[2013] Bitcoin May Be the Global Economy's Last Safe Haven

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Winner of Bitcoin Auction, Tim Draper, Plans to Expand Currency's Use - by Sydney Ember/ Dealbook/ The New York Times.com

"When the government auctioned nearly 30,000 Bitcoins on Friday, many bidders were looking for a bargain, hoping to buy the virtual currency at a discount and flip it later for a short-term profit.

But the winner, the venture capitalist Tim Draper, is not seeking a quick hit. Instead, through a partnership with the Bitcoin exchange start-up Vaurum, Mr. Draper intends to make the coins available for use in emerging markets.

“With the help of Vaurum and this newly purchased Bitcoin, we expect to be able to create new services that can provide liquidity and confidence to markets that have been hamstrung by weak currencies,” Mr. Draper said in a statement through Vaurum. “We want to enable people to hold and trade Bitcoin to secure themselves against weakening currencies.”..."

Tim Draper is teaming up with Vaurum, which facilitates over-the-counter Bitcoin trading.Credit Brendan McDermid/Reuters


Richard

 

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Bitcoin Bulls Made the Worst Predictions of 2014 - by Jacob Davidson/ Investing/ Money/ Time.com

"Predictions of bitcoin domination may have been a little too optimistic..."

Richard

 

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Tokyo Police Figure Mt. Gox Bitcoin Heist was an Inside Job - by Richard Lawler/ Engadget.com

"It's been about ten months since the Mt. Gox bitcoin exchange turned out the lights, blaming hackers or a bug in the blockchain as reasons why 850,000 bitcoin it held had suddenly disappeared. Today the Japanese paper Yomiuri Shinbun (English) reports that Tokyo Police investigating the events have found evidence that only about one percent of the lost bitcoins disappeared due to hacking from outsiders. Citing sources inside the department, the report suggests that the rest of the 650,000 bitcoins still unaccounted for (200k popped up unexpectedly) were lost by "unauthorized operation" of the system..."

[Image credit: Photothek via Getty Images]


Richard

 

[presley]

One of the new California laws passed for the new year is that Bitcoin is legal in California. Not sure what that ends of meaning, because it certainly wasn't illegal before.

 

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Bitcoin is Getting Smoked To Start the New Year - by Jay Yarow/ Tech/ BusinessInsider.com

"Bitcoin is under $300 for the first time since November of 2013. It's down ~16% to start 2015.

After peaking at $1,147.25 in December of 2013, it's been one long, slow descent for Bitcoin.

It's not good for Bitcoin, which had tremendous hype when its price was exploding. But, it's not necessarily the worst thing in the world, either..."

Richard

 

[Conan]

I may be eating these words later this year, but I made my first bitcoin purchase today.

The price was $278 plus 1% commission.
https://www.coinbase.com/

 

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Here's Why Bit coin Prices Are Skyrocketing
From Fortune\ Finance\ Bit coin

http://fortune.com/2016/06/13/bitcoin-price/


Richard

 

[MULTIZ321]

The Great New Era of Bitcoin Isn't Happening - by Kim Iskyan, Truewealth Publishing/ Business Insider/ Markets/ businessinsider.com

"The big new thing isn’t going to replace the boring old thing that’s been around forever. Ever.

Market bubbles are often based on “new paradigm” thinking – like a new concept or technology that’s considered revolutionary and with unlimited profit potential. But as prices keep rising, and paper fortunes are made, the mania takes on a life of its own. Business realities are forgotten, and getting rich on soaring prices is all that matters. Before long, the mania subsides, and prices fall – often dramatically.

The price surge of cryptocurrency bitcoin from US$215 last summer to a high of US$763 earlier this summer is an example of this kind of new paradigm thought. Bitcoin fans envision unlimited use of the digital currency, and unlimited profits for investors. They view it as the “gold of the digital era” – a safe haven for people to park their cash when the financial world is in turmoil..."

Andrew Burton/Getty Images


Richard

 

[spackler]

Bitcoin now ~$1175 after hitting a high in the upper $1200's last week.

Kudos to those wise enough to see the value in cryptocurrency & have been buying these last few years.

 

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Bitcoin Drops 15% After the SEC Rejects the Winklevoss ETF
By Fitz Tepper/ Finance/ Bitcoin/ SEC/ Coin/ TC/ techcrunch.com

"The SEC just issued their ruling on the Winkelevoss bitcoin ETF, and it wasn’t good news for enthusiasts of the digital currency. Regulators rejected the proposed application, mainly because of the lack of regulation currently surrounding bitcoin.

An approval would have meant that the public could invest in bitcoin simply by purchasing shares in the ETF, which would trade on a U.S-based stock exchange.

The assumption was that an approved ETF would open the floodgates to both Wall Street and regular investors who want a stake in the digital currency but didn’t feel comfortable purchasing it on their own. This influx of new investors would then drive up the price of bitcoin.

Instead, the price dropped about 22 percent, from about $1,295.00 to as low as $1,000 as soon as the news broke. It’s since stabilized to about $1,120.00, which is still a drop of about 14 percent...."

Richard

 

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Bitcoin is Making a Gigantic Comeback
By Jonathan Garber/ Markets/ Business Insider/ businessinsider.com

"Bitcoin is making a gigantic comeback.

The cryptocurrency had plunged by more than 16% shortly after US markets closed Friday, putting in a low of $978, following the US Securities and Exchange Commission's ruling to reject the Winklevoss twins' exchange-traded fund. But now it's back to $1,231, up 26% from its lows and about $60 below its preannouncement levels. Bitcoin hit an all-time high of $1,327 on Friday morning.

"Based on the record before it, the commission believes that the significant markets for bitcoin are unregulated," the SEC said in its statement rejecting the Winklevoss twins' ETF. "Therefore, as the exchange has not entered into, and would currently be unable to enter into, the type of surveillance-sharing agreement that has been in place with respect to all previously approved commodity-trust ETPs — agreements that help address concerns about the potential for fraudulent or manipulative acts and practices in this market — the commission does not find the proposed rule change to be consistent with the Exchange Act."

2017 has been a volatile year for bitcoin. It gained more than 20% in the first week of the year before crashing 35% on rumblings that China would begin cracking down on trading.

But the cryptocurrency has shrugged off news that China's biggest exchanges started charging a flat fee of 0.2% per transaction in addition to blocking customer withdrawals. It rallied more than 30% over the past month in the face of that news, putting in a high of $1,237 on Friday, as traders speculated that the SEC would approve at least one of the three bitcoin ETFs.

The SEC will rule on SolidX Management's proposed bitcoin ETF on March 30 and Grayscale Investments' at a later date...."

Investing.com


Richard

 

[jeysa]

Bitcoin now ~$1175 after hitting a high in the upper $1200's last week.

Kudos to those wise enough to see the value in cryptocurrency & have been buying these last few years.

Very well formatted..almost exactly something, that i myself would say

 

[MULTIZ321]

Bitcoin Beats Stocks, Bonds, and Gold, Again
By Panos Mourdoukoutas/ Contributor/ Forbes/ forbes.com

"Bitcoin has left stocks, bonds, and gold in the dust in the first half of 2017.

The Bitcoin Investment Trust Shares have soared 220.59%, while the S&P 500 and SPDR Gold shares rose in upper single digits; and all three investments outperformed the iShares 20+ Year Treasury Bond, which gained a modest 6.13 percent.

Stocks, Bonds, And Bitcoin In The First Half Of 2017

Fund YTD Performance
SPDR Gold Shares (GLD) +7.68%
Bitcoin Investment Trust Shares (GBTC) +220.59
SPDR S&P500 (SPY) +8.17
iShares 20+ Year Treasury Bond (TLT) +6.13
Source: Finance.yahoo.com 6/30/2017 ....."


Richard

 

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People are Raising Hundreds of Millions Selling Digital Coins Online - It's Either the Future of Funding Or a 'Bubble'
By Oscar Williams-Grut/ Finance/ Business Insider/ businessinsider.com

"LONDON – Startups around the world are raising hundreds of millions of dollars by issuing new digital coins, a trend that has made people both excited and concerned.

Over half a billion dollars has been raised through so-called "Initial Coin Offerings" (ICOs) since the start of the year, according to Richard Kastelein, a partner at the Cryptoassets Design Group, a company that helps launch ICOs.

It's an incredible amount considering that ICOs were unheard of just five years ago...."

A man shows Sri Lankan coins. REUTERS/Dinuka Liyanawatte


Richard

 

[MULTIZ321]

Bitcoin Hits a Record High Near $3,500
By Jonathan Garber and Frank Chaparro/ Markets/ Business Insider/ businessinsider.com

"Bitcoin's foray into record territory continued Tuesday as the cryptocurrency reached nearly $3,500 a coin. Early buying propelled bitcoin to a high of $3,486 before sellers managed to push it back down to the unchanged line near $3,390.

The gain came ahead of a big change in bitcoin's network.


On Tuesday, bitcoin's blockchain network will begin adopting new software called Segregated Witness, or SegWit.

"SegWit is a clever solution that essentially increases transaction capacity," according to Aaron Lasher, the chief marketing officer of Breadwallet, a bitcoin technology company.

The software was devised years ago as a solution to the cryptocurrency's scaling problem, which divided bitcoin power brokers for years and led to a split on August 1..."

The opening of Hong Kong's first bitcoin retail store. Reuters/Bobby Yip


Richard

 

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If you Bought $100 Worth of Bitcoin One Year Ago, Here's How Much Richer You Would Be Today
By Lucinda Shen/ Investing/ Money/ Time/ time.com

"Bitcoin surged to a new high of $4,880 on Friday.

It must have been cause for cheer among investors who bought bitcoin a year ago.

Back then, the price of bitcoin was a more affordable $572 per token, according to CoinDesk — less than half the price of an ounce of gold. So, had an investor in theory decided to invest about $100 at that point, their stake would be worth about $850 today...."

Photographer: Tomohiro Ohsumi/Bloomberg via Getty Images Bloomberg—Bloomberg via Getty Images


Richard

 

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Bitcoin Reaches $13,000 as Futures Move Closer to Reality
By Dave Liedtka/ Bloomberg/ bloomberg.com

"Bitcoin topped $13,000 for the first time, ...."


Richard

 

[TUGBrian]

even over 14,000 tonight...

 

[Passepartout]

OMG! I just read the first post in this thread. In 2013, Bitcoin was $78. Where is my wayback machine?

 

[TUGBrian]

haha..its crazy for sure!

is another story about a guy who paid for a pizza delivery way back when with 10,000 bitcoin. today it'd be worth nearly 150 million bucks.

 

[am1]

I will be very happy when it crashes. Bitcoin offers no return on the investment just the gain. These gains are unrealistic. Remember pigs get slaughtered.

 

[TUGBrian]

Still hard to argue against the insane climb in such a short time...while pigs might get slaughtered...folks right now are making an absolute fortune!

 

[VacationForever]

Still hard to argue against the insane climb in such a short time...while pigs might get slaughtered...folks right now are making an absolute fortune!

... then it is a matter of timing the market on when to get out. You never know when it is going to collapse.

 

[Passepartout]

... then it is a matter of timing the market on when to get out. You never know when it is going to collapse.

Hell, I was wondering if it would collapse at about $100, then $1,000, etc, etc. Sheesh!

 

[VacationForever]

Hell, I was wondering if it would collapse at about $100, then $1,000, etc, etc. Sheesh!

Who knows?! I do know that my wealth manager did not invest my money in Bitcoin otherwise I would be rich by now!