Category Archives: Money

How You Can Make Money From ICO

Very often we read and hear many crazy stories about how to get money on successful ICO’s. Actually, if you enter the market of an Initial Coin Offering, you probably get in at a more cheaper price. If and when the ICO is successful, you cash in your profits by selling at a much higher price.

The token price of an ICO could high significantly if an ICO achieves success.

Otherwise, we saw some less successful stories where members of the team simply disappear after they get funds from an ICO. Usually, the token price goes up down. And you finally end up losing your investment instead of getting money from ICO.

Then, if we are looking how to get money from ICO — we certainly need to be looking at some important parts which will make our risk much more lower.
To know your risk and doing proper due diligence is the only one way to enter into a new ICO investment. And the very important rule is that you should never invest money that you cannot afford to lose.

As everywhere in new business, the potential of losing or success depends on many factors. With a help of ICO, you have the additional exposure of ensuring that you are not investing in a pyramid.

One more important factor is that if you getting in at the right time in a startup gives you leverage due to price advantage. By the time if the project becomes successful, you can get a passive income in potential from returns and also capital gains on the price of the tokens.

If the project will be successful you may be looking at very handsome returns. Although, you must also be ready to lose your funds if the project loses. That is why to use the ten important rules is just a necessity. Be open-minded and careful at the same time, because these are not just happened games on the internet.

How You Can Get Money From ICO

https://ccurrency.io/can-get-money-ico/

How You Can Make Money From ICO

Very often we read and hear many crazy stories about how to get money on successful ICO’s. Actually, if you enter the market of an Initial Coin Offering, you probably get in at a more cheaper price. If and when the ICO is successful, you cash in your profits by selling at a much higher price.

The token price of an ICO could high significantly if an ICO achieves success.

Otherwise, we saw some less successful stories where members of the team simply disappear after they get funds from an ICO. Usually, the token price goes up down. And you finally end up losing your investment instead of getting money from ICO.

Then, if we are looking how to get money from ICO — we certainly need to be looking at some important parts which will make our risk much more lower.
To know your risk and doing proper due diligence is the only one way to enter into a new ICO investment. And the very important rule is that you should never invest money that you cannot afford to lose.

As everywhere in new business, the potential of losing or success depends on many factors. With a help of ICO, you have the additional exposure of ensuring that you are not investing in a pyramid.

One more important factor is that if you getting in at the right time in a startup gives you leverage due to price advantage. By the time if the project becomes successful, you can get a passive income in potential from returns and also capital gains on the price of the tokens.

If the project will be successful you may be looking at very handsome returns. Although, you must also be ready to lose your funds if the project loses. That is why to use the ten important rules is just a necessity. Be open-minded and careful at the same time, because these are not just happened games on the internet.

How You Can Get Money From ICO

https://ccurrency.io/can-get-money-ico/

Why is money useful?

Money is useful because it enables transaction to occur at a faster rate.

For example, if I have a MINI Cooper S, but want a GT350R, I’d have to find someone who has a GT350R and wants to trade for a fun yet unreliable British car. This is a slow process and unlikely to happen.


MINI Cooper S JCW GP-2. Loads of fun and a mouthful of a name.

With money, I can more efficiently exchange money for the GT350R and then the other person can use that money to exchange it for something they want, perhaps a fun yet unreliable British car. This is much faster and how things currently work.


Shelby GT350R. In red, of course.

What the Bitcoin is, and what it will become (in terms of survival and transformation (via forks?)

What the Bitcoin is, and what it will become (in terms of survival and transformation (via forks?) one assertion is suspect from the get go. This article says “ They see cryptos as a game changing technology that will help create more wealth and prosperity than any other technology in the history of the world.” Really? How?

This far Bitcoin is a speculative (short term) store of value. It is not very efficient as a medium of exchange, and with its volatility completely useless as a unit of account. How does it “create more wealth and prosperity” than (say) electricity, or the Internet ecosystem? If it does not collapse it will have created financial wealth, but not as a result of building productive capacity, or generating revenue and profits from the production and sale of goods and services.

If Bitcoin held at some long term stable price (denominated on other stable currencies (US dollar, Euro, ???)) its economic impact would be more like the opening shot in quantitative (monetary) easing (QE). A lot of potential purchasing power would have been accumulated in digital wallets, but mainly in private hands and not in the banking/financial system. Until it is used for purchases, it has no impact.. It is the uses to which this digital wealth is put that will impact wider (production and labour) generated wealth and impact general economic prosperity.

There is some economic impact from (a) Bitcoin mining, with associated concerns about the environmental impact of using so much electricity to produce a digital coin that may, in the long run, be worth less than the cost of production; and (b) some impact from all those ancillary services being rolled out to service the Bitcoin market, some wisely not wedded to Bitcoin but looking to be service providers for whatever form a digital (blockchain, tangle, etc.) based transactions currency actually takes. This is a growth area for existing banking and financial institutions to consolidate their market positions in the digital transactions market.

So, thinking as Bitcoin wealth as the equivalent of Quantitative Easing (QE) there is no clear link between a surviving Bitcoin and overall economic wealth and prosperity. Bitcoin may be just a “poker game” where most lose and some win big, or it may be a “bubble” where most lose, other than those lucky enough to abandon ship before the coin starts to sink.

Prosperity of the sort that also feeds real wealth will require a lot more than some luck with Bitcoin or some other cybercurrency.

Beware of Bubbles

What is a bubble?

In the context of capital markets, a “bubble” is a phenomenon in which the prices of an asset or asset class are bid up to levels far beyond their historical baseline, and far beyond what any rational valuation of future prospects would warrant.

Put simply, bubbles typically arise when some legit factor causes there to be excess demand for an asset, thus forcing the price of the asset to rise. This rise in price attracts speculators looking to turn a quick profit, which in turn drives the price up further. If speculators drive its price up enough, it gets the attention of the large financial institutions. Those who are bullish on the asset or are confident that they can make a quick buck out of it begin to drive its price up at an exponential rate. A fear of missing out kicks in and fund managers buy in simply because they see other managers doing the same. At this point, fortunes have already been made by those who bought in at the beginning. Stories of these overnight millionaires flood the news, suddenly everyone with a few bucks to scrape together is considering joining the fold.

This is where the calls of a market bubble start to appear. Sophisticated investors familiar with past market bubbles start to cry out that there is no away these price increases can continue. However, prices keep going up. There are still enough unsophisticated investors drawn in by the tales of the overnight millionaires, hoping it is not too late. Typically there are even large price corrections, but the asset quickly returns to reaching new highs. Eventually, the voices warning against a market bubble begin to get drowned out by the crowd.

Buyers begin to think that there is no limit to how high the price can go. To quote Alan Greenspan (though he was not the first person to use the expression), “Irrational Exuberance” begins to set in. Unfortunately, it is at this point, when the least sophisticated investors have just managed to scrape some money together to get in on the action, that there is no one left who is looking to buy in. At this point, supply starts to outpace demand, and prices begin to fall.

As soon as the this happens, all the speculators begin to panic and sell out immediately, since their decision to buy had no relation to the underlying fundamentals of the asset. No one is left waiting on the outside too buy in on the next price correction, so prices continue to decline. This leads to an incredible reduction in prices, leaving the common investors, those last to enter the fray and last to find out that the party is over, with empty retirement accounts and a wealth of newfound knowledge.

Past Bubbles

Perhaps the most notorious bubble occurred for tulips in 17th-century Holland, and has since been coined “tulip mania”. Tulips were brought from Turkey into Holland in the late 16th century, and the novelty of this new flower made it very sought after, driving up the price. This attracted more buyers, raising the price again and again until inevitably the priced collapsed. The price fell from around $60 to ten cents, and overnight the savings of thousands of people were completely wiped out.

While the idea that tulips could be purchased for investment purposes at any price is particularly absurd, in truth, no asset is a good investment at any price. The most recent bubbles have occurred in industries which truly had a phenomenal potential for growth, yet even so, this potential for growth was still only finite. The valuations placed on the companies in these industries were priced as if they were guaranteed to grow hundreds of times over in the immediate future. Inevitably reality would sink in, and even if a given company was still poised to increase its earnings 10x over the next few years, it would see its stock price crumble.

The best example of this is the intertnet bubble, the Nasdaq declined by 75% from 2000–2002. Speculation that internet the would fundamentally change the way the world operated caused buyers to believe that no price was too high to pay for interenet stocks. Companies who added “tech” or “internet” to their name saw their share price increase astronomically within a matter of days. IPO’s for new tech companies were a near-daily occurrence, and investors would throw their money at these companies with little to no due diligence. While investors were right about the fact that the internet would change the world and dominate the lives of millions of people, many of these companies didn’t make last more than a handful of years, and it took 20 years for the Nasdaq stock index to surpass its 2000 peak.

This is where the true danger lies, not in industries with have little prospect for legitimate growth, but in industries with awesome potential.

Today’s Bubbles

CryptoCurrencies

Cryptocurrencies have the potential to completely revolutionize the global financial system. They have the potential to circumvent central banks, allow for the expedient transfer of money across borders, and potenitally lower fees, among a barrage of other potential uses. The blockchain technology that enables them to function has revolutionary potential in its own right. While some may doubt the validity of cryptocurrencies, there are very few in the know who scoff at the potential of blockchain technology.

All of this potential for growth has caused the price of the most predominate cryptocurrency, bitcoin, to increase fifteen-fold over the course of 2017. Other cryptocurrencies have experienced a similar rise. Reminiscent of the tech bubble in the early 2000’s, companies have seen their share prices increase several times over simply because they added some variant of blockchain or cryptocurrency to their name. New coins are being launched, known as an initial coin offering (ICO), and the prices of such coins often skyrocket upon their launch due to massive amounts of promotion only to crash back down shortly thereafter.

One problem with cryptocurrencies is that there is no standard method for valuing them. They produce no earings and they give holders claim to no assets. Any intrinsic value for cryptocurrencies stems from the natural demand for them in order to complete transactions.

Alas, the increase in price over 2017 has not come as a result of an increased likelihood that Bitcoin will be used for transactions across the world, i.e due to a growing acceptance as a store of value and medium of exchange. Instead, it is the of a result of a speculative bubble. As with previous market bubbles, this situation is unlikely to end well, and it will be those who can afford to lose the least who will suffer the most.

Marijuana?

The underground market for marijuana in North America is likely in the billions. With Canada expected to legalize the substance sometime in July 2018, and many States having already gone ahead with legalization, cannabis stock have risen through the roof. Companies with negative earnings are being given billion dollar plus valuations based primarily on speculation.

While some companies are sure to dominate this industry and warrant their sky high valuations, just as a few select internet stocks did in the past, the vast majority of them will likely fall short. Even those which are ultimatley successul will take a long time to realize the level of earnings which justifies their current valuation and may well become more affordable before that time arrives.

Unlike cryptocurrencies such as Bitcoin, there is less reason to believe that marijuana stocks are in bubble territory. In fact, whether they will ever get to that level is also uncertain, but it is a fair statement to say that the majority of these companies should be classified as highly speculative given their current valuations.

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The post Bitcoin Magazine yBitcoin The Future of Money History of Bitcoin Vol 2 Issue 2 appeared first on Digital Money Times.

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick!

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

I appreciate all my loyal followers! For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/JfkWfUy(join the group to reach me directly and see posts early!). If the title is a foreign language to you read my Cryto-101 post and let’s go from there: https://redd.it/7m48ne Remember in trading minutes matter, hours are eternities.

We are only on day 3 of the KuCoin picks and yesterday’s is already up 50–70% depending on when you got in. DRGN is the brainchild of Disney, until the coin is traded on Binance and Bittrex I see it continuing to appreciate in value. However, that was yesterday’s pick! (Day 2 Pick: DRGN).

2 days ago the pick was KCS, also up 15%. As we all cumulatively trade more on KuCoin inherently the value of the underlying exchanges coin, the KCS, will appreciate. More traders, more volume, more daily picks, make it clear the KuCoin exchange will only continue to get more popular (Day 1 Pick: KCS).

Moon Shot Pick 3 on KuCoin: BNTY Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M

Ahhh here we are on day 3 after a successful day 1 and 2. Although we haven’t “mooned” we have made some serious % returns. Even with other alts crashing and BTC going sideways. I expect DRGN to truly moon when it hits new exchanges and once Disney starts advertising it. However, that was yesterday. Today the pick is BNTY!

BNTY is a pretty amazing coin. They are digital Bounty Hunters (I’m serious) and it’s ingenious! They put out bounties associated with accomplishing tasks on the internet, specific tasks, locating hackers, think Dog the Bounty Hunter for the internet domain. With a total market cap of $18million and KuCoin being the biggest exchange that trades it, BNTY has significant room for appreciation. They already have a bounty out for a recent hack and for an ICO to be launched months ago and to have a functioning platform this early is very impressive.

I think BNTY can easily hit a market cap of $30million prior to hitting exchanges like Binance and Bittrex. Once it hits these bigger exchanges I would expect it to slowly approach a market cap of $100million (over the course of 4 months). That will be a 600% return if BNTY reaches a market cap of $100million while you are holding it. This type of appreciation is standard for a “mature” ICO after the course of 4–6 months. BNTY seems to have a bright future creating “bounties” for a broad range of online tasks while also only being listed on extremely small exchanges. This provides us the opportunity to scoop up underpriced shares before BNTY hits large exchanges! December 29th, 72hrs ago the market cap was almost 100% higher than it is now. BNTY can move 100% every few days. I’d get in now that it is 50% down from 3 days ago and is projected to hit other exchanges this month. Moon.

BNTY, DRGN and KCS are my favorites for KuCoin. KCS as KuCoin becomes larger as an exchange, DRGN due to it being the brainchild of Disney, and BNTY because of its ingenious program. I am involved in all 3. Make sure to use my link! https://www.kucoin.com/#/?r=1cH1M

One of my favorite ICOs of the year finished (Covesting), within 2 days of providing you guys the opportunity to get involved. However, due to 100s of emails looking for a new ICO I spent my Saturday night researching them.

STORIQA: I found the “Amazon of crypto marketplaces”: STORIQA. It has the most impressive advisors I’ve seen in a long time! This is key for early adoption among the community and when planning the likelihood of being chosen for a high caliber exchange. The price point is at $.005 per coin (price goes up soon), so at a 1 penny price point, ICO investors make 100% returns. 2 pennies mean you make a 300% return. I see Storiqa being priced between 2 and 5 pennies by the time it hits exchanges, based on the platform and advisors. If there is early adoption of their web platform (Amazon for crypto purchases) $1 would not be out of question in 6–12 months. That would be a 200x profit. ICOs are the chance for real moon opportunities prior to the general public being able to trade the coin, or really know about the technology. Get in early while you still have a 20% bonus, the hard cap will be reached soon! If interested in purchasing this ICO please use my link: https://tokensale.storiqa.com/?ref=6663944dff31989391d803ce-

Crypterium — The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The ICO is also ending very soon! The bonus period ends in 1 day so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/ref=4a5381543424516aa2b4e3a6

So if you are a daily follower you know my current favorite Buy and Holds…Some of this information has been stated previously.

Lowest Risk, Favorite Play: STRAT (info below)

IGNIS, the future value of the NXT airdropped token spiked to over $20 per coin yesterday. Today it is hovering around $12 but at a price point of $10, each NXT holder will have made 300–400%. Let’s hope IGNIS maintains a strong future price moving forward. With the new ARDR network I see IGNIS being worth much more than expected, $17 may be a bit high, but $10 is still a 400% gain in very minimal time.

ADX, is a favorite of mine for multiple reasons. They have yet to appreciate significantly following the second fork yesterday morning (while most alts have recovered 20+%). They have a profitable platform already for coin holders. This is essential for every coin. Without a platform for a functioning coin, the coin is just unique code using up electricity. ADX advertised space on EasyJet boarding passes successfully last month and now is selling over 1 million more advertising spaces. This is a profitable coin with a strong future already occurring. Did I mention they have news coming out this week, right after the 2nd fork. If I were to bet, I’d say a good amount of the BTC $$ will flow toward alts with upcoming news. ADX will have a port to NEO by the end of the month, also very important news. ADX wins because NEO wins, Asian markets enjoy trading even more than the U.S. currently, their favorites will be flooded with their BTC funds ADX and NEO are big favorites of mine for the week(ICX too). ADX can be traded on Binance.

NEO, has meetups in Dublin, Hamburg, Amsterdam, and London the first two weeks of January. The exposure immediately following the 2nd fork when funds are freed up from BTC will be important and NEO is hosting the largest event of the week in one of the biggest blockchain cities in the world, immediately following the 2nd fork. Want to guess where the Asian market is going to put their profit from BTC this last week? Everyone sees the upcoming calendar and realizes the next 2 months will provide more exposure than any 12-month period in crypto history. The King shall have a Crypto Kingdom . NEO is the latest addition to the buy and HOLD list with some of your BURST proceeds!

PAY, Although their Christmas news was underwhelming they are having their worldwide card rollout January 1st. I believe they have a strong platform and an upcoming rollout which is why they should directly benefit from funds being transferred from BTC back to alts. This is a very important coin to watch circa Jan 1st.

ENJ, By January 1st, they are coming out with a Minecraft Plugin and Digital Wallet for your phone. The coin is a token designed specifically for gaming with a Minecraft Plugin and Digital Wallet being completed this week. They are also running a promotion giving away free ENJ on the Minecraft platform to get users involved. What could be a better boost to your coin value than a working Minecraft Plugin and a brand new wallet? ENJ I expect big things from you this week. The fork and news this week should diver a lot of $$ from BTC to alts like ENJ specifically. Check out their twitter regarding the new wallet and Minecraft release: https://twitter.com/enjin?lang=en XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 10 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). XVG has added servers every day for the last 3 in anticipation of how big Wraith will be. A coin would not be prepping like this if it was the disaster rumor that spread like wildfire causing a 50% price decline in 1 hour, 2 days ago. By the time you are reading this post it may unfortunately be too late. There is speculation Wraith may be released in the morning. XVG has promised WRAITH will be released by the end of this year, it should hit $.50-$1 range when it does. Wraith allows the individual user to determine if they want their balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. Verge lets each user determine whether to be, public or private, this will revolutionize blockchian and altcoins. The freedom to choose is where the value exists. Choice, freedom, they are priceless, even on the blockchain. If you want to see the impressive link for the Wraith ad here it is: https://youtu.be/dMrk6rozbJg

ICX, had a very solid day recovering from poor mainnet news. The Koreans love this little coin so much it is hosting its first blockchain conference in the tallest building in Seoul next month. ICX was supposed to have their mainnet launch this week but in a cleverly written post, delayed it 3 weeks but announced in doing so they would hold a huge blockchain conference, in the tallest building in Seoul, on January 25th. This will be enormous exposure for a coin which Koreans are already in love with. Although the delay was not preferable in my opinion it does clearly show their ambition in hosting a significant conference and releasing the mainnet simultaneously. Following the fork I believe many Koreans will decide to buy back into their favorite alt.

STRAT is going to have an amazing week (it already has!). They promised that by January, “I can confirm they will be able to host ICO’s on our blockchain agnostic platform this year.” STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. Would anyone like to know the going rate of an ICO? 20–40BTC. Per ICO these small companies and their coin holders are making $250k-$600k at the current BTC prices. This is a very big business. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network in January. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT.

ARDR’s platform launches Jan 1st. Ardor’s blockchain becomes fully operational Jan 1st., and the Genesis snapshot is announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. With a new platform and coins to be used on it this will be a positive week for ARDR with exceptionally high returns correlated with the new platform and IGNIS’s continued appreciation.

XEM has been quiet but is about to make a lot of noise. Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Following Catapult is a 4-week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network. XEM will have a pop this week when Catapult goes live, followed by a 4-week awareness rally driven by a worldwide hackathon. I expect significant $ to flow into XEM with the hackathon exposure immediately following the 2nd fork, especially with Catapult launching.

Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 3 address to help provide my girlfriend with presents so I can spend more time researching! What is 5% of the 200% I earned you this week? (NXT, XVG, MCO, PAY, EMC2, STRAT, ICX, BURST)

ETH: Address: 0x955A1a68613C028Ea98b0b5dcC58901897EB90DB LTC Address: LSnEW1h1bZwFH67s9tXZVX2GCZHNmzFGVN BTC address: 1GKPSkohnt9pSgBnXRmn2SejQNPWD96qif

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick!

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

January 1st, Happy New Year Picks: KuCoin’s 3nd Pick! NEW ICO (Listed Below), KCS, DRGN, ADX (NEO link), ENJ(Wallet), NEO, PAY, ICX, XVG, STRAT, XEM, ARDR, IGNIS Future’s Price

I appreciate all my loyal followers! For tips and strategy hours before being posted to the message boards follow on Reddit, Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/JfkWfUy(join the group to reach me directly and see posts early!). If the title is a foreign language to you read my Cryto-101 post and let’s go from there: https://redd.it/7m48ne Remember in trading minutes matter, hours are eternities.

We are only on day 3 of the KuCoin picks and yesterday’s is already up 50–70% depending on when you got in. DRGN is the brainchild of Disney, until the coin is traded on Binance and Bittrex I see it continuing to appreciate in value. However, that was yesterday’s pick! (Day 2 Pick: DRGN).

2 days ago the pick was KCS, also up 15%. As we all cumulatively trade more on KuCoin inherently the value of the underlying exchanges coin, the KCS, will appreciate. More traders, more volume, more daily picks, make it clear the KuCoin exchange will only continue to get more popular (Day 1 Pick: KCS).

Moon Shot Pick 3 on KuCoin: BNTY Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M

Ahhh here we are on day 3 after a successful day 1 and 2. Although we haven’t “mooned” we have made some serious % returns. Even with other alts crashing and BTC going sideways. I expect DRGN to truly moon when it hits new exchanges and once Disney starts advertising it. However, that was yesterday. Today the pick is BNTY!

BNTY is a pretty amazing coin. They are digital Bounty Hunters (I’m serious) and it’s ingenious! They put out bounties associated with accomplishing tasks on the internet, specific tasks, locating hackers, think Dog the Bounty Hunter for the internet domain. With a total market cap of $18million and KuCoin being the biggest exchange that trades it, BNTY has significant room for appreciation. They already have a bounty out for a recent hack and for an ICO to be launched months ago and to have a functioning platform this early is very impressive.

I think BNTY can easily hit a market cap of $30million prior to hitting exchanges like Binance and Bittrex. Once it hits these bigger exchanges I would expect it to slowly approach a market cap of $100million (over the course of 4 months). That will be a 600% return if BNTY reaches a market cap of $100million while you are holding it. This type of appreciation is standard for a “mature” ICO after the course of 4–6 months. BNTY seems to have a bright future creating “bounties” for a broad range of online tasks while also only being listed on extremely small exchanges. This provides us the opportunity to scoop up underpriced shares before BNTY hits large exchanges! December 29th, 72hrs ago the market cap was almost 100% higher than it is now. BNTY can move 100% every few days. I’d get in now that it is 50% down from 3 days ago and is projected to hit other exchanges this month. Moon.

BNTY, DRGN and KCS are my favorites for KuCoin. KCS as KuCoin becomes larger as an exchange, DRGN due to it being the brainchild of Disney, and BNTY because of its ingenious program. I am involved in all 3. Make sure to use my link! https://www.kucoin.com/#/?r=1cH1M

One of my favorite ICOs of the year finished (Covesting), within 2 days of providing you guys the opportunity to get involved. However, due to 100s of emails looking for a new ICO I spent my Saturday night researching them.

STORIQA: I found the “Amazon of crypto marketplaces”: STORIQA. It has the most impressive advisors I’ve seen in a long time! This is key for early adoption among the community and when planning the likelihood of being chosen for a high caliber exchange. The price point is at $.005 per coin (price goes up soon), so at a 1 penny price point, ICO investors make 100% returns. 2 pennies mean you make a 300% return. I see Storiqa being priced between 2 and 5 pennies by the time it hits exchanges, based on the platform and advisors. If there is early adoption of their web platform (Amazon for crypto purchases) $1 would not be out of question in 6–12 months. That would be a 200x profit. ICOs are the chance for real moon opportunities prior to the general public being able to trade the coin, or really know about the technology. Get in early while you still have a 20% bonus, the hard cap will be reached soon! If interested in purchasing this ICO please use my link: https://tokensale.storiqa.com/?ref=6663944dff31989391d803ce-

Crypterium — The team is unreal and they are presenting at the Dubai Blockchain Intl’ in January. The ICO is also ending very soon! The bonus period ends in 1 day so I highly recommend getting an ether or 2 involved in this. The Dubai Blockchain Intl’ will greatly increase the number of individuals interested in holding Crypterium, (I make $0 off my posts and extensive research if you do purchase the ICOs please use my referral link): https://tokensale.crypterium.io/ref=4a5381543424516aa2b4e3a6

So if you are a daily follower you know my current favorite Buy and Holds…Some of this information has been stated previously.

Lowest Risk, Favorite Play: STRAT (info below)

IGNIS, the future value of the NXT airdropped token spiked to over $20 per coin yesterday. Today it is hovering around $12 but at a price point of $10, each NXT holder will have made 300–400%. Let’s hope IGNIS maintains a strong future price moving forward. With the new ARDR network I see IGNIS being worth much more than expected, $17 may be a bit high, but $10 is still a 400% gain in very minimal time.

ADX, is a favorite of mine for multiple reasons. They have yet to appreciate significantly following the second fork yesterday morning (while most alts have recovered 20+%). They have a profitable platform already for coin holders. This is essential for every coin. Without a platform for a functioning coin, the coin is just unique code using up electricity. ADX advertised space on EasyJet boarding passes successfully last month and now is selling over 1 million more advertising spaces. This is a profitable coin with a strong future already occurring. Did I mention they have news coming out this week, right after the 2nd fork. If I were to bet, I’d say a good amount of the BTC $$ will flow toward alts with upcoming news. ADX will have a port to NEO by the end of the month, also very important news. ADX wins because NEO wins, Asian markets enjoy trading even more than the U.S. currently, their favorites will be flooded with their BTC funds ADX and NEO are big favorites of mine for the week(ICX too). ADX can be traded on Binance.

NEO, has meetups in Dublin, Hamburg, Amsterdam, and London the first two weeks of January. The exposure immediately following the 2nd fork when funds are freed up from BTC will be important and NEO is hosting the largest event of the week in one of the biggest blockchain cities in the world, immediately following the 2nd fork. Want to guess where the Asian market is going to put their profit from BTC this last week? Everyone sees the upcoming calendar and realizes the next 2 months will provide more exposure than any 12-month period in crypto history. The King shall have a Crypto Kingdom . NEO is the latest addition to the buy and HOLD list with some of your BURST proceeds!

PAY, Although their Christmas news was underwhelming they are having their worldwide card rollout January 1st. I believe they have a strong platform and an upcoming rollout which is why they should directly benefit from funds being transferred from BTC back to alts. This is a very important coin to watch circa Jan 1st.

ENJ, By January 1st, they are coming out with a Minecraft Plugin and Digital Wallet for your phone. The coin is a token designed specifically for gaming with a Minecraft Plugin and Digital Wallet being completed this week. They are also running a promotion giving away free ENJ on the Minecraft platform to get users involved. What could be a better boost to your coin value than a working Minecraft Plugin and a brand new wallet? ENJ I expect big things from you this week. The fork and news this week should diver a lot of $$ from BTC to alts like ENJ specifically. Check out their twitter regarding the new wallet and Minecraft release: https://twitter.com/enjin?lang=en XVG, VERGE WRAITH PROTCOL (XVG promises this to come out by end of year, plus a very impressive ad came out 10 days ago so I doubt they miss their deadline) anonymity with the flick of a button (public and private ledges in one block chain). XVG has added servers every day for the last 3 in anticipation of how big Wraith will be. A coin would not be prepping like this if it was the disaster rumor that spread like wildfire causing a 50% price decline in 1 hour, 2 days ago. By the time you are reading this post it may unfortunately be too late. There is speculation Wraith may be released in the morning. XVG has promised WRAITH will be released by the end of this year, it should hit $.50-$1 range when it does. Wraith allows the individual user to determine if they want their balance visible on the block chain or not. Right now we have coins like Monero which are completely anonymous hence their use on the dark web, or ones that are completely public where anyone who knows your wallet address can check your balance. Verge lets each user determine whether to be, public or private, this will revolutionize blockchian and altcoins. The freedom to choose is where the value exists. Choice, freedom, they are priceless, even on the blockchain. If you want to see the impressive link for the Wraith ad here it is: https://youtu.be/dMrk6rozbJg

ICX, had a very solid day recovering from poor mainnet news. The Koreans love this little coin so much it is hosting its first blockchain conference in the tallest building in Seoul next month. ICX was supposed to have their mainnet launch this week but in a cleverly written post, delayed it 3 weeks but announced in doing so they would hold a huge blockchain conference, in the tallest building in Seoul, on January 25th. This will be enormous exposure for a coin which Koreans are already in love with. Although the delay was not preferable in my opinion it does clearly show their ambition in hosting a significant conference and releasing the mainnet simultaneously. Following the fork I believe many Koreans will decide to buy back into their favorite alt.

STRAT is going to have an amazing week (it already has!). They promised that by January, “I can confirm they will be able to host ICO’s on our blockchain agnostic platform this year.” STRAT is on the cusp of being able to host ICO’s for other companies. This is extremely valuable technology and they’ve announced it will be ready to go this week. Would anyone like to know the going rate of an ICO? 20–40BTC. Per ICO these small companies and their coin holders are making $250k-$600k at the current BTC prices. This is a very big business. They’ve also announced 2 Flagship ICOs that will be available on their STRATIS network in January. The platform to host ICOs goes live this week, and within 2 weeks we find out which ICOs STRAT is hosting. This should be a very positive 2 weeks for STRAT.

ARDR’s platform launches Jan 1st. Ardor’s blockchain becomes fully operational Jan 1st., and the Genesis snapshot is announced 1 week in advance. Not to mention all those NXT you’ve been holding for the free IGNIS are used specifically on the ARDR block chain. With a new platform and coins to be used on it this will be a positive week for ARDR with exceptionally high returns correlated with the new platform and IGNIS’s continued appreciation.

XEM has been quiet but is about to make a lot of noise. Catapult, which is version 2.0 of NEM (is to be released by the end of the year). Following Catapult is a 4-week hackathon beginning in January. There is nothing better to build awareness and test out their new Catapult network they’ll be releasing this week, then a worldwide hackathon and a new update to their NEM network. XEM will have a pop this week when Catapult goes live, followed by a 4-week awareness rally driven by a worldwide hackathon. I expect significant $ to flow into XEM with the hackathon exposure immediately following the 2nd fork, especially with Catapult launching.

Some Lovely Followers Requested I Provide Addresses for “Thank You’s and Holiday Cheer” Here are 3 address to help provide my girlfriend with presents so I can spend more time researching! What is 5% of the 200% I earned you this week? (NXT, XVG, MCO, PAY, EMC2, STRAT, ICX, BURST)

ETH: Address: 0x955A1a68613C028Ea98b0b5dcC58901897EB90DB LTC Address: LSnEW1h1bZwFH67s9tXZVX2GCZHNmzFGVN BTC address: 1GKPSkohnt9pSgBnXRmn2SejQNPWD96qif

Arcona — suatu sistem platform yang menyediakan intergeritas hubungan dunia nyata dan maya dalam…

Arcona — suatu sistem platform yang menyediakan intergeritas hubungan dunia nyata dan maya dalam satu ekosistem tunggal.

Menjadi pemilik Digital Land baru. Sebuah ekosistem bertenaga blockchain akan mempertemukan dunia nyata dan dunia maya dan menciptakan lapisan realitas besar yang merupakan Tanah Digital.

fitur

Fitur utamanya meliputi:

• Remote Setup — Arcona akan membiarkan semua orang mengembangkan proyek virtual di manapun di dunia maya ini dan mereka tidak perlu meninggalkan kursi favorit mereka. Mereka bisa memilih tempat yang paling populer dan paling banyak dikunjungi dan bisa menciptakan dunia mereka sendiri semua di atas Digital Land.

• Bangun dan Perdagangan — Pasar dunia akan terbuka bagi ekosistem Arcona. Mereka akan bisa membeli, menjual, dan menyewakan bagian dari Digital Land. Menghasilkan uang dengan menciptakan dan menjual konten yang telah mereka hasilkan dengan lebih baik dan lebih luar biasa.

• Perlindungan properti — Kontrak Smart pada blockchain menjamin perlindungan hak kepemilikan dan hak cipta. Sistem ini secara otomatis akan mengirim pembayaran royalti kepada pencipta konten dan menyewakan kepada pemilik aset digital.

Aset utama

Aset utama ekosistem Arcona ini adalah Digital Land, yang dibangun berdasarkan nilai blockchain. Undang-undang penggunaan tanah akan ditentukan dalam kontrak Ethereal. Siapa pun akan dapat membeli banyak barang mereka sendiri sebagai ganti token standar ERC20 — Arcona.

Mereka memerintah

Dan saat itu tanah mereka — itu peraturan mereka. Setiap banyak Digital Land dihubungkan dengan lokasi yang pasti di dunia fisik. Inilah tempat dimana pemilik akan menarik lebih banyak orang untuk berbagi dengan mereka hasil dari semua pekerjaan.


ARCONA AUGMENTED REALITY ECOSYSTEM

Arcona akan memanfaatkannya dari menarik lalu lintas, terutama berkat para pelancong di seluruh dunia yang datang dan mencoba Digital Land. Apa itu negara digital? Menurut Arconi, “Digital Earth” adalah lapisan realitas Enhanced yang menghubungkan dunia fisik dan maya ke lingkungan informasi yang sangat terkait dengan dunia nyata kita. Dirancang untuk pengalaman interaktif pengguna sehari-hari dengan beberapa konten multimedia tentang hal-hal maya dan campuran di lokasi dunia nyata.

Lalu mengapa tidak melihat Arcona?

> Pariwisata dan perjalanan adalah industri global yang besar

Pariwisata dan perjalanan (termasuk akomodasi, layanan makanan dan minuman, layanan transportasi penumpang, penyewaan mobil, agen perjalanan dan olahraga, layanan rekreasi dan konferensi), tingkat pekerjaan dan efek industri pariwisata, jumlah pengunjung dan jumlah pengeluaran.

Kontribusi total produk domestik bruto (PDB) terhadap pariwisata dan perjalanan (termasuk dampak investasi, rantai pasokan dan dampak pendapatan yang lebih luas) mencapai $ 7.613,3 miliar pada tahun 2016 (10,2% dari PDB) dan diperkirakan akan meningkat sebesar 3,6. diproyeksikan meningkat dari 3,9% per tahun (per tahun) menjadi 11,512,9 miliar USD pada tahun 2027 (11,4% dari PDB).

Uang oleh pengunjung asing ke negara (atau ekspor pengunjung) adalah komponen utama kontribusi langsung Travel & Tourism. Pada 2016, dunia menghasilkan $ 1.401,5 miliar untuk ekspor pengunjung. Diperkirakan akan meningkat 4,5% pada 2017, dan diharapkan dunia akan menarik 1.290.780.000 turis mancanegara. Pada 2027, wisatawan internasional akan tiba di jumlah 2.042.420.000, yang akan menelan biaya 2,321,0 miliar dolar, meningkat 4,3% per tahun.

Dalam pernyataan konservatif, jika negara digital Anda hanya mencatat 1% kontribusi pariwisata dan perjalanan pada tahun 2027, yaitu $ 115,13 (11,512,9 B x 1%). Besarnya diharapkan keuntungan dan akan terus bertambah.

> Produk berkualitas tinggi

Ini adalah fitur dasar dasar Arcona, yang mencakup hal berikut:

Rincian ICO

• Total token yang akan dikeluarkan: 100.000.000
• Token type: ERC20
• Base pricing: 1 Token sama dengan 1 USD
• Hard Cap: $ 35M
• ICO awal: 27 November 201
• Tanggal akhir ICO: 27 Desember 2017
• Tidak ada token yang dikeluarkan setelah ICO

Tujuan untuk 2018

Triwulan 1 — Kuartal ini akan melihat peluncuran pasar dan unit akun Arcona, dan kit pengembangan akan dijual. Lelang penjualan tanah untuk pemegang token akan dimulai.

Triwulan 2 — Peluncuran prototip AR viewer dan aplikasi dengan bonus untuk pengintai dan penguji.

3rd Quarter — Peluncuran prototipe teknis untuk alat AR Grid dan remote positioning untuk platform mobile.

4th Quarter — Peluncuran AR Viewer dan memulai sebuah program untuk menarik minat pengguna dengan tugas lapangan untuk mendapatkan token Arcona

Token Arcona

Token Arcona sama dengan biaya aset digital dan merupakan mata uang internet universal untuk ekosistem Arcona. Token ini akan digunakan untuk pembelian semua barang dan jasa digital di dalam ekosistem. Token Arcona ini akan memastikan infrastruktur yang dibutuhkan untuk membangun lapisan digital baru di ruang nyata akan dilakukan. Ini akan memungkinkan ekosistem ini menduplikat dirinya sendiri dan dipenuhi dengan bermacam-macam konten. Semua pemegang token Arcona akan bisa mensubsidi pembentukan ekosistem. Mereka akan diberi atau menawarkan peluang untuk mendapatkan pembayaran dalam token untuk:

• Tugas akhir
• Mengembangkan blok dan konten perangkat lunak
• Menguji sistem

Peringatan

Tanggal mulai ICO: 27 November 2017

Silakan kunjungi Situs Arcona untuk informasi lebih lanjut: https://www.arcona.io/

Penulis:Samcun

Bitcointalk saya:https://bitcointalk.org/index.php?action=profile;u=1316188

ETH:0x7fDf4D7a476934e348FC1C9efa912F3D7C07a80A

Arcona — suatu sistem platform yang menyediakan intergeritas hubungan dunia nyata dan maya dalam…

Arcona — suatu sistem platform yang menyediakan intergeritas hubungan dunia nyata dan maya dalam satu ekosistem tunggal.

Menjadi pemilik Digital Land baru. Sebuah ekosistem bertenaga blockchain akan mempertemukan dunia nyata dan dunia maya dan menciptakan lapisan realitas besar yang merupakan Tanah Digital.

fitur

Fitur utamanya meliputi:

• Remote Setup — Arcona akan membiarkan semua orang mengembangkan proyek virtual di manapun di dunia maya ini dan mereka tidak perlu meninggalkan kursi favorit mereka. Mereka bisa memilih tempat yang paling populer dan paling banyak dikunjungi dan bisa menciptakan dunia mereka sendiri semua di atas Digital Land.

• Bangun dan Perdagangan — Pasar dunia akan terbuka bagi ekosistem Arcona. Mereka akan bisa membeli, menjual, dan menyewakan bagian dari Digital Land. Menghasilkan uang dengan menciptakan dan menjual konten yang telah mereka hasilkan dengan lebih baik dan lebih luar biasa.

• Perlindungan properti — Kontrak Smart pada blockchain menjamin perlindungan hak kepemilikan dan hak cipta. Sistem ini secara otomatis akan mengirim pembayaran royalti kepada pencipta konten dan menyewakan kepada pemilik aset digital.

Aset utama

Aset utama ekosistem Arcona ini adalah Digital Land, yang dibangun berdasarkan nilai blockchain. Undang-undang penggunaan tanah akan ditentukan dalam kontrak Ethereal. Siapa pun akan dapat membeli banyak barang mereka sendiri sebagai ganti token standar ERC20 — Arcona.

Mereka memerintah

Dan saat itu tanah mereka — itu peraturan mereka. Setiap banyak Digital Land dihubungkan dengan lokasi yang pasti di dunia fisik. Inilah tempat dimana pemilik akan menarik lebih banyak orang untuk berbagi dengan mereka hasil dari semua pekerjaan.


ARCONA AUGMENTED REALITY ECOSYSTEM

Arcona akan memanfaatkannya dari menarik lalu lintas, terutama berkat para pelancong di seluruh dunia yang datang dan mencoba Digital Land. Apa itu negara digital? Menurut Arconi, “Digital Earth” adalah lapisan realitas Enhanced yang menghubungkan dunia fisik dan maya ke lingkungan informasi yang sangat terkait dengan dunia nyata kita. Dirancang untuk pengalaman interaktif pengguna sehari-hari dengan beberapa konten multimedia tentang hal-hal maya dan campuran di lokasi dunia nyata.

Lalu mengapa tidak melihat Arcona?

> Pariwisata dan perjalanan adalah industri global yang besar

Pariwisata dan perjalanan (termasuk akomodasi, layanan makanan dan minuman, layanan transportasi penumpang, penyewaan mobil, agen perjalanan dan olahraga, layanan rekreasi dan konferensi), tingkat pekerjaan dan efek industri pariwisata, jumlah pengunjung dan jumlah pengeluaran.

Kontribusi total produk domestik bruto (PDB) terhadap pariwisata dan perjalanan (termasuk dampak investasi, rantai pasokan dan dampak pendapatan yang lebih luas) mencapai $ 7.613,3 miliar pada tahun 2016 (10,2% dari PDB) dan diperkirakan akan meningkat sebesar 3,6. diproyeksikan meningkat dari 3,9% per tahun (per tahun) menjadi 11,512,9 miliar USD pada tahun 2027 (11,4% dari PDB).

Uang oleh pengunjung asing ke negara (atau ekspor pengunjung) adalah komponen utama kontribusi langsung Travel & Tourism. Pada 2016, dunia menghasilkan $ 1.401,5 miliar untuk ekspor pengunjung. Diperkirakan akan meningkat 4,5% pada 2017, dan diharapkan dunia akan menarik 1.290.780.000 turis mancanegara. Pada 2027, wisatawan internasional akan tiba di jumlah 2.042.420.000, yang akan menelan biaya 2,321,0 miliar dolar, meningkat 4,3% per tahun.

Dalam pernyataan konservatif, jika negara digital Anda hanya mencatat 1% kontribusi pariwisata dan perjalanan pada tahun 2027, yaitu $ 115,13 (11,512,9 B x 1%). Besarnya diharapkan keuntungan dan akan terus bertambah.

> Produk berkualitas tinggi

Ini adalah fitur dasar dasar Arcona, yang mencakup hal berikut:

Rincian ICO

• Total token yang akan dikeluarkan: 100.000.000
• Token type: ERC20
• Base pricing: 1 Token sama dengan 1 USD
• Hard Cap: $ 35M
• ICO awal: 27 November 201
• Tanggal akhir ICO: 27 Desember 2017
• Tidak ada token yang dikeluarkan setelah ICO

Tujuan untuk 2018

Triwulan 1 — Kuartal ini akan melihat peluncuran pasar dan unit akun Arcona, dan kit pengembangan akan dijual. Lelang penjualan tanah untuk pemegang token akan dimulai.

Triwulan 2 — Peluncuran prototip AR viewer dan aplikasi dengan bonus untuk pengintai dan penguji.

3rd Quarter — Peluncuran prototipe teknis untuk alat AR Grid dan remote positioning untuk platform mobile.

4th Quarter — Peluncuran AR Viewer dan memulai sebuah program untuk menarik minat pengguna dengan tugas lapangan untuk mendapatkan token Arcona

Token Arcona

Token Arcona sama dengan biaya aset digital dan merupakan mata uang internet universal untuk ekosistem Arcona. Token ini akan digunakan untuk pembelian semua barang dan jasa digital di dalam ekosistem. Token Arcona ini akan memastikan infrastruktur yang dibutuhkan untuk membangun lapisan digital baru di ruang nyata akan dilakukan. Ini akan memungkinkan ekosistem ini menduplikat dirinya sendiri dan dipenuhi dengan bermacam-macam konten. Semua pemegang token Arcona akan bisa mensubsidi pembentukan ekosistem. Mereka akan diberi atau menawarkan peluang untuk mendapatkan pembayaran dalam token untuk:

• Tugas akhir
• Mengembangkan blok dan konten perangkat lunak
• Menguji sistem

Peringatan

Tanggal mulai ICO: 27 November 2017

Silakan kunjungi Situs Arcona untuk informasi lebih lanjut: https://www.arcona.io/

Penulis:Samcun

Bitcointalk saya:https://bitcointalk.org/index.php?action=profile;u=1316188

ETH:0x7fDf4D7a476934e348FC1C9efa912F3D7C07a80A

Best Money Management Method

. Simplest & Easiest Guideline To Follow

Before we even begin If You Have an IPhone I would Download these 4 apps. If you would not like to, or your phone does not have these apps then Buy a Notebook or have a Notepad app in your phone.

  • Acorns (Self Investment Savings Account)
  • Money Box (Saving Goal App)
  • Fudget (Money budgeting app)
  • Daily Budget (Controls how much you spend Daily)

Now The Money Management Method is Called “PISEGS”

Which Stands for…..

  • Priorities
  • Investment
  • Savings
  • Emergency = Give
  • Spending

Now 3 Parts Have a specific Percentage that is Drawn away from the total of money received on your paycheck(This Method can be applied anytime you get money borrowed or not). You may change these percentages but this is a great guideline.

The 3 Parts Are Investment, Saving, and Emergency(Giving).

  • Investment (20%)
  • Saving (10%)
  • Emergency=Giving (10%)

Now Here is how The Method Works and Works So Well.

PISEGS Is in the Order Of how you Should Pick a part your Money

1. PRIORITIES

When You receive your paycheck you should automatically think about your priorities before spending and even saving anything. This can be anything from bills to contact lenses, but be careful about labeling things that you want really bad as priorities. Priorities should be things you need to spend your money on, as in if you don’t, something bad can occur. Priorities can also be paid in portions like if your paying back student loans. Of course if your paycheck is 2000$, you don’t have to spend your whole 2000$ on the loan, you can start paying it back slowly.

Examples;

If I don’t Spend my money on the Rent, then I will not have any lights or electricity, and I can’t work on my Schoolwork, so rent is a necessity.

If my house has no food, and I don’t buy groceries for the week then I will starve, so Groceries is a necessity.

If I break my glasses and don’t pay for new ones, I won’t be able to see in class, and drive at night so glasses are a necessity.

Of course, everybody’s priorities Are different. What may affect one person may not affect the other and some people know how to handle a situation without spending a dime. At the end of the day, It’s just all about deciding if you don’t pay for something, will you be at a disadvantage?

2. Investments (20%)

This is not limited to, but investment is just growing money. If you don’t know What investing is and how it works read this article.

Beginning Stock Investor? Here’s All You Need to Know

If you know a little About investing or have already started, good for you, I’ll make this short.

Whatever is Left after you have spent your money on your priorities FIRST.

Take 20% and Invest it.

Where ?

You can start at your bank and discuss with them on opening a IRA, Savings Account, Index Fund, CD. (Accounts you can invest money and get interest back)

Or

Download an app called “Acorns”(This is like a Savings account that invest your money for you and takes some spare change)

Or

Or download “RobinHood” for Those if you who actually want to start investing. (There are also plenty of other investment apps)

Teaching you is a whole other Ballgame.

There’s Youtube videos for that champ!

Now when it comes to When To Spend the invested Money, of Course just blowing all of it after 3 months is useless. This method focuses on longevity, we want to be able to live a good life but still be 60 yrs old with 6 million in the bank. So when it comes to investing, don’t spend your savings that you made off of it until at least 1 year and at most 5 years. Here is the Scale.

You can spend 10% Of the investment money you saved up after 1 year, and put the rest back into investment

Or you can spend 20% Of the investment money you saved up after 2 years, and put the rest back into investments.

Of 30% after 3 years, 40% after 4, 50% after 5, etc.

You can pick how long you want to save just 1–5.

3. Save!(10%)

After you have gotten your check, Spent your money on your Priorities, investments and still have money left over ? Put 10% of that money into Your saving goals.

Now this is where “Moneybox” Comes in.

Once you set up your Moneybox account, think of something’s that you want to save up for during the year or within the next 6 months.

I wouldn’t go too overboard with this, in all honesty I would go with two for every year. Trying to save for so many things will cause stress and overwhelming emotions.

This can be things like a car, apartment, shopping spree, trip, college etc.

“Money Box” is a app that you can use to help reach your saving goals and track how close you are to getting what you want.

Now here is where the Trick comes in.

When you Label how much you need to save up for your 2 choices, Double it.

If you need 2000$ to save up for the car you want, put 4000.

Set your saving goals like this so when you spend that 2000 on the car, you have 2000 left to SAVE again. Now you have an extra head start 2000$ to start saving on your next goal and repeat.

So always Save Double the amount of your desire, Spend What is needed on the desire, save the other half and repeat.

If you don’t have Money box or don’t want to download it, you would simply get your notebook and write out your two goals then track money saved.

Now some people may find this skeptical but taking out cash and putting it in a safe place is the way to go with saving.

Do whatever you can to do that because you never know with Banks, and if you have it all on card, it is so hard to manage it mixed with your spending money.

I don’t care if you live in a dangerous neighborhood, get a safe.

I don’t care if you are a millionaire and can’t have 100,000$ sitting with you like that, get a Safe.(I wouldn’t even trust accountants, personal assistants & managers etc.)

Put it in a safe CLOSED space.

No not under your mattress.

Make sure it’s in something you can carry and keep for a long time.

Also if you know what dropshipping is(Selling things that you don’t physically own but have the money to buy and sell for a higher price). This money can be used for dropshipping for all my dropshippers.

4. Emergency = Give (10%)

After you have got your check, took care of priorities, investments, savings, take 10% Of the remaining money and put it towards emergency.

This is Your Emergency|Giving Space.

I would keep this where you keep your savings, but put them seperated in a way you can distinguish the two.

What is the Emergency🚨 used For ?

Anytime, you run out of Spending Money.

That’s it.

If you make the mistake of running out of your spending money, you have this left over to stretch until you get your next paycheck. If there is an emergency or crisis and you need money ASAP, this is what you use, not savings, not investments.

You have to look at Savings, and investments as somebody else’s money unless it’s time for you spend it.

Emergency is your money, it’s your savings that you can spend whenever.

What is Giving?

Giving is something that can contributed towards my more generous people.

The emergency money can also be used for people that have a sick mother and want to pay for her hospital expenses.

It can be used to Save Christmas gifts.

Church for My Christian Readers, Donating 10% To God’s Church, or any donations

Feed the Homeless etc.

This money can be used either way, it’s up to you.

5. Spend

Last but not least, the remainder of the money you are allowed to spend.

Yes, your favorite part, comes last.

You can spend this money on any wants you may have.

  • Parties|Club Money
  • Fashion(Shopping)
  • Eating Out
  • The New Iphone

Some of you do not need this part and find it unneeded. As long as you took care of priorities, put money aside to save, you are satisfied.

Some of you are upset.

You paid for your priorities, took 40% off to cover investments, savings, Emergencies, and still barely have enough to spend.

The Method is not the problem.

Obviously the money your making is not meeting the requirements of your lifestyle. Unless you are perfectly fine with the little spending money you have, getting by shouldn’t be an option.

Unsatisfied with your spending money, work hard, get promoted, get a new job, go after what you want!

Now when it comes to spending, using the emergency fund should be avoided at all costs. Spending money should last you 2 weeks worth a good time. It shouldn’t be blown in 1 day.

So here are 2 rules you can use for spending your money, pick 1.

•MA: Calculate how many days you have until your next paycheck. See how much spending money you have, then divide it by the days. This will create your daily budget number.(How much money you can spend each day until payday). If you don’t have a job, 2 Weeks or 14 Days, would be the stretching period.

P.s. The App “Daily Budget” Does This For you

If you don’t have the app, take note of it in your notebook.

MB: Spend 80%, whatever is left which is 20%, can be stretched over 2 weeks using daily Budget app or manually doing it. Or you can spend 50% and stretch 50%.

5 Parts Applied.

Fudget is an app you can use to apply PISEGS. You can count your cash(count money 3x to avoid error) or simply see how much is in your account then calculate percentages. You can then put Fudget to use by simply labeling The parts and how much money needs to be distributed. It just lets everything be organized. Just make sure you clear it out and start over every paycheck.

Now Last Part you need to understand…..

Pisegs is a Method that can be applied with any income of money. If you having difficulty, look too broke, or can’t do it, then you can leave. If your income isn’t taking care of your savings, spending, investments, like you want them to, then get more money!!! Of course easier said then done, but if you want to, you’ll make it work.

The Method is not the problem. This method will turn thousand Aires into millionaires. It will turn millionaires into billionaires and will make sure you never go broke again. It will help your kids get the opportunity to go to college you never know. It just takes discipline.

Just Remember….

  • When you run out Of Spending Money, use emergency money. When you run out of Emergency Money ? YOU ARE BROKE! No you can’t use investments or saving money until it is time to use it.
  • GO FOR LESS , Be Cheap. Do not be the guy that balls out and is clean with a nice house but in debt. Be the person who dresses average, lives in a apartment but is rich. Trust me, it is way better and less stressful.
  • Don’t overload on credit cards.
  • Lastly, Get a Coin Jar, and Save up Coins for a Rainy day or some candy. Coins are more important than you think.

Have a Great 2018, your Going to Ball out this Year as Much as Offset From Migos.

Trust me.

Venezuela is going to create its own cryptocurrency

President of Venezuela Nicolas Maduro announced the creation of a new cryptocurrency “petro”, which will be provided with commodity stocks, including oil, diamonds and gold.

Keep in touch with all the crypto news with Telegram channel & website subscription.

According to Maduro, this will allow to overcome the “financial blockade” of the country. To implement the plans, he created the Office for Venezuelan CryptoCurrency and its interaction with the world.

The opposition is skeptical towards this idea, believing that the cryptocurrency will not solve economic problems. Venezuela is in a situation of a severe economic crisis.

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In cryptocurrencies, you can’t rely on the Silverback

We had a family visit to Chessington Zoo this weekend, and for me, the most fascinating exhibit was the Western Lowland Gorillas. I’m a little uneasy about the ethics of caging animals for our entertainment but these gorillas are endangered in their natural Central African habitat and the zoo claims to participate in conservation schemes so hopefully, on balance, it’s doing more good than harm.

We watch the troop of female and young male gorillas, sifting through their straw-covered floor for sunflower seeds and chopped up celery, strewn about the enclosure by the zookeepers to elicit their natural foraging behaviours.

The Silverback sits proudly atop a fake waterfall structure, impressively huge in stature, surveying the band of primates within the enclosure, and the odd-looking primates outside the enclosure, gawping back at them with amusement.

The Silverback is the authority, the one who sorts out disputes, whom the others look to for protection. This leviathan hulk, at the top of the social dominance hierarchy, to be feared, respected and trusted.

Awareness of social dominance is part instinctual, part imprinted and partly learned. It’s an essential part of survival for gorillas in the wild, behavioural traits evolved from the harsh realities of life in the forests of Central Africa.


By Greg Hume — Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=18290838

We gaze and laugh at these funny creatures without realising how closely our own behaviours tally with theirs. We symbolise our social dominance through behaviours more subtle and refined than chest-beating. We have fancy job titles and trinkets. We have flashy cars and fashion. But as anyone who has ever worked in an office environment can testify, sometimes our behaviours are not so subtle. Instead of throwing our excrement at each other we play clever Machiavellian games, carefully dishing out praise and blame to manoeuvre our way to the top.

Like the gorillas, we need someone to trust, someone to protect us, somewhere to go when we want answers. We look up to our leviathans, our governments for protection, for decision making and for settling our spats with one another. We look up to experts when we seek the truth. We respect the men and women in suits, those with the symbols of prosperity and trust-able job titles. We listen to the voices of journalists, the experts with the answers. Above all we trust the powerful institutions of government and banks to issue us with our ‘bio-survival tickets’, our money.

The term ‘bio-survival ticket’, coined by the late Robert Anton Wilson, perfectly captures the hold that money has over us. Money is an abstract concept but it is so crucial for anyone to make any progress in this life. Our bio survival depends on it. We don’t hunt or forage, we go shopping with our government-mandated and bank-issued bio-survival tickets. These tickets to life grip our attention. We are elevated when we have more of them, anxious and depressed when we have fewer. Getting hold of these tickets is imperative to clambering our way up the social dominance hierarchy.

No wonder some people hate Bitcoin and other cryptocurrencies, we are so emotionally and physically dependent on our little tickets, that any alternative threatens our bio-survival.

Bitcoin and other cryptoassets require us to abandon the models of centralised systems and trusted authorities we’ve relied upon throughout our evolution. In this new decentralised world, we have no-one to look up to, no strong institutions to protect us, the truth is not available from a centralised powerful body. Instead, we are asked to be self -responsible, we can be our own banks, we can create and issue our own currency, we can participate in the governance of the currencies we support, we can choose to carry and use the currencies which reflect our values, which give us utility, which gives us purpose. We can participate in this open and transparent world, but we have to trust in each other, trust in the code, trust in the networks rather than our central governments and banks, we can’t run to them if things go wrong, there is no Silverback to protect us.

The mainstream adoption of cryptoassets will require a change of mindset. We’ll need to act more like a colony of ants than a band of gorillas. Central government will be less of a ‘necessary evil’ and may be seen increasingly as an ‘unnecessary evil’. When people see how currencies can be issued and used in a decentralised way, they will begin to see how other centralised functions can do the same. We’ll see the rise of the ‘Decentralised Autonomous Organisation’ in many other areas of our lives.

There is a tribe of human primates who are quite comfortable with the idea of living in a world without the protection of Siverbacks. They call themselves anarchists, libertarians, voluntarists or supporters of laissez-faire who are advocates of freedom. Freedom from the coercive force of government which interferes in markets through taxes, tariffs, subsidies and regulation and controls the character and supply of our bio-survival tickets. They promote ideas and models for the peaceful co-existence of everyday people, even with the complete absence of central government, or to steal a phrase from self-proclaimed anarchist and prominent cryptocurrency advocate, Jeff Berwick, a “world of 7 billion governments”. Anyone who truly wants to understand Bitcoin and the appeal of cryptocurrencies would do well to soak up anarchist and libertarian thinking, to get a sense for why these people were the very early innovators of cryptocurrencies and why they hold on to them even when the markets dip and crash. One can only grasp the world-changing potential of Blockchain technologies by seeking out, with a critical mind, the writings broadcasts of the likes of Murray Rothbard, Ludwig Von Mises, Ayn Rand, Larken Rose, Stefan Molyneux (pre-Trump), Max Keiser and Jeff Berwick. And not forgetting to read Satoshi Nakomoto’s White Paper for Bitcoin.

Money underpins much of everyday human behaviour, it’s the transaction protocol upon which we build modern societies. The word ‘Anarchist’ is uncomfortable for some because it conjures images of lawless thugs in balaclavas hurling Molotov cocktails. But anarchism doesn’t imply ‘no rules’, it implies ‘no rulers’. It fosters self-governance through mutual consent. And the emergence of the current swathe of Blockchain based technologies is the enabler for this. Armed with the appropriate background knowledge, a currency not controlled by governments and banks seems fare more palatable.

Search the reader comments on any mainstream tabloid news website, and even in 2017 you’ll see the usual fear-mongering comments associating cryptoassets with crime, bubbles, and Ponzi schemes. People, understandably, fear the oncoming cryptoasset steam-roller because it threatens their established systems of establishing a position within the social dominance hierarchy. The ‘experts’ they are informed by are the journalists, the bankers, the government representatives who have a vested interest in maintaining the status quo, but where we’re going, there is no central authority…

Everyday Blockchain on Facebook

I’ve recently started a Facebook group called Everyday Blockchain to look at all aspects of Bitcoin, blockchain technologies and cryptocurrencies. Feel free to join.

24hr Crypto Market Round up

24hr Crypto Market Round up

Some interesting movements in the top 10 today

Bitcoin Cash making ground on its previous all time high

The trend was seen across the board with 8 out of 10 coins making positive moves against the dollar.

Remember Follow me via https://medium.com/@john.l.fenton

Bitcoin (BTC) $18899 down 1.77%

Ethereum (ETH) 6.55% up @ $768

Bitcoin Cash (BCH) @ $2154 up 16.47%

Ripple (XRP)2.78% up @ $0.749507

LiteCoin (LTC) @ $328 up 2.13%

Cardano drops 5.97% @ $0.474988

IOTA up 14% @ $4.20

DASH @ $1120.73 up 1.12%

NEM rises @ $0.796317 gains 17.3%

Monero @ $370 up 8.03%

Note: These are my opinions and I like to think I am right all the time, but have been known on the ODD occasion to be wrong, so the here is the legal bit

My opinions on the blog do not constitute investment advice.

24hr Crypto Market Round up

24hr Crypto Market Round up

Some interesting movements in the top 10 today

Bitcoin Cash making ground on its previous all time high

The trend was seen across the board with 8 out of 10 coins making positive moves against the dollar.

Remember Follow me via https://medium.com/@john.l.fenton

Bitcoin (BTC) $18899 down 1.77%

Ethereum (ETH) 6.55% up @ $768

Bitcoin Cash (BCH) @ $2154 up 16.47%

Ripple (XRP)2.78% up @ $0.749507

LiteCoin (LTC) @ $328 up 2.13%

Cardano drops 5.97% @ $0.474988

IOTA up 14% @ $4.20

DASH @ $1120.73 up 1.12%

NEM rises @ $0.796317 gains 17.3%

Monero @ $370 up 8.03%

Note: These are my opinions and I like to think I am right all the time, but have been known on the ODD occasion to be wrong, so the here is the legal bit

My opinions on the blog do not constitute investment advice.

Characteristics of Money

With the recent stratospheric spike in Bitcoin prices in terms of USD ($19,600 on 17–12–17), I have been involved in several conversations where there is a clear misunderstanding of what Bitcoin is. People are fixated on its “asset” value. Others criticize the fact that it is “worthless”. I then ask them: How much is the cash in your wallet really worth? What makes it be worthy of value? If you went to a deserted remote island with no stores, ATM’s, etc., what would you prefer to have from these two options:

  1. $100 in one-dollar bills?
  2. A lighter, a utility knife, and a plastic tarp to cover yourself

I suspect you would choose number 2, since the amount of fire you can get from burning the 100 pieces of printed paper money is not much. I would rather take my chances in finding dry leaves of any sort, and having a method of making fire easily the first days, while I build some more permanent shelter. Some might still argue that you can keep the dollar bills in case a ship passes by so you can “pay” for your rescue somewhat. The chances for that scenario puts your rescue outside of your sphere of control. So, why is money no longer worth anything in this situation? Simple. It no longer is a medium of exchange, because there is nobody to exchange it with! You can still use it as a means of storing value. Even then, if you spend 40 years or longer on this remote island, eventually this will no longer hold true because of inflation, money printing or more recently “Quantitative easing”. So, the only “true” worth would be as a unit of account. You can still use it to keep tab of some resource (food,water, etc) gathering process. Even then, I think I’d prefer to make marks on a rock or piece of wood. Something that will not be blown away with the wind.

Fundamental truths about money

Can we agree on this? Money must be at least:

  1. Medium of exchange
  2. Unit of account
  3. Store of value

Good. Now that we have agreed upon that, what the hell does this have to do anything with bitcoin?

Is Bitcoin a medium of exchange? YES

Can you count things and express them in terms of Bitcoin? YES

Can Bitcoin store value? YES

Many will argue with me: NO! It cannot, it is worthless!

Intrinsically, a piece of code sitting on a computer is worthless until it does something useful, but when someone finds this piece of code useful, and puts it to work on something useful (like creating a medium of exchange, counting things and representing the value of other things), all of a sudden it becomes valuable. Analogous to our 100 one dollar bills becoming useless and thus worthless in the “remote island scenario”, the computer code becomes useful and thus worthy in the “everybody has the ability to be connected on the internet scenario”.

What makes something useful as money?

So far, we have established how thing scan gain or lose value according to their usefulness. But, what qualifies anything as useful? And more to the point, what makes anything useful as money?

We all know that several things have been used throughout history to fulfill the role of the triad of fundamental truths about money:

Mayans used cacao beans.

Greeks, Romans used salt to barter for slaves or pay sal(t)aries. Even today, the nomads of the Danakil plains in Ethiopia

We all know about Gold. It has represented the fundamental truths about money since time immemorial. It still does today as jewelry and just by itself.

These three main monetary units have pros and cons:

  1. Durability: Gold is durable, and you might argue that salt is, but cacao beans are not.
  2. Divisibility: Salt is quite divisible, then cacao beans come in second, and surely gold is hard to divide, unless everybody has sophisticated gold-cutting machines.
  3. Uniformity: I suspect that gold wins in this category, then salt (depending on whether you want sodium chloride, or potassium nitrate, which is also a salt), and lastly, a cacao bean, which as nature would have it, can yield a plethora of variations of a cacao bean depending on where it is grown.
  4. Limited supply: We can all agree that gold is truly in limited supply, you have to mine the thing, or fly out to other solar systems and do the same with the added cost of bringing it back. Salt is the next limited, except for the fact that the large amount of salt in the ocean, and with a couple of inventions to extract salt at record speeds from the ocean or mines it no longer is scarce, eventually, you might be able to extract all the salt in the oceans, reaching a limit, but climate change would no longer be the buzzword for doomsday stories, the topic would be “global desalination”. Cacao beans might seem unlimited, and truly, even if we plant each square centimeter of soil on the planet with cacao trees, the trees have theoretical unlimited production capability (until an asteroid hits us or the sun explodes). So, cacao beans are not limited, then salt, and gold is the only one with a limited enough supply to reign in this category.
  5. Portability: Depending on the price of things, cacao beans and salt would seem more portable, but gold can be quite portable if you can exchange many things for one coin. Then we can argue about the size and weight of the piece of gold, and certainly, if you want to buy a house or property, it is a bit cumbersome to carry truckloads of salt, cacao beans, or a wheelbarrow full of gold ingots. Doesn’t it seem kind of weird that we are arguing about the portability of something depending on the price of things and capacity of carrying the actual money or store of value? Why don’t we just write pieces of paper representing these items?
  6. Acceptability: If you wanted to go to your local market or a local restaurant to buy food, I suspect that cacao beans would be readily acceptable (depending on the market, and how much demand is there for raw materials for chocolate), so gold would be more readily and universally acceptable than cacao beans and salt.

As you can see, each of our “competitors” for proper money fail in some areas, rendering them as semi-adequate monetary units. Of all of these only gold can be considered a fairly good monetary unit. So we are forced to live with its drawbacks: Not too portable, not easily divisible. This works great for storing value, but I have never seen people carrying gold ingots or coins or jewelry in wheelbarrows around. Aside from how cumbersome it is, others can easily steal it by rendering you unconscious.

Additional Characteristics of Proper Money

So far we have defined money as:

  1. Medium of exchange
  2. Unit of account
  3. Store of value

Things become useful as money if they have:

  1. Durability
  2. Divisibility
  3. Uniformity
  4. Limited supply
  5. Portability
  6. Acceptability

We established that gold is the best at representing these roles and characteristics, except for its pesky lack of portability and divisibility.

My proposal

Before we get to my proposal, let us consider how the geniuses (really, they were) decided to issue pieces of paper representing the amount of gold held by a third party called a bank. Yes, up to a certain point, each dollar, or other currency, gave you the opportunity to withdraw an amount of gold from the bank that wrote the piece of paper. What a genius right? YES! It solved the portability and divisibility problem.

At some point, there was so much confidence in the system, that everyone decided that they would let the value of the piece of paper float (not be tied to a physical piece of gold sitting on a bank somewhere). This happened around 1944, with the Bretton-woods agreement. This gave rise to fiat money.

Fiat Money

Originates from the latin for “it shall be”. Wait. Fiat Money = It shall be money. Oh! it’s like we used to do when we played as children, where we cut pieces of paper and drew numbers on them representing different denominations, and agreed that a piece of paper with a 1 drawn on it shall be one unit of currency. The piece of paper with a 5 drawn on it shall be five units of currency. The piece of paper with a 50 drawn on it shall be fifty units of currency… and so on. You get the drift. We played market or monopoly happily with these printed pieces of paper, and we all had fun while everyone agreed that it shall be what was supposed to be. Pretend play was awesome! You could have hours of fun pretending. As long as only a certain amount of pieces of paper were made, agreed upon by everyone , the game worked wonderfully.

Until that cousin or friend who figured out, that to “win” at monopoly or in purchasing everything from the market seller, he could secretly make more pieces of money. Now, inflation was no longer what happened to balloons before parties, it became a valid concept when that cousin kept winning at monopoly or cornering the market by buying everything. Everyone else, who honestly “earned” their play money could no longer afford to buy a play house, or play veggies because the cousin with all those bills could outbid everyone in buying them. Making it impossible for others to purchase it back.Counterfeit money became a serious problem.

So, another genius solution to this problem: let’s make the bills tamper-proof and set some clearly agreed-upon rules. Now, nobody will be able to print fake money. Good. Has it worked? well, at the time of this writing, I did a cursory search on google for the terms counterfeit money, within the news category, and a search returned 1,310,000 results. The first five headlines: “How to spot counterfeit money and what to do if you encounter it”, “Police Seek Counterfeit Money Suspect In Eden Prairie”, “Man wanted after attempted use of counterfeit money”, “Police looking for men using counterfeit money at stores in Norfolk”, “Woman Arrested Second Time For Passing Counterfeit Money: Police

So, here we are in 2017, humans have landed on the moon (and haven’t returned since :( ), we are landing rockets upright coming back from space, we are creating all sorts of new technologies, but… we still have not figured out how to stop counterfeit money?

So, as tamper-proof and agreed-rule rich this printed money is, they still print counterfeit bills. Those thieves!

Solution?

Let’s give this responsibility to the honest cousin. Let’s make sure that only his signature makes bills valid, (which can still be counterfeited by the black sheep cousin or friend). The problem still largely rests on the paper money which can be easily counterfeited. This is the problem that the Fed or other monetary authority must confront: counterfeit bills. So, even if we give the money printing capacity to the honest (?) cousin or friend, the counterfeit problem will still happen.

Ok. So let’s assume that our honest and smart cousin now makes a really cool, extremely robust tamper-proof piece of paper money. Finally! problem solved! right?

Sure, the problem is solved if our cousin or friend is honest at every point in time, and follows the agreed-rules of money creation. But what if one day, our cousin is tempted to overprint money, or “bend” the rules just a little bit? No harm done if we print just a couple of more bills or we bend the rules just a “tad” one day. But what happens if our honest cousin, after several cycles of “bending” the rules and overprinting is no longer honest? Where is the line drawn? When does the cousin or central bank stop being honest? Now the process process of monetary emission by a supposedly trustworthy party has become inconsistent. Inflation resulting from this can now come not only from counterfeiters, but from those in charge of printing the money. If you don’t believe it’s possible, just look at Zimbabwe or Venezuela in recent years.

WOW! What a bummer! now we cannot even trust the people we entrust with the printing and maintaining the money. Those agents entrusted to care for our best interests regarding money bend or break the rules, and the ones who pay the cost are the users of that money. This is known as moral hazard. If you stop reading here, the world will continue to be a bleak, sad, depressing place. No money meets these characteristics today. So, let’s solve this moral hazard issue.

Proposal for added characteristics of money

Now we have established that it sometimes can be hard to verify whether the money is authentic. Not all users will agree on proper use, and then some are ok with the fact that those in charge of printing it will bend the rules, and when they do they will do so frequently and erratically. This gives rise to my proposed characteristics to be added to the definition of money:

7. Verifiability: Money authenticity must be verifiable.

8. Agreeability: Users of the money must all agree on a simple yet clear set of rules for its usage

9. Trustworthiness: Money creation must be done by a highly trustworthy party.

10. Consistency: The monetary emission and management must be consistent, each and Every. Single. Time.

Good! We now have 10 characteristics in total. The concept of money is becoming clearer with each line I type. These characteristics will resolve the moral hazard issue we bumped upon earlier. But, is that sufficient?

Is it only me or have you noticed that we try to resolve a problem and we somehow end up creating new ones? Going back in time to childhood seems like a very inviting prospect! Let’s go back to pretend play for a bit, maybe we can figure out some more clues from our times as kids.

Pretend Play and its benefits.

When discussing fiat money and how fiat means “it shall be” I remember all the pretend games we play as kids. Aside from the market game, consider another game: “I shall be the doctor and you shall be the patient”. Let’s face it, we keep pretending until we are adults. Consider a short speech at my graduation party: “When I was younger I pretended to be a doctor, and my sister pretended to be the patient, today, I stand here after just receiving my medical degree to practice as a [insert specialty here]. Many thanks sister”. Here is where fake it ‘till you make it becomes relevant. (Just to clarify, I am not a doctor, never played doctor with my sister, su that was also pretend play, only to make a point!)

Inventing something or faking something is crucial in the development process of humans or anything we do. You have to believe or imagine that you are a doctor-caliber kind of human to go through medical school (attend classes, study long hours, do your practice training, etc.). You have to believe you are an astronaut-caliber kind of human to go through astronaut training and fulfill an actual role manning spaceships or the International Space Station. So, fiat money is fake money, but real enough that large transactions are carried out every single day. Fiat money began as an invented idea, until someone made it true. However, inconsistency in how we fake its use and rules governing it, renders it less verifiable, consistent and trustworthy.

So, to continue circumventing the problem of gold’s lack of portability and divisibility we have the unfortunate choice of choosing amongst “fake” currencies: Fiat money or cryptocurrencies.

Since nothing in this universe is perfect, we have to settle for a choice that is sufficient to satisfy the condition of being the least fake amongst the two choices offered. Let’s figure out which one is less fake and pick that one.

Sufficiently less fake for me means that which portrays its characteristics in a consistently verifiable manner. The more consistent something is portraying desirable characteristics, the more I will believe in it. Let’s face it, nothing is guaranteed to last forever (except diamonds, and why then do we not use them frequently as money?) but for the duration of the existence of something, a duration for which it consistently shows the ideal characteristics of money, it ends up being enough of something to be labelled as true.

To eliminate the concentration of representatives or agents that can also bend this truth, a decentralized approach to manifesting this truth and reinforcing it is necessary. It is crucial that a majority of the users of any money agree on all of the characteristics, throughout the duration of the existence of this money.

This is exactly what is driving the “price” of Bitcoin these days:

Paper or electronic fiat money handled by agents which exhibit moral hazard is no longer sufficient to meet the characteristics of desirable money, therefore users of money have lost faith in it.

Add Three and One more

With that, I concluded that ideal money needs to have three more characteristics and one more fundamental truth added to it:

11. Sufficiency: The money must portray these characteristics in a sufficient manner to just exceed the characteristics inherent in an alternative monetary unit.

12. Willable: Those using it have to desire the inherent characteristics of that particular money type into existence, thus driving its desirability

13. Monodispersity: The user base must be fairly homogeneous, preventing concentration of money in groups that can null any of these characteristics invalid.

The fundamental truth to be added is:

Faith by users

Fatih is defined as the trust of confidence in someone or something.

Money must have the complete trust or confidence of those who use the money, that it will retain all these characteristics in the future.

The naysayers

To those who criticize how “fake” Bitcoin is, I hope you realize just how fake the paper money can be too. And it’s fakeness doesn’t make it worthless. The same applies to all the cryptocurrencies out there. The “irrational exuberance” or “euphoria” for Bitcoin is intrinsically driven by the concepts expressed above. The concepts themselves do not guarantee that any cryptocurrency will never lose value, but in human history, this particular instrument or device called a cryptocurrency with its specific set of rules is the closest thing to act with these characteristics. Thus it’s stratospheric increase in value.

Keeping Score

So now we have thirteen characteristics and four fundamental truths about money. Are we done? I think one more characteristic is necessary for a 95% perfect definition of ideal money. The characteristics must hold despite attempts at violating them! We then conclude that integrity is a crucial characteristic. I define integrity in this context as:

The ability to maintain its characteristics in the face of opposition and attempts to violate them. It is also the ability to modify those characteristics when the well-considered judgement of all of the money users dictate it.

So, we add one last characteristic:

14. Integrity: The money must maintain these characteristics in the face of opposition and attempts to violate them. The ability to modify these characteristics when the well-considered judgement of all the users of the money dictate it must be retained.

Final Score

Bitcoin has faked it till it made it, as the best definition of money, faster than fiat currency ever did. Time and history will be the final judge on whether it really was a better definition of money.

It is the best definition of money now, but there are those who seek to destroy it or limit it, for the clear and obvious reason: it poses a threat to their position as agents with control, which eliminates their prospect of counterfeiting and thus gaining advantage from it. For time and history to judge Bitcoin (or cryptocurrency) as the best” definition of money of this century, it has to survive these attacks.

It is my belief that Bitcoin is well suited to survive these attacks, precisely because it performs in the best manner yet known, the embodiment of four fundamental truths and fourteen characteristics of ideal money.

Bitcoin: The Ideal Money

Four Fundamental Truths of Money

  1. Medium of exchange: Bitcoin is already being widely used as a medium of exchange.
  2. Unit of account: Being a numerically based currency, it is a fairly solid unit of account, from One Bitcoin and beyond, to less than a Bitcoin with up to eight decimal point divisible units, or satoshis.
  3. Store of value: You obtain bitcoin today, and tomorrow you can use it to buy something else, without it having lost value.
  4. Faith by users: The growing number of clearly countable transactions of Bitcoin shows how much faith is being placed on it. Those who use Bitcoin have trust and confidence in it. More so than other currencies. on 17–12–17, there were 450,000 transactions done with Bitcoin. Compare to 81,700 on the same date in 2014, and only 220 per day in 2010.

Fourteen Characteristics

  1. Durability: Bitcoin is clearly durable. Since you can make infinite copies of the data that represents Bitcoin, this means that it is thus infinitely durable. You could even print the blockchain data encoded in several laser engraved crystals that will last billions of years. Only a reverse big bang will render this currency’s durability obsolete.
  2. Divisibility: Bitcoin can be programmatically divided into satoshis using integer arithmetic (1 satoshi = 0.00000001 BTC). Since it is not infinitely divisible, this is that .1% thing that will never allow Bitcoin to be the perfect currency, only to be outlasted by the cryptocurrency which has divisibility beyond 8 decimal points. Still. It is much better than “only cents”.
  3. Uniformity: Bitcoin is represented by infinitely reproducible computer data with unique identifier keys and the secure blockchain, thus allowing for a highly uniform and consistent characteristic.
  4. Limited supply: The computer algorithm running in every node that uses bitcoin knows beforehand that only 21,000,000 Bitcoins will ever exist. You would have to hack 51% or more of the computer nodes running Bitcoin wallets or miners to change this. I think this is going to be very hard to do.
  5. Portability: You can write your bitcoin wallet number on a piece of paper, laser engraved superman crystal, or as most mortals do: on a computer or mobile phone. You can transact with anyone who has the latest copy of the blockchain as yourself, and can verify with others that you can spend the money you say you have. As long as we have networks, ways to connect our devices to them, Bitcoin will be as portable as your smartphone or even a smaller device that functions similarly.
  6. Acceptability: If everyone using Bitcoin also accepts it, then this is the perfect coin. It is also easy to become someone who accepts it, no need to get sophisticated bank issued credit card accepting machines or signing tons of papers. The high transaction volume mentioned above shows how acceptable it is has become.
  7. Verifiability: The authenticity of Bitcoin and transactions of the network can be verified given its distributed node architecture, providing high Byzantine fault tolerance. A system that provides this fault tolerance is capable of resolving the Byzantine generals problem.
  8. Agreeability: Users of the money must all agree on a simple yet clear set of rules governing the money. Bitcoin provides this by having no centralized authority, but rather confirming changes by a majority of nodes signalling voting for or against proposed changes.
  9. Trustworthiness: Money creation in Bitcoin is done by a previously agreed process of miners, and the high Byzantine fault tolerance of the blockchain system provides an additional layer of trust.
  10. Consistency: Bitcoin monetary emission results from a clearly known process, happening consistently every moment of its existence.
  11. Sufficiency: Bitcoin exhibits all these characteristics in a manner such that it demonstrates sufficiency over other alternatives such as cocoa beans, salt, gold, fiat money, electronic money, etc.
  12. Willability: Bitcoin users have been desiring its inherent characteristics into existence since 2009, thus continuing to drive its desirability. Bitcoin’s motto could be summed up as: “Faking it till making it since 2009
  13. Monodispersity: Bitcoin’s miners and users are fairly homogeneously distributed. As more participants enter into using Bitcoin, they help disperse the miner size, and dissolve individual concentrations of bitcoin accumulation. More users means less possibility of a majority controlling the currency and rendering any of these characteristics null.
  14. Integrity: Bitcoin maintains these characteristics in the face of opposition and attempts to violate them. The distributed system of voting inherent in the cryptocurrency permits the modification of any of these characteristics through decisions of the majority of nodes using Bitcoin. Decisions are considered well-considered judgement through the agreement of most of the users of the money. Only those using bitcoin agree what it’s best for their currency even in the face of outside influence or duress.

The Future

I believe that Bitcoin will continue being the cryptocurrency of “last resort” and will continue increasing in value as referred to by the prices of other fiat currencies, crypto-currencies and goods. Other currencies might take some of this away, but the primacy rule for this cryptocurrency will have it be the go-to cryptocurrency for many years.

I can’t foresee all the details, but this is my best effort attempt at making sense of what is going on. I might be wrong about many of the things I just wrote, but I will let time be the best judge. I’ll probably be laughing at some of the things I mention, and will surely have overlooked many others.

At least I have a clearer definition of what money is, and I hope you and many others will agree with it.

A Gold Guys View of Crypto, Bitcoin, and Blockchain

Bitcoin was on my radar far back as 2011, but for years, I didn’t think much of it.

It was a curiosity. Nothing more.

Sort of like the virtual money you use in World of Warcraft or something. In 2015, looking deeper, I slowly (not the sharpest tool in the shed) arrived at that “aha” inflection point that most advocates of honest money arrive at. I realized that a distributed public ledger has the power to change, well, everything.

Changing All The Things

One aspect of crypto that appealed to me was that this technology had the potential to bring “un-banked” people from around the world into the modern financial system. It potentially granted access to digital transactions without the use of banks for billions of people that were formerly excluded from transacting in the modern economy. People could be rewarded for their labor and have access to opportunities in ways which would not exist otherwise.

In places like Afghanistan, the local people do not go to their neighborhood super-mall to buy laptops and ipads. Much of the developing world has ever growing access to smart phones, with market penetration reaching into the billions. Developing countries are skipping the entire computer-laptop-tablet phase and moving straight into much more affordable smart/feature devices with internet access. In the Middle East and Africa, nearly all internet users are on mobile devices. Combined with crypto, all of these devices making up the internet of things grants access to a new global financial paradigm that is potentially owned by the people themselves.

Imagine a world where a teenage girl in India can start a business, sell her wares or services, and then through her phone, internet, and crypto-currency store the fruit of her labor. She can then buy an item on Amazon and have it shipped to her half-way around the world without ever having to open a bank account. This is the future that crypto-currency promises.

Having transactions validated with cryptography means we can trust the math, and not have to rely on a human intermediary or the bank. The only way to compromise the cryptography requires computing power that no private (or sovereign) entity in the world can bring to bear. I have heard one crypto expert assert that the current hashing power of the voluntary nodes processing the bitcoin algorithm has more power than all of the world’s supercomputers combined. Because it is a distributed public ledger, it means that no single entity controls it, but everyone gets to see the transactions in it. This performs the primary function of every bank since Medici, which is keeping track of where the money goes. Only now, you don’t need the bank. The technology has the potential to dis-intermediate the banks, and therefore the political class, from having total control of every aspect of peoples financial lives.

This is not to suggest that there will be no future need for banks. There is close to $200 Trillion USD value of fiat currency issued by governments around the world, and that has to find its way into crypto somehow. The existing financial system will not all of a sudden fold up and disappear. There should be ample opportunities for financial services moving forward, but there is no doubt disruption is coming.

If crypto continues on its current path, the political and financial elites who have an interest in maintaining the current system of Central Banks, taxation, and fractional reserve banking created over the last hundred years will not take it lying down. It is my view that once political elites realize the true threat cryptocurrency poses to their control, they will do everything in their power to delay, derail, and destroy it.

Believers in honest money have known this for millenia.

“A “gold war” is an attempt by the government upon the constitutional rights of the individual. Why do governments resort to gold wars? Sometimes they want to wage shooting wars without raising taxes; at other times they want to indulge in “social engineering: through the redistribution of income. But in every instance there is one common thread: governments have correctly identified gold as the only antidote against their effort to build the Tower of Babel of irredeemable debt.” — Ferdinand Lips 1972— Former Founding Director of Rothschilds Bank Switzerland

Over the years the push by politicians and financial elites towards total control of the financial system and therefore the financial lives of every person on the planet has progressed seemingly unimpeded. There is a long litany of offenses which I will not attempt to catalogue here. Anyone can probably relate to increasing taxation, financial regulatory interference in their lives, and continually worsening purchasing power. When I was a kid a movie ticket was $1.50. I just bought tickets to Stars Wars The Last Jedi for $20.50 each, and for a family of five that starts to get pricey.

This insidious process is the basis for many of society’s ills. The honesty of the money system is the first foundation upon which a free society is built. It is the most sacred and basic means of storing one’s labor and the only hope for a future better than the one we have now. For countless millions, the hope for a better future has been slowly eroded, until only the most optimistic among us can see the light, if only dimmed through the fog of battle on an endless hamster wheel of wealth chasing required in a financial system that targets a 2 pct level of inflation. Capital formation historically precedes diversification of labor, and a prolonged contraction of labor (loss of higher paid work) is a symptom of a sickly structure that disproportionately benefits rent seekers versus wage earners. These are symptoms of a broken and dishonest money system.

In the United States today, the traditional family unit has two working parents, some of which hold two jobs, and still have a lower standard of living than the generation that came before it. Average annual incomes have been in decline for close to 40 years. Combined with the inflation that has destroyed the buying power of the US dollar, many Americans find themselves with dwindling hope.

Our children are not blind to this. All of my kids, in their teenage years now, recognize that the system we are leaving to them is broken. They are not stupid. They are observant, and they can see the trends in motion, even if we, the supposed adults here, are unwilling to admit to it.

But still, with all the potential that crypto promised, I was unconvinced.

I will address some of the challenges I see, and some of the current memes that are clouding the benefits crypto has to offer to people who are looking at it for the first time.

Bear with me if you are a crypto-advocate. These are my own concerns, and I point them out not as a critic, but because it might be prudent to consider them. If you stick with me to the end of this article you will see I am not anti-crypto, but rather see it as an opportunity.

Crypto is the new gold

It is fascinating to me that Bitcoin is always being compared to gold, as if in order for it to be legitimate, it must somehow dethrone man’s most ancient form of money. Almost every visual rendering of Bitcoin I have ever seen is in the form of a gold coin.

What I don’t understand is why? Crypto has made its own place in the world by making an amazing leap forward as a medium of exchange, with thus far unrivaled capabilities. But crypto is not gold, and can never be gold. I suggest that BTC and Crypto are better as a medium of exchange, while gold is a better medium for storing value.

This is not because of some dogma I have for the metal. Some will trot out “you are just talking your book” when I mention this.

The simple fact is, out of the near 185,000 tons of estimated above ground gold, someone owns, all of it. Every fine gram of gold above ground belongs to someone already, whether that be in the form of bars, coins, jewelry, the thin layer on astronauts helmets that protect them from solar radiation, or the gold plated contacts in the mining rigs used to mine crypto. New gold mined from the ground is usually spoken for before it ever hits a refinery. My job as a physical gold fund manager is not to convince people to buy gold, that job has already been done.

The reason crypto can never replace gold lies in physics: Gold cannot be destroyed

Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.

I continue to find that in the financial professional space, gold’s utility value is widely misunderstood or isn’t understood at all. For purposes of common ground, let’s approach this from first principles. Let’s start with what we absolutely know to be true, and go from there.

Wealth is created at its most basic level, when a person expends their labor, i.e., invests human energy and creates a good or service that some entity is willing to exchange an agreed token of value for. In other words, anything in excess of what we pay for where we live, what we eat, the clothes on our back, or basic necessities to survive, is wealth, or a surplus of energy.

Once wealth is created, and we have a little bit of surplus energy, what do we do with that surplus energy? We can either invest it or store it in money.

What is money? Going back to basic economics textbooks, money is a few different things — a medium of exchange, a unit of measure, and a store of value.

I suspect many crypto-advocates will dis-like this, but I would suggest that being a medium of exchange is not the foremost utility value of money, a store of value is. There are plenty of people in Venezuela right now who have access to Bolivars as a medium of exchange, but when the value of those units of exchange plummet to near zero, they are worthless for practical purposes. If money does not retain its value, it is useless for all practical purposes of deploying ones stored labor for future use, and no amount of awesomeness as a medium of exchange will change that.

This is where gold’s true utility comes into play. Not only does gold store value, it’s the way gold stores value. Gold stores energy in a form that is indestructible. That is the key, right there, in a nutshell. I’ll say it again; gold’s utility value is the fact that it stores energy in a form that is indestructible. Unlike anything else you can invest or store money in, gold doesn’t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.

Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level.

I have heard some may say that “someday no one will value gold, so it does not matter.” Not only do we have almost 5000 years of data to show that has never occurred, but there is literally nothing on the planet earth in accessible quantities with gold’s physical properties that can replace that utility.

In a recent Twitter exchange someone said to Jim Rickards, “Jim, AI systems won’t be using gold,” and he answered back, “Gold won’t be using the power grid.” This a humorous way to make the point, but I would even take it a step further than saying gold is not just good money, it is the only form of money that is completely resistant to financial entropy. By financial entropy I mean that every other thing one can hold or invest money in requires human effort and interaction in some way or another to maintain. Bitcoin requires electricity, the internet, computers, developers, miners. Companies and fiat-issued currencies require human force of will to maintain. Stocks, bonds, and commodities all will erode over time without effort to the contrary. All of these require human will and interaction to resist the forces of entropy, otherwise they slowly self-destruct over time. The only thing that doesn’t do that as far as I know is gold

A little challenge if you will humor me: Can you think of any form of storing wealth, whether it be an investment in stocks, bonds, companies, real estate, Bitcoin or anything, that is not subject to entropy (self destruction if left alone) over time?

Finally, gold remains a critical base component of the entire global financial system. The entire above ground global stock of gold is worth approximately $7.5 Trillion in US Dollar terms, while all crypto is coming in at approx $300 Billion (grant me some leeway here, the price is moving faster than a flaming marmot).

Central banks do not hoard coffee, sugar, copper, or Bitcoin, but they do hoard gold. The US Central Intelligence Agency classifies gold as a reserve asset. ( cia.gov/library/public… ) So do top level institutions such as the IMF. At the highest levels, financial elites who manage our global financial structure know the truth of this, and you can find it buried in the details, even if they deny it in public. Watch the commentary of former Central Bank Governor’s regarding gold after they leave office for clues. More or less, they acknowledge gold is the emergency reset button if fiat loses confidence.

Crypto-currency is not gold, and can never replace the indestructibility of gold, but the two can work side by side in a new global paradigm of financial freedom and independence.

You can’t Confiscate crypto but you can confiscate gold

While partially true, this does not take into account the fact that at every point where crypto touches the fiat eco-system, it is subject to government confiscation.

Politicians figured out almost a decade ago that by controlling the chokepoints (see FATCA) such as banks, exchanges, and financial intermediaries, they are able to control the global financial system.

Crypto was designed to circumvent this, but the vast majority of the trading volume in Bitcoin is arguably for speculation. Until crypto is adopted for commercial exchange as its primary function, then touchpoints to the fiat ecosystem are a requirement. That’s called a chokepoint.

This is already in play. Check out S.1241. If this bill passes, Title 31 will redefine financial institutions to include issuers or exchangers of crypto, and they aren’t writing these new laws solely for the laughs. This is foundational law that will empower financial regulators to directly attack crypto users at key fiat-system chokepoints. Many regulations are already on the books which grant regulators authority to do this even if S.1241 fails. If you think that is conspiracy, I recommend “Treasury’s War” by Juan Zarate. Using such chokepoints is not only a matter of fact, it is a standard tool in the modern sovereign financial warfare arsenal.

Like gold, crypto can survive 100% off the grid, meaning that if it is stored and used completely apart from touching the fiat ecosystem it cannot be confiscated, but to assume its current use value is somehow immune to confiscation at any level is naive at best.

You are too dumb to understand the technology — people don’t ride around on horses anymore dude

For those of you doing it, please stop taking this position. It is not a logical argument. It also alienates the people you are trying to convince, and is not bringing more people over to crypto.

16 years in IT, and I am still a bit of a nerd when it comes to technology. I managed wide area networks, ran datacenters, etc. Today I ordered the parts for a 12 GPU mining rig I intend to build as science project and Christmas gift to me. I have read a half dozen books and dozens of articles and whitepapers on blockchain and distributed ledger technology. I am not a cryptographer, but I get it.

Most other common memes of crypto vs gold revolve around faith based arguments

These vary widely, but range from “we will soon mine asteroids and gold will become worthless”, to “when fiat fails it is crypto’s destiny to take over the smouldering remains of our financial system”….like… in accordance with the prophecy. To be fair, I know plenty of folks who think that is a role destined for gold, but saying that doesn’t make it a fact.

I have heard the argument of mining asteroids so many times it is becoming like the sand in your shorts at the beach. It is not relevant, but you still have to go rinse it out to avoid chafing. This flying unicorn idea has zero credibility because it defies basic physics. Launching spacecraft isn’t free, nor is anything else about this idea. There are cost inputs to all resource extraction activity which requires a market price to support, or it simply isn’t economic to do. Just ask the frackers.

Real Challenges Facing Crypto

I am not going to deep dive these issues, you can find ample data to support these concepts without extraneous effort.

  • Not yet proven able to withstand substantial liquidity events. The first time a hedge fund bails out of Bitcoin to the tune of a hundred million usd, we will find out how deep this rabbit hole really goes.
  • Automated Wash trading on some of the worlds largest exchanges. There are videos available which show automated wash trades occurring on one of the world’s largest crypto exchanges. For those of you not familiar with wash trades, they are pairs trades where buys happen to precisely match offer’s and intentionally trend the price higher. I don’t claim to know if these are legitimate, but they sure look that way.
  • The entire tech stack is riddled with single points of failure, and technical chokepoints subject to interference by political elites. As with most man-made systems, there are choke points. Routers DNS TCP/IP Packet level inspection culling, etc. There are ways to circumvent most of what may be thrown at crypto on these levels, but the average person has no idea how to use them, and may react adversely when they are employed.
  • Community consensus driving policy changes. I admit I am no expert on how this works, but the idea of the community deciding policy sort of short circuits the idea of this thing being driven completely by math and not depending on humans for trust.
  • Hacking. The theft of crypto from exchanges, mining pools, and wallets is becoming common. The average person is not technically literate enough to secure their crypto, and this needs a solution.
  • The need for more robust infrastructure. Blockchain transaction clearing vs current transactional infrastructure such as visa is not even in the same ballpark yet. There is currently a backlog of 106478 unconfirmed transactions on the BTC blockchain. (See the number as of this instant here https://blockchain.info/unconfirmed-transactions ) . Key exchanges are a limiting and centralized potential point of failure. During periods of heavy trade volume, the largest exchanges are down and or error 404 for extended (days) periods of time.
  • The Dawn of Quantum Computing. Quantum computing, if claims are to be believed, has the potential to make all existing cryptography obsolete.

    Twitter conversation:

Koos Jansen [gold]
@KoosJansen
Replying to @alexstanczyk @sujitnambath

Some say BTC can survive quantum (if there’s time), others say Ethereum will be quantum-proof, yet others say there is already resistant Distributed Ledger Technology.

Alex Stanczyk
@alexstanczyk
Replying to @KoosJansen @sujitnambath
Yes, but to outrun the theoretical speeds of these Quantum computers, crypto keys would have to be massive. I read one article claiming like 1 terabyte, or larger. Try storing that on a thumb drive.

And finally,

“There is only one Lord of the Ring, only one who can bend it to his will. And he does not share power.” -Gandalf

The biggest risk to the success of crypto as free market money owned by the people is entrenched political and financial elites. There is a non-zero probability that political elites will simply get together, declare crypto currency illegal, and issue their own blockchain based (non distributed) cryptocurrencies which they declare to be fiat. People may be able to use crypto as a black market (see illegal) means of exchange after that, but the powers that be will do their best to make their lives hell.

I had a brief exchange with the well known Founder & CIO of Morgan Creek Capital Management Mark Yusko, that went:

Mark: “They banned alcohol and made drugs illegal and that worked really well”

Me: “To be fair, alcohol and drugs were never a threat to the gov sovereign control of the financial lives of billions of their subjects. We may all be well served if we do not underestimate the lengths gov may go to in order to retain control of the money we use.”

Mark: Twitter Like

For Years The Answer Was Always Gold

For a decade I have believed that the only way to collectively extract ourselves from this systemically corrupt morass of modern financial slavery, was to go back to an honest form of money. Coming from a gold background, and having studied monetary history, the answer to me was obviously gold.

At the end of the day, when it comes to money the common thread throughout all of human history has been confidence in mutually agreed future value — whether the money was shells, wood sticks, 4 ton wheels of stone — the people using it agreed it had value, and the asset with the 5000 year track record is gold.

So I marked time, waiting for the day that the masses would come to the conclusion that we are being collectively screwed. Only it never happened. The average person has not at any point been consciously aware of how central banks and fractional reserve banking systems extract their wealth, and maybe only vaguely aware that the political parasite has gorged itself on the people to the point where it is killing the host.

Something had to change, and gold still wasn’t teaching people the way out.

Enter The Mother Of All Bubbles Large and Small (MOABLS)

Bitcoin passed the $1000 per Bitcoin mark in the first part of the year. It seemed obvious to me, and to many others not heavily vested in Bitcoin, that it was showing all the signs of a classic bubble.

Bartenders were bragging about being crypto investors. Strippers in Denny’s parking lots were giving Bitcoin investing tips. Conversation at Thanksgiving Dinner became Grandpa asking grandson how to invest in “this Bitcoin thing”. The leading Cryptocurrency exchange in the USA exploded with new accounts, adding hundreds of thousands of new users per day, eventually exceeding the number of brokerage accounts held by Schwab and Etrade.

By early December of 2017, Bitcoin had gone as high as BTC/USD $19,000 in intraday trading on GDAX. Not only was this absolutely meteorically mind numbingly bubble red flag territory to anyone looking at the space without a choker chain of confirmation bias, but may turn out to be the biggest bubble in percentage and time terms of any bubble in all of recorded human history.

Some advocates claim that the USD price of Bitcoin is a result of its value derived from use as a superior medium of exchange. But is this really true? Instead of charting the price, it might be informative to chart transaction volume for commercial use isolated from speculative buying. That is the data I really want to see.

No, I knew with every fiber of my being that this thing was a bubble of cosmic proportions. I knew it had to crash and burn, and that it was going to happen any moment. Woe be it to the industry when regulators came to the rescue of all the crying grandma’s who lost their money.

But what if this was no ordinary bubble

Unlike the Tulip Mania, the South Seas bubble, or many of history’s many mania’s, this one is uniquely different in one important way.

Cryptocurrency, as a bubble, is serving an incredibly rare and important purpose. For the first time in over a hundred years, there is now a discussion going on with average people about what money really is, and what we want it to be. It is causing people to examine our financial system in ways that people normally never would. The typical person carries on each day with nary a thought to how our monetary system is constructed. If you were to ask 1000 random people if they knew when the Federal Reserve System was created, who owns it, and what it really does I would be surprised if one in a thousand could tell you.

For people to cross this threshold of once again examining what we use as the basis for all economic activity, it could be the single most important influence of the entire cryptocurrency phenomenon.

Do I think Bitcoin is in a bubble? Yes, absolutely. I think there is a high likelihood we are not done seeing huge corrections in the BTC/USD price. But I also think it this does not end there.

It seems likely to me that Bitcoin and the entire cryptocurrency eco system has a ways to go before it is all grown up. The next major scare will likely send much of the grandma capital fleeing the space, with attendant repercussions from regulators.

But what will come after, may not be just another burst bubble. What will come after, I hope, is an awareness that we need to examine what our money is. That we will begin to consciously consider whether printing endless amounts of fiat currency that flows into the hands of the financial elite, widening the wealth gap and sowing the fields for future crisis is a good thing or not.

It seems we are on the cusp of a once in a millenia chance to discuss and think about what free and honest money is. A chance, that peoples labor could once again, just maybe, be their own.

Crypto’s ascendancy will hopefully serve as a wake up call. Perhaps, there is room in the future for a global decentralized system that is owned by the people, where transactions transit the globe at the speed of light, unshackled from the entrenched financial edifice, where gold too plays a role as an indestructible hedge for storing wealth. This may be the opportunity to bring awareness and discourse to what our money is, and what it is to become.

A Gold Guys View of Crypto, Bitcoin, and Blockchain

Bitcoin was on my radar far back as 2011, but for years, I didn’t think much of it.

It was a curiosity. Nothing more.

Sort of like the virtual money you use in World of Warcraft or something. In 2015, looking deeper, I slowly (not the sharpest tool in the shed) arrived at that “aha” inflection point that most advocates of honest money arrive at. I realized that a distributed public ledger has the power to change, well, everything.

Changing All The Things

One aspect of crypto that appealed to me was that this technology had the potential to bring “un-banked” people from around the world into the modern financial system. It potentially granted access to digital transactions without the use of banks for billions of people that were formerly excluded from transacting in the modern economy. People could be rewarded for their labor and have access to opportunities in ways which would not exist otherwise.

In places like Afghanistan, the local people do not go to their neighborhood super-mall to buy laptops and ipads. Much of the developing world has ever growing access to smart phones, with market penetration reaching into the billions. Developing countries are skipping the entire computer-laptop-tablet phase and moving straight into much more affordable smart/feature devices with internet access. In the Middle East and Africa, nearly all internet users are on mobile devices. Combined with crypto, all of these devices making up the internet of things grants access to a new global financial paradigm that is potentially owned by the people themselves.

Imagine a world where a teenage girl in India can start a business, sell her wares or services, and then through her phone, internet, and crypto-currency store the fruit of her labor. She can then buy an item on Amazon and have it shipped to her half-way around the world without ever having to open a bank account. This is the future that crypto-currency promises.

Having transactions validated with cryptography means we can trust the math, and not have to rely on a human intermediary or the bank. The only way to compromise the cryptography requires computing power that no private (or sovereign) entity in the world can bring to bear. I have heard one crypto expert assert that the current hashing power of the voluntary nodes processing the bitcoin algorithm has more power than all of the world’s supercomputers combined. Because it is a distributed public ledger, it means that no single entity controls it, but everyone gets to see the transactions in it. This performs the primary function of every bank since Medici, which is keeping track of where the money goes. Only now, you don’t need the bank. The technology has the potential to dis-intermediate the banks, and therefore the political class, from having total control of every aspect of peoples financial lives.

This is not to suggest that there will be no future need for banks. There is close to $200 Trillion USD value of fiat currency issued by governments around the world, and that has to find its way into crypto somehow. The existing financial system will not all of a sudden fold up and disappear. There should be ample opportunities for financial services moving forward, but there is no doubt disruption is coming.

If crypto continues on its current path, the political and financial elites who have an interest in maintaining the current system of Central Banks, taxation, and fractional reserve banking created over the last hundred years will not take it lying down. It is my view that once political elites realize the true threat cryptocurrency poses to their control, they will do everything in their power to delay, derail, and destroy it.

Believers in honest money have known this for millenia.

“A “gold war” is an attempt by the government upon the constitutional rights of the individual. Why do governments resort to gold wars? Sometimes they want to wage shooting wars without raising taxes; at other times they want to indulge in “social engineering: through the redistribution of income. But in every instance there is one common thread: governments have correctly identified gold as the only antidote against their effort to build the Tower of Babel of irredeemable debt.” — Ferdinand Lips 1972— Former Founding Director of Rothschilds Bank Switzerland

Over the years the push by politicians and financial elites towards total control of the financial system and therefore the financial lives of every person on the planet has progressed seemingly unimpeded. There is a long litany of offenses which I will not attempt to catalogue here. Anyone can probably relate to increasing taxation, financial regulatory interference in their lives, and continually worsening purchasing power. When I was a kid a movie ticket was $1.50. I just bought tickets to Stars Wars The Last Jedi for $20.50 each, and for a family of five that starts to get pricey.

This insidious process is the basis for many of society’s ills. The honesty of the money system is the first foundation upon which a free society is built. It is the most sacred and basic means of storing one’s labor and the only hope for a future better than the one we have now. For countless millions, the hope for a better future has been slowly eroded, until only the most optimistic among us can see the light, if only dimmed through the fog of battle on an endless hamster wheel of wealth chasing required in a financial system that targets a 2 pct level of inflation. Capital formation historically precedes diversification of labor, and a prolonged contraction of labor (loss of higher paid work) is a symptom of a sickly structure that disproportionately benefits rent seekers versus wage earners. These are symptoms of a broken and dishonest money system.

In the United States today, the traditional family unit has two working parents, some of which hold two jobs, and still have a lower standard of living than the generation that came before it. Average annual incomes have been in decline for close to 40 years. Combined with the inflation that has destroyed the buying power of the US dollar, many Americans find themselves with dwindling hope.

Our children are not blind to this. All of my kids, in their teenage years now, recognize that the system we are leaving to them is broken. They are not stupid. They are observant, and they can see the trends in motion, even if we, the supposed adults here, are unwilling to admit to it.

But still, with all the potential that crypto promised, I was unconvinced.

I will address some of the challenges I see, and some of the current memes that are clouding the benefits crypto has to offer to people who are looking at it for the first time.

Bear with me if you are a crypto-advocate. These are my own concerns, and I point them out not as a critic, but because it might be prudent to consider them. If you stick with me to the end of this article you will see I am not anti-crypto, but rather see it as an opportunity.

Crypto is the new gold

It is fascinating to me that Bitcoin is always being compared to gold, as if in order for it to be legitimate, it must somehow dethrone man’s most ancient form of money. Almost every visual rendering of Bitcoin I have ever seen is in the form of a gold coin.

What I don’t understand is why? Crypto has made its own place in the world by making an amazing leap forward as a medium of exchange, with thus far unrivaled capabilities. But crypto is not gold, and can never be gold. I suggest that BTC and Crypto are better as a medium of exchange, while gold is a better medium for storing value.

This is not because of some dogma I have for the metal. Some will trot out “you are just talking your book” when I mention this.

The simple fact is, out of the near 185,000 tons of estimated above ground gold, someone owns, all of it. Every fine gram of gold above ground belongs to someone already, whether that be in the form of bars, coins, jewelry, the thin layer on astronauts helmets that protect them from solar radiation, or the gold plated contacts in the mining rigs used to mine crypto. New gold mined from the ground is usually spoken for before it ever hits a refinery. My job as a physical gold fund manager is not to convince people to buy gold, that job has already been done.

The reason crypto can never replace gold lies in physics: Gold cannot be destroyed

Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.

I continue to find that in the financial professional space, gold’s utility value is widely misunderstood or isn’t understood at all. For purposes of common ground, let’s approach this from first principles. Let’s start with what we absolutely know to be true, and go from there.

Wealth is created at its most basic level, when a person expends their labor, i.e., invests human energy and creates a good or service that some entity is willing to exchange an agreed token of value for. In other words, anything in excess of what we pay for where we live, what we eat, the clothes on our back, or basic necessities to survive, is wealth, or a surplus of energy.

Once wealth is created, and we have a little bit of surplus energy, what do we do with that surplus energy? We can either invest it or store it in money.

What is money? Going back to basic economics textbooks, money is a few different things — a medium of exchange, a unit of measure, and a store of value.

I suspect many crypto-advocates will dis-like this, but I would suggest that being a medium of exchange is not the foremost utility value of money, a store of value is. There are plenty of people in Venezuela right now who have access to Bolivars as a medium of exchange, but when the value of those units of exchange plummet to near zero, they are worthless for practical purposes. If money does not retain its value, it is useless for all practical purposes of deploying ones stored labor for future use, and no amount of awesomeness as a medium of exchange will change that.

This is where gold’s true utility comes into play. Not only does gold store value, it’s the way gold stores value. Gold stores energy in a form that is indestructible. That is the key, right there, in a nutshell. I’ll say it again; gold’s utility value is the fact that it stores energy in a form that is indestructible. Unlike anything else you can invest or store money in, gold doesn’t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.

Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level.

I have heard some may say that “someday no one will value gold, so it does not matter.” Not only do we have almost 5000 years of data to show that has never occurred, but there is literally nothing on the planet earth in accessible quantities with gold’s physical properties that can replace that utility.

In a recent Twitter exchange someone said to Jim Rickards, “Jim, AI systems won’t be using gold,” and he answered back, “Gold won’t be using the power grid.” This a humorous way to make the point, but I would even take it a step further than saying gold is not just good money, it is the only form of money that is completely resistant to financial entropy. By financial entropy I mean that every other thing one can hold or invest money in requires human effort and interaction in some way or another to maintain. Bitcoin requires electricity, the internet, computers, developers, miners. Companies and fiat-issued currencies require human force of will to maintain. Stocks, bonds, and commodities all will erode over time without effort to the contrary. All of these require human will and interaction to resist the forces of entropy, otherwise they slowly self-destruct over time. The only thing that doesn’t do that as far as I know is gold

A little challenge if you will humor me: Can you think of any form of storing wealth, whether it be an investment in stocks, bonds, companies, real estate, Bitcoin or anything, that is not subject to entropy (self destruction if left alone) over time?

Finally, gold remains a critical base component of the entire global financial system. The entire above ground global stock of gold is worth approximately $7.5 Trillion in US Dollar terms, while all crypto is coming in at approx $300 Billion (grant me some leeway here, the price is moving faster than a flaming marmot).

Central banks do not hoard coffee, sugar, copper, or Bitcoin, but they do hoard gold. The US Central Intelligence Agency classifies gold as a reserve asset. ( cia.gov/library/public… ) So do top level institutions such as the IMF. At the highest levels, financial elites who manage our global financial structure know the truth of this, and you can find it buried in the details, even if they deny it in public. Watch the commentary of former Central Bank Governor’s regarding gold after they leave office for clues. More or less, they acknowledge gold is the emergency reset button if fiat loses confidence.

Crypto-currency is not gold, and can never replace the indestructibility of gold, but the two can work side by side in a new global paradigm of financial freedom and independence.

You can’t Confiscate crypto but you can confiscate gold

While partially true, this does not take into account the fact that at every point where crypto touches the fiat eco-system, it is subject to government confiscation.

Politicians figured out almost a decade ago that by controlling the chokepoints (see FATCA) such as banks, exchanges, and financial intermediaries, they are able to control the global financial system.

Crypto was designed to circumvent this, but the vast majority of the trading volume in Bitcoin is arguably for speculation. Until crypto is adopted for commercial exchange as its primary function, then touchpoints to the fiat ecosystem are a requirement. That’s called a chokepoint.

This is already in play. Check out S.1241. If this bill passes, Title 31 will redefine financial institutions to include issuers or exchangers of crypto, and they aren’t writing these new laws solely for the laughs. This is foundational law that will empower financial regulators to directly attack crypto users at key fiat-system chokepoints. Many regulations are already on the books which grant regulators authority to do this even if S.1241 fails. If you think that is conspiracy, I recommend “Treasury’s War” by Juan Zarate. Using such chokepoints is not only a matter of fact, it is a standard tool in the modern sovereign financial warfare arsenal.

Like gold, crypto can survive 100% off the grid, meaning that if it is stored and used completely apart from touching the fiat ecosystem it cannot be confiscated, but to assume its current use value is somehow immune to confiscation at any level is naive at best.

You are too dumb to understand the technology — people don’t ride around on horses anymore dude

For those of you doing it, please stop taking this position. It is not a logical argument. It also alienates the people you are trying to convince, and is not bringing more people over to crypto.

16 years in IT, and I am still a bit of a nerd when it comes to technology. I managed wide area networks, ran datacenters, etc. Today I ordered the parts for a 12 GPU mining rig I intend to build as science project and Christmas gift to me. I have read a half dozen books and dozens of articles and whitepapers on blockchain and distributed ledger technology. I am not a cryptographer, but I get it.

Most other common memes of crypto vs gold revolve around faith based arguments

These vary widely, but range from “we will soon mine asteroids and gold will become worthless”, to “when fiat fails it is crypto’s destiny to take over the smouldering remains of our financial system”….like… in accordance with the prophecy. To be fair, I know plenty of folks who think that is a role destined for gold, but saying that doesn’t make it a fact.

I have heard the argument of mining asteroids so many times it is becoming like the sand in your shorts at the beach. It is not relevant, but you still have to go rinse it out to avoid chafing. This flying unicorn idea has zero credibility because it defies basic physics. Launching spacecraft isn’t free, nor is anything else about this idea. There are cost inputs to all resource extraction activity which requires a market price to support, or it simply isn’t economic to do. Just ask the frackers.

Real Challenges Facing Crypto

I am not going to deep dive these issues, you can find ample data to support these concepts without extraneous effort.

  • Not yet proven able to withstand substantial liquidity events. The first time a hedge fund bails out of Bitcoin to the tune of a hundred million usd, we will find out how deep this rabbit hole really goes.
  • Automated Wash trading on some of the worlds largest exchanges. There are videos available which show automated wash trades occurring on one of the world’s largest crypto exchanges. For those of you not familiar with wash trades, they are pairs trades where buys happen to precisely match offer’s and intentionally trend the price higher. I don’t claim to know if these are legitimate, but they sure look that way.
  • The entire tech stack is riddled with single points of failure, and technical chokepoints subject to interference by political elites. As with most man-made systems, there are choke points. Routers DNS TCP/IP Packet level inspection culling, etc. There are ways to circumvent most of what may be thrown at crypto on these levels, but the average person has no idea how to use them, and may react adversely when they are employed.
  • Community consensus driving policy changes. I admit I am no expert on how this works, but the idea of the community deciding policy sort of short circuits the idea of this thing being driven completely by math and not depending on humans for trust.
  • Hacking. The theft of crypto from exchanges, mining pools, and wallets is becoming common. The average person is not technically literate enough to secure their crypto, and this needs a solution.
  • The need for more robust infrastructure. Blockchain transaction clearing vs current transactional infrastructure such as visa is not even in the same ballpark yet. There is currently a backlog of 106478 unconfirmed transactions on the BTC blockchain. (See the number as of this instant here https://blockchain.info/unconfirmed-transactions ) . Key exchanges are a limiting and centralized potential point of failure. During periods of heavy trade volume, the largest exchanges are down and or error 404 for extended (days) periods of time.
  • The Dawn of Quantum Computing. Quantum computing, if claims are to be believed, has the potential to make all existing cryptography obsolete.

    Twitter conversation:

Koos Jansen [gold]
@KoosJansen
Replying to @alexstanczyk @sujitnambath

Some say BTC can survive quantum (if there’s time), others say Ethereum will be quantum-proof, yet others say there is already resistant Distributed Ledger Technology.

Alex Stanczyk
@alexstanczyk
Replying to @KoosJansen @sujitnambath
Yes, but to outrun the theoretical speeds of these Quantum computers, crypto keys would have to be massive. I read one article claiming like 1 terabyte, or larger. Try storing that on a thumb drive.

And finally,

“There is only one Lord of the Ring, only one who can bend it to his will. And he does not share power.” -Gandalf

The biggest risk to the success of crypto as free market money owned by the people is entrenched political and financial elites. There is a non-zero probability that political elites will simply get together, declare crypto currency illegal, and issue their own blockchain based (non distributed) cryptocurrencies which they declare to be fiat. People may be able to use crypto as a black market (see illegal) means of exchange after that, but the powers that be will do their best to make their lives hell.

I had a brief exchange with the well known Founder & CIO of Morgan Creek Capital Management Mark Yusko, that went:

Mark: “They banned alcohol and made drugs illegal and that worked really well”

Me: “To be fair, alcohol and drugs were never a threat to the gov sovereign control of the financial lives of billions of their subjects. We may all be well served if we do not underestimate the lengths gov may go to in order to retain control of the money we use.”

Mark: Twitter Like

For Years The Answer Was Always Gold

For a decade I have believed that the only way to collectively extract ourselves from this systemically corrupt morass of modern financial slavery, was to go back to an honest form of money. Coming from a gold background, and having studied monetary history, the answer to me was obviously gold.

At the end of the day, when it comes to money the common thread throughout all of human history has been confidence in mutually agreed future value — whether the money was shells, wood sticks, 4 ton wheels of stone — the people using it agreed it had value, and the asset with the 5000 year track record is gold.

So I marked time, waiting for the day that the masses would come to the conclusion that we are being collectively screwed. Only it never happened. The average person has not at any point been consciously aware of how central banks and fractional reserve banking systems extract their wealth, and maybe only vaguely aware that the political parasite has gorged itself on the people to the point where it is killing the host.

Something had to change, and gold still wasn’t teaching people the way out.

Enter The Mother Of All Bubbles Large and Small (MOABLS)

Bitcoin passed the $1000 per Bitcoin mark in the first part of the year. It seemed obvious to me, and to many others not heavily vested in Bitcoin, that it was showing all the signs of a classic bubble.

Bartenders were bragging about being crypto investors. Strippers in Denny’s parking lots were giving Bitcoin investing tips. Conversation at Thanksgiving Dinner became Grandpa asking grandson how to invest in “this Bitcoin thing”. The leading Cryptocurrency exchange in the USA exploded with new accounts, adding hundreds of thousands of new users per day, eventually exceeding the number of brokerage accounts held by Schwab and Etrade.

By early December of 2017, Bitcoin had gone as high as BTC/USD $19,000 in intraday trading on GDAX. Not only was this absolutely meteorically mind numbingly bubble red flag territory to anyone looking at the space without a choker chain of confirmation bias, but may turn out to be the biggest bubble in percentage and time terms of any bubble in all of recorded human history.

Some advocates claim that the USD price of Bitcoin is a result of its value derived from use as a superior medium of exchange. But is this really true? Instead of charting the price, it might be informative to chart transaction volume for commercial use isolated from speculative buying. That is the data I really want to see.

No, I knew with every fiber of my being that this thing was a bubble of cosmic proportions. I knew it had to crash and burn, and that it was going to happen any moment. Woe be it to the industry when regulators came to the rescue of all the crying grandma’s who lost their money.

But what if this was no ordinary bubble

Unlike the Tulip Mania, the South Seas bubble, or many of history’s many mania’s, this one is uniquely different in one important way.

Cryptocurrency, as a bubble, is serving an incredibly rare and important purpose. For the first time in over a hundred years, there is now a discussion going on with average people about what money really is, and what we want it to be. It is causing people to examine our financial system in ways that people normally never would. The typical person carries on each day with nary a thought to how our monetary system is constructed. If you were to ask 1000 random people if they knew when the Federal Reserve System was created, who owns it, and what it really does I would be surprised if one in a thousand could tell you.

For people to cross this threshold of once again examining what we use as the basis for all economic activity, it could be the single most important influence of the entire cryptocurrency phenomenon.

Do I think Bitcoin is in a bubble? Yes, absolutely. I think there is a high likelihood we are not done seeing huge corrections in the BTC/USD price. But I also think it this does not end there.

It seems likely to me that Bitcoin and the entire cryptocurrency eco system has a ways to go before it is all grown up. The next major scare will likely send much of the grandma capital fleeing the space, with attendant repercussions from regulators.

But what will come after, may not be just another burst bubble. What will come after, I hope, is an awareness that we need to examine what our money is. That we will begin to consciously consider whether printing endless amounts of fiat currency that flows into the hands of the financial elite, widening the wealth gap and sowing the fields for future crisis is a good thing or not.

It seems we are on the cusp of a once in a millenia chance to discuss and think about what free and honest money is. A chance, that peoples labor could once again, just maybe, be their own.

Crypto’s ascendancy will hopefully serve as a wake up call. Perhaps, there is room in the future for a global decentralized system that is owned by the people, where transactions transit the globe at the speed of light, unshackled from the entrenched financial edifice, where gold too plays a role as an indestructible hedge for storing wealth. This may be the opportunity to bring awareness and discourse to what our money is, and what it is to become.

Daily technical analysis: Bitcoin — December 10 (Bitcoin/USD)

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Note that this report is written on: Dec 10, 2017 05:18AM GMT

Technical Summary Bitcoin: STRONG BUY

Moving Averages: 10 BUY / 2 SELL | Technical Indicators: 8 BUY / 0 SELL

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That’s a rather gross misunderstanding of fiat money.

U.S. dollars are not backed by anything other than the faith of the fools who accept it as payment and of other fools who agree in turn to accept it as payment from them. The main difference is that, for the moment at least, the illusion, in the case of dollars, is more widely and more fiercely believed.

That’s a rather gross misunderstanding of fiat money. And a very generous treatment of cryptocurrency.

For any national currency, be it the Euro, Dollar, Rupee, whatever…….that little piece of paper is “backed”, not by hard metal as it was in the past, but by the productive capacity of the issuing country. If the productive capacity of the issuing country is insufficient to back the amount of currency in circulation, it’s relative value falls, and the interest rate people demand to hold that country’s debt rises. If the productive capacity of the issuing country is considered sufficient, it’s relative value rises, and the interest rate people demand to hold its debt falls.

In the case of the US dollar, despite some very poor economic management and some very frightening headwinds to be dealt with in the future (entitlement funding), the productive capacity of the US remains *awesome* by international standards, and thus the relative value of the dollar is reasonably strong, and thus investors are willing to hold its debt at rates which in some cases (based on duration) actually cause them to lose money relative to inflation.

In contrast, there is no “backing” of cryptocurrencies at all, other than Keynes “animal spirits”.

Now, that doesn’t mean that cryptos are a fool’s game; but to represent it as equivalent, in any way, to a national currency; there is no productive capacity which “fixes” its value; it’s value is wholly determined by supply and demand. If it is “backed” at all (if that’s the right word), it’s backed by the desire of a small but not insignificant group of speculators who want very much to be able to transact in a currency which exists outside the money mischief of national banks.

(Unfortunately, that not insignificant group of speculators includes drug overlords, terrorist organizations, and money launderers…….but I digress.)

Don’t interpret the above as being negative on cryptocurrencies; I’m not. I’m simply critical of your characterization. Cryptos and national currencies are *not* equivalent instruments.

The Philosophy Behind Hating & Loving Bitcoin

About September 2017, Bitcoin was a little under $4k. As of this writing, it’s very close to $16k.

Thanks to Kimchi Socks and Ian Balina, I got into Bitcoin and Ether investing and studied all I could about it. Not going lie, the studying aspect of a new form of currency was (and still is) more fun than just getting the money and watching it grow.

Bitcoin is starting to get into the public’s eye now thanks in part to mainstream news reporting on it and a recent episode of The Big Bang Theory covering it (no, I didn’t watch the episode but I heard my parents watch it).

This morning, I was reading a chapter in the book The Law Of Success by Napoleon Hill and there was a very profound story the author heard from someone else.

Carl Lomen, that someone else, told the story of a Greeland Eskimo that was taken to New York City as a reward for his service. The Eskimo was amazed at the bright lights, cars, and tall building in a certain area. He went back home to tell the people of his homeland but they thought he was a liar and nicknamed him “Sagdluk”, which means “the liar”. Sagdluk carried that name until he died.

Another Greenland Eskimo named Mitek (Elder Duck) visited New York and was as similarly impressed with the city as Sagdluk. He was eager to tell his people what he saw but quickly remembered the fate of his predecessor. He instead talked about how his guide Knud Rasmussen did things the other Greenaldn Esikmos were familiar with (maintaining a kayak, hunting, etc.). This earned Mitek the respect of being a truth teller.

Both Sagdluk and Mitek had similar experiences but one was scrutnized for telling the truth while the other avoided it. Why is this?

According to Napoelon, humans prefer illusions to realities.

“Something in human nature makes us resent the impact of new ideas”

Bitcoin is still pretty new to a lot of people, despite it starting in 2009. I’ll admit, I was skeptical about the concept of electronic money until I actually invested in it and read about it.

The criticisms towards Bitcoin can be compared the criticism of Paypal. No one believed it was “real” money yet here we are in 2017, everyone and their mother is using it. Hell, I had an 80 year old client pay me with Paypal for a project!

If we go back even further, in 1994, people felt the same way about the Internet!

Anyway, new truths are often taken with a grain of salt. Stagnant minds are the breeding place of fear. As we get older, our maturity on a certain subject seems to go into hibernation. When the thought of it is brought up, we tend to react like a bear when it is woken up during its winter sleep.

“AAUUGGHHH, DON’T GIVE ME THAT NEW IDEA CRAP!!!”

Socrates and Galileo were slammed for their discoveries and those that were invested into Bitcoin were no different (though not as extreme). It wasn’t until it was “too late” for those that criticized it to see that it was indeed real. As of this writing, electronic wallet Coinbase became the number one downloaded app on Google Play.

Three months ago, Bitcoin and other cryptocurrencies being the future was a contrarian truth. It was so hard to believe back then because of the lack of mainstream press and human nature.

History seems to repeat itself with new ideas. What i’ve come to find is anything that is overhyped without years of prior preparation usually ends up being a bust (Johnny Manziel, the XFL, and the Segway are perfect examples). Bitcoin wasn’t overhyped when it first started but it took a community of users to build it up to where it is now.

The CEO of JP Morgan made it his goal to criticize and demonize Bitcoin; he went so far to call it a fraud. Today, he’s decided to go all in with it.

His criticism, like many others, came from sources that knew next to nothing about it. I’ve had my fair share of baby boomers and generation Xers tell me it was a fraud and they’ve “seen something like it before”. A lot of the commentary they’ve seen/heard about Bitcoin all said the same thing. The opinion of the public were not of their own, but from the mainstream.

I fully believe every person should make it his or her business to gather new ideas from sources other than the environment in which their daily live and work. The rabbit hole can go so far but there’s nothing wrong with alternative resources to either support or disprove one’s claim/opinion on a subject.

Who knows where Crypto Currencies and ICOs can go from here. Maybe they’ll be successful. Maybe they’ll fail. One thing’s for certain, in the words of WWE Hall Of Famer Jim Ross, business is about to pick up.

_________________________________________________________________

Until next time!
Peace and love!
Shaun

BREAKING: BTC value is now over $14,000!


BTC has skyrocketed over 2k just today! (12/6/17)

The BTC price has set a new record and it’s not stopping any time soon!

How much longer are you seriously going to wait?!

People said it was too late to invest when it was only at 3k, 5k, then 10k, but the truth is.. IT’S NOT TOO LATE!

And get this, it’s just the beginning! The BTC value is projected to be over $50k by the end of 2018!

If you were to have invested $20 in 2008 when it was worth only 2 cents, you’d have over $3.5 million dollars today..

We most likely are going to see another opportunity after this for a very long time. SO ACT NOW!

If you’re about to hop on board, be careful for scams! I myself purchased BTC through coinbase.com, a 100% secured wallet, and transferred them to Usitech-int.com (1% return daily!)

If you do purchase, it’s preferred to purchase a minimum of $60 due to the small fees. Only purchase what you’re comfortable with and always do your research!

I can help guide you through this process and get you started with letting money work for you!

Contact me at joey@revenuerevamp.com

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How I Got Lucky

By Riding The Wave

Ever gotten a tiny sliver of success once and suddenly everyone thought you owed them something?

It happens to me a lot.

I think it’s funny though.

Some just want a golden tip.

Others know for sure I had some kind of ‘secret’, a short-cut or maybe even insider information.

And one ‘friend’ just thinks I’m too lucky to live and too stupid to understand it.

But they all think I should help them to become successful too.

My standard explanation is that it took hard work, patience, skills and stamina.

But that’s not what they want to hear.

They are certain I got lucky and they want some of that luck.

And here comes the plot twist.

They are totally right.

I got lucky.

I happened to catch the right wave at the right moment and rode it like a pro.

That’s all there was to it.

Kind of.

I would have missed that wave if I thought I needed permission to surf.

Or if I didn’t know how to surf.

Or if that day I decided to lay on the couch and watch TV.

Or if I wasn’t in optimal physical and mental shape.

Or if couldn’t swim.

Or if I wasn’t standing on that beach day in and day out while others were partying.

Standing there alone in the cold for years while the ‘smart’ crowd ridicules you, that takes guts.

I hope you get the analogy by now.

My friends and family never got it.

And some are for ever going to ask me how I got that tiny sliver of success.

I’ll tell them the truth: I got lucky.

However now we both know that there was much more to it.

Whenever you see someone being extremely lucky, you should pay attention.

Because what you see is an overnight success, ten years in the making.