History tends to repeat itself, and bitcoin's crash will be no exception. The next crisis causing crash will not be the community's fault or the developers'. But the fault of same Wall Street bankers that have caused the housing bubble, the dotcom bubble and the next upcoming cryptocoin bubble. They will take their investors' money and inflate the cryptocoin bubble so big, that the crash would cause another financial crisis. People will lose their savings and their pensions, but the bankers will be sitting pretty as usual.  CME Group announced plans for bitcoin futures contracts earlier this week, a move that UBS analyst Paul Donovan has compared to the introduction of a similar product just before the tulip bubble burst in the 1600s.
The tulip craze in the Netherlands in the 17th century saw the price of the flower skyrocket. This resulted in a crash of that market in 1637.
In 1636, cash-settled futures were introduced in the tulip market. A futures contract is one where a buyer and seller will agree a price for a commodity that will be delivered on a certain date. This previously meant that the physical product had to be delivered. But cash-settled futures contracts allow cash to be delivered upon expiration.
This method was used during the tulip bubble and a year later in 1637, the market crashed.Read the full article https://www.cnbc.com/2017/11/02/bitcoin-futures-mirror-1637-tulip-bubble-crash-ubs.html |
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Where do all those analysts get their figures from? We have seen them tell us that it will rise to $20,000, $100,000 and more. But what do they base it on?
But I do agree that the crash is coming. In times of euphoria, we should start looking for what undervalued altcoins to invest in.
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@smooth. I reckon you mentioned something years ago that said that you are waiting for the mobile device hardware industry to catch up with software's needs so that Aeon could be mined and full nodes are run in them. That time is now. I hope mobile full node development is the next act after the code rebase.  Tech specs are clearly high end, as we’d expect from a flagship first phone from a company like Razer. A Qualcomm Snapdragon 835 keeps things ticking along nicely, as does the 8GB of dual channel LPDDR4. 64GB of built in storage and a class 10 microSD slot allowing for up to a theoretical 2TB in additional storage as and when cards of that size become available.Read the full review https://wccftech.com/review/the-hardware-review-razer-phone/ |
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Does anybody else think Namajunas can win vs JJ? I think she has a better chance than the 5.74 odds Nitrogen has given her. I also think she has the edge mentally. JJ could be leveling herself with all the psychological warfare she's doing against a person who just sees thru her. My thoughts exactly. Namajumas is showing maturity and wisdom in the way she carries herself. Joanna's antics appear more immature in contrast. I have Namajunas winning the talking battle. What happens in the cage can often be an entirely different story, though. There have been many fights where one person dominated in the talking and promotion, then got KO'ed in the 1st round of the actual fight. One point no one is touching upon is, one of Thug Rose Namajunas' training partners is Valentina Shevchenko. Joanna and Shevchenko have fought 2-3 times in muay thai kickboxing and Shevchenko beat Joanna every single time. Shevchenko could know Joanna's game very well and be able to teach Rose counters that might allow her to win. That theory is farfetched, Joanna's technique has changed a lot since she first came to MMA. Still it is possible that having Shevchenko as a sparring partner, someone who already beat Joanna 3 times in kickboxing, could give Rose an advantage. Cody vs TJ is similar. TJ predicted Cody's team would say a lot of bad things about TJ during fight week & TJ turned out to be right. TJ might be a little better spoken than Cody in the talking part of things. No one's giving TJ a chance but the fight could be a lot closer than many realize. Bisping vs GSP also. Bisping is probably winning the talking part of things. While GSP looks very relaxed and confident. Its possible we'll see that talking doesn't matter at all, the only thing that matters is what happens in the cage. Or maybe it will show that the talking does matter and can serve as a valid indication of how the fight will go. Good analysis on all 3 fights! I wish I listened to the first one with Joanna versus Rose Namajunas. Who would have thought it would end that way? Next time please share your MMA bets with us 1 week before the fight hehehe. I liked Rose's interview after the fight. She remained humble, very much the opposite of Joanna who is always full of herself. Sorry boogie woman, time for you to keep quiet. |
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Most people invested in this because of a big name "Tim Draper" investing in this. I remember visiting the website and thinking that if they can't be bothered to pay $50 for a wordpress theme, that they are not worth investing in. The website looked like a joke. I'm not sure how people poured over 200 million into this con.
They deserve to be sued, and to be honest, most of the investors who threw money into this deserved to get swindled. How do you invest 200 million into a company with no product, no development plan, no business plan, and almost no website?
I reckon it was the promotions company the Breitmans have hired who was responsible for those paid and hyped press releases with Tim Draper's name. The problem would now be how to prove that Tim Draper really invested in the ICO. There might also be a strong case for false advertising. |
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I am sorry to bring more bad news for the Tezos investors. But one of its ICO donors, Andrew Baker, has filed a potential class action lawsuit, accusing the Breitmans, pictured below, the Tezos Foundation and others for commiting securities fraud. Because Tezos considers and clearly expressed that the ICO is a nonrefundable donation, this legal battle will last for years. I reckon the SEC is also monitoring the situation closely, waiting for the right time to attack.  Submitted on Oct. 25 in the San Francisco branch of the Superior Court of California, the lawsuit names multiple defendants, including the Breitmans and Gevers.
Dynamic Ledger Solutions, Inc., a Delaware-based company owned by the Breitmans, the Tezos Foundation, and Strange Brew Strategies, a public relations firm that promoted the project ahead of its ICO, are also named as defendants.
The suit, filed by San Diego-based law firm Taylor-Copeland Law on behalf of plaintiff and Tezos ICO contributor Andrew Baker, alleges that the defendants violated U.S. securities law through the token sale. Specifically, the defendants are being accused of selling unregistered securities, committing securities fraud, false advertising and unfair competition ("by making material misrepresentations and omissions").
Even still, observers like Anderson Kill lawyer Stephen Palley say that the lawsuit could drag on regardless of the long-term fortunes of the Tezos network itself. The allegation that state securities laws (not just federal ones) were violated represents "a significant area of risk for ICO promoters" in general, Palley said.
Palley also suggested that the lawsuit may not be the only one filed in relation to the controversy, speculating that "copycat" litigation could emerge as time goes on.Read the mess in full https://www.coindesk.com/tezos-founders-sued-securities-fraud-potential-class-action/ |
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@izanagi narukami. I received the payment. Thank you.
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@pooya87. I understand your argument but you are still thinking about bitcoin mining. I am thinking about how useful this is for Aeon mining and running full nodes.
But I reckon the article writer also made a mistake by featuring bitcoin. He should do more research on good CPU mined coins.
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@DeathAngel. Michael Bisping is merely having a string of good fights and some luck with how judges scored them. But his skills are the same as it were, showing only minor improvement.
GSP has a better chance to win this. Have you also watched their faceoff yet? The size difference between the two is not that great. Many casual fans make the mistake of thinking that this will be like David versus Goliath.
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@buwaytress. I fear that the people behind the CME group and Wall Street will take bitcoin in a bigger and a more unsustainable bubble, and then make it crash to the lowest of lows.
I also reckon that they are better in manipulating markets all around the world than any bitcoin whale can. At least with some bitcoin whales, they understand and care about the development of the cryptospace itself, Wall Street does not.
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@pooya87. There are some people who are not as skeptical as you. They can advertise their brand all day if they want to, but if old smart phones can be used to mine altcoins more efficiently at less cost, then I do reckon they should advertise Galaxy Upscaling more.
But if you are not interested, ok. But cryptocoins like Aeon could really use something like it, not only for mining but also for running full nodes. It would be a good science project for hobbyists.
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Nice interview, Charles. I am watching it right now. Thank you.
But one question. Would the Cardano project be in direct competition with Ethereum Classic? If you think not, then what key differences are there between the 2 and how is Cardano a more advantageous investment when compared to ETC?
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Mining using old Samsung smart phones are better used on CPU mined cryptocoins like Aeon. I also posted about this a few days ago in the Aeon announcement thread and smooth looked interested and bullish about it. I reckon he might have already made contact with the people behind https://galaxyupcycling.github.io/In case anyone does not know, smooth is one of the developers behind the success of Monero. |
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What other cryptocoins are coming to the exchange? I do not mean to give any bad impressions but I can see that some of the coins listed are on the brink of dying.
Would you be interested in listing Monero and Aeon? Both coins have proven developers and they have a bright future ahead of them.
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@Biodom. The problem would be what they wrap bitcoin with in the CDO. If they take random cryptocoin scams, placed together in a tranche with some bitcoin, then rate it as a class A investment, then there shall be problems.
It is was what happened in the housing bubble. They wrapped good mortgages with the bad ones and bribed the rating agencies to rate them as class A investments.
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Call me a contrarian or a bear but I still agree with Joe Saluzzi's fear in the CME group's listing of a bitcoin derivative. I reckon that it will be the Wall Street bankers who will be bringing a real crisis in the cryptospace. They will come in and suck more money from the community, faster than the ICO scammers. Those bankers will be here to take our money, not to help bitcoin or other cyptocoins.   Saluzzi told CNBC that he liked the concept of Bitcoin, but has a problem with the idea “that on Wall Street the innovators are trying to package something up and put a derivative label on it when they really don’t know what’s underneath.”
“It reminds me of the financial crisis all over again,” he said.Read the article http://fortune.com/2017/11/01/bitcoin-6600-high-cme-futures/ |
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I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.
When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct: @very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.
I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year. It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins. |
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@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.
I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.
So stop looking for answers in the wrong places and start looking for cryptocoins that are worked on by proven developers.
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Is there really strong growth of businesses in the cryptospace? I cannot imagine that there would be one. Bitcoin is more like a savings coin and not a spending coin like fiat currencies. How can there be growth if bitcoin owners only want to keep having more instead of spending them?
First world countries' economies have grown the way they did because of spending, not saving.
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What a boring way to win the driver's championship. I do not know why the fans are happy.
The season started with high expectations with the faster cars and the new rules. I thought the sport was going to be exciting again. Let us hope 2018 will be better.
I will also be following Max Verstappen's career very closely from now on.
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