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Do You BitCoin?

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6 hours ago, BuffaloBill said:

exactly why if you don't own the private keys, you really don't own the coin. 

 

they are not the only ones doing it either. we know for a fact that there is not enough Bitcoin in existence for all the transactions in the cryptoverse.

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this is kinda what we are waiting for... the influx of institutional investment money.

 

E-TRADE IS READYING BITCOIN TRADING FOR 5 MILLION CUSTOMERS: REPORT

 

https://twitter.com/nathanielpopper/status/1121868559330598912

 

So no official news, but stay tuned… great help.

...OPENING THE FLOODGATES FOR INSTITUTIONAL INVESTORS

Even talk of such mainstream institutions as E-Trade and TD Ameritrade considering cryptocurrency trading is highly positive for Bitcoin. If one, or both, make any official announcement regarding this, it could further legitimize cryptocurrency in the minds of wary investors.

 

With around 5 million brokerage accounts and assets of over $65 billion, E-Trade enabling BTC and ETH trading could considerably boost adoption.

 

Having an institutional-grade spot-trading solution would also complement forthcoming institutional futures and custodial platforms from firms like Fidelity Investments and Intercontinental Exchange.

 

Many expect an influx of institutional investment as early as this year, taking bitcoin and cryptocurrency prices to new highs.

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at a conference this morn the speaker stated that at least 50% of bitcoin transactions have been performed for criminal acts

 

 

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5 hours ago, row_33 said:

at a conference this morn the speaker stated that at least 50% of bitcoin transactions have been performed for criminal acts

 

 

How many %'s are made up %'s?

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another step in the institutional money front.

 

marketwatch.com article

Facebook working on cryptocurrency-based payments platform

Facebook Inc. is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system on the back of its gigantic social network.

 

The effort, should it succeed, threatens to upend the traditional, lucrative plumbing of e-commerce and would likely be the most mainstream application yet of cryptocurrency. It comes as the social-media giant is under intense pressure from regulators, users and shareholders to address privacy shortcomings.

 

At the heart of the initiative, under way for more than a year and code-named Project Libra, is a digital coin that its users could send to each other and use to make purchases both on Facebook and across the internet, according to people familiar with the matter. ...

 

source - WSJ (paywall):  Facebook Building Cryptocurrency-Based Payments System

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On 4/29/2019 at 7:07 PM, Boca BIlls said:

How many %'s are made up %'s?

 

The High Road situation made great use of Bit Coins

 

 

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Posted (edited)

BTC is currently up slightly over 100% from it's recent low in Dec '18. is the bear market in the rear view mirror? prolly not as there is certainly more volatility to come in the days ahead.

 

BITCOIN CROWNED ‘BEST INVESTMENT OF 2019’ BY MAINSTREAM PRESS

90 percent of all major asset classes posted positive dollar returns this April, with Bitcoin leading the way. What’s more surprising? That BTC rallied by more than 50 percent or that the Wall Street Journal recognized it as the biggest winner?


BITCOIN BEST INVESTMENT BY FAR

It wasn’t only Bitcoin that had a disastrous 2018. According to the WSJ, a record 87 percent of all assets plummeted by the close of the year. That includes stocks, commodities, bonds, and credit markets.

However, April 2019 saw a dramatic recovery almost entirely across the board. 90 percent of the 70 asset classes tracked by Deutsche Bank AG made a come back last month, including oil prices and global bonds. However: ...

Edited by Foxx

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Anyone watching 60 Minutes? 

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10 minutes ago, Augie said:

Anyone watching 60 Minutes? 

what?

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1 minute ago, Foxx said:

what?

They just did a segment on bitcoin. From birth to current. I’m sure you can get it somewhere.  

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Posted (edited)
9 minutes ago, Augie said:

They just did a segment on bitcoin. From birth to current. I’m sure you can get it somewhere.  

yep, just looked it up on their site.

 

it is basically a Bitcoin 101 segment for the (m)asses/unaware. ETA: it has a few facts wrong. the portion about the mine in Iceland being one of the places that safeguard the records is a misnomer. i have a record of every single transaction ever on my hard drive here and it could be duplicated anywhere in the world if need be. this is called decentralization and a core component of the blockchain's value. the other single most important aspect is the trustless nature of it.

 

Bitcoin's wild ride

Edited by Foxx

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30 minutes ago, Augie said:

Anyone watching 60 Minutes? 

 

mostly old people, but their ratings do improve during football season when people forget to turn the tv off after a CBS late game

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Just trying to point out it was available. I don’t have a stated position on either side. It may be the future, but it may also be the financial doom of people not wise enough to navigate those waters.  

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Clearly, those who are “in” want to promote it. 

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Posted (edited)

thanks to Flexa, 15 major retailers now accept crypto currency as payment for merchandise and services.

 

Who accepts cryptocurrency? Whole Foods, Bed Bath & Beyond and Ulta among retailers

... Global payments network Flexa in its launch Monday announced partnerships with 15 retailers to accept cryptocurrency payments. Among the accepted currencies for shoppers who have the SPEDN app are bitcoin, bitcoin cash, ether and Gemini dollars.

 

Other retailers accepting cryptocurrency-based payments include Barnes & Noble, Baskin Robbins, Crate & Barrel, Express, GameStop, Lowe's, Nordstrom, Regal Cinemas and Ulta. The SPEDN app is so far limited to attendees of the Consensus cryptocurrency conference, but it will become more widely available by invitation in Apple's App Store next week. ...

 

 

https://www.youtube.com/watch?v=VrKgkoZBIlw

 

Edited by Foxx

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Posted (edited)

Facebook announces Libra cryptocurrency: All you need to know

 

Facebook Libra

Facebook has finally revealed the details of its cryptocurrency, Libra, which will let you buy things or send money to people with nearly zero fees. You’ll pseudonymously buy or cash out your Libra online or at local exchange points like grocery stores, and spend it using interoperable third-party wallet apps or Facebook’s own Calibra wallet that will be built into WhatsApp, Messenger and its own app. Today Facebook released its white paper explaining Libra and its testnet for working out the kinks of its blockchain system before a public launch in the first half of 2020.

 

Facebook  won’t fully control Libra, but instead get just a single vote in its governance like other founding members of the Libra Association, including Visa, Uber and Andreessen Horowitz, which have invested at least $10 million each into the project’s operations. The association will promote the open-sourced Libra Blockchain and developer platform with its own Move programming language, plus sign up businesses to accept Libra for payment and even give customers discounts or rewards.

 

Facebook is launching a subsidiary company also called Calibra that handles its crypto dealings and protects users’ privacy by never mingling your Libra payments with your Facebook data so it can’t be used for ad targeting. Your real identity won’t be tied to your publicly visible transactions. But Facebook/Calibra and other founding members of the Libra Association will earn interest on the money users cash in that is held in reserve to keep the value of Libra stable.

 

Facebook-Calibra.png?w=680

 

Facebook’s audacious bid to create a global digital currency that promotes financial inclusion for the unbanked actually has more privacy and decentralization built in than many expected. Instead of trying to dominate Libra’s future or squeeze tons of cash out of it immediately, Facebook is instead playing the long-game by pulling payments into its online domain. Facebook’s VP of blockchain, David Marcus, explained the company’s motive and the tie-in with its core revenue source during a briefing at San Francisco’s historic Mint building. “If more commerce happens, then more small businesses will sell more on and off platform, and they’ll want to buy more ads on the platform so it will be good for our ads business.”

The risk and reward of building the new PayPal ...

 

 

Facebook’s Libra currency draws instant response from regulators

 

Jim Cramer: How Facebook's Libra Can Bring Cryptocurrency to the Masses

 

White paper

Edited by Foxx

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Libra: Facebook's Crypto Trojan Rabbit

... In short, Government ineptitude and/or fundamental evil created Bitcoin.

This is the essence of what Ms. Long talked about around the same time as that post in her Mises Weekend talk “Will Blockchain Free Us from Wall St.”

 

It’s a wonderful talk that focuses on the domestic reasons why the dollar is yet to collapse and why Bitcoin provides the framework in which we can craft money that isn’t controlled by a central issuing authority.

 

This is the key point that she mentions but doesn’t emphasize in her talk. For the first time in history we have been presented the option to choose money whose new units are not subject to the whims and corruption of humans.

 

That’s set by math. And math both determines the rate of inflation and the rate of trust developed by the money itself. This continues to be Bitcoin’s biggest advantage as long as the economic incentives to maintain the network remain positive and are not perverted.

 

A Farewell to Kings

 

It means no philosopher kings deciding the rate of inflation or deflation. It means minimizing rent-seeking behavior. It means an end to counterfeiting as we have experienced in the past.

 

But as I said earlier, things like off-chain settled futures contracts create ‘Paper Bitcoins’ which suppress its exchange rate versus the U.S. dollar. They are an attempt at counterfeiting through through leverage. So are stablecoins like Tether, if not managed properly and, don’t kid yourself, Libra. ...

 

 

 

 

https://www.youtube.com/watch?v=9PAINpC9FVc

 

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8 hours ago, Boca BIlls said:

One solar flare and Bitcoin will be useless. 

so will 99% of the current day transactions be.

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Man, I never pulled the trigger on Bitcoin. Missed a great run this year.  Do you see this Facebook stuff hurting Bitcoin at all @Foxx

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Never lost a dime on meadcoins Never lost a dime on meadcoins 

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1 hour ago, mead107 said:

Never lost a dime on meadcoins Never lost a dime on meadcoins 

cant pay a hooker with em either...sooo

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4 hours ago, plenzmd1 said:

Man, I never pulled the trigger on Bitcoin. Missed a great run this year.  Do you see this Facebook stuff hurting Bitcoin at all @Foxx

it does appear that we are now in a market reversal. does that mean we have left the bear market and are now firmly in a bull, dunno. one thing is certain though, we have roughly gained over 80% of the 2018 low.

 

kind of an odd phenomenon going on with crypto pairings though. back in '17 and '18 the crytpo pairing usually followed the fiat pairing. meaning that when the fiat price of coins (BTC/ETH/LTC/etc...) rose, so did the fiat value of tokens (PPP/PPT/VERI/etc...). now however, while the fiat value of coins is rising, the crypto coupling of a great amount of tokens seems to have become detached. the crypto pairing is declining as the fiat value of coins rises where the fiat value of tokens is remaining static. somewhat unanticipated.

 

 will Libra hurt the fiat value of Bitcoin, good question. in the video i posted above, Caitlin Long seems to think that there will be short term harm to the price of BTC but that in the long run it is going to benefitBTC. the reasoning she gives is that Libra is going to bring cryptos to the (m)asses. which will initially foster interest in Facebook's foray but ultimately backfire as people begin to understand the mechanics of the blockchain and the various coins.

 

many different schools of thought obviously but i still am of the opinion (and it would take something seismic to change my opinion) that BTC will always be the daddy of all cryptos, as it currently is. it has the benefit of being the first created cryptocurrency and as such enjoys great benefits that other coins of the same construct do not enjoy. BTC is slow and cumbersome, it is not designed to be an everyday conveyance of value, other coins are better suited to do that. however, because it was the first and because it is deflationary in nature (finite amount), it holds a special place. in it's pure form (no derivatives), it can not be manipulated. it is for that reason that i have been continually pounding the table that it will become an international settlement vehicle (this has already come to fruition to a small degree with at least three nation states having agreed to do this). nation states are going to like that it can not be inflated by the mere wave of the hand to bring more into existence, which would ultimately devalue their holdings like can be done with USD fiat.

 

this is a very deep subject and i could go on and on but i will leave it at this for now.

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