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Novogratz: There May Be a Bubble in Bitcoin, But Bitcoin Itself Isn’t a BubbleLegendary billionaire hedge fund investor Mike Novogratz stated that there may be a bubble in bitcoin in certain regions but the cryptocurrency itself isn’t a bubble. As CCN previously reported, Novogratz noted that bitcoin and the cryptocurrency market could become the biggest bubble “of our lifetimes.” “I think this [crypto] is going to be the biggest bubble of our lifetimes by a long shot. To be fair, this is a bubble and there’s a lot of fraud mixed in. We look at tons of projects. And some get funded, and they literally look like Ponzis,” said Novogratz. Novogratz further emphasized that there were many bubbles in the past around innovative and revolutionary technologies such as the Internet. The dotcom bubble for instance overvalued projects by significant margins, with several companies selling at billions of dollars by owning a domain or an online business. But, the Internet itself was evidently not a bubble. It has transformed every industry in the world by revolutionizing communication and processing of information. There was a bubble around Internet, as demonstrated by the dotcom era, however the technology itself was not a bubble, a fraud, or a scam. READ MOREI think this is true we can't compare bitcoin with the previous bubbles such as dot com and tulip bubble, bitcoin is way different from those two. Bitcoin has a lot of investors that will never it burst if it is a bubble.
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JPMorgan Strategist: Bitcoin Futures Could ‘Elevate Cryptocurrencies Into an Emerging Asset Class’ JPMorgan CEO Jamie Dimon might consider bitcoin to be a “fraud” that “will not end well,” but one of his top strategists anticipates that the launch of bitcoin futures could turn cryptocurrencies into “an emerging asset class.” As reported by CNBC, Nikolaos Panigirtzoglou, a global markets strategist at JPMorgan, said Friday that the addition of bitcoin futures contracts to regulated trading platforms will lend credibility to cryptocurrency, making it more appealing to both institutional and retail investors. “The prospective launch of bitcoin futures contracts by established exchanges in particular has the potential to add legitimacy and thus increase the appeal of the cryptocurrency market to both retail and institutional investors,” Panigirtzoglou said in a report. This prediction is no longer just a mere hypothetical. Following months of anticipation, Chicago derivatives exchange CME revealed Friday that it had received CFTC approval to begin trading bitcoin futures on December 18. In a separate announcement, fellow Chicago trading platform CBOE stated that it had filed a product certification for a bitcoin futures product with the CFTC. Nasdaq Inc. and Cantor are also reportedly planning to launch bitcoin derivatives. Although the futures will be cash-settled — meaning that no actual bitcoins will change hands during any part of the transaction — several mainstream financial analysts believe that the presence of bitcoin-derived products on regulated exchanges will ultimately reduce the volatility of the underlying markets and help the nascent asset class to mature into a regular financial instrument. READ MOREBarely 3 months after their CEO called bitcoin as a fraud and even threatened his employees of being terminated just for owning one, their global markets strategist is now seeing bitcoin's bright future. Will Jamie Dimon fire him because of this statement or are they benefiting from the current price hype of bitcoin? |
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Recent news around Bitcoin could be very tasty for fast food lovers! Betting giants Betway have released odds for people to take on the cryptocurrency being accepted by McDonalds by next year. It seems that the sharp rise in the price and mainstream popularity of the cryptocurrency has led to a real feeling that the fast food giants will accept it as a payment method soon. Currently, the betting is 1/2 and this could see many people taking the wager with odds so short. It’s not only McDonalds that may accept Bitcoin What is more amazing is that Betway has not only limited the odds it is offering on Bitcoin becoming an accepted payment method to McDonalds. Retail stalwarts Argos are in at 4/5 to begin accepting Bitcoin payments by late 2018, while travel giants British Airways are currently showing as 1/3 to do the same. In what would be a major move for them and their customers, the all-conquering Amazon are in the running too, with odds of 6/4 being given by Betway. READ MOREIs this the reason why the price exceeded the $10,000 level again today? It is really a good news if Mc Donalds, the largest fast food chain, will accept bitcoin starting next year. I wonder how will banks react on this when they really do it. |
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Bitcoin's booming value has driven a huge rise in crypto-currency themed malware, say security firms. In one month, anti-malware software company Malwarebytes said it stopped almost 250 million attempts to place coin-mining malware on to PCs. Symantec said it had seen a "tenfold" increase in the amount of malicious code connected with crypto-cash. Cyber-thieves are using both dedicated software, hacked websites and emails to snare victims. Cashing in "There's been a huge spike," said Candid Wuest, a threat researcher at online security firm Symantec, adding that it had been caused by the rapid increase in Bitcoin's value. On 29 November, the value of one Bitcoin surpassed $10,000 (£7,943) - a massive increase on the $1,000 each one was worth at the start of 2017, although that figure has now fallen back sharply. "With $10,000 being breached, and all the hype, a lot of people are trying to make money with crypto-coins," said Mr Wuest. Most of the activity seen by Symantec and other security firms involves crypto-coins other than Bitcoin. This was because it took a huge amount of computer power to produce or "mine" bitcoins. By contrast, he said, mining other crypto-coins such as Monero could be done on desktops, laptops and even smartphones. Many of these alternative coins had risen in value alongside Bitcoin, said Mr Wuest. READ MOREBitcoin mining using other people's resources. The brightest idea that a person who wants to have a bitcoin can do. Imagine how much hashes they can get if they successfully installed those malwares on other peoples computers. |
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Recent news stories make it pretty clear that the new people in bitcoin have no idea what they’ve gotten themselves into. Bitcoin is the Gom Jabbar of high finance. Cypherpunks who have populated the space to date hold the line because they do not care about money, and therefore do not fear. These new people are different. The only reason they are here is the money. They reek of fear. When we consider that money from fresh, naive amateurs is flowing into the sector at a rate of millions of people per month, we should also understand that these amateurs are more susceptible to the animal spirits than their stoic, abrasive, less-socially-adept, battle-hardened forebears. They will be prone to cut and run. As such, a shock to the system, such as an exchange being taken down in a necessary and overdue enforcement action, could lead to a loss in confidence in the entire cryptocurrency ecosystem as a whole and a stampede for the exits the likes of which bitcoin has not seen to date. In a recent post on my own blog, I pointed out that bitcoin, by setting itself up as a sort of decentralized bank, was also creating an unreasonable expectation to its new "depositors" that they will always be able to redeem their assets at par, given a wild mismatch between its $200 billion "market cap" and new investor money – which is clearly well shy of that number. This expectation is dangerous as it means, in the event of a liquidity crunch, people will behave not as people necessarily behave when there’s a sharp sell-off in a stock, but more along the lines of when their bank’s solvency is being called into question. Remember bank runs? As bitcoin qua decentralized bank is running a fractional reserve with a chronic shortage of dollars, a shock therefore has the potential to not just drive the price of bitcoin down a little bit, but also lead to a major liquidity crunch and abject panic. READ MOREMore and more negative news are released against bitcoin after it showed that it can really go beyond $10,000. Can we consider this as a move from within? From people who wants to have a lower price for the coin for them to buy more at a lower price. |
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SYDNEY (Reuters) - Bitcoin hovered around $9,600 in volatile trade on Friday, after tumbling about 15 percent from an all-time high hit this week as some investors warned ominously of a bubble and further falls in the stratospheric cryptocurrency. Bitcoin was down 2.8 percent at $9,612 in early Asian trading on the Luxembourg-based Bitstamp exchange, from a record peak of $11,395 set on Wednesday. On Thursday, it went as low as $9,000.. The latest slide has tempered an astronomical rise in recent months: Bitcoin was up almost 1,100 percent year-to-date on Wednesday. As of 0200 GMT, it was still up around more than 900 percent. One wealth manager said technical chart analysis was predicting deeper falls. “A correction could bring bitcoin back to its previous level of chart support of around $7,500. That’s over a 20 percent drop from its current price,” said Shane Chanel, equities and derivatives adviser at ASR Wealth. READ MOREA positive way to report the current price change in the crypto world. Good thing there are reporters who sees the price this way. |
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Rotorua journalist Alison King started investing in Bitcoin in August. She has been in the UK for about a year, returning to New Zealand next month. So far, she's put in about £400 of her own money into Bitcoin and has seen her account with UAE-based trading firm USI-Tech rise to be worth £1000. "I'm currently getting $25 a day in return but I reinvest. I'll start to withdraw that when it hits $150, it sounds like a long time but by rebuying with my returns and the compound effect that will only be a couple of months," she said. "USI-Tech pay out 140 per cent on your capital buy-in, it's a much better deal than with any bank and so many places are accepting Bitcoin as payment these days it made sense to me... Just yesterday someone posted that they could quit their job at 32 as they were getting £700 a day back. I don't expect that much but I know it will mean the difference in part-time and full-time work." READ MOREI don't think that it is the beginning of the end, it is normal for the price to have several correction after a common threshold was met. There are people who opted to sell their coins of course but I believe there are more people who believes that it is just the beginning of something big. |
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On August 1, a dissident faction of the Bitcoin community created a new payment network called Bitcoin Cash. There are lots of Bitcoin-derived spinoff currencies, of course, but this was unusual because it branched off from the existing Bitcoin blockchain. The result was the cryptocurrency equivalent of a stock split: everyone who owned one bitcoin before the split suddenly owned a "cash" bitcoin after the split. Today, the value of Bitcoin Cash in circulation is about $20 billion. That makes it the third most valuable currency, after only the original Bitcoin and Ethereum. And this appears to be newly created wealth. The value of vanilla bitcoins didn't fall significantly on the day of the split, and it has since zoomed upwards so that the value of all conventional bitcoins is now around $150 billion. With that kind of money on the table, it was inevitable that others would try the same trick. In early November, another group of Bitcoin developers publicly launched the Bitcoin Gold network. This version of Bitcoin swaps out Bitcoin's current mining process—where people compete for bitcoins by computing SHA-256 hashes using custom-designed mining hardware—with a memory-hard algorithm that, designers hope, will make it resistant to acceleration by custom hardware. The creators say they want to re-democratize Bitcoin mining, once again making it possible for anyone to earn Bitcoin Gold with their home PCs. Like Bitcoin Cash, Bitcoin Gold split off from the main Bitcoin blockchain, so everyone who owned a normal bitcoin before the fork got a "gold" bitcoin after the fork. But the Bitcoin Gold team added a controversial twist: after the fork, it rapidly mined approximately 100,000 bitcoins for itself before opening the network to the public. Bitcoin Gold is now worth around $270 per bitcoin, so the team essentially created a $27 million endowment for itself, which it says will support development of the Bitcoin Gold project. The Bitcoin Gold network as a whole is worth $4.5 billion, making it the sixth most valuable cryptocurrency after Ripple and Dash—and slightly ahead of the earliest successful Bitcoin fork, Litecoin. The question now is who is going to try this trick next. The answer is: a lot of people. In recent weeks, a bunch of different people have announced plans to create new currencies. There's Bitcoin Silver, Bitcoin Platinum, Bitcoin Diamond, Bitcoin Uranium, Bitcoin Cash Plus, and Super Bitcoin. READ MOREI doubt that people will still believe those forked coins after what happened in the previous forks. Forked coins are just really based on their fans and has no chance of replacing bitcoin. |
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Bitcoin is continuing its upward trajectory, hitting a record high above $11,000 this week. Yet, despite its rising value, hedge fund platforms are rejecting cryptocurrency funds as clients. Brooklands Fund Management, Mirabella Advisers and Privium Fund Management, which deliver regulatory help for investment firms, have all had discussions with bitcoin funds, reports Bloomberg. However, all three have not taken on any as new clients. Clayton Heijman, chief executive officer for Privium in the U.K., the Netherlands and Hong Kong, said: The biggest risk we face is: is this hype? Is it a fad? Or is it here to stay? Is it the Tamagotchi from 20 years ago? While Oz Eleonora, founder of crypto-asset investment firm Zinica Group and a board member of the Blockchain Institute of Technology in the U.S., claims that there are ‘huge risks’ involved for the platforms, adding: They’re scared. They want to participate, but there’s a lot of reputation at risk. If you introduce a bitcoin fund without addressing the compliance properly, you’ll anger both the regulator and your client base. READ MOREI don't think that we can consider bitcoin as a fad, it is not something that after you bought you can't trade anymore. Tamagotchi can't be used to buy anything 20 years ago. If you buy bitcoin today you can use it to purchase something. It is a currency. |
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The boss of Goldman Sachs became the latest high-profile critic of bitcoin, claiming it is a vehicle to commit fraud as the value of the cryptocurrency plunged 20% in less than 24 hours. Lloyd Blankfein, chief executive of the US investment bank, said: “Something that moves 20% [overnight] does not feel like a currency. It is a vehicle to perpetrate fraud.” His comments came during another wildly volatile trading session for the digital currency, which plunged by over $2,000 in a 24-hour period. Having topped $11,000 to a reach new record high of $11,395 on Wednesday, it fell to a low of $9,000 on Thursday, before picking up slightly later in the day. Blankfein said Goldman did not need to have a bitcoin strategy, adding the digital currency would need to be a lot less volatile and a lot more liquid to justify closer attention. “When do I have to have a bitcoin strategy? Not today. Life must be really rosy if that is what we are talking about,” he said. “Bitcoin is not for me. A lot of things that have not been for me in the past 20 years have worked out, but I am not guessing that this will work out.” READ MOREThese people are really against bitcoin, and are only giving negative feedbacks about it everytime. I wonder how many bitcoin do they really own., |
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"LONDON (Reuters) - Bitcoin slid to as low as $9,000 in volatile trade on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday. BTC=BTSP." The cryptocurrency fell as much as 8 percent on Thursday on the Luxembourg-based Bitstamp exchange to hit $9,000 exactly, marking a fall of well over $2,000 in under 24 hours. It then edged back up to trade at around $9,400 in the hour that followed, still down roughly 4 percent on the day. (Graphic: Bitcoin searches exceeds that of Trump - reut.rs/2zSavA6) One market-watcher attributed the fall to outages in bitcoin exchanges and the heavy price surge of recent times. “Naturally a few of the early bitcoin traders are taking some profits off the table,” said Charles Hayter, founder of CryptoCompare.com. “Volatility is in the market at the moment and that means both positive and negative moves.” The latest fall has tempered an astronomical rise for the cryptocurrency in recent months - bitcoin was up almost 1,100 percent year-to-date on Wednesday. As of 1500 GMT on Thursday, it was still up around 880 percent. READ MOREThey should also realize that bitcoin gained the same amount in less than 24 hours. No one should panic about it since bitcoin just returned where it came from almost the same price before it crossed the $10,000 barrier. |
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Bitcoin.com owner and Bitcoin Cash proponent Roger Ver has called Bitcoin ‘cripple coin’ despite prices rising over $11,000.
In comments on the r/BTC subreddit celebrating 50,000 transactions on cryptocurrency gambling site SatoshiDice, Ver defied optimism about Bitcoin’s 1,500% annual growth.
“As cripple coin is passing $10,000 SatoshiDice is about to surpass 50,000 on chain transactions with Bitcoin Cash!” he announced.
Ver has become increasingly outspoken on Bitcoin’s flaws since Bitcoin Cash (BCH) came into being in August. Despite erratic price and mining behavior, the entrepreneur formerly known as ‘Bitcoin Jesus’ has publicly divested himself of large amounts of BTC holdings in favor of the alternative chain.See more. I really don't know where Roger Ver is getting his sentiments and confidence in saying that Bitcoin is a 'cripple coin'. He keeps on telling negative things to Bitcoin despite of its positive growth while promoting his Bitcoin Cash. Why can't he just talk about Bitcoin Cash without attacking Bitcoin in his statements, once and for all he was a prominent supporter of Bitcoin back then, no doubt that he invested a big amount of his assets and pride with BCH. |
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Bitcoin has finally surmounted the greatest psychological barrier of all, passing $10,000 and showing no signs of stopping. Following a week of consolidating at all-time high levels around $8,000, Bitcoin found the strength to move up powerfully over the Thanksgiving weekend.
Black Friday saw the currency hit new highs in the upper $8,000s before surmounting the $9,000 level Saturday and immediately charging toward the $10,000 mark Sunday. These price increase come on unusually high volume, with fear of missing out (FOMO) bringing new investors in rapidly.
Bitcoin has had a stunning year, by anyone’s accounting. Having started the year at just under $1,000, the price jump to over $10,000 represents some incredible changes. This growth is not a flash-in-the-pan either, but is supported by growing mainstream adoption and massive trading volume. In just the past 24 hours Bitcoin’s trading volume has exceeded $5 bln. See more. Bitcoin is a fraud no more. It is just like what happened last year as Bitcoin started to pump in price when the month of December is coming, maybe because many people are getting their 13th month salaries and starting to put some of their moneys on Bitcoin and that's just only one reason as there is so many reasons behind this price hike. |
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I just like to post my 1 year anniversary in Bitcointalk.org and share my experience after a year. As far as I remember I first discovered Bitcoin because I did some online task in a website that is paying a very small amount of $ and I am earning a small amount of cents on it back then and one day they announced that they are thinking to pay the workers with Bitcoin if a large portion of us agrees to it as a payment in the future payouts and that is the day that I got curious in what is Bitcoin all about. At first I am so innocent in what is this digital online currency is all about and I am shocked to its value back then, it was $635 per 1 Bitcoin when I saw it. And I searched it over and over again until I understand what it is and how to use it as a currency and guess what it was very hard to understand it because most of the terms that is being use is not familiar with my vocabulary like cryptocurrency, cryptography, Bitcoin address, Bitcoin wallet, etc. I got so interested with Bitcoin since I knew it and until now I still have a lot to learn about it and every single day of my life is almost into it. The value of it now while I am typing this is $5,738.06 and it already break $6,100 price last week, Bitcoin is always make me interested day by day because of its price and the growth of it in just a short period of time as everything can really happens in an instant. Feel free to share your Bitcoin experience here at my thread if you want. I would surely write again a post just like this with my 2nd year anniversary next year  |
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Just a thought.
Why does Bitmain still sell their Antminers if they know for a fact that its ROI is 6 months.
They have all the opportunity in the world to monopolize Bitcoin mining since they don't
have any competition on manufacturing Asic machines.
Or is it the reason why they always lack supply because they are also investing on it like for
every one machine that they sold another one is being placed on their own mining facility.
I just had this thought because as far as I know Antminer is the only profitable machine
for bitcoin mining and never heard of other company manufacturing the same.
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$10,000,000 for a piece of Bitcoin this is the amount that the coin should reach in order for it to be a replacement for fiat. And this amount was even calculated by Hal Finney way back in 2009. Screenies of a forum conversation between Satoshi and Hal Finney.  |
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Bitcoin is ‘Fast, near Real-Time and Convenient’: Philippines Central Bank Official The Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, published regulations for bitcoin exchanges earlier this year. In a statement at the time, the central bank said it “recognizes that virtual currency systems have the potential to revolutionize delivery of financial services particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.” https://www.cryptocoinsnews.com/bitcoin-fast-near-real-time-convenient-philippines-central-bank-official/ |
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I came across several threads on the forums about bitcoin as their source of income, people leaving their day jobs just to focus on campaigns here in the forum.
Why most of the people in the forum sees bitcoin as currency that you need to spend everyday? On my opinion at this point of time for bitcoin it is better to consider it as an asset, an investment that if you keep it there is a big chance that your investment will grow. Think of its future potential, at this time each coin cost $5600+ when maybe about 100 million people who is using it. imagine what will the price be if 1 billion people uses it in the future how much will the price be? And this also applies to alt coins. As much as possible keep you coins and wait for the price to boom.
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It seems that Bitcoin is back to wherever it is before and I really don't know what happened, can anyone tell me please. As I thought that the downfall of bitcoin will be resulted of too much transaction that will be done of the panic sellers but it seems the reverse happens, I just sent my transaction with a $0.01 worth of bitcoin within 25 blocks and I can also choose to send it within the next block for only $1 worth of bitcoin. Any thoughts?
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I offfer a service about Twitter re-auditing for some twitter users that already audited their twitter accounts and can't audit it again.
I can only do this service once a day in your account.
0.001BTC = 1 re-audit
Kindly shoot me a pm for fast transaction.
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