If I was his place, I would have remained invested and purchased the whole company after 10 years. That will be possible when Bitcoin reaches 10 million mark or more in future. If I was in his place, I'd have remained quiet and not spashed my name across all the press. I expect people were asking him how he could afford his Lambo, and he couldn't say, "my day job gave me a rise", so he had to tell them the truth. This is the downside with these types of cars - they attract attention to you. |
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Wall Street is starting to claim that bitcoin and stocks are correlated: https://www.cnbc.com/2018/02/07/wells-fargo-strategist-bitcoin-and-the-market-are-correlated.htmlIf the bitcoin bubble bursts, the stock market may go down along with it, said Christopher Harvey, head of equity strategy at Wells Fargo, who sees a correlation between the two.
"On Monday what we saw is all risk products sell off," Harvey said Wednesday on CNBC's "Fast Money."
A hit on the market, he said, can cause investors to panic and begin selling bitcoin as well.
"It sometimes adds fuel to the fire," Harvey said. I hope he is wrong about the correlation, because stocks are due for a big crash and I don't want bitcoin blamed for it! |
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Taxes, like death, are inevitable.
In the UK, bitcoin is treated like an asset, so you have to pay capital gains tax. There is a tax-free allowance of £11,000 a year, and any gains above that are taxed at 10% unless you are a higher rate taxpayer, in which case you pay 20%.
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The head of the World Bank compared cryptocurrencies to “Ponzi schemes,” the latest financial voice to raise questions about the legitimacy of digital currencies such as Bitcoin. “In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically Ponzi schemes,” World Bank Group President Jim Yong Kim said Wednesday at an event in Washington. “It’s still not really clear how it’s going to work.” https://www.msn.com/en-in/moneyThe key words there are "I'm told" - some lobbyist has gotten to him. What was so refreshing about the US senate hearings on bitcoin is that the participants had actually tried to do some research - Giancarlo actually went through the process of buying and tried to get a feel for the market and the community. I wish top officials elsewhere were as dilligent. |
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Wall Street is looking at the Ethereum platform: https://cointelegraph.com/news/the-ethereumization-of-wall-street-is-inevitable-expert-takeThe Ethereumization Of Wall Street Is Inevitable
The mainstream media has become obsessed with the crypto frenzy with the main focus on Bitcoin price. By treating cryptocurrencies like any other asset class or just as a fad, journalists are missing the elephant in the room: investment banks are about to be disrupted big time.
These days it is much easier to raise funds through an ICO than through traditional venture capital funds. As a result, there are already more than 1,500 cryptocurrencies out there. Just a few years ago, it would have been unthinkable for a small company with just a handful of employees to raise millions of dollars on the back of a simple white paper. Now, startups can do it with just an exciting concept and a white paper of a few dozen pages (sometimes less). Thanks to the ERC20 standard that uses the existing Ethereum Blockchain, anyone can launch a token at a limited cost without having to worry about building a Blockchain infrastructure from scratch.
Obviously, Ethereum can be taken by another, more advanced platform. But for now, it makes more than 80 percent of the market. Out of the 580 tokens out there, 475 are on the Ethereum Blockchain.
The genius of the Ethereum Blockchain was making fundraising so incredibly easy: all you have to do is create a smart contract to do an ICO. Every time ETH (Ethereum tokens) are sent to the contract address, the contract issues newly minted tokens that are automatically sent back to the sender. Wall Street should be terrified because Ethereum has just made investment banks redundant.
Book building (the process of lining up investors to buy security to be issued) has historically been very juicy for Wall Street, and investment banks acted as intermediaries between asset managers and companies or governments wishing to raise debt (bond offerings) or equity (IPOs). Until recently there was no way to bypass them. Now there is. Banks have not started feeling the pain yet, but venture capitalists have. Nowadays, it is not uncommon to see them in the list of pre-ICO investors (see the upcoming Telegram ICO). VCs have to adapt or be history, and Wall Street is next. |
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On this site, it's mostly hodlers.
If you want to know about new investors, your best guide is to look at Google Trends for the keyword "bitcoin". What usually happens is noobs read about bitcoin in some news article. Then they google it to find out more. Then they register on an exchange like Coinbase. They might also go to reddit to find out more. They rarely come to bitcointalk (though in 2009 - 2013, this was the go-to place for information).
When google trends is down, it means noob interest has waned.
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The lambo meme has reached CNBC (and thus the masses): https://www.cnbc.com/2018/02/07/bitcoin-millionaires-are-buying-lamborghinis-with-cryptocurrency.htmlMusicians and star athletes come to shop for luxury cars at MotorCars of Georgia, a dealership just outside of Atlanta.
Quavious Marshall, better known as Quavo of local rap group Migos, bought a Silica White McLaren 720S from there in November. Ricardo Lockette, a retired Seattle Seahawk wide receiver, posed for an Instagram photo with a blue Lamborghini Huracan in December. Even Shaquille O'Neal has stopped by.
Last fall, the dealership also got a visit from Peter Saddington, a seemingly unassuming 35-year-old coder who is neither a rapper nor a celebrity.
He caught the attention of the dealership though — and the internet — by cashing in 45 bitcoins to drive away with a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115.
The bitcoin enthusiast's Lamborghini purchase isn't just a crazy bargain. It reflects a trend of the new rich spending their cryptowealth on the Italian super car. |
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You know how when Bitcoin started getting traction, the press responded with stories about how it was being used by criminals? Well, litecoin is getting traction - and guess what? The press is responding with stories about how it is being used by criminals: http://fortune.com/2018/02/08/litecoin-monero-cryptocurrency-bitcoin/Bitcoin, which has for years been the currency of choice on the so-called dark web, is falling out of favor among criminals. This is not surprising given bitcoin’s sluggish processing times, and law enforcement’s growing ability to track its transactions.
More surprising is what these criminals are turning to instead. Rather than using one of the newer digital currencies with extra privacy features, such as ZCash or Monero, the most popular alternative is the bitcoin clone, Litecoin.
Those are among the findings laid out in a new report by Recorded Future, a threat intelligence company that monitors criminal forums on the dark web where many illegal transactions are arranged. Here is a key paragraph from the report:
Litecoin emerged as the second most popular currency, with 30% of all vendors who implemented alternative payment methods willing to accept it. Dash is closely trailing Litecoin with 20% of the market. Unexpectedly, Bitcoin Cash was the third most common cryptocurrency with 13% of vendors trusting it as a payment method.
The report also notes that Litecoin is especially popular in Russia, while English speaking countries favor Monero, which many people consider all but untraceable. |
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My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.
Can anyone recommend a US bank that is crypto-friendly?
a) Try a credit union b) don't send more than about $1000 to your account at a time. They have algorithms that kick in for larger amounts. You need to be patient and sell your coins slowly and withdraw slowly. |
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Are you looking for the real reason behind the massive declines we've seen recently?
The answer is 2 words = Interest Rate.
The US is going to keep on raising it and investors are looking for save haven that pays sure dividends ... so the US Dollar that everyone has buried in the last decade is outperforming all the Cryptos, and soon the EUR/USD will hit a parity (it's $1.25 now, it won't stay like this for a long time).
History always repeats itself, one way or another.
This is definitely a factor for the hedge funds and institutional investors. Why take risks when you can earn a risk-free return on bonds? Also - I think people are sceptical that bitcoin can repeat it's spectacular gains. It went from $1000 to $19400 in a year. To repeat that it would need to reach $190,000, which seems improbably. As bitcoin matures the percentage gains will get smaller. |
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Anyone who is expecting a strong reversal will be in for a very big disappointment. The bitcoin market does not work that way, not anymore after institutional investors came in.
Bitcoin is in a stage where there will be small pumps followed by stronger dumps, and then a long moment of going up and down in a range near the bottom.
@alyssa85. But that is a log scale. Try drawing trendlines with a regular scale.
Log scales give you a better idea of what is going on, especially if there are large movements. |
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The only countries that are banning bitcoin and other cryptocurrencies are those that have capital controls - like China, which is experiencing capital flight.
The USA does not have capital controls, and has nothing to fear from bitcoin, and quite a lot to gain from it (new asset, new technology).
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The first thing you learn when the internet began was never give up personal info or passwords. When children go online we tell them bit to give away personal information. Sure on Facebook you must use your real name but that is only your name. KYC is more then just a name. I think people who are willing to give a stranger online their personal info are insane. It's the first thing you learn not to do. Why do they need that info? Money launder? That's been going on since the beginning of time and always will and is a weak excuse for justfying KYC.
yes this is what should be done, I have no problem with (KYC). I fully agree with what you describe. But there are many who are frightened by this kind of verification, some people think the data can be misused, it is indeed such a potential.
I already get spam ads from banks and other places and I never gave my phone number to anywhere I can think of. So I must have given it to somewhere and already it's been shared. Same with my email address. Now they want to know more about me? No Thanks. The last time I gave my address and name to gain access to a casino bonus they kept sending me mail in the post and it was very intrusive. Most ICO will not use the info for wrong doing but if you handing your KYC over there and everywhere eventually the wrong person gets it and you get doxxed or extorted? No thank you. This. Unless exchanges can compensate users if the exchange gets hacked and their info gets shared, then KYC is a huge risk. And the exchanges won't compensate people - even orgs like Equifax got hacked, and no-one gave them permission to collect information. |
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I disagree. If you fully read the blog, you will see how Roger Ver is trying to trick the newbies and making them think that Bitcoin has split into Bitcoin Core and Bitcoin Cash. Why call it "Bitcoin Core" in the first place? Is he trying to make them believe that Bitcoin Cash also has legitimate claim to the Bitcoin brand?
What a crafty little mole he is.
Because Bitcoin's qt-wallet literally says "Bitcoin Core" when you load it? It was the Core team that named their coin "Bitcoin Core". |
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hey everyone i was looking at bitcoin charts and i feel like we are in a replay atm if what i think is right then we still have 1 more dip before back to $13k~15k BUT if this happen IF THIS REALLY HAPPEN this last dip gonna going to be "deep" i predict $4k maybe $3.500 if bitcoin hit $9k before this.. i'm gonna sell everything to rebuy later someone think like this too?  I think it might dip, but it will dip to the $7,000 level, where there is support. Someone on bitcoinmarkets on reddit posted the following chart:  As long as the price stays between those two lines, we're still on an upward trend. |
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I think much better to stay but if you afraid to lose better to sell and exit..
Agree. If you are anxious, it's because you have staked more than you can afford to lose, and that is making you vulnerable to panic selling. Reduce your holdings to the point where you are only investing what you can genuinely afford to lose. |
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When I said more countries are going to ban crypto or bring strict regulations some of the cryptomaniacs got mad and lost their minds and attacked me but finally I am right and the new inside news which I have got is more countries are going to follow it. Doomsday are ahead. Don't believe in HODL anymore. Pretenders are going to pretend and play with innocent people's money.
If you will listen to me you will be out with minimum loss. Many people thanking me as I exposed this scam on Jan 10th and gave solid info how it is going to fall from Jan 12th. They are happy they got out when it was at ATH. Some people who din't trust me are crying as they lost more than half of their money. If you can get out of this madness now, you will atleast be left with half of your money rather than not getting a dime if you keep on Holding by trusting the HODL believers.
Actually USA came out with positive news! This is what stabilized the market in past 24 hours. IMO most of the big countries will come up with some level of regulation in 2018, but this is inevitably, because crypotos are too big now to ignore it. We're going to see a divide in the world. The free countries that don't have any capital controls are going to legalise and regulate, because they see potential in the technology. The countries with capital controls like China are going to continue to ban, because they fear people moving money - capital flight costs them more than the benefit from bitcoin technology. |
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When does bureaucracy helped anyone in life?
Seriously? Go back to the 19th century and eat bread stuffed with plaster of paris when wheat prices were high, and choke to death. The only reason practices like that stopped is because of regulation. Some regulation is good. It's better for stuff to be sensibly regulated and taxed, than to be either banned or left unregulated so that the scammers come to dominate teh market. |
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