.
I've always felt that authority is exercised by those least qualified to wield it.
During the Occupy WallStreet protests we watched on as "authority" used violence and despotic tactics to undermine the efforts to bring the evils of the Central Banking system to light. Police and intelligence services infiltrated non-violent protest groups ; posed as protesters ; and then would instigate violence by looting, throwing rocks, etc. Authority was caught red-handed performing false-flag attacks against the Occupy Wallstreet protesters.
The narrative quickly shifted from exposing the Banking system to fighting police corruption/brutality.
Then Edward Snowden revealed and confirmed the biggest proven conspiracy to date. That the US Government was overtaken by the "Intelligence Services" ; that the US as a democratic, constitutional republic, no longer exists.
The leaked documents revealed that a massive Shadow government exists and has been executing a plan to monitor and have control over every aspect of every human beings life on planet Earth.
After the failure of Occupy Wallstreet many of us were livid. We didn't want to participate in this rigged game. But there was seemingly no way out. How can you fight a system that has a monopoly on the means of exchange? That has a monopoly on the concept of "value"?
That is where Bitcoin comes in. You can't fight the monolithic system. The Central banks have the world in a mass hallucination ; they are exercising mind-control on the greatest scale humanity has ever seen. The Central banks control the behavior of humans on the planet by having a monopoly on the ideas of "wealth" and "value".
https://youtu.be/4AC6RSau7r8
You can't fight the system. Its like the Matrix; where anybody who hasn't "woken up" can be an "Agent Smith" ; fighting the system would be fighting every person who consciously or unconsciously supports the system.
The way to win; is to create a better system.
People will happily buy products at the supermarket made or harvested by slaves. They will never be convinced to do something that is "right" if it negatively impacts them in any way.
So we create a system that latches on to peoples sense of greed. Bitcoin will win out not because people want to overthrow the central banks en-mass; Bitcoin will win because individuals want the profit.
Bitcoin is the biggest threat of central banks and governments that has ever existed.
The source of power is peoples beliefs surrounding wealth and authority. The people have been brainwashed into believing that wealth and authority are one and the same.
People believe that for money to have value it must be issued by a government. This belief is what gives government power to issue fiat currency. Money that has value because the government says it has value.
Fiat currency is a dastardly, criminal trick perpetrated by the highest levels of "authority"; the FED, Central Bankers, and Treasury. They are truly Rats. Bitcoin is here to end their party. As Warren Buffet puts it "Bitcoin is like Rat Poison". ; Bitcoin will certainly act like rat poison to the central bankers.
https://youtu.be/6n_xCI-peq0
Bitcoin proves that the value of money comes from People; not government decree.
Bitcoin proves that Central Banks are unnecessary
Bitcoin proves that intermediaries are not necessary for value transactions
Bitcoin proves that money can be global, border-less, and permission-less
Bitcoin proves that the Pen is Mightier than the sword. A significant portion of our military power is wielded to enforce economic priorities that improve the value of the USD. The US uses force and violence to create value for the USD. The USD requires a complex legal framework to prop up its value. Large sums of money are spent combating counterfeiting ; and billions in counterfeiting is gotten away with. With a few lines of code Bitcoin is entirely self-regulating. No need to use force or violence to give it value. No need to worry about counterfeiting. The system regulates and balances itself without any central authority.
Bitcoin is Law
Bitcoin is the definition of Wealth, Value, and Money
Bitcoin is Freedom
The world is malleable. We are all part of the New World Order ; its our responsibility to guide that Order in the right direction.
https://youtu.be/W4nSjPdT788
submitted by 45sbvad to Bitcoin [link] [comments]

Bitcoin Halving: a Harbinger of a Bull Market or Coincidence?

Bitcoin Halving: a Harbinger of a Bull Market or Coincidence?
In this article, we will talk in detail about the Bitcoin halving, find out what it is, analyze how this event affected the market previously, study the theories of top traders and try to understand what to expect in the future. So, first things first.
https://preview.redd.it/58uagqpscqq31.jpg?width=640&format=pjpg&auto=webp&s=ae0b5759cf7916fb3492685a78ca1d19d0a66a17

Inflation?

The mysterious Bitcoin creator Satoshi Nakamoto was a real genius, as he came up with a rather smart solution to maybe the most important problem of any currency - inflation. The current Bitcoin rate inflation is 4% per year, while the US dollar 1,91%, the Indian rupee 5,24%, the Russian ruble 4,33%, etc. However, Bitcoin inflation will continue to decrease until it reaches 0% in 2140.
To begin with, the Bitcoins issue is limited, in total, 21 million coins will be issued. As you know, Bitcoins are not issued by any single centralized authority - they are mined. And by analogy with precious metals, the mining complexity will constantly increase, while the reward for the work done will decrease. The whole thing is the correct implementation of source code, as well as the so-called halving, which means that the miners get half as many coins every four years. Thus, by rough estimates, the last Bitcoin will be mined in May 2140.

What is halving and how does it work?

To explain what halving is, let's first understand how Bitcoin works. So, this digital coin is based on blockchain technology, which is a decentralized data accounting book, exact copies of which are located on miner computers around the world.
As you know, each book consists of pages, in our case these are blocks. Each block has its own unique serial number. Miners solve complex mathematical equations to form a new block and receive a reward in the form of coins for the work done. The size of this reward is halved every 210 thousand blocks. Considering that about 144 blocks are mined per day, this event occurs approximately once every four years. This is what is called halving. The short Bitcoin history includes two halvings:
  1. 11/28/2012 the reward for the found block was reduced from 50 to 25 BTC.
  2. 07/09/2016 the award halved again from 25 to 12.5 coins.
The next halving should happen on May 23, 2020, then the reward will again decrease by half and amount to 6.25 BTC.

A brief analysis of the first halving

On the day when the first decrease in the reward for the found block happened, the BTC rate showed a slight movement - the price increased by only 1.7%. But if you look at the big picture, you can see that the asset began to grow several months before this event, and just continued to move up after halving. Thus, the BTC rate increased from 13 to 260 US dollars in just four months.
https://preview.redd.it/89x4xdmvcqq31.png?width=934&format=png&auto=webp&s=af38bb2957a876c9f447b411db7a7e09d5ea21bc
This was followed by a rollback in price up to $80, but later a real bull race started and lasted until December 2013. At that time, the asset grew to unimaginable values, its rate reached the level of 1150 US dollars. Well, and of course, after such an increase, a tight correction of the price and a protracted bear market followed.
Pay attention to the complexity of the Bitcoin network during this event. The chart below shows, that the hash rate began to increase rapidly a few months before the halving, and the growth did not stop after it.
https://preview.redd.it/ljb35j7xcqq31.png?width=1335&format=png&auto=webp&s=f61f7a35294d500163e495370c8ece9fd27d68f5

A brief analysis of the second halving

The second halving occurred in less than four years - on July 9, 2016. This time, the reward for miners fell to 12.5 BTC. It is important to note that the time between the first and second halvings was 1316 days or 3.6 years. Moreover, if to analyze the data, you can see that the market started an upward movement about 9 months before the event. During this period, the BTC rate rose by 112%, and after the Bitcoin halving, it continued to grow till December 2017 and stopped at around $20,000 per coin.
We can also see how the hash rate increased against the background of the second halving. The chart below shows that the complexity of the Bitcoin network throughout the bear market in 2014-2015 was about the same value, but this figure began to grow rapidly about six months before the halving.
https://preview.redd.it/wylqu1wycqq31.png?width=1366&format=png&auto=webp&s=a84acd976f6ae945c390615797234e20473fecaf
Therefore, the miners' interest in Bitcoin has grown significantly a few months before the event. And just like the previous time, the hash rate of the network continued to grow after halving.

In the run-up to of the third halving

As we all remember, a rather encouraging 2018 followed the euphoria of 2017, and the rates of all coins fell down to 90% of their peak values. According to technical indicators and the general mood in the market, we can say that the bear flag lasted until April 2, 2019. On this day, the Bitcoin exchange rate rose from $4,100 to almost $5,000, then an upward movement began. Note that this happened 13 months before the upcoming halving.
Further, the BTC rate continued to grow rapidly and reached the level of $14,000 at the end of June, followed by a rollback and the price held at around $10,000 for a long time. But on September 24, 2019, there was a fairly powerful price drop, the rate fell by $1,500 in less than a day, and at the time of this writing, the market price of one BTC coin is $8,200.
Note that the resumption of BTC growth this year was again accompanied by a significant increase in the hash rate. The complexity of the network from April to September has more than doubled, and it continues to increase.
https://preview.redd.it/dnivyfm0dqq31.png?width=1366&format=png&auto=webp&s=29c3ecbce63bfed760c0c98af0e2db5948a456d3

How will halving 2020 affect the price?

Many market participants are wondering how will the third halving affect the market situation? Unfortunately, we can’t know the future, we can only analyze the current situation, compare it with historical data and draw certain conclusions.
In this article, we take the theories of two famous traders - Bob Lucas and Sunny Decree. They both analyzed in detail previous halving and made their forecasts regarding the market reaction to the next halving.

Sunny Decree Theory

He believes that the expectation of a halving will lead to Bitcoin price rise, as it was in previous times. He uses the BLX index to confirm this theory - this is the most complete history of the BTC price on the Internet, this is data actually from its very foundation.
The first cycle until November 2012 (before the first halving) is not so important for us since at that time Bitcoin was still a fairly new concept. Almost no one knew about its existence, and there were not many exchanges where it could be traded. However, we can use the second cycle as a projection for the third, in which we are now. The key role in the formation of new cycles is not in the reduction of inflation itself (that is, the Bitcoin halving), but trading activity in anticipation of it.
https://preview.redd.it/4kczz6a2dqq31.png?width=1306&format=png&auto=webp&s=f0734155c3af4755935bcb052572585a124128f6
Each of these cycles can be divided into several phases:
  • The first phase, which is not highlighted in color, is the bull market when the price forms a parabolic upward movement and market participants are in euphoria
  • The second phase is highlighted in red - it is a bear market that afflicts traders and most investors.
  • The third phase is highlighted in orange - it is an accumulation that begins after reaching the bottom.
  • The fourth phase is marked in yellow - this is a parabolic movement after accumulation, which occurred throughout all three cycles.
  • The fifth phase is highlighted in gray - this is the continuation of accumulation until halving and a new bull rally.
It to look attentively at the current cycle (that is, the third) we can see:
  • the first phase is a bullish trend up to $20,000.
  • the second phase is a drop to $3200.
  • the third phase is flat, which did not differ in increased volatility, at that moment the whales accumulated coins.
  • the fourth phase - a sharp increase, up to $14,000.
  • the fifth phase - a new correction to $8,200 and the continued accumulation of assets.
This theory tells us about the continuation of accumulation until the next halving in May 2020, which should be followed by a new bullish trend.
Now let's move on to the price forecast. The difference between the high of the first and second cycle is about 3600%, between the second and third - 1600-1700%. That is, each time the profit as a percentage goes down, so the third cycle was approximately half weaker than the second. As a result, according to Sunny Decree's theory, projecting the estimated percentage of growth proportionally, we can expect that the next BTC high will be at around $185,000. Using the structure of the third cycle, we can suggest that the peak of the bull market will happen in the summer of 2021.

Bob Lucas theory

Next, let's look at the theory of professional trader Bob Lucas. He analyzes the so-called cycles. In his opinion, the last four-year cycle (which contained 52 weeks in the drop and 153 weeks in growth) came to its end, it took 205 weeks in total.
Bob Lucas believes that the price we saw on December 10, 2018, was the end of this cycle. It is important to understand that the video in which he tells this theory in detail appeared on his channel on April 2, 2019 - on the very day when the market began to grow, so six months later we can notice that he was right in many ways, but not in everything.
So, Bob Lucas says in his video that at the beginning of a new cycle we will see the incredible power that will rapidly push the price to new levels. Lucas noted that at the time of recording the video, a lot of people are beginning to actively buy BTC in hope on rapid growth.
He believed that in April the market was not yet at the stage of the final bull race. He said that there will be growing up to plus or minus $6,000 in the near future, followed by a tough correction that will unsettle many weak investors. In his opinion, during this correction, the price may even update the December bottom, and only after that, a new cycle will begin, which will last about 150 weeks in growth. As for the final price, he does not have a specific figure, but he believes that the rate of the first cryptocurrency will be more than 100 thousand US dollars.
He stated that a hard correction should happen around August 2019, but in fact, it did not happen. Even though he made a mistake with the time frame and the estimated rate of BTC, he predicted the vector of the development of the situation quite correctly. Recent events are an excellent confirmation of this when on September 24, 2019, the BTC rate fell by $1,500 in less than a day. It was the correction Bob Lucas spoke about, but it happened a month later than he expected. Yes, it`s not likely that the rate falls to $3,000, but in current conditions, it is quite realistic to imagine a BTC rate of $6,000. Indeed, many analysts and experts agree that the “bloody Tuesday”, September 24th was not the final fall, it caused the next phase of accumulation of assets, which will take some time.

Neironix research department opinion

Let's drop someone else’s opinion and do what professional investors usually do - just take the facts we have and analyze them with a cold head.
  1. If to take a look at the BTC chart for its entire history, you can see certain patterns that have been repeated in a cyclic form several times.
  2. These cycles are conditionally divided by halvings, according to the principle of one halving - one parabolic growth.
  3. Even after shocking price kickbacks, the BTC rate never again fell to the values ​​that were before the start of the parabolic growth.
  4. Each subsequent halving increases the cost of mining BTC, which plays an important role in increasing the value of the coin.
  5. Bitcoin Halving 2020 is a very hype event, so in any case, this will affect the price.
Can we predict the future based on this? Of course, we cannot know for sure what surprises the cryptocurrency market is preparing for us. But no doubt that the cryptocurrency market, moreover Bitcoin, has great prospects. Bitcoin should be considered only as a long-term asset, which has always shown huge returns for a long period of time.
But it is important to understand that this article is not a guide to action since the digital coin market is quite unpredictable and it is a rather difficult task to foretell any outcome in advance. Do not invest in cryptocurrencies more than you can afford to lose. If you spend more money than you can effort, then you will not be able to think rationally and survive often storms in this young market. Treat your investments with a cold mind, and then you will succeed.

Conclusion

Bitcoin has already survived two halvings during its short history, and in less than nine months, we will see another decrease in the reward for miners. If you carefully study the charts, you can see that the BTC rate always grows before the halving. And after it, the market goes into a phase of parabolic growth, it lasts about a year, and then comes the correction and a protracted bear market.
A similar scenario has already been repeated twice and many traders believe that we will see a similar picture in the future, since the next halving should take place in May 2020. We observed a significant increase in the hash rate, the number of wallets, transactions and an increase in the rate of the main cryptocurrency 13 months before this event.
Earlier that we carried a detailed analysis of the current state of the Litecoin cryptocurrency, and also analyzed its behavior against the background of the recent halving that took place on August 5, 2019. If you are interested in this topic, here is a link to our study.
submitted by neironixio to u/neironixio [link] [comments]

'Bitcoin only is a store of value' is a false narrative. Broadly speaking, crypto as a whole is a store of value.

Pertaining to the investment side of the cryptocurrency space, I believe the biggest mistake that has been made is letting the Bitcoin community monopolize the narrative that they, and only they, can be considered a 'store of value'. Having been convinced that crypto diversity is bad, the unthinking portions of the market have exonerated Bitcoin from having to prove any functional superiority while simultaneously applying scrutiny to other projects that Bitcoin itself would not live up to.
Anyone who understands anything about public blockchain technology that was started by Satoshi Nakamoto understands that it's made possibly by the combining of a blockchain data structure with a consensus algorithm that uses a token of economic value (simultaneously stored in the data structure) to incentivize network security, without which the network could not survive. This is true of all legitimately decentralized public cryptocurrencies.
Ethereum is essentially a superset of Bitcoin. Again, anyone who understands how the technology works must understand that at its basic level, Ethereum is a decentralized public cryptocurrency like Bitcoin and as such has 'store of value' characteristics every bit as much as Bitcoin. In Ethereum's case, ETH is valuable not only because it's a store of value bounded by network effect, just like Bitcoin, but in addition because ETH has the added utility of being able to purchase computation on the future world's computing surface. Imagine if your car could run literally by burning $20... just put a $20 bill in your gas tank and it's full. Would that make the dollar more valuable or less? More obviously.
I'm constantly seeing this argument in social media that all the 'shitcoins' are going to zero. But this is an unfounded and irrational talking point. Sure there will be some cryptocurrencies that rightfully drop substantially like Bitconnect (a full-on ponzi scheme), and yet even Bitconnect trades non zero still today. There is actually no mechanism that I can see for a cryptocurrency to 'go to zero' apart from being delisted from every exchange in the world at the same time.
The cryptocurrency space acts by analogy like a comet, with Bitcoin being the center gravity, and the remaining cryptocurrencies forming a long tail behind it. As the market moves toward the bottom of its cycle the tail rarefacts, lengthens and spreads thin with 'altcoins' going down in value faster than Bitcoin and of course it's during this time that all the bears and trolls come out to spread the message that everything is going to zero. But as the market moves toward the top of its cycle, as money pours into the center of gravity, value flows back into the now compressing tail, tightening it back up, 'altcoins' rising faster than Bitcoin. Assets that were decreed to 'go to zero' now suddenly are shooting stars comparatively (though with initial relatively low liquidity).
Why is this? Why don't all the little cryptocurrencies on the long tail just die off as all the trolls in the media are suggesting they should? Aside from there being little mechanism for a cryptocurrency to go to zero (as mentioned above) it's because generally the tech of all public cryptocurrencies gives them 'store of value' characteristics and therefore they act together as a collective store of value over the long term.
There are now thousands of cryptocurrencies trading, many from past crypto epochs. And there will be thousands more to come. Apart from basic diversification, I believe the fact that the crypto space as a whole acts as a store of value is another major reason why crypto index funds/ETFs are going to be popular over time. Big money is not going to fall for the false narrative that Bitcoin is the only legitimate cryptocurrency... they are too smart for that and will seek ways of harnessing the value of the long tail of crypto.
TL;DR
It's time we rebut this "Bitcoin is the only store of value" false narrative. The truth based on how blockchain technology works intersected with how markets work is that the whole cryptocurrency space essentially acts as a store of value with cyclical tail compression and rarefaction.
submitted by silkblueberry to ethtrader [link] [comments]

Today in History 02/08





submitted by Pickup_your_nuts to ConservativeKiwi [link] [comments]

❗️We trust in #Bitcoin #Enhanced!

❗️We trust in #Bitcoin #Enhanced!
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"How often did you wonder whether the current #risks of the #financial system is a decree to wake us up in order to understand that we, as humans, create our world from what we believe in and what we love?
We, just like you, want to know what we are really capable of in this world.
Bitcoin and Bitcoin Enhanced are outside of any financial system, because people themselves create value. There are no dependencies and restrictions. Everyone who owns a coin or token participates in the creation of its value - all this is extremely understandable. The system is working."
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bitcoinenhanced.io/
https://t.me/moonvoyagerbounties/8095

https://preview.redd.it/fh93efg1spe31.png?width=640&format=png&auto=webp&s=795a68950bfff554edc535a64098469757c5453f
submitted by LastCryptoHunter to u/LastCryptoHunter [link] [comments]

The most realistic Bitcoin Price and Time Forecast! Bitcoin: The most realistic Price and Time Forecast! WARNING: THIS INDICATES A LOWER BITCOIN PRICE!!! MY FINAL BITCOIN PRICE PREDICTION!!! MINDBLOWING: $100'000 BITCOIN IN 2019 - Sunny Decree's GRIPERWAVE Theory

Money has to serve three main purposes. Store of value, medium of exchange and unit of account. Currently Bitcoin covers two out of those three purposes. But can Bitcoin become real money in the futur For reference, the live real-time bitcoin price exchange rate value is: $ 9,485.38. Bitcoin (BTC) 1h 0.13%. ... These currencies have the value ‘by decree’ or ‘by the statement’ of the government. Crypto asset: A crypto asset is any token, coin, or digital currency with value. Sometimes, people will link a crypto asset to a specific ... Decred is a community-directed cryptocurrency with built-in governance designed with the goal of making it a superior long-term store of value. Decred's hybrid PoW/PoS consensus mechanism, transparent proposal, voting system, and continually funded treasury was designed to make it secure, adaptable, and sustainable. Over the last few years, many have claimed that bitcoin core has turned into, or will soon become, a store of value (SoV).Proponents of the BTC-based SoV theory seem to think that money can ... A Dutch court has ruled in favor of a petitioner who was owed 0.591 BTC by a private company. Significantly, the judgement classifies Bitcoin BTC as a “transferable value” – a strong sign ...

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The most realistic Bitcoin Price and Time Forecast!

Unsubscribe from sunny decree? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 122K. ... Bitcoin Price DUMP... Whale Manipulation?🐋 - Duration: 9:14. sunny decree 30,368 views. Tim Draper predicts the price of bitcoin after the halving! ... sunny decree 18,853 views. 12:27. Language: English Location: United States Restricted Mode: Off History Help Bitcoin Price at $1'000'000 in 2025! Stock to Flow Ratio explained - Duration: 10:02. sunny decree 34,856 views. 10:02. Bitcoin Breakout Now!!! - Duration: 53:19. 👇🏻Support the channel by using my affiliate links below👇🏻 Exchanges I'm using: Coinbase FIAT https://www.coinbase.com/join/59398125002bcc03276297d6 Bin... sunny decree 37,294 views. 12:39. BREAKING NEWS: U.S. NATIONAL BANKS CAN NOW HODL BITCOIN AND OTHER CRYPTOCURRENCIES!!! ... Billionaire Investor REVEALS Bitcoin Price Prediction 2020 - Duration ...

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