Bitcoin is one of 2015's biggest winners - CNBC

Kaye Scholer, law firm pushing ETF, to Host Bitcoin Seminar on October 15, 2015

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Kaye Scholer, law firm pushing ETF, to Host Bitcoin Seminar on October 15, 2015

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The Decade in Blockchain — 2010 to 2020 in Review

2010

February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later.
April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC
May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD)
June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public
July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’
July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established
August —Bitcoin protocol bug leads to emergency hard fork
December — Satoshi Nakamoto ceases communication with the world

2011

January — One-quarter of the eventual total of 21M bitcoins have been generated
February — Bitcoin reaches parity for the first time with USD
April — Bitcoin reaches parity with EUR and GBP
June — WikiLeaks begins accepting Bitcoin donations
June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin
August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines
October — Litecoin released
December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.

2012

May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue
July — Government of Estonia begins incorporating blockchain into digital ID efforts
September — Bitcoin Foundation created
October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service
November — First Bitcoin halving to 25 BTC per block

2013

February — Reddit begins accepting bitcoins for Gold memberships
March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike.
May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation
May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70
June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder
July — Mastercoin becomes the first project to conduct an ICO
August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money
October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins
November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform
December — The first commit to the Ethereum codebase takes place

2014

January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami
February — HMRC in the UK classifies Bitcoin as private money
March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not
April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger
June — Ethereum Foundation established in Zug, Switzerland
June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper
July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days
September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap
October — ConsenSys is founded by Joe Lubin
December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments

2015

January — Coinbase opens up the first U.S-based cryptocurrency exchange
February — Stripe initiates bitcoin payment integration for merchants
April — NASDAQ initiates blockchain trial
June — NYDFS releases final version of its BitLicense virtual currency regulations
July — Ethereum’s first live mainnet release—Frontier—launched.
August — Augur, the first token launch on the Ethereum network takes place
September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months
October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss
November — Announcement of first zero knowledge proof, ZK-Snarks
December — Linux Foundation establishes Hyperledger project

2016

January — Zcash announced
February — HyperLedger project announced by Linux Foundation with thirty founding members
March — Second Ethereum mainnet release, Homestead, is rolled out.
April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M
May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members
June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account
July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic
July — Second Bitcoin halving to 12.5BTC per block mined
November — CME Launches Bitcoin Price Index

2017

January — Bitcoin price breaks US$1,000 for the first time in three years
February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later
March — Multiple applications for Bitcoin ETFs rejected by the SEC
April — Bitcoin is officially recognized as currency by Japan
June — EOS begins its year-long ICO, eventually raising $4 billion
July — Parity hack exposes weaknesses in multisig wallets
August — Bitcoin Cash forks from the Bitcoin Network
October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis
September — China bans ICOs
October — Bitcoin price surpasses $5,000 USD for the first time
November — Bitcoin price surpasses $10,000 USD for the first time
December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits

2018


January — Ethereum price peaks near $1400 USD
March — Google bans all ads pertaining to cryptocurrency
March — Twitter bans all ads pertaining to cryptocurrency
April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year
April — EU government commits $300 million to developing blockchain projects
June — The U.S. Securities and Exchange Commission states that Ether is not a security.
July — Over 100,000 ERC20 tokens created
August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange
October — Bitcoin’s 10th birthday
November — VC investment in blockchain tech surpasses $1 billion
December — 90% of banks in the US and Europe report exploration of blockchain tech

2019

January — Coinstar machines begin selling cryptocurrency at grocery stores across the US
February — Ethereum’s Constantinople hard fork is released, part two of Metropolis
April — Bitcoin surpasses 400 million total transactions
June — Facebook announces Libra
July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain”
August — Ethereum developer dominance reaches 4x that of any other blockchain
October — Over 80 million distinct Ethereum addresses have been created
September — Santander bank settles both sides of a $20 million bond on Ethereum
November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
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DYK That November Is Bitcoins Strongest Month?

November is the best month price-wise. Even during the 2yr bear market. (Data from Gox/Finex)
 
*2010 +40%
*2011 +300%
*2012 +16%
*2013 +495%
*2014 +16%
*2015 +15%
*2016 +5.5%
*2017 started @ $6460
 
Now you know... and knowing is half the battle.
 
IMO
Half the people are expecting a large dump, the other half more ATH’s. I say we don't finish the month below $6460.
 
CME. Positive news cycle. No moar China. Uncertainty and contention evaporated. This is the most bullish fundamentally I have ever seen in bitcoin.
 
Lots of $ (hedge funds, institutions, family wealth) waiting for dips. Imo, correction/dips will be short-lived. Sure people wanted free coins and sold their alts to pile into BTC. That money will cycle back into alts. The new money will keep it relatively range bound until new ATH’s.
 
Dips have been short-lived all year. Seriously, look at the events that happened this year and how quickly we rebounded from each.
 
*China heavily regulates/halts withdrawals from exchanges in January
*ETF denied
*Contentious forks
*China bans ICO's
*China bans exchanges
*Competitor rises with the name Bitcoin (BCH)
 
Anyone of these events would have held us down for weeks and months prior. Each event was shorter and shorter, look at the last and final China ban, that lasted all of a week, and it was real this time. This is what I shared with my family and friends at the end of October to put into a technical perspective - https://imgur.com/a/lWzsc
 
This is a new world we live in. Comparing BTC circa 2017 to the prior is shortsighted, IMO. Positive news everywhere about crypto and its potential. To top it off we don't even have the real institutional money yet (institutional =large banks who invest/trade in the trillions per day in the markets).
 
I just don’t see a crash or a large correction happening. It feels like 2013 holidays all over again but with much better footing, a well built out infrastructure and many many exchanges worldwide.
 
Try and keep some cash on hand for large dips, just in case. Don’t have cash, but have btc? Sell a little bit (raise cash) and set targets of when you’ll buy the dip and when you will buy back in if the dip never comes.
 
In closing, if new information or news develops, things will change, and I will change my outlook accordingly. But, right now, at this moment, crypto is at its most positive state it’s ever been. Not just buy us, but by outsiders.
 
Pip pip, cheerio!
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Moon Math Update: Noob DCA Strategy -- Second Edition -- Vol. 6

Noob DCA Strategy

https://www.moonmath.win
The noob DCA strategy is ongoing. Continue making your regularly scheduled, affordable, and responsible purchases using disposable income that you can afford to lose.
We have completed 28 days in the noob DCA and there are 213 days left for you to establish your first full position in Bitcoin.

No bubbles are identical

https://www.tradingview.com/x/QsCraIAe/ Please disregard the errors in period duration in this chart. It's corrected in later charts.
The rate of change in bubble cycles shouldn't match up day over day. Instead, we should look at indicators to signal and eventually confirm market position. The chart above is meant to illustrate a possible market bottom that is historically rare. Matching up those market bottoms and stretching data to match the peaks and valleys is more illustrative.
So what happens when we do that?

Projecting the two most relevant bubbles

https://www.tradingview.com/x/tejeK3RY/ Please disregard the errors in period duration in this chart. It's corrected in later charts.
That chart takes the only two periods in the past WHERE weekly RSI is descending to historically lows levels AND there is a 6 + week following period where Weekly BBand width is less than 40%.
Looking at how these data overlap in the 55 week period following May of 2015 creeps me out. The similarities between then and now are... uncomfortably symmetric. 55 weeks is an arbitrary period of time that I marked on the chart. It's irrelevant other than the fact that it makes the pattern easier to see and it highlights the difference between price performance in preceding periods of price stability.
Past performance is not an indicator of future performance. It's also hard to believe that it's the coincidence that it is.
What happens when you stop caring about RSI and just look at extended periods of stability?

Projecting all relevant bubbles

https://www.tradingview.com/x/f8mMjUUt/
You get more data points. Not a tone more, but you get more. This chart effectively recreates one of azop 's stability charts, but in trading view. /BitcoinMarkets has a long history with projecting extended periods of stability as progenitors to bubble cycles. This is not a new concept. What distinguishes our current position is the direction and position of RSI.

Previous posts in this series

New TradingView chart published

https://www.tradingview.com/chart/BTCUSD/EwsyTSJs-Projecting-From-Stability/ had to re-publish because I defined the indicator incorrectly

Currently:

Bitcoin is potentially in a period of consolidation at the end of a large bubble cycle. Movement will seem sideways and down until indicators signal the next wave of adoption. Sentiment will remain low. Recovery will be slow for the next 7 - 15 weeks. Bitcoin obituaries are surging and general sentiment is very low.
A breakout through local resistance at 10k can happen as soon as mid July but may take until October. Significant price discovery is being established at the bottom of a new long-term trading range and may confirm the bottom of a new channel that should last through the next halving event, in 2020.
The US government seems to have greenlit development of trading desks and financial tools at major.
Crackdowns on ICOs and altcoin speculation are just beginning to kibosh unchecked growth in alt markets. Bitcoin's market domination will likely be confirmed after G20 nations implement effective regulations against rampant gambling and illegal financial tools.
Large leveraged positions against the altcoin markets still aren't available to most traders who operate in compliance with local laws, but they will probably be made available over the next 1 - 2 years.

A : Medium-term consolidation

Resistance to growth remains through June, part of July, and possibly into August. Bearish and moderate performance is accompanied by nearly unprecedented price stability. Two heavy resistance lines are broken before bullish sentiment can return.

B : New ATH sometime between September 2018 and June 2019

Heavy resistance is broken--drawn from the 2014 ATH and the January 2018 breakdown from our local ATH—and moderate sentiment keeps bitcoin in a consolidation phase under the previous ATH for many months. A new wave of adoption from new markets is eventually identified. Full capitulation from alt market speculation exposes frivolous and or fraudulent Crypto assets and securities. Government crackdowns and arrests begin to pile up in altmarket ICOs. Public outcry against abuse and fraud triggers international concern. Capital escapes from small alts to the top 5 - 10. There are less than 20 Cryptos with a market cap over 500 million USD.

C :The ascending wedge drawn from the 2013 ATH is difficult to break.

We bounce off an ascending wedge and establish a new ATH between September 2018 and July 2019. The bottom of the channel is retested near the current ATH. Capital flight into Bitcoin from alts will eventually pushes bitcoin through the resulting falling wedge.
Bitcoin's user base rapidly grows. It’s fueled by speculation that institutional adoption and an ETF are on the way. Speculation attracts a new wave of users who are disenchanted with traditional investments. Bitcoin's young male demographic starts to diversify and enter new markets internationally.
Segwit and Lightning adoption demonstrate 1000x increase in possible transaction support while significantly decreasing transaction fees. LocalBitcoin processes 15 to 30 million USD in transactions daily. Press praises Bitcoin as a tool ready or nearly ready for “Main Street.” A use case for Lightning in retail businesses is implemented in some markets.

D : Bounce off the top of the new long-term channel by October 2019

Speculative fever ignites again and Bitcoin hits the top of a new, yet to be formed, long-term channel for the first time since December 2017. Our new ATH is somewhere between 50k and 160k USD/BTC. The correction to the bottom of the channel triggers a fresh wave of obituaries.
Hitting the top of the channel signals a long-term bear market and moves the price into a comparatively moderate range, well under 100K USD. Bouncing off the top of the channel completes before speculation about the halving takes hold of sentiment in early 2020.

E : Projecting into the future

By the end of 2019, 1 million USD price targets are commonly issued from established financial institutions in the United States. The halving and its market impact are discussed regularly in mainstream media outlets. Fees are so low on lightning transactions that you can still buy a cup of coffee with Bitcoin at the speculative peak without noticing a substantial price difference.
By the end of 2020, small businesses begin to use Bitcoin as a tool to manage their supply chains without debt so their payments can be sent and received in real time. Communities that exchange value this way start to out compete large organizations and a small new economy begins to form around business that exclusively use Bitcoin and smart contracts to manage and coordinate distributed workloads and resources.
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my story; I have finally courage to speak about it

Dear BCH supporters,
I would like to share - very compact - my crypto story, my success but also my biggest mistake, which ironically made me trust BCH even more
I started in crypto in February with my first deposits.. I had been following bitcoin since 2013 ( i even remember still watching the price on a ticker go from 30 to about 120 usd in a matter of hours ), but was always afraid to actually put money in...
Last February i read about the March 11 ( then afterwards March13) bitcoin ETF decision and i thought it would not pass and therefor i was going to bet against bitcoin and for alts... I was never a maximalist btw and always thought that eventually bitcoin will be replaced by something better... it happened before many times in many industries..
Anyway, I had been reading and was intrigued by Ripple since 2015, not because i like it but simply because Banker coin, and bankers always win..
So in February/March i took all my savings around 14.000 euro and bought 50% xrp and 50% Ethereum... I caught both waves, respectively: xrp from $0.01 to about $0.2 and eth from $24 to about $300... Once ethereum hits its ceiling in June at $400 and started dipping i sold all for btc and xrp for btc and started to short Ethereum on margin on Poloniex... I was very addicted to everything ethereum and had a good grasp for the price and shorting earned me extra btc - even though i messed up there too - so that by the fork i had 80 bitcoins...
Having my btc on Trezor it took 4 days before i could move it to bittrex and 20 confirmations before i could sell my 80 BCH for 0.09... I then had around 87 Bitcoins.... Then I read the 'infamous' conspiracy 4chan message about these guys are playing high stakes poker and they are angry and have a plan ( if you remember what im referring too)...
Suddenly I felt Bitcoin Cash was indeed the real deal ( keep in mind i never took part in the scaling debate or was even much informed about this, no political involvement or opinion whatsoever)... but it was clear to me that there was a serious group in bitcoin that supported Bitcoin Cash sincerely..
So on August 6th, at 0.055 i converted all my BTC into BCH for a total number of 1311 BCH... and stored it back on my Trezor... Then the first Korean pump happened and my life became a blur...
Being unexperienced in trading and overwhelmed i became full of joy, fear and panic at the same time... i thought the flippening happened, then i read scam everywhere... i became a concern troll, i listened to Richard Heart, then to Roger Ver.. i read and read and lost control of what i knew all along...
When BCH dumped i sold low, then bought back in high, sold low in a dump , fomo'ed back in high... it became a mayhem in my head (and all of this happened within a couple of weeks)
Then came the China scare and i fucked up again and again... My crypto ''career'' was a straight line up until BCH.. And suddenly i saw my insane profits decimate continously due to my stupid behaviour...and eventually i had 500 BCH left and sold them all when BCH fell below 300 euro in October...
I was devastated because deep down inside i knew all along BCH was the right choice... but still i made shit loads of fiat money, as my parents kept telling , but i was mad as hell, and for good reason since i went full retard last fall...
A little later when BCH made its first spike back to 500 euro i regained my confidence and bought back in with half of the money i cashed out at 300, and have been in peace ever since...
Im a 30 year old with no prior experience but recently bought a cool Mercedes Benz and just bought an apartment which a year ago was not even a possibility in my wildest dreams...
Today I understand that I could have been the smart money, but im still the early adopter... I will get there, that much is certain for me.. but if there is anything to take from this for you... is that Bitcoin Cash has proven to me and the world that it is unstoppable... this sub also shows that the community is truly grass roots... so read my story and laugh at my mistakes, but know that Bitcoin Cash is the most solid (extremely volatile) investment in this world today... and the future of cash
Tell everybody in your family and friend circle... it is real...and it is growing up fast... and even though we are all in it for the money.. i am starting to understand the actual value of P2P permission less cash and what it will mean for humanity long term
Godspeed!
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Three Laws of BTC Bull and Bear Cycle and Its Applications — Freezing Point Forecast — One

Three Laws of BTC Bull and Bear Cycle and Its Applications — Freezing Point Forecast — One
📷
https://preview.redd.it/ithso6k9w7531.jpg?width=750&format=pjpg&auto=webp&s=e87d53120d9cc645b080c070afc5f9b402d56bf3
TOKEN Roll x FENBUSHI DIGITAL
Analyst: Song Shuangjie
Special Adviser: Shen Bo Rin
Guide:
The fourth price-rising cycle of BTC might commence around May 2019. The mainstream institutions join the game and ETF might be the driving force of the fourth round of price cycle.
Summary:
BTC has undergone three rounds of price cycles. ‘It is different this time’ has always been a terrible lesson for investors. The tokens, typical represented by BTC, are special in nature to other financial products, which makes it easily get mistaken that BTC will go up straightly and never decline. When the cycle power works, the asset price, which was thought to create a different history, will collapse. There are 3 major rules of the BTC price cycle:
A. BTC price cycle is closely related to its halving cycle. A complete BTC price cycle lasts for about four years. The price-rising section will commence one year ahead of the time before the output is halved. The BTC output was halved for the first time at the end of November 2012, and before that the BTC price touched the bottom in November 2011. The BTC output was halved for the second time in July 2016, as the BTC price touched the bottom in August 2015. As you can see, each time BTC output halving, is the start of a price-rising cycle, and the price speeding up begins with it.
B. BTC price fluctuation range decreases as market value increasing. The BTC’s (in circulation) market value varies with its price fluctuations, which means BTC’s price rising makes its market value increases, and the price fluctuation range decreases. It is similar to the historical process of other asset classes. During the first price cycle, the price of BTC rose by 10636 times which was the biggest gain, and the maximum drawdown was declined by 93.76%. During the second price cycle, the price of BTC rose by 623 times, and declined by 83.93% maximum. During the third price cycle, BTC rose by 98.57 times at most, the maximum declining has not been confirmed yet.
C. The innovation led by BTC is constantly evolving and more and more approved by the mainstream. From BTC to Altcoin, from Altcoin to Crowdsale, there are iconic innovations and applications in every price cycle. In the first cycle, the birth and gradual application of BTC was a landmark event. In the second cycle, with the re-emergence of BTC in 2013, the tide of the Altcoins was rampant, and a large number of Altcoins appeared. In the third cycle, Crowdsale began to be popular around the world, and many websites started to provide Crowdsale's news and discussion forum. Since 2017, Crowdsale has dominated the blockchain investment, far exceeding VCs and corporate investment. With the development of blockchain technology, the evolution of digital certification, the improvement of practitioners' awareness, and the evolution of government regulation, the innovation led by BTC has evolved and is more approved by the mainstream.
The third round of the price cycle might come to an end around May 2019, and followed by the fourth round of price cycle. The maximum rise in the BTC's fourth price-rising cycle will be smaller than last three cycles. BTC's increasing market value demands more capital. Digital token shall embrace supervision to absorb more institutional funds. ETF will be a viable solution. In the future, it will shift from Crowdsale to ETF, and from deregulation to embracing supervision.
Risk Tips: ETFs have put capital amount into this market less than that we expected. Quantum computer technology is advancing by leaps and bounds
Content
1 The First Round of Price Cycle .
2 The Second Round of Price Cycle
3 The Third Round of Price Cycle
4 Three Major Rules of BTC Price Cycle
4.1 BTC price cycle is closely related to its halving cycle
4.2 BTC price cycle is closely related to its halving cycle
4.3 BTC-led innovatioized by the mainstream
5 The new journey of BTC will Start in May 2019
List of Graphs
Graph 1: BTC Price Trend in The First Price Cycle (in USD)
Graph 2: BTC price trend in the second round of price cycle (in USD)
Graph 3: The number of tokens in 2013 has increased significantly Graph 4: BTC price trend in the third round of price cycle (in USD)
Graph 5: VIX index and BTC price are negatively correlated
Graph 6: Crowdsale has dominated blockchain investment since 2017 (millions of US dollars)
Graph 7: A large number of Crypto Funds were established in recent years.
Graph 8: ETH price trend (in USD)
Graph 9: ETH price is positively related to the size of Crowdsale financing
Graph 10: Lightning network capacity continues to grow
Graph 11: The number of lightning network channels continues to grow
Graph 12: The global Crowdsale growth rate slows down in 2018 .
Graph 13: Crowdsale’s fundraising has started to decline since 2018 .
Graph 14: Significant growth in venture capital in the blockchain sector in 2018
Graph 15: BTC block reward trend reduction
Graph 16: BTC price cycle and halving mechanism (in USD)
Graph 17: BTC market value scale trend increase
Graph 18: BTC price fluctuations become smaller
Graph 19: Admission to mainstream institutions has continued since the end of 2018
Graph 20: The third round of the price cycle may be completed around May 2019
Graph 21: The current stage of the price cycle has been probable more than half, and the downside space is limited
History doesn't repeat itself, but it does rhyme. --Mark Twain
‘It is different this time’ has always been a terrible lesson for investors. The tokens, typical represented by BTC, are special in nature to other financial products, which results in producing an idea, in some investors’ mind, that the price of BTC will go up straightly and never decline. When the cycle power works, the asset price, which was thought to create a different history, will collapse. No matter it is the A-share market of 2007 or the one of 2015, or any ‘bubble time’ in human history, the cycle power played its role. As far as BTC is concerned, its price has also experienced three rounds of cycles.
In addition, when the asset price is in a dark period of continuous decline and weak rebound, the power of the cycle also works. As long as it is a valuable asset, its price will eventually bounce back from the bottom. Opportunities have always been there, if you have an asset with high potential in hand. In the dark moments before dawn, the more you are afraid, the more you will be confused. At this time, you have to believe in the value investing. ‘Be fearful when others are greedy and be greedy when others are fearful’, not the other way around. That means, we shall invest reversely, buying undervalued assets gradually in the bottom region of price decline cycle; selling overvalued assets gradually in the top region of price-rising cycle; and following the trend in other time region of the cycle.
1 The First Round of Price Cycle
The first round of BTC price cycle lasted for 610 days, from March 2010 to November 2011, and in this cycle, BTC price rise rate was the highest of BTCs three price cycles.
The price rise stage of the first round of price cycle, from March 2010 to June 2011, lasted for 447 days. The starting price was 0.003 USD/piece, and the highest price was 31.91 USD/piece, the rise rate reached 10,636 times. The price decline section of the first round of price cycle, from June 2011 to November 2011, lasted for 163 days. In this price decline section, the starting price of BTC was $31.91 per piece, and the lowest price was $1.99 per piece. The decline rate was 94%.
On May 22, 2010, the famous BTC Pizza dealt. Laszlo Hanyecz from Jacksonville, FL, bought two pizzas with 10,000 BTCs. Each price ofBTC is less than 0.01US dollars.
In the first round of the price cycle, there is no explicit positive or negative factors causing BTC's price huge fluctuation. Fluctuations are more like in a “natural” situation. Before the first BTC bubble bursted in November 2011, its price was in a trend of increasing. The reason of rise was that the price base of BTC was very low. With the understanding of BTC gradually getting better, the demand increased, and then, the price rose. For example, June 2011, WikiLeaks and some organizations began accepting BTC donations.
https://preview.redd.it/ol9mlz0kw7531.png?width=688&format=png&auto=webp&s=7f76ac24ef02d785f56c8a770be745cfeddbb1e7
2 The Second Round of Price Cycle
The second round of BTC price cycle lasted for 1377 days, from November 2011 to August 2015, and in this cycle, the price of BTC exceeded gold for the first time.
The price rise stage of the second round of price cycle, from November 2011 to November 2013, lasted for 743 days. The starting price was $1.99 USD/piece, and the highest price was 1,242 USD/piece, the rise rate reached 623 times. The price decline section of the second round of price cycle. From November 2013 to August 2015, lasted for 634 days. In this price decline stage, the starting price of BTC was 1,242 USD per piece, and the lowest price was 199.57 USD per piece. The decline rate was 84%.
At the second price cycle, the range of application of BTC has been greatly expanded. In November 2012, WordPress began to accept BTC; and in October 2013, the world's first BTC ATM was deployed in a coffee shop in Vancouver where customers could buy and sell BTC. In November 2013, the University of Nicosia announced accepting BTC for tuition, the university's chief financial officer called it "gold of tomorrow"; In addition to some underground economy and gray economy began to accept BTC, BTC is also getting closer to daily life.
The success of BTC popularized altcoins. The first type of altcoin LTC (Litecoin) was created in October 2011, and it is the time when the BTC price came to the end of price decline. In 2011, Namecoin and SwiftCoin were born successively. In 2012, Bytecoin and Peercoin were issued, however, BTC was still in the stage of rising slowly from the bottom, and the market was not hot. Along with the re-emergence of BTC in 2013, the tide of the altcoins is rampant, and a large number of altcoins are issued. According to CoinMarketCap data, there were 66 kinds of altcoins at the end of 2013, while there were less than 10 at the beginning of the year.
The safe-haven properties of BTC are widely approved. BTC was a choice for people in many countries that are in crises. The residents flocked to BTC, hoping to maintain assets value through BTC. This phenomenon has occurred many times during the European debt crisis. For example, in early 2013, in order to get the bailout, the Cyprus government imposed taxes on deposits and imposed strict capital controls. In order to prevent property from shrinking, the Cypriot people rushed to bank runs and exchanged their currencies for BTC. The price of BTC quickly rose from 30 something to 265 US dollars.

https://preview.redd.it/slw2443lw7531.png?width=684&format=png&auto=webp&s=33181be556dbfc3a3f0e78e5c6a7674801787951
Due to the lack of supervision, BTC is often affected by negative events, which makes the market confidence in the danger of collapsing. In October 2013, the FBI seized approximately 26,000 BTCs from the Silk Road website, causing the BTC price to collapse to 110 US dollars. On December 5, 2013, the People's Bank of China banned the use of BTC by Chinese financial institutions, which made the price of BTC declined. In February 2014, Mt. Gox, the largest BTC exchange at the time, said that 850,000 BTCs of its customers were stolen, worth nearly 500 million US dollars, and BTC prices fell nearly half, from 867 to 439 US dollars.
The emergence of a large number of altcoins caused market bleeding. Since 2014, the number of altcoins has exploded. By August 2015, the number has reached 556, resulting in diversion of funds and market expansion. On May 1, 2013, BTC accounted for 94.29% of the market value of all tokens, and the market value of other tokens except the top 10 tokens was about 1%. By August 25, 2015, the proportion of BTC is about 83%, and the other tokens account for 4%, which is obvious.
No matter how magical token is, it is still a kind of asset. The mean return of value is a basic common sense of investment. The value will pull the price back to it, just like the gravity. The risk increases with the price rises, and the value appears when the price declines. In the rising section of this cycle, the price of BTC rose by 623 times, which is a great rise rate. When the price is too high, and the potential return in the future is insufficient, the attractiveness to new investors will fall, and the old investors will leave and look for more lucrative assets. Once the power of trend investors exhausted, the trend will reverse.
3 The Third Round of Price Cycle
The third round of price cycle of BTC is not over and is currently in the downward phase of the cycle. The price increased from August 2015 and lasted for 845 days till December 2017. The starting price of the price-rising cycle BTC was 199.57 USD/piece, and the highest price was close to 20,000 USD/piece. The rise rate is up to 99 times. Since December 2017, the price started to decline. The price has fallen to the lowest 3,191.30 US dollars up to now, a drop of 84%.
BTC networks expanded rapidly, and BTC has gained increasing recognition among legislators and traditional financial companies. Studies have shown that by November 2013, the commercialization of BTC is no longer driven by the underground economy, but by legitimate businesses. During this price cycle, people from more countries can get in touch with, select, trade and use BTC on a daily basis. In January 2016, Bitcoin computing capacity reached 1 exahash/S for the first time; In March 2016, the Japanese cabinet acknowledged that BTC has a function similar to real money. In 2017, Norway's largest online bank Skandiabanken integrated BTC accounts. In December 2017, Chicago Mercantile Exchange (CME) officially launched BTC futures, which is an important step for BTC to take toward mainstream investment. In October 2018, Fidelity launched its independent subsidiary Fidelity Digital Asset Services to provide digital asset services to institutional customers. In December 2018, the first round of financing was completed by the token exchange Bakkt launched by the Intercontinental Exchange. In February 2019, Nasdaq officially launched - Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX)- two indexes. The pension fund of US invests in the encryption fund, the mainstream organization is accelerating, and the relevant infrastructure is gradually improved.
BTC has become a risky asset. Under the current “three lows” environment - low interest rates, low spreads and low volatility, investors are seeking high returns, which leads to excessive financial risk behaviors and complacency, investors' risk appetite, and high leverage tools and the acceptance of high-risk products has increased, arbitrage transactions have prevailed, liquidity mismatches have been severe, and the overall market is fragile. As the results we can see that, the price of BTC is increasingly correlated with the VIX index (Chicago Options Exchange Volatility Index). A lower VIX index indicates that investors expect less volatility, while a higher VIX indicates higher expected volatility. The lower VIX index indicates that investors are optimistic about S&P 500, while the higher VIX means that investors are uncertain about the market outlook. When market volatility declines, investors buy stocks and other types of risk assets, when the market volatility rises, investors sell risky assets.
Risk assets will be dumped when risk appetite reduces panic market. BTC bid farewell to the nature of safe-haven assets and become a risky asset. Since December 2017, with the decline of the VIX index, the price of BTC rises, and the price of BTC is negatively correlated with the VIX index. At the beginning of 2018, the VIX index skyrocketed and BTC fell rapidly. In October 2018, the global market risk aversion trend increased, the VIX index went up, and the BTC price also fell sharply.

https://preview.redd.it/49ld77xlw7531.png?width=664&format=png&auto=webp&s=af5b7ff492fe7e8253640f9e6df7820a10c59f52
Crowdsale has become the main financing method in the blockchain field. Crowdsale was born in the second round of the price cycle, Mastercoin did the world's first Crowdsale in July 2013. In 2014, Ethereum also raised funds through Crowdsale, when the price of ETH was less than 0.22 USD per piece. After 2016, when it is in the third price cycle, Crowdsale is popular around the world, and many websites began to provide information and discussion communities for Crowdsale. From a global perspective, Crowdsale has dominated the blockchain investment since 2017, far exceeding VCs and corporate investment. In 2017, Crowdsale raised 7.4 billion US dollars, and in the first half of 2018, Crowdsale Raised 12 billion US dollars.
The Crypto Fund emerged. Along with the Crowdsale boom, a large number of Crypto Funds were created. The number of Crypto Funds newly established in 2017 was nearly 200, far exceeding the total amount of the Crypto funds created in previous years, which fully demonstrated that, with the rise in the price of the token, the enthusiasm of funds to blockchain field is high.

https://preview.redd.it/31badgpmw7531.png?width=659&format=png&auto=webp&s=3e7bdf4dbf07b83d405298aa57424e2b61b5d84a
The rise of blockchain 2.0, the Crowdsale tide pushed ETH up nearly 10,000 times. In the third round of the BTC (Token) price cycle, the biggest star is not BTC, but ETH. Crowdsale after 2016, issued tokens mainly through Ethereum, which represented the rise of ETH in the blockchain 2.0 era. Crowdsale prosperity boosted the rise of ETH. On January 13, 2018, the price of ETH rose to a peak of 1,432.88 US dollars per piece, which is 6512 times rise rate comparing to its initial price.
The ETH price has a significant positive correlation with the growth rate of Crowdsale financing. The growth rate of Crowdsale financing decreased by 69.23% in 2015, the price of ETH decreased by 66.30% in the same year. In 2016, the growth rate of Crowdsale financing increased by 2737.5%, and ETH increased by 753.74%. In 2017, the growth rate of Crowdsale financing increased by 3,159.91%, and ETH rose by 8809.91%.

https://preview.redd.it/ssvz3bonw7531.png?width=660&format=png&auto=webp&s=b91b15aaa7fc4333a7bf1b0bca1fb3bf7ac6fc67
Plan for public blockchain performance improvement emerged, and significant progress were made in lightning network. With the popularization of blockchains, the congestion of BTC and other public chains has gradually emerged, and performance has become one of the bottlenecks in the blockchain industry. In 2018, the performance-improvement plan of the public blockchain emerged. Improvements were made to the difference in blockchain logical architecture, including on-chain capacity expansion schemes by improving consensus mechanism and sharing, and off-chain capacity expansion schemes by status channel, sidechain, off-chain computing, and Layer 0 expansion scheme that enhance the scalability of the blockchain by optimizing the underlying data transmission protocol of the blockchain. Since the main net of BTC lightning network goes live, the number and capacity of channels have been increasing. As of March 10, 2019, the capacity has reached 790 BTC, and the number of channels has reached 35,464.

https://preview.redd.it/qfgryviow7531.png?width=660&format=png&auto=webp&s=59f8f45fb4320fcbf1dff1b50925cb9a8bfb9a7a
Note: The Unique channel refers to the channel that is directly connected to the node for the first time, and the Duplicate channel refers to the channel between the nodes that have been connected.
The standardization of the token is promoted. On January 22, 2018, South Korea required all BTC dealers to disclose their identity, thereby prohibiting anonymous trading of BTC. During the first quarter of 2018, Facebook, Google and Twitter prohibited the promotion of Crowdsale, while the US Securities and Exchange Commission investigated a large number of Crowdsale projects, and issued bans to some Crowdsale projects. Regardless of the government's attitude towards the token, it is committed to incorporating the token into the regulatory framework for legal compliance.
The Crowdsale bubble bursted and the magical story is no longer magical. According to incomplete statistics, in 2017, 871 Crowdsale were completed in the world. These projects involved directions as distributed analogous Facebook, twitter, amazon, and next-generation public chain (blockchain 3.0), etc. These projects have raised a large amount of funds, but the actual operating is worrying. The promotion of the project dissipated a large amount of funds, but the actual development progress was far less than expected, resulting in the market's expectation failure and the diversion of funds from the mainstream token. Superimposed the impact of more and more negative news, technical adjustment requirements and market sentiment fluctuation. The market enters a negative cycle, as the decline begins.

https://preview.redd.it/s51gsunpw7531.png?width=677&format=png&auto=webp&s=f3a2e01c57eece54c9d442b141194faec083350a
In 2018, there has been rapid growth in venture capital in the blockchain sector, indicating that venture capital still have good expectations about the application and future prospects of the blockchain. According to Coindesk data, the risk investment in the blockchain sector in 2018 reverse the decline of 2017, year-on-year increase of 257%, and the total amount for the year 2018 reached 3.1 billion US dollars.

https://preview.redd.it/7bujn1fqw7531.png?width=452&format=png&auto=webp&s=5719239aa4f3447b4320ea47dbe88eec766cdcae
BTC peaked first. In terms of time, in the third round of the price cycle, the first to peak is BTC, which reached 19,870.62 USD per piece in December 2017. The peak of ETH happened later than BTC, in January 2018. EOS did not peak until April. The important reason for BTC to peak first is that the amount of funds needed to support the BTC market value scale is the largest. When the market’s ability to carry on is not enough, it is inevitable for the price of BTC to react first.
4 Three Major Rules of BTC Price Cycle
The price cycle of BTC has obvious regularity, and some unchanging factors determine the price fluctuation of BTC.
4.1 BTC price cycle is closely related to its halving cycle
One full BTC price cycle lasts approximately four years. In the first round of price cycles, the measure of time span is not reliable because of the availability of BTC trading prices. The second round of the price cycle lasted for 1,377 days, from November 2011 to August 2015, about four years.
The price-rising cycle of BTC is closely related to its halving period, and the price-rising cycle starts one year before each halving. At the end of November 2012, the first production of BTC was halved, that is, the number of BTC generated by each block was 25, and in November 2011, the price of BTC has bottomed out, and the halving of BTC is one year after the second price-rising cycle. In July 2016, production of BTC was halved the second time, that is, the number of BTC generated by each block was 12.5. In August 2015, BTC had already bottomed out, and BTC's production was reduced again one year after the third price-rising cycle started.

https://preview.redd.it/9529268rw7531.png?width=445&format=png&auto=webp&s=fe1050eefe6d70403ddcdc053bdbccb0bc47818f
BTC output halving blows the horn of each price-rising cycle, and the price speeding up begin. Although it is not BTC output halving that brings the price-rising cycle, but the halving of BTC output significantly reduced the growth rate of BTC supply, speeding up the rise of BTC price and the price-rising cycle. From November 2011 to November 2012, before the halving of BTC output, BTC increased by 6.74 times in one year. From November 2012 to November 2013, BTC price increased by 99.57 times. In the third price-rising cycle, BTC price rose by a maximum of 2.87 times in about 11 months before the production cut. After halving, BTC price rose by a maximum of 29.73 times in about 11 months.

https://preview.redd.it/dft83mprw7531.png?width=687&format=png&auto=webp&s=82014d03eaee7136a6995a1b2df1faa9d22c6a5f
4.2 BTC price cycle is closely related to its halving cycle
The change in the market value scale of BTC (circulation) is mainly caused by its price fluctuations, and has little to do with the changes in the total amount of BTC output. According to CMC data, by April 28, 2013, the total amount of BTC that had been mined was about 11.18 million pieces, which is more than 53% of the total amount of BTC of 21 million pieces. The halving mechanism of BTC also accelerated the marginal decline of BTC total growth rate. Compared with the amount of BTC already mined, the new supply of BTC is very insignificant. In addition, the volatility of BTC prices far exceeds the volatility of BTC's total output, and the market value of BTC fluctuates with its price.
The market value of BTC has increased in trend. Because of the trend of BTC price-rising, the number of BTC total output has also increased in one direction, and the market value of BTC has increased in the long run. According to CMC data, on April 28, 2013, BTC's market value in circulation was only 1.5 billion US dollars. By the peak of the third price-rising cycle, the market value increased to 326.1 billion US dollars, and the current market value also reached 113.8 billion US dollars, increased by 74.87 times.
The price volatility of BTC is gradually getting smaller. With the increasing of BTC market value in trend, the BTC market is becoming more and more mature, more and more accepted by the public, more and more professional organizations are participating, the compliance operation is becoming mainstream, and the BTC price volatility is decreasing. Similar to the historical process of other asset classes, and the same thing is repeated again and again. In the first price cycle, the price of BTC increased by 10636 times, and the fell by 93.76% maximum. In the second price cycle, the price of BTC increased by 623 times, and fell by 83.93% maximum. In the third price cycle, the maximum increase of BTC price was 98.57 times, and the biggest decline has not been confirmed

https://preview.redd.it/kmk5qeesw7531.png?width=674&format=png&auto=webp&s=bf9d8fd61b833c87c3f859a3bf0f4f63b9c0ff88
4.3 BTC-led innovation continues to evolve and is more and more recognized by the mainstream
From BTC to Altcoin, from Altcoin to Crowdsale, there are iconic innovations and applications in every price cycle. In the first cycle, the birth and gradual application of BTC was a landmark event. In the second cycle, with the re-emergence of BTC in 2013, the tide of the Altcoins was rampant, and a large number of Altcoins appeared. In the third cycle, Crowdsale began to be popular around the world, many websites started to provide Crowdsale's news and discussion forum. Since 2017, Crowdsale has dominated the blockchain investment, far exceeding VCs and corporate investment.
The original intention of Nakamoto to create BTC is to establish a more efficient means of trading that can be electronically transferred in a safe, verifiable and non-tamperable form. During the early days of bitcoin and blockchain development, this drove the development of most applications of BTC and blockchain. However, with the development of blockchain technology, the evolution of digital token, the recognition of practitioners, and the evolution of government regulation, the changes led by BTC continue to evolve and gain more mainstream recognition.
More and more countries recognize that the blockchain reflects its unique value in many fields. The government has gradually incorporated digital token into regulation, and mainstream institutions are increasingly recognizing BTC. In 2017, the Chicago Mercantile Exchange (CME) officially launched BTC futures, as BTC took an important step toward mainstream investment, improving the accessibility of BTC to traditional financial institutions. In March 2017, Cameron's Cliveworth and Taylor W. Crawworth brothers attempted to submit an application to the US Securities and Exchange Commission for BTC ETF (transactional open-ended index fund). Although on September 22, 2018, US Securities and Exchange Commission rejected nine BTC ETF applications, the approval of BTC ETF application is a high probability event in the long run. With the continuous improvement of related infrastructure and the gradual maturity of the market, the pace of institutional entry has shown signs of acceleration. Since the end of 2018, news about the organization of encrypted assets by mainstream institutions has continued.

https://preview.redd.it/pf0u2patw7531.png?width=349&format=png&auto=webp&s=eb603172001520e62eee309e8d37df44c4f8bad9
5 The new journey of BTC will Start in May 2019
The fourth price-rising cycle of BTC will start in May 2019, and mainstream institutions will enter the market, while ETF may become the core trend of the fourth round of BTC price cycle.
From the perspective of supply, the third halving of BTC begins around May 21, 2020. The price-rising cycle of BTC is closely related to its halving period. The price-rising cycle starts about one year before halving. From this perspective, the BTC price-rising cycle may be opened around May 2019.

https://preview.redd.it/29dzwhwtw7531.png?width=695&format=png&auto=webp&s=7e69a27442cd093611027fd067cb4bbd784cb2b0
From the time dimension, the complete BTC price cycle lasts for about four years. The third round of the price cycle, which started in August 2015, will be completed around August 2019, and the fourth round of the price cycle of BTC will begin thereafter. Considering that the data in the second round of the price cycle is more reliable, only the second round of price cycle data is used as the measurement standard, the complete price cycle is 1377 days, about 3 years and 9 months, and the third round price cycle may end around May 2019.
Combined with the previous two BTC price cycles, the downturn phase of the current price cycle has been probably more than half, and further downside space is limited. In the first two rounds of the price cycle, the duration of the downlink phase is less than the duration of the uplink phase. The duration of the third phase of the price cycle has been confirmed (845 days), while the duration of the downturn phase has been more than half of the upstream phase (450 days). From the first two rounds of the price cycle, the rapid decline in prices occurred in the early stage of the downtrend phase. The price fluctuations of BTC in the second half of the downturn phase have been significantly reduced. The BTC price declines reached 61% in the first half and 74% in the second round of the price cycle, and the corresponding maximum declines in BTC were 94% and 84% respectively. In the current round of the price cycle, the biggest drop has reached 84%, so take it from now, even if the price is further down, the downside space is already limited.
https://preview.redd.it/kra7vduuw7531.png?width=684&format=png&auto=webp&s=4f1eda32d42a15b4e34ebfa5dbdaee78065ab110
Note: The data of the third round of the price cycle and the total duration are up to March 12, 2019.
From the price dimension, the downside space of the current round of BTC prices is limited, and the maximum increase of BTC's fourth price-rising cycle will become smaller. In the first price cycle, the price of BTC increased by 10636 times, and fell by 93.76% maximum. In the second price cycle, the price of BTC increased by 623 times, and fell by 83.93% maximum. In the third price cycle, the maximum increase of BTC price was 98.57 times, and the biggest decline has not been confirmed. On February 6, 2018, BTC fell to a minimum of 3,191.30 US dollars per piece, drop by 84.07%, has reached the low of second round of price cycle, from the perspective of price adjustment, BTC price downside has been more limited. The maximum increase in the fourth price-rising cycle of BTC will be smaller.
From the perspective of risk, after a year of continuous adjustment, BTC prices have fully fallen, risks have been gradually released, and investor’s risk appetite has risen to create favorable conditions for BTC prices to stabilize. Beginning at the end of December 2018, the VIX index has fallen, and now it has reached 15 or below. The investor's risk appetite has gradually picked up, creating favorable conditions for the BTC price to rise stably.
Last but not least, from the perspective of capital, the mainstream institutions accelerated their entry and many positive signals were released. With the continuous improvement of related infrastructure and the gradual maturity of the market, the pace of institutional entry has shown signs of acceleration. Since 2018, on the one hand, the entry of mainstream institutions can bring incremental funds to the entire market, on the other hand, it also contributes to the formal development of the entire industry.
The value of the BTC's market value in circulation continues to increase, and the digital token embraces regulation. It is expected that the ETF will be the core trend in the fourth price cycle. As the value of the BTC and digital token market increases, their use will be more tied-up to legitimate use than illegal activities. According to the US Drug Enforcement Administration (DEA) data, only 10% of the current BTC transactions is related to illegal activities and 90% is used for legal transactions. BTC's increasingly large market value requires more financial support. Digital token will embrace supervision to absorb more funds, and ETF will be a viable solution. In the future, there is going to be an evolution from Crowdsale to ETF, from regulation to embrace supervision.
Note:
Although in this report, we try to predict the bottom and time of Token, especially BTC, by using time and space cycle, we would like to tell investors that it is very dangerous to invest basing on a specific dot and time. An investment shall base on the assessment of the value of the token.
Here are our suggestions: 1. Do not try to predict the market. Mistakes are liable to happen when you try to predict market harshly. 2. Feel the cycle. Cycle is always there, because of the constant human nature;3. Be with a good Token, which will bring you more chance to win. 4.Keep valuation in mind. The most important thing in value investing is to keep the valuation in mind. If the price is reasonable, everything is getable. The key is the difference between price and value (Absolute valuation method is not available with Token because of its specialty. However, a relative valuation method can be applied. Please refer to Token Toll’s report series).
Notions:
For some reasons, some definition in this report are not very defined, such as: Token, Digital Token, Digital Currency, Currency, Crowdsale, etc.
If you have any questions, be free to call us to discuss with us.

https://preview.redd.it/bjnu2hjvw7531.png?width=698&format=png&auto=webp&s=43df46d8337c63a52b8a7089ed5e24360f3b281d
submitted by Token_Roll to u/Token_Roll [link] [comments]

Gradually scaling into bitcoin and possibly ethereum.

My confidence in the crypto markets is strengthening as the price rises. While we're still less than half of ATH, i'm getting more and more certain that capitulation is behind us. Support levels are building.
This recent run-up is very similar to the "$500 FOMO pop" that happened in 2015 between October to december. After a period of relative calm the cash-heavy believers starting buying again believing capitulation was over. Markets suddenly picked up and everyone else was so taken aback by this that they FOMOed in. But like all spikes there is a burn off/correction period that happened afterward.
We seem to be in that period now. This is a good time to gradually scale in if you're becoming bullish like i am. I've added 5000 shares of GBTC to my previous position established two months ago. Although i believe some more burn off will happen so no need to panic buy. As usual only play with fuck-you money. I'm still not confident enough to play with speculative money or even gambling money.
Nonetheless, i firmly believe capitulation is behind us.
On a different note, i'm looking at ethereum as a lagging play. It seems the altcoin markets lag the bitcoin markets. This is especially apparent in the previous 2017 bubble when ethereum peaked a month AFTER bitcoin did. So the idea is that you hold ethereum and sell a few weeks after bitcoin tanks.
The reason why the lagging effect occurs is from new money crypto morons enthusiasts looking to make a profit and seeing bitcoin but being scared off by the price. so they pile into altcoins and in turn drive their price up. They believe there is more profit to be made in altcoins than bitcoin, and for the most part this is true if you pick the right coin (but let's be honest, most altcoins are scams or very poorly managed).
Also, bitcoin traders that just got burned by the bubble pop are looking to recoup their losses so they're being irrational and try to chase altcoins.
I'm still thinking about playing ethereum. Since there is no ETF, or financial instrument like GBTC for ethereum that i can easily buy, playing ethereum is harder for me. I'm still researching.
submitted by GBTC4me to u/GBTC4me [link] [comments]

AXA/Blockstream are suppressing Bitcoin price at 1000 bits = 1 USD. If 1 bit = 1 USD, then Bitcoin's market cap would be 15 trillion USD - close to the 82 trillion USD of "money" in the world. With Bitcoin Unlimited, we can get to 1 bit = 1 USD on-chain with 32MB blocksize ("Million-Dollar Bitcoin")

TL;DR:
~ YouDoTheMath u/ydtm
Details:
(1) Who is AXA? Why and how would they want to suppress the Bitcoin price?
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
https://np.reddit.com/btc/comments/47zfzt/blockstream_is_now_controlled_by_the_bilderberg/
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
https://np.reddit.com/btc/comments/4r2pw5/if_bitcoin_becomes_a_major_currency_then_tens_of/
The insurance company with the biggest exposure to the 1.2 quadrillion dollar (ie, 1200 TRILLION dollar) derivatives casino is AXA. Yeah, that AXA, the company whose CEO is head of the Bilderberg Group, and whose "venture capital" arm bought out Bitcoin development by "investing" in Blockstream.
https://np.reddit.com/btc/comments/4k1r7v/the_insurance_company_with_the_biggest_exposure/
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
https://np.reddit.com/btc/comments/4mlo0z/greg_maxwell_used_to_have_intelligent_nuanced/
Who owns the world? (1) Barclays, (2) AXA, (3) State Street Bank. (Infographic in German - but you can understand it without knowing much German: "Wem gehört die Welt?" = "Who owns the world?") AXA is the #2 company with the most economic poweconnections in the world. And AXA owns Blockstream.
https://np.reddit.com/btc/comments/5btu02/who_owns_the_world_1_barclays_2_axa_3_state/
(2) What evidence do we have that Core and AXA-owned Blockstream are actually impacting (suppressing) the Bitcoin price?
This trader's price & volume graph / model predicted that we should be over $10,000 USD/BTC by now. The model broke in late 2014 - when AXA-funded Blockstream was founded, and started spreading propaganda and crippleware, centrally imposing artificially tiny blocksize to suppress the volume & price.
https://np.reddit.com/btc/comments/5obe2m/this_traders_price_volume_graph_model_predicted/
This graph shows Bitcoin price and volume (ie, blocksize of transactions on the blockchain) rising hand-in-hand in 2011-2014. In 2015, Core/Blockstream tried to artificially freeze the blocksize - and artificially froze the price. Bitcoin Classic will allow volume - and price - to freely rise again.
https://np.reddit.com/btc/comments/44xrw4/this_graph_shows_bitcoin_price_and_volume_ie/
Also see a similar graph in u/Peter__R's recent article on Medium - where the graph clearly shows the same Bitcoin price suppression - ie price uncoupling from adoption and dipping below the previous tightly correlated trend - starting right at that fateful moment when Blockstream came on the scene and told Bitcoiners that we can't have nice things anymore like on-chain scaling and increasing adoption and price: late 2014.
Graph - Visualizing Metcalfe's Law: The relationship between Bitcoin's market cap and the square of the number of transactions
https://np.reddit.com/btc/comments/574l2q/graph_visualizing_metcalfes_law_the_relationship/
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
https://np.reddit.com/btc/comments/4dfb3bitcoin_has_its_own_e_mc2_law_market/
1 BTC = 64 000 USD would be > $1 trillion market cap - versus $7 trillion market cap for gold, and $82 trillion of "money" in the world. Could "pure" Bitcoin get there without SegWit, Lightning, or Bitcoin Unlimited? Metcalfe's Law suggests that 8MB blocks could support a price of 1 BTC = 64 000 USD
https://np.reddit.com/btc/comments/5lzez2/1_btc_64_000_usd_would_be_1_trillion_market_cap/
(3) "But no - they'd never do that!"
Actually - yes, they would. And "they" already are. For years, governments and central bankers have been spending trillions in fiat on wars - and eg suppressing precious metals prices by flooding the market with "fake (paper) gold" and "fake (paper) silver" - to prevent the debt- & war-backed PetroDollar from collapsing.
The owners of Blockstream are spending $76 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.
https://np.reddit.com/btc/comments/5q6kjo/the_owners_of_blockstream_are_spending_76_million/
JPMorgan suppresses gold & silver prices to prop up the USDollar - via "naked short selling" of GLD & SLV ETFs. Now AXA (which owns $94 million of JPMorgan stock) may be trying to suppress Bitcoin price - via tiny blocks. But AXA will fail - because the market will always "maximize coinholder value"
https://np.reddit.com/btc/comments/4vjne5/jpmorgan_suppresses_gold_silver_prices_to_prop_up/
Why did Blockstream CTO u/nullc Greg Maxwell risk being exposed as a fraud, by lying about basic math? He tried to convince people that Bitcoin does not obey Metcalfe's Law (claiming that Bitcoin price & volume are not correlated, when they obviously are). Why is this lie so precious to him?
https://np.reddit.com/btc/comments/57dsgz/why_did_blockstream_cto_unullc_greg_maxwell_risk/
If you had $75 million invested in Blockstream, and you saw that stubbornly freezing the blocksize at 1 MB for the next year was clogging up the network and could kill the currency before LN even had a chance to roll out, wouldn't you support an immediate increase to 2 MB to protect your investment?
https://np.reddit.com/btc/comments/48xm28/if_you_had_75_million_invested_in_blockstream_and/
[Tinfoil] What do these seven countries have in common? (Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran) In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS).
https://np.reddit.com/bitcoin_uncensored/comments/3yits0/tinfoil_what_do_these_seven_countries_have_in/
(4) What can we do to fight back and let Bitcoin's price continue to rise again?
  • Reject the Central Blocksize Planners at Core/Blockstream - and the censors at r\bitcoin.
  • Install Bitcoin Unlimited, which supports market-based blocksize in accordance with Satoshi's original vision.
  • Be patient - and persistent - and decentralized - and Bitcoin will inevitably win.
The moderators of r\bitcoin have now removed a post which was just quotes by Satoshi Nakamoto.
https://np.reddit.com/btc/comments/49l4uh/the_moderators_of_rbitcoin_have_now_removed_a/
"Notice how anyone who has even remotely supported on-chain scaling has been censored, hounded, DDoS'd, attacked, slandered & removed from any area of Core influence. Community, business, Hearn, Gavin, Jeff, XT, Classic, Coinbase, Unlimited, ViaBTC, Ver, Jihan, Bitcoin.com, btc" ~ u/randy-lawnmole
https://np.reddit.com/btc/comments/5omufj/notice_how_anyone_who_has_even_remotely_supported/
"I was initially in the small block camp. My worry was decentralization & node count going down as a result. But when Core refused to increase the limit to 4MB, which at the time no Core developer thought would have a negative effect, except Luke-Jr, I began to see ulterior motives." u/majorpaynei86
https://np.reddit.com/btc/comments/5748kb/i_was_initially_in_the_small_block_camp_my_worry/
Satoshi Nakamoto, October 04, 2010, 07:48:40 PM "It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit / It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete."
https://np.reddit.com/btc/comments/3wo9pb/satoshi_nakamoto_october_04_2010_074840_pm_it_can/
The debate is not "SHOULD THE BLOCKSIZE BE 1MB VERSUS 1.7MB?". The debate is: "WHO SHOULD DECIDE THE BLOCKSIZE?" (1) Should an obsolete temporary anti-spam hack freeze blocks at 1MB? (2) Should a centralized dev team soft-fork the blocksize to 1.7MB? (3) OR SHOULD THE MARKET DECIDE THE BLOCKSIZE?
https://np.reddit.com/btc/comments/5pcpec/the_debate_is_not_should_the_blocksize_be_1mb/
"Bitcoin Unlimited ... makes it more convenient for miners and nodes to adjust the blocksize cap settings through a GUI menu, so users don't have to mod the Core code themselves (like some do now). There would be no reliance on Core (or XT) to determine 'from on high' what the options are." - ZB
https://np.reddit.com/btc/comments/3zki3h/bitcoin_unlimited_makes_it_more_convenient_fo
Bitcoin Unlimited is the real Bitcoin, in line with Satoshi's vision. Meanwhile, BlockstreamCoin+RBF+SegWitAsASoftFork+LightningCentralizedHub-OfflineIOUCoin is some kind of weird unrecognizable double-spendable non-consensus-driven fiat-financed offline centralized settlement-only non-P2P "altcoin"
https://np.reddit.com/btc/comments/57brcb/bitcoin_unlimited_is_the_real_bitcoin_in_line/
The Nine Miners of China: "Core is a red herring. Miners have alternative code they can run today that will solve the problem. Choosing not to run it is their fault, and could leave them with warehouses full of expensive heating units and income paid in worthless coins." – tsontar
https://np.reddit.com/btc/comments/3xhejm/the_nine_miners_of_china_core_is_a_red_herring/?st=iz7029hc&sh=c6063b52
ViABTC: "Why I support BU: We should give the question of block size to the free market to decide. It will naturally adjust to ever-improving network & technological constraints. Bitcoin Unlimited guarantees that block size will follow what the Bitcoin network is capable of handling safely."
https://np.reddit.com/btc/comments/574g5l/viabtc_why_i_support_bu_we_should_give_the/
Fun facts about ViaBTC: Founded by expert in distributed, highly concurrent networking from "China's Google". Inspired by Viaweb (first online store, from LISP guru / YCombinator founder Paul Graham). Uses a customized Bitcoin client on high-speed network of clusters in US, Japan, Europe, Hong Kong.
https://np.reddit.com/btc/comments/57e0t8/fun_facts_about_viabtc_founded_by_expert_in/
Bitcoin's specification (eg: Excess Blocksize (EB) & Acceptance Depth (AD), configurable via Bitcoin Unlimited) can, should & always WILL be decided by ALL the miners & users - not by a single FIAT-FUNDED, CENSORSHIP-SUPPORTED dev team (Core/Blockstream) & miner (BitFury) pushing SegWit 1.7MB blocks
https://np.reddit.com/btc/comments/5u1r2d/bitcoins_specification_eg_excess_blocksize_eb/
The number of blocks being mined by Bitcoin Unlimited is now getting very close to surpassing the number of blocks being mined by SegWit! More and more people are supporting BU's MARKET-BASED BLOCKSIZE - because BU avoids needless transaction delays and ultimately increases Bitcoin adoption & price!
https://np.reddit.com/btc/comments/5rdhzh/the_number_of_blocks_being_mined_by_bitcoin/
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
https://np.reddit.com/btc/comments/4kxtq4/i_think_the_berlin_wall_principle_will_end_up/
submitted by ydtm to btc [link] [comments]

DYK November Is Bitcoins Strongest Month...

November is the best month price-wise. Even during the 2yr bear market.
(Data from Gox/Finex)
 
 
Now you know... and knowing is half the battle!
 
IMO
Half the people are expecting a large dump, the other half more ATH’s. I say we don't finish the month below $6460.
 
CME. Positive news cycle. No moar China. Uncertainty evaporated. This is the most bullish fundamentally I have ever seen bitcoin.
 
Lots of $ (hedge funds, institutions, family wealth) waiting for dips. Correction/dips will be short-lived. Dips have been short-lived all year. Seriously, look at the events that happened this year and how quickly we rebounded from each.
 
 
Anyone of these events would have held us down for months prior. Each event was shorter. Look at the last and final China ban, that lasted all of a week, and it was real this time.
This is what I shared with my family/friends towards the end of October, (I like to keep them updated) - https://imgur.com/a/PXvns
 
This is a new world we live in. Comparing BTC circa 2017 to any BTC prior is extremely shortsighted. We are in uncharted territory, and all I see is up. Positive news everywhere about crypto and its potential. To top it off we don't even have the real institutional money yet (institutional = large banks/funds who invest/trade in the billions per day in the markets).
 
I just don’t see a crash or a large correction happening. It feels like the 2013 holidays all over again but with much better footing, foundation, and infrastructure.
 
In closing, if new information develops, things will change, and I will change my outlook accordingly. But, right now, at this moment, crypto is at the most positive state it’s ever been.
 
Pip pip, cheerio!
   
Edit: I posted this in trading subs last week, and was told I was an idiot over the weekend. How quickly things can rebound. Again, proving my point, dips will be short-lived.
 
Called the segwit2x cancellation days prior, due to evidence, not feels. Rewarded well over the weekend from that call. https://np.reddit.com/btc/comments/7alpqk/why_the_price_of_bitcoin_cash_is_rising_and_what/
 
I put my real trades on twitter in real time, does anyone else do this? (I'd like to know and compare, leave a comment) See if I'm worth a shit, @SirLamboMoon - https://twitter.com/SirLamboMoon
submitted by SirLamboMoon to Bitcoin [link] [comments]

DYK That November Is Bitcoins Strongest Month?

November is the best month price-wise. Even during the 2yr bear market. (Data from Gox/Finex)
 
*2010 +40%
*2011 +300%
*2012 +16%
*2013 +495%
*2014 +16%
*2015 +15%
*2016 +5.5%
*2017 started @ $6460
 
Now you know... and knowing is half the battle.
 
IMO
Half the people are expecting a large dump, the other half more ATH’s. I say we don't finish the month below $6460.
 
CME. Positive news cycle. No moar China. Uncertainty and contention evaporated. This is the most bullish fundamentally I have ever seen in bitcoin.
 
Lots of $ (hedge funds, institutions, family wealth) waiting for dips. Imo, correction/dips will be short-lived. Sure people wanted free coins and sold their alts to pile into BTC. That money will cycle back into alts. The new money will keep it relatively range bound until new ATH’s.
 
Dips have been short-lived all year. Seriously, look at the events that happened this year and how quickly we rebounded from each.
 
*China heavily regulates/halts withdrawals from exchanges in January
*ETF denied
*Contentious forks
*China bans ICO's
*China bans exchanges
*Competitor rises with the name Bitcoin
 
Anyone of these events would have held us down for weeks and months prior. Each event was shorter and shorter, look at the last and final China ban, that lasted all of a week, and it was real this time. This is what I shared with my family and friends at the end of October to put into a technical perspective - https://imgur.com/a/PXvns
 
This is a new world we live in. Comparing BTC circa 2017 to the prior is shortsighted, IMO. Positive news everywhere about crypto and its potential. To top it off we don't even have the real institutional money yet (institutional =large banks who invest/trade in the trillions per day in the markets).
 
I just don’t see a crash or a large correction happening. It feels like 2013 holidays all over again but with much better footing, a well built out infrastructure and many many exchanges worldwide.
 
Try and keep some cash on hand for large dips, just in case. Don’t have cash, but have btc? Sell a little bit (raise cash) and set targets of when you’ll buy the dip and when you will buy back in if the dip never comes.
 
In closing, if new information or news develops, things will change, and I will change my outlook accordingly. But, right now, at this moment, crypto is at its most positive state it’s ever been. Not just buy us, but by outsiders.
 
Pip pip, cheerio!
submitted by SirLamboMoon to CryptoCurrency [link] [comments]

JPMorgan suppresses gold & silver prices to prop up the USDollar - via "naked short selling" of GLD & SLV ETFs. Now AXA (which owns $94 million of JPMorgan stock) may be trying to suppress Bitcoin price - via tiny blocks. But AXA will fail - because the market will always "maximize coinholder value"

TL;DR
As a bitcoin user (miner, hodler, investor) you have all the power - simply due to the nature of markets and open-source software. Core/Blockstream, and their owners at AXA, can try to manipulate the market and the software for a while, by paying off devs who prefer tiny blocks, or censoring the news, or conducting endless meetings - but in the end, you know that they have no real control over you, because endless meetings are bullshit, and code and markets are everything.
Bitcoin volume, adoption, blocksize and price have been rising steadily for the past 7 years. And they will continue to do so - with or without the cooperation of Core/Blockstream and the Chinese miners - because just like publicly held corporations always tend to "maximize shareholder value, publicly held cryptocurrencies always tend to "maximize coinholder value".
How much of a position does AXA have in JPMorgan?
AXA currently holds about $94 million in JPMorgan stock.
http://zolmax.com/investing/axa-has-94718000-position-in-jpmorgan-chase-co-jpm/794122.html
https://archive.is/HExxH
Admittedly this is not a whole lot, when you consider that the total of JPMorgan's outstanding shares is currently around USD 3.657 billion.
But still it does provide a suggestive indication of how these big financial firms are all in bed with each other. Plus the leaders of these big financial firms also tend to hang out which each other professionally and socially, and are motivated to protect the overall system of "the legacy ledger of fantasy fiat" which allows them to rule the world.
How does JPMorgan use paper GLD and SLV ETFs to suppress the price of physical gold and silver?
As many people know, whistleblower Andrew Maguire exposed the massive criminal scandal where JPMorgan has been fraudulently manipulating gold and silver prices for years.
JPMorgan does this via the SLV and GLD ETFs (Exchange Traded Funds).
The reason they do it is in order to artificially suppress the price of gold and silver using "naked short-selling":
https://duckduckgo.com/?q=andrew+maguire+gata+jpmorgan+nake+short&t=hd&ia=videos
How exactly does JPMorgan manage to commit this kind of massive fraud?
It's easy!
There's actually about 100x more "phantom" or fake silver and gold in existence (in the form of "paper" certificates - SLV and GLD ETFs) - versus actual "physical" gold and silver that you can take delivery on and hold in your hand.
That means that if everyone holding fake/paper SLV & GLD ETF certificates were to suddenly demand "physical delivery" at the same moment, then only 1% of those people would receive actual physical silver and gold - and the rest would get the "equivalent" in dollars. This is all well-known, and clearly spelled out in the fine print of the GLD and SLV ETF contracts.
(This is similar to "fractional reserve" where almost no banks have enough actual money to cover all deposits. This means that if everyone showed up at the bank on the same day and demanded their money, the bank would go bankrupt.)
So, in order to fraudulently suppress the price of gold and silver (and, in turn, prevent the USDollar from crashing), JPMorgan functions as a kind of "bear whale", dumping "phantom" gold and silver on the market in the form of worthless "paper" SLV and GLD ETF certificates, "whenever the need arises" - ie, whenever the US Dollar price starts to drop "too much", and/or whenever the gold and silver prices start to rise "too much".
(This is similar to the "plunge protection team" liquidity providers, who are well-known for preventing stock market crashes, by throwing around their endlessly printed supply of "fantasy fiat", buying up stocks to artificially prevent their prices from crashing. This endless money-printing and market manipulation actually destroys one of the main purposes of capitalism - which is to facilitate "price discovery" in order to reward successful companies and punish unsuccessful ones, to make sure that they actually deliver the goods and services that people need in the real world.)
Is there an ELI5 example of how "naked short selling" works in the real world?
Yes there is!
The following example was originally developed by Overstock CEO Patrick Byrne - who, as many people know, is very passionate about using Bitcoin not only as cash, but also to settle stock trades - because his company Overstock got burned when Wall Street illegally attacked it using naked short selling:
Here's how naked short-selling works: Imagine you travel to a small foreign island on vacation. Instead of going to an exchange office in your hotel to turn your dollars into Island Rubles, the country instead gives you a small printing press and makes you a deal: Print as many Island Rubles as you like, then on the way out of the country you can settle your account. So you take your printing press, print out gigantic quantities of Rubles and start buying goods and services. Before long, the cash you’ve churned out floods the market, and the currency's value plummets. Do this long enough and you'll crack the currency entirely; the loaf of bread that cost the equivalent of one American dollar the day you arrived now costs less than a cent.
With prices completely depressed, you keep printing money and buy everything of value - homes, cars, priceless works of art. You then load it all into a cargo ship and head home. On the way out of the country, you have to settle your account with the currency office. But the Island Rubles you printed are now worthless, so it takes just a handful of U.S. dollars to settle your debt. Arriving home with your cargo ship, you sell all the island riches you bought at a discount and make a fortune.
http://www.rollingstone.com/politics/news/wall-streets-naked-swindle-20100405
Why isn't anybody stopping JPMorgan from using "naked short selling" to fraudulently suppress gold and silver prices?
Because "certain people" benefit!
Of course, this "naked short selling" (selling a "phantom" asset which doesn't actually exist in order to suppress the price of the "real" asset) is actually illegal - but JPMorgan is allowed to get away with it, because suppressing the gold and silver price helps prop up the United States and world's major "fantasy fiat" financial institutions - which would be bankrupt without this kind of "artificial life support."
How does suppressing the gold and silver price help governments and banks?
If gold and silver (and Bitcoin!) rose to their actual "fair market value", then the US dollar (and most other national "fiat" currencies) would crash - and many major financial institutions would be exposed as bankrupt. Also, many "derivatives contracts" would default - and only a tiny percentage of defaults would destroy most major financial companies' balance sheets. (For example, see Deutsche Bank - which is may become "the next Lehman", due to having around around $80 trillion in dangerous derivatives exposure.)
So, major financial firms like JPMorgan are highly motivated to prevent a "real" (honest) market from existing for "counterparty-free" assets such as physical gold and silver (and Bitcoin!)
So, JPMorgan fraudulently manipulate the precious-metals market, by flooding it with 100x more "phantom" "silver" and "gold" in the form of worthless GLD and SLV ETF certificates.
Basically, JPMorgan is doing the "dirty work" to keep the US government and its "too-big-to-fail" banks and other financial institutions afloat, on "artificial life support".
Otherwise, without this GLD & SLV ETF "naked short selling" involving market manipulation and fraud, the US government - and most major US financial institutions, as well as many major overseas financial institutions, and most central banks - would all be exposed as bankrupt, once traders and investors discovered the real price of gold and silver.
So, what does this have to do with AXA and Bitcoin?
Just like JPMorgan wants to suppress the price of gold and silver to prop up the USDollar, it is reasonable to assume that AXA and other major financial players probably also want to suppress the price of Bitcoin for the same reasons - in order to postpone the inevitable day when the so-called "assets" on their balance sheets (denominated in US Dollars and other "fantasy fiat" currencies, as well as derivatives) are exposed as being worthless.
Actually, only the motives are the same, while the means would be quite different - ie, certain governments or banks might want to suppress the Bitcoin price - but they wouldn't be able to use "naked short selling" to do it.
As we know, this is because with Bitcoin, people can now simply demand "cryptographic proof" of how many bitcoins are really out there - instead of just "trusting" some auditor claiming there is so much gold and silver in a vault - or "trusting" that a gold bar isn't actually filled with worthless tungsten (which happens to have about the same "molecular weight" as gold, so these kinds of counterfeit gold bars have been a serious problem).
(And, by the way: hopefully it should also be impossible to do "fractional reserve" using "level 2" sidechains such as the Lightning Network - although that still remains to be seen. =)
So, even though it should not be possible to flood the market with "phantom" Bitcoins (since people can always demand "cryptographic proof of reserves"), AXA could instead use a totally different tactic to suppress the price: by suppressing Bitcoin trading volume - explained further below.
Does AXA does actually have the motives to be suppressing the Bitcoin price - right now?
Yes, they do!
As described above, the only thing which gives giant banking and finance companies like JPMorgan and AXA the appearance of solvency is massive accounting fraud and market manipulation.
They use the "legacy ledger of fantasy fiat" (ie, debt-backed "currency", endlessly printed out of thin air) - and the never-ending carrousel of the worldwide derivatives casino, currently worth around 1.2 quadrillion dollars - to "paper over" their losses, and to prevent anyone from discovering that most major insurance firms like AXA - and most major banks - would already be considered bankrupt, if you counted only their real assets. (This is known as "mark-to-market" - which they hate to do. They much prefer to do "mark-to-model" which some people call "mark-to-fantasy" - ie, fraudulent accounting based on "phantom" assets" and rampant market manipulation.)
So, it is public knowledge that nearly all "too-big-to-fail" financial companies like AXA (and JPMorgan) would be considered bankrupt if their fraudulent accounting practices were exposed - which rely on the "legacy ledger of fantasy fiat" and the "never-ending carrousel of the derivatives casino" to maintain the façade of solvency:
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
https://np.reddit.com/btc/comments/4r2pw5/if_bitcoin_becomes_a_major_currency_then_tens_of/
Does AXA actually have the means to to be suppressing the Bitcoin price... right now?
Yes, they do!
For example, AXA could decide to support economically ignorant devs like Greg Maxwell (CTO of Blockstream), Adam Back (CEO of Blockstream), and the other Core devs who support Blockstream's "roadmap" based on tiny blocks.
Wait - isn't AXA already doing precisely that?
Yes, they are!
As we all know, AXA has invested tens of millions of dollars in Blockstream, and Blockstream is indeed fighting tooth and nail against bigger blocks for Bitcoin.
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
https://np.reddit.com/btc/comments/47zfzt/blockstream_is_now_controlled_by_the_bilderberg/
So, how would artificially tiny blocks artificially suppress the Bitcoin price?
This is pretty much based on common sense - plus it's also been formalized and roughly quantified in concepts involving networking and economics, such as "Metcalfe's Law".
Metcalfe's Law says pretty much what you'd expect it to say - ie: the more people that use a system, the more valuable that system is.
More precisely: the value of a system is proportional to the square of the number of users in that system - which also makes sense, since when there are N users in a system, the number of connections between them is N*(N - 1)2 which is "on the order of" N squared.
In fact, Metcalfe's Law has been shown to hold for various types of networks and markets - including faxes, internet, national currencies, etc.
Does Metcalfe's Law apply to Bitcoin?
Yes, it does!
The past 7 years of data also indicates - as predicted - that Metcalfe's Law also does indeed apply to Bitcoin as well.
Graphs show that during the 5 years before Blockstream got involved with trying to artificially suppress the Bitcoin price via their policy of artificially tiny blocks, Bitcoin prices were roughly in proportion to the square of the (actual) Bitcoin blocksizes.
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
https://np.reddit.com/btc/comments/4dfb3bitcoin_has_its_own_e_mc2_law_market/
During all those years, actual blocksizes were still low enough to not bump into the artificial "ceiling" of the artificial 1 MB "max blocksize" limit - which, remember, was only there as a temporary anti-spam measure, so it was deliberately set to be much higher than any actual blocksize, and everyone knew that this limit would be removed well before actual blocksizes started getting close to that 1 MB "max blocksize" limit.
But now that Bitcoin volume can't go up due to hitting the artificial "max blocksize" 1 MB limit (unless perhaps some people do bigger-value transactions), Bitcoin price also can't go up either:
Bitcoin's market price is trying to rally, but it is currently constrained by Core/Blockstream's artificial blocksize limit. Chinese miners can only win big by following the market - not by following Core/Blockstream. The market will always win - either with or without the Chinese miners.
https://np.reddit.com/btc/comments/4ipb4q/bitcoins_market_price_is_trying_to_rally_but_it/
So what does this all have to do with that meeting in Silicon Valley this weekend, between Core/Blockstream and the Chinese miners?
This latest episode in the never-ending saga of the "Bitcoin blocksize debates" is yet another centralized, non-transparent, invite-only stalling non-scaling, no-industry-invited, no-solutions-allowed, "friendly" meeting being held this weekend - at the very last moment when Blockstream/Core failed to comply with the expiration date for their previous stalling non-scaling non-agreement:
The Fed/FOMC holds meetings to decide on money supply. Core/Blockstream & Chinese miners now hold meetings to decide on money velocity. Both are centralized decision-making. Both are the wrong approach.
https://np.reddit.com/btc/comments/4vfkpthe_fedfomc_holds_meetings_to_decide_on_money/
So, on the expiration date of the HK stalling / non-scaling non-agreement, Viacoin scammer u/btcdrak calls a meeting with no customer-facing businesses invited (just Chinese miners & Core/Blockstream), and no solutions/agreements allowed, and no transparency (just a transcript from u/kanzure). WTF!?
https://np.reddit.com/btc/comments/4vgwe7/so_on_the_expiration_date_of_the_hk_stalling/
This disastrous, desperate meeting is the latest example of how Bitcoin's so-called "governance" is being hijacked by some anonymous scammer named u/btcdrak who created a shitcoin called Viacoin and who's a subcontractor for Blockstream - calling yet another last-minute stalling / non-scaling meeting on the expiration date of Core/Blockstream's previous last-minute stalling / non-scaling non-agreement - and this non-scaling meeting is invite-only for Chinese miners and Core/Blockstream (with no actual Bitcoin businesses invited) - and economic idiot u/maaku7 who also brought us yet another shitcoin called Freicoin is now telling us that no actual solutions will be provided because no actual agreements will be allowed - and this invite-only no-industry no-solutions / no-agreements non-event will be manually transcribed by some guy named u/kanzure who hates u/Peter__R (note: u/Peter__R gave us actual solutions like Bitcoin Unlimited and massive on-chain scaling via XThin) - and as usual this invite-only non-scaling no-solutions / no-agreements no-industry invite-only non-event is being paid for by some fantasy fiat finance firm AXA whose CEO is head of the Bilderberg Group which will go bankrupt if Bitcoin succeeds.**
What is the purpose of this meeting?
The "organizers" and other people involved - u/btcdrak and u/maaku7 - say that this is just a "friendly" meeting - and it is specifically forbidden for any "agreements" (or scaling solutions) to come out of this meeting.
What good is a meeting if no agreements or solutions can some out of it?
Good question!
A meeting where solutions are explicitly prohibited is actually perfect for Blockstream's goals - because currently the status quo "max blocksize" is 1 MB, and they want to keep it that way.
So, they want to leverage the "inertia" to maintain the status quo - while pretending to do something, and getting friendly with the miners (and possibly making them other "offers" or "inducements").
So this meeting is just another stalling tactic, like all the previous ones.
Only now, after the community has seen this over and over, Blockstream has finally had to publicly admit that it is specifically forbidden for any "agreements" (or scaling solutions) to come out of this meeting - which makes it very obvious to everyone that this whole meeting is just an empty gesture.
So, why is this never-ending shit-show still going on?
Mainly due to inertia on the part of many users, and dishonesty on the part of Core/Blockstream devs.
Currently there is a vocal group of 57 devs and wannabe devs who are associated with Core/Blockstream - who refuse to remove the obsolete, temporary anti-spam measure (or "kludge") which historically restricted Bitcoin throughput to a 1 MB "max blocksize".
Somehow (via a combination of media manipulation, domain squatting, censorship, staged international Bitcoin stalling "scaling" meetings and congresses, fraudulent non-agreements, and other dishonest pressure tactics) they've managed to convince everyone that they can somehow dictate to everyone else how Bitcoin governance should be done.
vampireban wants you to believe that "a lot of people voted" and "there is consensus" for Core's "roadmap". But he really means only 57 people voted. And most of them aren't devs and/or don't understand markets. Satoshi designed Bitcoin for the economic majority to vote - not just 57 people.
https://np.reddit.com/btc/comments/4ecx69/uvampireban_wants_you_to_believe_that_a_lot_of/
Meanwhile, pretty much everyone else in Bitcoin - ie, everyone who's not involved with Blockstream - knows that Bitcoin can and should have bigger blocks by now, to enable increased adoption, volume, and price, as shown by the following points:
(1) Most miners, and investors, and Satoshi himself, all expected Bitcoin to have much bigger blocks by now - but these facts are censored on most of the media controlled by Core/Blockstream-associated devs and their friends:
Satoshi Nakamoto, October 04, 2010, 07:48:40 PM "It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit / It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete."
https://np.reddit.com/btc/comments/3wo9pb/satoshi_nakamoto_october_04_2010_074840_pm_it_can/
The moderators of r\bitcoin have now removed a post which was just quotes by Satoshi Nakamoto.
https://np.reddit.com/btc/comments/49l4uh/the_moderators_of_rbitcoin_have_now_removed_a/
(2) Research has repeatedly shown that 4 MB blocks would work fine with people's existing hardware and bandwidth - such as the Cornell study, plus empirical studies in the field done by jtoomim:
https://np.reddit.com/btc+bitcoin/search?q=cornell+4+mb&restrict_sr=on&sort=relevance&t=all
(3) Even leading Bitcoin figures such as Blockstream CTO Greg Maxwell u/nullc and r\bitcoin censor moderator u/theymos have publicly stated that 2 MB blocks would work fine (in their rare moments of honesty, before they somehow became corrupted):
theymos 1/31/2013: "I strongly disagree with the idea that changing the max block size is a violation of the 'Bitcoin currency guarantees'. Satoshi said that the max block size could be increased, and the max block size is never mentioned in any of the standard descriptions of the Bitcoin system"
https://np.reddit.com/btc/comments/4qopcw/utheymos_1312013_i_strongly_disagree_with_the/
"Even a year ago I said I though we could probably survive 2MB" - nullc
https://np.reddit.com/btc/comments/43mond/even_a_year_ago_i_said_i_though_we_could_probably/
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
https://np.reddit.com/btc/comments/4mlo0z/greg_maxwell_used_to_have_intelligent_nuanced/
So... What can we do now to stop giant financial institutions like AXA from artificially suppressing Bitcoin adoption, volume and price?
It's not as hard as it might seem - but it might (initially) be a slow process!
First of all, more and more people can simply avoid using crippled code with an artificially tiny "max blocksize" limit of 1 MB produced by teams of dishonest developers like Core/Blockstream who are getting paid off by AXA.
Other, more powerful Bitcoin code is available - such as Bitcoin Unlimited or Bitcoin Classic:
https://np.reddit.com/btc/comments/3ynoaa/announcing_bitcoin_unlimited/
https://np.reddit.com/btc/comments/4089aj/im_working_on_a_project_called_bitcoin_classic_to/
In addition, proposals for massive on-chain scaling have also been proposed, implemented, and tested - such as Xthin:
https://np.reddit.com/btc+bitcoin/search?q=xthin+author%3Apeter__r&restrict_sr=on&sort=relevance&t=all
Hasn't the market already rejected other solutions like Bitcoin Unlimited or Bitcoin Classic?
Actually, no!
If you only read r\bitcoin, you might not hear about lots of these promising new innovations - or you might hear people proclaiming that they're "dead".
But that forum r\bitcoin is not reliable, because it routinely censors any discussion of on-chain scaling for Bitcoin, eg:
The most upvoted thread right now on r\bitcoin (part 4 of 5 on Xthin), is default-sorted to show the most downvoted comments first. This shows that r\bitcoin is anti-democratic, anti-Reddit - and anti-Bitcoin.
https://np.reddit.com/btc/comments/4mwxn9/the_most_upvoted_thread_right_now_on_rbitcoin/
So, due to the combination of inertia (people tend to be lazy and cautious about upgrading their software, until they absolutely have to) and censorship, some people claim or believe that solutions like Bitcoin Unlimited or Bitcoin Classic have "already" been rejected by the community.
But actually, Bitcoin Classic and Bitcoin Unlimited are already running seamlessly on the Bitcoin network - and once they reach a certain predefined safe "activation threshold", the network will simply switch over to use them, upgrading from the artificially restrictive Bitcoin Core code:
Be patient about Classic. It's already a "success" - in the sense that it has been tested, released, and deployed, with 1/6 nodes already accepting 2MB+ blocks. Now it can quietly wait in the wings, ready to be called into action on a moment's notice. And it probably will be - in 2016 (or 2017).
https://np.reddit.com/btc/comments/44y8ut/be_patient_about_classic_its_already_a_success_in/
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
https://np.reddit.com/btc/comments/4kxtq4/i_think_the_berlin_wall_principle_will_end_up/
So what is the actual point of this weekend's meeting between Core/Blockstream and the Chinese Miners?
It's mainly just for show, and ultimately a meaningless distraction - the result of desperation and dishonesty on the part of Core/Blockstream.
As mentioned above, real upgrades to Bitcoin like Bitcoin Classic and Bitcoin Unlimited have already been implemented and tested and are already running on the Bitcoin network - and the overall Bitcoin itself can and probably will switch over to them, regardless of any meaningless "meetings" and delaying tactics.
Is it inevitable for Bitcoin to move to bigger blocks?
Yes, for three reasons:
(1) As mentioned above, studies show that the underlying hardware and bandwidth will already easily support actual blocksizes of 2 MB, and probably 4 MB - and everyone actually agrees on this point, including die-hard supporters of tiny blocks such as Blockstream CTO Gregory Maxwell u/nullc, and r\bitcoin censor moderator u/theymos.
(2) The essential thing about a publicly held company is that it always seeks to maximize shareholder value - and, in a similar fashion, a publicly held cryptocurrency also always seeks to maximize "coinholder" value.
(3) Even if Core/Blockstream continues to refuse to budge, the cat is already out of the bag - they can't put the toothpaste of open-source code back into the tube. Some people might sell their bitcoins for other cryptocurrencies which have better scaling - but a better solution would probably be to wait for a "spinoff" to happen. A "spinoff" is a special kind of "hard fork" where the existing ledger is preserved, so your coins remain spendable on both forks, and you can trade your coins on markets, depending on which fork you prefer.
Further information on "spinoff technology" can be found here:
https://bitcointalk.org/index.php?topic=563972.0
https://duckduckgo.com/?q=site%3Abitco.in%2Fforum+spinoff&ia=web
An excellent discussion of the economic advantages of using a "spinoff" to keep the original ledger (and merely upgrade the ledger-appending software), can be found here:
https://bitcointalk.org/index.php?topic=678866.0
And today, based on new information learned from Ethereum's recent successful "hardfork split", people are already starting to talk about the specific details involved in implementing a "spinoff" or "hardfork split" for Bitcoin to support bigger blocks - eg, changing the PoW, getting exchanges to support trading on both sides of the fork, upgrading wallets, preventing replay attacks, etc:
We now know the miners aren't going to do anything. We now know that a minority fork can survive. Why are we not forking right now?
https://np.reddit.com/btc/comments/4vieve/we_now_know_the_miners_arent_going_to_do_anything/
So - whether it's via a hardfork upgrade, or a hardfork split or "spinoff" - it is probably inevitable that Bitcoin will eventually move to bigger blocks (within the underlying hardware and bandwidth constraints of course - which would currently support 2-4 MB blocksizes).
Why are bigger blocks inevitable for Bitcoin?
Because that's how markets always have and always will behave - and there's nothing that Blockstream/Core or AXA can do to stop this - no matter how many pointless stalling scaling meetings they conduct, and no matter how many non-agreements they sign and then break.
Conclusion
Endless centralized meetings and dishonest agreements are irrelevant. The only thing that matters is decentralized markets and open-source code. Users and markets decide on what code to install, and what size blocks to accept. Bitcoin adoption, volume - and price - will continue to grow, with or without the cooperation of the dishonest devs from Core/Blockstream, or misguided miners - or banksters at "fantasy fiat" financial firms like JPMorgan or AXA.
submitted by ydtm to btc [link] [comments]

Bitcoin has smashed $5,000 mark. Should you invest?

With all the euphoria around bitcoin and cryptocurrencies, majority of the Indian traders and investors are yet to step into the cryptocurrency wagon. Today, cryptocurrencies, led by bitcoin, ether, etc are taking the financial world by storm as more people invest and buy these currencies. Currently, 1.2 million Indians have invested in cryptocurrencies and are starting to look at them as an alternative to gold during market volatility.
India saw a major spurt in the purchase of bitcoins post demonetization. The price of bitcoins surged from Rs 60,000 in January 2016 to Rs 300,000 in October 2017, marking a 500% return on investment. Some part of this price buoyancy in bitcoins can be attributed to market-making initiatives of Indian exchanges. Indian bitcoin exchanges have received a lot of traction in the past few months with more than one million active cryptocurrency users.
Cryptocurrencies are a unique asset class that is hard to be ignored or rejected. As compared to any other asset classes such as currencies (store of value), equities (net present value on expected returns) and commodities (consumable and transformable assets), many of the cryptocurrencies provides a peculiar combination of all of the above. With over $2 billion of daily volume, the cryptocurrency asset volume has surpassed the most traded gold exchange traded funds (ETFs) by many times. The current store value of cryptocurrencies grew to $150 billion from $3 billion in September 2015, with most of the cryptocurrencies giving a return of 10x to 50x returns. Currencies like ethereum has given unimaginable returns in the past one year itself.
Only 2% of current equity investors hold bitcoin and global penetration of bitcoin stands at 0.2% only. With trillions of dollars invested in various asset classes, even a modest shift of 1% to 2% of these investment to cryptocurrencies can rally the cryptocurrency market cap to over $2 trillion.
With the world’s eyes on cryptocurrencies, India cannot be left far behind. India is currently ranked way below in the global ranking as far as crypto investments are concerned. With massive consumer base, Indian investors definitely stand to benefit in the long run, taking into consideration the uncertainty in the Chinese markets about cryptocurrencies. These are exciting times if you are an Indian investor who is looking at different investment avenues which can help you grow your investment portfolio significantly.
https://www.facebook.com/BitQuotex/posts/1473967339346418
submitted by vicky_hi to bitcointrend [link] [comments]

Legality of cryptocurrencies

Regulations or positions of some countries about cryptoworld Because governments can sometimes be a bit touchy about attempts to create alternatives to the legal tender they enjoy a monopoly on printing, a wise investor might wonder about the legal status of cryptocurrencies. Indeed, the disruptive potential of these technologies has made governments around the world nervous, as they have struggled to devise appropriate regulations for the cryptocurrency realm without stifling innovation. Most potential investors have nothing to worry about from a legal standpoint, but it pays to do one’s homework.
Regulations or positions of some countries about cryptoworld Some countries have banned or ruled unconstitutional the use of cryptocurrencies within their borders, while others have embraced them or even announced plans to issue their own. Of course, due to the inherently decentralized nature of cryptocurrencies, enforcement has proven difficult. Taxes levied on profits made trading cryptocurrencies vary based on their legal classification. Check the laws in your country, and make sure you abide by them when investing. Questions of legality in major markets have caused temporary dips in cryptocurrency prices over the years, but they have always recovered. Keep reading for a brief history of legal rulings and government announcements related to bitcoin that have helped shape the current ecosystem.
February 2012
Payments services firms Paxum and Tradehill temporarily cease bitcoin exchange activities due to legal concerns raised by Canadian regulators.
28 March 2013
Cypriot investors drive up bitcoin prices seeking a refuge for savings when a government bailout program threatens to tap bank deposits.
14 May 2013
The United States Department of Homeland Security seizes almost $3 million from a subsidiary of the Mt. Gox exchange, claiming that the business is illegally engaged in money transmission without a license.
30 August 2013
Tradehill stops exchanging bitcoin, again due to regulatory uncertainty, indicating a growing need for government clarification on the legal status of cryptocurrency.
October 2013
The U.S. Federal Bureau of Investigation arrests operator of Silk Road dark web marketplace Ross Ulbricht, alias “Dread Pirate Roberts,” charges him with computer hacking, money laundering, drug trafficking and attempted murder, shuts down the site and seizes over 170,000 bitcoins. In the wake of the shutdown, numerous other illicit marketplaces emerge, but are prone to exit scams in which operators abscond with bitcoins held in escrow.
18 November 2013
U.S. Senate holds hearing titled “Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies.” Members express reservations about the potential illicit applications of cryptocurrencies so vividly illustrated by Silk Road, frustration at the difficulty of regulating something so difficult to understand, but ultimately hope that government will be able to create a system in which decent people have a “chance to try and play by the rules.”
22 November 2013
China’s central bank issues an equivocal statement on bitcoin that nonetheless greenlights Chinese participation in cryptocurrency exchange and investment, prompting huge price gains over subsequent weeks.
05 December 2013
Backpedaling somewhat in response to the widespread use of bitcoin to circumvent limits on capital outflows, China bans banks and other financial institutions from dealing with or offering services relating to bitcoin, ruling that it is not a currency.
25 March 2014
The U.S. Internal Revenue Service issues its first guidelines for bitcoin, ruling that it is to be taxed as property, not treated as currency.
10 April 2014
Under government pressure, Chinese banks begin to shut down accounts belonging to bitcoin exchanges. Prices drop 10%, but many exchanges exploit loopholes and offshore parts of their businesses to continue operating.
July 2014
The state of New York announces plans to develop licensing requirements for businesses dealing in bitcoin or related services, which proves extremely unpopular with cryptocurrency advocates.
06 November 2014
Trendon Shavers, alias “pirateat40,” arrested for defrauding bitcoin investors in Ponzi scheme in 2012.
19 December 2014
Bitcoin entrepreneur and proponent Charlie Shrem sentenced to two years in prison for illegal money transmission charges related to the Silk Road marketplace.
25 January 2015
Coinbase navigates regulatory frameworks to win approval to operate a fully-fledged bitcoin exchange in 25 U.S. states and sets sights on further expansion.
25 March 2015
Hong Kong officials warn against potential fraud on exchanges, but indicate they will take a light hand regulating cryptocurrencies, classifying them not as legal tender but as “virtual commodities.”
29 May 2015
Ross Ulbricht receives sentence: life in prison without parole. Judge Katherine Forrest explicitly seeks to make an example of him and thereby discourage others from using cryptocurrency and the relative anonymity of the Internet to flout the law.
01 August 2015
Mark Karpeles, former Mt. Gox CEO, arrested in Japan and charged with falsification of records relating to the solvency of the exchange during its collapse.
10 August 2015
Deadline hits for compliance with New York regulators’ “BitLicense” rules, leading many exchanges to stop serving customers in the State.
22 October 2015
Crypto advocates hail a European court ruling that VAT does not apply to bitcoin and other cryptocurrency transactions, thereby classifying them as currency, not property.
10 November 2016
The state of North Carolina creates legislation to address bitcoin and money transmission, which regards businesses dealing in virtual currencies as subject to the same set of rules and licensing requirements that govern transmission
10 March 2017
The U.S. Securities and Exchange Commission denies Cameron and Tyler Winklevoss authorization to create a bitcoin-based ETF, citing inadequate regulation of cryptocurrency exchanges.
28 March 2017
The SEC denies the Winklevoss brothers’ second request for authorization of a bitcoin ETF, again citing concerns about the lack of regulation and potential for fraud on the exchanges.
01 April 2017
Japan recognizes bitcoin and other cryptocurrencies as legal tender and lays the groundwork for supportive regulations intended to permit legitimate investment while discouraging money laundering and terrorist financing.
04 September 2017
China prohibits fundraising via initial coin offerings, which it considers illegal.
07 September 2017
The European Central Bank rules out the possibility of Estonia launching its own national cryptocurrency, reaffirms the privileged status of the Euro as legal tender, and cites concerns that national cryptocurrencies would undermine financial regulations.
06 December 2017
Softening its initial stance, Russian regulators indicate that new rules may allow the purchase of cryptocurrencies, but forbid or heavily restrict mining activities.
07 December 2017
Regulators in South Korea ban trading in bitcoin futures as well as initial coin offerings(ICO), but will permit cryptocurrency exchanges to continue operations.
submitted by Which_Blockchain to u/Which_Blockchain [link] [comments]

DYK That November Is Bitcoins Strongest Month?

November is the best month price-wise. Even during the 2yr bear market. (Data from Gox/Finex)
 
*2010 +40%
*2011 +300%
*2012 +16%
*2013 +495%
*2014 +16%
*2015 +15%
*2016 +5.5%
*2017 started @ $6460
 
Now you know... and knowing is half the battle.
 
IMO
Half the people are expecting a large dump, the other half more ATH’s. I say we don't finish the month below $6460.
 
CME. Positive news cycle. No moar China. Uncertainty and contention evaporated. This is the most bullish fundamentally I have ever seen in bitcoin.
 
Lots of $ (hedge funds, institutions, family wealth) waiting for dips. Imo, correction/dips will be short-lived. Sure people wanted free coins and sold their alts to pile into BTC. That money will cycle back into alts. The new money will keep it relatively range bound until new ATH’s.
 
Dips have been short-lived all year. Seriously, look at the events that happened this year and how quickly we rebounded from each.
 
*China heavily regulates/halts withdrawals from exchanges in January
*ETF denied
*Contentious forks
*China bans ICO's
*China bans exchanges
*Competitor rises with the name Bitcoin (BCH)
 
Anyone of these events would have held us down for weeks and months prior. Each event was shorter and shorter, look at the last and final China ban, that lasted all of a week, and it was real this time. This is what I shared with my family and friends at the end of October to put into a technical perspective - https://imgur.com/a/lWzsc
 
This is a new world we live in. Comparing BTC circa 2017 to the prior is shortsighted, IMO. Positive news everywhere about crypto and its potential. To top it off we don't even have the real institutional money yet (institutional =large banks who invest/trade in the trillions per day in the markets).
 
I just don’t see a crash or a large correction happening. It feels like 2013 holidays all over again but with much better footing, a well built out infrastructure and many many exchanges worldwide.
 
Try and keep some cash on hand for large dips, just in case. Don’t have cash, but have btc? Sell a little bit (raise cash) and set targets of when you’ll buy the dip and when you will buy back in if the dip never comes.
 
In closing, if new information or news develops, things will change, and I will change my outlook accordingly. But, right now, at this moment, crypto is at its most positive state it’s ever been. Not just buy us, but by outsiders.
 
Pip pip, cheerio!
submitted by SirLamboMoon to u/SirLamboMoon [link] [comments]

The truly defining Post-MtGox moments when Bitcoin turned from Bearish to Bullish

Bitcoin's prices actually went much lower than they had been during the late 2014 'Bearwhale' episode, on two occasions in 2015 - in January (BitStamp wallet hack) and in August (when the bitcoin scaling blocksize debate first began to really brew some public drama and negative attention).
Afterwards, in October '15, the price started marking new highs every single week, cited to be due to capital controls pressure in China, until by the first week of November '15 it had more than tripled vs. the mid-August '15 low of ~$162-180 just 10 weeks prior.
This rise - even in spite of the subsequent corrective crash back to $300 - began in earnest the period of "The Halvening 2016" BTC mining block reward reduction supply/demand hype which led to another exponential price rise starting in May '16 and then crashing at various times throughout the summer, notably due to the BitFinex hack in August - which sent prices tumbling as low as the $460's on BitStamp - from the ~$780 early summer peak.
Nevertheless, prices consolidated in an upward momentum right away, and by late October '16 they'd reached $700 for the first time again since June, ushering in the latest fast growth phase which would go on in turning Vinny Lingham's bold prophecy into reality. By mid-December the continuous price increase was reaching vertical levels, which surprisingly did not end by Christmas day or NYE, and was only interrupted at last on January 5th 2017 by a severe yet relatively short-lived crash caused by PBoC Chinese exchange regulation changes.
Prices recovered thereafter, with the bubbly upward momentum still yet ongoing to this day, as not 1 but 3 "BTC ETF's" are awaited to be approved or denied by the US SEC next month.
So, we find that, contrary to some popular myths, the turning point for BTC sentiment & price only manifested itself an entire year later than the 2014 Bearwhale Event.
submitted by Post-Cosmic to Bitcoin [link] [comments]

Bitcoin, Ethereum, Litecoin hírek Bitcoin ETF Withdrawn, Bitcoin Price Drop, FED Cash Pump & New Interest Rate Cut MatthiasCayenne - YouTube CryptoNews:  Stellar Launches StellarX  36% Of Bitcoin In Circulation Is Lost  EOS on Bloomberg YouTube

Bitcoin-Kurs erreicht neuen Höchstwert in 2015 . Startseite; Aktuelle Artikel im Überblick; Krypto; Bitcoin; Bitcoin Kurs erreicht neuen Höchstwert in 2015 . von Mark Preuss. Am 30. Oktober 2015 26. Mai 2019 · Lesezeit: 0 Minuten. Mark Preuss. Mark Preuss ist Gründer und Geschäftsführer von BTC-ECHO. Nach seinem Wirtschaftsstudium in den Niederlanden und in China führten ihn ... Der Bitcoin-ETN wird bereits seit Mai 2015 an der Stockholmer Börse gelistet. Seit Jahresbeginn stieg infolge des derzeitigen Bitcoin-Booms das darin investierte Fondsvolumen von 40 auf nunmehr etwa 700 Millionen US-Dollar. Der Ethereum-ETN ist seit Oktober an der Stockholmer Börse gelistet, in ihm sind bereits rund 100 Millionen US-Dollar investiert. Auch in Deutschland waren die beiden ... Edit 3/2/2015: The BIT was assigned an OTC ticker ... The user experience was too different from what she was used to. If the bitcoin ETF had existed she would have opened her bitcoin position in a matter of minutes. ETF Details. There are two ETFs in the works. COIN, which will be listed on the NASDAQ exchange, and BIT, which will be listed on the OTCQX marketplace. The NASDAQ listing will be ... The ETNs have closely tracked the bitcoin price since their inception in 2015 Key Differences . Still, there are differences between CXBTF and a hypothetical U.S.-listed bitcoin ETF. For one, the ... Bitcoin – Oktober 2015 lässt grüßen - Lesen Sie auch weitere News zu Thema (Kryptohandel, Kryptoaktie, Kryptowährung) - ICOs auf BITCOIN • KRYPTO

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Bitcoin, Ethereum, Litecoin hírek

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