I hope I can get more at the rate of .21 like last time...

time to pull out another 21 bcash

I think this is Ver's motivation all along for bcash.

If you look into the code closely you can see:


#finally I have my revenge! ahhahahaha!!!
10 goto transaction id: 5jsdf8sdu0a8ew0asd8fasduf0s8dfasvhjdhfaoisdufa98;
20 reverse transaction;
30 print "here are your 4.53231 bitcoins you were scammed out of Roger";

yes, bcash is now written in Basic...

Here's what I see happening with these ICOs. The SEC will start hitting a lot of them hard.

Recent statements have basically said that the SEC sees ICOs as securities if it fits the criteria of a security, which most of them do (you merely need to mention that the tokens purchased will go up in value and they will consider it a security). They already hit one company that had to give back all of the money they raised.

Almost every ICO incentivizes people to promote their token in compensation for tokens which is also illegal, they will start going after those people.

If the company is not a US based company they can only sell to accredited investors. If they are in the US they have to register with the SEC and can only raise $50 million per year under Regulation A. Otherwise you can't have any US investors.

ICOs are ETH's "killer app". It will go down in flames.

Plus Rootstock released their smart contracts on the Bitcoin blockchain and are testing on the mainnet. No more need for ETHs for smart contracts, especially if you want your smart contract to have the ability to exchange directly for bitcoins.

If Tezos survives the SEC they will have a better version of smart contracts coming out in early 2018.

That reminds me of an ICO for a company that I read about that was following the rule of law in the strictest fashion. I was only able to read the "white paper" under NDA, it was restricted to investors in only a few provinces in Canada. They would sell their tokens but keep the private keys of all tokenholders to protect them. Their contingency for if they were hacked was to just duplicate the chain and re-issue everyone new tokens. How would they know who to issue them to? They would gather all of your information when you buy the token and you could not sell your token except through their exchange where they have the names of the people you sell to.

It hurt reading through the white paper. It was shown to me by a lawyer asking if that was something we should do for Blue Frontiers as they were satisfied that it covered all of the bases as far as legality went. I went off on every bit of it but basically summed it up saying that if we wanted to do that...just create a central database and call them shares and be done with it.

I learned long ago that posts on this thread have no influence on price since the big money moved in. We are all small fish, even though some are bigger small fish.

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

It's looking like this bubble might pop soon.

I did this, it is fun:

1. Download the 'eclaire wallet testnet' on your phone.
2. Swipe left, get your receive address (2NEQJkk....)
3. Go to: https://testnet.manu.backend.hamburg/faucet
4. Enter your receive address (or scan the QR code)
5. Swipe app right (twice), click the +
6. Click Autoconnect
7. Put 5 or so mBTC in the "Channel capacity"
8. Wait about 20 minutes (you might need to repeat steps 7,8)
9. Once your Lightning Channel says "NORMAL", swipe left.
10. Go here: https://starblocks.acinq.co and order a coffee.
11. Check out and click the "Scan a payment" with your app.
12. Pay.

I seriously thought that 15% dip after 1000% gain this year was the end of cryptography.

I burned all of my private keys, opened up my server to telnet instead of ssh, stopped using a website if it was https instead of http and moved to a wooden house in middle of nowhere.

Yep, I'm glad it didn't follow the short term upward trend it was on...it would have needed to double in 4 days to continue. Then the crash would have been yuuugge.

Staying over $10k will keep the medium term upward trend going.

things are quiet...

The only reason nation states would want to manipulate the bitcoin price is because they have a lot of bitcoins.

Like how they manipulate gold prices.

It looks like last night we went through the full bubble cycle in like 6 hours, including return to the mean (on GDAX).

So...some of us remember the early days when someone with a good chunk of money, like $10-50k could come in and move the market around and we saw a lot of volatility and watched as the walls moved things up and down (hence a thread to watch those walls).

The response to such volatility was that as the market grew such small amounts wouldn't be able to manipulate the market and things would stabilize. But now we have financial firms and big time investment companies coming in doing the things that the small whales did in the early days.

The same response to the volatility holds true, eventually the market cap will be so big that even those big firms can't move the price very much.

Then come full nation states trying to move the price.

You have a bitcoin car?

Is GBTC, Bitcoin Gold?

Please say yes.

Here is a bitcoin price calculator that lets you plug in your own numbers and see what the price should be.

http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

It was created years ago and is just an alpha version.

I spoke to a tax accountant that specializes in expat and bitcoins. She quoted me a $50k fee to do my taxes going back a few years to ensure full compliance. Half of the fee was for "research". I didn't feel like I needed to pay $25k to have my accountant do some google searches.

As with most things, it will be better to do things on my own. I just need to gather up all of the things I spent bitcoins on in the past few years and calculate things out. Might be tedious work but best to get it over with. Pay ISIS some money (through the US govt) and move on to doing things smarter next year.

My gf does localbitcoins in Thailand. The price is higher in India for some reason. She gets people from India who come here, take out baht from the ATM, buy bitcoins from her and immediately sell it on the Indian exchange to get rupees, which they can then withdraw again from the ATM. The limiting factor one guy says is the daily withdraw rate on his ATM.

But this is shortlived...over the past week the baht price has gone above the US rate and is evening out with India.