Bitcoin Transactions Per Day - YCharts

100 Days later. From noob to moons. I wrote this “guide” based on my journey into crypto.

It’s already been 100 days. What a ride it’s been. I created this account and joined this sub not long after I bought my very first ETH. That’s right, I skipped Bitcoin and my first foray into crypto was Ethereum. I was never sold on BTC and even when it was booming back in the day I didn’t feel like I missed out on anything. I just don’t believe in it if I’m being honest. I respect everything about Bitcoin and Satoshi (whoever you are) sounds like a genius and a revolutionary but I don’t see the use case potential with it. I consider Bitcoin like the Metallica of crypto, a little analogy for myself. I’m a big fan of bands like Tool and The Deftones and I give credit where it’s due to Metallica for paving the way for them to be able to make new music. Bitcoin started the movement but I was sold on the progressive thinkers that followed it. Ethereum is my main commitment and always will be. Vitalik is a very weird person and that is what drew me to it initially. I saw a Vice documentary when I was first looking into crypto to understand and they also included a bonus bit with him. Those were enough to spark my interest and it sort of sent me into a wormhole of research. That was back in March.
I like to think I’ve come a long way. Since I was unemployed I decided to spend my spare time studying crypto. I started with exchanges. Being from Canada my options definitely seemed limited, as a noob at least. Google helped most of the way by putting in things like “Ethereum explained” and “How to store crypto” which brought up a lot of useful information. Overwhelming to say the least. But I didn’t stop at the basics. No, no, no. It made me fascinated with blockchain as a technology beyond cryptocurrency. I read the Ethereum Whitepaper after the Bitcoin whitepaper because everyone should read that one. Satoshi started this, if you don’t understand why he(or she or however they identify) created Bitcoin then you will never understand cryptocurrency fully. Then it came time to buy some.
I initially tried eToro and was immediately hit with the “service not available in Canada” issue. So I searched exchanges in Canada and found Coinberry, Shakepay and the already defunct Quadriga. Thankfully the quadriga news was easy to search so it didn’t take long for me to become paranoid about my investments. Coinsquare was also an option that turned out to also be a scam. After eToro I tried Coinberry and I submitted my KYC info and all then crickets they ghosted me. I’d been in contact with customer service prior to submitting and they seemed fine until then. I persevered. Shakepay was next. Fingers were crossed going into this one. I chatted with Shakepay customer service for the better part of an hour on my first day. I asked all of the technical questions and also the stupid ones. I wanted transparency and got it from them. So I bought 1 whole ETH. Next I had to figure out a wallet.
This was difficult. I didn’t need a hardware wallet for 1 ETH, that was overkill. I learned early that the exchange isn’t safe “not your keys not your coins” is a common expression. So I found that middle ground in Atomic Wallet. I did a lot of searching before settling on them. Metamask was the other thought but when I had taken a solidity crash course I struggled with it and didn’t try again. The other wallet options I considered were Exodus Wallet and Guarda. I don’t want to break this down to a full wallet review but I will say that I use both Atomic and Exodus and they are great. I’ve never had an issue and the customer service communication has always been great. They’re transparent and helpful as long as you don’t try to attack them and blame them when you have issues.
What I liked about Atomic when I first looked into it was the very helpful knowledge base they’ve created. The embedded links are to the wallets respective educational resources. If you asked me I’d say people don’t spend enough time reading at least the FAQ of a wallet, exchange or app that they use. Personally, I have read just about every article on both Exodus and Atomic (aside from the ones that repeat the same thing) so that I don’t have to ask everything. If you do take some time, and not that much, you will see they state “We will never ask you to enter your seed for any reason” and that would prevent so many phishing scams, which is what happens when people think they’re hacked. I think it’s important that everyone takes a moment to read about how to avoid being phished. Also check this one about things like pump and dumps and ICO scams.
Now about the community. This place is awesome and I’m glad that I found this sub. It is certainly one of the best subs I’ve joined. I’m also subscribed to just about every single other crypto sub you can find, I like to know what’s going on in every project. I have my favourites and there are a few I’m certainly opposed to but I try to remain as unbiased as possible. I don’t let my investments influence my arguments because that makes it too emotionally driven. I argue with what I’ve read and learned about and am always willing to be told I’m wrong. The moons were such an important factor to that. When I first started into crypto I thought that moons would impact ETH price because I though “reddit is huge, everyone will want ETH after” but I was stupidly wrong. I would never think that again but I wanted to admit so everyone knows that we all start without basic knowledge in this. I wanted moons but my new account wasn’t allowed to post. I had to wait 50 days. What did I do? Engaged in other communities. I learned from other projects. Knowledge is power and it’s by learning and by gaining that knowledge before I could post it only took me 4 weeks to earn 35,000(nearest makes no difference) moons.
During my pre-posting time I read multiple whitepapers for projects like NEO, Ripple(to which I am known to be opposed to but bias aside I’ve listed), Stellar, Komodo, Vechain, [Cardano(not really a whitepaper more of a “why” paper)](https://[cardano.org/why/) and so many more.
I just wanted to link some so that people can read some varying whitepaper to get the differences in ideas. It’s tedious but these are the best ways to understand what’s going on and what the potential of blockchain is. I also got comfortable with reading charts because it’s important for learning trends. I don’t know all the technical terms and buzzwords for patterns but I recognize rhythm and patterns in things and combine that with my own best guess to figure out what to move for. I like statistics so it isn’t boring to me to read them. I mostly use Coingecko for tracking coins and the news section is great. I have made a list of favourites(my own top 40) and I check them daily. Multiple times daily to be honest. I also use Cointelegraph for news, I like their artwork. I also use decrypt because they tend to have more Ethereum and Altcoin news.
Anyway, this has gotten beyond long enough. I hope it is helpful to some. I kind of wish I had found a resource with everything I needed to know to get started in one easy place. There isn’t. But this is a good way to get started.
Thank you for reading. Everything I say is open to constructive criticism but let’s keep it sensible and respectful.
submitted by ethereumflow to u/ethereumflow [link] [comments]

Consensus Network EP35: Cryptocurrency and Asymmetric Risk with Teeka Tiwari

Catch the full episode: https://www.consensusnetwork.io/podcastepisodes/2019/9/8/ep35-cryptocurrency-and-asymmetric-risk-with-teeka-tiwari
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is no stranger to the show. He's a guy who grew up in foster care and came over the US at the age of 16 with just 150 bucks in his pocket and the clothes on his back. And then by the age of 18 becomes the youngest employee at Lehman Brothers. By 20 he becomes the youngest vice president in Lehman history. Later in his career he goes on to launch successful hedge fund and lived the Wall Street dream. I mean he's known on Wall Street as the guy who's made a fortune on what is known as asymmetric risk which is what we’re going to talk about in quite a bit and for the rest of us, for many of us that is, he is best known for being the editor of the Palm Beach confidential newsletter which focuses on digital currencies and I am a subscriber to this by the way. Teeka, welcome back to Wealth Formula Podcast, Teeka Tiwari.
Teeka: Thanks Buck. It’s a pleasure to be here and thank you for having me.
Buck: Yeah so you know you were on not too long ago and some people are listening to the stuff about cannabis and they're probably thinking to themselves, why is this guy talking about cannabis and digital currencies like what is his specialty? In fact the way I'm thinking about this there's one main thing that they have in common, they're both in this area that you call and we call asymmetric risk which is really your thing. Discuss what that means and if you would how have you applied it to your own growth and ultimately to your own wealth.
Teeka: So before I get into asymmetric risk I want to talk about how I discovered asymmetric risk and how I changed the way that I yeah. So when I was in my 20s I developed a lot of wealth by taking massive risk in the stock options and commodities market. And I would bet huge positions. And then that all came to an end in the late 90s when I was on the wrong side of a series of trades that were triggered by the Asian financial crisis which ultimately compelled me to file for bankruptcy. And so I had lost about ten years of wealth creation which was considerable at the time. And what I learned was that I had to change my approach that I couldn't get it all every single time otherwise I would never get off this boom-and-bust merry-go-round. So what I realized was is that I would I would build the portfolio of somewhat safer more income oriented investments and then I would focus on these ideas that are called asymmetric risk trade. So what's an asymmetric risk trade? An asymmetric risk trade is where you can take a relatively trivial sum of money and if the idea doesn't work out it doesn't impact your net your net worth or your day-to-day lifestyle in any way shape or form. But the asymmetric part of it is is that if it does work out it can absolutely move the needle on your net worth. So an example of that would be something like neo which I recommended at around 12 cents that ended up going up to about a hundred and sixty one dollars so that's something that you could have put a thousand dollars in and turn it into over a million dollars. That's a classic asymmetric trade. So what I what I tell my readers is you can't build your whole portfolio around high-risk asymmetric trades. But if you take let's say five to ten percent of your liquid net worth and allocate it to these types of situations in a and one of the things I talk about is using uniform position sizing, what you put yourself in the position to do is absolutely grow your network sometimes three four five six X without putting your current lifestyle at risk and it is a sweet spot of wealth creation that I've created and popularized now for several years that has not only transformed my financial life but the financial life of many of my readers.
Buck: So as you know Teeka my group the Wealth Formula Group in general I mean there's a lot of people who are well-to-do they're you know accredited investors they have you know typically probably more money to invest than others they're you know and I say this because there is a little bit of a difference there when it comes to somebody who's barely getting by living check to check, that there is an opportunity in your portfolio to say okay what percentage of this portfolio could I put in that I mean listen if I lose it no big deal I mean I won't be happy about it but it won't hurt me that much on the other hand this could explode. Now when you look at it from the perspective of somebody who's got a fair amount of money and link who's investing you know several hundred thousand dollars a year or maybe a million dollars or something like that like what do you think is a reasonable amount of a portfolio? Like I know for example that even universities are getting into this and they're looking at hey maybe you know 1/2 of 1% or something like that I mean I know you're not in the business of giving financial advice but I'm just curious kind of what your approach would be in terms of allocation.
Teeka: So again generally speaking I would say 5 to 10% of your liquid net worth. So let's say you've got a business that kicks out a million a year that you have to allocate for your investment 50 to $100,000. Definitely nobody likes to lose 50 or a hundred thousand dollars but it's not going to have a material impact on your lifestyle but if you invest 50 to $100,000 and these asymmetric bets pay off you're talking about five six seven eight ten twelve million dollars in returns on what is a relatively tiny investment relative to your net worth and that is the beauty of this approach.
Buck: Yeah and and I'm glad you said that because that's exactly kind of where I'm at sort of lingering between five and ten percent you know and for me you know I I kind of put this in there about you know I kind of put this in that area with startups right I'm not gonna I'm not gonna have a separate category just for digital currencies but anything that is super high risk and high reward and I'm sitting about five or ten percent.
Teeka: That all goes into the same bucket so that's right that for everybody it's not just oh this is crypto currencies five to ten percent and startups is five to ten percent. No all go into the same bucket is asymmetric risk.
Buck: Yeah now okay so we kind of got ahead of ourselves and you know you haven't been on the show talking about crypto currency in a fair amount of time we have a lot more new listeners now so for those who know very little about cryptocurrency but they're smart they're sophisticated say they're a group of you know I know worth investors you're talking to you they've not heard about this how do you explain this in the most efficient way possible and what the significance of it is?
Teeka: Okay so that's a really big question.
Buck: Yeah no I don't but I bet you've answered it a few times.
Teeka: I'm gonna take a shot at it. So listen as a wealthy investor myself why would I want to bother with cryptocurrency? I'm already rich why do I want to mess around with this? So I'm gonna answer it from that perspective. One it's always nice to make more money. But two the bigger reason is, is what I want people to understand especially wealthy investors is that it's very rare to invest at the beginning of a brand-new asset class very very rare right it's brand-new asset classes though just don't come about. Digital currency is a brand-new asset class that has legs. So why does it have legs? It has legs because we have never had an asset class that is completely non correlated with the business cycle. It's never existed before. Every asset class in the world is somehow tied to the business cycle gold, industrial, metals, currencies, stocks, bonds, they're all tied to the business cycle in one way shape or form things like Bitcoin are not so why why does that make it valuable it makes it valuable because if you are pension fund you're allocating capital across traditional and non-traditional assets you still have this problem of deep correlation right the business cycle falls apart and you're taking hits across the board. So there have been studies that have shown just with a small allocation of Bitcoin anywhere from one to five percent across the portfolio even though Bitcoin is wildly volatile because it is not correlated and not tied to the business cycle it actually reduces your overall volatility and your overall risk in your portfolio and that is incredibly valuable. So just from a high level portfolio construction standpoint you will see the world's hedge funds, pension funds, massive allocators of capital start to move tiny slivers of their money into things like Bitcoin and we're talking tiny slivers of an 80 trillion dollar pie right it's in real terms its enormous money in relative terms relative to what they have under management it's a small amount but when you're coming off a base where the whole markets only worth 300 billion it doesn't take much to move the market. So that's from the high level that's why you must have some cryptocurrency. And then the next level beyond that is that mankind has never had an asset there's never been an asset we're a stronger man couldn't take it from a weaker man. So whether it was the caveman knocking one guy over the head for his shells or the government coming in in Venezuela and confiscating money or the Argentinian government saying oh we're having a holiday and taking all your assets from the bank something Brazil has done on multiple occasions. You know the everyday person has not had this ability to hold an asset that has been beyond the confiscationability of a government so something like Bitcoin and digital currency if you are smart and how you buy it if you don't talk about it you buy quietly and you store it appropriately it is absolutely impossible short of somebody putting a literally putting a gun next to your head for them to take that asset from you and that is remarkable because even if you've got a million dollars in gold and you somehow manage to hide it how are you gonna travel the world with a million dollars in gold how are you gonna spend a million dollars in gold you just gonna go to the store and break a piece off with a piece of pliers you just can't do that the beauty of digital currency is you can walk around with a thumb drive that big with a billion dollars in it and nobody knows and let's say hey oh I don't want to keep a billion in Bitcoin I want to do it in a stable coin fine put it in a stable coin. But this idea this portability of money and this complete ownership of an asset that nobody else has any ability to take from you that is valuable that is incredibly valuable.
Buck: So let me ask you a what may seem like a very basic simple question but I think it's worth asking. So why is it so volatile why is Bitcoin Ethereum for example why these are the major the two biggest by market cap why are they so volatile and you know to the extent that they are uncorrelated do you see that as a function of the size of the market cap or is it something else inherent about digital currencies that makes it this volatile?
Teeka: I think it's both. One they're relatively small so if for instance if you look at Microsoft in its early days it was a crazy volatile stock up 40% down 40% down 30% going through bear markets that lasted two years wrecking billions of dollars in value you look at the early days of Microsoft from the 80s into the mid 90s the stock was all over the place and then as the stock got bigger and more mature of course volatility tamp down so you will see that. So what I say with volatility is that welcomed that volatility without it the opportunity to make enormous amounts of money off a small amount of money won't exist. At some point Bitcoin and the theorem will move to this more blue chip status where maybe you make eight percent a year or six percent a year or something or something like that thank goodness we're not there yet. The other side of it is is that there you know the markets that are built around trading these are completely unregulated. They're wild. And there's all types of crazy manipulation that goes on in the market you have some Bitcoin whale let's sell a thousand coins and scare the market down and then let's go buy back 2000 coins it's the Wild West and somebody a skeptic might say well why do I want to buy now why don't I buy when the market calms down because when you buy when the market calms down and it's moved to this very highly regulated very low volatility asset it could have ten x between now and then. So yes there is volatility but I believe if you position size rationally you will be well rewarded for that moment for that volatility and that uncertainty.
Buck: So admittedly I was skeptical of cryptocurrency early on and you know I finally did get in and my timing was actually really good it was a fall early fall 2017 right before a massive bull run. And that of course was followed by what has been called crypto winter. So the question is, is winter over because it sure seems like it's an awful long thawing period I mean no we seem like to have gotten there but there's a stall is it over or do you still see some you know rocky shores ahead before there's a you know big move potentially to all-time highs?
Teeka: Well no crypto winter was over in April. I put out a report talking about that and I pinpointed when that happened it happened when Bitcoin broke its downtrend line. So if you go back and if you look at each of the so-called crypto winters or horrible bear markets that have been in the space Bitcoin will always lead the market first always and then the altcoins play catch up right so it feels worse than it is right now because the alt coins got crushed and many of them have stayed crushed they haven't come back that’s probably the most popular question I get take okay bitcoins up and it's you know been up as much as 400 percent this year but why aren't the old coins moving and my answer is because it's not yet time. If you look back at the data generally there is at least a six-month time lag between the time Bitcoin breaks its downtrend line and the time that the alt coins move higher. So that that next stage we'll be entering to in about October and you'll see a percolation in the alt coins and they'll start playing catch-up.
Buck: Does that also correlate Teeka with Bitcoin like an all-time high for Bitcoin though? I mean I mean obviously Bitcoin has recovered substantially we're like you know three four hundred percent up from you know where we were when Bitcoin was at you know three thousand. The question I have is and I have not looked at this history closely even though there's this recovery, do you have to start approaching all-time highs for those alts to really make their move is that what you've seen historically?
Teeka: No you look back when they all started playing catch up in 2016 Bitcoin was starting to move higher and then going into 2017 and then the alts really didn't start kicking in until around May and that's when they started moving and eventually the alts outpaced the type of action that was going on with bitcoins. So if we look back at how the altcoins move generally what happens is you have a new series of buyers that come into the market and they're all centered around Bitcoin. And that's happening right now. Kelly Lafleur just announced from backed that they're gonna have physically backed futures have been approved September 23rd I believe is the date that they're actually gonna start trading. So this brings in a whole new group of traders a whole new group of investors and then so they start getting their feet with Bitcoin and all of a sudden they're there they might not even know anything about alt coins Buck that that's the thing right for a lot of people out there to them when they think digital currency the only thing they really think of is Bitcoin.
Buck: So as the alt coins are just anything that's not Bitcoin for anybody what we keep talking about so anything Ethereum, any other and any other token that's not Bitcoin generally it's called an altcoin.
Teeka: Right so as they come in they start getting exposed to these other coins and then they start playing with them and they start investing and then they start trading with them and all of a sudden people look at look at Bitcoin and they look at something else it's a little bit smaller and they say okay let's let's play around here and then you start seeing this broadening of the rally.
Buck: So you think that this time around though specifically I know you you you're part of your thesis is that this time around may be different because you know bigger money institutional money, but one of the things that we've really looked at or you've looked at and talked about is you know one of the limitations to big money coming into this stuff is custodianship but the altcoins a lot of the old coins most of them are not gonna have that kind of infrastructure so does that I mean just playing devil's advocate does that then say well they may just stick to whatever they can buy on Coinbase and Bakkt.
Teeka: Well they have well these coins most of the all coins are ERC 20 coins so in terms of having the infrastructure as long as you can support ERC 20 you can support hundreds of coins that currently trade and so if you look at what Bakkt is doing they're gonna be supporting Bitcoin first and then they're going to be supporting Ethereum. So if they support a theory they will naturally support every other ERC20 that's out there and remember companies like Bakkt they're in the business of incentivizing trading because they get paid for everything that that goes through their network. So it would be odd to imagine that they're only going to limit their entire business models with just the trading of Bitcoin it doesn't make any sense. If you look at what they've done in the securities market they haven't just limited themselves to the trading of the S&P 500 they trade everything so I do think that liquidity will trickle down into the whole market and of course the ERC 20 coins I think will be the first to get the most amount of liquidity because it will be the easiest to support from from a back end technology standpoint. The other thing I want to mention is that another driver of the alt coins would be what I believe will be a proliferation of securitization products. So ETF's different types of futures I see a world I've gotta believe within the next 12 months we will see an ETF that will give us the ability to own 20 30 40 maybe 50 coins in one ETF that trades or one type of security that trades maybe it's a coin put out by back and says okay you buy this coin and you've got the top hundred altcoins exposure to the top hundred alt coins.
Buck: Right and then you know I know a lot of people bring do you talk about the ETF for Bitcoin and this has been sort of bounce back but yeah you know we're delayed with the SEC several times do you really think of that as a big deal compared to some of the other movements that you you mentioned Bakkt and I think there's LedgerX things like that where that are allowing for institutional buyers to dissipate is an etf really make much of a difference in your view?
Teeka: I think an ETF is important but I think the SEC is becoming less important in that process and I'll tell you why. Several very large brokerage firms from the Fidelity to eTrade to TD Ameritrade have announced that they want to offer Bitcoin trading to their users. So I'm talking about a system where you can log in click on a button on your Fidelity account and you can start trading Bitcoin the way you with the sp500. Once that comes out let's assume it comes out this year which they've talked about but they want to do it this year but we'll see everything seems to run a little slower than people think. But if that that comes out this year and something like 15 to 20 million people can now trade Bitcoin directly from their brokerage accounts to me it makes an ETF a foregone conclusion because the SEC has no reason now to stand in the way of it. And that's what I'm think that they're waiting for Buck the SEC is not known for blazing a trail the SEC is not known for moving ahead of the market. So if they can look and say well Fidelity is offering it TD Ameritrade is offering it Schwab is offering it we are asses covered if we approve an ETF I think it's really a CYA problem with the SEC they don't want to be the first to make this move and let's say there's a problem with it and everybody blames the SEC.
Buck: You know there is this product data that I know of maybe you could talk about this because then you know in the context of an ETF and being able to buy Bitcoin easily you know.
Teeka: I look at the there's a grayscale Bitcoin trust gbtc which is publicly traded I mean what's the difference what am I missing there I mean that's a closed-end fund that has limited liquidity and sometimes trade at a hundred percent premium.
Buck: Yeah okay so lots of things happening in the spaces you mentioned and one of the things that I think that that you said that is very seems very clearly true whether or not what you know whether or not you believe there's gonna be another bull market is there's a ton of of Technology improvements and infrastructure and all these things that are going on and price mean a lot more by the way then back in 2017 when prices were off the charts so within that context what are you know say they the one or two things that are you most excited about in the space that gives you the greatest confidence that this is you know this is the the new you know the new dot-com era I guess after the rebels fell as you mentioned before offline and you know the rise of the Amazons and the apples in the crypto world.
Teeka: I'll tell you why it's because I'm finally seeing major corporations real corporations doing partnerships with crypto companies not memorandums of understanding MOU’s are meaningless but real partnerships where they're actually using the technology this is stuff i talked about a year ago. Eighteen and a half months ago I said like real companies are going to start coming into this space they're gonna start partnering with some of these companies and start using the technology and it's happening. I'm seeing real businesses like Barclays put up their own money to back certain platforms I was like for instance with trade finance. BMW putting up their own money for back in logistics. So this is a huge shift in in in the type of person that is getting involved in the marketplace. I'm seeing massive credit card processors get involved with tiny startups because they want to piggy back what's going on and the markets that they're opening up with with their with their applications. So this to me Buck is is such a difference maker right like if we came into 2019 and none of these deals were happening I would say I would be on here and I would say buck you know what the cake just isn't baked yet man we just probably gotta wait another year. But when I start seeing very large very smart corporate players making strategic moves to align themselves to certain projects, you can't ignore that. This is something you can't ignore. And so this is what has me incredibly excited for this next phase that I see taking place in crypto.
Buck: You know one of the one things that you mentioned earlier and you've mentioned in the past which I agree with generally speaking is that you know some level of regulation is a good thing so that it becomes less of a manipulated market. So it becomes something that you know larger big money investors and institutional investors take an interest in because they don't want to be in something that's you know that's that's not legit. There is a negative a little bit to that and that some opportunities out there are you know start or you're starting to get restricted in terms of American investors. You know one of the examples I can think of to me is one of what I'm probably one of the biggest things is Binance which is you know the number one trading platform in the world is now effectively you know saying US investors we'll see you later we're gonna build something you know sometime and we're gonna call it you know Binance US and we're gonna have a lot fewer tokens there what concerns me is an investor in some of the various digital currencies at that point is well how does that affect my liquidity as a US investor and I'm wondering how it is affecting your your portfolio?
Teeka: Okay so there's a couple of things around that and I can't advise people to do this I can only report on what some people are doing to get around this geofencing. They're using Virtual Private Networks. With the use of a virtual private network can get access to any exchange in the world so long as they're using a VPN that mimics a country that this exchange is allowed to operate in. So as far as I know Binance is not doing anything to prevent anybody from using a VPN so just want to get that out there.
Buck: Jut to interrupt there I mean that that in itself is a little tricky though right I mean isn't it because then you've got to deal with you know US taxes and all that if you're dealing…
Teeka: Well you always have to deal with US taxes no matter what whether you're using a VPN or not.
Buck: So it wouldn't be illegal technically to use Virtual Private Network to use Binance?
Teeka: For me as an individual would I be breaking any laws, I don't think so but I'm not an attorney. Binance might be breaking some laws or but I don't think that I would be but again this is something everybody has to make their own decision with. But the other side of this is that by Nance is putting together their own decks which is a decentralized exchange which will allow for peer-to-peer trading and I think you'll see more of these types of decentralized exchanges which I'm a big fan of I hate the idea of centralized exchanges anyway. So there are some speed problems with decentralized exchanges but they're getting ironed out and I think within in the future a lot of trading is going to move to peer-to-peer but you're right it's certainly a concern for now I would say the biggest solution that I have read about and again I can't formally tell people to do this is to use a virtual private network.
Buck: The other question though I think as just as a follow-up on that Teeka is that okay so say you use a VPN but not everybody's gonna do that you know probably most people aren't gonna do that didn't then there's an issues just in terms of liquidity right or don't you think that's a problem anymore?
Teeka: I do think it's a problem but I also rely on the greed factor of the participants in this market that they will figure out a solution because there's too much money to be made for liquidity that wants to come into the market somebody will find a way to bring that liquidity into that okay so anyway so like you you know I believe that Bitcoin bull run is inevitable what do you think of anything what are you looking for that might trigger and I know you you're saying already that we're kind of in a bull market already but what triggers that sort of next level all-time high thing is there anything or do you think this is something that's gonna be more of a gradual rise or organic than it was in 2017?
Teeka: Well there are several things which I'm gonna be talking about specifically I don't really want to spill the beans on that here but I have an event coming up which I talk in more detail about a very specific event that I think will act as a massive catalyst. Outside of that I think this whole idea of I call it this kind of new narrative right among institutions where before two years ago three years ago they looked at Bitcoin and they said oh my gosh Bitcoin that's for Gun Runners and pornographers where we we have no interest in Bitcoin. And now they're starting to see Bitcoin as a way to eliminate this correlation risk in their portfolio. So I think that narrative will gain more ground in fact I've been invited to a conference in San Moritz with 500 top-tier investors and I will be putting forward that research that I've drawn together to that audience and really helping propagate that narrative because it is transformational if you manage a large pool of capital what you can do with your overall volatility and how you can adjust it lower through just a tiny amount of Bitcoin is absolutely remarkable. So I think that's more of a slow burn Buck, but as that gains speed I mean can you just imagine just the amount of buying if pension funds say okay going forward half of 1% of all our assets are going to be in digital currency.
Buck: I mean in part of part of understanding that for people is to understand one of the the great things about Bitcoin in particular is that this is an asset with that is fixed to a certain number of Bitcoin that'll ever be created so you know we've never really had a that kind of monetary thing before I mean to a certain extent gold is that way of course but even you know gold there's always more gold every year a little bit more gold. This is a truly deflationary asset that really where you know you put more money in the pot you know each one of those bitcoins gonna be worth a lot more and that I can't think of anything else that's out there like that.
Teeka: I agree.
Buck: I know you've got you know the the Palm Beach Confidential Newsletter Teeka I just have to compliment you because I you know I have been a reader for a couple years it is one of the most comprehensive and thoughtful investment newsletters I've ever subscribed to. I mean it is totally the real deal and I appreciate that and one of the things that people can't join any time and it opens and closes and I know that it is going to be opening up and you're going to do a webinar coming up on that but can you talk a little bit about the newsletter and the event that's coming up?
Teeka: Yeah sure so in the newsletter what I do is I will typically find one idea each month and give you a complete breakdown on the idea. And what I try to do I understand not everybody is a cryptocurrency enthusiastic of their currency investor and so what I try to do is write in a way that is easy to digest, easy to understand, not simplistic but very easy for the layperson to get their head around and to really understand the concept that we're talking about. And I have not opened up Palm Beach confidential for any new members for this whole year, this is the first time that I've done that and the reason is, is I only open up Palm Beach confidential to new members when there's an event that I think can have a massive impact on the broad market. So on September 18th at 8 p.m. I'm going to talk about one of these events and the last time this event took place you could literally take 500 dollars and turn it into five million dollars. There's only a few times in the history of crypto where you have those types of windows of opportunity and so one of those windows of opportunity is about to open and so at this event I'm gonna explain what it is why it works and why it will absolutely happen this particular event will absolutely happen there's nothing that can stop the event from taking place. And so I'm gonna share my five top coins, one of which I'll give away for free during the webinar that I think have that ability to go from five hundred dollars literally into five million. So it's an exciting time and I'm really kind of chomping at the bit to kind of get in front of everybody and talk about this research that I've discovered.
Buck: One last thing I want to point out is I get you know when we talk like this sometimes people get really skeptical they're like yeah that sounds a little salesy Buck that's not really kind of the usual thing that you're talking about and I get it right. The reality is this is a situation this isn't you know there are real people out there there are kids out there who've become multimillionaires by doing exactly this. And so it's real, that's why I'm interested.
Teeka: In my own investing I've seen a thousand dollar investment go to as much as 1.6 million dollars, ok so it's real. The other thing I want to convey to everybody I don't have to write newsletters anymore I don't have to come on podcast I can sit on a beach all I want ok. So why do I do this I do this because moving the needle on somebody's net worth maybe not this audience maybe my broader audience it's incredibly gratifying right helping people change their lives without putting their current lifestyle at risk that's I mean if that's my one legacy in this life could you ask for anything more Buck? Really it's incredibly gratifying to be able to do that and we have this opportunity now and but this opportunity won't last forever at some point this will be a multi trillion dollar asset class and the ability to make gains like that just won't exist.
Buck: Teeka, as always it's been a pleasure talking to you and thanks again for being on Wealth Formula Podcast.
Teeka: Thank you Buck.
Buck: We'll be right back.
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Wealth Formula Episode 175: Cryptocurrency and Asymmetric Risk with Teeka Tiwari

Wealth Formula Episode 175: Cryptocurrency and Asymmetric Risk with Teeka Tiwari

Catch the full episode: https://www.wealthformula.com/podcast/175-cryptocurrency-and-asymmetric-risk-with-teeka-tiwari/
Buck: Welcome back to the show everyone. Today my guest on Wealth Formula Podcast is no stranger to the show. He’s a guy who grew up in foster care and came over the US at the age of 16 with just 150 bucks in his pocket and the clothes on his back. And then by the age of 18 becomes the youngest employee at Lehman Brothers. By 20 he becomes the youngest vice president in Lehman history. Later in his career he goes on to launch successful hedge fund and lived the Wall Street dream. I mean he’s known on Wall Street as the guy who’s made a fortune on what is known as asymmetric risk which is what we’re going to talk about in quite a bit and for the rest of us, for many of us that is, he is best known for being the editor of the Palm Beach confidential newsletter which focuses on digital currencies and I am a subscriber to this by the way. Teeka, welcome back to Wealth Formula Podcast, Teeka Tiwari.
Teeka: Thanks Buck. It’s a pleasure to be here and thank you for having me.
Buck: Yeah so you know you were on not too long ago and some people are listening to the stuff about cannabis and they’re probably thinking to themselves, why is this guy talking about cannabis and digital currencies like what is his specialty? In fact the way I’m thinking about this there’s one main thing that they have in common, they’re both in this area that you call and we call asymmetric risk which is really your thing. Discuss what that means and if you would how have you applied it to your own growth and ultimately to your own wealth.
Teeka: So before I get into asymmetric risk I want to talk about how I discovered asymmetric risk and how I changed the way that I yeah. So when I was in my 20s I developed a lot of wealth by taking massive risk in the stock options and commodities market. And I would bet huge positions. And then that all came to an end in the late 90s when I was on the wrong side of a series of trades that were triggered by the Asian financial crisis which ultimately compelled me to file for bankruptcy. And so I had lost about ten years of wealth creation which was considerable at the time. And what I learned was that I had to change my approach that I couldn’t get it all every single time otherwise I would never get off this boom-and-bust merry-go-round. So what I realized was is that I would I would build the portfolio of somewhat safer more income oriented investments and then I would focus on these ideas that are called asymmetric risk trade. So what’s an asymmetric risk trade? An asymmetric risk trade is where you can take a relatively trivial sum of money and if the idea doesn’t work out it doesn’t impact your net your net worth or your day-to-day lifestyle in any way shape or form. But the asymmetric part of it is is that if it does work out it can absolutely move the needle on your net worth. So an example of that would be something like neo which I recommended at around 12 cents that ended up going up to about a hundred and sixty one dollars so that’s something that you could have put a thousand dollars in and turn it into over a million dollars. That’s a classic asymmetric trade. So what I what I tell my readers is you can’t build your whole portfolio around high-risk asymmetric trades. But if you take let’s say five to ten percent of your liquid net worth and allocate it to these types of situations in a and one of the things I talk about is using uniform position sizing, what you put yourself in the position to do is absolutely grow your network sometimes three four five six X without putting your current lifestyle at risk and it is a sweet spot of wealth creation that I’ve created and popularized now for several years that has not only transformed my financial life but the financial life of many of my readers.
Buck: So as you know Teeka my group the Wealth Formula Group in general I mean there’s a lot of people who are well-to-do they’re you know accredited investors they have you know typically probably more money to invest than others they’re you know and I say this because there is a little bit of a difference there when it comes to somebody who’s barely getting by living check to check, that there is an opportunity in your portfolio to say okay what percentage of this portfolio could I put in that I mean listen if I lose it no big deal I mean I won’t be happy about it but it won’t hurt me that much on the other hand this could explode. Now when you look at it from the perspective of somebody who’s got a fair amount of money and link who’s investing you know several hundred thousand dollars a year or maybe a million dollars or something like that like what do you think is a reasonable amount of a portfolio? Like I know for example that even universities are getting into this and they’re looking at hey maybe you know 1/2 of 1% or something like that I mean I know you’re not in the business of giving financial advice but I’m just curious kind of what your approach would be in terms of allocation.
Teeka: So again generally speaking I would say 5 to 10% of your liquid net worth. So let’s say you’ve got a business that kicks out a million a year that you have to allocate for your investment 50 to $100,000. Definitely nobody likes to lose 50 or a hundred thousand dollars but it’s not going to have a material impact on your lifestyle but if you invest 50 to $100,000 and these asymmetric bets pay off you’re talking about five six seven eight ten twelve million dollars in returns on what is a relatively tiny investment relative to your net worth and that is the beauty of this approach.
Buck: Yeah and and I’m glad you said that because that’s exactly kind of where I’m at sort of lingering between five and ten percent you know and for me you know I I kind of put this in there about you know I kind of put this in that area with startups right I’m not gonna I’m not gonna have a separate category just for digital currencies but anything that is super high risk and high reward and I’m sitting about five or ten percent.
Teeka: That all goes into the same bucket so that’s right that for everybody it’s not just oh this is crypto currencies five to ten percent and startups is five to ten percent. No all go into the same bucket is asymmetric risk.
Buck: Yeah now okay so we kind of got ahead of ourselves and you know you haven’t been on the show talking about crypto currency in a fair amount of time we have a lot more new listeners now so for those who know very little about cryptocurrency but they’re smart they’re sophisticated say they’re a group of you know I know worth investors you’re talking to you they’ve not heard about this how do you explain this in the most efficient way possible and what the significance of it is?
Teeka: Okay so that’s a really big question.
Buck: Yeah no I don’t but I bet you’ve answered it a few times.
Teeka: I’m gonna take a shot at it. So listen as a wealthy investor myself why would I want to bother with cryptocurrency? I’m already rich why do I want to mess around with this? So I’m gonna answer it from that perspective. One it’s always nice to make more money. But two the bigger reason is, is what I want people to understand especially wealthy investors is that it’s very rare to invest at the beginning of a brand-new asset class very very rare right it’s brand-new asset classes though just don’t come about. Digital currency is a brand-new asset class that has legs. So why does it have legs? It has legs because we have never had an asset class that is completely non correlated with the business cycle. It’s never existed before. Every asset class in the world is somehow tied to the business cycle gold, industrial, metals, currencies, stocks, bonds, they’re all tied to the business cycle in one way shape or form things like Bitcoin are not so why why does that make it valuable it makes it valuable because if you are pension fund you’re allocating capital across traditional and non-traditional assets you still have this problem of deep correlation right the business cycle falls apart and you’re taking hits across the board. So there have been studies that have shown just with a small allocation of Bitcoin anywhere from one to five percent across the portfolio even though Bitcoin is wildly volatile because it is not correlated and not tied to the business cycle it actually reduces your overall volatility and your overall risk in your portfolio and that is incredibly valuable. So just from a high level portfolio construction standpoint you will see the world’s hedge funds, pension funds, massive allocators of capital start to move tiny slivers of their money into things like Bitcoin and we’re talking tiny slivers of an 80 trillion dollar pie right it’s in real terms its enormous money in relative terms relative to what they have under management it’s a small amount but when you’re coming off a base where the whole markets only worth 300 billion it doesn’t take much to move the market. So that’s from the high level that’s why you must have some cryptocurrency. And then the next level beyond that is that mankind has never had an asset there’s never been an asset we’re a stronger man couldn’t take it from a weaker man. So whether it was the caveman knocking one guy over the head for his shells or the government coming in in Venezuela and confiscating money or the Argentinian government saying oh we’re having a holiday and taking all your assets from the bank something Brazil has done on multiple occasions. You know the everyday person has not had this ability to hold an asset that has been beyond the confiscationability of a government so something like Bitcoin and digital currency if you are smart and how you buy it if you don’t talk about it you buy quietly and you store it appropriately it is absolutely impossible short of somebody putting a literally putting a gun next to your head for them to take that asset from you and that is remarkable because even if you’ve got a million dollars in gold and you somehow manage to hide it how are you gonna travel the world with a million dollars in gold how are you gonna spend a million dollars in gold you just gonna go to the store and break a piece off with a piece of pliers you just can’t do that the beauty of digital currency is you can walk around with a thumb drive that big with a billion dollars in it and nobody knows and let’s say hey oh I don’t want to keep a billion in Bitcoin I want to do it in a stable coin fine put it in a stable coin. But this idea this portability of money and this complete ownership of an asset that nobody else has any ability to take from you that is valuable that is incredibly valuable.
Buck: So let me ask you a what may seem like a very basic simple question but I think it’s worth asking. So why is it so volatile why is Bitcoin Ethereum for example why these are the major the two biggest by market cap why are they so volatile and you know to the extent that they are uncorrelated do you see that as a function of the size of the market cap or is it something else inherent about digital currencies that makes it this volatile?
Teeka: I think it’s both. One they’re relatively small so if for instance if you look at Microsoft in its early days it was a crazy volatile stock up 40% down 40% down 30% going through bear markets that lasted two years wrecking billions of dollars in value you look at the early days of Microsoft from the 80s into the mid 90s the stock was all over the place and then as the stock got bigger and more mature of course volatility tamp down so you will see that. So what I say with volatility is that welcomed that volatility without it the opportunity to make enormous amounts of money off a small amount of money won’t exist. At some point Bitcoin and the theorem will move to this more blue chip status where maybe you make eight percent a year or six percent a year or something or something like that thank goodness we’re not there yet. The other side of it is is that there you know the markets that are built around trading these are completely unregulated. They’re wild. And there’s all types of crazy manipulation that goes on in the market you have some Bitcoin whale let’s sell a thousand coins and scare the market down and then let’s go buy back 2000 coins it’s the Wild West and somebody a skeptic might say well why do I want to buy now why don’t I buy when the market calms down because when you buy when the market calms down and it’s moved to this very highly regulated very low volatility asset it could have ten x between now and then. So yes there is volatility but I believe if you position size rationally you will be well rewarded for that moment for that volatility and that uncertainty.
Buck: So admittedly I was skeptical of cryptocurrency early on and you know I finally did get in and my timing was actually really good it was a fall early fall 2017 right before a massive bull run. And that of course was followed by what has been called crypto winter. So the question is, is winter over because it sure seems like it’s an awful long thawing period I mean no we seem like to have gotten there but there’s a stall is it over or do you still see some you know rocky shores ahead before there’s a you know big move potentially to all-time highs?
Teeka: Well no crypto winter was over in April. I put out a report talking about that and I pinpointed when that happened it happened when Bitcoin broke its downtrend line. So if you go back and if you look at each of the so-called crypto winters or horrible bear markets that have been in the space Bitcoin will always lead the market first always and then the altcoins play catch up right so it feels worse than it is right now because the alt coins got crushed and many of them have stayed crushed they haven’t come back that’s probably the most popular question I get take okay bitcoins up and it’s you know been up as much as 400 percent this year but why aren’t the old coins moving and my answer is because it’s not yet time. If you look back at the data generally there is at least a six-month time lag between the time Bitcoin breaks its downtrend line and the time that the alt coins move higher. So that that next stage we’ll be entering to in about October and you’ll see a percolation in the alt coins and they’ll start playing catch-up.
Buck: Does that also correlate Teeka with Bitcoin like an all-time high for Bitcoin though? I mean I mean obviously Bitcoin has recovered substantially we’re like you know three four hundred percent up from you know where we were when Bitcoin was at you know three thousand. The question I have is and I have not looked at this history closely even though there’s this recovery, do you have to start approaching all-time highs for those alts to really make their move is that what you’ve seen historically?
Teeka: No you look back when they all started playing catch up in 2016 Bitcoin was starting to move higher and then going into 2017 and then the alts really didn’t start kicking in until around May and that’s when they started moving and eventually the alts outpaced the type of action that was going on with bitcoins. So if we look back at how the altcoins move generally what happens is you have a new series of buyers that come into the market and they’re all centered around Bitcoin. And that’s happening right now. Kelly Lafleur just announced from backed that they’re gonna have physically backed futures have been approved September 23rd I believe is the date that they’re actually gonna start trading. So this brings in a whole new group of traders a whole new group of investors and then so they start getting their feet with Bitcoin and all of a sudden they’re there they might not even know anything about alt coins Buck that that’s the thing right for a lot of people out there to them when they think digital currency the only thing they really think of is Bitcoin.
Buck: So as the alt coins are just anything that’s not Bitcoin for anybody what we keep talking about so anything Ethereum, any other and any other token that’s not Bitcoin generally it’s called an altcoin.
Teeka: Right so as they come in they start getting exposed to these other coins and then they start playing with them and they start investing and then they start trading with them and all of a sudden people look at look at Bitcoin and they look at something else it’s a little bit smaller and they say okay let’s let’s play around here and then you start seeing this broadening of the rally.
Buck: So you think that this time around though specifically I know you you you’re part of your thesis is that this time around may be different because you know bigger money institutional money, but one of the things that we’ve really looked at or you’ve looked at and talked about is you know one of the limitations to big money coming into this stuff is custodianship but the altcoins a lot of the old coins most of them are not gonna have that kind of infrastructure so does that I mean just playing devil’s advocate does that then say well they may just stick to whatever they can buy on Coinbase and Bakkt.
Teeka: Well they have well these coins most of the all coins are ERC 20 coins so in terms of having the infrastructure as long as you can support ERC 20 you can support hundreds of coins that currently trade and so if you look at what Bakkt is doing they’re gonna be supporting Bitcoin first and then they’re going to be supporting Ethereum. So if they support a theory they will naturally support every other ERC20 that’s out there and remember companies like Bakkt they’re in the business of incentivizing trading because they get paid for everything that that goes through their network. So it would be odd to imagine that they’re only going to limit their entire business models with just the trading of Bitcoin it doesn’t make any sense. If you look at what they’ve done in the securities market they haven’t just limited themselves to the trading of the S&P 500 they trade everything so I do think that liquidity will trickle down into the whole market and of course the ERC 20 coins I think will be the first to get the most amount of liquidity because it will be the easiest to support from from a back end technology standpoint. The other thing I want to mention is that another driver of the alt coins would be what I believe will be a proliferation of securitization products. So ETF’s different types of futures I see a world I’ve gotta believe within the next 12 months we will see an ETF that will give us the ability to own 20 30 40 maybe 50 coins in one ETF that trades or one type of security that trades maybe it’s a coin put out by back and says okay you buy this coin and you’ve got the top hundred altcoins exposure to the top hundred alt coins.
Buck: Right and then you know I know a lot of people bring do you talk about the ETF for Bitcoin and this has been sort of bounce back but yeah you know we’re delayed with the SEC several times do you really think of that as a big deal compared to some of the other movements that you you mentioned Bakkt and I think there’s LedgerX things like that where that are allowing for institutional buyers to dissipate is an etf really make much of a difference in your view?
Teeka: I think an ETF is important but I think the SEC is becoming less important in that process and I’ll tell you why. Several very large brokerage firms from the Fidelity to eTrade to TD Ameritrade have announced that they want to offer Bitcoin trading to their users. So I’m talking about a system where you can log in click on a button on your Fidelity account and you can start trading Bitcoin the way you with the sp500. Once that comes out let’s assume it comes out this year which they’ve talked about but they want to do it this year but we’ll see everything seems to run a little slower than people think. But if that that comes out this year and something like 15 to 20 million people can now trade Bitcoin directly from their brokerage accounts to me it makes an ETF a foregone conclusion because the SEC has no reason now to stand in the way of it. And that’s what I’m think that they’re waiting for Buck the SEC is not known for blazing a trail the SEC is not known for moving ahead of the market. So if they can look and say well Fidelity is offering it TD Ameritrade is offering it Schwab is offering it we are asses covered if we approve an ETF I think it’s really a CYA problem with the SEC they don’t want to be the first to make this move and let’s say there’s a problem with it and everybody blames the SEC.
Buck: You know there is this product data that I know of maybe you could talk about this because then you know in the context of an ETF and being able to buy Bitcoin easily you know.
Teeka: I look at the there’s a grayscale Bitcoin trust gbtc which is publicly traded I mean what’s the difference what am I missing there I mean that’s a closed-end fund that has limited liquidity and sometimes trade at a hundred percent premium.
Buck: Yeah okay so lots of things happening in the spaces you mentioned and one of the things that I think that that you said that is very seems very clearly true whether or not what you know whether or not you believe there’s gonna be another bull market is there’s a ton of of Technology improvements and infrastructure and all these things that are going on and price mean a lot more by the way then back in 2017 when prices were off the charts so within that context what are you know say they the one or two things that are you most excited about in the space that gives you the greatest confidence that this is you know this is the the new you know the new dot-com era I guess after the rebels fell as you mentioned before offline and you know the rise of the Amazons and the apples in the crypto world.
Teeka: I’ll tell you why it’s because I’m finally seeing major corporations real corporations doing partnerships with crypto companies not memorandums of understanding MOU’s are meaningless but real partnerships where they’re actually using the technology this is stuff i talked about a year ago. Eighteen and a half months ago I said like real companies are going to start coming into this space they’re gonna start partnering with some of these companies and start using the technology and it’s happening. I’m seeing real businesses like Barclays put up their own money to back certain platforms I was like for instance with trade finance. BMW putting up their own money for back in logistics. So this is a huge shift in in in the type of person that is getting involved in the marketplace. I’m seeing massive credit card processors get involved with tiny startups because they want to piggy back what’s going on and the markets that they’re opening up with with their with their applications. So this to me Buck is is such a difference maker right like if we came into 2019 and none of these deals were happening I would say I would be on here and I would say buck you know what the cake just isn’t baked yet man we just probably gotta wait another year. But when I start seeing very large very smart corporate players making strategic moves to align themselves to certain projects, you can’t ignore that. This is something you can’t ignore. And so this is what has me incredibly excited for this next phase that I see taking place in crypto.
Buck: You know one of the one things that you mentioned earlier and you’ve mentioned in the past which I agree with generally speaking is that you know some level of regulation is a good thing so that it becomes less of a manipulated market. So it becomes something that you know larger big money investors and institutional investors take an interest in because they don’t want to be in something that’s you know that’s that’s not legit. There is a negative a little bit to that and that some opportunities out there are you know start or you’re starting to get restricted in terms of American investors. You know one of the examples I can think of to me is one of what I’m probably one of the biggest things is Binance which is you know the number one trading platform in the world is now effectively you know saying US investors we’ll see you later we’re gonna build something you know sometime and we’re gonna call it you know Binance US and we’re gonna have a lot fewer tokens there what concerns me is an investor in some of the various digital currencies at that point is well how does that affect my liquidity as a US investor and I’m wondering how it is affecting your your portfolio?
Teeka: Okay so there’s a couple of things around that and I can’t advise people to do this I can only report on what some people are doing to get around this geofencing. They’re using Virtual Private Networks. With the use of a virtual private network can get access to any exchange in the world so long as they’re using a VPN that mimics a country that this exchange is allowed to operate in. So as far as I know Binance is not doing anything to prevent anybody from using a VPN so just want to get that out there.
Buck: Jut to interrupt there I mean that that in itself is a little tricky though right I mean isn’t it because then you’ve got to deal with you know US taxes and all that if you’re dealing…
Teeka: Well you always have to deal with US taxes no matter what whether you’re using a VPN or not.
Buck: So it wouldn’t be illegal technically to use Virtual Private Network to use Binance?
Teeka: For me as an individual would I be breaking any laws, I don’t think so but I’m not an attorney. Binance might be breaking some laws or but I don’t think that I would be but again this is something everybody has to make their own decision with. But the other side of this is that by Nance is putting together their own decks which is a decentralized exchange which will allow for peer-to-peer trading and I think you’ll see more of these types of decentralized exchanges which I’m a big fan of I hate the idea of centralized exchanges anyway. So there are some speed problems with decentralized exchanges but they’re getting ironed out and I think within in the future a lot of trading is going to move to peer-to-peer but you’re right it’s certainly a concern for now I would say the biggest solution that I have read about and again I can’t formally tell people to do this is to use a virtual private network.
Buck: The other question though I think as just as a follow-up on that Teeka is that okay so say you use a VPN but not everybody’s gonna do that you know probably most people aren’t gonna do that didn’t then there’s an issues just in terms of liquidity right or don’t you think that’s a problem anymore?
Teeka: I do think it’s a problem but I also rely on the greed factor of the participants in this market that they will figure out a solution because there’s too much money to be made for liquidity that wants to come into the market somebody will find a way to bring that liquidity into that okay so anyway so like you you know I believe that Bitcoin bull run is inevitable what do you think of anything what are you looking for that might trigger and I know you you’re saying already that we’re kind of in a bull market already but what triggers that sort of next level all-time high thing is there anything or do you think this is something that’s gonna be more of a gradual rise or organic than it was in 2017?
Teeka: Well there are several things which I’m gonna be talking about specifically I don’t really want to spill the beans on that here but I have an event coming up which I talk in more detail about a very specific event that I think will act as a massive catalyst. Outside of that I think this whole idea of I call it this kind of new narrative right among institutions where before two years ago three years ago they looked at Bitcoin and they said oh my gosh Bitcoin that’s for Gun Runners and pornographers where we we have no interest in Bitcoin. And now they’re starting to see Bitcoin as a way to eliminate this correlation risk in their portfolio. So I think that narrative will gain more ground in fact I’ve been invited to a conference in San Moritz with 500 top-tier investors and I will be putting forward that research that I’ve drawn together to that audience and really helping propagate that narrative because it is transformational if you manage a large pool of capital what you can do with your overall volatility and how you can adjust it lower through just a tiny amount of Bitcoin is absolutely remarkable. So I think that’s more of a slow burn Buck, but as that gains speed I mean can you just imagine just the amount of buying if pension funds say okay going forward half of 1% of all our assets are going to be in digital currency.
Buck: I mean in part of part of understanding that for people is to understand one of the the great things about Bitcoin in particular is that this is an asset with that is fixed to a certain number of Bitcoin that’ll ever be created so you know we’ve never really had a that kind of monetary thing before I mean to a certain extent gold is that way of course but even you know gold there’s always more gold every year a little bit more gold. This is a truly deflationary asset that really where you know you put more money in the pot you know each one of those bitcoins gonna be worth a lot more and that I can’t think of anything else that’s out there like that.
Teeka: I agree.
Buck: I know you’ve got you know the the Palm Beach Confidential Newsletter Teeka I just have to compliment you because I you know I have been a reader for a couple years it is one of the most comprehensive and thoughtful investment newsletters I’ve ever subscribed to. I mean it is totally the real deal and I appreciate that and one of the things that people can’t join any time and it opens and closes and I know that it is going to be opening up and you’re going to do a webinar coming up on that but can you talk a little bit about the newsletter and the event that’s coming up?
Teeka: Yeah sure so in the newsletter what I do is I will typically find one idea each month and give you a complete breakdown on the idea. And what I try to do I understand not everybody is a cryptocurrency enthusiastic of their currency investor and so what I try to do is write in a way that is easy to digest, easy to understand, not simplistic but very easy for the layperson to get their head around and to really understand the concept that we’re talking about. And I have not opened up Palm Beach confidential for any new members for this whole year, this is the first time that I’ve done that and the reason is, is I only open up Palm Beach confidential to new members when there’s an event that I think can have a massive impact on the broad market. So on September 18th at 8 p.m. I’m going to talk about one of these events and the last time this event took place you could literally take 500 dollars and turn it into five million dollars. There’s only a few times in the history of crypto where you have those types of windows of opportunity and so one of those windows of opportunity is about to open and so at this event I’m gonna explain what it is why it works and why it will absolutely happen this particular event will absolutely happen there’s nothing that can stop the event from taking place. And so I’m gonna share my five top coins, one of which I’ll give away for free during the webinar that I think have that ability to go from five hundred dollars literally into five million. So it’s an exciting time and I’m really kind of chomping at the bit to kind of get in front of everybody and talk about this research that I’ve discovered.
Buck: One last thing I want to point out is I get you know when we talk like this sometimes people get really skeptical they’re like yeah that sounds a little salesy Buck that’s not really kind of the usual thing that you’re talking about and I get it right. The reality is this is a situation this isn’t you know there are real people out there there are kids out there who’ve become multimillionaires by doing exactly this. And so it’s real, that’s why I’m interested.
Teeka: In my own investing I’ve seen a thousand dollar investment go to as much as 1.6 million dollars, ok so it’s real. The other thing I want to convey to everybody I don’t have to write newsletters anymore I don’t have to come on podcast I can sit on a beach all I want ok. So why do I do this I do this because moving the needle on somebody’s net worth maybe not this audience maybe maybe my broader audience it’s incredibly gratifying right helping people change their lives without putting their current lifestyle at risk that’s I mean if that’s my one legacy in this life could you ask for anything more Buck? Really it’s incredibly gratifying to be able to do that and we have this opportunity now and but this opportunity won’t last forever at some point this will be a multi trillion dollar asset class and the ability to make gains like that just won’t exist.
Buck: Teeka, as always it’s been a pleasure talking to you and thanks again for being on Wealth Formula Podcast.
Teeka: Thank you Buck.
Buck: We’ll be right back.
submitted by Buck_Joffrey to u/Buck_Joffrey [link] [comments]

Why Bitcoin and Tulip Mania are two vastly different, and entirely unrelated, phenomena: a comprehensive analysis

I keep seeing all these comparisons of Bitcoin to tulip mania, such as in this extremely inaccurate chart Convoy investments recently published. It’s a bunch of bullshit. Bitcoin is about as far from 17th century tulip bulbs as you can get so I’m gonna debunk this claim right now. Here are the facts —
  1. This chart only goes back to 3 years before the “bubble peak.” If they’re talking about now being the peak, it would start at 2014. Bitcoin was founded in 2009 & experienced its first “bubble” if you will, in 2013.
  2. Bubbles do not typically burst and then come back. Tulip bulb prices crashed once and it was over. That’s why this chart conveniently left out the pre-2014 era.
  3. This chart puts the value of bitcoin in 2014, using its Y axis label “multiple of starting price” at next to 0. Bitcoin started at less than a dollar. Its value in 2014 was in the hundreds of dollars.
  4. It is not known exactly how long tulip mania lasted as there is no data available from February of 1637 to the beginning of may. Low estimates for its duration fall around 3 months. At the highest estimate, it may have lasted 6 months (Source) Convoy’s chart incorrectly depicts the tulip boom as almost a full year long.
Bitcoin on the other hand, has been around for 8 years. In Jan 2018 it’ll be 9.
Let’s disregard this for a sec, lets play devils advocate and look only at bitcoin’s latest increase which began around March 2017 (Source) It consistently began hitting ATHs back in March of this year, and gained even more traction later on from June-July. So, disregarding everything else Bitcoin’s current meteoric rise has already lasted approx 9 months, which is longer than the rise, peak and collapse of tulip bulbs altogether.
Let me point out here that Convoy got the dates for tulip mania wrong as well! it lasted from late 1636- early 1637, not 1619-1622.
  1. Tulips are not scarce. People can plant tulips and collect bulbs all they want. Bitcoin is inherently scarce. 21 million bitcoins - and only 21 million - can ever be made. That’s it.
  2. Tulips are irrelevant. Investors invested in them regardless of what they were, to make a quick buck. They could have been daisies or pigeons or lumps of rock. This brings us to:
  3. Tulip prices were doomed to crash from the start because they had no intrinsic value. Investments were made in them ONLY because investors thought the price was going to go up, and that was it. Bitcoin, on the other hand, has intrinsic value as a currency and as a technology. People think the price will go up, yes; this part can be labeled speculative and it does add fuel to the spaceship. However, the difference is that there are real solid reasons for its price increase.
An asset price cannot increase forever based on speculation alone, but if the asset has inherent value, then its price sure can continue to increase.
If we look at the Apple stock chart from 1980 to 2012, we can see a pattern that’s actually quite similar to Bitcoin’s rise. Was Apple a bubble? Did it burst? No and no.
But Michael Dell once made fun of Apple for “trying to be a company”.
And nobody knows who Michael Dell is anymore.
Bitcoin is not Tulip Mania.
That is all.
Edit: thanks joecoin for linking me to a compelling article from Smithsonian Mag. This source makes a very convincing argument that tulip mania never actually happened. I figured I should point this out, because the facts are all important to me. That being said, the concept of tulip mania remains, and there are people who try likening it to bitcoin as if the two are any more similar than apples and oranges. Those people are wrong. :)
submitted by On_Too_Much_Adderall to Bitcoin [link] [comments]

Decred Journal — May 2018

Note: New Reddit look may not highlight links. See old look here. A copy is hosted on GitHub for better reading experience. Check it out, contains photo of the month! Also on Medium

Development

dcrd: Significant optimization in signature hash calculation, bloom filters support was removed, 2x faster startup thanks to in-memory full block index, multipeer work advancing, stronger protection against majority hashpower attacks. Additionally, code refactoring and cleanup, code and test infrastructure improvements.
In dcrd and dcrwallet developers have been experimenting with new modular dependency and versioning schemes using vgo. @orthomind is seeking feedback for his work on reproducible builds.
Decrediton: 1.2.1 bugfix release, work on SPV has started, chart additions are in progress. Further simplification of the staking process is in the pipeline (slack).
Politeia: new command line tool to interact with Politeia API, general development is ongoing. Help with testing will soon be welcome: this issue sets out a test plan, join #politeia to follow progress and participate in testing.
dcrdata: work ongoing on improved design, adding more charts and improving Insight API support.
Android: design work advancing.
Decred's own DNS seeder (dcrseeder) was released. It is written in Go and it properly supports service bit filtering, which will allow SPV nodes to find full nodes that support compact filters.
Ticket splitting service by @matheusd entered beta and demonstrated an 11-way split on mainnet. Help with testing is much appreciated, please join #ticket_splitting to participate in splits, but check this doc to learn about the risks. Reddit discussion here.
Trezor support is expected to land in their next firmware update.
Decred is now supported by Riemann, a toolbox from James Prestwich to construct transactions for many UTXO-based chains from human-readable strings.
Atomic swap with Ethereum on testnet was demonstrated at Blockspot Conference LATAM.
Two new faces were added to contributors page.
Dev activity stats for May: 238 active PRs, 195 master commits, 32,831 added and 22,280 deleted lines spread across 8 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: rapid growth from ~4,000 TH/s at the beginning of the month to ~15,000 at the end with new all time high of 17,949. Interesting dynamic in hashrate distribution across mining pools: coinmine.pl share went down from 55% to 25% while F2Pool up from 2% to 44%. [Note: as of June 6, the hashrate continues to rise and has already passed 22,000 TH/s]
Staking: 30-day average ticket price is 91.3 DCR (+0.8), stake participation is 46.9% (+0.8%) with 3.68 million DCR locked (+0.15). Min price was 85.56. On May 11 ticket price surged to 96.99, staying elevated for longer than usual after such a pump. Locked DCR peaked at 47.17%. jet_user on reddit suggested that the DCR for these tickets likely came from a miner with significant hashrate.
Nodes: there are 226 public listening and 405 normal nodes per dcred.eu. Version distribution: 45% on v1.2.0 (up from 24% last month), 39% on v1.1.2, 15% on v1.1.0 and 1% running outdaded versions.

ASICs

Obelisk team posted an update. Current hashrate estimate of DCR1 is 1200 GH/s at 500 W and may still change. The chips came back at 40% the speed of the simulated results, it is still unknown why. Batch 1 units may get delayed 1-2 weeks past June 30. See discussions on decred and on siacoin.
@SiaBillionaire estimated that 7940 DCR1 units were sold in Batches 1-5, while Lynmar13 shared his projections of DCR1 profitability (reddit).
A new Chinese miner for pre-order was noticed by our Telegram group. Woodpecker WB2 specs 1.5 TH/s at 1200 W, costs 15,000 CNY (~2,340 USD) and the initial 150 units are expected to ship on Aug 15. (pow8.comtranslated)
Another new miner is iBelink DSM6T: 6 TH/s at 2100 W costing $6,300 (ibelink.co). Shipping starts from June 5. Some concerns and links were posted in these two threads.

Integrations

A new mining pool is available now: altpool.net. It uses PPLNS model and takes 1% fee.
Another infrastructure addition is tokensmart.io, a newly audited stake pool with 0.8% fee. There are a total of 14 stake pools now.
Exchange integrations:
OpenBazaar released an update that allows one to trade cryptocurrencies, including DCR.
@i2Rav from i2trading is now offering two sided OTC market liquidity on DCUSD in #trading channel.
Paytomat, payments solution for point of sale and e-commerce, integrated Decred. (missed in April issue)
CoinPayments, a payment processor supporting Decred, developed an integration with @Shopify that allows connected merchants to accept cryptocurrencies in exchange for goods.

Adoption

New merchants:
An update from VotoLegal:
michae2xl: Voto Legal: CEO Thiago Rondon of Appcívico, has already been contacted by 800 politicians and negotiations have started with four pre-candidates for the presidency (slack, source tweet)
Blockfolio rolled out Signal Beta with Decred in the list. Users who own or watch a coin will automatically receive updates pushed by project teams. Nice to see this Journal made it to the screenshot!
Placeholder Ventures announced that Decred is their first public investment. Their Investment Thesis is a clear and well researched overview of Decred. Among other great points it noted the less obvious benefit of not doing an ICO:
By choosing not to pre-sell coins to speculators, the financial rewards from Decred’s growth most favor those who work for the network.
Alex Evans, a cryptoeconomics researcher who recently joined Placeholder, posted his 13-page Decred Network Analysis.

Marketing

@Dustorf published March–April survey results (pdf). It analyzes 166 responses and has lots of interesting data. Just an example:
"I own DECRED because I saw a YouTube video with DECRED Jesus and after seeing it I was sold."
May targeted advertising report released. Reach @timhebel for full version.
PiedPiperCoin hired our advisors.
More creative promos by @jackliv3r: Contributing, Stake Now, The Splitting, Forbidden Exchange, Atomic Swaps.
Reminder: Stakey has his own Twitter account where he tweets about his antics and pours scorn on the holders of expired tickets.
"Autonomy" coin sculpture is available at sigmasixdesign.com.

Events

BitConf in Sao Paulo, Brazil. Jake Yocom-Piatt presented "Decentralized Central Banking". Note the mini stakey on one of the photos. (articletranslated, photos: 1 2 album)
Wicked Crypto Meetup in Warsaw, Poland. (video, photos: 1 2)
Decred Polska Meetup in Katowice, Poland. First known Decred Cake. (photos: 1 2)
Austin Hispanic Hackers Meetup in Austin, USA.
Consensus 2018 in New York, USA. See videos in the Media section. Select photos: booth, escort, crew, moon boots, giant stakey. Many other photos and mentions were posted on Twitter. One tweet summarized Decred pretty well:
One project that stands out at #Consensus2018 is @decredproject. Not annoying. Real tech. Humble team. #BUIDL is strong with them. (@PallerJohn)
Token Summit in New York, USA. @cburniske and @jmonegro from Placeholder talked "Governance and Cryptoeconomics" and spoke highly of Decred. (twitter coverage: 1 2, video, video (from 32 min))
Campus Party in Bahia, Brazil. João Ferreira aka @girino and Gabriel @Rhama were introducing Decred, talking about governance and teaching to perform atomic swaps. (photos)
Decred was introduced to the delegates from Shanghai's Caohejing Hi-Tech Park, organized by @ybfventures.
Second Decred meetup in Hangzhou, China. (photos)
Madison Blockchain in Madison, USA. "Lots of in-depth questions. The Q&A lasted longer than the presentation!". (photo)
Blockspot Conference Latam in Sao Paulo, Brazil. (photos: 1, 2)
Upcoming events:
There is a community initiative by @vj to organize information related to events in a repository. Jump in #event_planning channel to contribute.

Media

Decred scored B (top 3) in Weiss Ratings and A- (top 8) in Darpal Rating.
Chinese institute is developing another rating system for blockchains. First round included Decred (translated). Upon release Decred ranked 26. For context, Bitcoin ranked 13.
Articles:
Audios:
Videos:

Community Discussions

Community stats: Twitter 39,118 (+742), Reddit 8,167 (+277), Slack 5,658 (+160). Difference is between May 5 and May 31.
Reddit highlights: transparent up/down voting on Politeia, combining LN and atomic swaps, minimum viable superorganism, the controversial debate on Decred contractor model (people wondered about true motives behind the thread), tx size and fees discussion, hard moderation case, impact of ASICs on price, another "Why Decred?" thread with another excellent pitch by solar, fee analysis showing how ticket price algorithm change was controversial with ~100x cut in miner profits, impact of ticket splitting on ticket price, recommendations on promoting Decred, security against double spends and custom voting policies.
@R3VoLuT1OneR posted a preview of a proposal from his company for Decred to offer scholarships for students.
dcrtrader gained a couple of new moderators, weekly automatic threads were reconfigured to monthly and empty threads were removed. Currently most trading talk happens on #trading and some leaks to decred. A separate trading sub offers some advantages: unlimited trading talk, broad range of allowed topics, free speech and transparent moderation, in addition to standard reddit threaded discussion, permanent history and search.
Forum: potential social attacks on Decred.
Slack: the #governance channel created last month has seen many intelligent conversations on topics including: finite attention of decision makers, why stakeholders can make good decisions (opposed to a common narrative than only developers are capable of making good decisions), proposal funding and contractor pre-qualification, Cardano and Dash treasuries, quadratic voting, equality of outcome vs equality of opportunity, and much more.
One particularly important issue being discussed is the growing number of posts arguing that on-chain governance and coin voting is bad. Just a few examples from Twitter: Decred is solving an imagined problem (decent response by @jm_buirski), we convince ourselves that we need governance and ticket price algo vote was not controversial, on-chain governance hurts node operators and it is too early for it, it robs node operators of their role, crypto risks being captured by the wealthy, it is a huge threat to the whole public blockchain space, coin holders should not own the blockchain.
Some responses were posted here and here on Twitter, as well as this article by Noah Pierau.

Markets

The month of May has seen Decred earn some much deserved attention in the markets. DCR started the month around 0.009 BTC and finished around 0.0125 with interim high of 0.0165 on Bittrex. In USD terms it started around $81 and finished around $92, temporarily rising to $118. During a period in which most altcoins suffered, Decred has performed well; rising from rank #45 to #30 on Coinmarketcap.
The addition of a much awaited KRW pair on Upbit saw the price briefly double on some exchanges. This pair opens up direct DCR to fiat trading in one of the largest cryptocurrency markets in the world.
An update from @i2Rav:
We have begun trading DCR in large volume daily. The interest around DCR has really started to grow in terms of OTC quote requests. More and more customers are asking about trading it.
Like in previous month, Decred scores high by "% down from ATH" indicator being #2 on onchainfx as of June 6.

Relevant External

David Vorick (@taek) published lots of insights into the world of ASIC manufacturing (reddit). Bitmain replied.
Bitmain released an ASIC for Equihash (archived), an algorithm thought to be somewhat ASIC-resistant 2 years ago.
Three pure PoW coins were attacked this month, one attempting to be ASIC resistant. This shows the importance of Decred's PoS layer that exerts control over miners and allows Decred to welcome ASIC miners for more PoW security without sacrificing sovereignty to them.
Upbit was raided over suspected fraud and put under investigation. Following news reported no illicit activity was found and suggested and raid was premature and damaged trust in local exchanges.
Circle, the new owner of Poloniex, announced a USD-backed stablecoin and Bitmain partnership. The plan is to make USDC available as a primary market on Poloniex. More details in the FAQ.
Poloniex announced lower trading fees.
Bittrex plans to offer USD trading pairs.
@sumiflow made good progress on correcting Decred market cap on several sites:
speaking of market cap, I got it corrected on coingecko, cryptocompare, and worldcoinindex onchainfx, livecoinwatch, and cryptoindex.co said they would update it about a month ago but haven't yet I messaged coinlib.io today but haven't got a response yet coinmarketcap refused to correct it until they can verify certain funds have moved from dev wallets which is most likely forever unknowable (slack)

About This Issue

Some source links point to Slack messages. Although Slack hides history older than ~5 days, you can read individual messages if you paste the message link into chat with yourself. Digging the full conversation is hard but possible. The history of all channels bridged to Matrix is saved in Matrix. Therefore it is possible to dig history in Matrix if you know the timestamp of the first message. Slack links encode the timestamp: https://decred.slack.com/archives/C5H9Z63AA/p1525528370000062 => 1525528370 => 2018-05-05 13:52:50.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Your feedback is precious. You can post on GitHub, comment on Reddit or message us in #writers_room channel.
Credits (Slack names, alphabetical order): bee, Richard-Red, snr01 and solar.
submitted by jet_user to decred [link] [comments]

Rumors Of The Demise Of The Blockchain Industry Have Been Greatly Exaggerated

Authored by Omid Malekan via Medium.com,
The sharp decline in the price of cryptocoins has spurred an outpouring of commentary from columnists and academics who - suspicious of the asset class all along - now feel vindicated. But their focus on falling prices this year is just as foolhardy as the evangelists focus on gains last year, and somewhat misses the point. The biggest blockchain headline of 2018 isn’t that prices have crashed, but that adoption has accelerated throughout the decline.

Among the entrepreneurs and developers building out the technology, there is a growing sense of satisfaction that an industry primarily known for its hypothetical promise is finally starting to deliver. If you can manage to look past sensational stories of “who lost how much in Bitcoin,” what you’ll find are far more interesting stories on adoption and implementation. Whereas 2017 was the year of whether, 2018 is going out as the year of when _and _how.This is an important shift, despite ongoing challenges. Blockchain is a foundational technology, so adoption isn’t just about new systems, but a re-architecting of how business is done. That’s no small task, as we were reminded recently when the parent of the New York Stock Exchange announced a delay in the launch of its physical-backed Bitcoin futures. Tempting as it might be to interpret that news as yet another setback in the midst of a bear market, it’s a startling reminder of how far things have come. Not that long ago, the idea of one of the worlds biggest financial companies adopting Bitcoin felt like a pipe dream. Today, we lament a short delay.
Once rolled out, those futures will be an important bridge between legacy financial markets and natively digital ones. This sort of infrastructure is vital to making good on the industry’s loftier promises, and encouragingly, where progress seems to have accelerated, as told by the people who would know. Konstantin Richter, the CEO of Blockdaemon, a leading blockchain infrastructure company, recently told me:
“We are seeing a strong increase in individual nodes getting deployed. Enterprise demand has increased also.”
That simple statement says a lot, because nodes to a blockchain are like servers to a network. That people and companies are deploying them could only mean they plan on using the technology.
Progress is accelerating on the “re-architecting how business is done” front too. According to Christiana Cacciapuoti, the executive director of Adledger, a non-profit building new standards for blockchain-based online advertising, the consortium now counts all of the big four ad agencies as members, something that wouldn’t have happened if there was no there there.
The same could be said of names like Walmart and Fidelity, both of which announced major blockchain-based initiatives this past summer. Many more seem to be watching, as expressed by Mike Dudas, founder of The Block, a leading blockchain news and intelligence service. When I asked him whether interest had declined with price, he said “despite the decline, corporate interest is accelerating, and we’ve seen significant professional uptake in our coverage.”
Perhaps the strongest vote of confidence came from Clarissa Horowitz, VP of Marketing at Bitgo, a leading cryptocoin custody tech and service provider. Bitgo announced a new qualified custodian service aimed at institutions just a few months ago, just as the price decline accelerated. Custody being a service only needed by those who deal with the actual coins, I wondered if demand had been tepid. Her response? “Interest has been off the charts.”
From my own vantage point, demand for my education service and sales of my book are as strong as ever. The critics hear all of this, but still obsess over falling prices. To be fair, so do some industry insiders. But if there’s one lesson everyone watching crypto markets should heed from traditional ones, it’s that price seldom matters as much as most people think.
Just in the past two months, shares of graphic hardware maker Nvidia have lost half of their value. Tellingly, no one is interpreting this to mean the end of the industry. Semiconductor stocks have always been volatile, and a volatile asset making big moves is not that revealing. Naysayers have tried to pin the collapse on falling demand from crypto miners, but that doesn’t explain why the stock surged 50% earlier this as the price of Bitcoin got cut in half.
So why did the stock collapse? For a myriad of complicated reasons, including the broader correction in tech stocks. That correction, by the way, has knocked a trillion dollars off the market cap of just five tech companies, more than the losses in all cryptocoins combined. But nobody is interpreting it to mean the end of smartphones or social media. Wild price swings are often more about marginal changes in sentiment than actual changes in output, a fact perhaps even more true for commodities.
The recent decline in oil prices for example, has little to do with supply and demand, as neither has changed much as prices have fallen. Drawing major conclusions from short-term price swings is tempting, but can be a trap. Ten years ago, a far bigger collapse in oil lead many to predict the end of the US shale boom. History proved them wrong, as American oil output today is triple what it was back then, with most of the gains having occurred in the teeth of the bear market. The decline in prices only drove drillers to become even more efficient at fracking. A decade later, that new way of drilling has really taken over, for the simple reason that it’s a better way of doing things.
Blockchain technology is also a better way of doing things. It’s core tenets of transparency, democracy and cooperation are universally considered desirable in almost any other context. So why do so many remain skeptical? One answer is jealousy from those who missed out on the boom, but there’s more to it. The bigger issue — haunting enthusiasts and skeptics alike — is the truly transformative nature of this technology.
If optimists such as myself are proven right, then we are about to undergo a major re-architecting of many aspects of society, toppling incumbent leaders and anointing new ones. Entrepreneurs worship the mighty god of disruption, but in its path lies the pain of the disrupted.
Just recently, the CEO of the celebrated startup Transferwise declared that his company saw no implementation of blockchain tech that made its online payment service faster or cheaper. His comments made the rounds given the backdrop of falling coin prices, but I took them to be rather bullish. If my overall thesis pans out, then the Transferwises of the world will never find a good use for blockchain, because the technology eliminates the need for them altogether. People can already exchange and send digital dollars all over the world using decentralized blockchain rails, for a fraction of even what Transferwise charges. The only drawback is that the front-end and user experience is not nearly as polished as those offered by a centralized payment service.
That problem will eventually be solved, because a shared global ledger is a better way of handling payments than the fragmented and siloed solutions of today, in the same way that a shared spreadsheet in the cloud is a better way of cooperating with colleagues than passing around a notebook. So to all those who continue to obsess about prices, I offer a simple reminder that what matters most are the opportunities that lie ahead, not the price declines that lay behind. This was true in the energy sector a decade ago, and even more true in the tech sector two decades ago.
Back then, during the aftermath of the dot com bust, the shares of a little online bookseller traded at a mere $6, having lost 95% of their value. Critics took the magnitude of that decline — even greater than the current crypto one — to mean that the promise of eommerce had been exaggerated. But Jeff Bezos and his team still believed that online shopping was a better way of doing things, so despite the raging bear market, they proceeded to significantly expand Amazon’s offering. History, and a subsequent 30,000% appreciation in the stock, proved them right. Sometimes, the biggest takeaway from a major price decline is the emergence of a great opportunity.
submitted by rotoreuters to zerohedge [link] [comments]

IDGC my new favorite lottery play

Per their own PR
ID Global Corporation (IDGC) is a diversified holdings company with a focus on emerging and middle market investment opportunities inNorth America. IDGC seeks, through debt and equity investments, minority positions as well controlling interests in established companies and special situation start-ups.
Investments
Investing in Physician Healthcare Management Group. Generated $358,000 in receivables from PHYH in May. In addition to the $640,000 in Promissory Notes including $250K in Secured Promissory Notes in March.
Owns 500,000 shares of Jack Rockwell inc.
Pros:
Company is current and reporting. Company looks to have hit the bottom and bouncing back. Company has good rumors of MergeAcquisition and may use bitcoin later on. Company has been accumulating 3s n 4s hard. Could pop one any catalyst.
IDGC has more shareholders than most other OTCPink stocks on record. 834 shareholders at last reporting, That’s more than 400% of what SKYF showed at last reporting(187) and more than 250% of PMBS’s last reporting of 317 shareholders
Looks like:
130,000,000 shares of APRU
1,000,000 shares PHYH
? Sharees ARPU, included in LVVV deal, possible merger coming between the two.
Associated with MJNA, ADIA, RSHN through its investments
Financial Standing
Transitioned from a $4.3 Million loss in 2012 to a $2.7 Million profit in 2013.
Chart
Completely bottomed out. Hit .0002’s on Friday, a 52 week low. This was on low vol on a low float play. Recently notified that filings will be delayed causing last drop to .0002’s.
Dilition ended April 2, 2014. No reported convertible shares issued since then.
stockcharts.com/c-sc/sc?s=IDGC&p=D&b=5&g=0&id=p95448242713
Share Structure
Market Value1
$193,174
a/o May 16, 2014
Shares Outstanding
965,867,597
a/o Dec 31, 2013
O/S affirmed in most recent 10k
Float
326,407,182
a/o Mar 28, 2013
Authorized Shares
2,500,000,000
a/o Dec 31, 2013
MATTERS OF CONCERN
Liabilities were growing faster than assets/revenues but looks to improve.
Current debts being refinanced.
Other current debts in default.
$75k note convertible June 4, 2014
$100k in notes from April to September
Company leaders
Jefferson Stanley
Mr. Stanley has over 12 years of management, investment banking, mergers & acquisition, and consulting experience with companies in a broad range of industries including healthcare, technology, energy, financial services, and real estate. Former employers include Ernst & Young, Dain Rascher Wessels, Royal Bank of Canada, Black River Asset Management, EZ4 Media, DaneVest Corporation, and Care Madison, LLC. Mr. Stanley holds a Doctorate of Jurisprudence and Masters in Business Administration from Rutgers University and a Bachelor of Science with Majors in Finance and Political Science from San Diego State University. He is a registered attorney in New York.
Carl Trop
Over the past 25 years, Mr. Trop has successfully acted across the spectrum of real estate investment, development, finance, asset management and their ancillary requirements. Mr. Trop has acquired office buildings, apartment complexes and development sites. In a development capacity, Mr. Trop has built hi-rise condominiums and apartments as well as single family homes. He has redeveloped for alternative uses- apartments, office and a school. Mr. Trop brings extensive experience in project development, planning, government interface, design, layout, entitlement, leasing and debt and equity origination and execution. Mr. Trop is a graduate of the Wharton School of Business, Bachelor of Science class of 1981 and the Columbia University Graduate School of Business, 1991, MBA. Mr. Trop has served as President and as a Member of the Board of Directors of the Wharton Business School of New York.
Walter “Wally” Powell, III
Mr. Powell is a second-generation, energy professional with 21 years of comprehensive experience in the crude oil and natural gas exploration and production industry. In addition to being an independent producer of oil and gas, he has provided oil field services, project management and construction services in the Appalachian Basin, Illinois Basin & the Cumberland Plateau and has conducted independent valuations of oil and gas properties in Kentucky, Illinois, Indiana, Tennessee, Texas and West Virginia.
Mr. Powell has structured strategic alliances between a myriad of companies for the purpose of business development, mergers and acquisitions, divestitures, and has arranged conventional and non-conventional finance solutions for various entities. By thoroughly understanding the vertical and horizontal processes of the industry, Mr. Powell has been able to successfully identify synergies between companies and develop strategies for solutions and growth.
Mr. Powell is a 1993 graduate of Transylvania University, Lexington, Kentucky and currently serves as the Chief Operating Officer and Executive Vice-President of Consolidated Oil and Gas Corporation (COGC), Barbourville, Kentucky. COGC is an independent E & P company with operations in Kentucky and Tennessee.
Rumors
Current CEO, Dufort considering accepting Bitcoin as payment for future business dealings. MergeAcquisition deal.
Edit 1: BIG PR by APRU today. (IDGC has major holdings there) APRU: THIS IS PART OF APRU INVESTMENT / TO MERGE INTO LVVV / LVVV BOUGHTOUT RSHN / CEO OF LVVV IS CEO OF ADIA LVVV has partnered with MJNA
Looks like IDGC may go for the MMJ play. Boom! #later .000's imo
submitted by Crackpants to PennyStockWatch [link] [comments]

1/9 Tuesday's Stock Market Movers & News

Good morning traders of the StockMarket sub! Welcome to Tuesday! Here are your stock movers & news this morning-

(CLICK HERE TO VIEW THE FULL SOURCE!)

Frontrunning: January 9

STOCK FUTURES NOW:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

TODAY'S MARKET HEAT MAP:

(CLICK HERE FOR YESTERDAY'S MARKET HEAT MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS WEEK'S ECONOMIC CALENDAR:

(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)

THIS WEEK'S IPO'S:

(CLICK HERE FOR THIS WEEK'S IPO'S!)

THIS WEEK'S EARNINGS CALENDAR:

($JPM $LEN $KBH $WFC $SCHN $HELE $BLK $AYI $DAL $FCEL $MSM $SVU $PNC $SNX $WDFC $SJR $SHLM $SMPL $EXFO $SAR $LMNR$SLP$PRGS $NTIC $VOXX $INFY)
(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)

THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

()
([CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!]())
N/A.

EARNINGS RELEASES BEFORE THE OPEN TODAY:

(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)

EARNINGS RELEASES AFTER THE CLOSE TODAY:

(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!)

THIS MORNING'S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR THIS MORNING'S UPGRADES/DOWNGRADES!)

THIS MORNING'S INSIDER TRADING FILINGS:

(CLICK HERE FOR THIS MORNING'S INSIDER TRADING FILINGS!)

TODAY'S DIVIDEND CALENDAR:

(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!)

THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:

  • AGN
  • PYPL
  • MSFT
  • UAA
  • ETH.X
  • TGT
  • AKS
  • OSTK

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
Under Armour — Analysts at Susquehanna downgraded the athletics apparel to "negative" from "neutral," noting the Under Armour brand remains at risk. "Given poor brand distribution decisions, we believe UAA risks are becoming more like Reebok than Nike," analysts said.

STOCK SYMBOL: UAA

(CLICK HERE FOR LIVE STOCK QUOTE!)
Target — Target shares popped more than 4 percent in the premarket after the retailer reported stronger-than-expected sales for the holiday season. Target also raised its full-year outlook.

STOCK SYMBOL: TGT

(CLICK HERE FOR LIVE STOCK QUOTE!)
Amazon — Piper Jaffray hiked its price target on the e-commerce giant's stock to $1,400 from $1,200, representing a 12.3 percent upside from Monday's close. "Looking at data on overall holiday retail spend in the U.S. vs. our estimated Amazon domestic holiday GMV [gross merchandise value] suggests only low-to-mid single digit penetration for the company. The conclusion is that Amazon … is arguably still in the early innings of its share-gain potential."

STOCK SYMBOL: AMZN

(CLICK HERE FOR LIVE STOCK QUOTE!)
Allergan — Allergan issued weaker-than-expected guidance for fiscal 2018. CEO Brent Saunders attributing the weak expectations to "loss of exclusivity revenue headwinds in 2018."

STOCK SYMBOL: AGN

(CLICK HERE FOR LIVE STOCK QUOTE!)
Urban Outfitters — Urban Outfitter's stock dropped nearly 5 percent before the bell on the back of disappointing holiday sales.

STOCK SYMBOL: URBN

(CLICK HERE FOR LIVE STOCK QUOTE!)
Seagate Technology — The hardware technology company issued gross margin, revenue and shipment guidance that surpassed analyst expectations. Seagate shares got a 7.1 percent boost in the previous session on a report that the company invested in Ripple, which owns the cryptocurrency XRP.

STOCK SYMBOL: STX

(CLICK HERE FOR LIVE STOCK QUOTE!)
Berkshire Hathaway — Warren Buffett's conglomerate is set to take a $37 billion windfall from the recent tax-code overhaul. The boost results from Berkshire lowering its tax liability on appreciated investments, according to Barclays.

STOCK SYMBOL: BRK.A

(CLICK HERE FOR LIVE STOCK QUOTE!)
Intel — Intel unveiled its first autonomous car at the CES expo in Las Vegas. The car is the first in its 100-vehicle test fleet.

STOCK SYMBOL: INTC

(CLICK HERE FOR LIVE STOCK QUOTE!)
PayPal — Analysts at Cowen upgraded the payments platform's stock to "outperform" from "market perform" and raised their price target to $88 from $67. "We believe most of the bear theses have not and will not play out … while PYPL's growth trajectory remains among the most compelling in the Payments space."

STOCK SYMBOL: PYPL

(CLICK HERE FOR LIVE STOCK QUOTE!)
Alibaba — Founder Jack Ma said Alibaba will "seriously consider" listing shares in the Hong Kong stock market.

STOCK SYMBOL: BABA

(CLICK HERE FOR LIVE STOCK QUOTE!)

FULL DISCLOSURE:

bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.

DISCUSS!

What is on everyone's radar for today's trading day ahead here at StockMarket?

I hope you all have an excellent trading day ahead today on this Tuesday, January 9th, 2018! :)

submitted by bigbear0083 to StockMarket [link] [comments]

1st RDAD Retro-gaming contest !

Welcome to the first RDAD Retro-gaming contest

A bit of History:

Introduction

As someone could imagine, we need an emulator for play this game (maybe you are lucky enough to be the owner of the real machine.. but nah.. chances are 0,1%). So let's talk a bit of techie details.
There are many emulators that would run nicely the game. These emulators needs a ROM file (An exact copy of the data stored in the original hardware cards inside the arcade machine). Of course, you will need a computer to run the emulator.
In this point, We will tell you that your computer needs very few requirements for run the emulator, so don´t be afraid of your machine's specs.
I'll recomend you to use this emulator: Kawaks
Kawaks is a software designed for Microsoft Windows that would run seamlessly on a wide variety of environments, spanning across all operating system versions since XP. It's higly customizable, but pretty straightforward to get things run.
There are others emulators, like Callus, but Kawaks would work better with your graphic card (whatever it be) and the screenshot feature is easier than Callus. We will need to take screenshots, with whatever emulator you use, because this is the way to post your score, right? This point will be discussed later.
The second component, is the rom. This file contains the whole game. You don´t need to open or decompress this file, it's ok as is, so you only need to download to a folder on your computer.

First Step

You need to download the emulator and the rom. For emulator, go to winkawaks website. Under "downloads" option at the right column, you can download a zip package called WinKawaks.zip 1.63. For the contest, is enought to extract the executable file called winkawaks.exe to a folder.
For rom, you must search using google or similar to a file called cawing.zip (1.4mb). Romnation is a website that offers rom files for direct download.
NOTE: Downloading this type of files could be a Copyright Infringement and I am not responsible whatever damage you could do to your system if you download this type of file. If you are not sure what are you doing, please, do not try to complete this guide.

Second Step

After downloading the Rom file put winkawaks.exe and rom file to a folder on your hard drive (we will need this folder ahead, so keep in mind this detail). This is a pretty straightforward process. ATTENTION: Keep the rom zip file as is, decompressing is not needed. After that, you must execute this: WinKawaks.exe This is a portable version of the emulator, so you will not need to install anything on your computer.

Third Step

Ok, I feel your excitement, so double click!. The emulator will show you a message about auto-configure the optimal graphics options. After that, you are in the main screen with the SNK and CAPCOM logo.
Let´s do a quick tweak, head your pointer to File Menu, and then: Configure Paths.
We will see a bunch of paths, but we are looking specifically at two under labels: ROMS2 and SCREENSHOTS. Clicking on browser buttons will bring you an explorer and you will choose this: ROMS2: Find the directory where you uncompressed the whole thing on Second Step. SCREENSHOTS: Choose your directory where the snapshots will be saved for further use. THIS IS IMPORTANT Because the contest relies on your ability to post those screenshots.
We have time restraints, lets play! DAMN!. Point on File Menu -> Load Game. A gorgeus windows open in your eyes with a great lists of fine game for mature adults, but dont feel too excited, we only have one, CARRIER AIR WING, remember?, so let´s do some filtering setting the bulleted options to: Only available and then: Refresh. Does you see the game title? Yes? C'MON Put your speakers to 200% volume and double click! YaY!
CONTROLS SO FAR:
I will not explain you how to play, it's self explanable after 20 seconds.. choose your plane and pew pew pew..
And thats all! Nice? yes!

The contest

Ok, After finish the setup and play the game, let's talk about the contest. This will run a whole week starting at XXX and finishing at XXX Every time you die, you will be asked for your initials, and you will see the top chart. In this moment, TAKE A SCREENSHOT WITH THIS KEYS: CTRL + P (Only for Kawaks). This will spawn a PNG file on the directory set on Third Step under the label SCREENSHOTS. This is your entry to the contest. You must send a link to the PNG file (by imgur i.e.) to me and I'll collect all. Win the player with highest score.
Resume:
Additional Info:
You can use whatever emulator of your choice, maybe you'd prefeer callus, or mame.. or play with a modded Xbox.. but I don´t know how to get screenshots on those ways. Additionally, we could accept any format that you are capable of snap the score chart. So set your smartphone ready, right? If you use CALLUS, take in mind that you need to lower your screen deep colour to 16 bits and you will be able to take a screenshot with Windows: PRNT SCREEN key.. Callus is easy, but this is a pain!
What if the score chart hides after 2 or 3 seconds? Wait until the intro. The machine will show you the current chart. (Did you remember the alert about clogging the machine with coins? This is because the machine will not show the chart if coins inserted, so you must expend all the coins prior to see the chart again).
Can I use my USB pad! well, some pads works, some not..you could try it under the Game menu, Redefine Keys.. and try it.
NOTE TO CHEATTERS: Due to the nature of emulators is more than easy to make cheats in game, like spawn more lives, slow down the pace, etc.. So we strongly encourage our participants to not do any cheat. We don´t cheat! right?. Well, in this point I want to say that there are better systems to play due to keyboards, gamepads. We cannont warrant a perfect balance between contestants, so please, don´t take things too serious, NefariousOaf will win, isnt?. Oh, it's possible to "continue" the game using the 2nd player slot, but this will be considered as cheat!, so only one live!
Using USB pads will not be considered cheat. Keys works flawlessly, but due to the wide spectrum of hardware available, maybe your keyboard will not work nice, so feel free to ask and I'll try to find a solution, alternative keys, etc..
CONCLUSION:
At last! Feel absolutely free to ask me any details involving your set-up, mechanics, whatever..
Special Thanks to jpier for his help! he's a good man.
UPDATE at 05/10/2015
Update First Step: Removing direct link download due to copyright concerns. Update Second Step with new details about ROM and Emulator and the way it works. Update Date Format to dd/mm/yyyy to mm/dd/yyyy on Post's dates.
Pew pew pew..boom!
submitted by dspazio to RedditDads [link] [comments]

Subreddit Stats: ethereum top posts from 2015-07-30 to 2017-10-27 14:49 PDT

Period: 819.97 days
Submissions Comments
Total 1000 68061
Rate (per day) 1.22 82.97
Unique Redditors 563 11755
Combined Score 258924 352105

Top Submitters' Top Submissions

  1. 7610 points, 33 submissions: vbuterin
    1. Personal statement regarding the fork (536 points, 830 comments)
    2. Highlight for discussion: EIP 648 (make ethereum highly parallelizable within a single node; possible pre-sharding scalability improvement) (533 points, 100 comments)
    3. A Grab Bag of Thoughts on ETC and Forks (458 points, 273 comments)
    4. Analyzing Token Sale Models (429 points, 100 comments)
    5. A note on how the latest Casper PoC accomplishes its fast block times safely (417 points, 80 comments)
    6. A (not so sneak) peek at the current version of the Casper contract (313 points, 77 comments)
    7. The Current HF Status (309 points, 504 comments)
    8. Should we make a move toward making checksummed hex addresses mandatory? (296 points, 75 comments)
    9. How can Ethereum Research be more welcoming to newcomers and people from the outside with good ideas? (294 points, 115 comments)
    10. Sharding Research in Mind Map Form (265 points, 26 comments)
  2. 5672 points, 17 submissions: 5chdn
    1. Huge Milestone: Ethereum Stack Exchange graduates as one of the top-35 world technology sites. (903 points, 55 comments)
    2. Happy Byzantium hard-fork from the Parity offices! :) (793 points, 25 comments)
    3. Welcome to Ethereum, the Reddit front page of the Web 3, read this to get started or ask questions. (536 points, 321 comments)
    4. Ethereum's Byzantium Hard Fork Is Running Smoothly, Developers Say (507 points, 50 comments)
    5. [Ongoing Q&A Thread] Newbie Corner, ask your questions here. (351 points, 1968 comments)
    6. The Multi-sig Hack: A Postmortem (298 points, 206 comments)
    7. Parity 1.7.3 is released. If you run a Parity Ethereum node please upgrade before the Byzantium hard-fork kicks in at block 4_370_000. (288 points, 52 comments)
    8. Ladies and Gentlemen, we have forked. (274 points, 74 comments)
    9. Parity 1.7.2-beta released. Byzantium inside. (239 points, 21 comments)
    10. Parity 1.7.6 ... consensus-relevant fix ... for hard-fork ... please upgrade ... 4_370_000 ... ... (239 points, 56 comments)
  3. 5045 points, 21 submissions: Souptacular
    1. Why I Can't Defend Coindesk Any Longer. Take Action. Support Omar. (596 points, 117 comments)
    2. Byzantium HF Announcement - Ethereum Blog (368 points, 84 comments)
    3. Ethereum's ERC-20 token standard has been formalized as an EIP (364 points, 33 comments)
    4. ROPSTEN TESTNET USERS UPDATE YOUR CLIENTS. Hard fork is occurring in the next 48 hours. (360 points, 89 comments)
    5. Byzantium Fork Status - Monitor It Live! (305 points, 101 comments)
    6. [IMPORTANT] There are NO donation addresses for the White Hat Group currently. Anyone who is posting an address is scamming. (249 points, 20 comments)
    7. Help Wanted: Metropolis QA/Testing (238 points, 23 comments)
    8. Ethereum Core Dev Meeting and Metropolis Release Date (234 points, 57 comments)
    9. [URGENT] Update your clients to geth v1.7.2, Parity v1.7.6, or Harmony v.2.1.0 if you have not done so already! Less than 24 hours until the Byzantium hard fork. (230 points, 78 comments)
    10. [ANN] Update your geth client to 1.5.3. Consensus bug in geth v1.4.19 and v1.5.2 - Ethereum Blog (224 points, 65 comments)
  4. 4881 points, 13 submissions: insomniasexx
    1. What Happens When you Send a Transaction via MyEtherWallet (A Very Simple Illustration) (1307 points, 137 comments)
    2. [UPDATED] It’s Time to Get Real: Stop Relying on Third Parties to Protect You & Your Funds. You are responsible for your security. (888 points, 197 comments)
    3. Words are Hard: Defining Common Terms in the Ethereum / Crypto Space (665 points, 77 comments)
    4. MyEtherWallet v3.10.5 Released: The gas price can now be adjusted by 0.1 GWEI instead of 1 GWEI. This also means the min gas price via slider is 0.1 GWEI 🎉 (367 points, 39 comments)
    5. This is your friendly weekly reminder that this is crypto and you are ultimately responsible for your safety and security. Please be diligent. (232 points, 51 comments)
    6. ⚠ BEWARE: MYETHERWALLET >>.INFO<< IS A PHISHING SCAM AND WILL TAKE ALL YOUR FUNDS. myEtherWallet is MyEtherWallet.com (230 points, 30 comments)
    7. It’s Time to Get Real: Stop Relying on Third Parties to Protect You & Your Funds. You are responsible for your security. (212 points, 61 comments)
    8. Massive MyEtherWallet.com Update: Better URIs, The Hardfork, and looking back at the Golem Crowdfund. (177 points, 28 comments)
    9. Announcing MyEtherWallet v3.4: The Node Switcher (168 points, 48 comments)
    10. Pro-Tips: How Not to get Scammed during a Token Sale (167 points, 65 comments)
  5. 4567 points, 10 submissions: econoar
    1. Visa, IBM, Microsoft and USAA have all posted jobs in the past week looking for Ethereum developers (1217 points, 108 comments)
    2. Bank of America is looking for developers with a background in Ethereum to help build a new Card Account and real-time settlement system. (952 points, 105 comments)
    3. Goldman-Backed Startup Circle Launches No-Fee Foreign Payments Service. Built on Ethereum. (867 points, 96 comments)
    4. Santander Vies to Become First Bank to Issue Cash on Blockchain using Public Ethereum Chain (417 points, 82 comments)
    5. Ethereum isn't about price and hashrate, it's about making applications that could change the world. (332 points, 115 comments)
    6. geth fix is here (180 points, 38 comments)
    7. @avsa: Just tested @zsfelfoldi light client. Mainnet synced in 3m30s from scratch, used 30mb. Didn't need to change a single line of code in Mist. (163 points, 23 comments)
    8. Ethcore blog: "You should see fully hard-fork optional clients appearing in the next week or so" (154 points, 60 comments)
    9. Thomson Reuters is making their own Ethereum wallet (144 points, 33 comments)
    10. Nasdaq Veteran Joins Ethereum Foundation as Security Lead (141 points, 9 comments)
  6. 3988 points, 17 submissions: chriseth
    1. Ethereum testnet just verified a zcash transaction (729 points, 157 comments)
    2. Solidity version 0.4.16 released (431 points, 34 comments)
    3. Solidity v0.4.12 Released (285 points, 16 comments)
    4. Solidity 0.4.18 released (272 points, 20 comments)
    5. Solidity 0.4.15 released (263 points, 17 comments)
    6. Solidity v0.4.17 Released (211 points, 8 comments)
    7. New Blog post: An Update on Integrating Zcash on Ethereum (ZoE) (206 points, 88 comments)
    8. zkSNARKs and Smart Contracts on Plasma - Recordings of Ethereum Berlin October (201 points, 20 comments)
    9. Babbage - a mechanical smart contract language (190 points, 40 comments)
    10. Solidity Version 0.4.11 Released (184 points, 12 comments)
  7. 3693 points, 16 submissions: twigwam
    1. Understand why Ethereum exists, and you’ll get why it’s a big deal [MIT Technology Review] (539 points, 29 comments)
    2. Spotify acquires blockchain startup Mediachain to solve music’s attribution problem (420 points, 45 comments)
    3. The National Bank of Canada Just Joined An Alliance to Develop Ethereum [Motherboard] (300 points, 24 comments)
    4. Ethereum Stole the Show at Microsoft's New York City Demo Day (292 points, 9 comments)
    5. A secure internet voting system using Ethereum and Zero-Knowledge Proof (268 points, 103 comments)
    6. The UN Wants to Adopt Bitcoin And Ethereum, And Soon (258 points, 36 comments)
    7. The Birth of Enterprise Ethereum in 2017 (216 points, 37 comments)
    8. More Banks to Sign Up for ING's Ethereum Oil Trading Platform (181 points, 9 comments)
    9. Vinay Gupta - European Parliament blockchain presentation! (176 points, 25 comments)
    10. Ethereum, The Next Internet (158 points, 23 comments)
  8. 3571 points, 17 submissions: karalabe
    1. Geth v1.7.2 (Urgent Update) out! Yes, Byzantium hotfix. Please update ASAP! (yay fuzzer) (454 points, 87 comments)
    2. Geth v1.6.5 - Hat Trick (counters current attack) (308 points, 72 comments)
    3. Roses are red, Violets are blue, Geth now supports Hardware wallets too! (v1.5.9) (270 points, 53 comments)
    4. Geth 1.6.0 - Puppeth Master released! Our best work till now ;) (241 points, 73 comments)
    5. Geth 1.7 - Megara: Faster, slimmer, Byzantium enabled ;) (234 points, 103 comments)
    6. Never fear, Geth 1.6.3 - Covfefe is here! (227 points, 42 comments)
    7. Ethereum nodes plotted on Google Earth (224 points, 17 comments)
    8. Geth 1.4.8 "DAO Wars" Released (217 points, 185 comments)
    9. Security Alert - DoS Vulnerability in the Soft Fork (185 points, 254 comments)
    10. Geth v1.7.1 (Ptolemy) - Byzantium on mainnet and Rinkeby! (172 points, 51 comments)
  9. 3407 points, 19 submissions: nickjohnson
    1. A proof-of-concept of a better crowdsale contract (408 points, 132 comments)
    2. Announcing the Ethereum Name Service Relaunch Date! (275 points, 59 comments)
    3. Introducing BeerCoin (213 points, 131 comments)
    4. AMA: We are the ENS team. Ask us anything! (207 points, 293 comments)
    5. ENS launch officially postponed. We'll back off, improve testing & validation, write a postmortem, and relaunch when ready. (207 points, 41 comments)
    6. First beta release of the ENS manager app - manage your ENS (sub)domains easily! (196 points, 86 comments)
    7. A smart contract solving the "gas money" problem for gifting ERC20 tokens (169 points, 19 comments)
    8. Ethereum gets quantum computing support with new EVM opcode 'TERMINATE' (166 points, 43 comments)
    9. Hosting a DNS domain on Ethereum (153 points, 19 comments)
    10. 'thetoken.eth' now has subdomains for all major tokens (149 points, 75 comments)
  10. 3294 points, 15 submissions: thehighfiveghost
    1. CoinDesk: Ethereum Foundation Strikes Deal with Russian Development Bank (618 points, 163 comments)
    2. Critical update RE: DAO Vulnerability (248 points, 995 comments)
    3. Melonport: We’re very proud to announce our new v0.1.0 release of the Melon Portal! Feedback welcome! (247 points, 33 comments)
    4. The Devcon2 site is now live! (243 points, 60 comments)
    5. BREAKING NEWS: I hereby announce that I, Vitalik Buterin, am the founder of ethereum. (237 points, 53 comments)
    6. Announcement: Underhanded Solidity Coding Contest (215 points, 27 comments)
    7. Very happy to announce Devcon2 is now sold out! See you all in Shanghai! (201 points, 24 comments)
    8. New blog post from Ethereum's Vitalik Buterin: Hard Fork Completed (181 points, 59 comments)
    9. The Ethereum Foundation and Wanxiang Blockchain Labs announce a blockbuster event combining Devcon2 and the 2nd Global Blockchain Summit in Shanghai, September 19–24, 2016 (177 points, 31 comments)
    10. The Ethereum Foundation is very proud to announce Banco Santander’s Gold Sponsorship of Devcon2, Shanghai, 19th - 21st Sept (164 points, 30 comments)
  11. 3182 points, 11 submissions: IDCrypto
    1. Singaporean Dollar Tokenized Through Ethereum’s Blockchain by the Monetary Authority of Singapore (690 points, 84 comments)
    2. Omise Go, Vitalik meet with the Central Bank of Thailand together (466 points, 75 comments)
    3. Japan’s Telecom Giant Launches Smart Contracts Project, Joins Ethereum Enterprise Alliance (368 points, 16 comments)
    4. Porsche to use a private Ethereum based blockchain (283 points, 55 comments)
    5. Toyota Prototypes Ethereum Blockchain Based Car Sharing Uber Alternative (259 points, 27 comments)
    6. Ethereum Developers Are Building a Sharding Solution Using Python (229 points, 29 comments)
    7. Blockchain payments startup TenX joins the Enterprise Ethereum Alliance (221 points, 6 comments)
    8. Russian Politician Calls For Removal of Taxation on Bitcoin and Ethereum (200 points, 12 comments)
    9. Russian Airline Starts Using Ethereum’s Blockchain in Live Production (193 points, 7 comments)
    10. ConsenSys Launches Due Diligence for ICOs (147 points, 29 comments)
  12. 3083 points, 16 submissions: latetot
    1. Thomson Reuters to make financial data available on Ethereum (388 points, 31 comments)
    2. Ever wonder how people are using ETH right now? see top contracts by gas used today: ENS, Etherdelta, gambling, exchanges, tokens - Good times! (333 points, 54 comments)
    3. ETH broke 300,000 transactions today for the first time (271 points, 113 comments)
    4. Vitalik confirms Zero knowledge proofs are on ETH roadmap (206 points, 87 comments)
    5. Ethereum processed more transactions than Bitcoin yesterday (193 points, 19 comments)
    6. The ability to reverse exploits that violate the intent and good faith actions of thousands of people will promote mainstream adoption - not hinder it. (192 points, 545 comments)
    7. Ethereum Wallets and the Problem of the Default Gas Price (178 points, 36 comments)
    8. Brian Armstrong, Coinbase CEO, 'if Ethereum pulls off this hard fork, very positive signal...shows they can listen to community, execute in time of crisis' (173 points, 106 comments)
    9. Of all the ups and downs over last couple of years, today's news has worried me the least (173 points, 18 comments)
    10. Attacker is gearing up again for new spam deluge (154 points, 123 comments)
  13. 2603 points, 12 submissions: sandakersmann
    1. Vitalik Buterin on Twitter: "I am working 100% on ETH." (362 points, 127 comments)
    2. Ethereum Reaches 50% of Bitcoin's Transaction Volumes (351 points, 78 comments)
    3. Looks like the work on "Mastering Ethereum" has started :) (280 points, 95 comments)
    4. What is Ethereum, and could it actually replace Bitcoin? (251 points, 79 comments)
    5. Gavin Andresen on Twitter: "ETH has 80% of BTC volume and is scaling with little drama. BTC's scaling 'problem' is due to a few 'we know what's best' devs" (229 points, 90 comments)
    6. Ethereum now has more nodes than Bitcoin! (186 points, 25 comments)
    7. Marius Kjærstad on Twitter: "At this pace it won't be many days before #Ethereum facilitates more transactions than #Bitcoin" (174 points, 26 comments)
    8. Raiden Network IoT Demo. Enabling high speed asset transfers for Ethereum. (174 points, 24 comments)
    9. Ethereum is Now the Most Secure Public Blockchain, Overtaking Bitcoin (173 points, 5 comments)
    10. Go Fork Yourself: Ethereum Booming, Near Double Bitcoin's Transactions (143 points, 13 comments)
  14. 2175 points, 9 submissions: avsa
    1. Starter guide: (almost) all the links you'll need to start understanding ethereum. (431 points, 198 comments)
    2. Update on the White Hat attack (373 points, 262 comments)
    3. ELI5: Byzantium Changes (306 points, 54 comments)
    4. New website: more content, more tutorials, more explanations, more unicorns. It's a new dawn! (217 points, 66 comments)
    5. We are doing a white hat attack on the DAO. (195 points, 267 comments)
    6. Ethereum Name Service Bug Bounty is Live (191 points, 18 comments)
    7. Release 0.8: First Mist Beta is out! Also, Wallet update. (169 points, 87 comments)
    8. New Ethereum Wallet 0.7.5, the "I'm sorry for 0.7.4" version. (149 points, 53 comments)
    9. Wallet and Mist 0.8.2: Coinbase integration, replay protection, new Auth UI and more (144 points, 57 comments)
  15. 2119 points, 3 submissions: PhiStr90
    1. Enterprise Ethereum Alliance Becomes World’s Largest Open-source blockchain Initiative (1209 points, 77 comments)
    2. Ethereum is now for the first time the blockchain with highest mining incentive or simply put 'the most secured' (462 points, 126 comments)
    3. Hewlett Packard Enterprise and 47 Organizations Join 200-Member Strong Enterprise Ethereum Alliance (448 points, 42 comments)
  16. 2065 points, 7 submissions: andrewkeys
    1. FOR IMMEDIATE RELEASE: EEA adds 86 new members (552 points, 80 comments)
    2. Ethereum is Growing Exponentially in China (440 points, 46 comments)
    3. 10 weeks of Ethereum education, and if you pass the final, you have a chance to be employed at ConsenSys (284 points, 58 comments)
    4. FOR IMMEDIATE RELEASE: Enterprise Ethereum Alliance is formed (256 points, 52 comments)
    5. EEA on Bloomberg (215 points, 9 comments)
    6. PRESS RELEASE: Ethereum Solidity now available in Microsoft Visual Studio (166 points, 24 comments)
    7. Check out new uport website (152 points, 40 comments)
  17. 1978 points, 9 submissions: cashitter
    1. SEC charges two ICO's with fraud (398 points, 105 comments)
    2. Ethereum Is Already Using a Small Country's Worth of Electricity (349 points, 107 comments)
    3. Martin Köppelmann (Founder of Gnosis): I am working 100% on ETH. (287 points, 11 comments)
    4. Right now there are 3 Ethereum related stories on the front page of HackerNews (194 points, 31 comments)
    5. switzerland (Home to the Ethereum Foundation) announced the official deregulation of blockchain startups (166 points, 14 comments)
    6. Apparent Agreement On Block 2,642,462 For The Next Hardfork. (162 points, 33 comments)
    7. [Video]Can Ethereum Restore Online Freedom and Transform the Internet? (144 points, 48 comments)
    8. Even Kuno Goda (Ethereum's very own artist) is working 100% on ETH (143 points, 0 comments)
    9. Real Vitalik got a message from Scam Vitalik (135 points, 7 comments)
  18. 1945 points, 4 submissions: jbaylina
    1. The WHG has Returned 100% of the Rescued Funds to their Rightful Owners (890 points, 78 comments)
    2. The WHG has Returned ~95% of the Funds and Now Hold Less Than $10 Million Worth of Rescued Funds. (644 points, 70 comments)
    3. A Modified Version of a Common Multisig Had A Vulnerability - The WHG Took Action & Will Return the Funds (284 points, 125 comments)
    4. Tonight the WHG will begin returning the rescued funds! (127 points, 23 comments)
  19. 1705 points, 4 submissions: AQuentson
    1. Ethereum Now Has Three Times More Nodes Than Bitcoin (704 points, 107 comments)
    2. Germany’s Energy Giant Launches 100s of Ethereum Based Electric Cars Charging Stations (468 points, 63 comments)
    3. Ethereum Developers Call on Miners to Use the Adaptive Gas Limit (374 points, 49 comments)
    4. Magic Internet Money is Finally a Reality – Web3.0 is Here (159 points, 44 comments)
  20. 1656 points, 1 submission: JcsPocket
    1. If this was you, thank you. (1656 points, 170 comments)
  21. 1625 points, 6 submissions: heliumcraft
    1. Plasma: Scalable Autonomous Smart Contracts (655 points, 129 comments)
    2. Vitalik Buterin: Casper PoC3 backbone simulations: 3s block time, 1.25s avg latency + 2s avg clock offset: 1% stale rate (284 points, 185 comments)
    3. Twitter: "You don't see these type of snarky comments from the Ethereum community when, say, a Bitcoin exchange gets hacked or a wallet has a bug.." (213 points, 141 comments)
    4. Iuri Matias (Embark Developer): "Embark, dev tools and dapps I work on will be targeting Ethereum as their primary platform. 100% ETH" (179 points, 2 comments)
    5. Vitalik Buterin on Twitter: Does anyone else notice how literally the only people calling for a hard fork or chain rollback right now are concern trolls? (161 points, 76 comments)
    6. twitter: "Amazon S3 currently making the case for the need of decentralized platforms such as ethereum's swarm" (133 points, 4 comments)
  22. 1527 points, 3 submissions: hodlon
    1. Mozilla offering $2M to anyone who can decentralize the web (812 points, 117 comments)
    2. Motherboard: Okay, WTF Is Ethereum? (515 points, 106 comments)
    3. "The Switchening" - When projects and business start switching over to Ethereum from other Blockchains. (200 points, 77 comments)
  23. 1503 points, 7 submissions: JoeyUrgz
    1. Introducing Bloom: The Future of Credit (372 points, 138 comments)
    2. Scaling Ethereum to Billions of Users (330 points, 61 comments)
    3. district0x Joins the Project Transparency Initiative (200 points, 19 comments)
    4. Will Work For Ethereum - Ethlance (175 points, 11 comments)
    5. Golem for macOS now live! (158 points, 31 comments)
    6. Introducing Dharma: A Protocol for Decentralized Peer-to-Peer Lending (142 points, 53 comments)
    7. Introducing the District Registry – district0x (126 points, 4 comments)

Top Commenters

  1. vbuterin (7804 points, 341 comments)
  2. nickjohnson (6252 points, 798 comments)
  3. 5chdn (2780 points, 464 comments)
  4. Souptacular (2584 points, 215 comments)
  5. avsa (2370 points, 214 comments)
  6. insomniasexx (2190 points, 206 comments)
  7. FaceDeer (2026 points, 348 comments)
  8. aribolab (1987 points, 260 comments)
  9. latetot (1902 points, 337 comments)
  10. Huynh_B (1869 points, 10 comments)
  11. ItsAConspiracy (1676 points, 269 comments)
  12. karalabe (1580 points, 159 comments)
  13. Savage_X (1541 points, 163 comments)
  14. cyounessi (1500 points, 163 comments)
  15. huntingisland (1421 points, 340 comments)
  16. thehighfiveghost (1418 points, 96 comments)
  17. chriseth (1378 points, 117 comments)
  18. Mr_Yukon_C (1373 points, 167 comments)
  19. antiprosynthesis (1339 points, 458 comments)
  20. LarsPensjo (1305 points, 322 comments)
  21. NewToETH (1295 points, 117 comments)
  22. BullBearBabyWhale (1229 points, 103 comments)
  23. Dunning_Krugerrands (1220 points, 141 comments)
  24. aminok (1212 points, 244 comments)
  25. evoorhees (1184 points, 68 comments)
  26. dillon-nyc (1182 points, 54 comments)
  27. djrtwo (1161 points, 68 comments)
  28. mcgravier (990 points, 157 comments)
  29. DeviateFish_ (985 points, 655 comments)
  30. seweso (952 points, 138 comments)
  31. baddogesgotoheaven (896 points, 143 comments)
  32. WhySoS3rious (886 points, 124 comments)
  33. C1aranMurray (871 points, 191 comments)
  34. ethereum_alex (850 points, 65 comments)
  35. silkblueberry (849 points, 107 comments)
  36. newretro (834 points, 182 comments)
  37. mattdf (832 points, 38 comments)
  38. cryptoboy4001 (825 points, 85 comments)
  39. bobsummerwill (824 points, 97 comments)
  40. SrPeixinho (781 points, 86 comments)
  41. shakedog (768 points, 128 comments)
  42. textrapperr (763 points, 97 comments)
  43. greggdourgarian (757 points, 72 comments)
  44. edmundedgar (751 points, 93 comments)
  45. supr3m (741 points, 43 comments)
  46. LGuappo (724 points, 127 comments)
  47. PrototypeModel (724 points, 103 comments)
  48. Uptrenda (723 points, 68 comments)
  49. aakilfernandes (720 points, 72 comments)
  50. Sunny_McJoyride (691 points, 172 comments)

Top Submissions

  1. If this was you, thank you. by JcsPocket (1656 points, 170 comments)
  2. SmartBillions lottery contract just got hacked! by supr3m (1328 points, 301 comments)
  3. What Happens When you Send a Transaction via MyEtherWallet (A Very Simple Illustration) by insomniasexx (1307 points, 137 comments)
  4. Visa, IBM, Microsoft and USAA have all posted jobs in the past week looking for Ethereum developers by econoar (1217 points, 108 comments)
  5. Enterprise Ethereum Alliance Becomes World’s Largest Open-source blockchain Initiative by PhiStr90 (1209 points, 77 comments)
  6. Local Gym in Cincinnati by flufylobster1 (1159 points, 114 comments)
  7. "If bitcoin is a pocketcalculator ethereum is a brand new iphone" - Germanys second biggest Newspaper on bitcoin by postkasten (1050 points, 99 comments)
  8. Vitalik Buterin: 90% of token startups will fall by fanatseal (1043 points, 214 comments)
  9. Just received this from my 86 yr old Nanna - adoption is coming! by canya-io (1038 points, 71 comments)
  10. Everytime I try explaining Ethereum to skeptics by lafoie (996 points, 170 comments)

Top Comments

  1. 1653 points: Huynh_B's comment in If this was you, thank you.
  2. 498 points: supr3m's comment in SmartBillions lottery contract just got hacked!
  3. 469 points: kezekia's comment in I just sent my dad some Ethereum for Father's Day!
  4. 461 points: JackAceHole's comment in A made-in-Canada cryptocurrency called ethereum will soon be worth more than bitcoin
  5. 396 points: pembull's comment in What do you think is the biggest risk to the success of Ethereum? If we imagine Ethereum were to fail, how/why do you think it would fail?
  6. 387 points: apoefjmqdsfls's comment in Critical update RE: DAO Vulnerability
  7. 387 points: vbuterin's comment in A made-in-Canada cryptocurrency called ethereum will soon be worth more than bitcoin
  8. 379 points: totodile_lvl_7's comment in Vitalik Buterin: 90% of token startups will fall
  9. 364 points: GBG-glenn's comment in Ethereum Metropolis appears in late September
  10. 334 points: DamosDaze's comment in Introduced Ethereum to my Company
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BITCOIN $16,000 On FRIDAY??  PARABOLIC!!  Altcoins CRASHING, But BOOM SOON? Moon Boy Podcast EP 11 Bitcoin MAJOR MARKET BOOM UPCOMING?! - LIVE Crypto Trading Analysis & BTC Cryptocurrency Price News (9/19/18) Bitcoin Chart Analysis Was bleibt nach dem Bitcoin Boom und wie kannst Du in der Zukunft davon profitieren?

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BITCOIN $16,000 On FRIDAY?? PARABOLIC!! Altcoins CRASHING, But BOOM SOON?

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