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Must read book about the Federal Reserve, it's history and it's implications for our future.
Anyone involved with Bitcoin would love this book and what it means for the owners of Bitcoin.
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Call me a pessimist,( or maybe that is optimist) but I think there will be at least one and perhaps several corrections, economic crisis, wars and political developments that will push BTC to well over $100k. -Death of the Petrodollar, usd no longer the only world reserve currency -Negative interest rates (now being discussed at the Bank of Scotland) -financial collapse in the Chinese banking system, as well as the US, either of which would trigger the other. -War. Middle East, threatening the flow of oil. Europe, with Russia making a move on Ukraine and/or Baltics. South China Sea, with China establishing aggressive territorial waters disputes. -And about 20 other scenarios that could require a move to safety in crypto currency. Yup, happy days are here again as the world burns and all us Bitcoin owners become billionaires. The one thing that is for sure is that the dollar will lose value. http://razorsforex.blogspot.com/2016/08/the-impending-global-negative-interest.html"It is precisely at this point that digital assets and currencies like Bitcoin will begin to gain serious traction with small businesses and consumers. Bitcoin has a fixed supply and can’t be inflated away at the stroke of a pen. The coming global negative interest rate environment bodes very well for the future of Bitcoin and digital assets outside the legacy financial system. " |
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My plan for storing more than 25 but less than 50 Bitcoin is to have 10-30 in Coinbase Vault, 10-30 in Trezor hardware, and 1-5 in Breadwallet for IOS based mobile.
Passwords and seed phrases copied on laminated paper, and stored in a safe and separately in a safety deposit box.
No putting all eggs in any one basket.
Process in doing all above is ongoing.
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I really do think the "Bad news is good news" idea is depressing, at least for everyone not owning Bitcoin, but it may fund my yacht, so.... http://razorsforex.blogspot.com/2016/08/the-impending-global-negative-interest.htmlThe Impending Global Negative Interest Rate Regime Bodes Well for Bitcoin By Razor 6:41:00 PM No comments Image credit: historyofbitcoin.org The widely-publicized Bitfinex heist, which is the second biggest Bitcoin exchange hack after MtGox in 2013, may have a short term negative impact on the way general public perceives the novel technology. However, the Bitcoin blockchain - the backbone of the digital currency - was never compromised and the network continues to function without a hitch. The same could not be said for the world’s financial system! Big brokerage houses like Interactive Brokers have already begun implementing negative interest rates on clients holding EUR, CHF and SEK balances. And negative interest rates have also begun to creep into corporate banking as well. Today, Royal Bank of Scotland announced that starting Monday, corporate clients such as fund managers and pension funds will be charged for holding cash in certain foreign currencies, including the euro. According to a Daily Mail report, RBS stated that negative interest rates may also be applied to small business; that is if the Bank of England decides to cut interest rates into negative territory to stimulate the sagging British economy. Most of Europe and Japan are already in a negative interest rate regime, with the US and UK very likely to follow suit in the coming months. Consumers have so far been spared the direct sting of negative interest rate as banks have tried to absorb some of the cost by increasing fees on some services, but as the RBS has already demonstrated today, this will not be the case for much longer: “Until now RBS has absorbed these costs and imposed a zero per cent minimum on deposit rates. But it said this was no longer sustainable.” It is precisely at this point that digital assets and currencies like Bitcoin will begin to gain serious traction with small businesses and consumers. Bitcoin has a fixed supply and can’t be inflated away at the stroke of a pen. The coming global negative interest rate environment bodes very well for the future of Bitcoin and digital assets outside the legacy financial system. |
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I honestly think, if you are long term, that the gains in the next 10 years will make the fluctuations in the last month pale comparison to the gains long term.
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Is Trezor compatible with IMac?
Sounds like Breadwallet but in an iPhone, in concept. Better or worse?
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The possibility of the price to reach $2,000 this year is very low, if you look at the price now, it is falling back so there is no chance that it would happen, may in 5 to 10 years from now we can see it but not at this very young age of time.
After the hack on the Bitfinex, I think it might be even more difficult for the bitcoin price to reach $1000. Yeah it won't be happening soon damn hackers, i just hope his transactions gets blocked/locked by bitcoin services/exchanges. What if..... The hackers attacking Bitfinex were employed by whales in a scam to depress the price prior to a big move up? We could see a big bounce off the bottom to ATH. A mini Mt Gox pump and dump of sorts. |
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Owning Bitcoin as an investment requires some balls people.
By the time the move has started and you get scared, it is over. Same for a 'to the moon' phase.
Timing the price is just about impossible, and those scared selling are emotional which makes you lose money.
Slow investment, a little every month, and ignore these burps. It is called 'dollar cost averaging' and it gets people rich.
If you believe in bitcoin long term than calm down.
If you don't you should not be in it to begin with.
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For those panicking, get out. You are short term and you hodling are just keeping me from buying cheaper coins.
I am long term. IF i lose it all that is ok, I will survive, but I will continue to buy as much as I can spare every month despite these burps.
Unless there is some huge failure or disaster, this is only temporary, and just like investing in anything you can't get emotional.
If you can't handle the volatility of something like Bitcoin which is volatile and very young, then either don't look or get out and release the support keeping bitcoin so expensive. But keep in touch, I might need a deck hand on my yacht in the future. I will pay you 150 Satoshi's a day, if you work hard.
LOL!
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It shouldn't matter. If you researched Bitcoin and invested in it, the only other question is if you are long term or short term.
The short term investors should have sold a while ago, while long term investors will know the long term prospects are worth the risks.
Good luck to all.
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Is this a possibility? Since some states can have razor thin victories and defeats, could this be an answer to a verifiable election?
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I may be the eternal optimist, so be forwarned, but I see the stability in the slow growth in price after the halving as a long term good sign. If there were massive volatility in price gyrations it would be a sign Bitcoin was seen as a vehicle to make money from the volatility as opposed to a store of wealth with intrinsic value.
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Bread wallet is the best IMHO due to it adhering to the very principles that are Bitcoin, individual control of keys, independence, security and decentralization, while making it as easy to use as possible.
Thank you voisine for your excellent work.
With that in mind, it would be nice if the font was slightly larger for my old eyes, but that may be an IOS issue in general, and color coding "send/sent" with red and "receive" with green would add consistency with the ledger page. TIFWIW, but regardless, Breadwallet is my favorite by far.
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First China, and now Russia. Perhaps even the controlled economies can see the advantage of a universal currency. http://www.newsbtc.com/2016/07/13/russian-political-party-proposes-legalize-bitcoin-property-rights/Russian Political Party Proposes to Legalize Bitcoin Posted on 4:07 pm July 13, 2016 Author Joseph YoungCategories Bitcoin News 2 091dadbe-2533-471d-90d4-9cf630f66b6d Titov Boris, the Presidential Commissioner for Entrepreneurs’ Rights in Russia and the Leader of Right Cause party, is trying to lead the Party of Growth to create clear and transparent legal regime and regulations for cryptocurrencies including Bitcoin. The Party of Growth, which represents liberal free market economy and democracy, believes that the Bitcoin blockchain technology is developing rapidly around the world, including Russia. The party proposes to legalize Bitcoin mining and officially recognize Bitcoin property rights. During an interview with TASS, a Russian news agency which has worked closely with various Russian government organizations for well over a century, Boris stated the importance of cryptocurrencies such as Bitcoin in the economy of Russia and its impact on the finance industry. “We [Party of Growth] estimate that over 2 million Russian citizens have opened their own Bitcoin wallets,” stated Boris. He further emphasized that the Bitcoin blockchain technology and its merits could positively contribute to the struggling economic situation of the nation. “Russia can take advantage of the difficult economic situation Russia is dealing with today by opening up to the blockchain technology,” continued Boris. With the help of Titov Boris, the Party of Growth will make changes to the law on foreign investments to attract foreign investors to invest in Bitcoin startups and mining firms in Russia. Boris hints that the party could convince the government to remove restrictions on investments in Bitcoin to spur the growth of the digital currency in the country. The Party of Growth also plans to utilize the Bitcoin blockchain to conduct conventional government operations. Specifically, Boris explained that using the timestamp of Bitcoin transactions, the Russian court can secure their records and data onto a irrefutable decentralized ledger. Over the past few years—despite several appearances of Russian president Vladimir Putin on national television to discuss the legality of Bitcoin in Russia—Russia still hasn’t establish any form of regulations or clarifications on the status of digital currencies and the rights to use them to settle financial transactions. The statement of the Party of Growth and Titov Boris will lead the Russian government to officially recognize Bitcoin as an asset and allow Russian citizens to trade the digital currency without dealing with unsettled policies. Image Source http://www.newsbtc.com/2016/07/13/russian-political-party-proposes-legalize-bitcoin-property-rights/ |
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i just stumbled over the potential bullish news OF THE YEAR (if true!) (sorry fakhoury  ) (forum member elwar pointed it out in the wall observer thread.) http://btckan.com/news/topic/20469With the publication of the Civil Code General Provisions Draft, virtual properties and data have officially become Chinese people’s rights, what this means is that cryptocurrencies e.g. Bitcoin, virtual currencies e.g. online gaming tokens and data information, e.g. Big Data, shall all be officially recognized as Civil Right Objects.
Yesterday(June 27th ), the session of the 12th National People’s Congress Standing Committee(China’s Congress or/and Senate) was held in Beijing. The session reviewed, for the first time, the illustration on the PRC Civil Code General Provisions(Draft) Proposal, which was brought to the floor by the Chairman Meeting of the NPC Standing Committee. Within the draft, we see articles on virtual properties and data information, classifying them as new type of civil right objects, this means that virtual properties and data shall officially become people’s rights.
There are 2 articles concerning virtual properties and data information. Article 104: Objects includes immovables and movables. Specific rights or virtual properties defined as property rights objects by the Law, shall be treated accordingly. Article 108.2.8: (Intellectual Properties includes)data information.
Previously, the Constitution and the General Provisions of Civil Law had blurred articles on virtual properties, but, left room for further clarification: the Amendment of the Constitution in 2004 explicitly confirmed the protection on citizen’s legal private properties. This term of legal private properties had left great room for the clarification of Civil Law Property. While in the Civil Law,“private properties of citizens include legal income, real estates, deposits, livelihood appliances, historical relics, books and materials, forests and woods, livestock, other means of production granted by laws and other legal properties.” Virtual properties were not explicitly defined as citizen’s legal properties, but the term“other legal properties” left room for further clarification.
Also, China Central Bank’s The Notification on Preventing Bitcoin Risk in 2013 also clarified bitcoin’s nature. The Notification addressed that bitcoin is not published by monetary authorities hence lacking currency nature such as law-enforced-compensation and enforceability, and concludes that bitcoin is not a true currency. From its nature, bitcoin is a certain type of virtual commodity. It does not enjoy the same status of a currency in law. It cannot and should not be circulated and used in the market like a currency. But, bitcoin transactions is an online transaction of commodities, ordinary citizen enjoy the freedom of participation on their own risks.
if true, china is legalizing bitcoin. full blown. last bubble collapsed 2013 because china unofficially banned bitcoin. if no more "china-bans-bitcoin" damocles sword is hanging over bitcoin, rockets will ignite. This is profound. I believe that there is a perfect storm forming: -Brexit, maybe more exiting, -BTC seen now as a safe place to store wealth -now China is accepting the inevitability of BTC -Greenspan claiming a disaster is coming to the dollar -The halving A perfect storm. Now seriously, any one of these can be positive for BTC, but the explosive possibility exists that we will be having a Bitcoin investors party for those who own a few BTC, on some tropical beech somewhere within the next two years, not to have to work another day in our lives if we wish. This is the most fun you can have with your pants on and without wearing a straight jacket. |
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best time to invest in bitcoin was when the price was last year below $300 till $400 this year.
Best time to buy was 6 years ago when a bitcoin was worth less than a penny. 4 years ago when bitcoins cost less than $10 wasn't too bad either. Last August when coins cost less than $200 was still a great time to stock up. Hopefully we all did. For those who didn't discover Bitcoin until recently, it's a great time to buy. Any appreciable dip is a great time to buy. Yes, the price may dip further but that's just another buying opportunity and if you hold long enough the value of your coins will multiply. I am only buying, as I can, and hodling. But, man if I only started six years ago, the cost of one Bitcoin today would pay for 63000 then.... If only I could time travel, I would go back in time and max out my Visa card and become a Bitcoin mega-whale, and then travel to the future after time travel is perfected when Bitcoin is over a million a Bitcoin, and I would be able to afford a time machine! ( But knowing me, I would then forget to go back in time and get the cheap coins, and then cause a rip in the space/time continuum destroying the universe, so it is just as well) |
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