So the latest update is that Blue Frontiers will not be moving ahead with the main sale. All pre-sale purchases are being refunded and varyon is still being issued with no obligations to Blue Frontiers.

The timing was just not right, the bear market plus French Polynesia taking their own sweet time to get a site approved just makes it so that moving forward with the main sale right now just doesn't make sense. Blue Frontiers is still moving forward, they're working on obtaining funding through more traditional means and narrowing their focus down to utilize the work they have already put in, mainly focusing on the sea zone and regulation side of things. The $100k contest to find a suitable seasteading location is still moving forward with about a dozen contestants moving into the second round with locations all over the world.

Hopefully the timing of having several locations along with the market swinging back upward will allow for a future sale but that may not be necessary.

So basically a whale or company that did not want to take the risk is pulling their money out of BFX the only way they can...through BTC.

Now that same risk adverse whale or company will want to convert back to their precious safe fiat currency on another exchange. Sure they lose money but have less risk. Which also drives the price down on that other exchange.

There is likely some network connectivity out there. Then I go check out the nearest island to see what's available for those wanting to go grab a bite to eat or re-supply.

Definitely no fees. Separate from Blue Frontiers' project. Hopefully staying under the radar, learning from BF's mistake of thinking that if you try to inform the public they won't still shit all over it because "freedom is scary".

So...ya...this is all natural.

Tomorrow I go out into the ocean to scout a seasteading site so I'll be missing all of the action.

Free Hat!

"block"folio

"crypto"

 

Bitcoin is crashing. We're all going to die. Time to start acquiring a taste for canned dog food. Practice this phrase: "do you want fries with that?".

Oyster & Chop. Auckland.

 

Tried but failed. 

Was Satoshi's vision flawed? Is the chain of blocks coming to an end?

You guys...I'm scared.

Just checked the price and we're under $10k.

 

Same tends to happen with gold. A huge drop in the stock market has an immediate affect dropping gold as well. But over the long term it rises due to a bad stock market.


Also...this is why we don't want to attach BTC to Wall Street.

True. If you're retired and have nothing better to spend your money on then a lambo is a good way to burn through some cash.

But if you're still working and buy a lambo...you just extended your working days by the amount you have to earn to pay for that thing (which would be the opposite of fun). Unless you enjoy your work.

Buying a lambo is like buying a shitcoin that you can show off. They both lose value at about the same rate.

It's not that they're not allowed, it's just the amount of BS you have to go through with the SEC is not worth it for a startup. There are several different approaches, the best one being that you can raise up to $5 million a year from non-accredited US investors.

The US makes it so anyone who is not rich already cannot invest in something that may make them rich. Because grandma is stupid. If she invests in something and loses her money she calls her congressman to complain. So he writes a law so no more grannies can invest their money. Problem solved.

Thank your masters for protecting you from yourself.

This should be: "who doth control English?"

Please stop messing up my language, of which I control. I have a team of grammar nazis that enforce my rule.

I've been to Vietnam "carrying" over $1 million in bitcoin. No questions asked. They have a bitcoin ATM at a pizza place. You just grab a pizza while you wait for your transaction to go through and get your dong.

Guys, I'm scared. It's still under $10k.

 

Looks like we're going down to $6450. Then back up to $6525. Then down to $6460. And up to $6515...and on and on...

Bitcoin volatility index is crashing hard.

Is this the end for the media's volatility excuse?

Volatility index currently at the lowest it's been in over a year at 2.5%.

Price started rising last time after the price was soooo boring for about a month and the index was at .8%.

In the early days when the price went up over $200 I started putting some of my coins into alts (LTC, NMC, PPC). Then I realized...I could write a program to make alt coins and just spit them out at a high rate, like 10, 100, 1000 per day. I even considered creating a simple website with a simple form (name of coin, how many, how many pre-mined, mining type, etc.) and just charge BTC for each one. It would then send you the code and executables.

This realization made me seriously reconsider investing in any more alts. When alts can be printed as fast as the Federal Reserve prints new dollars then it's a horrible investment.